What does Kevin Durant's extension mean for him and the Brooklyn Nets?
Durant broke the news Friday on his own Boardroom website that he has agreed to sign a four-year, $198 million contract extension to his current deal, which could have allowed him to become an unrestricted free agent next summer by declining a player option.
The Nets will also have the ability this summer to extend the contracts of their other two stars, James Harden and Kyrie Irving. Those extensions are the biggest decisions in an offseason that has seen Brooklyn tinker around the edges of a roster that appeared headed for the NBA Finals before Harden and Irving both suffered injuries during a second-round loss to the Milwaukee Bucks.
So what does Durant signing on long term mean for the Nets? Let's take a look.
Extension maximizes Durant's guaranteed salary
Like his former Golden State Warriors teammate and fellow MVP Stephen Curry, Durant had no financial incentive to wait and re-sign as a free agent next summer rather than extending now. As my ESPN colleague Bobby Marks explains, either way, both players were eligible for 5% raises in the first year of their new contracts even if that amount exceeds the typical maximum salary for players with 10-plus years of experience.
Curry and Durant are also affected by the NBA's over-38 rule, which affects contract length for players who would reach age 38 during the course of it. That would have prevented both from re-signing for the maximum five years next summer, meaning an extension locks in as many new years of salary as would have been possible in free agency.
The last factor here is that Durant apparently had no interest in exploring free agency after changing teams twice as an unrestricted free agent, from the Oklahoma City Thunder to the Warriors in 2016 and then from Golden State to Brooklyn in 2019. With friends Harden and Irving as teammates and a championship-caliber roster, Durant had no reason to look around.
More extensions perhaps to come?
As noted, Durant isn't the only Nets star eligible for an extension. Irving, who went to Brooklyn with Durant in the summer of 2019, is on the same timetable with a player option for 2022-23.
There is a key difference that could make an extension less favorable for Irving, however. Because of his age (29), Irving won't be affected by the over-38 rule, meaning he could add five years to his contract next summer instead of being limited to four this year.
Harden's situation is slightly different. In his case, it makes more sense financially to pick up a $47.4 million player option for 2022-23, which is more than Harden could possibly make that year with an extension. Harden could extend off that 2022-23 salary for three years and $161 million this year or wait until next summer after picking up the option and add four years to his deal.
Whatever the mechanism, Brooklyn currently appears headed toward committing nearly half a billion dollars to the team's three stars, which would mean massive luxury-tax bills -- particularly after the Nets became tax repeaters in 2023-24. The Nets appear willing to pay that price to retain their stars.
Better health biggest factor for Brooklyn
Before extending Durant, the Nets made a handful of moves targeted at the team's bench. On draft night, Brooklyn agreed to send backup guard Landry Shamet to the Phoenix Suns for fellow guard Jevon Carter and the 29th overall pick used on North Carolina center Day'Ron Sharpe. The Nets also drafted LSU guard Cameron Thomas with their own pick, No. 27 overall.
During free agency, Brooklyn has brought back two key contributors in center Blake Griffin and positionless Bruce Brown Jr. The Nets completed a sign-and-trade sending Spencer Dinwiddie to the Washington Wizards and lost backup big man Jeff Green to the Denver Nuggets. They replaced Green with forward James Johnson while using their taxpayer midlevel exception to add longtime San Antonio Spurs guard Patty Mills as additional depth in the backcourt.
Ultimately, those changes won't matter much in the postseason if Brooklyn's Big Three can't stay healthy. After the Nets cruised past the Boston Celtics in five games in the opening round, Harden aggravated a hamstring strain in the early stages of Game 1 against Milwaukee. The Nets still won the first two games of the series at home without Harden and were up 2-1 when Irving suffered an ankle sprain. With Harden severely limited and Irving unavailable the last three games of the series, Brooklyn lost a heartbreaking Game 7 at home in overtime.
Knowing how close they were to beating the Bucks must have made it difficult for the Nets to watch Milwaukee go on to beat the Atlanta Hawks and Phoenix Suns for the franchise's first title since 1971. Brooklyn came within an inch of winning Game 7 when Durant's shot late in regulation was ruled a game-tying 2-pointer rather than a 3 that would have given the Nets the lead.
Looking forward, Brooklyn's ability to give the eventual champions everything they could handle in a playoff series bodes well. Aging is a concern for the Nets, whose three stars will all be in their 30s by the start of the postseason. Nonetheless, with Durant another year removed from Achilles tendon surgery, Brooklyn deserves to enter next season as the title favorites.