In a new report from Joe Cowley of the Chicago Sun-Times, he shared that the Bulls and Giddey are $10 million apart on a new deal. Giddey is searching for a contract in the $30 million per year range, while Chicago is motivated to keep that deal closer to $20 million per season.

While the sides remain stuck in the sand on the terms for a contract extension for the restricted free agent, it's not even August yet in what is being called "a negotiation."

Giddey has the option to bet on himself by accepting his $11.1 million qualifying offer, playing out the 2025-26 campaign before hitting unrestricted free agency next summer. However, that route would leave Chicago at risk of losing the 6-foot-8 guard for nothing after acquiring him in exchange for Alex Caruso in June 2024.

While Chicago Bulls restricted free agent Josh Giddey continues to wait for a new contract, a majority of NBA executives polled by The Athletic's Fred Katz and Joel Lorenzi believe he should be headed for a healthy payday.

Josh Giddey hasn't received much attention this offseason, and that should probably give the Bulls some pause.

Chicago continues to negotiate on terms of a possible new deal with restricted free agent Josh Giddey, while NBA rivals weigh in.

The Chicago Bulls executive recently discussed Josh Giddey's importance to the roster and why he hopes a deal gets done soon

Josh Giddey largely played well during his first season with the Chicago Bulls, but the restricted free agent and Eastern Conference team reportedly "remain far apart" in discussions about his future.

The Chicago Bulls and Josh Giddey are about to enter August without a new contract, largely because they can’t agree on what the price should be. Giddey reportedly wants $30 million yearly or more, and the Bulls want to stay closer to $20 million.