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Perk Turned Down Extension

Mark Murphy is on top of it over at the Herald. He discovered that:

According to two league sources, Perkins has already turned down a Celtics offer that is bound by the CBA’s current restrictions — a contract extension worth slightly less than $30 million over four years, which reflects the currently mandated contract limits of a 20-percent increase and a four-year maximum. Perkins, represented by agent Arn Tellem, has opted to wait until he is an unrestricted free agent, when even in an unpredictable market he has a chance of commanding far more.

Indeed, Perkins’ value is much higher when an underachieving center like Dallas’ Brendan Haywood ($46 million over the next six years) is taken into account.

Tellem and Perkins are making quite a gamble here that:

1) Perk has no setbacks in his recovery from knee surgery; and

2) The new CBA doesn’t significantly depress Perk’s market value.

Quoting the Haywood contract makes perfect sense as Perkins is a significantly better player, but doesn’t make sense in that it was signed in an entirely different spending context. Teams had cash to burn last summer, as many had banked cap room for the summer of Lebron. And of course, they were all operating under the current CBA, which, however the negotiations finally shake out between players and owners, is likely to be far more friendly to the players than what’s to come.

Speculation (only): Perk and Tellem are assuming they can get a contract of at least $8M in average annual value, even under a new, more restrictive CBA. That’s their worst case scenario. But more to the point, we can assume they’re shooting for something north of $10M per year. Why else would you take the risk?

From the Celtics side of things, it’s a telling move that Danny Ainge tried to lock Perk up for another four years. It shows how clearly he values #43 manning the paint in the post big-three era and falls in line with the way he locked up Rajon Rondo to an undermarket deal before he could test the free agent waters.

  • Zee

    Makes good business sense if you ask me.

  • GREENMAN

    I can't imagine Perk would ever sign with a losing team. He isnt a guy who cares about stats, so the only benefit of signing with a losing team is the $$$$. In my opinion, Perk would be miserable on a loser. With that in mind these teams worry me the most in the "perk" sweepstakes:

    OKC- if they are smart they would wait on D12 after next season. Westbrook & Durant & Howard oh my.
    NY Knickerbockers- how much of their cap will Melo take up?
    Utah- reunite Big Al and Perk.
    Houston- Perk fits, also he went to high school nearby

    and to a lesser extent:
    Miami – could only offer less than what we can. every year they lose more and more cap flexibility
    San Antonio- Twin towers as timmy rides into the sunset. Too bad they never spend money.

    wildcard:
    Clippers- They just need a sucker to take Chris Kaman off their hands. True wild card. They have a young C who cant score in deandre jordan. but Perks basketball IQ is 30X higher. Funny thing is, this would make Perk the 2nd highest paid player on that team.

    my guess is he resigns with boston for 8-9 mill a year. maybe with 500k a year raises every year.

  • What More Can I Say?

    Very solid business move by Perk. Go ahead and focus on #18. The money will take care of itself.

  • J Atlas

    @ryan while i completely value your point in this article i feel i must respectfully disagree with the level of risk that perk is taking here. i feel as though this follows business 101 by not accepting the first offer he is given. the C's are limited to what exactly they can offer him as an extension but from what i am seeing they have offered him every penny he is eligible for. also you have got to feel that if brendan heywood and amir johnson are getting crazy deals then perk will definitely get a considerable increase in salary. a key to him staying with the celtics will be the fact that they retain his bird rights to resign him despite the cap situation. i think that the bigger question lies in whether the celtics will resign both perk and glen davis (who i believe will atleast attempt to leave by signing an offer sheet to see if the celtics match it). so much to think about in the off season but that is for later, right now lets focus on banner 18