The Chicago Bulls remain in a contract standoff with restricted free agent Josh Giddey, who is reportedly seeking $30 million annually in a new long-term deal.
However, the Bulls hold considerable leverage, as few teams have the cap space to meet Giddey’s asking price. With training camp approaching, both sides will have to decide on the 22-year-old’s future sooner rather than later.
Joel Lorenzi of The Athletic recently offered his valuation of Giddey’s worth and urged both sides to consider a three-year agreement to further test the fit.
“For what he is and what he’ll mean for this next iteration of the Bulls, the $20-25 million range feels fair, especially as the cap is expected to increase,” Lorenzi wrote.
Lorenzi also suggested that the Bulls could surpass a team-friendly pact if it gets Giddey to compromise.
MORE: Bulls advised against caving to Josh Giddey's demands in restricted free agency
“Getting $23 million annually for three years would be a pretty team-friendly deal. If it ends up closer to $25 million, Chicago can swallow that,” he added.
A three-year deal would allow Giddey and the Bulls to further evaluate their partnership, as this looming contract decision is complicated by the fact that the 6-foot-8 point guard has only been in Chicago for one season. During that lone campaign, he averaged 14.6 points, along with career highs in rebounds (8.1), assists (7.2) and steals (1.2) across 30.2 minutes per game in 70 appearances. He also shot a career-best 37.8 percent from beyond the arc.
Giddey could still opt to accept his $11.1 million qualifying offer and test unrestricted free agency next season, which would likely make him more difficult to re-sign. The Bulls have the cap space to offer a substantial long-term deal now, though their cautious approach is understandable after committing $90 million over five years to Patrick Williams last June.
Giddey fits the team’s rebuilding effort and has showcased he can fill the stat sheet in a starting role. If he’s willing to meet the team in the middle, Chicago should seize the opportunity.
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