Boozer, Bulls agree on contract

Carlos Boozer is headed to the Chicago Bulls.

A person familiar with the negotiations told The Associated Press that the two-time All-Star forward agreed to a deal Wednesday and is leaving the Utah Jazz after six seasons. The person, who spoke on the condition of anonymity because the contract doesn't become official until Thursday, did not reveal the terms.

Boozer becomes the latest chip to fall on a day when Dwyane Wade and Chris Bosh confirmed they will play in Miami next season.

The jewel of this star-studded free-agent class, LeBron James, is still out there. While everyone awaits his announcement Thursday night, the Bulls at least know they're not coming away empty-handed after landing Boozer.

With about $30 million in salary cap room, the Bulls were looking to make a big splash in free agency after back-to-back first-round playoff exits. Adding Boozer strengthens their standing in the Eastern Conference - and maybe makes them more attractive to James, his former teammate.

Boozer averaged 19.5 points and 11.2 rebounds last season. His arrival gives the Bulls a formidable pair in the frontcourt with Joakim Noah, not to mention a good pick-and-roll partner for All-Star point guard Derrick Rose.

Thunder extends Durant

NBA scoring leader Kevin Durant posted an update on his Twitter page, saying he has agreed to a five-year contract extension with the Oklahoma City Thunder. Durant can't sign the deal until Thursday and team spokesman Brian Facchini said he could not confirm the deal under NBA rules. "Exstension for 5 more years wit the thunder . . . God Is Great, me and my family came a long way...I love yall man forreal, this a blessing!" Durant tweeted.

Cap set at $58.04M

The NBA salary cap for next season has been set at $58.04 million, a higher number than projected. The cap goes into effect at 12:01 a.m. Thursday, ending the league's moratorium period and allowing free-agent contracts to be signed. The tax level for the 2010-11 season has been set at $70.307 million. Any team whose team salary exceeds that figure will pay a $1 tax for each $1 by which it exceeds $70.307 million. The cap is a slight increase from this season's $57.7 million. Teams were warned by commissioner David Stern in a memo last July that the economic crisis could send the cap spiraling to somewhere from $50.4 million to $53.6 million, some $10 million below what teams were once anticipating. - AP