The Chicago Bulls have extended a qualifying offer to guard Josh Giddey, officially making him a restricted free agent, according to the NBA transaction logs maintained by RealGM.
The qualifying offer, which is determined based on Giddey’s draft position, is a one-year contract valued at approximately $11.14 million.
While this offer functions primarily as a placeholder, it allows the Bulls and Giddey to continue negotiations on a longer-term deal. Alternatively, it permits Giddey to explore potential offer sheets from other NBA teams.
By issuing the qualifying offer, Chicago retains the right of first refusal, meaning the Bulls have the option to match any contract offer Giddey signs with another franchise.
Should Giddey decide to accept the qualifying offer, he would play the upcoming season on the one-year, $11.14 million deal, becoming an unrestricted free agent in 2026.
However, following a promising rookie season with Chicago, it is anticipated that Giddey will pursue a more lucrative multi-year contract during this offseason, making acceptance of the qualifying offer unlikely.
After being acquired from the Oklahoma City Thunder in a trade involving Alex Caruso last summer, Giddey experienced a slow start to his tenure with the Bulls.
Over his first 40 games, he averaged 11.4 points, 7.3 rebounds, and 6.7 assists per contest, shooting .439 from the field, .324 from three-point range, and .750 from the free-throw line.
Giddey’s performance improved markedly in the latter part of the season, especially after Chicago traded Zach LaVine to Sacramento at the trade deadline.
In the final 30 games, the 22-year-old took on increased offensive responsibilities, posting averages of 18.9 points, 9.1 rebounds, and 7.8 assists while shooting an efficient .490/.436/.799 from the field, beyond the arc, and the free-throw line, respectively.
When contract discussions took place last fall regarding a rookie scale extension, Giddey reportedly sought a deal worth around $30 million annually. His value is reflected in his ranking as the fifth-best free agent in this summer’s top 50 class.
In related restricted free agency news, Houston Rockets’ young center N’Faly Dante has also been issued a qualifying offer, according to RealGM. Dante’s offer is equivalent to a one-year, two-way contract.
Dante appeared in just four NBA games during his rookie season in 2024-25 but made a significant impact in the G League, where he averaged 16.5 points, 10.6 rebounds, and 2.2 blocks per game over 31 outings for the Rio Grande Valley Vipers, Houston’s affiliate in the NBA G League.
ICYMI: The Bulls officially made Josh Giddey a restricted free agent: https://t.co/wbDBbbuqEo
— Hoops Rumors (@HoopsRumors) June 27, 2025
