Suns wing Josh Okogie received a Non-Bird deal when he re-signed with the team, according to Bobby Marks of ESPN (Twitter link). Rather than earning the veteran’s minimum, Okogie will make 20% above the minimum on his new two-year contract, which includes a second-year player option. His salary in 2023/24 is $2,815,937, while his ’24/25 player option is worth $2,956,734.
As Marks notes, the Suns have now signed six free agents to two-year contracts with second-year player options — Okogie joins Keita Bates-Diop, Drew Eubanks, Eric Gordon, Damion Lee, and Yuta Watanabe in that group. The other five players received minimum-salary deals.
The offers, which include some security beyond 2023/24, may have helped the Suns land their preferred targets on the free agent market. However, they’ll also increase the club’s total salary and end-of-season luxury tax bill. As we’ve previously outlined, the NBA covers of portion of veteran’s minimum salaries for players who sign for a single season, but not for players who sign multiyear minimum contracts.
For instance, Gordon would have earned a $3,196,448 salary in 2023/24 regardless of whether he signed for one year or two. But because he received a second year, Phoenix will be responsible for paying that full salary (and the accompanying tax penalty based on that full salary). On a one-year deal, the Suns would’ve paid Gordon a reduced amount ($2,019,706), with the league making up the difference.
Here are a few more contract details from around the NBA:
- Julian Phillips‘ first NBA contract is a four-year deal, according to Marks (Twitter link), who says the Bulls second-round pick will earn $1.6MM in year one and the minimum in the following three seasons. The deal, which was completed using the NBA’s new second-round pick exception, will include a fourth-year team option but is guaranteed for the first three years. As Marks observes, Phillips will receive the second-most guaranteed money of any 2023 second-rounders who have signed so far, behind only No. 32 pick Jalen Pickett.
- Dennis Schröder‘s two-year deal with the Raptors is worth the full mid-level amount, Hoops Rumors has confirmed: $12,405,000 in year one and $13,025,250 in year two. Grant Williams‘ fully guaranteed four-year contract with the Mavericks is also worth the exact amount of the full non-taxpayer mid-level exception ($53,341,500 in total), though Dallas acquired him via sign-and-trade and still has its MLE available.
- Isaiah Stewart‘s four-year, $60MM extension with the Pistons and Moritz Wagner‘s two-year, $16MM deal with the Magic each have flat annual cap hits – $15MM each year for Stewart and $8MM each year for Wagner – with team options on the final season. As previously reported, Stewart’s deal also includes $1MM per year in incentives, so it could be worth up to $64MM. Meanwhile, as part of his agreement with Orlando, Wagner waived his right to veto a trade during the 2023/24 season, becoming the third player to do so under the new CBA.
Does anyone know if the Knicks had any interest in Grant Williams? If they did I guess the Knicks are still the Knicks where Free agents still don’t want to come and play. Still waiting for Knicks to unload Fournier and hopefully pick up Christian Woods
Suns are so desperate for role players that they’re giving them player options lol. Good for those guys!
Name better options for next year and I will agree with that statement.
Better option for the Suns is to sign them to second year team option and not player option, there is not to many open spots in the league so some players will sign team option without any question.
That is good for the Suns, terrible for the players. Say someone gets hurt and one of these guys steps in and becomes a difference maker creating a market for themselves next year to make some real money. These are minimum salary deals. Let’s not make the billionaires lives easier by exploiting the end of the bench guys. If these guys don’t get their break then they’ve got a little security to ensure their future better.