WHAT'S NEXT: NBA Veteran Extensions To Watch

Keith Smith
Keith Smith, Resident NBA ExpertMarch 09, 2024
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NBA transaction season is more or less complete. The trade deadline is more than a month behind us. The Playoff Eligibility Waiver Deadline (that’s a mouthful!) has also passed. There are a few veterans likely to catch on with teams, as players can be signed all the way through the last day of the regular season, which includes signing by playoff teams. (As long as a player was waived by March 1, he’s eligible to be on a playoff roster.)

Of course, we’ll have lots of 10-day contracts to come. And it’s possible a two-way player or two might still be converted/signed to a standard deal, even if the deadline to sign a replacement two-way player has also passed.

But there’s another form of signing that can happen all the way through June 30.

There are 31 players around the NBA that are still eligible to sign veteran extensions. In order to be eligible to extend in this league year, through June 30, a player has to be on an ending contract (either straight expiring or with an option that can be declined for next season).

That removes stars like Jayson Tatum, Donovan Mitchell, De’Aaron Fox and Bam Adebayo. They’ll have to wait until the summer to talk extensions, with Tatum, Fox and Adebayo potentially looking at Designated Players deals. Tatum has already qualified and Fox and Adebayo, if they were to make All-NBA. Mitchell is ineligible for the so-called super max extension, as he was traded to the Cleveland Cavaliers. (Players have to be traded while still on their rookie scale contract to be eligible to sign a Designated Player extension or contract.)

There are also several other potential extension candidates who will have to wait until the summer to reach an agreement. This list includes players like Brandon Ingram, Lauri Markkanen Derrick White. Because they all have contracts (without options) that extend into 2024-25, they’ll have to wait until the summer to start extension talks.

However, of the remaining 31 extension-eligible players, there are several interesting situations to monitor. Let’s dive in!

Atlanta Hawks

No extension-eligible players

Boston Celtics

Jrue Holiday (extend-and-trade limited until April 1, if he declines his 2024-25 player option)

Holiday has already hinted that Boston feels like home for him and his family. The Celtics didn’t pay a steep price to acquire Holiday to let him walk. Yes, Boston has an expensive roster already and those bills will only grow when Jayson Tatum signs his super max extension and when Derrick White is extended.

But the Celtics are going to take care of Holiday. Look for Holiday to sign a long-term deal (he can add up to four new years on April 1 if he declines his option), but at a lower number than the $39.4 million he’s set to carry for next season. Think something in the range of $120 million over four years in new money and years. Boston might even frontload the deal, to lessen the cap/tax hit in the later years.

Xavier Tillman Sr. (extend-and-trade limited)

Tillman is unlikely to extend with the Celtics. As he was acquired at the trade deadline, Tillman can only add two new years at 5% raises. That’s not enough for him to forgo a chance at unrestricted free agency.

Brooklyn Nets

No extension-eligible players

Charlotte Hornets

Davis Bertans (extend-and-trade limited, if he declines his 2024-25 player option)

Bertans has played, and played well, for Charlotte. He’s shown he’s still got some game left in him. But the Hornets aren’t likely to be interested in extending Bertans.

J.T. Thor (“Dinwiddie Extension” candidate, if team declines his 2024-25 option)

Last season, it looked like Thor was developing into a potential rotation guy. However, he hasn’t improved enough for the Hornets to consider an extension as this point.

Chicago Bulls

Lonzo Ball (if he declines his 2024-25 player option)

There’s no chance Ball declines his $21.4 million option for next season. And there’s even less of a chance the Bulls extend him if he does.

DeMar DeRozan

 Both DeRozan and the Bulls have said they have interest in an extension. There aren’t a lot of signs of DeRozan slowing down either. He’s not exactly the same player he was, but he’s adapted his game enough to cover for anything he’s lost. This one might end up getting shelved until after the postseason, but Chicago seems like they want to keep DeRozan in the fold. Bet on something getting inked before DeRozan hits free agency in July.

Cleveland Cavaliers

No extension-eligible players

Dallas Mavericks

No extension-eligible players

Denver Nuggets

No extension-eligible players

Detroit Pistons

Evan Fournier (if team declines his 2024-25 option)

No extension is happening here. The real question: Will Detroit pick up Fournier’s option for next season? $19 million is a good chunk of cap space to punt, but if the Pistons feel like they won’t need it in free agency, they could pick up Fournier’s option. He’s been playing rotation minutes off the bench, and he’d be $19 million in expiring and tradable salary through the 2025 trade deadline.

Golden State Warriors

Klay Thompson

Outside of Jrue Holiday and DeMar DeRozan, Thompson is arguably the most fascinating player on this list. He’s played better since the Warriors moved him to the bench. Thompson seems to have embraced that role too.

