Josh Giddey's contract 'stalemate' explained

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Australian star guard Josh Giddey is yet to sign a contract with the Chicago Bulls — or another NBA suitor — with training camp just six weeks away.

Giddey, 22, is a restricted free agent and has been pushing for a $30 million per season five-year contract but negotiations have reportedly been in a stalemate as the two sides manoeuvre for the best deal for themselves.

Josh Giddey contract situation explained

• Josh Giddey is a restricted free agent. This means he can negotiate with any team in the NBA for the best contract he can secure for himself.
• The Chicago Bulls then have the option to match that deal and Giddey remains a Bulls player.
• But a vast majority of NBA teams don't have the salary cap space to accommodate Giddey's salary expectations, which means his ability to drive the outcome is diminished.
• This allows Chicago to present a "team friendly" deal to Giddey ... code for less money given the lack of market demand.
• Giddey's primary negotiating tool is to play for his $11.1M (USD) qualifying offer and then become an unrestricted free agent in 2025-26, which means he can negotiate with any NBA team for the best deal.
• But playing for the qualifying offer means Giddey is "betting on himself" — deliver an All-Star calibre season in 2025-26 and then hit the open market.

In the meantime, Giddey was reportedly in Las Vegas during the 2025 Summer League and met with Bulls head coach Billy Donovan. Bulls executives were expected to meet Giddey's agent during the week.

Giddey was traded by the Oklahoma City Thunder to the Chicago Bulls before the start of the 2024-25 season and it took time to find his feet. He was exceptional after the 2025 NBA All-Star break, posting All-Star numbers and hit a famous half-court buzzer beater against LeBron James and the Los Angeles Lakers.

Despite the stalled contract negotiations Giddey is still grinding, especially on the offensive side of the ball.

"Shooting," Giddey told Tom Mitchell on his podcast — Ball Magnets.

"That improved this year but needs another level. Getting stronger, faster, more athletic, better ball handling — so much to work on.

"But I’ve got good trainers: Jay Law, Phil Handy, Tony TV, and Pop, who I work with daily."

At just 22, Giddey is already tied with first-ballot Hall of Famer Kevin Durant for the most triple doubles in NBA history. He was 18 in 280 career games.

"I don’t go into games chasing them — just the way I play: rebounding; passing; scoring," Giddey admitted.

"They happen naturally."

The Melbourne-born Australian Boomer had high praise for his Olympic teammate Dyson Daniels, who was awarded the 2024-25 NBA Most Improved Player but not the Defensive Player of the Year Award after a historic season for steals and blocks.

"Maybe I’m biased, but what he did with his steals and deflections this year was by far and away the most ever," Giddey declared.

"I think he should have won it. He caused a lot of problems for the guys he guarded. Statistically, that backs it up.

"So I think he should have won it, but he was rightfully deserved with Most Improved as well.

"He led the deflection count by two or three hundred more than the next best player in the league.

"So he was miles ahead. I think he kept the Hawks' defense afloat, because without him, their defensive rating could have been a lot lower.

"It’s turned into a big man's award, Defensive Player of the Year. Marcus Smart was the last guard to win it, and before that, it was like 20 years since a guard had won.

"Mobley, Draymond, Wemby — these guys are elite defenders too, so it doesn’t discredit them. But what Dyson did on that side of the ball was historic.

"He should have won it, but Mobley and Draymond were rightful contenders."

Giddey said Daniels improvement was opportunity, not necessarily his actual game.

"I don’t even know if he improved that much — it’s just opportunity," Giddey said.

"He’s always been that type of guy, an elite defender. This year, he got the chance to finally show it on a global stage.

"Offensively, that just comes naturally. He’s a very good connecting piece, especially playing with Trey, who’s an elite passer.

"Dyson improved his three-point shot, got to the foul line more — everything improved. Some of that is obviously summer work, but a lot of it is just opportunity."

And Giddey should know. He and Daniels workout one-on-one during the off-season.

"They're fun, competitive, and pretty even," Giddey admitted.

"For me, there’s no better guy to go against than the best perimeter defender in the world. It’s great practice — a great sparring partner. We’ve trained together for the last four summers, spent a lot of time in the gym together. There’s no better guy to go against than Dyson."

In the meantime, Giddey and the Bulls are still negotiating his new contract. Insiders are expecting the two sides to come together, it's only a matter of when ... and how much.