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.

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

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 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.

The Chicago Bulls find themselves in an interesting situation so far this offseason. To this point, former All-Star center Nikola Vucevic remains on the roster,