Bulls reach contract agreement with Noah, sources say

It wasn’t all bad news for the Bulls Sunday

While the team learned that free agent power forward Carlos Boozer would be lost with a fractured right hand, league sources confirmed the Bulls have come to an agreement with Joakim Noah on a contract extension.

Sources said the deal is for five years and is worth about $60 million. It would go into effect after this season.

An announcement is expected this week.

Noah would be just the second player from the rookie Class of 2007 along with Kevin Durant to agree to an extension.

It would be a relief for the Bulls to sign Noah, especially with the potential for a lockout looming after this season with new rules that could alter dealings regarding contracts.

While Noah isn’t the team’s best player, in many respects he’s the heart and soul of the team with his hustle, determination and leadership.

The two sides seemed stalled over a deal in recent weeks with unconfirmed reports saying the Bulls were offering five years and $55 million or $57 million and Noah was seeking five years and anywhere from $65 million.