With 76ers training camp officially finished and preseason action beginning, some contract rumors have already become a topic of interest for fans. The Sixers and 4th-year point guard, Jrue Holiday, are reportedly negotiating a contract extension. The two sides have until October 31st to finalize an agreement.
If Jrue and the 76ers do not come to an agreement, the Sixers will extend a qualifying offer that Jrue will not sign, and he will then become a restricted free agent. Under the new CBA, the maximum extension Jrue could receive would be 25% of the salary cap or approximately $13.6 million. This is the maximum for a player with 0-6 years experience in the NBA, and Jrue will most likely be looking to receive all of that money. The 76ers could use the “designated player” tag on him which would allow him to sign a 5-year extension, but this means they would have to sign him or trade him away. So, if they do use this on Holiday, then they can not sign Evan Turner to anything longer than a four-year deal which the 76ers would be looking to do because they want to develop their #2 overall pick into the All-Star player they know he is capable of becoming.
The 76ers are looking to sign Holiday to the extension because they know how talented he is, and how, even though he is only 22, can establish a presence in the locker room to lead the team through the season. If the two sides somehow do not reach an agreement, the end of this season will see two key players, new center Andrew Bynum and Jrue Holiday, become free agents.
Therefore, it is important that Jrue be signed before the season starts so when the 2012-2013 season comes to its conclusion, the Sixers can focus on keeping their new All-Star, Bynum, on the team. The organization sees his potential as a quality starting point guard, and he is one of the many talented young players, such as Evan Turner, Thaddeus Young, and Spencer Hawes, that the Sixers organization looks to hold on to.
Now, with Holiday’s fantastic performance against Orlando in the 1st preseason game of the season, it’s becoming more and more likely that the two sides will reach an agreement before the aforementioned date.