Chicago Bulls and Josh Giddey sit $10 million apart: Insider

Since the start of the NBA offseason, the one question surrounding the Chicago Bulls has been, Will they re-sign Josh Giddey and for how much? Giddey, by all accounts, is seeking a $30 million a year deal, similar to or in the same ballpark as Jalen Suggs of the Orlando Magic, who signed a five-year contract worth $150.5 million.

The Bulls can pay that amount and match any team willing to take a shot on Giddey, but would prefer to sign him to a deal that doesn’t break the bank. Still unsigned, it looks like the Bulls and Giddey are still a ways away, according to an NBA Insider.

NBA Insider still says the Chicago Bulls and Josh Giddey are $10 million apart

It seems like the Bulls and Giddey won’t agree on a contract anytime soon, but a new development has popped up, which shows how far apart the two sides are. According to NBA Insider Jake Fischer, the Bulls offered Giddey a four-year contract worth $80 million, which would pay him $20 million a year, $10 million off his asking price of $30 million.

“League sources say that the Bulls made an offer of $80 million over four years to restricted free agent Josh Giddey when the offseason commenced on June 30,” Fischer said. Giddey, of course, is seeking an annual salary in the $30 million range. Chicago has been anchored in the $20 million range in annual value ever since its original offer.”

Fischer also reports that other teams in the Eastern Conference have shown interest in Giddey, with some going as far as to contact his agent to gauge the interest of a sign-and-trade. Fischer does pour a little cold water on that, however, reporting that the Bulls have been uninterested in discussing that.

“Sources say Giddey has managed to attract some external interest from rival teams since free agency began, with multiple Eastern Conference teams contacting Giddey’s representation to register sign-and-trade interest,” Fischer said.

“Yet it’s likewise true that more than one rival front office has indicated a reluctance to try to engage the Bulls in sign-and-trade discussions, sources say, with Chicago having messaged for some time that it is not eager to discuss such scenarios,” Fischer added.”

The Bulls and Giddey need to meet in the middle

If the Bulls and Giddey are $10 million apart, and with some pressure from other teams, they need to meet in the middle and sign him to a contract that pays him $25 million as an annual salary. Giddey is one of the better up-and-coming players in the NBA, but he’s not at the level of someone like Suggs, given that he still struggles with turning the basketball over.

Averaging 2.9 turnovers a game last season and having the second-most turnovers for his career with 202, Giddey needs to show some improvement there to get paid top dollar. Hopefully, the Bulls and Giddey can reach an agreement soon and get to work with Matas Buzelis and Noa Essengue.