Josh Giddey‘s restricted free agency is showing no signs of ending. It would appear the playmaking guard and the Chicago Bulls are stuck in a stalemate given the current terms on offer.
As such, Giddey and the Bulls front office will both be waiting to see who blinks first. According to a July 21 report from ClutchPoints’ Brett Siegel, Giddey’s representatives and the Bulls front office are still expected to work towards finding a fair deal for both parties.
“No progress has been made between Josh Giddey and the Chicago Bulls on a new deal in restricted free agency, league sources said,” Siegel reported. “The two sides met at NBA Summer League in Las Vegas, where Giddey and his camp made it clear they want a contract similar to that of Jalen Suggs (5-year, $150 million) and Immanuel Quickley (5-year, $162 million) and have not come down from their $30 million annual average value asking price.”
Siegel’s report continued.
“The Bulls have not offered more than a four-year contract in the $20 million per year range. However, the two sides are expected to reunite and negotiate and find common ground on a new deal this summer. No team outside of Chicago has expressed legitimate interest in Giddey due to his contract demands.”
Giddey has become an important part of the Bulls’ rebuild. However, the franchise is being wise in refusing to overpay. Chicago’s stance is further solidified due to the lack of interest from elsewhere in the NBA. Nevertheless, the Bulls should still look to reach an agreement swiftly. Things can change too quickly in the NBA for them to be taking their foot off the gas.
Giddey’s Camp Holding Firm on Asking Price
According to a July 17 report from NBA Insider Jake Fischer, Giddey’s representatives “have not wavered” in their asking price of $30 million per season.
“Back to Giddey and the Bulls: Chicago’s front office has no shortage of experience when it comes to waiting out a restricted free agency market,” Fischer reported. “This time, Giddey’s representation has not wavered in its pursuit of a $30 million annual salary, sources say, while the Bulls’ offers have been much closer to $20 million.”
A fair compromise would be meeting in the middle at $25 million per year. In truth, that will likely end up being the outcome. However, it would appear both sides want to come away feeling like they got good value in the deal.
Giddey Unlikely to Get $30 Million
Bulls insider K.C. Johnson doesn’t expect Giddey to sign a contract worth $30 million per season. He shared his reasoning during a recent episode of Chicago Sports Network’s “The Fastbreak.”
“The Bulls and Giddey want to get a deal done,” Johnson said. “I don’t have particular numbers other than to say that Josh Giddey’s $30 million a year price tag that has been well-documented in media and out there since last fall when the rookie contract extension was discussed, has not ever crossed my radar. I have never heard the Bulls mention that number. So I would not expect Josh Giddey to sign a $30 million deal.”
Regardless of what happens, Bulls fans will likely want the saga to end in the coming weeks. Giddey is a core part of the team’s rebuild. The last thing the franchise will want to do, is alienate an important part of the rotation. Still, it will be interesting to see what number the two sides agree on, once a contract is finally signed.
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