The Chicago Bulls have yet to tie Josh Giddey down to a new contract. The playmaking guard is a restricted free agent this summer.
However, Bulls fans have finally received a positive update regarding negotiations between Chicago and Giddey’s camp. According to ESPN’s Jamal Collier, there have been “positive” contract discussions during the opening week of Las Vegas Summer League.
“Giddey was present in Las Vegas and had lunch with Bulls coach Billy Donovan, sources told ESPN, and Bulls executives were scheduled to meet with Giddey’s agent during the week,” Collier reported. “Multiple sources told ESPN they expect Giddey and the Bulls to eventually come to a contract agreement, and the two sides have had some positive discussions.”
Collier continued.
“Yet, Giddey has been seeking a contract for approximately $30 million annually. With little cap space available this summer, Giddey’s options for alternatives outside of Chicago dried up quickly, giving the Bulls leverage to hold off for a more team-friendly deal. ”
Giddey made a big impact during his debut season with the Bulls’ franchise. The 22-year-old forward averaged 14.6 points, 8.1 rebounds and 7.2 assists in 70 outings for Billy Donovan’s team. He shot 46.5% from the field and 37.8% from 3-point range. Giddey has proven himself to be a key piece of Chicago’s rebuild.
As such, re-signing him to a new deal is likely a top priority for the franchise.
Giddey Has Been “Absent” From Bulls Games
According to NBA Insider Jake Fischer, Giddey has been absent from the Bulls’ opening games at Summer League.
“Josh Giddey is in Las Vegas, but has noticeably been absent from both Bulls games at Summer League,” NBA insider Jake Fischer reported on X on July 12. “Several veterans just sat courtside here. Certainly seems like an indication that negotiations between the point guard and Chicago are not trending in an amicable direction.”
While the optics of Giddey not being in the crowd aren’t great, the idea that he’s been with team officials behind the scenes is still encouraging. After all, securing his long-term future with the franchise is more important than being present in the stands.
Giddey is Unlikely to Get $30 Million
During a July 9 episode of “The Fast Break” via Chicago Sports Network, Bulls’ insider K.C. Johnson shared his doubts that Giddey will get a $30 million per year contract this summer.
“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.”
Unfortunately for Giddey, his restricted free agency has occurred in a summer when there’s little to no cap space around the NBA. As such, the Bulls’ front office is somewhat in the driving seat in terms of negotiations.
So, while Giddey does project to earn a significant pay rise, his $30 million per year asking price is likely out of the question. Still, that doesn’t mean a deal can’t be reached, especially if both sides want to keep the partnership going.
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