Josh Giddey wants $30 million per year on his next deal, but the Chicago Bulls aren't willing to offer that. They have the cap space to do so, but it's the beginning of August, and there hasn't been traction on a deal between the two sides. There is a gap in negotiations.
Giddey bet on himself last offseason by pushing to leave the Thunder for a starting role with a different team. Sam Presti granted his wish, sending him to the Bulls for Alex Caruso. Giddey watched from afar as Oklahoma City won the 2025 championship, but it's not like it was with regret after what he accomplished during his first season in Chicago.
He went out on a high note, averaging 21.1 points, 10.4 rebounds, and 9.3 assists per game in the Bulls' final 19 games of the season, shooting 48.7% from the field and 42.7% from three. Giddey benefited from the Zach LaVine trade, making the most of his increased usage. The numbers prove it.
So, why is Giddey still waiting for a new deal?
He isn't the only one; Jonathan Kuminga, Quentin Grimes, and Cam Thomas are doing the same with their respective teams. Restricted free agency is moving at a glacial pace. The reality for the Bulls is that if they wanted to pay Giddey the kind of money he wants, it would've happened by now.
Bulls don't view Josh Giddey as a $30 million per year player
The reason for Chicago's reluctance to possibly offer Giddey a four-year deal may be due to two factors: the collective bargaining agreement and its past mistakes.
Teams are more hesitant to commit to players long-term, but what Giddey has going in his favor is that he's only 22 years old. He'll turn 23 in October. The Bulls don't have to worry about the end of a four-year deal coinciding with Giddey's early-to-mid 30s. He's not yet in his prime, and given the state of the East, he could be an All-Star next season.
Chicago gave Patrick Williams a five-year, $90 million extension last offseason, quite the overpay. Three years ago, the Bulls signed LaVine to a five-year, $215 million maximum extension. We don't need to revisit how that played out.
They shouldn't hold their past mistakes against Giddey, who Chicago should re-sign. It's not that the Bulls don't want him, but rather that they don't want to pay him $30 million per year. Maybe the two sides will meet in the middle with an average of $25 million.