The Josh Giddey Problem Could Be Ending Soon for Chicago Bulls

KC Johnson of the Chicago Sports Network provided an update on the situation. Could there be a resolution soon?

"The Bulls do have a long-term offer on the table, believed to be in the neighborhood of $20 million a year. It's pretty well-documented that Josh Giddey and his representatives are seeking in that $30 million range, so there's still a pretty significant gulf financially," Johnson said.

"The difference in this restricted free agency situation from a prior one, that's unlike the Lauri Markkanen situation, the Bulls have given no indications league-wide of being amenable to a sign-and-trade."

In regards to Markkanen, he was eventually included in a three-team sign-and-trade that sent him to the Cleveland Cavaliers, where the Bulls received Derrick Jones Jr., a conditional first-round pick that never conveyed, and a second-round pick. A year later, the Cavaliers traded him to the Utah Jazz for Donovan Mitchell.

Johnson is confident that this will reach a "positive" resolution, but it's a matter of time.

Could Josh Giddey Accept the Qualifying Offer?

There are four restricted free agents still awaiting long-term deals: Giddey, Cam Thomas, Quentin Grimes, and Jonathan Kuminga. Of the group, Giddey seems the likeliest to come to terms on a long-term deal. Giddey seems like he'd love to be back in Chicago, which can't be said for Kuminga.

Thomas seems the likeliest to accept the qualifying offer. A report surfaced recently that he sees himself as a $40 million per year player, which just isn't going to happen. No one, either this year or next, will want to hand Thomas that kind of contract.

Kuminga has talked up like he would be okay with taking the qualifying offer, but they don't seem too far off on negotiations. Grimes is a complete unknown, but the 76ers seem confident in getting a deal done there.