Wednesday, December 21st, 2011 at 12:00 pm  |  64 responses

Derrick Rose, Chicago Bulls Agree to 5-Year, $94 Million Extension


by Marcel Mutoni / @marcel_mutoni

The “Derrick Rose Rule” is going to make Derrick Rose a very rich man, something he’s quite pleased with.

As expected, the Chicago Bulls and their superstar point guard have agreed to a 5-year, $94 million contract extension. A press conference announcing the deal will take place at the Berto Center today.

The Chicago Tribune has the details:

Derrick Rose has agreed to a five-year, $94.8 million contract extension, and the Bulls will make the formality official at a Wednesday news conference at the Berto Center, sources told the Tribune. “It’s something big,” Rose said without confirming the announcement. “I’m going to talk about it more with my family there. I don’t think about money. The Bulls show they trust me. I just feel blessed.”

The extension is for about $10 million to $11 million more than Rose would have been eligible for under the previous collective bargaining agreement. The newly nicknamed “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 at $16.3 million in the first year. Rose, 23, said the extension won’t change him.

The extension is a no-brainer for both parties.

The Chicago Bulls are a young team on the rise, and are expected to challenge for an NBA championship for the next few years. And as the reigning MVP (the youngest player to ever win the award, no less), Derrick Rose is very deserving of the contract.

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  • http://nyill.wordpress.com Enigmatic

    I had some great teachers and some not so great ones.
    LOL imagine if teachers WERE like pro athletes though in a sense that they could sign a three year contract straight out of college, then renegotiate for more years and money depending on their performance, or become a free agent and sit around and wait for offers from other schools.
    LOL they could even have a teacher draft every year.
    “And the number one pick in the 2011 Midway USD 433 school district teacher draft is….”

  • Wray

    Worth every penny.

  • http://thetroyblog.com Teddy-the-Bear

    Co-sign Dagger 100%.
    The idea that there CAN’T be a more equitable distribution of wealth is complete and utter bullsh!t. You don’t have “democracy” if the financial sector of your society is a tight-knit dictatorship. Contrary to popular belief, the thinkers and philosophers of the Enlightenment, in crafting the ideas of “liberty” and “freedom,” did NOT intend for people to be workplace drones while fractions of a percent of the population control everything.
    America is seriously going down the tubes, and it’s dragging 95% of the world with it. Obama signed NDAA and now American citizens can be detained indefinitely without trial. SOPA is a piece of legislation that attempts to control our internet and literally ban individuals from gaining access to it.
    Yet we should do NOTHING?! Wait, not nothing, right? Let’s vote for Obama in 2012 to get more of the same “change.” Maybe we’ll see 3000 Syrians die instead of the measly 1000 Libyans. Jesus Christ.

  • http://thetroyblog.com Teddy-the-Bear

    @ Allenp: More equitable distribution of wealth doesn’t mean people can’t seek self-interest. If anything, more equitable distribution of wealth means MORE people are seeking self-interest. This is the twisted logic of capitalism as we see it today–the idea that you are seeking YOUR self-interest while YOU have nothing, and THEY (the bankers, etc.) have everything. Whose self-interest are you seeking in accepting these conditions?

  • Cool Dude

    Bunch of commies up in here. Atheletes are paid according to what the market demands of them. If a million people are willing to pay a dollar to see an athlete, then that athlete deserves the million dollars.

  • http://www.facebook.com/gametimeweezy Gametimeweezy

    What would be even better is if the collective bargaining incorporated a way for vastly underperforming players to get a pay decrease. Union would never go for that. And I’m pretty sure teachers unions do go on strike all the time for wage increase and better benefits. State budgets just don’t allow for it nowadays which is sad.

  • http://nyill.wordpress.com Enigmatic

    Yeah, you got unions that fight for fair CBAs in all kinds of professions, but I was literally talking about a teacher and an agent sitting down with a school superintendent and negotiating, like they were athletes.
    “I want a no-trade clause!”
    Just having fun with it. I’m bored, yo.

  • http://www.facebook.com/gametimeweezy Gametimeweezy

    Haha teachers wish they could get traded… most of the ones stuck in a crappy school district are only there because that district was the only one hiring. Not because they actually give a damb, which they do of course… But do you think a teacher actually wants to work at a poor under-funded school? All teachers should be waived and districts start over with an expansion draft… then we’ll see the ones that truly would ‘play for free’ lol

  • Justin G.

    IAMORANGE, it’s more about how he went about the whole thing. He didn’t exactly tell them he wouldn’t be signing at the end of the year now did he? But of course, I wouldn’t expect a Knicks fan to see that. ;-)

  • Mike From Spain

    It is a f*** up society that which chooses to pay a single ball team more than the whole payroll of a mid sized university. I know it is the market, but what the market does reflects poorly on us as a whole. Note that I am a basketball and soccer fan… but c’mon! Knowledge should go before ball. Here in Spain we pay soccer stars, give special treatment to bankrupt clubs, etc etc and we have all of our best researchers go to the US because we don’t want to spend the money on them. Only if we voluntarily gave researchers the money we give teams, we would be going somewhere. Think how far could 1300 million dollars go… That’s the combined yearly budget for the top two Spanish teams.

  • IAMORANGE4EVER

    Wrong Justin. It’s about choice. Melo made a choice, and Denver didn’t like it. All Melo owed the Nuggets was his loyalty on the court when he put on their uniform, and that he did for 8 seasons. He never shut down on them (I’m looking at you Bill Simmons, Celtic fan) like Vince Carter shut down on the Raptors. Hell, if anyone deserves the finger pointed at them for handling things poorly, it was clearly that diva head coach in Denver, George Karl.

  • harlem_world

    nbk – you see Brewer as a superior overall defender than Deng?

  • http://slamonline.com nbk

    Yes.

  • http://slamonline.com nbk

    Tony Allen, Andre Iguodala, LeBron James, Thabo Seflosha, Deshawn Stevenson are the only guys in the league that I think an argument can be made that are better perimeter defenders. (Stevenson only on the ball, he is a porous off the ball / help defender, he’s too lazy)

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