The Houston Rockets and starting point guard Kevin Porter Jr. have mutual interest in a potential contract extension this offseason, according to Monday’s update by Shams Charania of The Athletic.
Porter, who turned 22 years old earlier this offseason, is set to enter the fourth and final season (2022-23) of the rookie contract he signed after being selected in the first round of the 2019 NBA draft.
For the Rockets, the number to watch is $9.7 million. Houston’s plans to create massive salary cap space in the 2023 offseason are well known, and $9.7 million is the “cap hold” — if there’s no extension — to make Porter a restricted free agent in 2023 and potentially sign him on top of any external additions. Because the Rockets would have Bird rights on Porter, they could exceed the cap to do so, and Porter’s restricted status would allow the team to match any outside offer and still retain him.
