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Chicago Bulls Sign Orlando Magic Guard J.J. Redick To Offer Sheet

Hot on the heels of signing Kyle Korver to a three-year contract, K.C. Johnson reports that the Chicago Bulls have signed Orlando Magic shooting guard and restricted free agent J.J. Redick to an oversheet.

ESPN’s Chad Ford reports that the offer is for three years and $20 million.

Given Redick’s status as a restricted free agent, the Orlando Magic will have the opportunity to match the offer and retain Redick. However, Johnson doesn’t necessasily expect that to happen.

While the terms of the Bulls’ offer were not immediately known, a league source said “it would be painful for the Magic to match.”

For everything Bulls, head over to SB Nation’s Blog a Bull.