The Houston Rockets have reached agreement on a three-year, $25.1 million offer sheet with Chicago Bulls free-agent center Omer Asik, league sources told Yahoo! Sports.

Asik will sign the offer sheet on July 11 and the Bulls will have three days to match or lose him to the Rockets.

This is a steep price for Chicago to pay for its backup center, and the Rockets knew it.

All three years on the contract are fully guaranteed, a source said.

The Rockets have tried to acquire Asik in a trade for over a year, but finally forced the Bulls to have to commit to more than $8 million annually to keep him. The contract is back-loaded, and Asik's salary in the third season of the deal would hit Chicago's books at $15 million.

Asik plays behind starter Joakim Noah. Despite limited offensive skills, Asik's defense, rebounding and toughness make him a favorite of Bulls coach Tom Thibodeau.

A native of Turkey, Asik just completed his second NBA season. He averaged 3.1 points and 5.3 rebounds in 14.7 minutes a game last season.

Other popular content on Yahoo! Sports:
• Marc J. Spears: Deron Williams headlines top 20 NBA free agents
• Adrian Wojnarowski: Magic entertaining trade offers for Dwight Howard
• Adrian Wojnarowski: Nets discussing possible trade with Hawks for Joe Johnson