Josh Giddey Reportedly Received Bulls Contract Offer Worth Around $20M Per Year

Restricted free agency has led to a slow-moving market for Josh Giddey, but the Chicago Bulls have reportedly extended him a lucrative contract offer.

Per K.C. Johnson of Chicago Sports Network, the Bulls have presented Giddey with a long-term contract believed to be worth around $20 million per season.

NBA insider Jake Fischer reported last week the total offer was for $80 million over four years, but Giddey has been holding out for a deal worth closer to $30 million annually.

According to Fischer, the Bulls have "been anchored" to their desire about keeping the offer around $20 million per season.

A deal in the range of $30 million annually would be on par with what two other young point guards signed for last offseason.

Immanuel Quickley was extended by the Toronto Raptors for $162.5 million over five years ($32.5 million per season). Jalen Suggs re-upped with the Orlando Magic on a five-year, $150.5 million deal ($30.1 million).

Giddey is one of eight remaining unsigned restricted free agents. He and Jonathan Kuminga are the two highest-profile players in that group, with both players in a standoff with their club about the value of their next contract.

The Bulls have plenty of room under the luxury tax to pay Giddey close to the $30 million he is seeking without going over. They are currently $38.6 million under the $187.9 tax line.

Acquired in a trade with the Oklahoma City Thunder last offseason, Giddey had a productive 2024-25 with the Bulls. The 22-year-old averaged 14.6 points on 46.5 percent shooting, 8.1 rebounds and 7.2 assists per game in 70 appearances.

The Bulls finished last season with a 39-43 record, losing to the Miami Heat in the play-in tournament. They have had just one winning season in the past eight years, with no playoff series wins since the 2014-15 campaign.