Bulls Contract Offer to Josh Giddey Revealed: Report

The Chicago Bulls and Josh Giddey are still working out his new contract.

Nov 22, 2024; Chicago, Illinois, USA; Chicago Bulls guard Josh Giddey (3) brings the ball up court against the Atlanta Hawks during the first half at United Center. Mandatory Credit: Kamil Krzaczynski-Imagn Images | Kamil Krzaczynski-Imagn Images

The Chicago Bulls remain in a stalemate with restricted free agent Josh Giddey. Talks seemingly haven't progressed between the two sides at all this offseason, as both sides have a set price in mind.

Giddey's price has been firm at $30 million per year, looking to get a similar contract to guards who signed deals recently, as Brett Siegel reported in his latest piece on ClutchPoints.

"No progress has been made between Josh Giddey and the Chicago Bulls on a new deal in restricted free agency, league sources said," Siegel reported.

Apr 6, 2025; Charlotte, North Carolina, USA; Chicago Bulls guard Josh Giddey (3) shoots against the Charlotte Hornets during the second half at Spectrum Center. Mandatory Credit: Nell Redmond-Imagn Images | Nell Redmond-Imagn Images

"The two sides met at NBA Summer League in Las Vegas, where Giddey and his camp made it clear they want a contract similar to that of Jalen Suggs (5-year, $150 million) and Immanuel Quickley (5-year, $162 million) and have not come down from their $30 million annual average value asking price," Siegel added.

Meanwhile, the Bulls realize that there is no market for Giddey, or really any restricted free agents in general. Most NBA teams didn't have a lot of money to spend this offseason, and the one team that did, the Brooklyn Nets, decided to use it to add draft capital to take on bad contracts.

😤 HUGE NIGHT FOR JOSH GIDDEY 😤

25 PTS | 14 REB | 11 AST | 2 STL | 4 3PM

And the #TissotBuzzerBeater 🚨 pic.twitter.com/zsps0H4DAX

— NBA (@NBA) March 28, 2025

"The Bulls have not offered more than a four-year contract in the $20 million per year range," Sigel continued. "However, the two sides are expected to reunite and negotiate and find common ground on a new deal this summer. No team outside of Chicago has expressed legitimate interest in Giddey due to his contract demands."

Chicago could always add a trade kicker to his contract to give him more money in the event he is ever traded, which could be a way for both sides to get what they want. But the Bulls learned last year in the Patrick Williams negotiations not to bid against themselves, something they're doing here.

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