Bulls set to announce Rose contract extension

This is one of those no-brainer, never-a-question moves, but the Bulls plan to formally announce a contract extension for Derrick Rose today, sources confirmed.

The exact numbers aren’t clear, but Rose will get a five-year deal worth around $94 million to $100 million. The new salary will kick in next season.

“I never was never really thinking about it,” Rose said after Tuesday’s preseason victory. “I don’t think about money when it comes to that, re-signing contracts or anything. The Bulls stayed loyal with me, showed trust in me by picking me (in the draft) to come here. I just feel blessed and I’m happy that I’m here.”

Rose actually got a raise even before this extension. The league’s new collective bargaining agreement included a provision allowing certain younger players to earn a maximum salary equal to 30 percent of the salary cap, as opposed to 25 percent for most players with less than seven years experience.

To get the higher salary, players need to make the all-NBA team twice, be voted an all-star starter twice or be named MVP by the end of their rookie contract. That’s why it was dubbed the “Derrick Rose Rule,” although Oklahoma City’s Kevin Durant was technically the first player to take advantage. Durant signed the extension last year, but the new salary began this season, making him eligible for the 30 percent rule.

Rose, who grew up in Chicago’s Englewood neighborhood, became the youngest player in league history to win MVP last season.

The Rip rating:Going back to last year#146;s first-round playoff series, Indiana has played seven games in a row against the Bulls. So that makes Pacers coach Frank Vogel qualified to comment on the addition of veteran guard Richard Hamilton.#147;Having to chase Rip off screens and (Kyle) Korver off screens the whole game will take pressure off (Derrick) Rose to do it all, all the time,#148; Vogel said. #147;I like the comparisons with Chauncey (Billups) and Rip, and what Derrick and Rip are going to have.#148;Time for prime teams:The most popular question of the preseason is what kind of effect will the compressed 66-game schedule have on various NBA teams. Pacers coach Frank Vogel shared his thoughts on Tuesday.#147;I really think with the condensed schedule, the really young teams are going to struggle and the really old teams are going to struggle,#148; Vogel said. #147;The teams that are sort of entering their prime or are in their prime, like we are, like Chicago is, I think those are the teams that are going to do the best this year.#148;Bull horns:Bulls players will greet fans at Northbrook Court on Wednesday from 1-2 p.m. #133; Ex-Hornets power forward David West, who signed with Indiana as a free agent, scored 8 points in his Pacers debut.