Josh Giddey’s Big Ask: The Chicago Bulls star is seeking a massive extension worth over $30 million annually. Can he justify the price tag?

Bulls, Giddey Engaged in Contract Talks as Guard Seeks Suggs-Level Deal

The Chicago Bulls and restricted free agent guard Josh Giddey are reportedly deep in negotiations as the first week of NBA free agency unfolds. According to Joe Cowley of The Chicago Sun-Times, both sides are maintaining “good dialogue,” but Giddey’s camp remains firm in their pursuit of a lucrative contract extension—one that mirrors the five-year, $150 million deal Jalen Suggs landed with the Orlando Magic last fall.

Since last October, Giddey and his representatives have consistently targeted a $30 million annual salary, a figure that became a benchmark for many of 2024’s top rookie extension candidates. Both Suggs and Atlanta’s Jalen Johnson secured deals at that exact number, setting the market for emerging young stars.

Giddey certainly did his part to justify such an ask. After a somewhat inconsistent start adjusting to Chicago, the 22-year-old guard exploded in the second half of the season. Over his final 19 games, Giddey averaged a near triple-double: 21.2 points, 10.7 rebounds, 9.3 assists, and 1.5 steals per game, while shooting an impressive .500/.457/.809 split. The Bulls won 12 of those contests, with Giddey acting as a catalyst.

For the full season, Giddey posted career-best numbers across several categories, finishing with 14.6 points, 8.1 rebounds, 7.2 assists, and 1.2 steals per game on .465/.378/.781 shooting. His improved three-point percentage stood out as a highlight in his development.

Despite Giddey’s breakout campaign and his emergence as Chicago’s point guard of the future, the current NBA landscape presents challenges. With most teams strapped for cap space this summer, few—if any—franchises are realistically able to offer Giddey the $30 million per year he’s seeking. This reality gives the Bulls significant leverage, allowing their front office to negotiate patiently.

Chicago’s brass may also be cautious after last summer’s experience with Patrick Williams. The team inked Williams to a five-year, $90 million deal before free agency even opened, only to see the former lottery pick’s production dip in the first year of his new contract. The Bulls are determined not to repeat that mistake by overbidding against themselves.

As negotiations continue, all eyes are on whether Giddey and the Bulls can find common ground—or if the standoff will linger deeper into the offseason.