The Chicago Bulls aren’t close in talks with Josh Giddey at all.
Earlier this offseason, it was reported that Giddey wants a contract that pays $30 million per year, in the ballpark of what the Orlando Magic gave Jalen Suggs.
The Chicago Bulls are in a stalemate
Per Joe Cowley of the Chicago Sun-Times, the two sides are in a “stalemate” with a few days to go before August.
“As a member of the Bulls’ organization recently pointed out in a text, ‘It’s a negotiation,'” Cowley wrote. “That’s why the Bulls and guard Josh Giddey are in a stalemate in contract-extension talks. The sides have remained active in discussions throughout the offseason. More important, there’s still a lot of time to get a deal done.”
The Bulls and Josh Giddey are 33% off
The Bulls and Giddey need plenty of time to sort the deal out, because there’s a near 33% disagreement on pay.
(Giddey) wants to get a deal done to stay in Chicago, and the Bulls want him as a foundation piece, especially after helping the Thunder to an NBA title by giving them guard Alex Caruso for Giddey last offseason,” Cowley wrote. “They are somewhere between $8 million to $10 million per year apart.”
A difference of approximately one-third of a contract won’t be easy to close. Even meeting in the middle at $25 million is a big deal to both parties.
Giddey has the leverage of signing his qualifying offer and playing the upcoming season for $11.1 million before heading to unrestricted free agency next year.
The only way that won’t happen is if Giddey and/or the Bulls feel strongly about a future together.
Given how owner Jerry Reinsdorf extended the contracts of head coach Billy Donovan and vice president of basketball operations Arturas Karnisovas after significant failures, Giddey might be the perfect piece to center the new cult around.
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