The Daily Herald reports
The Bulls have agreed to terms on a contract extension with Joakim Noah, a team source confirmed. The deal is expected to be in the neighborhood of $60 million over five years.
Good deal for both sides.
Perhaps more importantly though, this is a firm sign pointing towards Bulls owner Jerry Reinsdorf’s willingness to pay the luxury tax at long last which is where they’ll be, luxury tax land, once Derrick Rose finishes his rookie scale contract and gets his big pay rise. A foursome of Rose, Boozer, Deng and Noah plus a supporting cast will put Chicago well above the tax threshold.
I believe this will be the first time that Reinsdorf has paid the tax. In the past, he has always said that he would be willing to do so if he felt his team had a shot at another Championship. Good to see him backing up those words with actions.