Josh Giddey Turns Down Bulls’ $80 Million Offer, Seeking Bigger Payday
Josh Giddey has rejected the Chicago Bulls‘ initial four-year, $80 million contract offer, creating a significant standoff between the team and the restricted free agent.
The 22-year-old guard is looking for substantially more money.
According to K.C. Johnson of Chicago Sports Network, the Bulls have a long-term offer on the table “believed to be in the neighborhood of $20 million a year.” But there’s a problem.
“It’s pretty well-documented that Josh Giddey and his representation are seeking in that $30 million range,” Johnson reported.
That’s a $10 million per year gap that won’t be easy to bridge.
Unlike previous restricted free agent situations, the Bulls aren’t showing any interest in a sign-and-trade deal that would send Giddey elsewhere.
Giddey has his sights set on a five-year, $150 million contract similar to what his draft classmates recently secured. Orlando’s Jalen Suggs just signed for $150.5 million over five years, while Toronto’s Immanuel Quickley landed an even bigger deal at $162.5 million.
The Bulls can actually afford to pay up if they want to. According to Spotrac, Chicago is $38.6 million under the luxury tax threshold, giving them plenty of room to offer Giddey the bigger contract he’s seeking without financial penalties.
Giddey Wants to Stay in Chicago
Despite the contract standoff, Joe Cowley of the Chicago Sun-Times reported last month that Giddey “wants to get a deal done to stay in Chicago.” The sides have reportedly been “$8 million to $10 million per year apart” in negotiations.
NBA insider Jake Fischer confirmed the Bulls haven’t budged much, noting the team “has been anchored in the $20 million range in annual value ever since its original offer” earlier this offseason.
Giddey’s rookie contract with Oklahoma City paid him $6.58 million in 2023-24 and $8.35 million this past season. The Bulls acquired him in the trade that sent fan-favorite Alex Caruso to the Thunder.
The young Australian, who turns 23 in October, is coming off his best season yet. He averaged 14.6 points while setting career highs with 8.1 rebounds, 7.2 assists, and 1.2 steals per game.
His shooting also improved dramatically. Giddey hit a career-best 37.8% from three-point range last season, addressing what had been his biggest weakness.
He ranked 20th league-wide in defensive rebounds (439) and 10th in assists (503), showing his all-around impact as a 6-foot-8 guard who can do a bit of everything.
Now the question is whether the Bulls will increase their offer or if Giddey will eventually accept what’s on the table as training camp approaches.
