Midday Stampede: Bulls Finally Sign Teague
Marquis Teague was the only unsigned first-round pick of the 2012 NBA Draft
Chicago Bulls rookie Marquis Teague is no longer the only unsigned first round draft pick as he and the organization have come to an agreement on his rookie contract.
Tuesday, Aug 7, 2012 Updated at 2:49 PM CDT
Marquis Teague is finally coming to Chicago.
The point guard out of the University of Kentucky who was taken 29th overall by the Bulls in the NBA Draft this June signed his rookie contract on Thursday, according to the Chicago Tribune.
The delay in signing was based on the amount Teague would make on his initial NBA contract.
Typically rookies receive 120 percent of the value of their contract based on where they were drafted. Teague received 100 percent of his first-year rookie salary, which is valued at $857,000 as opposed to the $1,028,400 he would’ve received had the Bulls given him the full 120 percent. He'll receive the latter over the remaining years of his deal.
The signings of Kirk Hinrich and Marco Belinelli made it a necessity for the Bulls to negotiate with Teague at 100 percent of his first-year salary.
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