Brooklyn Nets restricted free agent Cam Thomas has officially signed his one-year, $6 million qualifying offer, keeping him with the team for the 2025-26 season. The decision comes after Thomas and the Nets were unable to agree on a long-term deal that would have tied him to Brooklyn for the foreseeable future.
If you're a Bulls fan, this deal suddenly makes Josh Giddey's situation in Chicago much more intriguing, and significantly more urgent.
By accepting the qualifying offer, Thomas is betting on himself in a way few other young players have. The move extends his tenure with the team that drafted him 27th overall in the 2021 NBA Draft by one season, adds a no-trade clause, and allows him to enter unrestricted free agency in the 2026 offseason.
The 23-year-old guard, who averaged a career-high 24.0 points, 3.3 rebounds, and 3.8 assists last season, is still proving to the Nets that he can become a major building block in their rebuild.
The bigger question now becomes: What happens if a more valuable and well-rounded player like Giddey takes the same path?
What Cam Thomas' decision means for Josh Giddey and the Bulls
Chicago's 21-year-old guard is one of the three remaining restricted free agents yet to sign for the 2025-26 season. What he soon decides to do will reveal how much the Bulls believe in him as part of their long-term core.
Giddey is far more complete than Thomas. He’s not just a scorer. He’s an elite playmaker, has the size to seriously impact the glass as a point guard, and the potential to grow as a shooter as well as a reliable defender, already showing steady improvement since his time in Oklahoma City. He has the ability to impact the game in nearly every way.
If Giddey follows Thomas’ footsteps by accepting the Bulls’ qualifying offer, he would gain full control of his future next offseason. Instead of being limited by negotiations or a contract he’s not fully satisfied with, Giddey could play one season on an $11.1 million qualifying offer, then have the opportunity to freely choose what to do with his future.
Why the Bulls should be worried
Before Thomas made his move, it seemed as if the Bulls held a majority of the leverage in any contract discussions with Giddey. Now, his leverage has increased without even having to say a word to the front office.
The truth is, the Brooklyn Nets can survive losing Thomas for nothing next offseason. While he does put up impressive numbers as a pure scorer, his efficiency is pretty low, shooting just 43.8 percent from the field.
The Bulls, however, would be significantly more impacted if they lost Josh Giddey for nothing.
Giddey is one of the few young talents in recent memory capable of being a key piece for the next era of Chicago Bulls basketball. If he signs the qualifying offer, Chicago risks not only losing him for nothing next year but also losing leverage in trade talks, since he would hold a no-trade clause under the qualifying offer rules.
It’s a scenario that could put the Bulls in a difficult position, potentially watching yet another valuable piece walk away with no compensation. Chicago still has until Oct. 1 to convince Giddey that it's the best long-term fit for his future, but thanks to Cam Thomas accepting his qualifying offer, the pressure just turned up a whole lot.