3x NBA Champion Explains Why the Bulls Are Reluctant to Give Josh Giddey $30 Million Per Year

The Chicago Bulls are in a tricky situation with restricted free agent Josh Giddey. The 22-year-old guard, who had a decent finish to the 2024–25 season, is reportedly seeking a contract worth $30 million annually. While his growth and potential are undeniable, the Bulls are moving with caution.

Three-time NBA champion and team broadcaster Stacey King laid out the reasons behind the organization’s hesitation. According to King, the Bulls hold all the leverage. Giddey is a restricted free agent, so Chicago has the right to match any offer he receives.

At present, only the Brooklyn Nets have the cap space to meet Giddey’s asking price. But there’s no indication that the Nets are interested. That allows the Bulls to take their time, knowing no external pressure is forcing their hand.

King pointed out that Chicago has already made one significant gamble in recent years, offering Patrick Williams a $90 million extension. “I think they learned their lesson last year with Patrick Williams. They were in the same situation… A restricted free agent, and they were bidding against themselves,” he said on Stacey King’s Gimme The Hot Sauce Podcast.

While King admits Williams is “close to turning a corner,” the Bulls are handling the Giddey situation more cautiously. They aren’t eager to make the same mistake by paying Giddey at the top of the market before he shows sustained production across a full season. That said, Giddey has leverage of his own.

King spoke about the possibility that Giddey could decline any long-term offer, accept what the Bulls present for one year, and hit unrestricted free agency in 2026. It’s a high-risk move similar to the path Jimmy Butler once took.

“He could do a Jimmy Butler. He could say, ‘I’ll take a one-year deal, the qualifying offer, and then I’m on the free agent market when all those teams next year will have money’,” added King.

If Giddey stays healthy and performs at an elite level again next season, he could command even more money when more teams have cap space to spend.

Giddey has a compelling case. He averaged 14.6 points, 8.1 rebounds, and 7.2 assists while playing 70 games last season. King believes the talent is there.

Giddey’s all-around skill set and high basketball IQ point toward future All-Star selections. But the Bulls want consistency before investing heavily in him.