Taj Gibson contract: Sides 'getting closer' to new deal

With coach Tom Thibodeau's new contract out of the way, the Bulls' front office can turn full attention to the negotiations with reserve power forward Taj Gibson. Gibson will become a restricted free agent next offseason if a new deal is not reached by Oct. 31.

According to CSN Chicago's Aggrey Sam, there's some good news on this front:

Also hearing Bulls and Taj are getting closer to a deal.

— Aggrey Sam (@CSNBullsInsider) October 1, 2012

K.C. Johnson of the Chicago Tribune said a couple of weeks ago that he had a good feeling about an extension for Gibson getting done. K.C. also just tweeted this:

Hearing positive talk about Taj Gibson's extension getting done before 10/31 deadline. #Bulls can't afford another Asik situation unfolding.

— K.C Johnson (@KCJHoop) October 1, 2012

It would certainly behoove the Bulls to reach a deal with Gibson before he reaches restricted free agency. If he did become a RFA, it wouldn't be surprising if some team with cap space made a crazy offer a la the Houston Rockets and Omer Asik. If the Bulls could get Gibson locked in at around $8 million per year, I'd say that would be pretty fair value. If they could get him for less, it would be a steal.