The offer is in.
Reportedly, the Chicago Bulls have made a contract offer to restricted free agent Josh Giddey.
The offer, according to NBA insider Jake Fischer, is for four years and $80 million.
On the one hand, it’s $80 million.
On the other hand, it’s not close to what Giddey has reportedly wanted for a while. The suggestion has been that he’s seeking more like $30 million per year, not the $20 million AAV presented here.
It’s pretty much the same conundrum Warriors forward Jonathan Kuminga is in as another RFA.
For restricted free agents to have much market power, they need other teams to make them offer sheets that their prior team has the choice of matching.
But with only the Brooklyn Nets featuring ample cap space, that isn’t happening. Nobody has the money to try to shell out a boatload on Giddey or Kuminga.
It leaves these RFAs with very little power. It’s the same situation for Quentin Grimes in Philadelphia and Cam Thomas in Brooklyn.
Giddey, if he was an unrestricted free agent, probably would be closer to a $30 million player.
But in this system, a team isn’t going to make him an offer sheet, clear out all the space for it to fit, and then watch the Bulls match the offer and never let them get the player anyway.
It’s a lot easier for teams to pursue unrestricted free agents, and that’s what has happened this offseason.
Giddey seems likely to return to Chicago, but at this point, it’s not obvious he’ll be all that happy about it. There just aren’t many other options unless a surprise trade surfaces late in the game.
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