‘Doesn’t feel valued’: Sad twist in Josh Giddey saga

A report claims there has been a major development in Josh Giddey’s future on the back of his management playing the oldest trick in the book.

Josh Giddey’s new revised contract offer has reportedly dropped — and it’s not what the Aussie wanted to hear.

Giddey’s contract saga has taken another turn with a report on Tuesday claiming Chicago has come up with a four-year deal worth up to $80 million (A$120m).

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As first reported by NBA insider Jake Fischer, the offer of $20 million per-season is still well below what the Boomers point guard and his management team believe he is worth.

It was widely expected that Chicago would offer Giddey a contract extension worth $30 million (A$45 million) per season, but that is yet to happen.

The NBA franchise is holding all the aces in the negotiation process in a restricted free agency market where very few teams have dollars they are willing to spend.

As it stands, it looks increasingly likely Giddey may accept Chicago’s qualifying offer of $11.1 million (A$17m) for the 2025-26 season and bet on himself to outperform that value so he can command a more lucrative deal when he hits unrestricted free agency next summer.

Giddey has until October 1 to accept the qualifying offer.

With the Bulls essentially bidding against themselves to retain Giddey, the team appears to be holding firm and the revised $80m offer is still nowhere near the deal Giddey’s management believed was possible when the process began.

The latest move by team officials comes after reports last week suggested the Golden State Warriors were interested in signing Giddey.

Josh Giddey is holding his ground. Photo by Michael Reaves / GETTY IMAGES.

The seven-time NBA Championship-winning franchise is locked in its own messy restricted free agency saga with Jonathan Kuminga.

Fischer reported last week the Warriors were one of multiple teams that had expressed interest in Giddey in a scenario that would see both players accept sign-and-trade deals before switching teams.

“There’s enough friction in all these situations where Kuminga doesn’t feel valued enough by the Warriors. Giddey certainly doesn’t feel valued enough by the Bulls’ front office,” he said on the Chicago Bulls Podcast.

However, the reporter also clarified that the “love triangle” makes it unlikely Giddey will leave.

“I’ve never heard that he does not want to be there, so I would not think otherwise,” Fischer said.

“Number one though, he does want to be compensated to what he deems fair.”

Leading NBA reporter Brett Seigel was even more scornful about the prospect of Giddey leaving the Bulls, suggesting the point guard’s management team had played the oldest trick in the book.

“Rival agents all came to the same conclusion: this is a means of Giddey’s side trying to increase the price one last time, rather than there being legitimate movement on something outside of Chicago,” he wrote about Giddey’s links to the Warriors, per ClutchPoints.

It is far from over.

Fischer said this week it will likely come down to the October deadline before the Bulls and Giddey reach an agreement.

There has been widespread speculation about what the compromise will be.

According to Siegel, figures in the game believe the deal may end up being for as little as $65 million over three years. More optimistic forecasts have suggested the Bulls may go as high as $100 million over four years.

Bulls owner Jerry Reinsdorf has been notoriously stingy when it comes to avoiding paying the luxury tax, and now Chicago’s front office is holding out on giving Giddey a mega payday.
The Aussie has every right to feel hard done by at the moment, given Chicago previously paid Patrick Williams USD$90 million over five years, despite the draft bust showing very little promise during his NBA career so far.

Giddey averaged 21.2 points, 10.7 rebounds and 9.3 assists in 19 games for the Bulls after NBA All-Star break while shooting 45.7 per cent from 3-point range.

The standoff between Giddey and Chicago can be put down to the fact it is a very bad time to be a restricted free agent in the NBA this off-season, with very few teams having salary cap space.

Giddey, Brooklyn’s Cam Thomas, Golden State’s Jonathan Kuminga and Philadelphia’s Quentin Grimes could have earned deals worth in excess of $100 million in most other off-seasons.

5 former 1st rd. picks have signed a Qualifying Offer since 2018.

Their next contract outside of Miles Bridges has not been pretty:

Alex Len: 2/8.5M

Nerlens Noel: 2/3.7M

Rodney Hood: 2/11.7M

Denzel Valentine: 2/4.1M

Miles Bridges: 3/75M

— Bobby Marks (@BobbyMarks42) July 18, 2025

But a lack of cap space around the league this year and the NBA’s restrictive new collective bargaining agreement is making teams wary of shelling out big contracts on players who aren’t superstars.

YardBarker’s Nathan Shirberg said: “Essentially, the Bulls are negotiating against themselves, which incentivises them to not negotiate at all. As it stands, the Bulls should feel no pressure to give in.”

The Athletic’s Law Murray described the situation as “free agency hell, where Giddey is keeping the Bulls from doing anything except repeat their 2024 trade where they send a former Laker defender to a No. 1 seed in exchange for a lottery pick”.

Bulls insider K.J. Johnson said: “The Bulls hold all the power. Giddey is almost certainly going to be back on a qualifying offer or a long term deal.

“What I would be concerned about is what kind of mindset is Josh Giddey going to come into camp with after the negotiations dragging on that long and then him maybe not getting what he wanted.

“You want him coming into camp with a good feeling, pleased with his deal.”

Originally published as ‘Doesn’t feel valued’: Sad twist in Josh Giddey saga