DeMar DeRozan Eligible To Sign $130 Million Deal With Bulls Before Free Agency Starts

According to NBA reporter K.C. Johnson of NBC Sports Chicago, DeMar DeRozan is eligible to sign a three-year, $130 million extension with the Chicago Bulls before unrestricted free agency starts on July 1.

If the Bulls don’t sign DeRozan to an extension, the veteran will become an unrestricted free agent. 

“As for DeRozan, he knows he has outplayed his contract,” Johnson wrote. “He’s big on respect. And I was told recently that he will have a market this offseason, so the Bulls would probably be best served by not letting him hit free agency. I think the most likely outcome is a shorter-term deal at a significant annual figure—maybe two years at $70-74 million with a team option for a third year? Just guessing there. He’s eligible to sign a three-year, $130 million deal before unrestricted free agency begins on July 1.”

DeRozan signed a three-year, $85 million contract with the Bulls in August 2021 as part of a sign-and-trade deal with the San Antonio Spurs. The USC product is averaging 25.3 points, 4.7 rebounds, 5.1 assists, 1.0 steals and 0.5 blocks with Chicago.

A future Hall of Famer, DeRozan is averaging 23.2 points, 4.3 rebounds, 5.3 assists, 1.0 steals and 0.6 blocks this season for the Bulls while shooting 47.5% from the field, 33.7% from beyond the arc and 86.1% from the free-throw line. He’s making $28.6 million in the final year of his contract. 

DeRozan has career averages of 21.2 points, 4.4 rebounds, 4.1 assists, 1.0 steals and 0.3 blocks with the Toronto Raptors, Spurs and Bulls. He has made three All-NBA teams and six All-Star teams. 

The Los Angeles Lakers, Miami Heat and Philadelphia 76ers were interested in acquiring DeRozan this season, sources told Hoops Wire. However, the Bulls weren’t shopping DeRozan, who will draw suitors if he gets to unrestricted free agency this offseason.