Deng agrees to 6 year/$70 million extension, Per ESPN Options

[TeaLeafReaderII]

6 years 70 mill!

Sources: Deng, Bulls on verge of six-year, $70M deal
By Marc Stein
ESPN.com

That status appeared to be slammed home Tuesday night when NBA front-office sources told ESPN.com that Deng and the Bulls, after more than a year of slow-moving negotiations, are suddenly on the verge of completing a new contract that will keep the restricted free agent in Chicago.

With Deng committed to leaving for England by week's end to join Great Britain's national team -- and insisting to the Bulls that he would not negotiate with them further without a deal by Friday -- sources said that the sides have verbally agreed on a new six-year pact believed to be worth in excess of $70 million.

Sources said that Deng's agent, Jason Levien, flew into Chicago to spend Tuesday at the Bulls' offices finalizing the deal, which could be announced as soon as Wednesday.

Given his modest background growing up in the Sudan and Egypt before moving to London, Deng stressed to the Bulls that he was not bluffing when he vowed to play next season on a one-year qualifying offer worth about $4.5 million for the right to become an unrestricted free agent in the summer of 2009.

The Bulls then gradually raised their offer to a higher annual average that Deng turned down in October, when Chicago was limited to offering him a five-year extension and presented the 6-foot-9 forward with a five-year package worth $57.5 million. As ESPN.com reported earlier this month, Bulls chairman Jerry Reinsdorf chose to personally handle the bulk of the negotiations with Deng's camp as opposed to the standard practice of Bulls general manager John Paxson serving as lead negotiator.

Deng, 23, couldn't avoid being dragged down by the Bulls' nightmare season, with Chicago never recovering from the contract extensions that he and teammate Ben Gordon failed to secure in October and smothering speculation about a trade for Kobe Bryant. The Bulls ultimately netted a 33-49 record that cost coach Scott Skiles and interim replacement Jim Boylan their jobs, while Deng played in just 63 games and averaged 17.0 points and 6.3 rebounds, down slightly from his the numbers in his breakout 2006-07 season (18.8 points, 7.1 rebounds and 51.7-percent shooting from the floor) when the Bulls went 49-33 and swept the defending champion Miami Heat in the first round of the playoffs.

But Deng is said to be excited by the Bulls' appointment of rookie coach Vinny Del Negro and, with long-term security achieved, can head overseas with no concerns about the future. He's trying to help his new national team -- Deng received a British passport in October 2006 -- qualify for the 2009 European Championships and continue the restoration of Great Britain's basketball program. Team Great Britain is coached by Pennsylvania native Chris Finch, and Deng serves as an official ambassador for the London's 2012 Olympics.

Marc Stein is the senior NBA writer for ESPN.com. To e-mail him, click here

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[SoxFan1]

Thank goodness. Now sign Gordon and get some spiff going Pax!

[Steve9347]

LUOL DENG!!

[DutheDoduhon21]

the first words that came to mind were thank god. im glad they finally got it done, especially before the olympics. i thought they were looking at a 5 year deal but 6yr/70mil sounds fair to me. now lets move on to BG, id rather not see him leave and get him locked up also.

[TeaLeafReaderII]

Tribune confirms.

Says its closer to 71 Million. Incentives can bump it up to 80.

Da Trib

[Balta1701-B]

Yeah, that one we didn't have much choice on. Thanks Pax.

Now the offseason can actually start. Anyone want a shooting guard who wants a contract? A shooting guard with an 2010 expiring contract? A solid but not spectacular point guard? A solid but not spectacular SF? A young PF? A young C? A PF with an expiring contract? Let's hear it.

[eddog2]

Yeah, that one we didn't have much choice on. Thanks Pax.

Now the offseason can actually start. Anyone want a shooting guard who wants a contract? A shooting guard with an 2010 expiring contract? A solid but not spectacular point guard? A solid but not spectacular SF? A young PF? A young C? A PF with an expiring contract? Let's hear it.

The first thing that came to my mind when I heard he signed was thank God now I can still use my jersey. Hopefully for another 6 years. JK.

Anyway, I think the solid but not spectacular PG (Kirk) will be the first to pack his bags. As for the SG that expires in 2010 are you referring to Thabo? I highly doubt they'd let that contract expire without picking up his 2011 option at $3.8 million but if it meant signing or not signing a Wade, Melo, Lebron type player then you can kiss Thabo goodbye.

It's pretty scary actually to think that the Bulls could decide not to exercise the options of Noah, Tyrus, Thabo, & Simmons all after the 2009/2010 season. If they all suck we could send them all packing and then get a big time free agent (we'd essentially be making a trade but really would be giving away free players). Or we could decide not to exercise them but have an agreement with them that we will offer a long term deal after we re-sign a big time player (if that's allowed in the NBA)

[Steve9347]

The first thing that came to my mind when I heard he signed was thank God now I can still use my jersey. Hopefully for another 6 years. JK.

