The Chicago Bulls and Josh Giddey finally reached an agreement on a contract extension Tuesday as the guard signed a new four-year, $120 million deal. This deal has been in the works for the entire offseason, and Giddey ended up getting a nice pay day. Reports initially stated that Giddey was hoping to receive $30 million annually, and then it was noted that he might have to settle for $20M. Instead, Giddey got $25M, and Matas Buzelis is happy for his teammate.

Matas Buzelis took to Instagram shortly after the news broke as he wanted to celebrate Josh Giddey and his new deal. Buzelis reacted to the news with this photo:

Buzelis and Giddey are the future of the Bulls. Buzelis was taken in the first round of the 2024 NBA Draft, and he really came into his own during his rookie season last year. After starting on the bench, Buzelis ended up earning a spot in the starting lineup for the final stretch of the season.

Giddey has also only been in Chicago for one season. He was traded to the Bulls by the Oklahoma City Thunder prior to last season, and he emerged as one of the best players on the team after the All-Star break. Giddey’s play down the stretch is what earned him this big contract extension.

For a good chunk of the season, Giddey didn’t do anything special for the Bulls. He only averaged 12.2 points per game before the All-Star break. However, he averaged over 21 PPG after the All-Star break. Not only was Giddey performing well, but his play elevated the entire team. The Bulls played their best basketball down the stretch, and while it didn’t translate to postseason success, it was still good to see a glimpse of competitive basketball.

It is a bit of a risk for the Bulls to be shelling out this kind of money after just a couple of months of strong play, but it is clear that they believe in Josh Giddey. If he can consistently play like he did down the stretch with guys like Matas Buzelis continuing to develop, this Chicago team could be fun down the road.