The Chicago Bulls have yet to find a breakthrough in their contract negotiations with Josh Giddey. The playmaking guard has reportedly remained steadfast in his desire to sign a $30 million per year contract.
When speaking to Keith Smith of Spotrac, an anonymous front office executive spoke glowingly of what Giddey brings to the roster. They also reiterated the team’s desire to get an agreement in place with the playmaking guard.
“We want to get a deal done with Josh,” The executive said. “He’s as important of a player as we have. We see him as a foundational player for us. I hope we can find a deal that makes sense for us and him and that we’ll be together for a long time.”
Giddey has just completed his first season with the Bulls. He played in 70 games for Billy Donovan’s team, averaging 14.6 points, 8.1 rebounds and 7.2 assists on 46.5% shooting from the field and 37.8% shooting from deep.
Chicago is in the early stages of a rebuild. Giddey projects to be a core part of the team’s future. However, the front office must find a middle ground with him in order to ensure he continues to be a leading part of Donovan’s rebuilding process in the coming years.
Bulls Expected to Resume Negotiations Soon
According to a July 21 report from ClutchPoints’ Brett Siegel, Giddey’s representatives and the Bulls front office are still working together to find a fair deal for both sides.
“No progress has been made between Josh Giddey and the Chicago Bulls on a new deal in restricted free agency, league sources said,” Siegel reported. “The two sides met at NBA Summer League in Las Vegas, where Giddey and his camp made it clear they want a contract similar to that of Jalen Suggs (5-year, $150 million) and Immanuel Quickley (5-year, $162 million) and have not come down from their $30 million annual average value asking price.”
Siegel’s report continued.
“The Bulls have not offered more than a four-year contract in the $20 million per year range. However, the two sides are expected to reunite and negotiate and find common ground on a new deal this summer. No team outside of Chicago has expressed legitimate interest in Giddey due to his contract demands.”
Unfortunately for Giddey and his camp, other teams have shown limited interest. As such, he doesn’t have much negotiating power outside of the threat he could pose by signing his qualifying offer. If he chooses to go down that route, he would then become an unrestricted free agent next summer.
Giddey’s Camp Standing Firm on Asking Price
According to a July 17 report from NBA Insider Jake Fischer, Giddey’s representatives “have not wavered” in their asking price of $30 million per season.
“Back to Giddey and the Bulls: Chicago’s front office has no shortage of experience when it comes to waiting out a restricted free agency market,” Fischer reported. “This time, Giddey’s representation has not wavered in its pursuit of a $30 million annual salary, sources say, while the Bulls’ offers have been much closer to $20 million.”
Sooner or later, either Giddey or Chicago will need to yield in their standoff. The most logical outcome is for the two sides to meet in the middle. That would mean giving Giddey a $25 million per year salary. He must realize that the lack of a free agency market means he has no leverage to try to force Chicago’s hand.
Bulls fans are undoubtedly hoping the two sides reach a deal soon, allowing the front office to finally shift its focus to the upcoming season.
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