Jerry Krause, Builder Of Bulls Dynasty, Selected To Naismith Basketball Hall Of Fame

(CBS) The late Jerry Krause, the builder of the Bulls' dynasty, has been posthumously selected into the Naismith Memorial Basketball Hall of Fame, it was officially announced Saturday.

Krause, who passed away at the age of 77 on March 21, served 18 years with the Bulls organization and as general manager constructed the teams that won six NBA championships in eight years spanning 1991-'93 and 1996-'98.

"I know this would have meant the world to Jerry," Bulls chairman Jerry Reinsdorf said in a statement. "It only further validates his legacy and what we all knew about his body of work with the Bulls. I know it is bittersweet for Thelma and his family, as this means a great deal to them as well.  It's a shame that he won't be here to enjoy this honor, but I know his family is extremely happy."

Krause took over the Bulls in 1985 after serving as a scout in baseball and basketball, laying the foundation for a dynasty to come. The Bulls set an NBA record at the time with a 72-10 season in 1995-'96. Krause was responsible for drafting players like Scottie Pippen, Charles Oakley, Horace Grant and many more while also signing key free agents to create a championship-level core around Michael Jordan.

In 2003, Krause retired as general manager of the Bulls and went back into baseball scouting in 2005. He had served as a scout for the White Sox during the 1980s and returned to the organization in 2010 before joining the Diamondbacks a year later.

Krause joins a Hall of Fame class that includes Tracy McGrady, Bill Self, Rebecca Lobo, Muffet McGraw, Robert Hughes, Mannie Jackson, Tom Jernstedt, Zack Clayton, Niko Galis and George McGinnis.  The enshrinement will take play Sept. 7-9 at the Naismith Hall of Fame in Springfield, Massachusetts.

A Chicago native, Krause is survived by his wife, Thelma; two children, Stacy and David; and four grandchildren.