The Bulls have tendered a qualifying offer to guard Josh Giddey, making him a restricted free agent, according to RealGM’s log of NBA transactions.
Giddey’s qualifying offer, which is determined by his draft slot, is a one-year contract offer worth roughly $11.14MM, but it essentially serves as a placeholder while he and the Bulls work out a new contract agreement — or while he pursues an offer sheet from a rival suitor.
As long as that qualifying offer is on the table, Chicago maintains the right of first refusal on Giddey, giving the club the opportunity to match any offer sheet he signs.
Giddey could accept the qualifying offer and play out next season on a one-year, $11.14MM deal if he chooses, which would set him up to become an unrestricted free agent in 2026. But after a strong first season in Chicago, he appears to get a much more lucrative deal this summer, so that would likely be a last resort.
After being acquired from Oklahoma City in exchange for Alex Caruso last summer, Giddey got off to a slow start as a Bull, averaging 11.4 points, 7.3 rebounds, and 6.7 assists per game with a .439/.324/.750 shooting line through his first 40 outings.
However, the 22-year-old finished the season strong, taking on more offensive responsibilities following Chicago’s trade-deadline deal sending Zach LaVine to Sacramento. Giddey put up 18.9 PPG, 9.1 RPG, and 7.8 APG on .490/.436/.799 shooting in his final 30 games.
Giddey, who was said to be seeking $30MM annually when he and the Bulls discussed a rookie scale extension last fall, is the No. 5 player on our list of this summer’s top 50 free agents.
In other minor restricted free agency news, Rockets big man N’Faly Dante has also received a qualifying offer, per RealGM. Dante’s QO is equivalent to another one-year, two-way deal.
Dante made just four appearances at the NBA level in his rookie season in 2024/25, but had a strong debut season in the G League, averaging 16.5 PPG, 10.6 RPG, and 2.2 BPG in 31 games (29.1 MPG) for the Rio Grande Valley Vipers, Houston’s NBAGL affiliate.