The Bulls are negotiating with restricted free agent Josh Giddey from a position of power and will likely re-sign their starting point guard at some point this offseason. But the longer Chicago holds off on handing Giddey a new deal, the more it risks alienating one of the future pillars of the franchise.
VP of Basketball Operations Arturas Karnisovas is doing the right thing by slow-playing negotiations and not recklessly overpaying the 22-year-old like he did with Patrick Williams last offseason. It appears Karnisovas has learned from that mistake after Williams took his five-year, $90 million offer—which came before other teams were even able to negotiate with the forward—and turned in another disappointing season.
It's unlikely that Giddey takes his new money, whatever it ends up being, and crashes and burns with it as Williams did. But there's a fine line the Bulls need to walk the next few weeks.
The Chicago Bulls need to re-sign Josh Giddey
Giddey and his reps asked for a five-year, $150 million contract before last season. The idea was to match what the Orlando Magic gave their young point guard, Jalen Suggs. Chicago balked at offering Giddey that kind of money, and rightly so.
However, the young guard then went out and had his best season as a pro, averaging 14.6 points, 8.1 rebounds (a career high), and 7.2 assists (also a career high). His assist-to-turnover ratio was better than 2 to 1.
One of Giddey's most glaring weaknesses during his time with the Oklahoma City Thunder was his shooting inefficiency. He went a long way toward alleviating those concerns with the Bulls, putting up shooting splits of 47/38/78 last year. He blew past his previous career best in 3-point shooting, 33.7 percent.
Over his last 19 games in 2024-25, Giddey nearly averaged a triple-double: 21.2 points, 10.7 rebounds and 9.3 assists, while shooting 46 percent from three. Nineteen games isn't a large sample size, but it's not a small one either.
The 6-foot-8 floor general is an ideal point guard for the team's new offensive system predicated on pace and finding open shooters. Giddey's a high-level rebounder for his position and a creative and willing passer. Add his improving 3-point stroke and emphasis on getting to the rim, and Head Coach Billy Donovan has "his guy."
Bulls are playing a dangerous game with Giddey
The two parties are "having good dialogue" per Joe Cowley of the Chicago Sun-Times.
Bulls and Josh Giddey are having good dialogue, per a source, but the Giddey camp is dug in on the Suggs contract - $30 million per. Let the posturing continue.
— Joe Cowley (@JCowleyHoops) July 4, 2025
The longer it takes for Giddey and the franchise to come to an agreement, though, the better chance that "good dialogue" turns sour.
Will a deal get done before the 2025-26 campaign tips off? Most likely.
The Bulls certainly don't want to lose their leverage and overpay Giddey. But given his importance to the franchise moving forward, it's also important not to ruin the relationship between one of the team's best players and the front office.