Bulls, Josh Giddey About $10 Million Apart As Contract Talks Continue

Nearly a month into the NBA free agency period, restricted free agent guard Josh Giddey and the Chicago Bulls remain locked in a contract stalemate. But both sides continue to communicate and are said to be motivated to reach a multiyear agreement, per Joe Cowley of the Chicago Sun-Times.

According to Cowley, Giddey’s camp is seeking a deal worth roughly $30 million annually, while the Bulls are aiming closer to $20 million. That leaves a sizable gap of around $8 to $10 million per year that the two sides have yet to bridge.

That valuation difference echoes what Fred Katz and Joel Lorenzi of The Athletic reported earlier this month. The duo polled 16 NBA front office executives on what they believe to be a fair market deal for Giddey. Fourteen respondents pegged the guard’s annual value in the $20 to $25 million range, aligning more closely with Chicago’s stance.

However, 10 of those same executives said they would be comfortable offering Giddey four or five fully guaranteed years, citing belief in his long-term upside. Only four free agents this summer — Naz Reid, Myles Turner, Nickeil Alexander-Walker and Sam Merrill — have received at least four guaranteed years so far.

“If you’re offering a four-year contract, you have to be correct,” one executive told The Athletic. “But Giddey, you could offer a four-year deal. He’s the anomaly. He might be worth that type of commitment.”

Four executives floated the idea of a four-year, $100 million deal. One was even open to a five-year, $125 million contract, making him the most aggressive voice in the poll.

Still, as Katz and Lorenzi pointed out, executives around the league may be incentivized to keep contract values down in public perception. A similar poll conducted about Jonathan Kuminga’s value leaned conservative as well.

If agents were surveyed instead, the projected contract for Giddey could skew higher, perhaps closer to what he and his reps are targeting.

For now, there is no urgency to strike a deal. Giddey’s qualifying offer remains on the table until at least October 1, just before training camp is scheduled to begin.

Giddey, 22, was acquired by Chicago in the trade that sent Alex Caruso to Oklahoma City last offseason. He started slowly with the Bulls but picked things up after the team moved on from Zach LaVine at the trade deadline.

From February through the end of the regular season, Giddey averaged 20.2 points, 9.5 rebounds and 8.1 assists across 25 games while shooting 49.1 percent from the field, 45.1 percent from deep and 80.1 percent from the line. That late surge may help his case as talks continue.

More NBA News & Rumors