Chicago Bulls Sweetening Contract Offer for Josh Giddey Amid Stalemate

The Bulls are trying to make a contract work with their point guard.

Nov 17, 2024; Chicago, Illinois, USA; Chicago Bulls guard Josh Giddey (3) arrives at United Center before the game against the Houston Rockets . Mandatory Credit: Matt Marton-Imagn Images | Matt Marton-Imagn Images

Restricted free agency has been quite the snafu in the 2025 offseason. With multiple players seeking new deals with their teams after solid seasons in 2024-2025, the organizations have stood pat.

Jonathan Kuminga's contract situation remains unresolved. There have been a few updates on Quentin Grimes, and Josh Giddey is still seeking a new deal in Chicago.

Four prominent restricted free agents and how their net points evolved over last year.
- Giddey blew up after the trade deadline
- Thomas and Kuminga had a lot of missing time.
- Grimes had pretty normal ups and downs.
- Thomas, Kuminga, and Grimes are reasonably all average. pic.twitter.com/bQk39EVdno

— Dean Oliver (@DeanO_Lytics) July 26, 2025

Memphis Grizzlies forward Santi Aldama signed at the start of free agency, clearing him of any negotiations. Meanwhile, Cam Thomas signed the qualifying offer from the Brooklyn Nets, but where does that leave Giddey with the Bulls?

The Bulls Sweeten Their Offer

Leverage is a beautiful thing. In the case of Josh Giddey and the Bulls, it seems that there is just a staring contest between both parties.

He has reportedly been seeking a contract of $30 million per year, but the Bulls have been closer to the $20 million mark. The leverage in this case goes to the Bulls simply because there is limited cap space around the league.

TAKE A BOW, JOSH GIDDEY

15 points
10 rebounds
17 assists
8 steals

The first player in NBA HISTORY with this stat line. pic.twitter.com/aNwzl7290f

— Chicago Bulls (@chicagobulls) March 23, 2025

A new report by Brett Siegel of ClutchPoints revealed that the Bulls are starting to budge.

"Although they held firm on their offer of around $20 million per season, the Bulls have recently increased their proposed contract to try and end this stalemate. Chicago has presented Giddey and his representation with a four-year contract in the ballpark of $85 million to $90 million, league sources said."

Siegel continued to explain, "This is likely the last contract proposal the Bulls will offer this offseason, as it's essentially a compromise from what both sides wanted. Whereas the Bulls entered the summer wanting to keep Giddey on a deal around $20 million per season, he wanted to be paid close to $30 million per year."

What Giddey Brings to the Bulls

The decision by Cam Thomas to sign the qualifying offer with the Nets is a resolution to a standoff in negotiations, and may influence Giddey's situation as well.

With two promising young players in Thomas and Giddey, the move to sign a qualifying offer could signal a shift in philosophy for the Bulls' point guard.

😤 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

Siegel wrote, "While the Bulls had hoped that a deal would've been reached by now, they remain confident that Giddey won't follow the same path as Kuminga and Thomas in restricted free agency."

"Then again, if he isn't happy with this new offer from the Bulls, then the $11.1 million qualifying offer is the only other choice," he concluded.

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