NBA Rumors: Derrick Rose Nearing Five-Year Contract Extension With Chicago Bulls, According To Report

Derrick Rose was eligible to sign an early contract extension thanks to a new rule that allows rookies to get more money sooner if they reach certain performance benchmarks, and it appears he will sign that extension soon. Chicago Bulls general manager Gar Forman said he is finalizing a five-year, $94 million contract extension for the 2011 MVP, according to K.C. Johnson of the Chicago Tribune.

Rose is able to get a higher maximum contract because of a new rule that allows players to make a maximum of 30 percent of the salary cap if they either win an MVP award, get voted as an all-star starter twice or be named to two all-NBA teams in their first four years in the league. Rose is the only member of the class of 2008 currently eligible to receive this contract.

For more on Rose and the Bulls, visit Blogabull or SB Nation Chicago.

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