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It’s official: Derrick Rose agrees to max extension with Bulls

Dec 20, 2011, 9:04 PM EDT

Derrick Rose AP

This was as expected as Santa’s rounds in a few days.

Derrick Rose has agreed to a five-year, $94 million max extension with the Bulls, reports Aggrey Sam at CSNChicago.com. That actually is a super-max deal under the “Derrick Rose” rule in the new CBA that allows players getting their first extension of their rookie deal to get 30 percent of the salary cap (up from 25 percent) if they have been named league MVP (or have made two All-Star teams). What that means is Rose will make a little more than $10 million additional in those five years.

The big raise kicks in next season, when Rose will make about $16 million.

In case you were trapped in a mine last year and missed it, Rose was named league MVP averaging 25 points and 7.7 assists, essentially carrying the Chicago Bulls offense all the way to the Eastern Conference finals. He is the Bulls cornerstone, the future, the reason they are contenders. This is a max guy without question.

The signing is good news for Bulls fans, who will have Rose around until the middle of the decade at the very least now.

  1. Reddy - Dec 20, 2011 at 9:25 PM

    Good.

    • florida727 - Dec 21, 2011 at 8:10 AM

      Way good. I’m a lifelong Chicago sports fan and for one year got to cover the Bulls for a local sports radio station. As much as I can’t stand the Bulls management and ownership, even I have to admit they finally did something right. Now let’s see if they can add the final piece or two to the puzzle and get/pay the players they need to in order to win another championship.

    • 973yenots - Dec 21, 2011 at 2:09 PM

      That year of the lottery was fixed! Stern made sure of it! Cause he hates pat riley! Wouldn’t be the first time he screwed riley!

  2. joj0420 - Dec 20, 2011 at 9:33 PM

    thats what im talking about!! Let’s go Bulls!!

  3. acdc363 - Dec 20, 2011 at 9:41 PM

    He deserves it

  4. pudgalvin - Dec 20, 2011 at 9:41 PM

    Very good. For a team that won 66 games last year and certainly didn’t get worse (probably got a little better, especially if these preseason games have any meaning whatsovever), the Bulls are flying way under the radar. If they can get any offense from Rip and Boozer in the playoffs, I think they can go toe to toe with the Heat in the East.

  5. pudgalvin - Dec 20, 2011 at 9:43 PM

    Blah. 62 games.

  6. woakland - Dec 20, 2011 at 10:50 PM

    Trapped in a mine? Show some class

  7. albie23 - Dec 20, 2011 at 11:46 PM

    That’s great that they made D. Rose a priority way ahead of time, this will only help now and in the future.

  8. mondzy805 - Dec 21, 2011 at 1:43 AM

    Great move by both parties. Derrick is Chicago. Lets go Bulls. Its our time, once again.

    • virusgvr - Dec 21, 2011 at 12:10 PM

      Just like its Lebron’s time? Every year?

  9. tampajoey - Dec 21, 2011 at 2:01 AM

    Congrats Bulls, Chicago fans and Derrick Rose. Awesome to see a superstar player stay loyal to his team and fans for a change.

    • blueintown - Dec 21, 2011 at 7:16 AM

      I think you meant to say “Awesome to see a superstar stay loyal to a 5-year $94m contract, the largest rookie extension in the history of the game”.

      • tampajoey - Dec 21, 2011 at 11:30 AM

        Nah, superstar players get paid no matter where they play.

      • blueintown - Dec 21, 2011 at 1:10 PM

        I’m not disputing that. But this isn’t a show of loyalty. It’s a sign of logic. A sign of unaffected loyalty would be Derrick going to the Bulls and saying “sign me for five years at four million a year, use the rest to make the team better”. Don’t get the wrong idea, I’m not saying that’s what he should have done. I’m just saying this isn’t a matter of loyalty to a city, team, or fans. It’s just a dude gettin’ paid. I’ll be loyal for 94-large.

