Tip-off in the 2025-26 NBA season is two months away, but Josh Giddey remains without a contract and it still doesn’t seem like he is close to reaching an agreement with the Chicago Bulls.

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Instead, NBA insider Jake Fischer said in his latest update that the Giddey situation remains in a “holding pattern” with the two sides still far apart on the money.

It has been widely reported that Giddey’s camp is after an offer in the range of $30 million per year, while the Bulls are said to have a long-term offer worth around $20 million a season on the table.

“So there’s still a pretty significant gulf financially,” Bulls insider K.C. Johnson said on ‘The Fastbreak’.

“The difference in this restricted free agency situation from a prior one, that’s unlike the Lauri Markkanen situation, the Bulls have given no indications league-wide of being amenable to a sign-and-trade so that means even if a team at this point unforeseen swooped in to offer a sign-and-trade package the Bulls may very well not engage.

“If it’s a good offer obviously they would consider it but for the most part the Bulls traded Alex Caruso to acquire Josh Giddey, they like the way Josh Giddey played basketball for them.

“They’re just putting a price tag that is indicative of his market on the table. They want Josh Giddey in a Bulls jersey long-term. I still see this reaching a positive conclusion.”

Johnson’s reporting is consistent with that of Fischer, who reported on his latest Insider Notebook that the Bulls “remain adamant” that they will not entertain any sign-and-trade scenarios for Giddey.

Fischer reported there are some teams who have “interest” in Giddey, but that the Bulls have been sticking true to their word and are not engaging with them.

“Chicago doesn’t want to lose Josh Giddey at all,” said Fischer.

“They’ve been telling other teams, they’ve been telling agents since the combine, that they are not interested in having any discussion whatsoever with Josh Giddey. They value Josh Giddey. “They traded Alex Caruso straight up for Josh Giddey when they had offers from various teams over the years for multiple first-round picks for Alex Caruso. That’s how much they value Josh Giddey.

“They see him as a major focal point of their roster moving forward.”

Despite that, the Bulls haven’t shown any signs of moving up from their initial offer to Giddey and don’t have any real reason to unless the market shifts.

The only real leverage Giddey has, meanwhile, is to sign the $11.1 million qualifying offer before becoming an unrestricted free agent in 2025-26.

“That is his threat,” Fischer said.