Derrick Rose agreed to a five-year, roughly $94 million contract extension and the Bulls plan to make the formality official by today, the Chicago Tribune reported.
The extension is for roughly $10 million to $11 million more than Rose would have been eligible for under the previous collective bargaining agreement. However, a new rule, which has been nicknamed the "Derrick Rose rule," rewards players who outperform their rookie scale contract. Rose, 23, qualifies for one of the three stipulations by virtue of becoming the youngest most valuable player in NBA history last season.
The extension will begin in the 2012-13 season and is eligible to start near $16 million.
Viewers tune in to see newest Clipper Paul
Chris Paul's debut with the Clippers was the most-watched preseason game in NBA TV history.
The Clippers' 114-95 victory over the Lakers on Monday night drew 509,000 viewers, a network spokesman said Tuesday. The previous record of 501,000 viewers came in another celebrated debut, when the Heat beat Detroit on Oct. 10, 2010, in its first game with LeBron James, Dwyane Wade and Chris Bosh.
Paul finished with 17 points, nine assists and seven rebounds Monday night.
Paul was traded from the Hornets last week, joining All-Star forward Blake Griffin as the foundation of one of the league's most exciting teams.
Grizzlies: Forward Darrell Arthur will miss the season after an MRI exam confirmed a torn right Achilles' tendon. The 6-foot-9, 235-pound Arthur was hurt in practice Sunday. He is scheduled for surgery within the next week but is expected to be ready for the start of next season.
Arthur, 23, averaged career highs with 9.1 points, 49.7 field-goal percentage, 0.79 blocks and 20.1 minutes last season.
Hawks: The team signed seven-year veteran Jannero Pargo. He most recently played for the Bulls in the 2009-10 season.