The Chicago Bulls have extended a qualifying offer to guard Josh Giddey, officially designating him as a restricted free agent, according to records of NBA transactions compiled by RealGM. This qualifying offer, valued at approximately $11.14 million for one year, allows the Bulls to retain the right of first refusal, enabling the team to match any competing contract offers Giddey might receive from other teams.
Details of Giddey’s Contract Status and Season Performance
This qualifying offer acts as a temporary contract while negotiations continue between Giddey and the Bulls or if Giddey explores proposals from different organizations. Should he choose, Giddey can accept the one-year deal, playing the next season under that contract and becoming an unrestricted free agent in 2026. However, given his strong performance in Chicago, a longer and more lucrative contract this summer seems the more probable outcome.
Since arriving in Chicago in a trade last summer that sent Alex Caruso to Oklahoma City, the 22-year-old faced a challenging start. During his first 40 games with the Bulls, Giddey averaged 11.4 points, 7.3 rebounds, and 6.7 assists per game, shooting 43.9 percent from the field, 32.4 percent from three, and 75.0 percent from the free throw line.
Giddey’s production improved significantly after the trade deadline, following Zach LaVine‘s move to Sacramento, as he assumed greater offensive responsibilities. Over the final 30 games of the season, Giddey’s averages rose to 18.9 points, 9.1 rebounds, and 7.8 assists per game, with an efficient shooting line of 49.0 percent from the field, 43.6 percent from beyond the arc, and 79.9 percent at the free-throw line.
Giddey’s Market Value and the Bulls’ Strategy Moving Forward
Previously, discussions between Giddey and the Bulls about a rookie scale extension saw the player seeking a $30 million annual salary. As the fifth-ranked player on the list of this summer’s top 50 free agents, Giddey is positioned to negotiate a substantial deal, reflecting his improved performance and potential. The Bulls’ qualifying offer ensures they maintain control over his contract status while exploring options.
Additional Restricted Free Agency Developments: Rockets’ N’Faly Dante
In other restricted free agency news, Houston Rockets big man N’Faly Dante has also been extended a qualifying offer, which corresponds to a one-year, two-way contract. Dante participated in just four NBA games during his rookie season in 2024/25 but displayed strong play in the NBA G League. Playing for the Rio Grande Valley Vipers, Houston’s G League affiliate, Dante averaged 16.5 points, 10.6 rebounds, and 2.2 blocks per game across 31 contests.
Implications for the Bulls and Giddey’s Future
By issuing this qualifying offer, the Bulls convey a cautious yet optimistic approach, aiming to secure Giddey’s services amid increasing demand. This move preserves the right to match any competing offers, keeping Giddey’s promising talent within Chicago’s reach. His development during the past season and increased scoring role suggest the Bulls view him as a foundational player in their roster moving forward.