Now, how much is he willing to sacrifice salary-wise to stay with the only franchise he’s ever know? Golden State can’t bring Thompson back for anything near the $43.2 million he’s making this year. Not with their stated goals of reducing their overall salary/tax commitments moving forward. Look for both sides to eventually find middle ground on a new deal sooner or later.

Houston Rockets

No extension-eligible players

Indiana Pacers

Doug McDermott (extend-and-trade limited)

McDermott could add two years and about $29.6 million via an extension. That’s too rich for a backup shooting forward. But could the Pacers, who prefer to keep their own acquired players when they can, find agreement with McDermott on something in the two-year, $20 million range? That’s certainly possible.

Pascal Siakam (extend-and-trade limited)

The Pacers can “only” offer Siakam an extension of two years and $81.6 million. That’s a lot of per-year money for Siakam, but he’s not going to go for that. Not when at least a four-year, $181.9 million contract could be on the table in free agency. Maybe Siakam won’t max out, but he’ll get more in total money (from Indiana or another team) by waiting until he’s a free agent in July.

LA Clippers

Brandon Boston Jr. (“Dinwiddie Extension” candidate)

Boston hasn’t shown enough in limited minutes for the Clippers to warrant an extension.

Paul George (if he declines his 2024-25 player option)

Many thought an extension for George was fait accompli after Kawhi Leonard extended. It hasn’t happened just yet, but it still seems like a good bet to get done. One potential challenge? Leonard took less than he could have, both in years and money. Is George willing to leave anything on the table?

Los Angeles Lakers

No extension-eligible players

Memphis Grizzlies

Luke Kennard (if the team declines his 2024-25 option)

Memphis has been aggressive in extending their own players. But Kennard is in a different place. He’s not necessarily a core rotation player for the Grizzlies moving forward. And this roster has gotten very expensive. A bigger thing to watch is if Memphis even picks up Kennard’s $14.8 million option for next season. If someone has to go to cut costs, he’s the easiest choice.

Miami Heat

No extension-eligible players

Milwaukee Bucks

No extension-eligible players

Minnesota Timberwolves

Jordan McLaughlin

An extension for McLaughlin seems unlikely. Despite showing flashes at various points during his Wolves tenure, McLaughlin has never fully grabbed the backup point guard role.

Monte Morris (extend-and-trade limited)

Even though Morris is limited to extending for two years and $21.1 million, that could be enough. Minnesota has a mounting payroll that is going to see them in uncharted territory with the luxury tax. That could put a pause on extending Morris to backup the recently-extended Mike Conley. But there is something to be said for locking in players on fair-value deals. Two-years, $21.1 million would be under the Non-Taxpayer MLE amount for Morris. Keep an eye on this one.

New Orleans Pelicans

Naji Marshall (“Dinwiddie Extension” candidate)

We saved explaining the idea of what we call the “Dinwiddie Extension” for Marshall, because he’s actual candidate to sign it. In Marshall’s case, because he’s coming off a minimum deal, he’s eligible to sign a different form of veteran extension.

Instead of being confined to a percentage of his previous salary, Marshall could extend for up to four years, with the first-year salary and subsequent 8% raises being based off the league’s average salary. In Marshall’s case, he could extend for a deal that would pay him up to $75 million over four years. That’s too rich for a bench wing, especially given New Orleans long-term salary commitments already. But something like $25 million over three years (a bit more than Miles McBride got from the New York Knicks) could make sense for both Marshall and the Pelicans.

Jonas Valanciunas

Before the season even started, Valanciunas said he wanted to sign an extension with New Orleans. He’ll turn 32 years old soon, but Valanciunas has turned in another productive, efficient season. The Pelicans don’t have anyone in the fold to replace Valanciunas. As it stands, he’ll be the best available center in free agency.

New Orleans is carrying $150 million in salary already for next season, but they should try to get something done with Valanciunas. They’ve got enough clearance under the tax line to sign him to a short-term extension. Something like $30-32 million over two years feels like a fair deal for both sides.

New York Knicks

OG Anunoby (extend-and-trade limited until June 30, if he declines his 2024-25 player option) 

Anunoby is a fascinating case, because of a number of reasons. First is timing. Anunoby is limited to signing a two-year, $40.1 million extension right now. (Note: any extension for Anunoby means he’s declining his $19.9 million player option for 2024-25). That’s not enough. But because the Knicks traded for him on December 30, they can just squeeze in a bigger extension on June 30, right before the start of free agency.

This one might end up one those announcements by a reporter where we aren’t sure if the player and team are extending or if we’re talking about a new contract. This is similar to the extensions signed by Harrison Barnes and Nikola Vucevic last year, right before free agency opened up hours later. Either way, Anunoby is staying with the Knicks, whether it’s an extension or a new contract.

