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Orlando Magic restricted free-agent guard J.J. Redick is close to signing a three-year offer sheet worth about $19 million with the Chicago Bulls, a league executive told Yahoo! Sports.
Redick could sign the agreement as soon as the weekend.
A source familiar with the offer sheet said a significant portion of the offer is a signing bonus, which makes it more difficult for Orlando to match.
The Bulls signed free-agent guard Kyle Korver to a three-year, $15 million contract on Friday.
Once the sheet is signed, the Magic will have seven days to match and keep Redick.