Josh Giddey joins Aussie sport’s rich list after ending long NBA contract stalemate with Chicago Bulls

And according a Boomers legend, it’s just the start of Giddey’s “generational” wealth.

The 22-year-old Paris Olympian has reached agreement with the Bulls on a four-year $152.5 million (US$100 million) extension.

Giddey will earn an average annual salary of $37.8 million, which places him only behind Australian F1 sensation Oscar Piastri’s $41 million a season figure.

Piastri – who is leading the F1 driver standings with eight races left – penned a multi-year deal with McLaren in March.

Chicago announced Giddey’s recommitment on Wednesday but did not disclose terms of the deal.

The 203cm Victorian became a restricted free agent on July 1 but negotiations have played out for some months.

Giddey had sought a contract closer to $46 million (US$30 million), while the Bulls’ initial offer sat around $30 million (US$20 million).

Amid the possibility Giddey would sign the one-year qualifying offer $16.9 million (US$11.14 million) qualifying offer that would have left him free to leave at the end of this season, the two sides met in the middle.

The deal – which is fully guaranteed and has no player or team options, a source told CODE Sports – makes the former Adelaide 36ers NBL Next Star Australia’s newest $100 million athlete and cements his long-term future in the NBA as a focal point of the Bulls rebuild.

Giddey’s $152 million four-year deal is staggering money, but it’s just the beginning of his earnings if he can continue to improve his game.

As NBL and Boomers great Chris Anstey points out, the Melbourne-born guard will be in the mix for a bigger deal when he comes off-contract again in the 2029/30 NBA season.

Depending on form and recognitions like awards and All-Star appearances, Giddey has the potential to secure a supermax contract.

The current ceiling is Boston Celtics superstar Jayson Tatum – who last season signed the largest deal in NBA history – a supermax contract extension worth $476 million.

“We have to keep in mind that Josh will become a free agent as he enters his prime at 26 years old,” said Anstey, who played 73 NBA games for the Bulls in the 1999-2000 season.

“I couldn’t be happier for him to finally be assured of not only his medium term future, but of generational wealth for him and his family.

“I’m excited to see Josh settle into the league with the contractual negotiations behind him and work on becoming a driving part of a playoff run for the Bulls.”

Already an Olympian and World Cup starter, Giddey arrived in the Windy City via a 2024 off-season trade with Oklahoma City, the team that selected him with pick No. 6 in the 2021 NBA draft.

The son of Melbourne Tigers NBL legend Warrick Giddey played 70 games last campaign and averaged 14.6 points, 8.1 rebounds, 7.2 assists and 1.2 steals – joining Michael Jordan as the only other Bull to achieve those numbers in a season in franchise history.

Proud dad Warrick praised Giddey’s manager Daniel Moldovan for handling the delicate negotiations with Chicago.

“We’re proud of Josh and grateful for the opportunities ahead,” Warrick said.

“We appreciate his agent Daniel’s diligence and we’re glad he has stability and can keep growing with the team.”

Boomers teammate Jock Landale wasn’t surprised to see the Bulls reward Giddey with a blockbuster deal.

Landale has witnessed the young guard’s resilience first-hand and says the big money is a reward for his perseverance.

“Incredible – Josh has been through more than any of us have by the time he’s 23 and he’s come out the other side with something to show for it,” Landale said.

“So I’m really happy for him.

“He’s a kid whose dealt with a lot and has continued to rise above and just keep his head down and work.

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“Playing alongside him with the Boomers for the first time I saw how much he really cared about what he did and how much all the stuff that means a lot to me meant to him and I think that’s why we get along.

“For him to pot nine figures in one in one sitting, it’s a hell of a feat, and that changes his life and his family’s life forever.

“It’s something he should be very proud of.”