Bulls, Josh Giddey Nearing New Contract Agreement

The Chicago Bulls and guard Josh Giddey are close to finalizing a new contract following lengthy negotiations, with a deal expected by the end of August. Giddey, who joined the Bulls in a trade for Alex Caruso, saw his initial five-year, $150 million demand decrease to a likely three-year deal worth $65–70 million. This proposed contract is less than the $30 million annually sought by fellow restricted free agents Jonathan Kuminga and Cam Thomas, reflecting a cautious market for such players. Despite questions about his defensive abilities and the context of his production, Giddey's passing and offensive impact are seen as key assets for the rebuilding Bulls, who are focused on developing young players like Matas Buzelis and Noa Essengue. Finalizing Giddey's contract is expected to provide stability amid a turbulent restricted free agency period. Both sides are reportedly optimistic about reaching an agreement that supports the Bulls' youth-oriented strategy.