Talk of a strained dynamic is reportedly overblown when dissecting the Chicago Bulls and Josh Giddey’s ongoing contract negotiations, at least according to the Chicago Sun-Times’ Joe Cowley.
Cowley downplayed the panic, writing, “It’s not supposed to look harmonious. As a member of the Bulls’ organization recently pointed out in a text, ‘It’s a negotiation.’ That’s why the Bulls and guard Josh Giddey are in a stalemate in contract-extension talks. The sides have remained active in discussions throughout the offseason.”
Later on, Cowley professed Giddey’s desire to remain in Chicago and the Bulls’ intent to keep the passing extraordinaire around, penning, “He wants to get a deal done to stay in Chicago, and the Bulls want him as a foundation piece…”
Giddey and the Bulls remain far apart in ongoing negotations
Therefore, instead of discussing Giddey’s supposedly exorbitant asking price or Chicago’s stubbornness in said negotiations, we’ll pivot to a reasonable compromise between both parties. Although fair warning, it favors Giddey’s desires more than Chicago’s.
Of recent contracts to compare Giddey’s looming pact to, Orlando Magic’s Jalen Suggs’ five-year, $150 million deal has been prominently referenced. The Magic extended Giddey’s draft class-mate to the long-term pact following two injury-riddled campaigns and a breakout season, especially on the defensive end, in 2023-24. There’s a fairly easy argument to be made that Giddey is the better player.
Yet, as mentioned by NBA Insider Jake Fischer and most recently, Cowley, the Bulls and Giddey are $8-10 million apart in negotiations. Thus, a five-year, $100 or $110 million pact is on par with the Bulls’ going rate.
However, while expensive, $20 million per season is in the range of Alex Caruso, Dillon Brooks, DeAndre Hunter, and Kyle Kuzma’s salaries. It’s fair to say Caruso and even Brooks are more impactful than Giddey. Yet the Aussie is at least five years younger and not necessarily a specialist, as are each of the aforementioned players.
Jalen Green’s short-term contract is one to replicate
So, it’s evident that Giddey is more valuable, even if he hasn’t accomplished as much as a player like 31-year-old Caruso, whom he was traded for. A player’s contract that Giddey would surely appreciate being offered is 23-year-old Jalen Green’s.
As a refresher, the Houston Rockets extended Green on a three-year, $106 million contract with a player option in year three. Green’s contract started at $33.5 million, before topping out at $36.2 million, then slightly decreasing to $36 million in the final season. Of course, Green has since been traded in a deal that saw the Rockets acquire Kevin Durant from the Phoenix Suns.
While Green’s pact is roughly $10 million more than the Bulls’ preferred price, the length in this instance is the comprise between the two parties. Chicago, to an extent, preserves future salary cap space if Giddey doesn’t perform up to expectations. On the flip side, the 6-foot-8 playmaker hits the open market once again, this time as an unrestricted free agent, when the salary cap is either $173 or $181 million in 2028 or 2029, respectively.
If Giddey doesn’t parlay his torrid post-All-Star break improvement into next season and beyond, the Bulls will be equally capable of cutting ties, either after two seasons (asserting he signs another new, lesser contract, a la Fred Vanvleet) or letting him play out his contract before the salary cap spikes to nearly $200 million in 2030.
Conversely, if Giddey takes his game to an All-Star level, he’ll be given the option to opt out and re-sign a fresh, lucrative contract after two seasons. It’s surely a win-win for the 22-year-old, but also for the Bulls, as we’ve witnessed how difficult it is to trade players on long-term contracts (looking at you, Zach LaVine).
