Latest news with #ChicagoBulls'
Time of India
3 days ago
- Business
- Time of India
NBA Trade Rumors: Josh Giddey's $120M Payday - The Chicago Bulls' High-Stakes Bet on Their Aussie Superstar
Josh Giddey (Image via Getty) The Chicago Bulls' bold gamble on Josh Giddey has paid off in a major way—and now, the franchise faces a pivotal decision. After a breakout 2024-25 season, the 22-year-old Australian phenom is poised to secure a mammoth contract extension, with NBA insiders projecting a deal worth at least $120 million. Josh Giddey's arrival via trade initially flew under the radar, but his rapid ascent into stardom has made him indispensable in Chicago. What began as a season of adjustment transformed into a showcase of his elite playmaking, rebounding, and scoring prowess—especially after the Chicago Bulls moved on from Zach LaVine. With Giddey's restricted free agency looming, the front office must now weigh a franchise-altering investment in a player who has proven he can carry the team's future. From his near-triple-double surges to his vocal leadership, Josh Giddey has cemented himself as the Chicago Bulls' cornerstone. The question isn't whether they should pay him—it's whether they can afford not to. Josh Giddey's Breakout Season With the Chicago Bulls After arriving via trade, Josh Giddey quickly became a cornerstone for the Chicago Bulls . His stat line for the season—14.6 points, 8.1 rebounds, and 7.2 assists per game—underscored his versatility. But his post-All-Star break performance was even more impressive: - 21.2 points per game - 10.7 rebounds per game - 9.3 assists per game Josh Giddey. Image via: Michael Reaves/ Getty Images The turning point? The Zach LaVine trade. Giddey acknowledged the shift, telling Fox Sports Australia : "The first half of the year it's a new situation, so naturally there's going to be an inclination to come in here and try to fit in. That was my initial mindset... But I think it took me a little while to find my feet, and obviously, trade deadline happened when Zach got moved... It kind of opened up avenues for other guys to step into. I saw that as an opportunity to take on a bigger responsibility." (H/t: ClutchPoints ) The $120 Million Question Giddey enters restricted free agency this summer, giving the Bulls the right to match any offer. Fischer reports the 22-year-old is seeking a five-year deal worth no less than $120 million—roughly $30 million annually. Here's how his current and projected earnings stack up: Earnings Period Salary 2024-25 Season $8.4 million Projected New Deal ~$30 million/year Fischer's analysis aligns with Giddey's rising value: "Sources say Philadelphia has ongoing confidence in its ability to re-sign Grimes, but let's see. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like American Investor Warren Buffett Recommends: 5 Books For Turning Your Life Around Blinkist: Warren Buffett's Reading List Undo Ditto for the Chicago Bulls and Giddey coming to terms on the five-year pact that the Aussie playmaker is said to be seeking which is routinely projected to land at no less than $120 million." Why the Chicago Bulls Must Keep Josh Giddey With LaVine gone, Josh Giddey's role as a primary playmaker and scorer is undeniable. Key reasons Chicago should lock him up: 1. Post-Deadline Dominance: Nearly averaged a triple-double after LaVine's departure. 2. Youth and Upside: At 22, he's entering his prime. 3. Roster Stability: The Bulls lack young stars, making Giddey a core piece. The front office faces pressure to secure Giddey long-term while navigating other offseason moves, including the NBA Draft. But one thing is clear: letting him walk isn't an option. Also read: NBA Trade Rumors: Golden State Warriors might be in contention to bag $228,200,420 Milwaukee Bucks superstar to form Big 3 with Stephen Curry and Jimmy Butler As Fischer's reporting suggests, the Bulls are likely preparing a hefty offer to ensure their rising star stays put. For a team in need of direction, Giddey represents both the present and the future. Get IPL 2025 match schedules , squads , points table , and live scores for CSK , MI , RCB , KKR , SRH , LSG , DC , GT , PBKS , and RR . Check the latest IPL Orange Cap and Purple Cap standings.
