Mike Dunleavy, Bulls near agreement on three-year, $15M deal

ByMARC STEIN
July 1, 2015, 9:51 AM

— -- The Chicago Bulls are in advanced discussions with veteran forward Mike Dunleavy on a new three-year, $15 million contract, according to league sources.

Sources told ESPN.com that the Bulls are closing in on a verbal agreement that will secure Dunleavy's return to Chicago amid strong interest from several teams, including the Cleveland Cavaliers.

ESPN.com reported Tuesday that the Cavaliers, at the behest of LeBron James, were hopeful of luring Dunleavy away from the Bulls to give them extra shooting and wing depth.

But sources maintained from the start that Dunleavy, who turns 35 by the start of next season, was always likely to stay with Chicago.

The contract can't be signed until July 9, when a leaguewide moratorium on player business is lifted, but sources say the Bulls and Dunleavy will soon finalize a three-year deal that is fully guaranteed for the first two seasons and partially guaranteed in Year 3.

Dunleavy averaged 9.4 points and 3.9 rebounds per game last season.