According to ESPN's Marc Stein, approaching the end of his third season as general manager of the Chicago Bulls, John Paxson may be rewarded for bringing the Bulls back to respectability.

According to Stein, industry sources say the Bulls and Paxson have the framework in place for a long-term contract extension as they enter a critical summer for the franchise.

With significant salary-cap space as well as the Knicks' pick, Paxson has the flexibility to be a major player on the summer trade market no matter what happens for Chicago in the post-season.