Nikola Vucevic will stay put with the Chicago Bulls after both sides reportedly agreed to a three-year, $60 million contract extension on Wednesday afternoon, as first reported by Shams Charania of The Athletic. The deal will keep the Bulls center off free agency, which will kick off on Friday, June 30.

Extending Vucevic was reportedly one of Chicago's top priorities this offseason. The team has expressed its desire to keep the 32-year-old. Likewise, Vucevic likes his role with the Bulls and has also said he wants to stick around in the Windy City.

Vucevic came to Chicago during the trade deadline of the 2020-21 season. His former team, the Orlando Magic, traded him alongside Al-Farouq Aminu to the Bulls in exchange for Wendell Carter Jr., Otto Porter Jr., and a couple of first-round draft picks. In about two-and-a-half seasons a Bull, Vucevic has averaged 18.2 points and 11.1 rebounds while shooting 49.2 percent from the field.

With a new deal in place, let's give a grade on Nikola Vucevic's freshly-signed three-year, $60 million contract with the Bulls.

Nikola Vucevic contract grade: B

To keep it real, Vucevic's extension made me feel nothing. It doesn't alter the landscape in the Eastern Conference nor does it really move the needle for Chicago.

Given their current roster construction, the Bulls don't really have a realistic pathway to upgrade their roster to the upper echelon of the East, let alone to championship contender status. Granted they continue to keep this core of Vucevic, DeMar DeRozan, and Zach LaVine in tact heading into next season, they will likely still finish within that play-in tournament range 0f the standings once again. Though, they could bump up a few spots from the 10th seed they finished at last season considering teams like the Toronto Raptors, Brooklyn Nets, and Atlanta Hawks still have some roster issues to solve themselves.

Nonetheless, the Bulls did what they had to do. Letting Vucevic walk wasn't an option, unless the front office was fully convinced to embark on a massive teardown and completely rebuild this roster. Still, if they do intend to take that route eventually, re-signing Vucevic and trading him down the line at least nets them some value in return compared to letting him go in free agency for nothing.

Chicago could have let Vucevic hit the market and eventually get value back in the form of a sign-and-trade. First and foremost, the former USC standout would also have to want to go that team in the first place. That also would have required a team with no cap space to want to sign him.

The Charlotte Hornets would have been a viable option for that given their need for a starting center. The Bulls could have received Terry Rozier in the hypothetical sign-and-trade as they need a point guard to replace Lonzo Ball, who is unfortunately already set to miss the entire 2023-24 season due to his lingering knee problems. Still, as mentioned, Vucevic likes his standing with the Bulls and that likely played a massive role in his decision to stay in Chicago.

A per year salary of $20 million also seems like a fair amount for a center of Vucevic's caliber. There aren't many centers with his offensive repertoire and could consistently produce 20-10 double-doubles on a nightly basis. His skill set is tailor-made in today's NBA with his ability to score from all three levels on the court.

And should the Bulls eventually look to trade Vucevic down the line, it would not be that difficult for title hopefuls needing an offensively talented big man to construct a deal to match his $20 million salary to orchestrate a trade.