Restricted free agents are such a pain for prospective suitors. This statement, at least in regards to Nigel Hayes, will make sense in a second.
By signing them to an offer sheet, you are setting their market value. Make an offer that's too low and you make it easy for his team to match it and keep their player at a value contract. Make it too high and you're gambling on the chance that it's too awful that their team refuses to match but then you have a contract that's not proportionate to their talent level.
There's also other factors like the waiting period after the offer sheet has been signed in which your cap space is tied up all while the free agents commit to other teams, leaving you with money and no one to spend it on in the event their teams end up matching.
And then there's the case with the Sacramento Kings' Nigel Hayes.
Confirmed that Nigel Hayes was waived by the Kings in order to make room for the LaVine offer. Non-guaranteed contract. He is still with Sacramento at Las Vegas Summer League.
— James Ham (@James_HamNBA) July 7, 2018
The Kings wanted Chicago Bulls restricted FA combo guard Zach Lavine so bad, they're willing to give him a four year max to the tune of $78 million – a lot of money for a guy coming off a nasty ACL injury that limited the 23 year-old to a career low 24 games.
Sadly, they needed to waive Hayes to free up money for the offer sheet – an offer sheet that the Chicago Bulls matched in a split second, rendering the release practically null.
Still, the undersized power forward is playing for the Kings' Summer League squad and there remains a chance he could be signed again should he play exceptionally well – although given the depth chart at the frontcourt spots, it's unclear if it's in their best interests to do so.
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