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Chicago Bulls forward Andres Nocioni has agreed to a five-year contract worth about $38 million, the Chicago Tribune reported Friday.

The deal can't become official until the NBA's moratorium on free agent signings ends July 11. But Bulls general manager John Paxson confirmed the deal is in place, the Tribune reported.

According to sources, the contract includes a team option for a sixth season, the newspaper reported.

My Quick Take: The Bulls will benefit from this move for many years. They've re-signed Nocioni, an important piece, without overpaying him.

Nocioni is a poor man's Manu Ginobili. He's a pest, annoying opponents with his physical style. The Argentine is also versatile-he can play three positions and has no problem starting or coming off the bench. Such versatility is a luxury in today's NBA.

The Bulls paid a fair price for Nocioni. They didn't overspend and have enough cap room to re-sign Luol Deng and Ben Gordon. This is important. Good teams, like Detroit and San Antonio, maintain financial flexibility by locking up key players at a price that makes sense. John Paxson, Chicago's GM, is smart to follow the Piston and Spur model.

Nocioni's fair-value contract also preserves all of the Bulls' options. The club can still include him in a package for Kevin Garnett or Pau Gasol.

With these smart transactions, Chicago is positioning themselves for something big.

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