The Chicago Bulls announced on Tuesday that they have signed restricted free agent Josh Giddy to a four-year, fully guaranteed contract worth $100 million with no player or team options, according to ESPN's Shams Charania.

Before Giddy's contract extension, the two sides engaged in a two-month tug-of-war over salary. Giddy initially demanded a five-year, $150 million contract, while the Bulls insisted on keeping his annual salary around $20 million. The two sides ultimately compromised and officially finalized the current agreement.

The contract extension not only solidifies Giddy's position as the Bulls' core point guard, but also makes him one of Australia's highest-paid athletes. It is reported that Giddy's current annual salary is second only to his compatriot, F1 driver Oscar Piastri, who earns approximately $40 million a year.

The 22-year-old Giedy was the sixth pick in the 2021 first round and has career averages of 14.1 points, 7.5 rebounds and 6.1 assists per game. He was traded from the Thunder to the Bulls in a deal involving Alex Caruso last season. So far, he has played in 70 regular season games, averaging 14.6 points, 8.1 rebounds, 7.2 assists and 1.2 steals per game, shooting 46.5% from the field and 37.8% from three-point range.

With the contract extension finalized, Giddy will shoulder the responsibility of rebuilding the Bulls next season alongside young talents like Matas Buzelis, Noah Essenger, and Coby White. The Bulls' preseason game is scheduled to begin on October 7th, with the first game against the Cleveland Cavaliers.