The Chicago Bulls’ front office has reportedly offered Josh Giddey a four-year, $88 million contract extension, but even that hefty number falls short of what the Australian guard is seeking. Giddey’s camp is eyeing closer to $30 million per year, putting the Bulls in an uncomfortable spot.
Imagine if a bigger deal is finally finalized, either giving in to a near-max demand or risking alienating one of their most important young players. And make no mistake, whichever way this plays out, it feels like a gamble that could define the franchise’s immediate future.
Giddey’s production last season was undeniably strong. After being traded from the Oklahoma City Thunder, he averaged 14.6 points, 8.1 rebounds, and 7.2 assists with Chicago. Those numbers don’t just reflect solid play; they highlight a player capable of filling the box score every night. In fact, after the All-Star break, he turned it up another level, closing out last season strong with 21.2 points, 10.7 rebounds and 9.3 assists per game over his final 19 starts. He even joined LeBron James and Nikola Jokic to record at least 1,000 points, 500 rebounds and 500 assists in a season. At 22, everything around him on the court shows promise.
But the question remains: does that make him worth $30 million annually? The weaknesses are still there. His jump shot remains streaky, and while his size and vision make him a matchup headache on offense, his defense isn’t always reliable. Paying near-star money to a player who hasn’t consistently shown star impact is a dangerous gamble—especially for a franchise already short on financial flexibility.
If Chicago were to meet Giddey’s demands, the consequences would ripple through the organization. A richer deal could lock the Bulls into a salary cap crunch, limiting their ability to build a balanced roster around him and Coby White. With Nikola Vucevic’s uncertain future and no major roster additions this offseason outside of rookie Noa Essengue and Isaac Okoro, the Bulls simply don’t have the margin for error. Overpaying for Giddey now could mean more years stuck in their existing NBA destiny: good enough to compete for the play-in, not good enough to contend further.
And yet, there’s another layer to this gamble. Bulls fans have long criticized the front office for its inability to pull off meaningful moves. Years of mediocrity—no deep playoff runs, no headline-grabbing acquisitions—have left the fanbase restless. Committing big money to Giddey would signal a belief that he can be the player who finally lifts the Bulls out of the mud. But that comes with enormous pressure. For Giddey, the contract would not only cement him as the face of the franchise but also tie his name to Chicago’s long-time frustrations.
This gamble, then, isn’t just on the books. It’s on the court, in the locker room, and in the stands. If Giddey lands the contract he wants, the pressure is squarely on him to elevate his game and lead the Bulls toward playoff contention. If he takes less, he eases the financial strain but still leaves the front office with work to do—adding real support pieces so Billy Donovan isn’t coaching a half-built roster. Either way, this decision will shape the Bulls’ trajectory for years.
The Giddey extension talks are about more than money. They’re about whether the Bulls are willing to gamble on promise over proof, and whether Giddey can reward that gamble by finally taking Chicago somewhere it hasn’t been in far too long.