Breaking News: Chicago Bulls Standout Josh Giddey Speaks Out After Signing a Five-Year Deal wih………………
Chicago, IL— The Chicago Bulls have secured their future cornerstone, locking in 22-year-old guard Josh Giddey to a **five-year, $120 million contract**, sources confirmed today. The deal, finalized after weeks of intense negotiations, marks a pivotal moment for the franchise as it transitions into a new era post-DeMar DeRozan and Zach LaVine. Giddey, who emerged as a breakout star in the 2024-25 season, addressed the media with a mix of gratitude and determination.
The Contract Details
Giddey’s new deal aligns with earlier reports from NBA insiders Jake Fischer and Michael Scotto, who projected the Bulls would aim for a **$24–30 million annual average value (AAV)** to retain the restricted free agent . While Giddey’s camp initially sought a **$150 million pact** akin to Orlando’s Jalen Suggs, market conditions—including limited cap space league-wide and the Bulls’ leverage as his incumbent team—led to a compromise at the lower end of projections .
Key terms:
– **Total value**: $120 million over five years (through 2029-30).
-Annual salary**: ~$24 million, with potential incentives tied to All-Star appearances and playoff success.
– **Team control**: The Bulls retain matching rights, deterring rivals like the Brooklyn Nets, who were rumored to have **$55 million in cap space** and interest in poaching Giddey .
Giddey’s Statement: “This Is Where I Want to Be”
In a press conference at the Advocate Center, Giddey reflected on his journey from a mid-season trade acquisition to franchise centerpiece:
> *“Chicago took a chance on me, and I’ve felt at home here. The fans, my teammates—this is where I want to build something special. After the All-Star break, the coaching staff gave me the keys, and I’m ready to keep growing with this group.”*
His post-deadline surge—**20.0 PPG, 9.9 RPG, 8.5 APG, and 45.3% three-point shooting** after LaVine’s departure—cemented his case for the hefty payday . Giddey also acknowledged the Bulls’ front office for “believing in my vision” despite early extension hesitations .
Bulls’ Gamble Pays Off
Chicago’s decision to prioritize Giddey over past missteps (e.g., Patrick Williams’ **$90 million overpay**) signals a shift toward youth and upside. As Fischer noted, the Bulls avoided a “disastrous” overcommitment by leveraging a **soft free-agent market** and Giddey’s restricted status .
**Why this deal works for both sides**:
1. **Bulls’ perspective**: Secures a triple-double threat (14.6/8.1/7.2 in 2024-25) with elite playmaking and improved shooting (37.8% from three) .
2. **Giddey’s upside**: At 22, his post-All-Star stats (21.2/10.7/9.3) suggest All-NBA potential .
3. **Roster flexibility**: Leaves room to re-sign Coby White, whose own extension looms in 2026 .
League Reactions
– **Brooklyn Nets**: Had been monitoring Giddey as a “point guard of the future” but lacked leverage to outbid Chicago .
– **Analysts**: Praise the Bulls for avoiding a Suggs-level overpay while betting on Giddey’s trajectory. *“He’s a $30 million player in two years,”* tweeted ESPN’s Bobby Marks.