The Chicago Bulls and restricted free agent Josh Giddey remain separated by a significant gap in contract extension negotiations, according to NBA reporter Joe Cowley of The Chicago Sun-Times. As talks progress, the sides are reportedly $8 million to $10 million apart in annual salary expectations.
Giddey faces three main options as a restricted free agent: re-sign with the Bulls on a new agreement, play next season on his qualifying offer valued at $11.1 million, or sign an offer sheet with another NBA team. If he accepts an offer sheet elsewhere, Chicago holds the right to match it or potentially engage in a sign-and-trade deal. However, to date, neither Giddey nor the Bulls have been contacted regarding any sign-and-trade proposals.
Josh Giddey’s Recent Performance and Trade Background
Last season, Giddey posted averages of 14.6 points, 8.1 rebounds, 7.2 assists, 1.2 steals, and 0.6 blocks per game while shooting 46.5% from the field, 37.8% beyond the arc, and 78.1% from the free-throw line. He achieved 30 double-doubles and seven triple-doubles over 70 games.
Chicago acquired Giddey from the Oklahoma City Thunder in exchange for Alex Caruso. Caruso went on to win the 2025 championship with the Thunder against the Indiana Pacers in a seven-game series. Meanwhile, Giddey and the Bulls fell short of the playoffs after losing the 9-10 play-in game at home to the Miami Heat. Since trading Jimmy Butler to the Minnesota Timberwolves in the 2016 draft night trade, the Bulls have made the postseason only once, in 2022.
Future Prospects and Contract Expectations
Giddey, who will turn 23 in October, holds career averages of 14.1 points, 7.5 rebounds, 6.1 assists, 0.9 steals, and 0.5 blocks across his time with the Thunder and Bulls. His contract situation remains a pivotal topic, with the Bulls’ highest-paid player, Nikola Vučević, earning $21.5 million next season in the final year of his deal.
Reports indicate that Giddey is seeking a contract worth approximately $30 million annually, a figure that puts him well above the current top salary on the Bulls roster. This notable discrepancy contributes to the ongoing stalemate in negotiations, making it unclear when or if the two sides will reach an agreement.
They are somewhere between $8 million to $10 million per year apart,
—Joe Cowley, NBA Reporter
Implications for the Bulls and Giddey’s Career
The negotiation outcome holds significant implications for both the Bulls’ roster planning and Giddey’s career trajectory. If no extension is agreed upon, Giddey could play next season on his qualifying offer or explore opportunities with other teams through the offer sheet process. The possibility of a sign-and-trade remains open but currently inactive, as no teams have initiated discussions. The Bulls will need to balance financial commitments while aiming to strengthen their playoff contention after recent postseason challenges.