Derrick Rose to become free agent as Knicks decline team option, Reunion with Bulls?

14-year veteran guard Derrick Rose will continue his offseason as a free-agent with the New York Knicks declining his $15.6 million team option for the 2023-24 season.

Rose signed the three-year $43 million contract in 2020 and landed in New York in the 2021 trade deadline transaction with Detroit. Rose had a major role in the Knicks first-round playoff series vs. the Atlanta Hawks amidst his teammates struggles. He put up 19.4 points and 5 assists in 35 minutes per game in a mostly starting role. The following year Rose was limited to 27 games with an ankle injury. Since then, his minutes have slimmed down and has been cut from Tom Thibodeau’s rotation.

With being a veteran in the league, Rose still remains a major contributor, key voice in the locker room and is beloved by the city of New York and NBA fans. With the signing of upcoming star Jalen Brunson and New York’s young core of guards, there isn’t any room left for Rose to suit up. He now has a chance to explore available roles in the right situation.

Rose who turns 35 in October, has suffered through several knee injuries as his usage and efficiency have taken an immense drop.

“I still got a lot left in the tank, so it’s about being patient,” Rose told Marc Spears in May. “I killed my ego long ago. It’s not about the ego thing anymore. It’s about enjoying where I am at right now because there are a lot of older guys and younger guys that wish they were in my position.”

Although New York has aspirations of bringing Rose back on a cheaper deal, there has been interest in a reunion with the Chicago Bulls. Whether Rose plays meaningful minutes or not, Chicago could use his veteran presence with Lonzo Ball on the sidelines. The Bulls have no plans of rebuilding and Rose would be an appreciable mentor to Ayo Dosunmu and Coby White.

“When I was in Chicago for the NBA Draft Combine, some executives were wondering how much gas he still has in the tank?” Michael Scotto said of Rose.

Rose spent the first half of his NBA career in Chicago, becoming a 3x All-star and the youngest MVP in history. As the Bulls are very close to the luxury tax line, the most likely scenario is bringing Rose in on a veteran minimum deal or a one-day if he decides to retire.