Bulls Sign 1st-Round Pick Bobby Portis

(CBS) The Bulls have signed first-round draft pick Bobby Portis to a rookie scale contract.

The baseline pay in the first year for No. 22 picks like Portis is just shy of $1.16 million for 2015-'16, though rookies can sign for anywhere from 80 percent to 120 percent of that amount. The Bulls didn't announce the terms of the deal.

Organizations control the contract status of first-rounders for four years, with two years up front and then team options for the third and fourth seasons. Such players can then accept a one-year qualifying offer or enter restricted free agency after that, if they haven't already reached an extension.

The 6-foot-11, 242-pound Portis averaged 17.5 points and 8.9 rebounds as a sophomore at Arkansas and was named the SEC Player of the Year. He's one of 12 players on the Bulls' Summer League roster. Chicago opens play Saturday in Las Vegas.