Both Ryan Arcidiacono and Bulls fans alike are breathing a sigh of relief this Tuesday evening.

As first reported by Shams Charania, and later confirmed by Chicago Tribune's K.C. Johnson, Arcidiacono and the Bulls have agreed to a three-year, $9 million deal. The Bulls were able to sign Arcidiacono because they had his early Bird rights, meaning they still have the $4.76 million room exception to use one more player to round out their offseason.

For Arcidiacono, it's the payday he's been waiting for and finally gives him some security after playing last season on a parially guaranteed deal (that was made fully guaranteed in January as the Bulls dealt with myriad injuries).

Arcidiacono certainly earned the deal. His high basketball IQ, relentless play and hot shooting to begin the year helped keep the Bulls afloat while they dealt with backcourt injuries to Kris Dunn and Denzel Valentine and then failed to get any production from Cam Payne in the first quarter of the season.

Arcidiacono wound up leading the Bulls in games played with 74 appearances, averaging 6.7 points and 3.3 assists in 24.2 minutes per contest.

He'll slot in fourth on the Bulls' depth chart behind Tomas Satoransky, Kris Dunn and Coby White. But there's a chance Dunn is on the move, with the Bulls investing in Satoransky and White over the last three weeks and re-upping Arcidiacono for three more years.

Dunn feels like the odd man out - it's unlikely the Bulls will keep four point guards - and Dunn, in the final year of his rookie contract, could be moved for cheap.