The Chicago Bulls appear to have the advantage in retaining Josh Giddey during the 2024 offseason, as the Australian guard approaches restricted free agency following a breakout year in multiple areas—passing, rebounding, and shooting from long range.
While Giddey’s next contract remains uncertain, it’s widely expected he’ll command a significant payday.
NBA insider Jake Fischer addressed recent misinformation about Giddey’s contract demands, clarifying on May 28 via X:
“Saw some inaccurate aggregation about Josh Giddey,” he posted, referring to an earlier article. “Did not write anything about the AAV Giddey is pursuing. Starters in this current NBA market routinely seek north of $30M in AAV. The 5/120 figure was only mentioned as a low-end projection from league observers.”
Fischer’s report emphasized that the Bulls are optimistic about reaching a deal with Giddey, even as he navigates a restricted free agent market that may also feature players like Jonathan Kuminga (Warriors) and Quentin Grimes (76ers).
“Chicago’s Josh Giddey and Philadelphia’s Quentin Grimes are two more restricted free agents soon to face their own challenges in this marketplace,” Fischer wrote. “Sources say Philadelphia has ongoing confidence in its ability to re-sign Grimes… Same goes for the Bulls and Giddey agreeing to the five-year pact reportedly in the $120 million range.”
Bulls Face Major Decision with Giddey
Giddey is finishing up his four-year, $27.2 million rookie contract. As a restricted free agent, Chicago holds the right to match any offer sheet he signs—pending they extend a qualifying offer first.
Both sides seem inclined to continue the partnership, but financial considerations loom large. Even a conservative estimate would make Giddey’s new deal the second-richest in franchise history. He’s expected to seek a deal worth $30 million or more annually—negotiations reportedly stalled at this price point back in October 2024.
This past season, Giddey averaged 14.6 points, 8.1 rebounds, 7.2 assists, and 1.2 steals. After the All-Star break, he elevated his game further, posting 21.2 points, 10.7 rebounds, and 9.3 assists over 19 games while shooting an impressive .500 from the field, .457 from three, and .809 from the line.
Bulls Eye Giddey-Like Prospect in Draft
As uncertainty lingers around Giddey’s future in Chicago, the Bulls appear to be exploring a potential replacement in the upcoming 2025 NBA Draft. Reports indicate they are targeting BYU guard Egor Demin, a versatile, oversized playmaker with similarities to Giddey.
“The Bulls are zoning in on BYU’s Egor Demin,” wrote Joe Cowley of the Chicago Sun-Times on May 25. “They’re not alone. Demin — a suddenly hot name — could climb into the top 10.”
Demin averaged 10.6 points, 5.5 assists, and 3.9 rebounds during the 2024-25 season. Though his perimeter shooting (27.3%) remains a concern, he impressed scouts at the NBA Draft Combine in Chicago—giving the Bulls an up-close look at a potential future star.