Noah and Bulls agree on five-year extension

CHICAGO (Reuters) - Joakim Noah has agreed on a five-year contract extension with the Chicago Bulls, the team said on its website on Monday.

The deal is worth $60 million, according to the Chicago Tribune, and will go into effect after the season.

"It feels great," Noah told the team's website (nba.com/bulls).

"It's very exciting -- they have a lot of trust in me. I know that with all this money comes responsibility and I'm going to stay hungry and give 110 percent."

A post player known for his hustle and intensity, Noah broke through last year in his third season when he averaged 10.7 points and 11 rebounds.

He was recently rumored to be a part of trade discussions that could have brought disgruntled All-Star Carmelo Anthony to Chicago, but the Bulls have designated Noah a valuable piece of their future.

(Editing by Ian Ransom)