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Chicago Bulls Seek Contract Extension for MVP Derrick Rose

The “top priority” of the Chicago Bulls during the league’s shortened free-agency period is to work out an agreement for an extension to Derrick Rose’s contract, according to ESPN Chicago.

Rose, who was named the NBA’s youngest-ever Most Valuable Player last season, would become a free-agent following the expiration of his rookie contract. Sources have told ESPN that Rose will likely receive the maximum extension allowable; however no formal offers can be made until Dec. 9.

The 23-year-old helped lead the Bulls to an NBA-best 62 win season in 2010-11. In 81 games he averaged 25 points, 7.7 assists, and 4.1 rebounds per game in just his third year in the league.

As a result of Rose’s performance, as well as the rising trend of young players making a more immediate impact on teams, the NBA is expected to institute “The Derrick Rose Rule,” as part of its new collective bargaining agreement. The rule is designed to reward players, like Rose, to make as much as 30 percent of his team’s salary cap. The stipulations to the rule state that a player would receive such a bonus if they had been named the league MVP, made two All-NBA teams or had served as an All-Star starter two separate times while in their rookie contract.

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