The Chicago Bulls and restricted free agent Josh Giddey remain locked in contract negotiations, with a new report shedding light on where talks stand. According to ESPN’s Tim Bontemps on The Hoop Collective podcast, the two sides are discussing a deal that could land in the $20–25 million annual range — but that figure remains unsettled.
Bontemps noted he would “be surprised” if a contract isn’t eventually finalized, but the primary question is whether Giddey’s camp accepts a figure closer to the Bulls’ reported range or continues pushing for a higher number. His colleague Tim MacMahon added that the dollar gap is currently the sticking point.
Giddey, 22, is coming off a strong first season in Chicago after arriving from Oklahoma City in the Alex Caruso trade. The Australian guard averaged 14.6 points, 8.1 rebounds, and 7.2 assists while shooting nearly 47% from the field and just under 38% from three-point range. He also joined franchise legends Michael Jordan and Scottie Pippen as one of just three Bulls ever to tally at least 1,000 points, 500 rebounds, and 500 assists in a single season.
Despite those accomplishments, the Bulls have yet to entertain Giddey’s reported desire for a $30 million annual contract. Team insider K.C. Johnson recently reported that Chicago has not offered — or even discussed — a deal at that level.
Adding to the uncertainty, Giddey has been notably absent from the Bulls’ Summer League games in Las Vegas. NBA reporter Jake Fischer pointed out that while other veterans have been present, Giddey’s absence “seems like an indication” that negotiations are not progressing smoothly.
Last month, Chicago extended an $11.14 million qualifying offer to Giddey, ensuring they retain the right to match any competing offers. No rival offer sheets or sign-and-trade scenarios have emerged, leaving the Bulls negotiating only with his representatives for now.
While there’s still a gap to close, league sources remain optimistic a resolution will be reached before training camp. The Bulls reportedly prefer to secure Giddey at a number closer to the $20–25 million range rather than risk a lengthy standoff or see him test the market next summer.
