Get your popcorn ready, but not for the NBA Playoffs, instead for the offseason. While the postseason has been as entertaining as ever thus far, the offseason always finds a way to bring about those “wow” moments. From the NBA Draft to free agency and an unofficial trade season, there’s plenty to be excited about.
The Chicago Bulls enter the offseason with little to no salary cap room (like most of the league). However, Chicago will have its non-tax midlevel ($14.1 million), biannual ($5.1 million), veterans’ minimum, and second-round pick exceptions to use.
Although the Bulls are projected to have around $20 million in practical salary cap space, the real figure is much lower due to Josh Giddey’s cap hold. For those unaware, a cap hold is a placeholder amount that a team is obligated to hold on their books for said free agent until the player either signs a new contract or the team renounces their rights. For instance, Giddey’s cap hold is $25.1 million, or 300 percent of his salary, because he’s a former first-round pick.
The Brooklyn Nets are the only team capable of prying Giddey away
Following an impressive campaign in which Giddey averaged 14.6 points, 8.1 rebounds, 7.2 assists, and 1.5 three-pointers per game while recording a career-high 57.0 true shooting percentage, the likelihood of Chicago renouncing his rights is slim to none. The only question to be asked is how much Giddey will command.
That question may be out of the Bulls’ control. Only one team has enough practical cap space to offer Giddey—the Brooklyn Nets. The Nets are projected to have $91 million in salary cap space, $67 million more than the next-most plentiful team. Brooklyn has merely two players with salaries north of $20 million, the rest will earn $4 million or less. However, it should be noted that Brooklyn’s salary cap space will be closer to $45 million.
The 2025 free agent crop is less than stellar. It’s littered with veterans who have yet to decline their player options. LeBron James, Kyrie Irving, and James Harden highlight the group. The three aforementioned players will undoubtedly re-sign with their respective teams. The only wildcards are Myles Turner, Naz Reid, Jonathan Kuminga, Nickeil Alexander-Walker, and Giddey.
Among the wildcard grouping, Kuminga and Giddey pose as Brooklyn targets. Both players fit the Nets’ timeline and are positions of need. The Nets will bring back starting center Nic Claxton, forward Cam Johnson, and (likely) shooting guard Cam Thomas. Brooklyn notably lacks a lead guard and a wing to complement Johnson. If you haven’t put two and two together, that’s Giddey and Kuminga.
With $45 million to spend, expect the Nets to throw a large sum, north of $30 million, at either 22-year-old. While it’s not given that the Nets throw any money at Giddey, Chicago must be patient and play the waiting game, a lesson learned from a season ago. The Patrick Williams $90 million debacle must not be rehashed.
When (if) Chicago plays it safe, a move can be made once the Nets make an offer for Giddey. If he’s not offered, the Bulls will have all the leverage to decide how long and how much they’ll pay their franchise point guard.
