NBA Rumors: DeMar DeRozan, Bulls Have 'Preliminary Talks' About Contract Extension

The Chicago Bulls and DeMar DeRozan have held "preliminary talks" regarding a contract extension, according to ESPN's Jamal Collier.

DeRozan is entering the final year of his contract and due to become an unrestricted free agent in 2024.

The six-time All-Star told Sportskeeda's Mark Medina in September there was mutual interest in re-signing with Chicago.

"That's a place I want to be and end my career," he said. "I want to be able to accomplish everything I've set out to accomplish. That's all I can worry about and control. I have the utmost confidence in myself. I'll let my agent and the organization deal with that side of things, to be honest man."

Both sides will have some strong considerations should negotiations progress.

The Bulls aren't ready to blow it up after a bitterly disappointing 2022-23 season. They won six fewer games and failed to advance out of the play-in tournament, an outcome for some that symbolized the bleak short-term future for the franchise.

Chicago simply hasn't been the same since Lonzo Ball was lost to a knee injury midway through his first year with the team. His perimeter defending and playmaking have been sorely missed.

Still, that's not stopping the front office from forging ahead with the current core.

But there's a difference between signing Nikola Vučević to a three-year, $60 million deal and handing DeRozan a max extension or something approaching that figure. He's eligible to earn up to $179 million over four years.

Especially when working under a collective bargaining agreement that's even more punitive to teams operating over the salary cap, the Bulls will be hemming themselves if they're paying DeRozan, Vučević and Zach LaVine $100 million plus collectively.

For DeRozan, meanwhile, the dilemma might come down to choosing between money and on-court success. As much as he might believe in the Bulls' direction right now, another losing season and missing out on the playoffs could change his mind.

Should he let his current contract expire and hit free agency next summer, accepting a shorter deal with a title contender may look like a better overall venture.

DeRozan's track record in the playoffs precedes him, but he'd undoubtedly have a ton of interest on the open market, especially if he was prepared to accept a more team-friendly agreement.