Bulls Re-Sign Deng

Restricted free agent forward Luol Deng and the Chicago Bulls have agreed to six-year contract that could be worth as much as $80 million.

The Bulls e-mailed a news release Wednesday afternoon announcing the ``contract signing of Luol Deng.'' No details on the deal were released.

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Even though re-signing Deng was huge to the Bulls’ success next season, oddsmakers clearly don’t like Chicago’s chances in 2009. Oddsmakers from online sports book SBG Global have made the Chicago Bulls a 35/1 long shot to win the 2009 NBA Finals.

Oddsmakers think the defending champion Boston Celtics are the favorites to repeat in the East, meaning the Bulls have plenty to overcome next season. Deng will certainly help, but new head coach Vinny Del Negro is going to need more pieces to get the Bulls to the 2009 NBA Finals.

Deng averaged 17 points and 6.3 rebounds last season, while shooting 47.9 percent. That marked a drop from 2006-07, when he scored 18 points a game with 7.1 rebounds, while making 51.7 percent of his shots. Deng had rejected a five-year contract extension last October that was worth $57.5 million.

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