The Chicago Bulls are currently gearing up for what could be a consequential offseason for the future direction of the franchise. For the first time in several years, it seems as though Chicago has a clear vision for their future, with young players like Josh Giddey, Coby White, and Matas Buzelis figuring to be key building blocks moving forward.

Much has been made about what kind of contract Giddey may be in store for this offseason, when he is set to hit free agency.

Recently, it was reported by The Stein Line's Jake Fischer that Giddey's upcoming contract is likely to be “no less than $120 million” for five years, which some saw as a bargain for a player who turned into a triple-double machine down the stretch of last season.

However, Marc Stein has since clarified that “A five-year deal in the $150 million range is indeed the most commonly projected ballpark for Chicago's restricted free agent-to-be Josh Giddey … similar to the deals signed by Orlando's Jalen Suggs and Atlanta's Jalen Johnson from Giddey's same draft class.”

Fischer also reported on X that “the 5/120 figure was only mentioned as a low-end projection from league observers.”

A big decision for the Bulls

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After a rough start to his first season with the Bulls, Josh Giddey started to come into his own down the stretch of the year, showcasing the potential that allowed him to be a lottery pick back in 2021.

Giddey's unique combination of size and playmaking, combined with an improved outside touch, helped the Bulls catch fire toward the end of the season, ultimately giving them a play-in game berth where they lost to the Miami Heat.

At just 22 years old, it's fair to project that Giddey will continue to get better over the next few years, with improvements to be made both with his outside shooting touch as well as his defense.

If those both come to fruition, even a $30 million per year contract could end up seeming team-friendly at some point in the future.