Bulls, Giddey finally agree on new contract

This is a sure sign summer is over — when NBA teams finally get serious about contract negotiations.

The Bulls announced a new deal Tuesday for restricted free agent Josh Giddey, worth $100 million over four years, according to ESPN's Shams Charania.

In some ways, this deal shows the Bulls are willing to be negotiators. They went above market value to sign Patrick Williams, Nikola Vucevic and Zach LaVine in recent years, and all three contracts proved to be regrettable.

There was talk Giddey's camp was asking for $30 million per season, matching the deal Orlando gave guard Jalen Suggs. Giddey was the No. 6 overall pick in the 2021 NBA Draft by Oklahoma City, while Suggs went fifth.

Without any offer sheets available from other teams, Giddey's only other option was to sign a one-year qualifying offer worth $11.1 million and become an unrestricted free agent next year. That's why the Bulls could feel confident in holding the line.

The Bulls will open training camp in about three weeks hoping to build around a promising nucleus of Giddey, Coby White and Matas Buzelis. Giddey's numbers after the all-star break were certainly all-star worthy, averaging 21.2 points, 10.7 rebounds and 9.3 assists, while shooting 45% from 3-point range. The question is, can he keep that up for a full season?

Giddey's first year with the Bulls was uneven. Arriving from OKC in a trade for Alex Caruso, Giddey, 22, was subbed out for defensive reasons down the stretch of games early in the season. Then after LaVine was traded to Sacramento, he looked like a star with the lead role in the Bulls' offense.

The rest of the roster is loaded with players in the final year of contracts, who could be used in trades. That list includes White, Vucevic, Ayo Dosunmu, Kevin Huerter, Zach Collins, Jevon Carter, Dalen Terry and Julian Phillips.