Update: Butler has committed to playing for Team USA in the 2016 Summer Olympics in Rio de Janeiro, Marc Stein of ESPN.com reports.
Analysis: Talks have been swirling this week about the possibility of the Bulls dealing away Butler, but those discussions may have lost some momentum after the team decided to trade their other high-profile backcourt starter, Derrick Rose, to the Knicks. With Butler's future with the Bulls seemingly secure for the time being, he can turn his attention to participating in his first Olympic Games. While Butler has fully established himself as a franchise player the last two seasons, he might have trouble finding the court on a star-studded U.S. roster. He'll have to compete for minutes with a group of wings that includes Kevin Durant, Carmelo Anthony and Paul George.