With his most recent contract extension, Josh Giddey established that he is the Chicago Bulls’ man for the future. On September 9, 2025, the Bulls extended the contract of the 22-year-old Australian guard for four years for $100 million. At over $25 million annually, he is the highest-paid player on the team and the new face of the organization.
Josh Giddey’s New Contract and Journey to the Chicago Bulls
It’s been quite the journey for Giddey. Drafted by the Oklahoma City Thunder, he spent his first three seasons there, but eventually felt his role shrinking. With Shai Gilgeous-Alexander firmly leading the team, the Thunder wanted Giddey to come off the bench heading into the 2024 season.
Giddey wasn’t ready to accept that. He wanted the ball in his hands and a chance to grow as a starter, so he asked out. The Thunder worked with him to find the right fit, sending him to Chicago in a trade for defensive specialist Alex Caruso.
The move turned out to be exactly what he needed. Giddey averaged 14.6 points, 8.1 rebounds, and 7.2 assists per game in his first season wearing a Bulls uniform in 2024. He also posted career highs in steals and three-point shooting, showing he could handle being the primary playmaker after the team moved on from Zach LaVine. Suddenly, the Bulls had a young guard who could rebound like a forward, pass like a veteran, and confidently run the offense.
Just in: Restricted free agent Josh Giddey has reached agreement on a four-year, $100 million deal to re-sign with the Chicago Bulls, agent Daniel Moldovan of Lighthouse Sports Management tells ESPN. pic.twitter.com/RtJqf7P679
— Shams Charania (@ShamsCharania) September 9, 2025
Still, this summer wasn’t all smooth sailing. Negotiations between Giddey and the Bulls got tense. Chicago reportedly opened with an offer around $22 million per year, while Giddey’s camp pushed closer to $30 million. The gap fueled many headlines and questions about whether the Bulls would commit to him long-term.
Both Parties Meet In the Middle: Chicago’s Expectation for the Future
Ultimately, both sides landed in the middle, settling on a $25 million annual salary. For Giddey, it’s validation. For the Bulls, it’s an investment in their future.
Now the focus shifts to what comes next. Chicago isn’t expected to be a contender this season, but they aim to fight for a play-in spot while building around their young core. Alongside Giddey, they’ll lean on rookie draft pick Noa Essengue and could explore trades involving veterans like Nikola Vučević or Ayo Dosunmu.
In October, Giddey turns 23, so he’s still only beginning to realize his full potential. The Bulls are betting on him to become the star who lifts them out of mediocrity, and they have a new $100 million contract in place to support him.
