As many websites, newspapers, and television stations have now reported, the Chicago Bulls submitted an offer to restricted free agent guard J.J. Redick late Friday night. The offer sheet is a 3 year contract worth just over $19 Million. The question is: What happens next?

Almost as soon as news of the offer broke, Ric Bucher of ESPN tweeted that although there was no immediate comment by the Magic, other GM’s around the league expected the Magic to match the offer. Then on Saturday, the Orlando Sentinel talked to Magic GM Otis Smith about the situation. Otis stated that he “anticipates that we will match the offer.” Because Redick is a restricted free agent, should the Magic match the offer, he will immediately be signed to the Magic for the next 3 seasons. It is true that re-signing J.J. would send Orlando further over the salary cap, but it appears as if that is something the organization, from GM Otis Smith to Head Coach Stan Van Gundy, is willing to deal with.

However, I don’t think the Magic will match it until the last day they can, this upcoming Friday, July 16th. This will be done so as to make sure the Bulls don’t have time to get another player near Redick’s talent level. After all, the Bulls are expected to be one of the top teams in the Eastern Conference this season, so the Magic don’t want them getting any better. All in all, the Magic won’t make an official decision until Friday, but you should expect to see J.J. back in a Orlando for the next few years.