Oklahoma City Thunder and Chicago Bulls Trade Analysis
Oklahoma City Thunder
Alex Caruso's professional basketball journey began with the Oklahoma City Thunder’s G-League affiliate, the Oklahoma City Blue, after going undrafted in 2016. Since then, Caruso's career has flourished at the NBA level with both the Los Angeles Lakers and the Chicago Bulls.
On Thursday, the Thunder brought Caruso back to Oklahoma City in a trade with the Bulls, sending Josh Giddey to Chicago. Caruso is highly sought after for his defensive prowess and his capabilities as a connective passer. He has effectively defended superstars like Stephen Curry and Giannis Antetokounmpo and is a steadily improving three-point shooter, hitting nearly 41% of his attempts last season.
Caruso's acquisition strengthens the Thunder's already impressive defense, which ranked fourth in the NBA. Moreover, Caruso’s contract is a financial advantage for Oklahoma City. Though he earns roughly $1.5 million more than Giddey next season, both players are on expiring deals. The Thunder also benefit from having their second- and third-best players still on rookie contracts, enabling them to potentially create more than $30 million in cap space. This financial flexibility allows the Thunder to address their rebounding issues by potentially signing players like Isaiah Hartenstein or re-signing Isaiah Joe to a long-term deal.
Caruso joins a solid defensive lineup that includes Lu Dort, Cason Wallace, and Jalen Williams. This defensive unit is well-complemented by Chet Holmgren, who ranked third in contested shots per game last season, making the Thunder’s defense arguably superior to recent champions like the Boston Celtics. The Thunder managed to trade a player they could no longer utilize effectively and acquired one highly coveted across the league. Oklahoma City's general manager, Sam Presti, has transformed a potential problem into a significant asset. This strategic maneuvering certainly looks like an "Executive of the Year" level move.
Chicago Bulls
The trade presents a different picture for the Chicago Bulls, earning them a generous C- grade. Josh Giddey is one of the top ten passers in the league and a good scorer inside the arc. However, Giddey's overall fit with the Bulls remains uncertain. He is among the nine players who have posted at least 10 triple-doubles over the past three seasons, but his success heavily depends on controlling the offense—a scenario that currently seems unlikely in Chicago without significant roster adjustments.
For Giddey to thrive, the Bulls would need to unload Zach LaVine's hefty contract and potentially let DeMar DeRozan leave. The team’s current spacing issues need considerable upgrades to fully leverage Giddey's abilities. Collaboration with Coby White in ball-handling roles could be beneficial but demands intentional development. Chicago decided to trade for Giddey instead of waiting for other offers for Caruso. Notably, multiple first-round picks and a top-10 pick were reportedly offered for Caruso.
Giddey has improved his shooting each season, making around 34% on 3-pointers last year. However, his low volume signals that there's still work to do. In the short term, the Bulls' trade makes them a worse team as they work to integrate Giddey and possibly rebuild around him. Complicating matters, Chicago owes a top-10 protected first-round pick in the 2025 NBA Draft to the San Antonio Spurs, which complicates their immediate future.
If the Bulls strategically set themselves up for a rough season to keep their 2025 pick, it could provide access to next year’s elite prospects and potentially accelerate their rebuilding process. Caruso's exit was almost a given for the Bulls, considering their place as a Play-In team. The long-term success of this trade for Chicago hinges on their ability to configure the team well enough to center around Giddey's skills effectively.
