SUNDAY, 5:13pm: Terry is contemplating the Pelicans’ offer, Calvin Watkins of ESPN.com tweets.
SATURDAY, 2:15pm: A team source has informed ESPN’s Calvin Watkins (on Twitter) that the Rockets aren’t sure if they are still in the mix for Terry.
FRIDAY, 5:21pm: Unrestricted free agent Jason Terry has received a contract offer from the Pelicans, Terry’s representatives tell Mark Berman of FOX 26 (Twitter link). The length and terms of the offer are not yet known, nor is Terry’s interest level in joining New Orleans. The Pelicans, who are over the cap, already have $75,617,845 in guaranteed salaries committed for next season to 12 players. That figure doesn’t include restricted free agent Norris Cole, who is reportedly entertaining the notion of signing his qualifying offer worth more than $3.037MM.
The offer from the Pelicans couldn’t be for more than the $2.139MM biannual exception, which is the most the team can give outside free agents after spending most of its mid-level exception on Dante Cunningham and Alonzo Gee. The Rockets would trigger an $88.74MM hard cap if they signed Terry for more than the minimum, and Houston already has a team salary of about $85.2MM, according to Eric Pincus of Basketball Insiders. Houston still hasn’t signed No. 32 overall pick Montrezl Harrell, adding another layer of complication.
Terry, 37, also has a contract offer on the table from the Rockets, though he considers the amount of Houston’s offer insufficient, Berman notes. Houston has renounced Terry’s Bird rights, according to the RealGM transactions log. This means the team is limited to inking him to a deal with a starting salary of no more than the roughly $2MM slice of the mid-level exception left over from the K.J. McDaniels signing, which also took up a portion of the mid-level. Terry and the Mavs reportedly had conversations about the guard returning to Dallas.
In 77 appearances for the Rockets last season Terry posted averages of 7.0 points, 1.6 rebounds, and 1.9 assists in 21.3 minutes per contest. His slash line was .422/.390/.813.