The Chicago Bulls had the chance to offer Jimmy Butler a contract extension before the start of the 2014-15 season started.

Butler believed he would sign a deal before the Oct. 31 deadline, but Chicago offered him $40 million over four years, which was well below his market value at the time. Back then, Butler told reporters he was, "betting on himself."

MORE: Walker's run starts in paint | Nets suspend Kirilenko | NBA mock draft

Now, Chicago is all but certain to reward Butler with a max deal, whether it gives him a five-year, $91,174,875 contract or match the four-year, $67,707,255 that other teams can offer him as a restricted free agent.

This has been the general assumption, but David Haugh of the Chicago Tribune made it more concrete. The Bulls intend to hold on to Butler and pair him with Derrick Rose long term, Haugh reported, citing sources. 

Previously, Sporting News' Sean Deveney reported that, if Butler stayed on the same track, he would warrant a max contract. That re

port, based on information from league executives, was rooted in Butler's standing as one of the league's best two-way perimeter players.

The Bulls could avoid the free-agency environment all together, as their current plan is to sign Butler to a max offer before other teams even get the chance to speak with him.

As ProBasketballTalk noted, the Chicago Bulls have $62,590,142 committed to Derrick Rose, Joakim Noah, Taj Gibson, Pau Gasol, Nikola Mirotic, Kirk Hinrich, Doug McDermott, Jimmy Butler, Tony Snell and Richard Hamilton for next season. Chicago will have $14,320,754 in salary cap space left, and Butler's projected contract would pay out $15,856,500.