The Chicago Bulls reportedly offered DeMar DeRozan a two-year contract extension worth as much as $80 million.

K.C. Johnson of NBC Sports Chicago reported the Bulls are determined to re-sign DeRozan in free agency and already have an offer to his agent. "For now, DeRozan is seeking a longer-term deal," Johnson added.

It's clear DeRozan plans to at least explore his options rather than commit to the Bulls, who will likely be willing to offer him the highest average annual salary of any team.

The Bulls came over the top to sign DeRozan to a three-year, $81.9 million deal in 2021. Most experts ripped the deal at the time, calling it an overpay, but DeRozan proved his doubers wrong by being an All-Star in two of his three seasons in Chicago.

As he approaches his 35th birthday, DeRozan seems to desire winning more than money.

"I hate losing. I hate missing opportunities. It really hits after the season," DeRozan told reporters after the Bulls were eliminated from the NBA Play-In Tournament. "You look up, last seconds run off, and you don't have another game. Next time I play a game will be my 16th season. You realize the window closes for you personally. I'm not trying to play 25 years or nothing like that."

If DeRozan's biggest goal is to compete for championships, that is not likely to happen in Chicago. The Bulls have won just one playoff game in DeRozan's three years with the franchise. They have no rising superstars ready to take the next step and are in fact looking to trade All-Star guard Zach LaVine this summer, according to Johnson.

Chicago has all the hallmarks of a team that would be better off tearing things down and rebuilding rather than handing an aging guard $40 million a year. That said, the Bulls front office is willing to make the offer, it's worth DeRozan considering. No contender will be willing and able to make such an extravagant offer, so DeRozan will need to weigh whether he's willing to take a pay cut to chase a ring late in his career.