  10. glink123 - Dec 21, 2011 at 7:36 AM

    this is how the system *should* work. current teams should be given a huge financial edge toward be able to re-sign their existing superstar players. this will reduce the LeBron/Bosh trend signings. although this is Chicago, and not Cleveland. can’t say that I blame LeBron. if I had $400 million, I’d choose to live in South Beach over Cleveland 100 out of 100 times.

    • blueintown - Dec 21, 2011 at 7:52 AM

      This IS how the system has always worked. Teams do have a huge financial edge in the ability to retain their superstars.

  11. kevinofili9 - Dec 21, 2011 at 9:02 AM

    It must be nice to be in a big market where NBA players actually resign

  12. dadawg77 - Dec 21, 2011 at 9:15 AM

    Current teams dont have a huge advantage to signing UFA super stars. The difference is what two million a year and an extra year which is meaningless with player opt outs.

  13. jondigital - Dec 21, 2011 at 10:40 AM

    He’s so humble for taking a max deal.

  14. philtration - Dec 21, 2011 at 10:40 AM

    Nice!
    You know that you have a great player locked in for years and he gives you 100% every night.
    On top of that the Bulls looked really good with their new SG last night.
    Rose and Hamilton both said that playing together came very easy to them.
    Everything opened up in the paint and Boozer was able to get some easy baskets.
    The same should happen for Luol Deng and Taj Gibson during the season.

    The Bulls are a better team than last year.

  15. tampajoey - Dec 21, 2011 at 11:27 AM

    Something that I always thought was interesting was that several states (7) do not have state income tax including Texas and Florida. With these huge NBA contracts I’d think there would be a big benefit to play in Florida or Texas and not having to pay the 5% – 10% state income tax.

    Kobe pays 10% state income tax in California where as Wade, Bosh, Lebron and Dirk pay 0 in state income tax in Florida and Texas.

    • dadawg77 - Dec 21, 2011 at 7:58 PM

      It would only be for half your games as other states and cities have entertainer tax. So you may end up paying taxes for a great majority of your away games. Doesn’t hurt players in taxed states as they can deduct those taxes from the amount due in income tax due to their state.

  16. asublimeday - Dec 21, 2011 at 12:03 PM

    Blueintown,

    Rose would’ve been able to force a sign and trade for the same amount like several primadonnas around the league in recent years, but he is loyal to his team and city.

    The league could definitely use a lot more Derek’s

    • blueintown - Dec 21, 2011 at 1:14 PM

      I don’t disagree with your last statement, but it has nothing to do with loyalty. The dude is getting paid. People always complain about two things: Loyalty, and the common players lack of desire to win. But these two things often run counter to each other. He’s not forcing a sign-and-trade because the Bulls are good. If they were bad, he may feel differently. People complain about LeBron’s lack of loyalty, but completely overlook the fact that he gave up money in the interest of having a better opportunity to win.

      • liltmac2003 - Dec 21, 2011 at 3:16 PM

        Just to get this straight.

        You’re saying Derrick Rose isn’t loyal to the Bulls because he signed with them for 5 more years?

        But Lebron left the Cavs and their $120mil and signed with the Heat for $110.1mil, that’s giving up money? As stated above in one of the comments, Florida has no state tax.

      • blueintown - Dec 21, 2011 at 3:31 PM

        I’m saying that the press conference in Deerfield today was not about loyalty. It was about $94 mil. Everyone in St. Louis gushed about Albert Pujols’ loyalty until $254 mil later..

  17. mistercharitystripe34 - Dec 21, 2011 at 4:11 PM

    Obviously Rose loves the money but he’s also worked tremendously hard for it and has remained humble in comparison with other superstar players. He’s quick to take accountability for losses and rarely ever takes much credit for wins, constantly harping on “the team, the team.” The Bulls have a legitimate shot at the title for the next few years if they can keep the nucleus around Rose in tact. Rip Hamilton, if he can stay in shape, will help the starting lineup for the next two seasons. It’ll be interesting to see how they look this season.

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