Front-office sources told ESPN.com that Luol Deng and the Bulls are on the verge of completing a six-year, $70 million deal.

The Bulls slowly but surely increased their offer to a higher annual average that Deng turned down in October, when Chicago was limited to offering him a five-year extension and presented Deng with a five-year package worth $57.5 million.

Chairman Jerry Reinsdorf intervened and personally handled the majority of the negotiations with Deng's camp as opposed to the standard practice of Bulls general manager John Paxson serving as lead negotiator.