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://slamonline.com nbk

    The Derrick Rose / Kevin Durant rule. Congratulations to those guys, that is a nice chunk of change.

  • http://www.slamonline.com Jahmai

    Worth every penny.

  • Bx Baller

    ^ consign , it’s nice to see guys get paid when they are actually good. Sucks to see guys like rashard Lewis get paid. How is he not being amnestied??

  • http://nyill.wordpress.com Enigmatic

    Wait, the Bulls are expected to challenge for a title the next few years?
    I thought you said no one outside their locker room considered them serious contenders?
    Interesting.
    Anyways, no-brainer move.
    @Bx Baller- I think the Wizards will amnesty Shard after this season to try to become a player in the 2012 free agent class. We’ll see.

  • trusoldier

    he is very very talented but that is too much money for any player no matter what sport when teachers are being laid off. that same thing with that pulhols deal.

  • Jono

    Great stuff, superstars should always stick with the teams that drafted them. I’m looking at you Melo.

  • http://slamonline.com nbk

    It’s not worth it because they have to spend the money regardless. You would rather pay a guy to shoot jumpshots for your team and not someone else right? Especially if that guy isn’t going to help or hurt your team in any significant way by staying on the roster.

  • http://slamonline.com nbk

    And like Matic said, they can amnesty him at any point before his contract runs out during the 15 day amnesty window during the off-season. They’re more likely to use it when they have someone else they’re interested in.

  • DeeDre

    Great move by the Bulls to lock him up. Worth it. Off the topic, but do you guys think the Rip Hamilton signing would actually make the Bulls significantly better? I mean, really now they might suffer a little on the defensive side for added offense. Much needed offense, mind you, but i’m just interested in hearing you guys’ thoughts. I like what Rip gives the Bulls, but does it really make them better?

  • jayrose

    Happy to hear my boy is gonna stay with us and very well deserved salary.

  • http://slamonline.com nbk

    If you look for the announcement article on Rip’s signing we had a pretty lengthy conversation on that topic.

  • http://cnbc.com JTaylor21

    Enigmatic, stop with the “no one believes us” mentality. Everyone and they mama knows that the bulls are legit contenders for the next couple of years with Rose and Thibs at the helm. Now all they have to do is get rid of Boooooooooooozer and they become the fav.

  • Ldub20

    glad to see DRose get his money.

    @deedre—-Rip hamilton is a under rated defender. is he lock down like bogans? no…but its not like hes a push over. he is a very intelligent player and what he lacked in physical presence, he will make up with his IQ.

  • http://cnbc.com JTaylor21

    Brewer has to be the one guarding the kobes and wades of the world because Rip’s IQ will be useless against those guys.

  • http://nyill.wordpress.com Enigmatic

    @TruSoldier – I disagree with you. Do you think it’s realistic to pay every teacher millions of dollars? Or would you rather the NBA players receive salaries equivalent to what teachers make? In that case do you know who would end up with those millions of dollars that would have gone to the players? It wouldn’t be me or you or your favorite elementary school teacher, it’d just go straight into the owners’ pockets.
    @JTaylor – It’s not a “no one believes us mentality”
    That comment was directed at one guy and one guy only, Marcel Mutoni.
    The man who wrote on the Carlos Boozer “Bulls can accomplish a championship” post, and I quote – “Despite their bravado, no one outside of the Bulls’ locker room considers Chicago to be a true title contender” and is suddenly now saying ”The Chicago Bulls are a young team on the rise and are expected to challenge for a championship for the next few years”
    Things that make you go hmm…
    @DeeDre  – based on what I’ve seen from Rip in admittingly only one preseason game he improves the offense at the 2 guard spot by like a whole f*cking LOT.
    Defensively though? He aight, but I worry about him helping too much on D, he leaves his man wide open too often to help with a double or pack the paint, someone like Ray Allen is gonna kill us this year.
     

  • http://cnbc.com JTaylor21

    Enigmatic, ooooops. Let me ask you this though; who do you think is going to be the deciding factor for CHI to beat MIA if they meet in the playoffs again?

  • cheecagomayne

    for ppl to say that that is too much for someone who plays basketball needs only to look in the mirror. we go to watch the games, we create a high demand for basketball. its a simple rule of supply and demand.
    oh yeah congrats to drose you deserve it dood.

