Jul 30, 2008 - 3:52 PM
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Terms were not disclosed, but ESPN.com reported that Deng and the Bulls have verbally agreed on a six-year deal worth a guaranteed $71 million, citing NBA front-office sources.
The Bulls have a news conference scheduled for Thursday at 10:00 a.m. CDT to officially announce the signing.
Deng, who is scheduled to join Great Britain's national team at the end of the week, had said he would not negotiate with the Bulls further without a deal in place by Friday.
The 23-year-old forward turned down a five-year deal worth $57.5 million in October and had considered playing next season under a qualifying offer of $4.5 million in order to test free agency after the 2008-09 campaign.
However, both sides managed to come to terms after Bulls chairman Jerry Reinsdorf took over the bulk of negotiations with Deng earlier this month. General manager John Paxson usually serves as the lead negotiator in contract discussions.
Deng averaged 17 points and 6.3 rebounds last season despite playing with a sore left Achilles tendon, which limited him to just 63 games. The numbers were slightly below his breakout season from 2006-07 when he averaged 18.8 points and 7.1 rebounds while playing in all 82 games.
