The Chicago Bulls know the situation. The restricted free agent market is soft. There just isn't a long list of NBA teams with the cap space to make significant offers to Josh Giddey on a new contract. As a result, the Bulls are wisely playing hardball, trying to secure the ascending point guard on a team-friendly deal. Thus far, Giddey hasn't backed down from the number he wants. In these situations, a standoff becomes inevitable. What many people worry about is whether or not the talks become so contentious that they stop altogether.
K.C. Johnson stated this week that the two sides remain in constant contact. Each wants to get a deal done. The challenge is finding a number and contract structure with which they can both be happy. They aren't there yet. Johnson did provide a word of caution, though. There is still a scenario where Giddey and his agent become frustrated enough to simply accept the Bulls' $11 million qualifying offer. While that would lock the point guard in for another year in Chicago, it would also guarantee he becomes a free agent in 2026.
Josh Giddey is the one who will decide the direction.
Every indication is the two sides are a couple million apart. The Bulls likely want something in the $25-28 million per year range. Josh Giddey wants $30 million. As of now, this situation could drag all the way to October 1st. That is when the qualifying offer deadline expires. If Giddey does nothing, he will remain a restricted free agent for the entirety of the 2025-2026 season, meaning he either reaches an agreement with the Bulls or sits the entire year. The latter seems highly unlikely. Giddey seems more likely to slow-play this, hoping the organization gets nervous and pushes an offer that is closer to what he wants. The Bulls have the leverage, though. They are free to wait this out as long as necessary without fear of another team sniping their guy. It's about who blinks first.
