The Chicago Bulls find themselves in a tricky situation with restricted free agent Josh Giddey. The 22-year-old guard is coming off a decent finish to the 2024–25 season and is reportedly seeking a contract worth $30 million annually. While his growth and potential are undeniable, the Bulls are moving cautiously.
Three-time NBA champion and team broadcaster Stacey King recently laid out the reasoning behind the organization’s hesitation. On a recent episode of Gimme The Hot Sauce Podcast, the former Bull explained the entire situation.
According to King, the Bulls hold all the leverage. Because Giddey is a restricted free agent, Chicago has the right to match any offer he receives. At present, only the Brooklyn Nets have the cap space to meet Giddey’s asking price, but there’s no indication they’re preparing such an offer. That allows the Bulls to take their time, knowing no external pressure is forcing their hand.
King pointed out that Chicago has already made one significant gamble in recent years, offering Patrick Williams a $90 million extension. He said, “I think they learned their lesson last year with Patrick Williams…They were in the same situation…a restricted free agent, and they were bidding against themselves.”
While King admits Williams is “close to turning a corner,” the Bulls are handling the Giddey situation more cautiously. They aren’t eager to make the same mistake by paying Giddey at the top of the market before he shows sustained production across a full season. Still, Giddey has leverage of his own.
King noted the possibility that Giddey could decline any long-term offer, accept his qualifying offer for one year, and hit unrestricted free agency in 2026. It’s a high-risk move that echoes the path Jimmy Butler once took.
The two-time NBA Champion said, “He could do a Jimmy Butler. He could say, ‘I’ll take a one-year deal, the qualifying offer, and then I’m on the free agent market when all those teams next year will have money.’” If Giddey stays healthy and performs at an elite level again next season, he could command even more money when more teams have cap space to spend.
On the court, Giddey’s case is compelling. He averaged 14.6 points, 8.1 rebounds, and 7.2 assists while playing 70 games last season. King believes the talent is there. Giddey’s all-around skill set and high basketball IQ point toward future All-Star selections. But the Bulls want consistency before investing heavily.
