Alex Kennedy of HOOPSWORLD says that the Bulls offered Noah more than $11 million per year, and he isn’t happy with the offer.

The contract extension the Chicago Bulls offered Joakim Noah several weeks ago was actually a five-year, $57 million deal. Noah isn’t happy.

Wow, I think that’s more than fair for a offensively-challenged center who averaged 10.7 points and 11.0 rebounds per game last season. Sure, he’s great defensively and brings a lot of energy, but that’s why the Bulls’ offer is fair. When you start getting into the $12-$14 M per season range, you have to be a complete player. And as good as Noah is, he isn’t a guy that the Bulls can feed in the post and expect him to score.

Two summers ago, Andrew Bogut signed a five-year deal worth $60 million coming off of a season where he averaged 14/10. This season, he was named to the All-NBA 3rd Team after turning into one of the league’s best defensive centers and one of its few go-to post players. Would you rather have Bogut at $12 million per season or Noah at $11.4 million? Bulls fans might say Noah, but after the season Bogut just turned in, I think most people around the NBA would rather have Bogut (16/10, 2.5 blocks in 2009-10.)

With a new collective bargaining agreement looming, Noah should lock in his extension now. There’s just too much risk involved with all the uncertainty of next summer.