Josh Giddey and Bulls locked in contract standoff as guard seeks $150 million deal
Chicago Bulls guard Josh Giddey wants a massive payday, but the team isn’t ready to open their wallet that wide.
The 22-year-old is seeking a five-year, $150 million contract similar to what Orlando Magic guard Jalen Suggs received. That would put $30 million annually in Giddey’s pocket.
But the Bulls aren’t biting.
This disagreement has created what K.C. Johnson of the Chicago Sports Network calls a “stalemate” between the player and front office.
“I don’t have particular numbers other than to say that Giddey’s $30-million-a-year price tag that’s been well-documented in the media – and out there since last fall, when the rookie contract was discussed – has never crossed my radar,” Johnson said Tuesday on The Fastbreak.
“I’ve never heard the Bulls mention that number. So I would not expect Giddey to sign a $30-million-a-year deal.”
Despite the standoff, there’s still plenty of optimism that Chicago will eventually re-sign him – just not at the $150 million figure he’s asking for.
The Australian guard has been playing on a much more modest deal until now. According to Spotrac, Giddey signed a four-year, $27.21 million rookie contract back in August 2021, earning about $6.8 million per season.
He made $6.58 million in 2023-24 and $8.35 million this past season.
Giddey turns 23 in October and is heading into his fifth NBA season. His performance last year makes a strong case for a raise, even if not the massive one he’s seeking.
In 70 games (69 starts) last season, he averaged 14.6 points while posting career bests with 8.1 rebounds, 7.2 assists, and 1.2 steals per game.
The former No. 6 overall pick also shot a solid 46.5% from the floor and knocked down a career-best 37.8% of his three-pointers.
He ranked 20th league-wide in defensive rebounds (439) and 10th in assists (503).
Perhaps most impressively, Giddey racked up 30 double-doubles and seven triple-doubles throughout the season.
His best game came in a 121-103 win over the Indiana Pacers on March 10, when he put up a season-high 29 points along with 10 rebounds, four assists, and a block in just 27 minutes.
The Bulls acquired Giddey in the trade that sent fan-favorite Alex Caruso to the Oklahoma City Thunder. Interestingly, Giddey recently admitted he initially harbored some negative feelings toward his former team.
“When I left, I always thought that I’d be like, ‘Damn, I hope these guys miss the playoffs. I hope these guys don’t have any success,'” Giddey said on the Ball Magnets podcast.
But those feelings didn’t last long.
“But now watching it, as the season went on, I seriously love watching them. Obviously I’m with the Bulls, but the next team I’ve watched the most is OKC.”
What changed? The relationships he built during his time there.
“I love them, and I’m so close with a lot of the guys there, so that’s probably the main thing,” Giddey explained. “I genuinely root for those guys and want them to win the championship. I’m just so close with so many people there. … That place is unbelievable to play in in the playoffs.”
Now the question remains: can the Bulls and Giddey find middle ground on a deal that keeps him in Chicago long-term? Or will this contract standoff drag on through the summer?