  • http://nyill.wordpress.com Enigmatic

    JTaylor – I wouldn’t put it on just one guy. Even though Derrick “Humblebot” Rose puts the loss last year on him, I think this year it’ll be mostly on him, Rip and Boozer.
    I think if Booz can somehow, some way put up 20 and 10 in that series, or at least equal Bosh’s output (cause I just don’t have faith that he could surpass it) that would be a tremendous help.
    If Rose can be better conditioned and somehow do a better job when that 6’8”, 270 pound monster (or “nearly-Shaq”, as LakeShow would call him) is guarding him.
    And if Rip can be a pest for Dwyane Wade, make Wade chase him around when they’re on offense, and get under his skin a bit when they’re on defense, that’ll help.
    Something else that will slightly help is rookie Jimmy Butler, someone else they can put on Wade and James.
    Is he gonna stop them or even slow them down? No, but that’s six more fouls the Bulls can use, someone Thibs can put in to rest Deng without the defense suffering, and he’d do a better job of guarding James if he was blindfolded and had his arms tied behind his back than Kyle Korver ever could.  

  • http://slamonline.com nbk

    Ronnie Brewer is still on the roster. And he’s the best defender they have, probably top 5 perimeter defenders in the whole L.

  • ThaWindy

    Congrats to the man that let his game and hard work earn him his contract.

  • MUBWAR

    jtaylor nobody. the bulls(as constructed) cannot beat the heat. bosh got boozer in his back pocket and rose can’t stand up to either wade nor james. they’ll make for a good second round or conferance finals team

  • http://nyill.wordpress.com/ O

    Under current rules, wouldn’t have Rose made more money after his contract expired and resigned with the Bulls??

  • http://www.slamonline.com Dagger

    Enigmatic, are you serious? So because a more equitable distribution of wealth is impossible (or at least difficult) in the prevailing economic system, it shouldn’t even be considered? What about attempting to change that economic system? Granted, a world where teachers make millions of dollars is impossible and actually undesirable, but we should definitely be striving towards a society in which everyone makes a fair wage. Nobody should make $94 million over 5 years while half the country is mired in poverty.

  • http://slamonline.com LakeShow

    ^Yes

  • http://cnbc.com JTaylor21

    Elite athletes like Rose deserves to be paid as much money as possible because they are only 300 of them in a world of 6 billion people. Why is that so hard to understand?

  • http://slamonline.com nbk

    I don’t think Derrick Rose’s salary is the red flag that proves the economy is broken. And taking money away from athletes and redistributing throughout the country wouldn’t really change anything. Athletes salaries are a tiny tiny tiny portion of the overall economic situation. I think America wastes way way way way way way way way more money on remedial things like jet fly-overs at sporting events that cost millions of dollars for a 2 second pass-by. Or all the money the government spends on private travel for important political figures that don’t really need it. Stuff like that. Paying someone money that they actually earn (We the people, buy tickets, jerseys, cable, ect) that should go right to the people involved in the things we are paying for.

  • http://nyill.wordpress.com Enigmatic

    “A society where everyone makes a fair wage”.
    Isn’t that what Karl Marx and Friederich Engels were going for back in the 1800′s?
    How did that work out?

  • http://slamonline.com LakeShow

    That was @ O. I think the Bulls will make the Eastern Finals. Then I pretty much have it as a tie between MIA and CHI. Can’t decide which team is better. I think the Bulls are better defensively. While they are slightly less offensively capable even after the addition of Hamilton. Don’t know who I have making it out of the east as of right now.

  • http://cnbc.com JTaylor21

    Are the bulls better than the Heat defensively especially with the addition of Battier?

  • http://slamonline.com nbk

    Not in the playoffs.

  • http://nyill.wordpress.com Enigmatic

    Agreed.
    Plus Bulls lost an elite defender in Bogans, Heat gained one in Battier.

  • robb

    you make as much money as your enterprise allows, know how teachers can be millionaires? have a privatized educational system.

  • http://www.basketball-reference.com/players/h/hamilri01.html Allenp

    Well, it’s always interesting to hear Americans complain about poverty and wages.
    I mean, what we consider poverty is middle class in a lot of places in the world.
    And there will never be an equitable distribution of all of the world’s wealth because that would require human beings to behave, in unison, against their own self interest. That will never happen.
    That doesn’t mean you can’t advocate for better wages and benefits, but that has nothing to do with how much money Derrick Rose makes.
    People spend a lot of money on entertainment. That money has to go somewhere.
    If you want to reduce NBA salaries, then the way to do it is to demand a reduction in what the NBA charges people for the privilege of being entertained. Instead, people want to dock the entertainers so they can feel better about spending their time and money on something as frivolous as paying attention to men playing a game.
    Ridiculous.