Yahoo
22-05-2025
- Sport
- Yahoo
Bulls Big Man Zach Collins Says Nikola Vucevic 'Could Be More Selfish'
The Chicago Bulls' offseason is already underway while the best NBA teams battle through the first round of the playoffs. That's a bitter pill to swallow, but there were a few bright spots during the season. One of them was Zach Collins, the 27-year-old center the Bulls acquired from the San Antonio Spurs when they traded Zach LaVine to the Sacramento Kings in a three-team deal that also netted the Bulls Kevin Huerter and Tre Jones. Collins was pressed into a starter's role for eight games following injuries to Jalen Smith and the Bulls' incumbent starter, Nikola Vucevic. In a recent interview with NBA Insider Brandon 'Scoop B' Robinson of Scoop B Radio, Collins talked about playing with Vooch, comparing him to Jusuf Nurkic, and how he believes his veteran teammate could be a little more selfish on the floor. Getty 'I played with [Jusuf] Nurkić in Portland and he was also a very skilled big man but more of a brute. But Vooch is more of a footwork-footwork-footwork-touch and plays below the rim, but he's very crafty and super smart. He could be more selfish than he is but he plays the right way and he's definitely unique.' Advertisement Quite honestly, I'm not sure how many Bulls fans would want to see Vucevic play more selfishly–especially on the defensive end where he often elects to give minimal effort and only seems to care about defensive rebounding. But that's another story altogether. Collins is on the books for just under $18 million for next season. He is set to be an unrestricted free agent to begin the 2026-27 NBA season. That makes Collins a potentially valuable expiring contract for a trade. I can see a scenario where Collins could be a valuable backup option on a strong team. The Bulls fell short in the NBA Play-In Tournament losing to the Miami Heat. Advertisement With the team now squarely in the draft lottery conversation, fans are already looking ahead. The Bulls have a slim 1.7% chance of winning the No. 1 pick, but securing any top-four selection could provide a much-needed infusion of talent. Whether it's a star in the making or a player who can anchor a larger trade package, the outcome of the lottery could directly impact Collins' future in Chicago. We'll see which direction the team's front office heads. I know Bulls fans, there probably isn't a ton of faith in that concept. Chicago's offseason promises to be one of the most scrutinized in recent years. While the front office has been notoriously slow to pivot from the current core, the combination of player contracts, aging stars, and a middling record may finally force real changes. Collins could be part of those plans, either as trade bait or as a cost-effective depth piece for a restructured roster. Related: Chicago Bulls Must Trade Nikola Vucevic in the Offseason, And This is the Perfect Move Related: Nike Dropped a Jordan 6 Rings Graphic Tee and It Goes With Almost Everything
Yahoo
19-05-2025
- Entertainment
- Yahoo
Michael Jordan jersey from Bulls' first three-peat sells for $2.6 million at auction
The 1992-93 NBA season was a historic one for Michael Jordan. The Chicago Bulls' legend led the NBA in points, steals and field-goals per game. It was a great performance, but things got even better in the playoffs. Jordan averaged an incredible 35.1 points in 19 postseason games, leading the Bulls to their first three-peat during his tenure. Following that performance, Jordan surprisingly retired from the NBA. Advertisement For all those reasons, it should come as no surprise that a jersey worn by Jordan during that season sold for an incredible $2.6 million at auction Saturday. Heritage Auctions sold the uniform, which was featured on a Sports Illustrated cover in 1993. Sports Investors Authentication believes Jordan wore the jersey in roughly 32 games during the season. While Jordan was excellent during the 1992-93 NBA season, it wasn't his best in the NBA. Despite his strong performance, Jordan finished third in the MVP voting, behind Charles Barkley and Hakeem Olajuwon. Similarly, the $2.6 million price tag for the uniform — while impressive — isn't Jordan's best. A jersey Jordan wore during Game 1 of the NBA Finals in 1998 sold for a record $10.1 million in 2022. That wasn't just a record for the most expensive Jordan memorabilia ever sold, it was a record for the most expensive game-worn sports memorabilia ever sold. Perhaps not surprisingly, Jordan also holds the record for most expensive sneakers ever sold. The sneakers he wore during the Bulls' championship-clinching games sold for the $8 million at auction in 2024. Advertisement Even in retirement, Jordan remains a legendary figure. While he's held roles within the game following his career, he's mostly laid low publicly following his retirement. That could change next NBA season, as Jordan was announced as a "special contributor" for NBC's basketball coverage. While his game-worn clothes from his first appearance on NBC probably won't sell for millions, you can't put it past Jordan. Even though he hasn't played since 2003, he continues to find ways to break records.
