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NBA Rumors 2011: Bulls Nearing Extension With Derrick Rose

It appears as if there will be no LeBron James/Carmelo Anthony/Chris Paul/Dwight Howard situation in Chicago anytime soon. The Chicago Tribune reported today that the Chicago Bulls and Derrick Rose are a mere "formality" away from agreeing to an extension that would pay Rose $94 million dollars over the span of five years.

As a provision of the new CBA, Rose is eligible to be paid upwards of $90 million thanks to him winning the MVP award last season. The extension will come as no surprise to many, considering that Rose is a Chicago native who played his high school ball at Simeon Career Academy in the South Side of the city.

For updates on free agent moves, stay tuned to SB Nation Chicago. For in-depth coverage of the Bulls, visit Blog a Bull. For up-to-the-minute coverage of all of the key personnel moves, check out the SB Nation NBA free agency StorySteam.