Chris Paul now eligible to sign contract extension with Rockets
Houston Rockets point guard Chris Paul is finally eligible to sign an extension with the team now that six months have passed since he was traded to Houston back in the summer, per ESPN’s Bobby Marks.
Instead of opting out of his contract with the L.A. Clippers and becoming a free agent this past offseason, Paul stayed on his current deal, which allowed the Rockets to simply trade for him and made the extension possible.
But as Marks explains, it’s unlikely to expect Paul to sign the four-year, $132 million extension with a starting salary of $29.5 million which he’s eligible for. That’s because Paul can simply hit unrestricted free agency this upcoming offseason where he’d be up for an even bigger contract potentially worth five years and $205 million with a starting salary of $35.3 million.
At 32 years of age, the next contract Paul signs will most likely be the last big one of his career, and he fully intends on maximizing it. As President of the NBA Players Association, he oversaw a tweak in the rules which made it possible for someone like him (and vice-president LeBron James) to sign a full five-year deal even in their advanced age.
As much as the Rockets would like Paul to sign a discounted deal in the form of the extension, they will most likely have to pay full price in order to keep the veteran point guard in Houston long-term.