Entering 2023 free agency, there were 12 restricted free agents on standard contracts. Of that group, 11 have signed new deals, which means Hornets forward P.J. Washington is the lone standard RFA left on the market.
As our free agent tracker shows, Miles Bridges, Ayo Dosunmu, Rui Hachimura, Cameron Johnson, Tre Jones, Herbert Jones, Austin Reaves, Paul Reed, Matisse Thybulle and Coby White have all returned to the teams that held their rights of first refusal. Only Grant Williams found a new club, joining the Mavericks via a three-team sign-and-trade with Boston and San Antonio.
That doesn’t mean other players in that group weren’t interested in finding new homes in free agency. Thybulle and Reed signed offer sheets with the Mavs and Jazz, respectively, that the Trail Blazers and Sixers decided to match.
Bridges’ representatives reportedly weren’t thrilled with his lack of negotiating leverage in talks with the Hornets, as he was the only standard RFA to sign his $7.9MM qualifying offer, which means he’ll become an unrestricted free agent in 2024. Bridges was ineligible for a sign-and-trade after missing all of last season following domestic violence charges.
Washington is reportedly at an impasse in contract negotiations with Charlotte, and only the Cavaliers have been linked as a potential sign-and-trade suitor for the former 12th overall pick. Still, Cleveland is limited in its ability to make a lucrative offer for Washington due to its proximity to the luxury tax, and the Cavs also don’t have many desirable draft assets, so the Hornets might balk at that idea.
Washington, who turns 25 next week, is reportedly seeking a contract in the range of $18-20MM annually. A month ago, Jake Fischer of Yahoo Sports reported that Charlotte had yet to offer Washington a contract that matched or exceeded the rookie scale extension Isaiah Stewart signed with Detroit — $15MM in guaranteed money per year (up to $16MM annually with incentives).
Perhaps Washington will eventually take the same route as Bridges by signing his $8.5MM qualifying offer to hit unrestricted free agency next summer. That scenario would be less than ideal for Charlotte, as the team could potentially lose both of its former lottery picks for nothing in 2024.
In addition to Washington, there are also four two-way restricted free agents who remain unsigned: Trent Forrest (Hawks), Theo Maledon (Hornets), Matt Ryan (Timberwolves) and Terry Taylor (Bulls). Jamal Cain accepted his two-way qualifying offer from the Heat on Friday, taking him off the market.
I’m hopeful that the new ownership group changes the way negotiations have gone with Washington because there is *no* reason an offer for 15m per shouldn’t have already been made.
I’m also hopeful this is the last year Mitch is the GM.