Luol Deng re-signs with Chicago for 6 years/$71 million.

[Now_Im_Not_Banned]

Deng deal is done
6-year contract worth up to $80M; Gordon, Bulls remain far apart

BY BRIAN HANLEY bhanley@suntimes.com
July 30, 2008

The Bulls and forward Luol Deng are finalized a six-year, $71 million contract today, with a formal signing likely Thursday. Bulls general manager John Paxson confirmed the deal is done on the "Waddle and Silvy Show" on WMVP-AM (1000).

A source familiar with the negotiations said talks accelerated when Deng's agent, Jason Levien, flew to town Tuesday to meet with Bulls chairman Jerry Reinsdorf and Paxson. The sides worked until about 8 p.m. and are expected back at the Berto Center today to go over details.

The new deal for Deng, a restricted free agent, includes incentives that could increase the total value to $80 million. That tops the five-year, $50 million deal Deng said he turned down at the start of last season.

Deng had set Monday as a deadline to get a deal done because he is scheduled to leave for the European Championships, where he will play for the British team.

The Bulls remain far apart in negotiations with guard Ben Gordon, also a restricted free agent. Gordon's agent, Raymond Brothers, has told the Bulls that Gordon should be the highest-paid player on the team because he has led the team in scoring each of the last three seasons. Gordon averaged 18.6 points last season, down from a career-high 21.4 in 2006-07.

Deng's scoring also declined from 18.8 points per game to 17 in an injury-shortened 63-game season.

Brothers' stand would translate into Gordon topping the $13 million per season left on the remaining two years of Larry Hughes' contract. Brothers had tried to get Gordon more than the $15 million Ben Wallace was averaging before the Bulls traded the veteran center to Cleveland in February.

The Bulls aren't expected to guarantee up to $80 million over a maximum six years for Gordon, so if negotiations continue to stall, the sides might pursue a sign-and-trade deal. Gordon would have to approve such a move. Gordon also has strongly considered signing the team's qualifying offer of $6.4 million for next season, after which he would be an unrestricted free agent.

The Bulls do not want to exceed the NBA's luxury-tax threshold of $71.15 million, above which they would have to pay a dollar-for-dollar penalty. A contract paying Gordon more than $13 million per season would have the Bulls committed to about $66.5 million in payroll, including Gordon's qualifying offer.

''At some point in time, you have to be the aggressor,'' Gordon said Monday. ''It's kind of like we've been negotiating since last summer. I don't think there's any reason why it should be dragged out this long.''


Nice move for the Bulls...they're still a low seeded playoff seed at best, though.

['EclipZe]

there goes the chance of panathinaikos of getting him

[Now_Im_Not_Banned]

there goes the chance of panathinaikos of getting him

As if they really had a legit chance...LOL.