Midday Stampede: Bulls Finally Sign Teague - NBC Chicago

Quick off the dribble on hard court news

Midday Stampede: Bulls Finally Sign Teague

Marquis Teague was the only unsigned first-round pick of the 2012 NBA Draft



    Midday Stampede: Bulls Finally Sign Teague
    Getty Images
    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.

    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. 
    • Bulls still a playoff threat in 2012-2013 (RealGM.com)
    • Luol Deng plans to compete for Great Britain in future Olympics (BoxscoreNews.com)
    • 10 bold predictions for the Bulls upcoming campaign (Bleacher Report)
    • Olympics a success for the Bulls and Deng (CSN Chicago)