Bulls G Derrick Rose tears ACL in left knee during Game 1 vs. 76ers, done for season

The reigning NBA MVP is down for the count.

The Chicago Bulls announced on Saturday that point guard Derrick Rose has torn the ACL in his left knee and will miss the remainder of the 2012 NBA playoffs.

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Given that the average recovery timeline from an ACL surgery is 6-to-9 months, Rose can safely be ruled out of the 2012 London Olympics. Rose was one of 16 remaining finalists to make USA Basketball's Olympics roster.

The injury occurred with less than two minutes remaining in the fourth quarter of Game 1 of a first round Eastern Conference playoff series against the Philadelphia 76ers. The Bulls were up 99-87 when Rose drove into the paint and jump-stopped when met by Sixers center Spencer Hawes. The injury appeared to occur as he exploded into the air. He passed to forward Carlos Boozer and then collapsed back to the ground in evident pain.

The Bulls held on to win Game 1 at the United Center 103-91. Rose finished with 23, nine rebounds and nine assists and five turnovers on 9-23 shooting in 37 minutes.

Veteran guard C.J. Watson is expected to step into Rose's starting spot. Game 2 of the series is set for Tuesday.

Rose, 23, played in just 39 of Chicago's 66 regular season games due to a variety of injuries this season. He posted averages of 21.8 points, 7.9 assists and 3.4 rebounds in 2011-2012.

The Bulls are the Eastern Conference's No. 1 seed, finishing the regular season with a record of 50-16.