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Josh Giddey's contract talks with the Chicago Bulls is one of the longest ongoing standoffs of this offseason. Giddey, along with fellow restricted free agents Quentin Grimes and Jonathan Kuminga, wanted bigger deals this offseason. However, Bulls general manager Marc Everseley has not met the point guard's demands. However, it looks like a compromise has been reached.
While Giddey wanted a large deal, he and is agent could not find another team willing to give him a competitive offer. That, combined with the lack of cap space remaining around the league, stacked the odds against him. According to ClutchPoints NBA Insider Brett Siegel, both Giddey and the Bulls have agreed to end the standoff.
“Josh Giddey and the Chicago Bulls are expected to reach a resolution on a new contract, likely in the three-year range, by the end of August,” Siegel said. “The Bulls could increase their offer, but they have stood firm on keeping a new deal in the $20 million AAV range. The latest speculation from agents not involved in negotiations suggests something in the $65 million to $70 million range.”
Giddey's request is ambitious, as were the ones Kuminga and Grimes made. Their teams have the money to sign each player to long term deals. However, their unwillingness to do so has dragged out the process over months. In Giddey's case, though, the player can argue their importance to their team's future.
The Bulls traded for the Australian point guard last summer, giving the Oklahoma City Thunder Alex Caruso in exchange. Giddey did better during the second half of the regular season once he got comfortable as the team's lead ball handler. However, questions arose about whether or not the Bulls could trust his late season production.
One way or another, the standoff will end before the regular season begins. Neither side will walk away from the deal completely happy. However, it gives Giddey a couple of seasons to prove to Eversely that he is worthy of the large payday he wants.
