As free agency approaches, potential free agents are preparing for their future. Teams and players can begin negotiations on June 30, the final day of the 2022-23 salary cap year. Some players, still extension-eligible till that date, can bypass free agency by signing a new deal now. Naz Reid and the Minnesota Timberwolves have initiated proceedings three-year, $42 million deal that he was eligible to sign all season long.
Some players like Draymond Green and Khris Middleton, who seem like good bets to re-sign with their current teams would make sense as extension candidates. However, they could be looking at securing long-term deals where they get a lower starting salary. They wouldn’t be allowed to extend at a lower starting salary than the player option amounts they declined, but they could in free agency. The new CBA has changed that rule to allow such players with options to extend at lower amounts starting next offseason.
Here are several other players who remain extension-eligible and could come to terms on a deal prior to free agency.
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Nikola Vucevic has not been the player the Bulls were hoping to acquire from the peak of his Orlando days. However, there remains a strong belief around the league that he will re-sign with the Bulls. According to HoopsHype’s Michael Scotto, several executives believe Vucevic could be looking at a three-year deal in the $65 million range. He could get that type of framework now through an extension, which would keep his annual salary at its current range.
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D’Angelo Russell played a major part in the Lakers’ late-season resurgence but was less viable as they advanced into the later rounds of the playoffs. The Lakers will naturally be looking for an upgrade at guard but that may not come this summer. According to The Athletic’s Jovan Buha, one framework for Russell the Lakers have discussed internally is a front-loaded two-year deal. He could receive that in an extension right now which would retain his trade eligibility, rather than re-signing him and waiting until December 15 to potentially trade him.
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Jordan Clarkson has a $14.3 million player option for next season due on June 29. It’s possible the market for premier guard role players isn’t robust after seeing Gary Trent Jr. pick up his option and Josh Hart extend his player option deadline. If that’s the case, we could see Clarkson exercise his option and then extend or even renegotiate and extend his contract during the offseason. He could also decline his option and sign a long-term deal through an extension this week.
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Caris LeVert will likely be looking at a decrease from his $18.8 million salary from last season since most teams in the league can offer some version of the mid-level exception. The Cavaliers’ biggest need in free agency is a starting wing, but those players will be hard to come by in free agency or trade. It would make sense to extend LeVert on a team-friendly contract that allows them to utilize the mid-level and bi-annual exceptions while avoiding the luxury tax.
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Xavier Tillman has a team option worth $1.9 million due on June 27. If the Grizzlies pick it up, he will become an unrestricted free agent in 2024 if not extended next season. They are roughly $25 million below the $165.3 million luxury tax now that they’re set to receive a $3.8 million luxury tax credit from Morant’s suspension. They could use some of that extra flexibility to incentivize him to accept a team-friendly extension by declining his team option and giving him a higher starting salary.
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Tre Jones is set to become a restricted free agent this summer if the Spurs tender him a $5.2 million qualifying offer. The Spurs are projected with $38.5 million in cap space this summer and could get to $41.7 million if they rescind his qualifying offer prior to re-signing him. Last year, the Spurs had significant cap space but didn’t spend enough to finish over the salary floor. New measures will disincentive teams from staying below the floor prior to the start of the regular season, like losing the difference between their cap space and the floor. If they know they won’t utilize much of their cap space this summer, they could look to extend Jones now.
