If the Chicago Bulls and power forward Taj Gibson agree to a contract extension, it will likely come right before Wednesday night's deadline, as ESPN Chicago's Nick Friedell writes. Both sides are still showing optimism that a deal can be reached even as the deadline nears.

Despite the expression of hope from Bulls V.P. of basketball operations John Paxson, he also insisted that the team doesn't have a particular sense of urgency. Unlike with Omer Asik last year, the Bird exception kicks in for Gibson given his status as a fourth-year player, making it far easier for the Bulls to match any offers for the to-be restricted free agent.

Because the Bulls should have a far easier time retaining Gibson through restricted free agency than they did with Asik, who eventually left to take a three-year deal with the Houston Rockets, there's a decent chance that an extension isn't reached before the deadline. In that case, the Bulls will likely simply wait until next summer to deal with the situation.