Chicago Bulls Have Reportedly Offered 2-Year, $80 Million Contract to DeMar DeRozan

DeMar DeRozan during his time with Raptors in 2018
DeMar DeRozan during his time with Raptors in 2018. Photo by Canadian Press/REX/Shutterstock (9315656b)

The Chicago Bulls are already turning focus on the next season after an early end of their 2023-24 campaign. According to K.C. Johnson of NBC Sports Chicago, the franchise has offered a new contract to their All-Star forward, DeMar DeRozan.

DeRozan, who is set to become a free agent in the summer, was reportedly offered a new two-year, $80 million deal. The $40 million annually would represent a big raise for DeRozan, who earned $27.3 million in 2023-24.

It is unclear whether DeRozan would be interested in re-signing with the Bulls before he has the opportunity to test the free-agent market. Johnson adds that the player would prefer a long-term offer at the moment.

If DeRozan hits the free agency market, he is expected to have more than a few suitors, considering he just finished another productive campaign. He averaged 24.0 points to go with 4.3 rebounds and 5.3 assists per game.

Retaining DeRozan is a priority for the Bulls this offseason. The veteran has been their best player since signing as a free agent in 2021, and losing him would significantly hurt their chances of being competitive in 2024-25.

Before joining the Bulls, DeMar DeRozan also played with the Toronto Raptors and San Antonio Spurs. He is a six-time All-Star and has two All-NBA Second Team selections to his name.