Chicago, IL

Derrick Rose is expected to direct the Bulls play for at least the next six years after it was reported that Chicago agreed to terms with its star point guard on a five-year contract extension.

The pact is worth about $94 million, and the extension will be formally announced at a news conference, according to the Chicago Tribune.com.

The deal which locks up the Bulls franchise player is set to start in the 2012-13 season. It can begin at roughly $16 million in the first year.

It will pay Rose, last year's MVP award winner and the youngest player to ever received the honor at the age of 22, around $10-11 million more than he could have been eligible under the previous CBA agreement.

The new rule within the new CBA, dubbed as the "Derrick Rose rule", allows young players who outplay their rookie contract to be financially rewarded.

In Rose's case, he far exceeded his rookie contract, but he also stood up among the young players and earned the respect of older players.

Rose, the No. 1 pick overall in the 2008 draft, averaged 25 points and 7.7 assists per game. He displayed incredible leadership and poise as he led the Bulls into the playoffs.

Last season, Rose guided the Bulls to the Eastern Conference finals, but Chicago succumbed to the Miami Heat in five games.

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