[KINGS] Comments that don't warrant their own thread (Redux)

[ockingsfan]

https://twitter.com/x/status/1939076346615079021

Is today the deadline

Perry doesn't need to sign the extension by the deadline tomorrow, but he NEEDS to decline the option to make Keon a restricted Free Agent. I'm hoping there is an announcement soon that Keon's option has been declined soon.

 

[HndsmCelt]

https://twitter.com/x/status/1939076346615079021

Is today the deadline

Somebody should correct me with if I’m wrong on this, but it’s my understanding that we can only extend for one season making Keon Ellison unrestricted free agent at the end of next season. Whereas if we don’t offer an extension but make a qualifying offer. He becomes a restricted free agent that we can lock down for a few more years and more importantly, give him the kind of money he’s worth.

 

[Capt. Factorial]

Somebody should correct me with if I’m wrong on this, but it’s my understanding that we can only extend for one season making Keon Ellison unrestricted free agent at the end of next season. Whereas if we don’t offer an extension but make a qualifying offer. He becomes a restricted free agent that we can lock down for a few more years and more importantly, give him the kind of money he’s worth.

We should probably be careful with terminology here, because extensions might come into play in our thinking.

The current situation is this: We hold a one-year team option for $2.3M.

If we do not pick up this option, Keon would be a free agent this summer, but we would have the ability to make a qualifying offer and make him a restricted free agent (we would certainly do this). Keon would be able to go out and determine his value in the free agent market, and assuming another team offers him a contract, we would have the option of matching that contract and keeping him. Since he has played with us for three seasons, we have full Bird rights on Keon and can match any offer. We could also offer him a contract on our own.

If we do pick up this option, Keon would be under contract next year for a very low salary, and then (likely) be an unrestricted free agent in the summer of 2026. We would not have the option of matching any contract, and Keon would be free to sign anywhere, including back in Sacramento, at his discretion. However, on or after the second anniversary of his signing of the current deal (that would be February 9th, 2026) we would be able to offer Keon an extension. If we offered him an extension, and he accepted it, he would obviously not go into free agency. However, the extension we offer has a maximum salary of about 120% of the MLE, which should come out to somewhere around $18.5M. Keon might think he can get more than that (or whatever extension we might offer) in free agency, so it's not a guarantee he would take it.

But those are the two options that are coming to a head with the Keon contract tomorrow.

 

[HndsmCelt]

We should probably be careful with terminology here, because extensions might come into play in our thinking.

The current situation is this: We hold a one-year team option for $2.3M.

If we do not pick up this option, Keon would be a free agent this summer, but we would have the ability to make a qualifying offer and make him a restricted free agent (we would certainly do this). Keon would be able to go out and determine his value in the free agent market, and assuming another team offers him a contract, we would have the option of matching that contract and keeping him. Since he has played with us for three seasons, we have full Bird rights on Keon and can match any offer. We could also offer him a contract on our own.

If we do pick up this option, Keon would be under contract next year for a very low salary, and then (likely) be an unrestricted free agent in the summer of 2026. We would not have the option of matching any contract, and Keon would be free to sign anywhere, including back in Sacramento, at his discretion. However, on or after the second anniversary of his signing of the current deal (that would be February 9th, 2026) we would be able to offer Keon an extension. If we offered him an extension, and he accepted it, he would obviously not go into free agency. However, the extension we offer has a maximum salary of about 120% of the MLE, which should come out to somewhere around $18.5M. Keon might think he can get more than that (or whatever extension we might offer) in free agency, so it's not a guarantee he would take it.

But those are the two options that are coming to a head with the Keon contract tomorrow.

Thanks for clarifying with precise details.

 

[MizzouKing]

Sorry to see Colby Jones facing some career adversity. Hope he gets picked up by another team soon.

 

[MizzouKing]

We should probably be careful with terminology here, because extensions might come into play in our thinking.

The current situation is this: We hold a one-year team option for $2.3M.

If we do not pick up this option, Keon would be a free agent this summer, but we would have the ability to make a qualifying offer and make him a restricted free agent (we would certainly do this). Keon would be able to go out and determine his value in the free agent market, and assuming another team offers him a contract, we would have the option of matching that contract and keeping him. Since he has played with us for three seasons, we have full Bird rights on Keon and can match any offer. We could also offer him a contract on our own.

If we do pick up this option, Keon would be under contract next year for a very low salary, and then (likely) be an unrestricted free agent in the summer of 2026. We would not have the option of matching any contract, and Keon would be free to sign anywhere, including back in Sacramento, at his discretion. However, on or after the second anniversary of his signing of the current deal (that would be February 9th, 2026) we would be able to offer Keon an extension. If we offered him an extension, and he accepted it, he would obviously not go into free agency. However, the extension we offer has a maximum salary of about 120% of the MLE, which should come out to somewhere around $18.5M. Keon might think he can get more than that (or whatever extension we might offer) in free agency, so it's not a guarantee he would take it.

But those are the two options that are coming to a head with the Keon contract tomorrow.

Glad we have you on this board, Cap! Thanks for the contractual insights.