Rockets Decline Chandler Parsons’ Option

June 30 2014 at 8:19am CDT By Cray Allred

MONDAY, 8:19am: Houston has officially declined the option, the team announced.

SATURDAY, 12:58pm: The Rockets have informed Chandler Parsons that they’ve declined his team option for the 2014/15 season, a source tells Marc J. Spears of Yahoo! Sports (Twitter link). The news doesn’t come as much of a shock since we heard earlier this month that the team had planned on making such a move and letting Parsons hit restricted free agency.

It’s very likely that Parsons will be back in Houston next season. If the team had picked up their 2014/15 option worth roughly $960K, Parsons would hit unrestricted free agency during the summer of 2015, and Houston would risk losing the sharpshooting wing to a rival suitor. Electing to decline the team option will make Parsons a restricted free agent this summer, meaning the Rockets can match any offer sheet presented to him.

In three years with Houston, Parsons has averaged 14.1 points per night and shot 47.3% from the floor. He’s proven himself to be one of the most valuable players selected in the 2011 draft, despite slipping out of the first round. Parsons played more minutes than any member of the Rockets last season.

By declining the team option, Houston will likely have to pay Parsons significantly more next season than they would have otherwise, but it appears they’re willing to sacrifice a bit of flexibility in order to keep Parsons on the squad long-term.

Charlie Adams contributed to this post.

9 thoughts on “Rockets Decline Chandler Parsons’ Option

      1. btw good job chuck and the rest of the staff on hoopsrumors for keeping us in the loop on the draft and the week leading up to it

  1. There’s been max contract talk for Monroe and Hayward this offseason; out of those two and Parsons, who’s most deserving of a max deal? I’d say Parsons, and I think Houston might regret going this route if they can’t lock up a superstar and lose Parsons in the process.

    1. i doubt the rockets would just let him get away. they would most likely sign and trade him for picks to keep there cap space or just macth his offer and keep him

      1. Either way, they won’t see an adequate return. He was a really important piece of their team. I think they might be underestimating what teams will offer him.

  2. Pingback: Western Notes: Lakers, Parsons, Honeycutt | Hoops Rumors

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