On the verge of being completed:

Sources: Deng, Bulls on verge of six-year, $70M deal
By Marc Stein
ESPN.com
(Archive)
Updated: July 29, 2008, 8:43 PM ET
Comment
Email
Print
Derrick Rose was the No. 1 overall pick in last month's NBA draft, but Luol Deng still ranks as the Chicago Bulls' cornerstone player.




Deng

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 2007-08 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 London's 2012 Olympics.

_________________
"Tubby? Oh yes, Tubby."

I'm surprised they caved. He's getting the same amount of money per year as they offered last year, with another year tacked on.

_________________
"Tubby? Oh yes, Tubby."

Luol didn't want to deal with the likely headache over the "c" word another season after he & Ben Gordon both turned down extensions at the start of last year. Both Deng & Gordon had down seasons for a disappointing Bulls' team, and I don't think other NBA teams have been banging on the door for #9, let alone #7 as restricted free agents.

That's because you have to have salary cap space to make a run at a restricted free agent - Memphis is the only team with the ability to do so, and they have made it known they aren't going on a spending spree this off-season...That leaves the Bulls and these guys to work out long-term deals or sign a 1 year deal with the ability to become unrestricted next season.

I wouldn't say he necessarily caved, he did get an extra year, and I'm hearing he could get up to $80 million if certain incentives are met.

BD, you have a valid point concerning teams without salary cap space. I don't think Memphis wants to spend that much money, and I doubt seriously both Deng & Gordon would even consider playing in a half-empty FedEx Forum.

I'm not sure these guys wouldn't leave if Memphis were to make a big offer, but the Grizzlies are sitting out free agency.

Deng = 6 years, 70 million
Okafor = 6 years, 72 million
Biedrins = 6 years, 62 million
M.Ellis = 6 years, 66 million

- It was probably slightly over what he should have gotten. Based on these other guys, he probably should have gotten about 6 years and somewhere between 60-65 which doesn't change his avg $/year much.

I'm saying the Bulls caved. I think they overpaid, but based on what other restricted guys have gotten this offseason, I guess that's the market for a potential 3rd or 4th best guy on a championship team...

_________________
"Tubby? Oh yes, Tubby."

As I said in a previous post, I've seen nothing that warrants any $$$ above the 5yr $57.5 he was offered. They offered him a WEE bit more than that $57.5 and slapped another year to the end of the contract. I think that was an amicable solution to the issue. He's worth keeping around, but, man, that 6yr contract was the absolute TOP that he should have been offered. I'm glad he took it. Now, with the contract worries out of his head, and someone that can get him the ball...lets see how he performs over the next 2-3years, only then, will we see if this was worth it.

Biedrins and Okafor are trash...why would Nellie OK that kinda contract for a guy who played sporadially at times in what was a run and gun offense?

_________________
Ба́бушка гада́ла, да на́двое сказа́ла—то ли до́ждик, то ли снег, то ли бу́дет, то ли нет.