As the NBA offseason moves along, the Chicago Bulls continue negotiations with restricted free agent Josh Giddey and the sides engaged in positive conversations. The two sides project to “eventually” comes to an agreement on a new contract, according to ESPN’s Jamal Collier,
Collier reports that Giddey recently ate lunch with coach Billy Donovan and Bulls brass in Las Vegas. In addition, Giddey’s agent is expected to meet with the team this week.
Giddey reportedly seeks a contract extension that would pay him in the neighborhood of $30 million per season. The 22-year old just wrapped up his first season with the Bulls earlier this year after being acquired from the Oklahoma City Thunder in a trade that sent Alex Caruso to the reigning NBA champions.
Giddey is not expected to land a new contract in the range of $30 million annually, which could be why the two sides haven’t come to terms on a new deal just yet, according to Chicago Sports Network’s K.C. Johnson reported. Johnson reports that Giddey is expected to play for the Bulls in 2025-26 due to the fact that most NBA teams don’t possess the necessary cap space to sign him.
It is possible that Giddey could just play out the 2025-26 season on the final season of his deal, which is around $11 million. As a result, he would become an unrestricted free agent next summer, but that’s likely not a scenario that either side wants to visit.
Giddey looks to be a foundational piece for a Bulls team that has hovered around the .500 mark in each of the last four seasons. He put together averages of 14.6 points, 8.1 rebounds, and 7.2 assists, while shooting a career-best 37.8% from beyond the arc in 2024-25.
While the Bulls have a long way to go before becoming a Eastern Conference contender, a backcourt tandem of Coby White and Giddey is a strong starting point towards achieving such a goal. As a result, the Bulls likely want to come to terms on a long-term contract extension in the near future.