  • http://slamonline.com LakeShow

    LbJ’s amazing defense on Rose it what makes the Heats seem like a better playoff defending team. I don’t see slightly smaller shaq D’n up on rose again like that. Rose will know how to beat him this year. With that negated, I believe the Bulls are the better rounded defensive team. I think Brewer is as good as Battier now this year. Battier is still real good, but not quite what he use to be on defense from what I saw last year.

  • MUBWAR

    allenp for the win

  • http://cnbc.com JTaylor21

    The Bulls have Boooozer and the Heat don’t.

  • http://slamonline.com LakeShow

    The Heat have Eddy Curry that Bulls don’t.

  • cuseburg

    “Isn’t that what Karl Marx and Friederich Engels were going for back in the 1800s?” No, not really. Dagger has a pretty valid criticism of our current capitalist system. Just because you believe in working towards fairer wages doesn’t make you a marxist or communist.

  • Brahsef

    D Rose def deserves that money. I hate when people say athletes make too much money for just playin ball. They aren’t just playin ball, they’re entertaining the world. If you don’t think entertainment is important try a life without any.

    Anyone can become a teacher, not everyone can be a top 10 basketball player in the world. Not to discount teachers, its the truth.

  • http://cnbc.com JTaylor21

    The Lakers have CP….oooops.

  • http://www.basketball-reference.com/players/h/hamilri01.html Allenp

    Your point made sense up until you said “Anyone can become a teacher.”
    Technically it’s true, but it’s just as difficult to become a world class teacher as it is to become a world class NBA player.
    The best teachers are wonderful. But, just like there are quite a few cats not making the grade in the NBA, there are lots of folks not making the grade in the classroom.
    I just think it’s weird how often people get upset at the money athletes receive. People are strange.

  • Brahsef

    @AllenP

    Work ethic wise, to become a world class teacher is = to a world class nba player. All I was tryin to get at was you can’t compare professional athletes to other professions because very few people have the natural gifts to even make the NBA. Many people have the natural gifts to be able to teach. Teachers don’t make much, because a lot of people are able to become teachers.

  • http://www.youtube.com/watch?v=ca8Z__o52sk cheecagomayne

    god dammit two paragraphs written for nothing. just click my name for milton friedman to explain why creating fair wages through gov’t intervention is useless in order to fight poverty

  • http://www.youtube.com/watch?v=INvKPYdTs3E cheecagomayne

    it’s funny how everyone blames capitalism for our current recession. yet ppl forget that it was gov’t policy that created the housing bubble. when gov’t gives benefits to big companies it creates monopolies and devalues the power of the consumers. in a true free market a company can only thrive on the value of its product and not have the safety net of lobbyists and the gov’t.

  • LA Huey

    “If you want to reduce NBA salaries, then the way to do it is to demand a reduction in what the NBA charges people for the privilege of being entertained. Instead, people want to dock the entertainers so they can feel better about spending their time and money on something as frivolous as paying attention to men playing a game.
    Ridiculous.”
    GAME. SET. MATCH.

  • http://bulls.com airs

    we really talking about economics…

  • http://www.youtube.com/watch?v=INvKPYdTs3E cheecagomayne

    well i think it shows that ppl are concerned about our current ways. whether republican or democratic we all our concerned about our current system. and i feel that ppl need to understand as a consumer you have more power than what the gov’t leads you to believe. we all have our opinions and i gladly respect everyone’s, i just don’t agree with them. lol anyways can’t wait for Christmas imma b sitting on the couch all day eating tamales and watching some bball.

  • IAMORANGE4EVER

    Jono, why aren’t you looking at KG, Bron Bron, and Bosh as well? Bottom line, it’s the players choice, and they can’t be forced to sign an extension with the franchise that drafted them should they choose not to. Another thing, Melo stayed with the Nuggets for damn near 8 seasons. It’s not like Melo just up and left Denver after his rookie contract, nope, he re-signed and stayed in Denver, but the third time around he chose to come home to New York City. Can’t hate that, unless of course you’re a bitter Nugget fan.

  • ryan

    he’s great and deserve those moneys.not like rashard lewis lol

  • jake

    I don’t know about ya’ll…but my teachers didn’t deserve to be paid any more than they were already getting. I knew more about the curriculum than 3/4′s of them.

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