Noah has popped up in trade rumors but he won't be moved. The real drama
unfolding is the Bulls trying to ink an extension with Noah's camp.
I can certainly understand why Joakim Noah wants a bigger offer from the Bulls. I have absolutely no problem with him saying no to a 5/57 deal. After the Bulls made him off limits for Melo, and the fans, by and large, agree that they don't want to include Noah for Melo, it's hard to then say "you're only worth 10 million a year".
That being said, this is an early extension. Noah has played at a level deserving of 8 figures for about 3/4ths of one season in his career, and was injured the rest of that time. I see no issue at all with only offering around 11.5 million a season, and I think that's probably a bit more generous than I would open up with.
Historically, the Bulls have had a "no negotiation" stance on early contract offers. They've made them to BG, Deng, and Hinrich at the very least, once those offers were made they did not budge from them and left it up to the player to accept or reject that offer.
Is the same thing going to happen with Noah? I expect that it will. I don't see any incentive for the Bulls to improve their offer. Is it hard to imagine Noah having an injury this year? Is it hard to imagine his numbers decreasing with Boozer in the fold? I think Noah's stats are going to go down this year even without injury.
Plus, with the uncertainty of a new CBA, it's highly likely that the terms of the negotiation will significantly favor Bulls management next summer. The Bulls 5/57 could be a max offer next summer, and other teams may only be able to extend players for up to four seasons significantly lowering his ability to go elsewhere.
I think Noah has very little upside to not take this deal now, and he has considerable downside to passing on it. If I was Joakim Noah, I would take this deal. He'll fight and argue for more, but the Bulls have cemented their reputation on how they deal with early extensions, and I doubt they're going to change it up at this point.