Alec Burks (extend-and-trade limited) 

Unlike Anunoby, Burks was acquired too late to squeeze in a big extension before the start of free agency. He’s limited to two years and $22.6 million in an extension. That’s not bad value for Burks, but it’s unlikely the Knicks are going to make that kind of commitment without the second season either being partial or non-guaranteed, or a team option.

Oklahoma City Thunder

Gordon Hayward (extend-and-trade limited)

Hayward and the Thunder aren’t likely to sign an extension. He’d have to sign something so team-friendly, that it probably doesn’t make sense for him to do that. And Hayward hasn’t shown enough yet for Oklahoma City to commit salary and a roster spot to him. It’s more likely that Hayward will head to free agency, and the Thunder will have around $30 million in cap space to play with this summer.

Orlando Magic

Markelle Fultz

It’s been a journey for Fultz and the Magic. Orlando gave him a three-year, $50 million extension in 2021 based mostly on potential. In the three years since, Fultz has played in 105 games and hasn’t improved enough to get another extension. The Magic also have younger guards that they are committed to now. The real question is if Fultz will be back in Orlando at all next season.

Philadelphia 76ers

Tobias Harris

This is the part where Sixers fans get the cold sweats and start to rock back and forth nervously. Harris has been a fine player on his current deal. But he’s been paid a lot more than a just fine player. Given Philadelphia’s public pronouncements about big plans with their 2024 cap space, there’s no chance Harris is extended.

Buddy Hield (extend-and-trade limited)

Hield could sign a two-year, $42.7 million extension right now. Hield and the Sixers could even put in the same bonus structures, that could push him up to $47.6 million in total money over the same two seasons. But, like Harris, the allure of 2024 cap space makes it unlikely Hield will extend at all.

K.J. Martin (extend-and-trade limited until May 1, then “Dinwiddie Extension” candidate)

Martin hasn’t had the breakout season that we thought might eventually come. And, say it with me, the Sixers cap space plans mean no extension is getting done here.

DeAnthony Melton

Melton is in an interesting spot. He’s got a $15.2 million cap hold for next summer. To this point, we’ve continued to factor his cap hold into the 76ers 2024 cap space projections. However, recent back issues have kept Melton on the shelf for several games. If Philly wants him, they could extend him for less than his cap hold, and actually increase their cap space. But it’s now looking more like the 76ers will renounce Melton to maximize their cap space. That obviously means that there’s no extension coming.

Phoenix Suns

Grayson Allen (“Dinwiddie Extension” candidate)

Allen has been great for the Suns. He’s leading the NBA at 47.5% shooting from behind the arc. He’s held up defensively and he’s been a nice additional ball-mover and playmaker for Phoenix. There are two factors in extending Allen at play. First, he’s a good player who the Suns would like to keep in the fold. Second, extending him now would make his deal a really nice piece of salary-matching in any future trades.

Because he makes less than the average salary, Allen is eligible for what we call the “Dinwiddie Extension”. That’s up to four years and $75 million. That’s probably a bit rich, but is $48-$60 million and a $12-15 million AAV out of bounds for Allen and the Suns? That feels good for both sides.

Royce O’Neale (extend-and-trade limited)

O’Neale has given Phoenix exactly what they hoped for as a 3&D wing. Sure, it’s a limited sample with the Suns, but this is who O’Neale is. He’s eligible to sign for two years and $20.5 million. That feels just about right for both O’Neale and Phoenix.

Portland Trail Blazers

No extension-eligible players

Sacramento Kings

No extension-eligible players

San Antonio Spurs

Cedi Osman (“Dinwiddie Extension” candidate)

Osman could get the “Dinwiddie Extension” of up to $75 million over four years. That’s obviously not going to happen. In fact, it’s unlikely Osman and the Spurs will extend his deal at all. He’s been pretty good in a limited role in San Antonio, but look for the Spurs to continue to put a priority on developing their younger wings over keeping Osman in the fold.

Toronto Raptors

Gary Trent Jr.

The Raptors are in transition. They traded away both Pascal Siakam and OG Anunoby, which seemed to set the team on a path to having cap space this summer and rebuilding to an extent. But Toronto extended Kelly Olynyk recently, which kind of countered that. If the Raptors can find a fair value for Trent ($60 million over four years?), they might keep him in the fold long-term. If that’s not workable, Toronto has acquired enough other wings that letting Trent walk could be in the cards.

Utah Jazz

Talen Horton-Tucker (“Dinwiddie Extension” candidate)

The Jazz aren’t going to extend Horton-Tucker. They are likely to renounce him this summer to maximize their cap space. And they can’t do it right now, but effective July 1, look for Utah to use a large chunk of that cap space to renegotiate-and-extend Lauri Markkanen.

Washington Wizards

Richaun Holmes (if he declines his 2024-25 player option)

Holmes isn’t going to give up a guaranteed $12.9 million for next season, unless he can recoup that much and more on a long-term extension. The Wizards aren’t in a place where that makes sense. No extension will get done here.


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