The Chicago Bulls have officially done everything they can to assure Jimmy Butler remains their franchise cornerstone for as long as possible.
Now all they can do is wait.
According to Eric Pincus of Basketball Insiders:
The Chicago Bulls have given Jimmy Butler both a qualifying offer AND a max qualifying offer @BBallInsiders
— Eric Pincus (@EricPincus) June 29, 2015
The Bulls' use of the maximum qualifying offer is unprecedented in the NBA's current collective bargaining agreement. It effectively removes any negotiating power from the team and hands all the leverage to the player.