The Houston Rockets gave up far less than the Phoenix Suns did to acquire Kevin Durant. But if the Rockets choose not to extend him, the conversation around the trade shifts entirely.

Durant is currently on an expiring contract, making $54 million this upcoming season. ESPN's Tim MacMahon believes that could be the only contract in place when the 2025-26 NBA season begins.

“I think the Rockets are like, it's not ideal, but I don't think they would panic if they go into the season with Kevin Durant just on the contract that he's on,” MacMahon said during Friday's Hoop Collective episode.

The expiring contract would allow a then-37-year-old Durant to enter the 2026 offseason as an unrestricted free agent. He is currently eligible for a two-year, $122 million maximum extension, a price that MacMahon believes neither side is seeking.

“The Rockets are not going all in on an extension for Kevin Durant,” MacMahon said. “Now, doesn't mean it won't happen. But there's been rumblings of ‘hey, KD, he's not going to push for the full max.'”

Durant's been a max-level player since his 2010 rookie extension with the Thunder. Now in the twilight of his career, the Rockets seem to be approaching these negotiations with caution.

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ESPN's Brian Windhorst made an informative prediction as to why on the same Hoop Collective episode.

“Durant, if he does an extension, can sign for two years, but that second year would be 2027-28,” Windhorst said. “The Rockets' actions indicate they're protecting space in 2027.”

Those actions for the 2027 offseason include declining contracts for Steven Adams and Jabari Smith Jr., the end of Fred Vanvleet's two-year extension, and a non-guaranteed 2027-28 season for Dorian Finney-Smith.

Signing Durant to a sizable extension could derail those plans. According to Windhorst and fellow ESPN reporter Tim Bontemps, the goal may be to preserve cap space for Amen Thompson, who becomes eligible for a rookie extension that offseason.

If the Rockets and Durant reach a deal, it's expected to be a short-term, affordable contract, allowing Houston to chase a title without sacrificing their long-term plans.