Jimmy Butler rejected the Chicago Bulls' final contract extension offer on Friday and will become a restricted free agent in the summer of 2015.

“It came down to me deciding that I want to bet on myself,” Butler told Yahoo Sports in a text message on Friday. “It was about me believing that I put the work in this summer to become a better player with the hope that my improvement will give the Bulls a better chance to win a championship.”

The Bulls would have the option to match any offer sheet Butler were to sign on the open market, but it could threaten their payroll structure or allow him to become an unrestricted free agent in 2017. 

“All the [rookie extension] deals done so far have shown that teams are building around their stars of the future, and they’re compensating those players as such,” agent Happy Walters told Yahoo Sports on Friday. “I was under the impression Jimmy was also viewed as one of those future building blocks with the Bulls.

“We tried like heck to get something done, but ultimately, the Bulls wanted a ‘hometown’ discount. While understandable, I doubt their GM or coaches give Mr. Reinsdorf a discount when negotiating their own deals.”

The New York Knicks pursued Pau Gasol in the offseason, but they didn't have the cap space or title contender status that he was looking for.

Choosing between the Chicago Bulls, San Antonio Spurs and Oklahoma City Thunder was "probably the most difficult decision that I made in my career and in my life," Gasol said.

"I considered it," Gasol said of the Knicks. "But I thought the team was not at the level of others, other contenders and options that I had. I'm coming down to my last few years of my career, and I want to maximize them. And it was difficult to leave L.A. in the first place. But now I feel like I'm in a great position, and we have a great opportunity, and now let's see if we're lucky and we deserve to do something special."

Gasol had 21 points and 11 rebounds in the Bulls' opener against the Knicks.

"Plays where you need a great shot and you know that anything isn't rolling for you, you can easily dump it down and space out," Rose said. "If you double-team, it's going to be a wide-open shot, a wide-open three. … It makes the game easy for everyone."

Derrick Rose had 13 points and five assists in 21 minutes during the Chicago Bulls' convincing 104-80 win over the New York Knicks, which was his first regular season game since last November.

"I wouldn't say my rust is knocked off, but it's getting there," Rose said. "I can't be content with how I'm performing. I have to put it behind me whether it's good or bad and make sure I stay consistent with my workouts. Physically, I feel good.

"I can't get caught up in (proving doubters wrong). I let my game speak for itself. I don't like to say too much about my haters. But you should be able to tell by the way that I work that I've been in the gym every day really working hard on my craft."

Jimmy Butler and the Chicago Bulls are unlikely to agree to a contract extension before Friday's deadline, according to sources.

Butler is currently out two to four weeks with a thumb sprain.

Butler would become a restricted free agent in 2015.

Jimmy Butler will miss two to four weeks with a thumb sprain.

It was unclear on Wednesday morning if Butler would play in the Chicago Bulls' opener against the New York Knicks until Tom Thibodeau made the announcement.

The Chicago Bulls have exercised the third-year option for the 2015-16 season for guard Tony Snell. 

By exercising Snell’s option, he will be under contract with the Bulls for the 2015-16 season. 

Snell (6-7, 200), appeared in 77 games (12 starts) during his rookie campaign and posted averages of 4.5 ppg and 1.6 rpg in 16.0 mpg.

Joakim Noah still is having issues with his surgically repaired left knee.

“I still have a ways to go," said Noah.

Noah was asked what exactly felt different compared to last season.

“It’s fine. It’s a work in progress. It’s getting better. I’m happy with where it’s at. Let me live, man. Jeez.’’

The Sun-Times reported on Tuesday night that despite having what was considered “minor’’ surgery on the knee in May, a source in the Noah camp said that, “Jo’s knee is going to be an issue all season long.’’

Jimmy Butler sustained an injury to his left thumb against Charlotte on Monday night.

Subsequent examinations and an MRI on Tuesday confirmed a sprain of thumb ligaments.

Butler will not practice this week and will not play in the Bulls' final preseason game against the Minnesota Timberwolves. 

Butler will be re-evaluated after the preseason finale.

The Chicago Bulls waived Kim English, Ben Hansbrough, and Solomon Jones.

Chicago’s roster now stands at 14.

In this two-part episode, host Daniel Leroux (@DannyLeroux) and Arturo Galletti of BoxScoreGeeks.com (@ArturoGalletti) go through the over-unders for all 30 NBA teams for the 14-15 season. 

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