Why the Bulls Lost the Alex Caruso-Josh Giddey Trade

The Chicago Bulls finally made their first move in a pivotal offseason Thursday by trading Alex Caruso to the Oklahoma City Thunder for Josh Giddey. The swap left fans and analysts scratching their heads as the Bulls unloaded their most valuable asset without extracting any of Oklahoma City's plentiful draft capital.

Adding to Bulls fans' frustrations, the deal went down just days after reports surfaced indicating Chicago passed up trade-deadline offers that included a top-10 draft pick for Caruso this past season. The Bulls did so at ownership's behest, wasting a prime opportunity to recoup future assets only to endure another NBA Play-In Tournament exit.

Evaluating the Josh Giddey Addition

Many among the Chicago faithful may not like the trade, but what's done is done. Let’s look at what Josh Giddey brings to the Bulls.

Giddey is only 21 years old, which could help rejuvenate the Bulls' roster. While Caruso brought tenacious defense to the team, his hard-nosed play style led to frequent injuries.

Giddey offers durability as he played in 80 games and averaged 12.3 points, 6.4 rebounds, and 4.8 assists per game in 2023-24. Caruso only appeared in 71 games this past season and 67 the year prior. And that doesn’t even account for all the games in which Caruso labored through various ailments.

Giddey brings slightly better offensive averages to the Bulls but isn’t anywhere near the defender or three-point shooter Caruso was. This trade will magnify the defensive and three-point issues that are collective issues for the Bulls.

Bulls Failed to Maximize Return for Alex Caruso

Alex Caruso was by far the Bulls' most enticing trade trip entering the offseason. He has one year left on a team-friendly deal with options for an extension. The veteran guard touts a rare skill set consisting of elite defensive tenacity and basketball IQ, which playoff teams covet.

To maximize Caruso's value, the Bulls should've pulled the trigger on a deal at the trade deadline. Keeping to compete was confusing because even if they made it past the NBA Play-In Tournament, they would've been eliminated in the first round and faced the same offseason dilemma: rebuild or retool.

It's unclear whether a potential Zach LaVine trade will net a first-round pick, meaning Chicago needed to land a selection by flipping Caruso. If the Bulls are looking to compete in 2024-25, they'll likely be without their 2025 first-round draft pick (top-10 protected) as a condition of the DeMar DeRozan trade. If the Bulls had accepted the top-10 pick offered for Caruso at the trade deadline, owning two first-round selections this year would've helped justify a retooling game plan.

While Josh Giddey isn't a bad player, touting a top-10 pick and the 11th overall selection in the 2024 NBA Draft would've greatly improved the Bulls' future outlook. They could've revamped their frontcourt by drafting Donovan Clingan and a player like Kyle Filipowski or leveraged that capital by trading into the top 5 if they were intently drawn to a specific player.

Knowing Arturas Karnisovas and Co. settled for Giddey alone when Oklahoma City has a war chest full of draft picks leaves Bulls fans underwhelmed.

The Big Picture

Whether the Bulls' front office wants to admit it or not, a true championship contender will need to be built through the draft. The ownership group of Jerry and Michael Reinsdorf prefers to reside under the luxury tax, and the best way to keep payroll low is to roster players on rookie deals. Giddey only has one year remaining on his current contract, making him a short-term bandage.

If the Bulls want to retain their 2025 first-round draft pick, they'll have to tank into top-10 status. Karnisovas must be savvy in any forthcoming trades to acquire more picks; otherwise, the Bulls traded Alex Caruso for a maybe in Josh Giddey.

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