Josh Giddey‘s contract negotiations with the Chicago Bulls appear to have stalled.
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. It has previously been reported that Giddey is looking for a deal similar to what Jalen Suggs signed with the Orlando Magic.
“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.”
Giddey is currently a restricted free agent. However, there has been little reported interest from other teams around the NBA. Part of that lack of interest is due to the limited cap space most teams are working with this summer.
Chicago acquired the playmaking guard last summer. They sent Alex Caruso to the Oklahoma City Thunder in exchange for Giddey. He impressed during his debut season in the Windy City, averaging 14.6 points, 8.1 rebounds, and 7.2 assists on 46.5% shooting from the field and 37.8% from 3-point range.
Giddey Unlikely to Get $30 Million
In the latest episode of Chicago Sports Network’s “The Fastbreak,” Bulls insider K.C. Johnson discussed why he doesn’t expect Giddey to receive a $30 million per season deal.
“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.”
Giddey could still sign a new deal with the Bulls before the end of the summer. However, he and his camp will likely need to accept a lower yearly salary. Otherwise, his other option would be to opt into his player option and become an unrestricted free agent next summer.
The Bulls Hold the Cards
Given the lack of competition for Giddey’s services this summer, the Bulls are operating from a position of strength. Therefore, Giddey may need to adjust his expectations if he wants to continue his career with the Bulls. K.C. Johnson recently shared a similar sentiment.
“The Bulls have been able to talk with his representatives, as they did last fall when there was a rookie contract extension in play,” Johnson said. “And no deal. So this supports what I’ve been reporting, that the Bulls are negotiating from a position of strength. That’s not to say they don’t want Josh Giddey back. That’s not to say they traded Alex Caruso for a guy they’re going to let walk. What it is to say is they have learned from the Patrick Williams situation, where they very proactively outbid the competition.”
It will be interesting to see how negotiations progress over the coming weeks. Chicago clearly wants to keep Giddey around long-term. He’s proven to be a potential cornerstone for the franchise’s rebuild. However, they’re right to be cautious about overpaying. After all, cap flexibility is essential when trying to construct a contending roster.
Like Heavy Sports’s content? Be sure to follow us.
This article was originally published on Heavy Sports
The post NBA Insider Provides Frustrating Update on Bulls’ Josh Giddey Negotiations appeared first on Heavy Sports.