The panic meter is evidently rising regarding Josh Giddey's contract situation. After reports of Giddey anchoring for a $30 million pact, similar to the one Jalen Suggs signed last offseason, NBA Insider Jake Fischer reported the Bulls' and Giddey's discussions are "most strained" among the four restricted free agents.
Nonetheless, the Bulls aren't budging; instead, they're pushing an average annual total closer to $20 million. However, in today's NBA, $20 million per season for a starting point guard isn't reasonable, even amid the strict guidelines of the Collective Bargaining Agreement (CBA).
For what it's worth, Jalen Green earns roughly $35 million per season, Immanuel Quickley $32.5 million, Jordan Poole $32 million, and even the player Chicago traded to acquire Giddey, 31-year-old Alex Caruso, is on the books for $20.2 million per year through his age 35 season.
The Oklahoma City Thunder traded for Caruso, who was playing on the final year of a four-year, $37 million contract he signed with the Bulls in 2021, to re-sign him. The Bulls ostensibly did the same, considering Giddey was only 21 years old at the time of the trade and playing on the final year of his $27 million rookie contract.
Chicago should be eager to re-sign Giddey no matter the price
Yet, the Bulls haven't treated negotiations as such. Upon arriving in Chicago, Giddey rightfully sought a new contract. However, there was no palpable progress between the parties. Chicago reasonably wanted to see how the Aussie fit in on his new squad.
Giddey proved to be a difference-maker in his first season in the Windy City, averaging 14.6 points, 8.1 rebounds, 7.2 assists, and 1.5 three-pointers per game. He converted 46.5 percent of his field goals and 37.8 percent of his threes. The Bulls were also nearly 2.0 points per 100 possessions offensively with Giddey on the floor.
Most importantly, Giddey helped usher in the Bulls' new uptempo style of play. Chicago went from being ranked 28th to second in pace following Giddey's arrival. The 6-foot-8 floor general is the ideal grab-and-go playmaker.
Therefore, with Giddey being such a clean fit on the Bulls and displaying tantalizing potential, he's within his right to feel slighted by Chicago's efforts to re-sign him. Giddey shouldn't be the only outraged party; so should the fans.
As mentioned, Chicago sent universal fan-favorite Caruso to the Thunder in a player-for-player swap for Giddey. While re-signing Giddey just because Caruso was included in the trade feels like the sunk-cost fallacy—it's not. The Aussie is a foundational player moving forward and must be compensated as such.
