A number of 2020 free agents, including Brandon Ingram, Gordon Hayward, and Davis Bertans, did extremely well for themselves on the open market this fall. However the most lucrative contracts signed since the new league year began weren’t free agent deals at all — they were contract extensions.
Extensions, of course, don’t involve adding a new player to the roster. By extending a contract, a team ensures that a current player will remain locked up for multiple years to come. Although a contract extension may not change the club’s outlook on the court, it can have a major impact on that team’s salary cap situation for the next several seasons.
Rookie scale extensions have typically been the most common form of contract extension. Former first-round picks who are entering the fourth and final year of their rookie deals are eligible to sign those up until December 21. It’s common for about four to eight players eligible for rookie scale extensions to sign them.
[RELATED: Players Eligible For Rookie Scale Extensions In 2020 Offseason]
While they used to be less common than rookie scale extensions, veteran extensions are happening more frequently these days, with the league’s current Collective Bargaining Agreement expanding the rules for eligibility and creating some additional incentives for star players to sign new deals before they reach free agency. In 2019/20, a total of 12 veteran extensions were signed, compared to just nine rookie scale extensions.
The deadline for a veteran extension for a player who isn’t in the final year of his current contract is December 21. That’s also the super-max extension deadline, so it applies to Giannis Antetokounmpo. However, extension-eligible players who are on expiring deals can sign new contracts throughout the season too.
Listed below are the players who have finalized contract extensions so far in the 2020/21 league year. This list, which can be found on the right-hand sidebar under “Hoops Rumors Features” on our desktop site (or on the “Features” page in our mobile menu) will be kept up to date throughout the offseason — and throughout the ’20/21 regular season if any veteran players ink an extension at that point.
Rookie scale contract extensions:
- Donovan Mitchell (Jazz): Five years, maximum salary (story). Projected value of $163,000,590. Projected value can increase to $195,600,710 if Mitchell earns All-NBA honors in 2021. Includes fifth-year player option and 15% trade kicker. Starts in 2021/22.
- Jayson Tatum (Celtics): Five years, maximum salary (story). Projected value of $163,000,590. Projected value can increase to $195,600,710 if Tatum earns All-NBA honors in 2021. Includes fifth-year player option and 15% trade kicker. Starts in 2021/22.
- Bam Adebayo (Heat): Five years, maximum salary (story). Projected value of $163,000,590. Projected value can increase to $195,600,710 if Adebayo earns MVP honors in 2021 ($185,820,675 for All-NBA First Team; $179,300,645 for Defensive Player of the Year). Starts in 2021/22.
- De’Aaron Fox (Kings): Five years, maximum salary (story). Projected value of $163,000,590. Projected value can increase to $195,600,710 if Fox earns First Team All-NBA honors in 2021 ($182,560,660 for Second Team; $169,522,180 for Third Team). Starts in 2021/22.
- OG Anunoby (Raptors): Four years, $72,000,000 (story). Includes fourth-year player option. Starts in 2021/22.
- Jonathan Isaac (Magic): Four years, $69,600,000 (story). Includes $10.4MM in incentives and Exhibit 3 injury protection. Starts in 2021/22.
- Derrick White (Spurs): Four years, $68,000,000 (story). Includes $5MM in incentives. Starts in 2021/22.
- Luke Kennard (Clippers): Four years, $56,000,000 (story). Includes $7.64MM in incentives and a fourth-year team option. Starts in 2021/22.
- Markelle Fultz (Magic): Three years, $50,000,000 (story). Includes $3MM in incentives and partial guarantee in third year. Starts in 2021/22.
- Kyle Kuzma (Lakers): Three years, $39,000,000 (story). Includes third-year player option. Starts in 2021/22.
Veteran contract extensions:
- Giannis Antetokounmpo (Bucks): Five years, super-max salary (story). Projected value of $228,200,830. Includes fifth-year player option. Starts in 2021/22.
- Rudy Gobert (Jazz): Five years, $205,000,000 (story). Includes fifth-year player option. Starts in 2021/22.
- Paul George (Clippers): Four years, maximum salary (story). Projected value of $176,265,468. Includes fourth-year player option. Starts in 2021/22.
- Jrue Holiday (Bucks): Four years, $134,997,334 (base value) (story). Includes approximately $25MM in incentives. Starts in 2021/22.
- LeBron James (Lakers): Two years, $85,660,532 (story). Includes 15% trade kicker. Starts in 2021/22.
- Steven Adams (Pelicans): Two years, $35,000,000 (story). Includes 7.5% trade kicker. Starts in 2021/22.
- Monte Morris (Nuggets): Three years, $27,300,000 (story). Includes incentives. Starts in 2021/22.
… Those wonderful salaries… Not exactly making the minimum wage flipping burgers at the drive way…
I have to wonder if in a few years these will be looking like some of those 2016 albatross contracts…