The Chicago Bulls have been stuck in waiting mode for the bulk of the free agency period since it opened on June 30, as, at the time of this writing, the franchise has signed two players, with only one of them being a guaranteed contract.
The reason for the Bulls' lack of action thus far in free agency is the ongoing contract dispute between the franchise and restricted free agent guard Josh Giddey, as the two sides remain at odds on an agreement on a new deal.
Now, Bulls fans are getting a clearer understanding of just what Giddey is demanding from Chicago's front office and why they, justifiably, are hesitant to make that type of commitment to the statsheet-stuffing guard.
Josh Giddey Holding Bulls Hostage With Unrealistic Contract Demands
The Bulls acquired Giddey from the Oklahoma City Thunder in a player-for-player swap involving Alex Caruso. Oklahoma City is thrilled with how the deal worked out, as Caruso played a major role in their run to an NBA championship this season.
Chicago, on the other hand, added a skilled guard in Giddey who can do a bit of everything on the basketball court. The addition, however, did not translate to winning as the Bulls finished dead last in the Central Division and was bounced from the Play-In Tournament by the Miami Heat in a game that was never really that close.
Bulls and Josh Giddey are having good dialogue, per a source, but the Giddey camp is dug in on the Suggs contract - $30 million per. Let the posturing continue.
— Joe Cowley (@JCowleyHoops) July 4, 2025
Now, Giddey is a restricted free agent and is demanding a contract that would net him $30 million annually. According to Joe Cawley of the Chicago Sun-Times, Giddy and his representation want his next deal to be in the mold of the five-year, $150.5 million contract Jalen Suggs received from the Orlando Magic in October 2024.
The biggest problem with that demand is that Suggs is an All-NBA level defender and Giddey is nowhere near as impactful on the defensive end of the floor. The Bulls are right to be hesitant to commit that much to a player who the defending champions gave up on and has the reputation of being, at best, underwhelming on one side of the ball.
This is an issue that could drag on well into July, as no team outside of Chicago seems interested in extending Giddey an offer sheet in that salary range.
Unfortunately for the Bulls, barring a move to bring in a player via free agency or through a trade, they have a need at point guard following the deal that sent Lonzo Ball to the Cleveland Cavaliers. Giddey and his representation seem to know that as well and are doing what they can to force Chicago's hand into offering the Australian guard the lucrative contract he covets.
Just how long Giddey will hold the Bulls hostage in these negotiations is anyone's guess but, as Cowley noted, both sides appear to be dug in and not willing to budge from what they believe is a fair market contract offer.