Posts Tagged ‘contract extension’

Kobe Signs Two-Year Extension




VIDEO: Kobe Bryant talks to Rick Fox about all things Lakers

HANG TIME HEADQUARTERS – Whatever the Los Angeles Lakers’ future plans are, they included Kobe Bryant front and center. The longtime Lakers’ star signed a two-year contract extension Monday, making sure the face of the franchise for most of the past two decades remains the same.

The business became official earlier this morning in Los Angeles, when Bryant signed the extension, worth a reported $48 million (per ESPN’s Chris Broussard) at Lakers headquarters.

ESPNLosAngeles.com’s Ramona Shelbourne has more on Kobe’s new deal:

The Lakers did not announce financial terms, but a source told ESPNLosAngeles.com’s Ramona Shelburne that the deal is worth $48.5 million.

Bryant will remain the NBA’s highest-paid player over the course of the extension, the source told Shelburne. The former league MVP will receive $23.5 million in the first year and $25 million in the second year of the extension, according to the source.

Bryant, who is recovering from a torn Achilles tendon, will make over $30.4 million this season, the final year of his current contract with the Lakers.

Bryant is back on the practice court, but the Lakers are still awaiting word on when he will be able to return to action. He missed the end of last season and the start of this one with a torn Achilles, plus the rehabilitation and recovery process needed after his April surgery to repair the Achilles.

“This is a very happy day for Lakers fans and for the Lakers organization,” Lakers GM Mitch Kupchak said in a statement released by the team. “We’ve said all along that our priority and hope was to have Kobe finish his career as a Laker, and this should ensure that happens. To play 20 years in the NBA, and to do so with the same team, is unprecedented, and quite an accomplishment. Most importantly however, it assures us that one of the best players in the world will remain a Laker, bringing us excellent play and excitement for years to come.”

That ends any speculation about the Lakers’ offseason plans, now that Kobe is in the fold for at least two more seasons. With a robust crop of potential free agents expected to populate the market in the summer of 2014 (most notably New York Knicks forward Carmelo Anthony). With a healthy Kobe as their lead recruiter, the Lakers figure to be a major player in those sweepstakes.

Now that the extension business is done, we can all get back to Kobe Watch 2013-14 … he’s already been ruled out of Tuesday night’s game against Washington. But there’s always Wednesday’s game in Brooklyn to use as the next target date.

No Deal For Deng Means Drama For Bulls

Regardless of how well the players and the coaches fended off the distraction of it, the Chicago Bulls’ 2012-13 season was preoccupied, overshadowed and generally beholden to one question: “Is Derrick back?”

Odds are good, as of Tuesday, that 2013-14 will be colored by a variation on that query, as in: “Is Deng gone?”

With reports that talks of a contract extension between Luol Deng and the Bulls have broken off [CSNChicago.com], followed up by agent Herb Rudoy‘s quote that the All-Star forward “will definitely go through” free agency next summer [Chicago Tribune], a team that grappled with considerable unknowns last season assured itself of a fat one for this year. What it means to the depth and cohesiveness of the Bulls as they try to chase down the Miami Heat and a couple other improving Eastern Conference contenders remains to be seen. But it adds drama where there might have been none.

Derrick Rose, obviously, is the fulcrum on which this season tilts; if he can return from extended rehab (since April 2012) to his status as one of the NBA’s most explosive, elusive players, Chicago looks equipped to challenge the Heat and jockey with Indiana and Brooklyn for East surpremacy.

But Deng has been the Bulls’ glue and constant for the past three seasons, at least. From coach Tom Thibodeau‘s arrival through Rose’s major absence (and lesser ones), the 6-foot-8 forward has been a two-time All-Star and two-way player, coping with and often playing in spite of his own less-spectacular injuries. Deng has been Thibodeau’s go-to guy in you-name-it situations, and it took a rather serious scare last spring – he developed a serious infection after undergoing a spinal tap during the first-round series vs. the Nets – to sit him down for good.

Still just 28 after nine NBA seasons, Deng has been taken for granted by Bulls fans who remember the contract haggles that he and teammate Ben Gordon went through in 2007 and 2008. Deng finally landed his six-year, $71 million deal while Gordon left to seek his fortune (five years, $58 million) in free agency, yet the climate at United Center often seems almost as chilly toward the former as the latter.

As a performer and a teammate, as a workhorse who soaks up innings (Deng has averaged 39.1 minutes the past three seasons, leading the NBA over the past two), the man from the South Sudan has been terrific. His biggest failing? Probably his timing.

Deng’s current contract, signed in 2008, will pay him $14.2 million this season, a big number under the current CBA. He’s coming off what for the Bulls, for all its pluckiness, largely was a lost season, given Rose’s absence. And his own health issue late flipped more opportunity to Jimmy Butler, who emerged over the second half as a potential Deng replacement.

Some might argue that Chicago isn’t even all-in on 2013-14, despite Rose’s need for consistency around him as much as added talent. The Carlos Boozer countdown will be busy, with the veteran power forward headed to the amnesty pile next offseason and with Nikola Mirotic stashed overseas like some new-millennium Toni Kukoc. Rose could be rusty, Boozer and Joakim Noah might be due for  breakdowns, the roster still needs another big and Deng is facing the equivalent of a qualifying year. With the exception that he could be dealt by the Feb. 20 trade deadline.

Deng feels he has earned, and will keep earning, another big contract. But with Rose, Noah and Taj Gibson on the books for more than $39 million in 2014-15 and chairman Jerry Reinsorf having to shell out another $16.8 million for Boozer whether he’s on the books or not, the Bulls either will be looking for a hometown discount from Deng or will have moved on to Butler entirely. Meanwhile, Deng will have options, with teams both ambitious and rebuilding, eager to land a solid player, leader and citizen.

This all will be played out over 82 games, many of which Deng probably will play hurt again, will get left on the court too long or will be sent back in by Thibodeau to nail down the outcome. The mileage on his odometer will spike and, this time, it will be dinging a market value in which the Bulls will have no future stake.

It all might set a good team guy like Deng to wondering why one player can get treated as gingerly as the Stanley Cup while others get used as if they’re Dixie.