Ex-Knicks Star's Contract Has 'Screwed Up' Josh Giddey's Contract Negotiations

Former New York Knicks guard's contract has affected Josh Giddey and the Chicago Bulls' contract negotiations according to ESPN's Bobby Marks

Nov 13, 2022; New York, New York, USA; Oklahoma City Thunder guard Josh Giddey (3) looks to make a pass while being defended by New York Knicks center Jericho Sims (45), and guards Derrick Rose (4) and Immanuel Quickley (5) in the fourth quarter at Madison Square Garden. Mandatory Credit: Wendell Cruz-Imagn Images | Wendell Cruz-Imagn Images

The Chicago Bulls are in a standoff with restricted free agent Josh Giddey, who has yet to come to terms on a new deal. He is set on receiving a contract of around $30 million in annual value, similar to the value other guards have gotten.

However, the Bulls have yet to budge on what they want, which is rumored to be around $20 million annually. They realize restricted free agents have had no leverage this offseason, so they don't want to outbid themselves like they did with Patrick Williams a year ago. Jonathan Kuminga, Quentin Grimes, and Cam Thomas are all stuck in the same situation with their respective teams, too.

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

The contract that Giddey wants is similar to Jalen Suggs of the Orlando Magic: five years, $150 million. That averages out to a little more than $32 million per year. Suggs is a good player, better on defense than offense, but the Magic were willing to buy into his potential.

However, ESPN's Bobby Marks thinks the contract that is hurting negotiations is Immanuel Quickley, who signed a five-year, $162 million contract last year. It would be easy for Giddey to look at that contract and say, "I deserve at least what he got," but things aren't that simple.

"The Immanuel Quickley contract, that five for $150 [million], in bonuses it almost gets to $160 [million], has totally screwed up restricted free agents. Because that's where agents are looking at like the benchmark. Certainly, Josh Giddey's like, 'I want that contract.' That number has screwed up a lot of things...," Marks shared.

"It's a rich contract. I don't think Toronto got enough heat for that number because Immanuel Quickley is not a $32, $33 million guy," he added.

It may be veering towards restricted free agents accepting their qualifying offers so they can enter unrestricted free agents next offseason, where they'd have more leverage.

Immanuel Quickley Transition 3s 24-25 pic.twitter.com/PKpVP2l0SJ

— alessio (@alessio_nba) July 2, 2025

Toronto's Poor Negotiation History

The Toronto Raptors have wildly overpaid in negotiations recently, giving Quickley the $162 million over five years, Scottie Barnes $224 million over five years (jury is still out on that one), Brandon Ingram $120 million over three years despite not playing a game for the team after a trade, and Jakob Poeltl $84 million over three years, a contract that doesn't even kick in until next season.

Some of those contracts are a big reason why the Toronto Raptors recently dismissed Masai Ujiri from his position as the team's general manager.

Related Articles

Los Angeles Lakers Reportedly Eyeing 2x NBA All-Star Center

Chicago Bulls Facing Decision With $60 Million Star Player on Expiring Contract

NBA Legend Dwyane Wade Puts Steph Curry, LeBron James in Exclusive List