As the summer winds down, so does NBA free agency, though the Chicago Bulls still have a big free agent available, Josh Giddey. The Bulls and Giddey appear far apart on a new contract, and neither Chicago nor Giddey seems ready to budge on their demands.
With other restricted free agents such as the Brooklyn Nets' Cam Johnson, the Golden State Warriors' Jonathan Kuminga, and the Philadelphia 76ers' Quentin Grimes all potentially taking the qualifying offer, Giddey could opt to do the same with the Bulls.
That will be risky considering that he has a better offer on the table among those players. Though if he were to take the qualifying offer, he could become an unrestricted free agent after next season and make even more.
The Bulls must meet Josh Giddey in the middle on a new contract
Giddey reportedly expects $30 million a season, which is admittedly a wild contract demand. Meanwhile, the Bulls have offered a 4-year, $80 million deal.
The obvious solution would be for the two sides to meet in the middle, with the Bulls offering a 4-year, $100 million deal, worth $25 million annually. That might give Bulls fans sticker shock, but it's actually a fairly reasonable deal, all things considered.
The salary cap for 2025-26 is set at $154.4 million, with that potential deal accounting for just 16.1% of the cap next season. That deal would look even better with the cap expected to jump at least 7% each year in the near future.
Haggling over a few million a season is usually smart from a team perspective, but they risk alienating Giddey. Giddey doesn't project to be a superstar by any means, so they might not be too concerned about doing so.
Giddey flashes untapped potential that the Bulls can't let get away
Still, over his final 31 games of last season, Giddey posted a ridiculous 18.9 points, 9.1 rebounds, and 7.9 assists. He also drilled 43.8% from three on 4.4 3-point attempts per game, quieting concerns about his lack of shooting.
A player averaging essentially 19-9-8 on 40-plus percent shooting over more than a third of a season deserves more opportunity to show what they can do. However, if they aren't careful, he, like the other restricted free agents, could gamble on himself.
Taking the qualifying offer would give Giddey a one-year deal with a no-trade clause and another chance to prove himself. Next summer will see several teams, such as the Brooklyn Nets, Los Angeles Lakers, and Washington Wizards, have at least $75 million in cap space each.
Any of those teams, or perhaps another team, could afford to pay him if the Bulls let it get to that point. They shouldn't and should meet Giddey in the middle, ending a drawn-out contract standoff.