New Report on Chicago Bulls, Josh Giddey Free Agency Talks

Josh Giddey is still waiting on a new contract from the Chicago Bulls. He thrived with the ball in his hands this year, especially once the team traded away Zach LaVine. From the start of February on, a stretch of 25 games, Giddey averaged 20.2 PPG, 9.5 RPG, and 8.1 APG. Both Giddey and the team are believers that he could continue that level of production over the course of a season.

However, Giddey is a restricted free agent this offseason, meaning the Bulls have a lot more control over his free agency. Giddey was welcome to go out to try and get an offer sheet from another team, but the Brooklyn Nets were the only team with cap space this offseason, and they decided to use that in other ways. That has Giddey in a tricky situation.

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

Reports have indicated that Giddey is seeking a contract around what Jalen Suggs received from the Orlando Magic, with an average value of $30 million per year. The Bulls don't seem interested in giving that to him.

K.C. Johnson of CHSN reported on a show called "The Fastbreak" that "Both the Bulls and Giddey want to get a deal done. The Bulls, knowing that the market is scarce and the restricted free agency market has very little movement... are playing the slow game here.

"...Josh Giddey's $30 million per year price tag that has been well-documented in the media and out there since last fall when the rookie contract extension was discussed has not ever crossed my radar. I have never heard the Bulls mention that number. So, I would not expect Josh Giddey to sign a $30 million [per year] deal.

The Bulls are holding firm on not offering Josh Giddey $30 million annually in contract negotiations, per @KCJHoop.

If Giddey’s representatives continue not to like Chicago’s offers, they could accept the $11 million qualifying offer to become an unrestricted free agent in 2026. pic.twitter.com/zfqP5w5VeX

— Evan Sidery (@esidery) July 8, 2025

"...There is a world where Josh Giddey could sign his one-year qualifying offer, which, yes, has been tendered by the Bulls... That qualifying offer is $11.1 million, and it would allow Josh Giddey to become an unrestricted free agent in 2026."

Giddey leaving in a year as an unrestricted free agent would be the worst-case scenario, especially when both sides want him in Chicago. They found a way to play him alongside Coby White, and for it to work, and he's a talented young player. The Bulls shouldn't let that walk out of the building, given the current state of the team.