Gibson will be a restricted free agent in the summer of 2013, and he's likely to command a much richer contract than any player Chicago lost in 2012. The Bulls could potentially save themselves some money by trying to work out an extension with Gibson before he officially hits free agency, but SB Nation's Tom Ziller does not think that will be the case:
I would normally say that a sane $30-36 million extension for Gibson would be a smart play at this point, but this is the Chicago Bulls, who will wait if there's a reasonable chance they could save $2.50 in the process. Jerry Reinsdorf does not care if it makes Gibson, the front office or anyone uncomfortable. He has shown a consistent willingness to pay only what is absolutely required for his team to see success.
(via SB Nation NBA)
The Bulls were savaged by their fans this offseason for penny-pinching, and the team is almost certain to be worse in 2012-2013 than in the previous two seasons. Whether any of that spurns owner Jerry Reinsdorf to pay up for Gibson remains to be seen.