Bulls reportedly have four-year, $88 million offer on table for Josh Giddey, still well below what he seeks

Chicago’s stumbling point is simple: Just more than a year ago, the Bulls gave an unproven Patrick Williams a five-year, $90 million contract ($18 million a season), based on his potential (the front office really believes in him). So what is a proven scorer and shot creator like Josh Giddey worth to them?

About $22 million a year, ESPN’s Bobby Marks reports.

“When you dig around the Josh Giddey situation, who had a terrific year, certainly the last 25 games, he was offered four years, $80 million when free agency started, that number has gone up to four years, $88 million. That number is at the bottom of the starting point guards here. So, if you’re the Bulls and you just committed five years, $90 million to Patrick Williams based on a lesser body of work, now you’re all of a sudden drawing a line in the sand as far as where you are with Josh Giddey here.”

The $22 million a year average is well below the closer to $30 million a season Giddey is reportedly looking to make. Giddey has yet to accept the Bulls’ offer, with an Oct. 1 deadline looming in the distance for him to pick up the one-year, $11.1 million qualifying offer, play out this season in Chicago, and become a free agent next summer (the path Brooklyn’s Cam Thomas has already taken).

Giddey believes he should be paid in the Derrick White and Tyler Herro range of around $30 million a season. His case is based on how he played after the All-Star break last season, when he averaged 21.2 points, 10.7 rebounds and 9.3 assists a game for a Bulls team that went 17-10 in that stretch. The Bulls may not be as convinced by that stretch of play, and in the bigger picture, they are trying to clean up their books and gain flexibility. While Giddey knows how to run their offense, he is not a great defender and needs to show his hot shooting from 3-point range after the All-Star break last season (45.7%) was not a fluke (he is a career 33% shooter from deep).

The other question Giddey and his representatives need to ask themselves: Will the money he wants be available next summer? While there are expected to be up to 10 NBA teams with considerable cap space, are they going to want to spend a lot of that on Giddey? His perception in league circles is that of a good player but not a contending team franchise cornerstone, more of an 82-game player than a 16-game player. If Giddey were to take the qualifying offer, he would have a season to prove his doubters wrong with his play.

Most likely, both Giddey and the Bulls will compromise as we get closer to training camp. Neither side wants to go the qualifying offer route, but the Bulls have all the leverage in these talks while Giddey just has the one card to play. The closer we get to Oct. 1 without a deal, the more realistic that option becomes.