Josh Giddey Using Leverage Against the Chicago Bulls in Contract Talks

The Chicago Bulls and free agent Josh Giddey are still negotiating a new contract

Oct 23, 2024; New Orleans, Louisiana, USA; Chicago Bulls guard Josh Giddey (3) looks on against the New Orleans Pelicans during the first half at Smoothie King Center. Mandatory Credit: Stephen Lew-Imagn Images | Stephen Lew-Imagn Images

Since the 2024 offseason, the Chicago Bulls have parted ways with two stars in DeMar DeRozan and Zach LaVine, as the franchise looks to enter a new, younger era. However, this offseason has not gone as expected for them.

The Bulls were expected to move on from guys like Nikola Vucevic and Patrick Williams, while re-signing Josh Giddey with no issues, but none of those have happened.

Giddey is still sitting in restricted free agency with no end in sight, while the Bulls try to talk him down from his asking price of around $30 million per year. However, the two sides could be sitting too far away from getting a deal done.

What is the Bulls' current offer?

Apr 9, 2025; Chicago, Illinois, USA; Chicago Bulls guard Josh Giddey (3) reacts after making a three point basket against the Miami Heat during the second half at United Center. Mandatory Credit: David Banks-Imagn Images | David Banks-Imagn Images

Bulls insider K.C. Johnson recently reported that the Bulls have offered Giddey a long-term deal worth around $20 million per year.

"The Bulls do have a long-term offer on the table, believed to be in the neighborhood of $20 million a year," Johnson said. "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."

“The Bulls do have a long-term offer on the table… believed to be in the neighborhood of $20 million/year.”

On the latest episode of The Fastbreak, @KCJHoop dives into the Bulls’ contract negotiations with Josh Giddey ⬇️ pic.twitter.com/zQjLZw1c78

— Bulls on CHSN (@CHSN_Bulls) August 19, 2025

This is a tale as old as time, as a player is asking for more money than a team is willing to give, but many fans are wondering how this situation will end.

How Giddey will get his money

While a sign-and-trade has been reportedly out of the equation, Giddey still has some leverage to use against the Bulls in these contract negotiations. Typically, a restricted free agent does not have much power against their team, but if Giddey is willing to take the qualifying offer, then the Bulls could be much more willing to cough up some extra money so that he doesn't.

NBA insider Jake Fischer recently reported that Giddey is holding the threat of signing the qualifying offer over the Bulls' heads as leverage.

"Will Giddey sign the qualifying offer?" Fischer said. "That is his threat. That is his leverage right now over the Chicago Bulls."

This does not mean that a deal will get done any easier, as there is no real indication of a reason why Giddey would want to take the qualifying offer, and the Bulls could call his bluff. However, it certainly seems like the two sides want to come to an agreement, and this is a smart move by Giddey to get a contract closer to his worth.

"Chicago doesn't want to lose Josh Giddey at all," Fischer continued. "...They traded Alex Caruso straight up for Josh Giddey when they had offers from various teams over the years for multiple first-round picks for Alex Caruso. That's how much they value Josh Giddey. They see him as a major focal point of their roster moving forward. But they are not going to engage in any sign-and-trade scenario, and they're not really going to move off their offer. So this is a holding pattern."