The Chicago Bulls and restricted free agent Josh Giddey are still in a stalemate in contract-extension talks, despite the sides remaining active in discussions throughout the offseason.
Josh Giddey, Bulls Are Roughly $8-$10 Million Apart
Giddey has been rumored to sign an $11 million qualifying offer, making him an unrestricted free agent in the summer of 2026. But that’s just gossip, of course.
The 6-foot-8 wing reportedly wants to stay put in Chicago.
Giddey, who turns 23 in October, is seeking a five-year, $150 million deal similar to that of Orlando Magic guard Jalen Suggs. That would give the four-year veteran $30 million annually.
“He wants to get a deal done to stay in Chicago, and the Bulls want him as a foundation piece, especially after helping the Thunder to an NBA title by giving them guard Alex Caruso for Giddey last offseason,” wrote Joe Cowley of the Chicago Sun-Times.
“They are somewhere between $8 million to $10 million per year apart.”
ESPN’s Jamal Collier reported earlier this month that Giddey and Bulls officials had “positive” contract talks, and the expectations is the two sides will “eventually” come to an agreement.
NBA Executives Were Polled About Giddey’s Contract Situation
The Athletic recently polled 16 people who work in NBA front offices, asking what they would deem a “fair” contract for each member of the restricted quartet: Jonathan Kuminga, Quentin Grimes, Cam Thomas, and Giddey.
Per Fred Katz and Joel Lorenzi, fourteen of the 16 participants proposed an average annual salary between $20 million and $25 million. His mean average yearly value in the poll also came to $22.3 million a year.
One executive labeled him as an $18 million player.
“If you’re offering a four-year contract, you have to be correct,” said another executive. “But Giddey, you could offer a four-year deal. Giddey is the anomaly because he might be good enough to be a four-year player.”
The executive was one of four respondents who thought $100 million over four years was fair for Giddey.
According to Spotrac, Giddey signed a four-year, $27.21 million rookie-scale contract in August 2021. He earned $6.58 million in 2023-24 and $8.35 million this past season. Both salaries are club options.
Giddey To Enter His Fifth NBA Season In 2025-26
Giddey is set to enter his fifth NBA season in 2025-26. In 70 games (69 starts) last season, he averaged 14.6 points and career highs of 8.1 rebounds, 7.2 assists, and 1.2 steals per contest.
The former No. 6 overall pick of the 2021 draft also shot 46.5% from the floor and a career-best 37.8% from 3-point range. He finished 20th in the league in defensive rebounds (439) and 10th in assists (503).
He nearly averaged a 20-point triple-double over his final 19 games.
There’s been no market for restricted free agents this offseason due to the salary cap and concerns of the harsh penalties for exceeding the first and second aprons, per ESPN’s Bobby Marks.
The Bulls acquired Giddey in the trade deal that sent Alex Caruso to the Oklahoma City Thunder.