There aren’t many things that age gracefully. Wine. Denim. Leather boots. Cast-iron skillets. A few cheeses, maybe. And now, something new to the list: Josh Giddey’s contract extension.
A little over a week ago, Chicago signed Giddey to a four-year, $100 million deal. It averages $25 million annually, but in all likelihood, he’ll earn closer to $22 million next season, with the contract set to rise in value year over year.
According to Spotrac, Giddey is projected to earn $22.3 million at 23, $24.1 million at 24, $25.9 million at 25, and $27.7 million at 26 before hitting unrestricted free agency in 2029. That’s undeniably a massive payday, but even then, he’ll take up less than 15 percent of the salary cap—a solid value for a starting point guard.
Josh Giddey's contract is as team-friendly as it gets
The Athletic’s John Hollinger called Giddey’s extension one of the five most underrated moves of the offseason. He praised Chicago’s approach to restricted free agency and endorsed locking in the young floor general through his age-26 season.
Hollinger noted that, in reality, $25 million isn't an excessive amount. The journalist later pointed out an almost unbelievable tidbit of information, "Giddey’s deal would make him the sixth-highest paid player on the 2026-27 Cleveland Cavaliers or the fifth-highest paid on this year’s Miami Heat, Toronto Raptors, New York Knicks or Minnesota Timberwolves." That goes to show the immense value at which the Bulls retained the 22-year-old.
To close, Hollinger offered a critique—not of the contract itself, but of Chicago’s future roster-building with Giddey in the mix. As he wrote, "… the fact that Giddey’s peculiar weaknesses do somewhat constrain team-building options if Chicago aspires to someday finish above ninth place. You need rim protectors who can cover for him and a role in which he’s mainly on the ball."
Hollinger’s critique holds weight. At 6-foot-8, Giddey is effortlessly versatile, but as a tall point guard he often lacks a natural defensive matchup. That reality will push Chicago to pair him with a strong perimeter stopper whenever he’s on the floor.
Furthermore, as Hollinger noted, Giddey’s defense, or lack thereof, underscores the need for a rim protector. He isn’t the hopeless defender some make him out to be, but when paired with Coby White, his weaknesses become more pronounced. And a backline featuring Nikola Vucevic doesn't make things easier.
Nonetheless, the Bulls’ roster is far from complete, negating any immediate pressure to solidify the team around Giddey next season. Matas Buzelis and rookie Noa Essengue are promising pieces, but Chicago isn’t anywhere near being a contender. With Giddey under contract for four more seasons, the Bulls will have ample time to assemble a complete roster.