We've advanced to the point in the offseason where Josh Giddey is the most notable unsigned free agent. While Quentin Grimes, Jonathan Kuminga, and Cam Thomas would like a word, it's Giddey's world, and we're living in it.
At least, that's how it feels, especially coming from Pippen Ain't Easy. Giddey is ultimately expected to return to the Windy City, but at what price? That we aren't too sure. The 22-year-old is widely reported to be seeking $30 million annually. But the Chicago Bulls are reportedly only willing to pony up $20 million per annum.
Therefore, a $10 million difference has led to an impasse between said parties. The Bulls want Giddey back, and vice versa, yet without any leverage whatsoever, Giddey is at a clear disadvantage in negotiations. The same goes for the restricted free agents mentioned in the beginning paragraph. Grimes, Kuminga, and Thomas are all nowhere close to re-signing.
Giddey re-signing for less than $30 million per season is a possibility
However, there seems to be far more optimism regarding Giddey's situation than the rest. For starters, one of Giddey's teammates and perhaps the most valuable Bull, Matas Buzelis, has already hinted at the Aussie's return to Chi-Town.
Moreover, NBA insider Jake Fischer has repeatedly stated he expects Giddey to re-sign before the end of the summer. The signs are there, and Bleacher Report has also aligned with the expectations that Giddey will be back in Chicago.
While predicting where and for how much each remaining free agent will sign, Bleacher Report's Dan Favale forecasted Giddey to re-sign with the Bulls for four years and $96 million. The NBA pundit said it best when projecting Giddey's future contract, shrewdly stating, "Meeting in the middle feels fait accompli."
Favale is indubitably correct. Contracts are an agreement between both parties. For both parties to agree, a middle ground must be established. The median between $20 and $30 million is obviously $25 million, not $24. Nonetheless, Favale asserts a player option would be just enough to tempt the floor general to put pen to paper.
If Giddey outplays his hypothetical $24 million per annum, he'd be given an out to explore a more lucrative pact in three years. Conversely, if he doesn't live up to the average annual value of the proposed $96 million deal, he'd opt in to receive close to what he was bargaining for four years prior. It's a win-win for Giddey and also the Bulls.
In the grand scheme of things, $24 million per season for a starting point guard isn't egregious. Favale's proposed pact would place Giddey 21st among the highest-paid point guards. Interestingly enough, Giddey would fall right below Miami Heat's Terry Rozier, who's set to earn $26.6 million in the final year of the, you guessed it, four-year, $96 million deal he signed with the Charlotte Hornets in 2022.
Four years and $96 million is a fair compromise—one that's refreshing to come across. It benefits both sides, and a player option is a cherry on top for a player who hasn't even turned 23. Giddey narrowly misses out on $100 million, but he still secures a lucrative, long-term deal and is awarded an opt-out when the salary cap hits an unprecedented figure.