Insiders report Chicago offered Josh Giddey a four-year, $88 million contract

At the start of this week, four players remained restricted free agents. That was until Brooklyn’s Cam Thomas signed a $6 million qualifying offer. Now, Josh Giddey, Jonathan Kuminga, and Quentin Grimes are unsigned. 

Late on Thursday evening, NBA insiders reported the Bulls have continued to try and sign Giddey. ESPN’s Bobby Marks said the team upped their offer this offseason. He noted the Bulls initially offered Josh Giddey a four-year, $80 million contract extension. That number is now four years, $88 million. Is that enough for Giddey to sign a long-term deal?

Chicago has increased their contract extension offer to restricted free agent Josh Giddey

Bulls Offering Josh Giddey $88M Over Four Years https://t.co/ZFvrJzmTQa

— RealGM (@RealGM) September 5, 2025

During the 2024 offseason, the Bulls and Thunder completed a player-for-player trade. Chicago acquired Josh Giddey and Oklahoma City, Alex Caruso. In 2024-25, Giddey played in 70 of 82 games for the Bulls and made 69 starts. He averaged 14.6 points per game along with a career-high 8.1 rebounds, 7.2 assists, and 1.2 steals per game. With the production he gave Chicago last season, Josh Giddey is seeking a long-term contract extension.

Sources have reported that he wants a deal worth $30+ million annually. However, the Bulls have not offered him that type of deal this offseason. As of Thursday, the largest contract Chicago offered Giddey was four years, $88 million. That’s slightly higher than the four-year, $80 million deal they initially offered. Josh Giddey has until October 1 to sign his $11.1 million qualifying offer for the 2025-26 season.

Per @BobbyMarks42 there are new numbers for Josh Giddey’s contract from the Bulls 🤯🤔

How do you feel about this offer, Bulls Nation? 👀🔴 pic.twitter.com/WJDv16eD99

— CHGO Bulls (@CHGO_Bulls) September 4, 2025

If Giddey signed the qualifying offer, he would have a no-trade clause next year. Additionally, he would be an unrestricted free agent to begin the 2026 offseason. NBA insider Bobby Marks said Chicago should invest in Guddey if they believe he is their PG of the future. This offseason, the Raptors gave Immanuel Quickley a deal worth $32.5 million annually. Giddey’s representation is of the belief that they can get a similar number for their client.

Bobby Marks noted that Chicago could offer Giddey a deal worth $26 to $28 million annually. He explained a four-year, $100-110 million deal is still worth value to the Bulls. At just under $54 million, Steph Curry will be the highest-paid PG in 2025-26. Josh Giddey could sign the one-year qualifying offer and bet on himself. That is what Brooklyn’s Cam Thomas is doing. We’ll wait and see if Josh Giddey and the Bulls reach a contract extension this offseason.