Besides an unbeknownst forthcoming trade, the Chicago Bulls have only one remaining box to check on their offseason to-do list. Next to the proverbial box reads, “Re-sign Josh Giddey to a long-term contract, but don’t overpay.”

Chicago would of course love to retain Giddey. He’s still only 22 years old, somehow younger than 14 rookies. Moreover, the Bulls shipped out two-time All-NBA Defensive selection Alex Caruso to land the former sixth overall pick. Lastly, Giddey exceeded expectations upon arriving in Chicago, including a terrific post-All-Star break stretch.

Nevertheless, the Bulls are playing hardball with Giddey, something they didn’t do a season ago with Patrick Williams. Since the 6-foot-8 floor general is a restricted free agent, he has two options: sign a one-year, $11.1 million qualifying offer, or come to terms with the Bulls on a long-term agreement. The Bulls reportedly prefer the latter.

All signs point to Josh Giddey signing a long-term contract

Spotrac’s Keith Smith’s summer league exposé revealed several interesting tidbits, including a quote from a Bulls’ executive expounding upon Giddey’s restricted free agency.

A Chicago executive lamented, “We want to get a deal done with Josh. He’s as important of a player as we have. We see him as a foundational player for us. I hope we can find a deal that makes sense for us and him and that we’ll be together for a long time.”

Queue the collective sighs of relief. Although there’s nothing imminent, it’s reassuring to hear the Bulls’ brass are intent on signing the 22-year-old guard to a long-term pact. Giddey proved his worth in his lone season in the Windy City, and despite a resurgent second-half, it’s fair to say Giddey has yet to scrape his sky-high ceiling.

Hearing a Bulls’ executive’s preference to re-sign Giddey isn’t even the most notable part of the aforementioned four-sentence quote. Chicago wouldn’t have traded for the Australian guard if he weren’t a part of their future.

Proclaiming Giddey as an “important of a player as we have” and a “foundational player” is most noteworthy. Sure, a coach, executive, scout, video coordinator, trainer, etc., won’t ever be caught saying a player isn’t important, but declaring Giddey as foundational holds some weight.

If the rest of the Bulls’ Front Office feels this way, expect the 22-year-old to sign a long-term deal this summer. Even if it’s not for the $30 million annually he’s seeking, a five-year pact in the $130-140 million ballpark feels plausible.