Bulls in limbo while Josh Giddey awaits payday

• ‍Josh Giddey's contract 'stalemate' explained‍
• Sign-and-trade for deal for Josh Giddey hits the skids‍
• 'Not happy, Josh': Josh Giddey scolded amid 2025 contract talks with Chicago Bulls‍
• Latest News: Read more about Aussies in the NBA here

"Purgatory" Chicago Bulls and Australian Josh Giddey still haven't agreed terms on his contract extension.

"I have not been able to identify the Bulls’ strategy," Brian Windhorst told ESPN Australia's Kane Pitman.

"They have been a team that has been stuck in the middle for years now.

"They’ve had one winning season in the last nine years. The last three years they have had 40, 39, and 39 wins. That is purgatory in the NBA. You’re not good enough to go anywhere, you’re not bad enough to get any significant help in the draft."

Australian Boomers point guard Giddey, 22, and the Bulls have been locked in a contract extension stalemate this off-season. Giddey's camp wants $30M USD per season, the Bulls $20M.

"I can’t identify the Bulls’ strategy with him either," Windhorst added.

"Because when they traded for him, you thought that he was going to be a core member going forward. Then they really didn’t seriously try to extend his contract last fall, which is what a lot of people thought they would do.

"Then the season started and his role was somewhat limited. He wasn’t getting the kind of minutes that was foreseen when that trade happened. Then, as the season went along and there were some injuries to some players — particularly to Lonzo Ball — then Josh got a lot more playing time. And then his numbers exploded, and he was exactly the player that everybody thought they were trading for.

"Then in the offseason, they traded Lonzo Ball, clearing the way for Josh to be more of the central ball-handler. But then, you know, they play tight in their negotiations. So you’re asking good questions, and I’m sure Josh is frustrated. And I’m sure the Bulls are looking for a deal. I don’t have strong answers for you, and that’s somewhat one of the reasons why the Bulls have been a very frustrating team for the last decade."

The challenge Giddey has is the 2025 market. There aren't teams with enough cap space to make him an offer the Bulls would need to match to keep him.

"It’s a stalemate, and I understand why," Windhorst said.

"It can be frustrating to understand — totally understand. This is probably the worst summer in the last decade to be a restricted free agent because there just isn’t salary cap space out there for teams to spend on restricted free agents. And the teams that did have salary cap space, primarily the Brooklyn Nets, were not in the mood to go after restricted free agents.

"So you really were not going to have strong leverage, and the Bulls have played it that way. They’ve made offers to Josh Giddey, but they’re less than he’s wanted. And the key is: 'Is Josh Giddey the long-term starter for the Bulls?' Do they see him as their starter? Because that’s how they played him last year. That’s how they played him at the end of the season when, over the last 15 games, he almost averaged a triple-double.

"And if that’s who you are — if you’re a full-time starter in the NBA — starting point guards are getting paid about $30 million a year.

"But the Bulls are not incentivised to give that deal to him. And the other thing is Josh has a qualifying offer that he can accept for around $12 million, and that is a long way from maybe what the Bulls are offering. But next year there’s potentially 10 to 15 teams with significant salary cap space. So if he were to accept that, that’s his leverage against the Bulls.

"And really, it’s just a matter of trying to stare each other down. We’ve seen this happen repeatedly with restricted free agents over the history of the NBA. And unfortunately, he’s fallen into that doughnut hole."

A resolution doesn't seem close as the Bulls try to work out how to take the next step in the almost constant rebuild.

"They have not gotten lucky in the draft lottery, and so they spin their wheels," Windhorst said.

"They have about $85 million in expiring contracts on this roster, which means they can either trade those guys for players or they could be a cap-space team themselves next year. But I can’t identify a through-line in what they’re doing.

"What I do know is they traded Alex Caruso — an extremely valuable player — for Josh Giddey. And they would not have done that if they didn’t see him as a viable part of their future. And so Josh Giddey knows that, and I think he wants to be compensated accordingly.

"And he might have to play the waiting game, potentially even into the summer of 2026."

About the Author

Peter Brown is the head coach of the Sydney Comets Women’s Youth League team in the Waratah Basketball League in NSW. He is also the assistant coach for the Comets NBL1 women’s team in the NBL East Conference. Peter is a 30-year journalist, starting as a sports reporter at the NT News in the early 1990s. He played junior basketball for the Northern Territory at national championships from U16 to U20 and for the Territory’s senior men’s team at numerous international tournaments. Peter has been a basketball fan since the early 80s, especially the NBA. Basketball is his passion — and his opinions his own. Email peter.brown@basketball.com.au with feedback. Any email feedback on articles sent to Peter can be published on basketball.com.au for others to read.