The Charlotte Hornets and restricted free agent forward P.J. Washington have agreed to a new three-year, $48 million contract, LIFT Sports Management agent Kevin Bradbury and Washington Sports Group’s Paul Washington Sr. announced on Saturday. His new deal pays $16 million annually.
In June, the Hornets extended Washington’s $8.49 million qualifying +offer, allowing him to become a restricted free agent. Washington, 25, avoided becoming the second Hornets player to sign a qualifying offer and become eligible for unrestricted free agency in 2025. Forward Miles Bridges was the first in July.
Per multiple NBA betting sites, the Charlotte Hornets hold 30th-ranked odds to win next season’s championship in 2024. Check out which sportsbooks are showing better odds for the Toronto Raptors, Chicago Bulls, Indiana Pacers, and Orlando Magic.
Restricted free agent F PJ Washington has agreed on a new three-year, $48 million contract to stay with the Charlotte Hornets, @LiftSportsMngmt agent Kevin Bradbury and Washington Sports Group’s Paul Washington Sr. tell ESPN. pic.twitter.com/tNoEfhPkeZ
— Adrian Wojnarowski (@wojespn) August 26, 2023
The 6-foot-7 forward was selected 12th overall by the Hornets in the 2019 NBA Draft out of the University of Kentucky. Washington made 57 starts in 58 appearances of his rookie 2019-20 season. He averaged 12.2 points, 5.4 rebounds, 2.1 assists, and 30.3 minutes per game.
Furthermore, the former Wildcat was selected to the NBA All-Rookie Second Team. In 73 starts of the 2022-23 season, Washington averaged career highs in points (15.7) and 3-pointers (2.0) per game.
Restricted free agent forward P.J. Washington has agreed to a new three-year, $48 million contract to remain with the Charlotte Hornets; RFA Theo Maledon is still unsigned
Moreover, in Charlotte’s 137-134 win over the Oklahoma City Thunder on March 28, 2023, the forward scored a career-high 43 points in 38 minutes as a starter.
In addition to his own scoring record, Washington became the sixth player in Hornets history to record at least 40 points, five rebounds, and five assists in a single game.
Along with notching six boards, five assists, and one steal, Washington shot 16-of-24 (66.7%) from the floor, 5-of-9 (55.6%) beyond the arc, and 6-of-7 (85.7%) at the foul line.
“Credit to my teammates getting me in the right spots,” Washington said after the win. “I was just trying to be aggressive with the shots that I did take.”
After getting drafted out of Kentucky in 2019 at 12th overall to the Charlotte Hornets, PJ Washington has just signed his second contract in the league.
2019-23: $17,600,000
2023-26: $48,000,000That’s $65M of contracted NBA income (before taxes) the former UK PF is set to earn pic.twitter.com/Dt9oEyghdn
— Tres Terrell (@TerrellTres) August 26, 2023
Washington was the first Hornets player in franchise history to average at least two 3-pointers and one block per game in a season, according to ESPN Stats & Information.
Additionally, the Hornets have 13 players signed to guaranteed contracts and two under two-way deals (Leaky Black and Amari Bailey). Angelo Allegri, Tre Scott, R.J. Hunter, and Nathan Mensah are signed to training camp deals.
Xavier Sneed was waived earlier this month. Of course, Kobi Simmons, JT Thor, and Frank Ntilikina are all signed to either non-guaranteed or partially guaranteed contracts.
Meanwhile, Charlotte has still not inked a deal with second-round draft pick James Nnaji. Not to mention, restricted free agent Theo Maledon has not yet signed a new contract as well.
However, things are looking up under the new ownership group led by Gabe Plotkin and Rick Schnall.
