Chicago Bulls forward Luol Deng will explore free agency next year after the team decided not to talk about extending the versatile forward's contract until after the upcoming season, according to the Chicago Tribune.

Deng's agent, Herb Rudoy, said the newspaper on Tuesday that the team had informed him that there will be no negotiations about extending the contract of the two-time All-Star this offseason or during training camp. Deng is entering the last year of a six-year, $71 million deal with the Bulls. He will make $14.5 million in the final year of his deal.

In June, ESPN.com reported that the Bulls were determining the value of Deng in the market after discussing with the Washington Wizards a deal that would have sent the 6'8 forward to the Wizards in exchange for Emeka Okafor and the no.3 overall pick in the 2013 draft.

The Bulls have been vocal in saying that Deng remains a valuable player of the franchise built around 2011 MVP Derrick Rose. ESPN quoted Bulls general manager Gar Forman as saying that Luol is a big piece of the Bulls' championship puzzle, and that he will continue to play a large role in the Bulls in the future.

Deng was the NBA leader in minutes per game both in the regular season and postseason last year. However, he missed the final seven playoff games of the Bulls due to complications from a spinal tap. Considered as Rose's sidekick, Deng is valued not just for his offense (16.5 ppg last year) but also for his defense especially against top-tier forwards like LeBron James and Carmelo Anthony, who both play in the Eastern Conference.