Yahoo
25-04-2025
- Business
- Yahoo
Avoid 'Jordan's revenge' and find slam-dunk savings for athletes
For financial advisors and tax professionals, Michael Jordan's first championship took meaning beyond the beginning of the Chicago Bulls' legendary dynasty. Hoops fans recall the team's 1991 National Basketball Association title over the Los Angeles Lakers as the first of the Bulls' six championships under His Airness and company, a changing of the guard from the dominance of Magic Johnson and his "Showtime" squad. Among advisors and tax pros working with a coveted client base of professional athletes and entertainers, though, the hardwood history came with dueling state-level duties that California and Illinois levied against each other. California hit the Bulls players and employees with a tax on income they earned in the state, but Illinois came back with its own levies. At the time, the duties earned the monikers, "The Jordan tax" or "Michael Jordan's revenge." But today all 50 states charge what has come to be known as a "jock tax." Those tax complications, and the significant differences between high- and low-tax states, often require athletes and performers' certified public accountants to fill out dozens of returns. However, there are many strategies that provide opportunities for savings. These approaches include tax planning around the clients' home residencies, charitable deductions or credits, and business entities such as an S corporation. Focusing on these available strategies means that an athlete could live in a high-tax state like California — which has a top rate of 14.4% on income — if they'd rather be there than a place with a rate of zero, said Nisiar Smith, founder of Elkins Park, Pennsylvania-based Courtside Wealth Partners. "While our goal is to mitigate your tax liability, as your advisor, I'm not going to push you to live in those states, especially if you're not going to have a quality of life," Smith said in an interview. "If that's where you want to live, then by all means, we just have to figure out other ways to mitigate your tax liability. … I don't really advise them on where to live. I start backwards and ask, 'Where do you see yourself?'" Questions about residency are "very important" to athletes and entertainers, as is the fact that their tenures at the pro level or ability to fill large venues is often limited to "a relatively short period of time, when you compare it to different industries, to optimize their wealth," said Frederick Blue, the head of new business development with Wells Fargo Wealth and Investment Management. A pass-through entity or trust planning could bring savings to, say, college athletes benefitting from "name, image and likeness" deals. In light of federal, state and local taxes, a paycheck of $10 million may begin to look much different, Blue noted. "Net-net, that could potentially be cut in half, all associated with those three taxes," he said. "So it's important to look for strategies and work with a tax advisor." READ MORE: Shohei Ohtani's deferred $680M drives home tax and planning lessons The so-called jock tax assesses either a pro rata amount tied to the number of games in a given jurisdiction compared to an athletes' salary or the state's duty on a performer's one-time earnings. Living in a zero-income-tax state can be "a huge win," but the residency "must be intentional and well-documented," said Ron Pac, the co-founder and managing partner of Westport, Connecticut-based RIA firm Trivium Point Advisory. "Residency planning is about more than where you sleep, it's about where your life appears to be anchored. This will require more than just a Florida license," Pac said in an email. "Most income will be taxed where it's earned, so tracking by source is critical. This is where you will see many athletes or entertainers use planning tools such as personal service entities, deferred compensation arrangements or image-right structuring to help address messy tax footprints into a well-managed strategy." For athletes and entertainers who may not be acquainted with the challenges of sudden wealth, the budgeting and tax planning should start when they begin collecting the large paychecks, Blue said. Their residency, or domicile, could