Bulls receive positive update on Josh Giddey contract negotiations

Josh Giddey

Bulls receive positive update on Josh Giddey contract negotiations originally appeared on The Sporting News

The Chicago Bulls remain at a standstill with restricted free agent Josh Giddey, though the two sides could be nearing a new deal.

Chicago reportedly offered the Australian point guard a four-year, $80 million contract earlier this summer. However, Giddey is seeking a deal in the range of $30 million. While a deal hasn’t been finalized yet, the team seems likely to find common ground with Giddey, who is expected to become a long-term fixture of the team’s ongoing rebuild.

The Bulls hold plenty of leverage, as few teams have the cap space to offer Giddey a lucrative salary. Still, it wouldn’t be surprising to see a resolution materialize soon.

Josh Giddey, Bulls likely to find ‘common ground’ on long-term deal

While nothing is set in stone, the Bulls want Giddey to remain in Chicago on a long-term deal. He could still accept his qualifying offer and play out the remaining year of his contract, though it seems more probable a deal gets done before training camp, according to Brett Siegel of ClutchPoints.

“All indications from Chicago this summer are that the Bulls and Josh Giddey will find common ground on a new, long-term contract that keeps him as one of the building blocks of the franchise,” he wrote.

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After spending the first three years of his career with the Oklahoma City Thunder, the 22-year-old requested a trade while facing a reduced role. In his first season with Chicago, Giddey averaged 14.6 points, 8.1 rebounds, 7.2 assists and 1.2 steals across 30.2 minutes per game in 70 regular-season appearances.

The former No. 6 overall pick appears to be a significant part of the Bulls’ long-term plans alongside Matas Buzelis. Letting Giddey accept his qualifying offer and enter unrestricted free agency next offseason could prove to be a costly mistake, especially with Coby White also on an expiring contract.

Giddey displayed improvement in the 2024-25 campaign, shooting a career-best 37.8 percent from three-point range. If he can continue to develop, his ability to stuff the stat sheet will be pivotal for the future success of Bulls basketball.