While rumors abound that Josh Giddey has an offer on the table from the Chicago Bulls, the reality is that he remains a restricted free agent. That means the breakout star for the Bulls’ 2024-25 season could still potentially leave the franchise. The team doesn’t want that to happen. They also don’t want to pay Giddey what he thinks he’s worth.
For a team seemingly stuck in the rebuilding phase since Michael Jordan played his last game, this is a big deal. Fresh off a trade away from the Oklahoma City Thunder, Giddey finally seemed to find that next level fans had been waiting for him to reach. It was hard for the young Australian to shine on a team loaded with great players in OKC. The Bulls don’t have that problem.
Despite a great 2024-25 performance, Giddey may be setting himself and the Bulls up for failure in the long term. That depends, of course, on how free agency plays out for both parties. In the end, the dollar signs in Giddey’s eyes could cost him everything, and the Bulls might find themselves running back to the drawing board yet again.
Josh Giddey wants his bag from the Bulls, or elsewhere
Born in Melbourne, Giddey played his early days of basketball in Australia. He played one season in the NBL team with the Adelaide 36ers, where he became the youngest player in the league’s history to record a triple-double. Giddey declared for the NBA draft in 2021 and was scooped up by OKC, where he played for three seasons before being traded to the Bulls.
The young guard played well for the Thunder but wasn’t a standout. Keeping in mind he was on a team with SGA, Lu Dort, and a laundry list of stars, getting playing time was no small feat. The move to Chicago was good for him. He had possibly his best season in the league, seeing significant increases in 3-point shooting, assists, rebounds, and steals.
Giddey is a restricted free agent this off-season, meaning he can talk to any team about a contract but the Bulls retain the right to match that contract and keep him. Reportedly, he’s looking for approximately $30 million per year, possibly for three years. The Bulls most recent offer is hovering around $20 million per year for four years. Giddey and his team continue to explore their options.
Josh Giddey could screw over the Bulls
In reality, Giddey is overplaying his hand. No disrespect to his time with OKC, but this season with the Bulls was the first year he was actually relevant in the league. Giddey might want the bag, but questions remain if he’s actually earned it, which may be part of the reason the Bulls are unwilling to pony up the cash Giddey is looking for.
At this point, the Bulls are already over their salary cap. It’s not an insane amount in NBA terms, but they’re still over. Giving Giddey too much money could harm the team’s ability to effectively build a contender. Still, losing Giddey, either in free agency or to a sign-and-trade scenario, leaves the franchise without someone who could be a major part of their future plans.
While some teams have shown interest in Giddey, the Bulls are as reluctant to trade him as they are to give him $30 million a year. Additionally, he becomes a full free agent in 2026. The Bulls will need to make a decision now as to how badly they want to keep Giddey. If they wait too long, the decision will 100% belong to Giddey, and losing him to free agency with nothing to show for it is bad for the Bulls.
