Identifying Josh Giddey’s Extension Number Won’t Be Easy

The Chicago Bulls and Josh Giddey are currently discussing a rookie extension , which would kick in next summer, right after the conclusion of his original four-year rookie contract.

Giddey was traded by the Oklahoma City Thunder to the Bulls, over the summer, for Alex Caruso which was broadly viewed as a steal by the Thunder, given that they did not relinquish draft compensation to align value.

Giddey, who is 22, is a complicated player, which could make any negotiation difficult. Over the course of three seasons, the 6'8 playmaker has proven himself highly capable as both a rebounder (7.3) and playmaker (5.7 assists), but struggled mightily as a shooter (31% from three), defender, and in getting to the line, with only 348 total attempts for his career.

In many ways, Giddey represents the exact opposite of where the NBA is leaning. Look no further than the reigning champions from Boston, a team that won the title through elite three-point shooting and elite defense.

Giddey will stuff the stat sheet, and there is value in players being multifaceted, but it seems curious that the Bulls would engage in extension talks, not knowing if his shot comes around.

So, what is a fair price for Giddey?

It's exceedingly difficult to set a firm price given how all-over-the-place the Australian's game is.

Players in possession of strong court vision, which Giddey has, are rare which could bump up his price. The fact that he's rebounding the ball at a high rate will only add to the cost.

Where the Bulls can push back, and negotiate a better rate for themselves, is by pointing to the fact that Giddey's court vision is compromised by the fact that he isn't much of a quality shot-creator for himself, and lacks the athleticism to influence the game defensively.

Over his career, Giddey has sported efficiency numbers below league average, high turnover rates, and has routinely been targeted defensively, which was apparent in the playoffs last season.

At 22, Giddey has time on his side, and will seek to be paid off potential. Presumably, that ask is above $20 million per year, and perhaps a good chunk more than that.

For the Bulls, it makes sense to offer something in the range of what Patrick Williams ultimately received, which was a contract worth $90 million over five seasons, at a flat $18 million salary annually.

Would Giddey go for that? Probably not, but the Bulls don't stand to lose anything with such an offer.

Chicago can simply let Giddey enter restricted free agency in 2025, and allow him to set his own market. If he's become significantly better during that time, they'll presumably be ready to match most offer sheets. And if he's much the same player as he is now, they can squeeze him financially.

An extension for Chicago would have to be beneficial to them, as there is no immediate need to get that contract out of the way, especially as Giddey's fit with the Bulls is at best questionable.