Rose reported feeling pain in his right knee, which led to an exam and an MRI, which confirmed the tear. A surgery date and a recovery timeline have not yet been set.
The 2011 MVP previously underwent ACL surgery in his left knee in May 2012 and a medial meniscus repair in his right knee in Nov. 2013. The first surgery sidelined Rose for the rest of the 2012 playoffs and the entire 2012-13 season. The second surgery sidelined Rose for the final five months of the 2013-14 season and the entire 2014 playoffs.
After returning to the court with USA Basketball last summer, Rose had played in 46 games this season, averaging 18.4 points, 5 assists and 3.1 rebounds per game.
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Coach Tom Thibodeau will be forced to turn to backup point guards Aaron Brooks and Kirk Hinrich in Rose's absence.
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Rose, 26, is under contract through the 2016-17 season, earning $18.8 million this season and $20.1 million next season.
Chicago sits at the top of the Central Division standings with a 36-21 record, holding a one-game lead over Cleveland (35-22).