Josh Giddey’s talks with Chicago have stalled, with the Bulls offering four years at $80m — far below his $30m-per-season hopes. In a tight restricted free agency market, he may take the $11.1m qualifying offer and revisit free agency next summer.
Josh Giddey’s contract negotiations with the Chicago Bulls have taken another twist, with reports suggesting the team’s latest offer is well below the Australian guard’s expectations.
According to NBA insider Jake Fischer, Chicago has tabled a four-year deal worth up to $80 million— roughly $20 million per season. That figure is far short of the $30 million per season Giddey and his camp were hoping for when talks began.
With Giddey entering restricted free agency in a market with limited salary-cap space, the Bulls appear to be holding firm, knowing few rivals can compete financially.
If no agreement is reached, Giddey could opt to accept Chicago’s $11.1 million qualifying offer for the 2025–26 season, betting on himself to land a bigger payday in unrestricted free agency next summer. The deadline to accept is October 1.
Last week, Fischer reported that the Golden State Warriors had shown interest in a potential sign-and-trade involving Giddey and Jonathan Kuminga, who is embroiled in his own restricted free agency standoff.
However, Fischer tempered expectations:
“I’ve never heard that he does not want to be [in Chicago]… but he does want to be compensated to what he deems fair.”
NBA insider Brett Siegel dismissed the Warriors talk as “a means of Giddey’s side trying to increase the price one last time, rather than there being legitimate movement outside of Chicago.”
Possible outcomes
While the $80m offer is the most recent figure, league sources believe a final deal could land anywhere between $65 million over three years and $100 million over four years.
The sticking point may be Bulls owner Jerry Reinsdorf’s reluctance to pay the luxury tax — even though Chicago previously committed $90 million over five years to Patrick Williams, whose production has lagged.
This offseason’s tight cap situation has hurt several restricted free agents, including Cam Thomas (Brooklyn), Jonathan Kuminga (Golden State), and Quentin Grimes (Philadelphia). In a normal market, all four could have commanded $100m+ contracts.
Giddey averaged 21.2 points, 10.7 rebounds, and 9.3 assists in 19 post-All-Star break games for Chicago, shooting 45.7% from three. Yet his path to a lucrative deal remains complicated by the market’s current constraints.
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