With only hours remaining until Wednesday's deadline, Adrian Wojnarowski of Yahoo! Sports is reporting that the Chicago Bulls are unlikely to complete a contract extension with forward Taj Gibson.

The fourth-year big man shot a career-high 49.5 percent from the field last season for the Bulls, and has been especially eager to work out a new deal with the organization as his contract is set to expire this summer. The two sides still have until midnight to reach a new agreement, but as Wojnarowski points out, it would take a significant amount of momentum for something to materialize.

Chicago's front office has expressed interest in keeping its promising big man around for the long haul, and Gibson himself has also publicly stated that he wants to retire in a Bulls uniform. The Bulls will be able to match any offer that Gibson receives as a restricted free agent this summer, however, and may not be too worried about locking him up right now for that very reason.

This story originally appeared on SBNation.com.