(Yeah I saw the other thread with little to no information so here's the official one...with more details)
Derrick Rose has agreed to his five-year, roughly $94 million contract extension and the Bulls plan to make the formality official either later Tuesday or Wednesday, sources told the Tribune.
The extension is for roughly $10-11 million more than Rose would've been eligible for under the previous collective bargaining agreement. However, a new rule, which has been nicknamed the "Derrick Rose rule" rewards players who outperform their rookie scale contract. Rose qualifies for one of the three stipulations by virtue of becoming the youngest most valuable player in NBA history last season.
The extension will begin in the 2012-13 season and is eligible to start near $16 million in the first year. Rose, 23, told the Tribune recently that he isn't focused on the financial windfall.
"I don't play for money," he said. "I play to win."
Derrick Rose: Derrick Rose agrees to five-year contract extension with Chicago Bulls - chicagotribune.com (http://www.chicagotribune.com/sports/basketball/bulls/chi-rose-agrees-to-fiveyear-contract-extension-with-bulls-20111220,0,3389249.story)
(View full article @ BX below)
[NBA] Rose agrees to five-year contract extension with Bulls (http://slumz.boxden.com/f16/rose-agrees-five-year-contract-extension-bulls-1672295/)