The Chicago Bulls are fighting for the postseason, sitting 10th in the Eastern Conference standings with a 4.5-game lead over No. 11 entering play on March 12. However, the Bulls also have pressing matters looming for the offseason, including Josh Giddey.
The Bulls acquired Giddey for Alex Caruso in a trade with the Oklahoma City Thunder during the 2024 offseason. He is on an expiring four-year, $27.2 million rookie deal.
He will be a restricted free agent, giving the Bulls final say. There is a catch, though.
“The question for the Bulls is, who is the real Josh Giddey? Is he the pre-All-Star Break player who would best be described as serviceable, or is he the post-All-Star performer who continues getting better each game?” The Athletic’s Darnell Mayberry wrote on March 11.
“An accompanying dilemma for the Bulls will be determining what price Giddey deserves on a contract extension. The strategic play would be allowing the market to determine Giddey’s value — the opposite of what the Bulls did last summer with Patrick Williams . However a deal gets done, the Bulls anticipate having Giddey back. The determination was made when he was traded from Oklahoma City to the Bulls for Alex Caruso last summer.”
Giddey averaged 12.2 points on 54.2% true shooting with 7.1 rebounds, 6.4 assists, and 1.1 steals in 51 starts before the break . In his nine starts since returning , Giddey boasts a 23.1/10.9/8.4 line with 1.0 steals and just a shade under 1.0 blocks per contest.
He has shot the ball more efficiently from beyond the arc too.
Giddey connected on 52.5% of those looks during his recent nine-game stretch compared to 34.5% before the All-Star break.
Bulls Could Face $30M Decision on Josh Giddey
“The going rate for a starting point guard in the NBA is around thirty million dollars. He is their starter,” ESPN’s Brian Windhorst said, per News.com.au’s Matthew Wells on March 12. “The question is going to be, if he doesn’t get an offer sheet, will the Bulls play hardball and make him come back on a one-year contract, or actually reward him?”
Windhorst cited a popular speculative notion that Toronto Raptors guard Immanuel Quickley and his $32.5 million annual salary as a likely target range for Giddey.
“They have extended Lonzo Ball . If they do see him (Giddey) as their point guard of the future — and that’s why they traded Alex Caruso — then I would expect them to try and invest in him,” Windhorst said, per Wells.
“I expect them to try do something with Giddey.”
According to the Chicago Sun-Times’ Joe Cowley, talks between the Bulls and Giddey’s camp stalled amid a similar rumored asking price.
“A source said the Bulls and Giddey stepped back from the negotiating table in the fall after Giddey and his representatives indicated they were looking to match Magic guard Jalen Suggs ’ extension of $30 million per year for five years,” Cowley wrote in February.
Artūras Karnišovas on the Clock With Josh Giddey
Bulls executive vice president of basketball operations Artūras Karnišovas has repeatedly stood by the trade to acquire Giddey. He recently noted that “everyone got what they wanted” out of the deal.
“For Giddey, this stretch run isn’t an audition so much as it is a negotiation. With each eye-popping performance, his asking price will only rise.”
Giddey is also dealing with an ankle injury which he reaggravated.
How that affects the rest of the season – let alone his outlook – is unclear. Windhorst still suspects Giddey will be rewarded.
“I will bet on Josh Giddey and I will bet on him getting a very long contract, whether he gets it this year or has to wait another year and end up as an unrestricted free agent,” Windhorst said, per Wells.
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