The Chicago Bulls are deep in extension talks with restricted free agent Josh Giddey. So far, the only free agent they’ve agreed to a deal with is Tre Jones on a three-year, $24 million deal, capitalizing on his strong stretch to close the season. They’ve also traded Lonzo Ball to the Cleveland Cavaliers, clearing some extra guard minutes.

Giddey bounced back with the Bulls last season after a disappointing third season in Oklahoma City, leading to the Thunder trading him for Alex Caruso. The Bulls trading away Zach LaVine helped Giddey too, as he averaged 20.2 PPG, 9.5 RPG, and 8.1 APG from February 1st on, leading the Bulls on a strong close to end the season.Apr 6, 2025; Charlotte, North Carolina, USA; Chicago Bulls guard Josh Giddey (3) brings the ball upcourt against the Charlotte Hornets during the second half at Spectrum Center. Mandatory Credit: Nell Redmond-Imagn Images / Nell Redmond-Imagn Images

Joe Cowley of the Chicago Sun Times has reported that Giddey on his camp are still firm on wanting a deal in the $30 million average annual value range, with Cowley specifically stating they want a deal similar to what Jalen Suggs received with the Orlando Magic.

Suggs signed a five-year, $150 million deal that kicks in this season, and it’s on a descending scale. He’ll earn $35 million this year and then just $26,700,000 in the 2029-30 season. It may seem like a lot of money, but for a starting guard with elite defensive chops, it’s a solid deal.

Giddey is an entirely different kind of guard, capable of manipulating defenses with good ball-handling, passing, and an ever-evolving scoring ability. However, there is almost no leverage on Giddey’s side due to the lack of available money on the market.

The Bulls want to get a deal done, but Giddey has been searching for $30 million annually for a while, and no deal has been reached yet.