Signing Josh Giddey to a long-term contract will be the fastest way to ensure the Chicago Bulls enjoy a successful postseason. Giddey is heading into restricted free agency. Therefore, the Bulls will retain some form of control.
According to Michael Scotto of HoopsHype, Giddey is expected to push for a contract worth $150 million. Scotto noted that Giddey could use Jalen Suggs’ recent contract as a potential framework for his own negotiations. Although it is worth noting, Giddey is a more impactful player than Suggs.
“The belief around the league is Bulls restricted free agent guard Josh Giddey hopes to command a similar five-year, $150 million deal to Orlando Magic guard Jalen Suggs and earn roughly $30 million annually or more,” Scotto reported.
Giddey enjoyed a strong debut season with the Bulls. In 70 games, he averaged 14.6 points, 8.1 rebounds and 7.2 assists, shooting 37.8% from 3-point range and 51.2% from 2-point range.
Furthermore, Giddey developed a strong partnership with Coby White as the season progressed. Now, the front office likely views that pairing as its starting backcourt of the future. As such, we can expect the Bulls to be open to the notion of paying Giddey what he’s looking for. Especially if it means avoiding him hitting the free agency market altogether.
Bulls Could Get Lucky With Giddey
According to NBA cap expert Yozzi Gozlan, via his “Third Apron” Substack newsletter, the Bulls could get lucky with Giddey and sign him to a team-friendly deal.
“The harsh conditions of restricted free agency and the lack of offers that may come with it could get the Bulls to offer him something in the low $20 million range annually,” Gozlan wrote. “An annual salary in the $25 million range could be his ceiling and ultimately a fair compromise.”
Gozlan’s projections likely assume Chicago lets Giddey explore his market in free agency. While that is a risky move, it could save the franchise millions in the long run.
Bulls Would be Smart to Take Risk With Giddey
Joe Cowley of the Chicago Sun-Times appears to be on board with the Bulls taking a slight risk with Giddey’s free agency.
“The Bulls can let Giddey go to market where there are limited suitors, see what the market bids on him, and then have the right to match it,” Cowley wrote. “Basically, what they should have done with Patrick Williams and didn’t.”
As he’s a restricted free agent, Chicago can match any offer sheet that Giddey signs. By letting him test free agency, there’s an opportunity for the Bulls to get their guy at below his current asking price.
Nevertheless, there’s also the risk that Chicago is priced out of keeping their star talent. The Brooklyn Nets head into the summer with a significant amount of cap space. If they choose to pursue Giddey, it could put the Bulls in a tough spot.
The front office has a choice to make. They can either give Giddey the $150 million he’s looking for. Or, they can roll the dice and let the market dictate his value. Either way, his future projects to be with the Bulls.
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