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NBA: Chicago Bulls at Philadelphia 76ers NBA: Chicago Bulls at Philadelphia 76ersFeb 24, 2025; Philadelphia, Pennsylvania, USA; Chicago Bulls guard Josh Giddey (3) drives around Philadelphia 76ers guard Quentin Grimes (5) during the third quarter at Wells Fargo Center. Mandatory Credit: Bill Streicher-Imagn Images

Report: Chicago Bulls nowhere near huge Josh Giddey contract

Originally posted on ChiCitySports | By Zachary Roberts | Last updated Jul 4, 2025 6:00 PM ET

The Chicago Bulls had one main goal this offseason, and that was to bring back Josh Giddey. One offseason after they flipped Alex Caruso for him, Giddey hit restricted free agency. The young guard played well in his one season with Chicago. His youth and talent indicated that a pretty substantial deal was imminent.

The expectation initially was that he’d sign for $30 million per season, something like the five-year, $150 million deal Jalen Suggs signed with the Orlando Magic. But with virtually no competition, the Bulls have tried to get a better deal for their books. So far, a deal is not remotely near.

NBA insider says Chicago Bulls, Josh Giddey remain apart

There was a report that Josh Giddey might ask for north of $30 million on his contract with the Bulls. Whatever he is asking for, whether it’s more or less than that benchmark, is apparently a lot more than the Bulls want to pay.

Per Drew Stevens, the two sides are “the Gulf of Mexico apart.” In other words, there is still a chasm between what each side is willing to do, and there’s no end to the negotiation in sight. Chicago may be trying to spend less because they don’t view Giddey as the best player on a competitive team. That’s part of why the Oklahoma City Thunder traded him and then immediately won the NBA Finals.

Giddey may be pointing to his excellent play for them, notably after the All-Star Break, where he guided them to a Play-In Tournament outing and helped them finish the season on a pretty high note, their crash-and-burn loss to Miami notwithstanding.

NBA: Chicago Bulls at Washington Wizards Chicago Bulls guard Josh Giddey (3) looks to pass the ball against Washington Wizards forward Alexandre Sarr (20) during the fourth quarter at Capital One Arena. Mandatory Credit: Reggie Hildred-Imagn Images

Either way, there’s a disconnect in the value. Naturally, Giddey is higher on himself than others might be. The Bulls, whether it’s because of his defensive limitations or lower ceiling, are lower on him. Right now, that’s causing a rift between the two sides. However, with no real competition and no traction with any other teams despite his RFA status, Giddey and the Bulls can continue to work things out.

This article first appeared on ChiCitySports and was syndicated with permission.

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