Bulls: Former Exec Delivers Ominous Take on Josh Giddey’s Potential Extension

Josh Giddey was the sole piece in the Chicago Bulls’ return from the Oklahoma City Thunder for Alex Caruso.

Giddey is in the final year of his rookie contract.

He said during his introductory press conference on June 25 that the trade to Chicago switched his mindset. That leaves the Bulls facing some uncertainty with restricted free agency on the horizon in 2025.

“After the Olympics, I thought they were just going to give him a blank check right off there,” ESPN’s Bobby Marks said on “The Lowe Post” podcast on September 9.“I think if there is a deal that gets done by the start of season, I think that the initial reaction will be that Chicago overpaid.”

Giddey led Australia in points and assists during the 2024 Paris Summer Olympics.

He also emerged as a leader. Giddey praised his teammates’ efforts and talent during his final on-court interview of the tournament on August 6.

“From one end it’d be like, ‘Hey, if we’re going to run the offense through Giddey, this is his first year, why don’t we see how it goes?’ Right? Let’s kind of use this year as a kind of a barometer as far as what his contract for next year as far as in the new deal,” Marks said.

“On the other end, if you’re Chicago you’re saying, ‘Hey, he had a really good Olympics. There was some really good periods there we traded Alex Caruso for him; there was certainly criticism there. He’s our guy going forward even if we have to overpay.’ Now, what does overpay mean? That’s the biggest thing.”

Insider: Bulls ‘Need’ to Sign Josh Giddey to ‘Solid Deal’

Marks, a former executive with the Brooklyn Nets from 1995 to 2015, floated a $25 million annual salary. But he admitted that he was unsure of what the number would be. Giddey is eligible to sign a rookie scale extension.

“In order for this trade to make sense at all, Chicago needs to get Giddey signed to a solid deal,” Spotrac’s Keith Smith wrote on June 20. “Something in the range of four years and $90 to $100 million (possibly with some incentives around three-point shooting) probably makes sense. That might seem pricey, but remember where the cap is headed. $22 to $25 million will be less than 17% of the cap.”

Smith argues that Giddey’s “all-around” abilities make him worthy of an investment like that.

“He’s the more intriguing one out of any of these [extension eligible] guys,” Marks said. “Because you don’t trade for him unless … your offense is going to run through him.”

Giddey’s addition and the Bulls’ offseason pivot have also impacted the latter’s ability to tweak the roster in other ways. Show host Zach Lowe expects Giddey to put up numbers in 2024-25. Giddey averaged 12.3 points, 6.4 rebounds, and 4.8 assists in 2023-24.

Lowe is unsure of Giddey’s impact on the team.

“He’s gonna put up numbers this year, there’s no question about that,” Lowe said during the conversation with Marks. “He put up numbers in Oklahoma City, he’s going to put up numbers this season. He’s an interesting player because, yeah, he gets to be the engine of an offense now, right? He gets to be the No. 1 creator. The ball’s going to be in his hands. They’re going to have a decent amount of shooting around him.”

“This is the question I always come back to with some of these guys: if the only thing you can do well – and I don’t mean to minimize this but – is be the No. 1 ballhandler on an offense – and we don’t really have any evidence that Josh Giddey can do anything else well other than rebound.”

Giddey touted that aspect of his game during his introductory press conference.

He also noted that a shift away from that while with the Thunder led to his desire for a change of scenery.

“If that’s what you can do, great. It’s the hardest thing to do in the NBA,” Lowe said. “If you’re like – I’m just making this up as like a Josh Giddey projection – if you’re like the 11th-best guy at that in the NBA, where does that leave me as a team if you’re unable to transition into a secondary role when we get a guy who’s better than the 11th-best guy, which is ultimately what we’re going to need to be a great team?”

Josh Giddey’s Impact on Bulls’ Roster Construction

Lowe said it was “too early to pigeonhole” Giddey, who turns 22 years old in October. However, he noted the former No. 6 overall pick of the 2021 draft, Giddey, has also displayed poor three-point shooting and defensive issues as concerns.

Giddey said during that intro presser that he wanted to be a better defender and shooter. A 31% shooter from deep for his career, Giddey displayed improved efficiency during the Olympics.

He has continued to work on his shot during the offseason.

Giddey’s ability to play off ball could impact the Bulls ability to build the roster around him.

“I thought about the Bulls for Brandon Ingram. … The Bulls have lots of stuff they need to do with [Zach] LaVine and [Nikola] Vucevic – or need to try to do. And they need to see what Giddey looks like. Do I want to introduce another ball-dominant player after I just sort of gave Josh Giddey the keys?”

LaVine, Vucevic, Coby White, and Patrick Williams all thrive in off-ball roles. That sets Giddey and the Bulls up to maximize their partnership.