Josh Giddey is heading into restricted free agency. The impressive young guard failed to agree on terms for a contract extension with the Chicago Bulls last summer.
Chicago still holds all the cards. They can match any offer sheet Giddey signs, or they can look to re-sign him to a new deal of their own. According to Joe Cowley of the Chicago Sun-Times, the Bulls should let Giddey hit the restricted free agent market. That way, the Bulls would be letting the open market dictate the value of Giddey’s next deal.
“The Bulls can let Giddey go to market where there are limited suitors, see what the market bids on him, and then have the right to match it,” Cowley wrote. “Basically, what they should have done with Patrick Williams and didn’t.”
Of course, allowing Giddey to hit the restricted free agent market is a risk. An opposing team could offer the impressive guard a contract that the Bulls aren’t willing or able to match. The Brooklyn Nets are the most likely franchise to outprice Chicago in any potential bidding war, as they enter the offseason with significant cap space.
Giddey has proven himself to be the ideal building block for the Bulls’ rebuild. In 70 games, the versatile playmaker averaged 14.6 points, 8.1 rebounds and 7.2 assists, shooting 46.5% from the field and 37.8% from deep.
Bulls Could Lose Tre Jones
Chicago also has the impending free agency of Tre Jones to deal with. Jones, 25, joined the franchise as part of the Zach LaVine trade. He instantly made an impact and proved himself as a strong fit for Billy Donovan’s system.
However, according to “Pat The Designer” of Locked on Bulls , Chicago’s decision to sign Lonzo Ball to a two-year $20 million contract extension could mean Jones walks in free agency.
“I would love to have Tre Jones on this team,” Pat said. “I think he is literally the piece that you want to have if you’re the Chicago Bulls. But, instead, you decided to re-sign Lonzo Ball for $10 million for 35 games. That’s the Tre Jones spot to me…It just doesn’t make sense to bring him back. Unless you’re just going to say ‘we expect Lonzo to be out.’ But, then it’s like ‘you shouldn’t have paid Lonzo.’”
Ball continues to struggle with injury issues and has played in just 35 games this season.
Bulls Rebuild Will Take Time
The Bulls have slowly been pivoting toward a youth movement over the past 18 months. DeMar DeRozan , LaVine, and Alex Caruso have all left the franchise. In the April 18 episode of Fan Duel TV’s “Run It Back,” Kenny Beecham admitted that Bulls fans may need to wait two or three years before they can be excited about Chicago’s chances of success.
“I don’t think there’s saving this team,” Beecham said. “A lot of us wanted this team to take a step back, which they did. They traded Zach LaVine . Traded DeMar DeRozan before the season started. And, even then, we still look at the roster squinting our eyes, like ‘there’s not a lot going on here.’ I think we’ve still got two to three more years before we can be excited about Bulls’ basketball again.”
Securing Giddey’s future will be a big part of the Bulls’ offseason plans. He’s the star they need to build around. Furthermore, he’s the one who will ensure that Chicago will be an exciting team to watch. If that means slightly overpaying to keep him out of free agency, then so be it.
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