The Utah Jazz signed restricted free agent forward Paul Reed to a three-year, $23 million offer sheet on Saturday.
The Philadelphia 76ers had until Sunday at 11:59 ET to match the offer sheet if they wished to retain the 24-year-old former second-round pick. As part of the complicated world of restricted free agency, Philly would have to agree to all language included in the contract.
While an NBA contract typically includes fairly standard details, Utah’s front office managed to include an unusual detail that would likely complicate the deal for the 76ers more than it would have for the Jazz.
Philadelphia 76ers restricted free agent F Paul Reed Jr., has signed a three-year, $23M offer sheet with the Utah Jazz, his agent Ron Shade of Octagon Basketball tells ESPN. Sixers have until Sunday at 11:59 PM ET to match sheet and retain Reed. pic.twitter.com/0OTh1W1iPe
— Adrian Wojnarowski (@wojespn) July 8, 2023
Here is more on the offer from Adrian Wojnarowski (via ESPN):
“One of the terms of the offer sheet provided a unique twist on Reed’s contract: The first season of the contract is fully guaranteed, but the next two years worth $15.7 million become guaranteed if the Sixers advance to the Eastern Conference semifinals, sources said.”
This is particularly notable because Philadelphia has made it to the playoffs in the Eastern Conference six seasons in a row. But the 76ers have not yet advanced past the Eastern Conference semifinals in any of those campaigns.
Philadelphia has not made it past the Eastern Conference semifinals, in fact, since Allen Iverson led the 76ers to the NBA Finals in 2000-01.
This is, essentially, the “most hilarious and specific poison pill” you will ever find in an NBA contract. It is also a phenomenal troll job by Utah Jazz CEO Danny Ainge, who was at the helm for the Celtics during their longstanding rivalry with the 76ers.
okay Danny Ainge trolling the Sixers for always only making the conference semis is pretty great https://t.co/xpu3lSBZsk
— sreekar (@sreekyshooter) July 8, 2023
It’s also notable for James Harden, who has led his team to the postseason during all 14 seasons he has played in the NBA.
His teams have made it to the conference semifinals during ten of his professional seasons. But his teams have only advanced past the conference semifinals on four occasions (2011, 2012, 2015 and 2018) thus far.
The 76ers are matching Paul Reed’s three-year, $23M offer sheet with the Jazz, sources tell ESPN. Per sheet’s terms, Sixers must guarantee last two years of Reed’s deal if they win the opening round of playoffs this season.
— Adrian Wojnarowski (@wojespn) July 10, 2023
Especially if Harden comes back or if the 76ers manage to trade for Damian Lillard, it is fairly likely that Philadelphia at least manages to make it out of the first round of the postseason in the Eastern Conference.
In that case, per Utah’s offer sheet, Philadelphia would then have to guarantee the remaining two years of Reed’s contract.
This is a clause that likely wouldn’t have impacted the Jazz, a team not likely to make it past the first round of the playoffs as they continue to rebuild after trading Rudy Gobert and Donovan Mitchell.
So effectively, this was just a move to make the decision more complicated for the front office in Philadelphia. The reason for this dates back more than a full decade. Here is more from ESPN:
“As the Houston Rockets general manager 11 years ago, Daryl Morey signed Chicago Bulls restricted free agent center Omer Asik to a three-year, $24.3 million offer sheet. The deal included a “poison pill” provision that backloaded $15 million in the third year of the contract, an idea that he worked on with Asik’s agent, Justin Zanik. Now, Zanik is the Jazz GM who delivered that unique guarantee provision in Reed’s offer sheet.”
Relationships go a long way in the NBA and this one clearly had a massive impact on the details of Reed’s contract.
We’ll see who gets the last laugh depending on how far along Philadelphia makes it in the playoffs and what kind of role Reed plays in that process.
