According to well-known NBA reporter Brett Siegel, Josh Giddy and the Chicago Bulls are expected to reach an agreement on a contract extension this month. The two sides will sign a new three-year contract with an annual salary of approximately $20 million by the end of August at the latest.

Josh Giddy, 22, primarily plays shooting guard and was selected by the Oklahoma City Thunder with the sixth overall pick in the first round of the 2021 NBA Draft. He played three seasons with the Thunder, averaging 13.9 points, 7.3 rebounds, and 5.7 assists in 210 regular-season games, and also played with the team in the 2023 NBA Playoffs.

In June 2024, Giddy was traded from the Oklahoma City Thunder to the Chicago Bulls in exchange for Alex Caruso. To date, he has appeared in 70 regular season games for the Bulls, averaging 14.6 points, 8.1 rebounds, 7.2 assists, and 1.2 steals per game while shooting 46.5% from the field and 37.8% from three-point range.

After the 2024-25 season, Giddy officially became a restricted free agent. He and the Bulls both intended to reach a long-term cooperation, but the two sides were once deadlocked on the salary issue. Giddy's initial request for an annual contract of around $30 million was considered too high by the team.

The Bulls may now increase their offer moderately, but they have always insisted on keeping the annual salary of the new contract around $20 million. According to Brett Siegel, Jedi's new contract is likely to fall between three years and a total of $65 million and $70 million, which is close to the acceptable range for both parties.