"The Chicago Bulls' "top priority" during Wednesday morning's initial contact period between teams and agents will be to set up the framework of Derrick Rose's contract extension, according to a league source.

Rose, whose rookie contract is up after this season, became the youngest MVP in NBA history last season while leading the Bulls to a regular-season-best 62 wins. He is expected to receive a max extension when the time comes, although no formal offers can be made or signed until Dec. 9, according to an NBA memo issued to all teams Tuesday night.

No matter when he officially signs, Rose is due for a mammoth raise from his rookie contract, based upon a new wrinkle to the collective bargaining agreement, which is expected to be ratified at some point in the next few days."