The details of Josh Giddey’s four-year, $100 million contract are in. Per Keith Smith of Spotrac, Giddey will earn a flat $25 million annually, rather than the expected ascending structure that would have started at $23 million next season and climbed to just over $27 million by 2028-29.
While a descending deal would have been the most cost-efficient, a flat structure still provides more long-term savings than the typical ascending model usually reserved for players of Giddey’s profile. In fact, the other four players to ink rookie-scale extensions—Paolo Banchero, Chet Holmgren, Jabari Smith Jr., and Jalen Williams—all received ascending contracts
Josh Giddey's contract offers Chicago future financial flexibility
Unlike Giddey, however, the four aforementioned players still had a year remaining on their rookie deals. The restricted free agent group—Quentin Grimes, Jonathan Kuminga, and Cam Thomas—doesn’t offer much of a comparison either, with Grimes and Kuminga still unsigned and Thomas opting for the one-year qualifying offer.
Looking at veteran extensions, a group of 10 players, half of them All-Stars, all but one (29-year-old Jakob Poeltl) signed ascending deals. Even Poeltl’s contract, however, rises from 2027-28 to 2028-29 before descending in 2029-30.
Giddey’s contract is an anomaly. At just 22, he was never going to re-sign on a descending deal, but a flat structure represents the best-case scenario for the Bulls. With Chicago projected to be $18 million below the first apron next season, whether they pay him $20 million or $30 million in Year 1 makes little difference.
It’s a subtle victory that Chicago will pay a 26-year-old Giddey just $25 million in 2028-29, less than 14 percent of the projected cap. By comparison, a 26-year-old Darius Garland will take up nearly 26 percent of the Cleveland Cavaliers' salary cap space this season.
Not to suggest Giddey is better than Garland, he’s not, but his trajectory is comparable. The Australian floor general is still developing, and last season he made significant strides as a shooter and overall scorer.
With an eye on future cap flexibility, Chicago wisely re-signed 22-year-old Giddey to a flat $25 million deal over four years. That structure leaves the Bulls ample room to pursue impact players in the seasons ahead. Perhaps equally as important, Chicago will be granted more wiggle room to potentially re-sign soon-to-be free agent Coby White to a similar contract.
Overall, the details of Giddey’s contract don’t drastically alter the Bulls’ future finances, but the flat structure saves money over time, a subtle victory for a team that has often overpaid players in recent seasons.