- DeMar DeRozan, despite being 34 years old, delivered an impressive performance last season, averaging 24.5 points, 4.6 rebounds, and 5.1 assists for the Chicago Bulls.
- The 2023-2024 season marks the final year of DeRozan’s current contract, a three-year, $81.9 million deal he signed in 2021 through a sign-and-trade with the San Antonio Spurs.
- There’s potential for the Bulls to offer DeRozan a contract extension, which could prove mutually beneficial, considering his age.
The Possibility of a DeRozan Contract Extension
As DeRozan enters the last year of his current contract, there’s speculation about a possible extension. While he’s turning 35 soon, the Bulls could offer him a reasonable extension, given his contributions.
— Forbes SportsMoney (@ForbesSports) September 27, 2023
Salary Cap Projection
Estimated Cap Increase
The NBA’s salary cap is projected to increase by at least 4.4% next year, with a possible 10% increase if a new TV deal is negotiated within the current season.
A Fair Extension
Negotiating an Extension
Considering the potential cap increase, a fair extension for DeRozan could be around 20% of the cap, which translates to a starting salary of $29.9 million, exceeding his current earnings.
While DeRozan may not maintain his current level of performance in his late 30s, a long-term offer of 17.5% of the 2024 cap, equivalent to $26.2 million annually, could be a reasonable compromise for both parties.
anyway here’s DeMar DeRozan making some shots pic.twitter.com/4rk1DCCaPN
— Ross Pins (@chisportsross) September 24, 2023
Benefits for Both Sides
Such an extension would provide DeRozan with substantial earnings while allowing the Bulls to decrease his cap percentage in the future. This financial flexibility could be crucial for Chicago as they navigate the rising salaries of other key players.
In conclusion, offering DeRozan a thoughtful contract extension could prove to be a strategic move that benefits both the player and the Bulls in the long term, providing financial stability for DeRozan and greater flexibility for Chicago.