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Josh Giddey, Chicago Bulls

Josh Giddey‘s future with the Chicago Bulls is becoming a growing discussion point. The playmaking guard is yet to agree on terms for a new contract with the franchise.

However, given the limited cap space around the NBA, there doesn’t appear to be any potential suitors to rival Chicago. During a July 9 episode of “The Fast Break” via Chicago Sports Network, Bulls’ insider K.C. Johnson admitted the only way for Giddey to leave the Bulls this summer would be via sign-and-trade.

However, Johnson reiterated that both Giddey and the Bulls want to get a deal done for him to remain with the franchise.

“We’ve all documented that the Brooklyn Nets were the only team with significant salary cap space to sign Josh Giddey to a massive offer sheet,” Johnson said. “That space dried up with their trade acquisition of Michael Porter Jr. from the Denver Nuggets. So Josh Giddey has nowhere to go—unless there’s a sign-and-trade.”

Johnson continued.

“As of today, I’ve not heard of any sign-and-trade machinations involving Josh Giddey. That’s not to say one couldn’t materialize down the road, but I’ll emphasize—as I’ve said ad nauseam—both the Bulls and Giddey want to get a deal done.”

Giddey has proven himself to be an important part of the Bulls’ rebuilding process. Keeping him around long-term makes sense for the franchise. However, the Bulls must make sure they’re getting fair value in their negotiaions. Therefore, they will likely be comfortable taking their time getting a deal over the line.

Giddey Unlikely to Get $30 Million

Giddey is reportedly seeking a $30 million per year deal on his next contract. Johnson has shared his skepticism that Giddey receives such a large payday this summer during the same episode.

“The Bulls and Giddey want to get a deal done,” Johnson said. “I don’t have particular numbers other than to say that Josh Giddey’s $30 million a year price tag that has been well-documented in media and out there since last fall when the rookie contract extension was discussed, has not ever crossed my radar. I have never heard the Bulls mention that number. So I would not expect Josh Giddey to sign a $30 million deal.”

With little-to-no competition for Giddey on the free agency market, the playmaking guard doesn’t have much barganing power. Therefore, an agreement feels the most likely outcome.

Bulls and Giddey Are Still Far Apart

In a July 3 report from ESPN’s Bobby Marks, it was revealed both Giddey and the Bulls are still far apart in their negotiations.

“Josh Giddey, I’m going to say, I said this on SportsCenter, in the last 10 years, we’ve had five players sign qualifying offers. And what the qualifying offer does is it’s a one-year contract, and then you become an unrestricted free agent next offseason. Because it’s a one-year contract, you have full authority on any trade. So you have veto power on trades. The problem is that if you approve a trade and you are traded to that team, you will lose your bird rights…I made a joke during our production meeting, that they’re about the Gulf of Mexico apart.”

We’re still in the early stages of the offseason. Therefore, both sides have plenty of time to find a middle ground that suits all parties involved. Still, Bulls fans will undoubtedly want the negotiations to end sooner rather than later. Only then can they begin getting excited for the season to come.

Adam Taylor is a basketball reporter covering the Boston Celtics and Phoenix Suns for Heavy. He has also written for CelticsBlog, USA Today, Yardbarker and FanSided. Adam has a bachelor’s degree in creative writing from Open University. More about Adam Taylor