come up in contract negotiations, as well. "With some contracts in the tens and possibly hundreds of millions of dollars, seven-figure taxation savings can be realized through the right selection of a domicile," according to a white paper released last month by Wells Fargo. "While the money you earn day-to-day playing for a team is likely to be taxed as income in the state in which you play, other payments may not. For example, signing bonuses for athletes are generally taxed by the state of the athlete's residence at the time the bonus is received. So even if you are to play for a team located in a high-tax state, by domiciling in a no- or low-tax state you could save significantly on taxes for the signing bonuses. The language of your contract and the specific state in which you are to play weigh heavily on this analysis and should be overseen by a tax professional." READ MORE: Student-athletes need an assist with NIL taxes International events may add further complexity to the equation, noted a guide to tax strategies for athletes and entertainers released earlier this year by professional services firm Armanino. On the other hand, a high-grossing performer like Taylor Swift traveling worldwide could deduct business expenses abroad, and athletes' teams usually pick up other countries' income tax tabs on their games, the guide notes. Of course, the athletes must still pay the IRS, and they could earn other income during their time overseas. Back home in the U.S., the state and local tax deduction, incentives for energy efficiency and research and development, rules for equipment depreciation and credits for education or film, television and other entertainment could apply. "The massive success of Taylor Swift's Eras Tour didn't just shatter records for attendance and ticket sales — it showcased the unique tax challenges entertainers and athletes face when working across multiple states and countries," the Armanino guide said. "With most cities and states on her tour demanding their slice of the pie, savvy tax planning, including the strategic use of tax credits, becomes essential for maximizing profitability." Tax considerations deliver a lot of challenges and openings for sophisticated planning around events like the Olympics or legendary feats that result in a contractual performance bonus, Smith noted. To address these highly specific circumstances that affect his clients who are NBA and WNBA players, Courtside is — like many other wealth management companies — building its tax-related services. An upcoming merger will create a new unit of the registered investment advisory firm called Courtside CPA & Associates. READ MORE: 12 tips for advisors on working with athletes, actors and entertainers Compared to some of the biggest wealth management firms, Smith saw a "need to be competitive, in terms of what in-house offerings am I giving them" and a way "to be able to offer those tailor-made services," he said. Those include ensuring that they "plan ahead before signing contracts or booking appearances" for the tax impact and simply keeping track of where the athletes are earning money in the course of their hectic schedules, according to Smith. "You gotta pay your taxes, period," Smith said. "Second, you have to keep detailed records of where you work and perform, because that can be an Achilles' heel for a lot of athletes." Advisors seeking to break into work on behalf of athletes or entertainers could consider pursuing the Sports and Entertainment Accredited Wealth Management Advisor, or "SE-AWMA," designation through the College for Financial Planning, a Kaplan Company, Blue noted. That, "in itself, establishes a level of credibility when you are looking to build relationships in that space," he said. Then they could follow that up with outreach to agents, business managers, sports attorneys, trainers and, subsequently, to the athletes themselves. "Network as best you can. Build and cultivate relationships with what we call 'centers of influence,'" Blue said. "Tell your story. What's your value proposition to these prospective clients?"
Yahoo
16-04-2025
- Sport
- Yahoo
Josh Giddey is ‘good to go' for Chicago Bulls play-in game. Next step: Prove he can perform in the postseason.
