Bulls and Bobby Portis fail to reach contract extension by deadline

The Bulls and big man Bobby Portis couldn’t reach an agreement on a contract extension by the deadline Monday, but a source close to the situation said the parties will revisit talks in the spring.

What that means is that if Portis continues to build on what he has shown during the preseason, he will be a coveted restricted free agent next summer. That would allow the market to set his price and put the ball in the Bulls’ court to match any offer he might receive if they want to retain his services.

The Bulls selected the 6-11 Portis with the 22nd pick of the 2015 NBA Draft. He made national news last fall when he punched then-teammate Nikola Mirotic in the face in an altercation during practice.

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After serving a season-opening eight-game suspension, Portis came back and put together his best season, averaging 13.2 points and 22.5 minutes.

Portis was expected to be the Bulls’ sixth man this season, but coach Fred Hoiberg moved him into the starting lineup last week after Jabari Parker struggled.

As for the rest of the roster, the Bulls finalized that by announcing they officially had signed former Marian Catholic and Kentucky star Tyler Ulis to a two-way contract.

Like Ryan Arcidiacono did last season, Ulis will split time with the Bulls and their affiliate in the G League. Both players will add depth behind starting point guard Kris Dunn.