Source: New deal for Derrick Rose

Updated: December 21, 2011, 11:26 AM ET

CHICAGO -- Chicago Bulls guard Derrick Rose has agreed to a five-year contract extension, a source told ESPN The Magazine's Chris Broussard on Tuesday.

The contract is worth $94.8 million, a source told ESPN The Magazine's Ric Bucher.

The Bulls announced Tuesday night that they are set to make a "major announcement" at a press conference featuring Rose, vice president of basketball operations John Paxson, general manager Gar Forman, and coach Tom Thibodeau at 11 a.m. ET ...

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