Josh Giddey is 'good to go' for Chicago Bulls play-in game. Next step: Prove he can perform in the postseason. Josh Giddey will play in the Chicago Bulls' first game of the play-in tournament. Coach Billy Donovan didn't want to make any promises after Giddey participated fully in practice Tuesday at the Advocate Center, saying he was 'optimistic' about the guard's availability for Wednesday's home game against the Miami Heat. Advertisement But Giddey was less hesitant. 'I'm good to go,' Giddey said. 'Play-in game, must-win game — there's no way I'm going to sit it out.' Giddey missed three of the final four regular-season games with an injury to his flexor carpi ulnaris, a muscle extending down the exterior of his right forearm. The pain is concentrated in his pinkie finger, the outside of his hand and his wrist. He began to notice discomfort in the area after the All-Star break, and the injury worsened with each passing week. Even at its worst, Giddey said he didn't feel the injury affected his 3-point shot, crediting adrenaline for somewhat numbing the pain during games. But after shooting 51.7% in the first 13 games after the break, he saw his 3-point percentage drop to 30.4% in his last six regular-season games as the pain intensified. Advertisement The pain has been frustratingly inconsistent. Giddey underwent a series of scans and X-rays in an attempt to pinpoint the specific cause. Pain and stiffness vary from day to day, giving him little insight into what to expect Wednesday. Giddey said the team doesn't anticipate he will require offseason surgery, although that option hasn't been fully ruled out. He intends to play through the injury until the Bulls are finished in the postseason before pursuing potential treatment. 'I'll be able to play through it,' Giddey said. 'I hope it's to a high level. It's all about managing the pain. We'll do everything we can — tomorrow, today, tonight — to reduce it as much as possible, but I'll deal with it and play through it.' If the Bulls are going to advance out of the play-in tournament for the first time, Giddey could be the key. Advertisement Alongside Coby White in the backcourt, Giddey has been a motor for the Bulls since the All-Star break, propelling the offense while nearly averaging a triple-double with 21.2 points, 10.7 rebounds and 9.3 assists over 19 games. Although Giddey wasn't with the Bulls for their play-in losses to the Heat the last two years, he said the team's new additions are just as eager to break that streak of postseason endings. 'We understand the magnitude of it,' he said. And there's more on the line for Giddey. He'll be a restricted free agent this summer — and every play-in or playoff game represents an opportunity to raise his price. Advertisement For the first 50 games of his debut season with the Bulls, Giddey seemed on track to earn a middling rate in the market. He was averaging only 12.1 points with 7.2 rebounds and 6.5 assists and was shooting 33.7% from 3-point range, relying too heavily on a funky midrange floater. His impact was modest and didn't jump off the page — and it failed to outweigh the poor impression left by his defensive inadequacies and too-frequent turnovers. But his last 20 regular-season games showcased a different version of Giddey. His scoring average jumped to 20.9 and his assists to nine per game, while his turnovers remained relatively stable. And his 3-point shooting ignited to a scorching 47.1%, the best on the roster in that span. This summer, the Bulls front office will have to decide which version of Giddey is real. Advertisement Is he truly this efficient of a scorer? Can he maintain this level of 3-point shooting? Does he have the poise to helm an offense through an elimination game? And has his defense improved enough to remove the 'liability' label? These questions can only be answered in postseason competition. The playoffs are an important frontier for Giddey, who came to Chicago defined by his poor play in the Oklahoma City Thunder's run to the 2024 Western Conference semifinals. Giddey was benched midway through that series against the Dallas Mavericks after shooting 2-for-11 in the first four games while getting lost on both ends of the court. It was embarrassing and demoralizing. Giddey stewed over the loss as he returned home to Australia — stuck on a 15-hour flight without WiFi and vowing he never would be that helpless in a playoff series again. But that performance ultimately doomed his tenure in Oklahoma City, where coach Mark Daigneault determined Giddey could continue only as a bench player. Related Articles Advertisement The opportunity to redeem that performance has arrived. Posting unreal statistics in March and April is a fun way to juice up a contract. But if Giddey is going to shake the doubt created by last year's playoff meltdown with the Thunder, he has to prove this recent run is for real in games with actual stakes. That process starts Wednesday. Giddey tore apart the Heat defense in prior matchups this season, averaging 25.3 points in three Bulls wins. That included two triple-doubles, the last a 28-point performance last Wednesday in his final regular-season game. Coach Billy Donovan credited Giddey's ability to push the pace in transition and quickly create space in the half-court offense for his consistently high performance rate against the Heat. Advertisement 'He does a really, really good job of reading the floor and reading the defense,' Donovan said. 'When there's space, he does a great job of trying to get to the paint and get downhill. His ability to push the ball and help us with our pace and speed.' After a weeklong break from games, Giddey voiced confidence in his ability to repeat those performances against the Heat and lift the Bulls to the second game of the play-in tournament. And even with nagging pain in his shooting hand, he feels the timing is right for him to perform in the postseason. 'This is the right time of year to get rolling,' Giddey said.
