Josh Giddey’s contract status will be among the biggest talking points for the Chicago Bulls this summer. Giddey is entering restricted free agency. Chicago failed to agree on terms for an extension last summer.
The Bulls are expected to match any offer sheet that Giddey signs. He’s proven himself to be the ideal cornerstone for Chicago’s rebuild. According to Bleacher Report’s Zach Buckley, inking Giddey to a five-year extension is the most likely outcome for the Bulls.
“Chicago, of course, also had some control over Giddey’s future with restricted free agency awaiting him, but it might still be noteworthy that the price tag on said free agency likely spiked over the season’s final stretch,” Buckley wrote. “The Bulls could lean on their leverage and let Giddey test the market, knowing they have the power to match whatever offer he finds from the few teams with cap space to spare.”
Buckley continued.
“But knowing this front office—the same one that gave Patrick Williams a five-year, $90 million deal last summer—and its particular affinity for Giddey, Chicago seems less likely to take that route than it is to just give him a bloated deal before he hits the “open” market.”
Giddey has been fantastic for the Bulls this season. In 70 games, he averaged 14.6 points, 8.1 rebounds and 7.2 assists. He shot 46.5% from the field and 37.8% from 3-point range.
Bulls Should Let Giddey Test the Market
According to Joe Cowley of the Chicago Sun-Times, the Bulls would be wise to allow Giddey to test his free agency market. That way, the franchise can ensure they’re not overpaying to keep their star talent around long-term.
“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.”
Of course, the risk to that approach is that Chicago gets outbid by a cap-space team such as the Brooklyn Nets. Therefore, it may be prudent to re-sign Giddey before he gets a chance to field offers from elsewhere in the league.
Bulls’ Unlikely to Retain Tre Jones
Another free agent this summer will be Tre Jones. The 25-year-old guard joined Chicago as part of the Zach LaVine trade. However, “Pat The Designer” of Locked on Bulls, believes that Jones’ future lies away from the Bulls franchise.
“I would love to have Tre Jones on this team,” Pat said. “I think he is literally the piece that you want to have if you’re the Chicago Bulls. But, instead, you decided to re-sign Lonzo Ball for $10 million for 35 games. That’s the Tre Jones spot to me…It just doesn’t make sense to bring him back. Unless you’re just going to say ‘we expect Lonzo to be out.’ But, then it’s like ‘you shouldn’t have paid Lonzo.’”
Bulls fans will likely accept losing Jones, as long as Giddey remains with the franchise. Losing the future All-Star would be a hammer blow and would set the team’s rebuilding plans back by multiple years. Of course, if Chicago can keep both guards, then that would be the optimum path forward for the rebuilding of the roster.
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