Anyway, I think the solid but not spectacular PG (Kirk) will be the first to pack his bags. As for the SG that expires in 2010 are you referring to Thabo? I highly doubt they'd let that contract expire without picking up his 2011 option at $3.8 million but if it meant signing or not signing a Wade, Melo, Lebron type player then you can kiss Thabo goodbye.

It's pretty scary actually to think that the Bulls could decide not to exercise the options of Noah, Tyrus, Thabo, & Simmons all after the 2009/2010 season. If they all suck we could send them all packing and then get a big time free agent (we'd essentially be making a trade but really would be giving away free players). Or we could decide not to exercise them but have an agreement with them that we will offer a long term deal after we re-sign a big time player (if that's allowed in the NBA)

I'd assume he's talking about Hughes.

[eddog2]

I'd assume he's talking about Hughes.

I forgot he played for the Bulls. JK (but not actually). When I did my trade scenario's I didn't even think about him being in the mix. What was I thinking.

[GreatScott82]

Finally! Now what to do with Gordon... Im hoping he comes back for that one year deal that would let him become an unrestricted free agent next year. Of course im thinking ahead to 2010 when the free agent class will be the most talented ever. Were stuck with Hughes, im guessing we can get something decent for Hinrich.

[SoxFan1]

Finally! Now what to do with Gordon... Im hoping he comes back for that one year deal that would let him become an unrestricted free agent next year. Of course im thinking ahead to 2010 when the free agent class will be the most talented ever. Were stuck with Hughes, im guessing we can get something decent for Hinrich.

Hinrich/Tyrus/1st should be able to net us a good player. I don't necessarily have faith in Paxson though. I still love the idea of going after a Michael Redd, Tracy McGrady, Allen Iverson, Carmelo Anthony, Shawn Marion, Carlos Boozer...

[Balta1701-B]

Hinrich/Tyrus/1st should be able to net us a good player. I don't necessarily have faith in Paxson though. I still love the idea of going after a Michael Redd, Tracy McGrady, Allen Iverson, Carmelo Anthony, Shawn Marion, Carlos Boozer...

The only 2 names on that list I would be interested in at all are Carmelo Anthony and Carlos Boozer...and we just inked a guy who plays Carmelo's position to 6/$71 and he can't be traded for some time now because of it.

[ZoomSlowik]

Redd is actually a damn good fit assuming you move Gordon. He's still only going to be 29 when the season starts and jump-shooters tend to hold up reasonably well, he's a bigger 2-guard (though still not a great defender), he gets to the line a lot and you don't lose much (debateably anything, attempts vs percentage though last year he didn't shoot quite as well) in the 3-point shooting department. He's still not a truly elite #1 option, but he's been more legit/consistent than what we have and can help carry the load a bit while some of our other guys develop and can easily slide in as a more complementary guy down the road.

[Chisoxfn]

Finally! Now what to do with Gordon... Im hoping he comes back for that one year deal that would let him become an unrestricted free agent next year. Of course im thinking ahead to 2010 when the free agent class will be the most talented ever. Were stuck with Hughes, im guessing we can get something decent for Hinrich.

A year from now the Bulls won't be stuck with Hughes, but right now it appears that they will be. They can get something decent for Hinrich but I honestly think the Bulls should hold onto Hinrich and stick with him and Rose. The Bulls will have no legitimate back-up if Hinrich is gone, unless they believe Hughes/Sef can handle the back-up point guard duties.

I personally believe we'll see Gordon sign the one year tender with the Bulls looking at moving Hinrich/Gordon/etc in an in-season trade or just wait for Gordon to leave this off-season in what could potentially turn into a sign and trade deal (as I'm sure the Bulls would be happy to broker such a move).

Clearly there is an abundance of guards, plus you have the issue with both Deng and Nocioni, however, I believe we'll see a bit of Noc at the 4.

[Chisoxfn]

Hinrich/Tyrus/1st should be able to net us a good player. I don't necessarily have faith in Paxson though. I still love the idea of going after a Michael Redd, Tracy McGrady, Allen Iverson, Carmelo Anthony, Shawn Marion, Carlos Boozer...

First off, with the Rockets acquisition of Artest you can bet your butt that McGrady isn't going anywhere. I have little interest in an aging AI (a player who will never win the title).

I would have interest in Redd because I wouldn't mind a bigger, pure shooting guard. However, if you are going to acquire Redd you better be using Gordon as bait. Would Skiles really have interest in Ben, probably not? But what is the point of having both Ben and Redd on the same roster (Redd is essentially a taller version of Ben).

Lastly, the Bulls certainly aren't going to trade Tyrus unless they are getting a big or legitimate star in return (of that list, Carmelo is the only guy who fits). I personally would have no problem with Deng/Melo in the same offense and would give up a package including Hinrich/Gordon/Tyrus/Future #1. I don't know if the Nuggets would make that deal though.