Bulls Confront Possible $30 Million Decision Regarding Key Acquisition
Chicago Bulls executive vice president of basketball operations, Artūras Karnišovas, observes during media day. The Bulls face a major decision regarding Josh Giddey.
Giddey is in the final year of his four-year, $27.2 million contract. The Bulls acquired him from the Oklahoma City Thunder in a one-for-one trade for Alex Caruso during the 2024 offseason. The former No. 6 overall pick in the 2021 draft will enter restricted free agency this summer.
It remains uncertain how much Chicago is willing to invest in keeping him. Negotiations stalled as Giddey seeks an annual salary of $30 million.
“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,” wrote Joe Cowley of the Chicago Sun-Times on February 25.
Assessing Giddey’s Value
“A 6-foot-8 point guard who rebounds, facilitates, shoots 52.2% from three over the past month, and is evolving defensively? Now ask yourself how much Giddey is worth,” Cowley continued.
“That answer is coming because Giddey’s right about one thing: Someone is going to pay him.”
Giddey Puts Bulls in a Tough Spot
Cowley’s report aligns with a previous claim from NBA insider Jake Fischer, who stated Giddey’s camp was using Toronto Raptors guard Immanuel Quickley’s contract as a reference point.
“Josh Giddey is said to be seeking at least $30 million in AAV in his next deal, sources said,” Fischer posted on Threads on October 19. “Although the Bulls appear more keen on evaluating Giddey through this first season in Chicago before committing that type of money to the Australian playmaker.”
After his performance against the Philadelphia 76ers on February 24, Giddey has averaged 25.3 points on 75.9% true shooting, along with 13.3 rebounds, 6.7 assists, 1.7 blocks, and 1.7 steals over his last three games.
The Bulls went 1-2 in those contests, securing a win over the Sixers but falling to the New York Knicks and Phoenix Suns.
Giddey recorded a positive plus-minus in each matchup.
This is significant, as he previously stated he wanted to improve defensively after joining Chicago. According to Cleaning The Glass, he still holds the fifth-worst defensive on-off differential on the Bulls.
However, his increased commitment could benefit him in contract talks if he maintains his intensity. Giddey is averaging 12.9 points, 7.4 rebounds, and 6.4 assists while shooting .457/.370/.785 this season.
His three-point percentage is a career best.
Lonzo Ball’s Extension Could Be a Good Sign
The Bulls’ decision to extend Lonzo Ball may indicate a willingness to invest in Giddey. Ball returned this season after last playing in January 2022.
Chicago signed Ball to a two-year, $20 million contract in early February.
Their situations differ, as Ball was injured in his first Bulls season and underwent three knee surgeries, including a ligament transplant with no prior successful professional comeback.
Ball is averaging 7.2 points, 3.4 rebounds, and 3.3 assists while shooting 33.9% from three. He was sidelined when his new deal was announced and has missed 25 games this season, some as a precaution.
Giddey, in contrast, has missed just four games in 58 appearances for the Bulls.