Blog Entry

Bulls announce Derrick Rose contract extension

Posted on: December 20, 2011 10:11 pm
Edited on: December 21, 2011 4:57 pm
Posted by Ben Golliverderrick-rose-chicago

2011 NBA MVP Derrick Rose will lead the Chicago Bulls for the next five years.

The Associated Press reports that the Bulls and Rose made the 5-year $94 million contract extension official in a ceremony on Wednesday in Chicago. The deal does not include a player option on the final year of the deal, per Rose's request.
 "I think I can finally say this now. Mom, I finally made it," he said.

"He embodies all the characteristics that you look for," coach Tom Thibodeau said. "It's a lot more than the talent. The talent is the obvious part. Then, when you look at his will to win, basketball IQ, unselfishness, his humility - I think those are the things that you can build a championship-caliber team around."

"I don't think you can put a ceiling on what Derrick can become," general manager Gar Forman said. "It's scary to think that I think he'll continue to get better and better throughout his career."

The extension could bring some more pressure. Rose shrugged it off. He said money is "the last thing I think about."

"Coming from where I'm coming from, I can't explain it," he said. "I really can't explain it. I never would have thought in a million years that I would have signed a contract like this, especially coming from an area where I'm from. No one from Englewood has ever been in my position so sometimes I think, `Why me?"'
The Chicago Tribune reported on Tuesday that the Bulls would formally announce the signing of Rose to a 5-year contract extension worth more than $90 million on Wednesday.
Derrick Rose has agreed to a five-year, roughly $94 million contract extension, and the Bulls plan to make the formality official at a Wednesday news conference at the Berto Center, sources told the Tribune.

The extension is for about $10 million to $11 million more than Rose would have been eligible for under the previous collective bargaining agreement. A new rule that has been nicknamed the "Derrick Rose rule" rewards players who outperform their rookie scale contracts. Rose qualifies for one of the three stipulations as he became the youngest most valuable player in NBA history last season.

The extension will begin in the 2012-13 season and can start at about $16 million in the first year.
Inking Rose, 23, to a maximum contract extension is as easy a decision as you will ever find in basketball operations. By any measure, his value is off the charts.

The year before he arrived, Chicago won 33 games; last year, the Bulls went 62-20. In his three NBA seasons, Rose has missed just six games in winning the 2009 Rookie of the Year award, being named to the 2010 and 2011 All-Star teams and capping it all off with an MVP campaign in just his third season while leading Chicago to the Eastern Conference Finals. He averaged career-highs in points, assists, rebounds, steals and blocks last year while upping his 3-point and foul shooting percentages. Give me a break.  

Word that Rose and the Bulls were closing in on a contract extension first surfaced last week

Since: Mar 25, 2011
Posted on: December 22, 2011 12:31 am

Bulls announce Derrick Rose contract extension

The Heat will still own the Bulls in the playoffs.

Since: Jan 23, 2007
Posted on: December 22, 2011 12:23 am

Bulls announce Derrick Rose contract extension

Like another poster said - Noah is locked up long term ... as is Deng and Boozer. The core of the roster is set for the forseeable future. As for Krause ... what the hell does he have to do with anything. He hasnt been the GM since 2003.

Since: Dec 18, 2011
Posted on: December 21, 2011 10:26 pm

Bulls announce Derrick Rose contract extension


Since: Dec 31, 2010
Posted on: December 21, 2011 6:55 pm

Bulls announce Derrick Rose contract extension

Great day for the Bulls and Derrick Rose. 

Since: Aug 27, 2006
Posted on: December 21, 2011 6:21 pm

Bulls announce Derrick Rose contract extension

bullramdoyers, you do realise that Noah signed a 5 year contract extension on 4 October 2010 don't you?

Since: Apr 20, 2010
Posted on: December 21, 2011 4:40 pm

Bulls to announce Derrick Rose contract Wednesday

Extremely Humble, that why he took a max contract. Just call him wade, lebron or any other of those fools who max out and didnt care about a championship. That max deal will prevent a Noah extension. Cant have two max guys, to close to max guys and without going into luxury tax. And fat Kruase will never do that.

Since: Nov 8, 2011
Posted on: December 21, 2011 3:55 pm

Bulls to announce Derrick Rose contract Wednesday

Nothing like a player who wants to play for his hometown team, help the area where he grew up, extremely humble, and loves his mom.  Every team wants a guy like that.  Congratulations Chicago!

Since: Mar 21, 2007
Posted on: December 21, 2011 1:59 pm

Bulls to announce Derrick Rose contract Wednesday

Ha ha, Huffington Post. Perfect comment: What a sh--ty site that is.

Since: Oct 6, 2006
Posted on: December 21, 2011 1:10 pm

Bulls to announce Derrick Rose contract Wednesday

The Bulls had no choice, once the Rose rule made it into the new CBA.  It is good that they took care of the face of their franchise, but is bad because they have no cap space.  It's kind of hard to improve your team when all you have to work with is late draft picks, the mid-level exemption or trading away your depth.

Since: Dec 1, 2011
Posted on: December 21, 2011 1:07 pm

Bulls to announce Derrick Rose contract Wednesday

The NBA needs to have some publicity that is positive to hand their hat on. Coupled with the fact that the "new CBA rule" was created with him in mind does not hurt either. Not a Bulls fan, but this was a great move to be one of the first teams that tke advantage of the new CBA rules. Rose has shown he is not in the same egotistical category as some of the other prima donnas in the league. I remember Rose was one of the new breed players that took the challenge of being that guy on HIS team. Not trying to join forces with other big time players to make winning easy. Now if they can keep Noah and get another quality big. Boozer does not count, he showed last year he is overpaid. They can be a power in the East once again. All this extra money was all because Da Bulls decided NOT to sign Ben Gordon to a large contract which they may have had to amnesty this year anyway. I hope more in his draft class follow his lead.

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