The Chicago Bulls still haven’t finalized a long-term deal with restricted free agent Josh Giddey this offseason, though their new offer may signal progress as training camp nears.
Giddey began the summer seeking an annual salary in the $30 million range, though Chicago reportedly offered a four-year, $80 million contract. With few teams able to meet the 6-foot-8 point guard’s asking price, the Bulls initially held most of the leverage. Still, with a deal not yet in place and the season fast approaching, the franchise appears increasingly eager to lock him in long term.
Cam Thomas recently accepted his qualifying offer of $6 million with the Brooklyn Nets, and Giddey could follow suit by accepting his $11.1 million qualifying offer. The possibility he could take this path gives the 22-year-old added leverage, as the Bulls could risk losing him for nothing if he ultimately accepts the qualifying offer. Additionally, he would hold a no-trade clause ahead of unrestricted free agency next offseason.
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Bulls raise stakes in negotiations with Josh Giddey
Brett Siegel of ClutchPoints recently outlined the state of the restricted free agent market following Thomas’ decision, revealing that the Bulls have increased their offer to Giddey.
“Although they held firm on their offer of around $20 million per season, the Bulls have recently increased their proposed contract to try and end this stalemate,” he wrote. “Chicago has presented Giddey and his representation with a four-year contract in the ballpark of $85 million to $90 million, league sources said.”
After being acquired from the Oklahoma City Thunder in June 2024, the Australian point guard showcased his solid all-around talent in his first season with the Bulls. Over 70 regular-season appearances, he averaged 14.6 points, 8.1 rebounds, 7.2 assists and 1.2 steals while shooting a career-high 37.8 percent from three-point range across 30.2 minutes per game.
Giddey also saw a significant boost in production following the All-Star break, averaging 21.2 points, 10.7 rebounds, 9.3 assists and 1.5 steals in 34.3 minutes per game over his final 19 regular-season outings. During that stretch, he shot 50.0 percent from the field and 45.7 percent from downtown.
Giddey appears to be a featured player in Chicago’s long-term plans, and letting him enter unrestricted free agency could prove costly. On the bright side, the Bulls’ increased offer suggests they are committed to finding common ground.
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