Chicago Bulls star Jimmy Butler has insisted that he hopes he is able to agree on a contract extension with the franchise in the coming weeks.

If the two parties are unable to reach an agreement ahead of October 31, then the 25-year-old will become a restricted free agent at the end of the season.

However, both Butler and the Bulls are confident that they will be able to sign a new deal and secure his long-term future at the United Center.

"I want to be here. I think the Bulls want me here. So however long it takes, as long as we get it worked out. Basketball is my main focus, not really the contract situation," Butler said, ESPN reports.

Butler was selected with the 30th overall pick in 2011 and has grown into a vital part of coach Tom Thibodeau's starting five over the past year.

However, the Bulls coach has emphasised the importance of Butler keeping his focus on basketball matters which will in turn ensure his value to the team increases and a new deal will likely follow.