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

CSN Chicago's Aggrey Sam is reporting that the Bulls and power forward Taj Gibson are getting closer to a new contract extension. The Chicago Tribune's K.C. Johnson is confirming the news.

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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:

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:

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.