When they promoted him to their 15-man roster, the Bulls used a portion of their mid-level exception to sign Carlik Jones to a contract that covers two seasons beyond this one, Hoops Rumors has learned.
Jones’ rest-of-season salary ($357,717) is his minimum, but if the Bulls had relied on the minimum salary exception to convert Jones to a standard contract, they would only have been able to tack on one extra year. The mid-level exception allowed them to complete a three-year deal that includes a non-guaranteed minimum salary for 2024/25 ($2,092,344) in addition to a non-guaranteed minimum salary for ’23/24 ($1,927,896).
Jones will receive a partial guarantee of $250K on his 2023/24 salary if he remains under contract through the first day of the regular season this fall. The Bulls guard would have his full salary guaranteed if he’s not waived on or before January 7, 2024.