The Charlotte Hornets went for it late Tuesday night, agreeing to terms with Utah Jazz restricted free agent Gordon Hayward on a four-year, $63 million offer sheet, as first reported by the Charlotte Observer and Yahoo! Sports. When the sheet is signed Thursday, the Jazz will have three days to match it, and retain Hayward. If they don’t match, he would go to Charlotte.
But, by all indications from Utah’s braintrust, it’s going to match. And it really isn’t that hard a decision for them, for several reasons:
1. Utah was prepared. Utah’s stripped its team salary down to the studs over the last year, mainly by absorbing the unwanted deals of Richard Jefferson, Brandon Rush and Andris Bierdins from Golden State last summer as part of the three-team deal that allowed the Warriors to sign Andre Iguodala as a free agent.
The Jazz got 2014 and ‘17 unprotected first-rounders from Golden State, using this year’s extra first on swingman Rodney Hood with the 23rd overall selection. (Utah also got 2016 and 2017 second-rounders from Golden State, and a 2018 second from Denver to help facilitate the deal.)
With Jefferson, Rush and Bierdins all coming off the Jazz’s salary cap, they shed $24 million in salary. That’s more than enough to take on Hayward’s estimated first-year salary of $14.7 million (the exact number won’t be known until the final 2014-15 cap is determined in the next couple of days) in his new deal. They’ll also have room aplenty to sign first-rounders Dante Exum ($3.6 million next season on his rookie scale contract) and Hood ($1.2 million).
In essence, Utah would trade the salaries of Jefferson, Rush and Bierdins in order to re-sign Hayward, add a potential stud in Exum and get a solid rotation prospect in Hood — all without getting anywhere near the cap or luxury tax thresholds. That’s an easy call. Exum and Hood are on rookie deals for the next several seasons, and if Exum is anywhere near as good as advertised, Utah will have a star player vastly outperforming his contract, a reasonable tradeoff even if Hayward underperforms his contract. (more…)