The Wizards are making a push to sign Tomas Satoransky to a contract extension before he reaches restricted free agency in July, according to Chase Hughes of NBC Sports Washington, who hears from sources that the two sides have engaged in preliminary talks.
The interest in a new deal appears to be mutual, as Hughes reports that Satoransky is open to remaining with the Wizards long-term. Although the 27-year-old is in just his third NBA season and is still on his first contract, he technically signed a “veteran” contract as a former second-round pick rather than the rookie contract signed by first-rounders. That means he’s eligible to sign an in-season extension.
Satoransky, the 32nd overall pick in the 2012 draft, has developed into a reliable contributor for the Wizards over the course of 171 regular season games. Although he has primarily served as a backup point guard, Satoransky has taken on a starting role in each of the last two seasons due to John Wall‘s health issues.
Overall this season, Satoransky has averaged 7.0 PPG, 3.1 APG, and 2.4 RPG with a .495/.397/.813 shooting line in 41 games (21.6 MPG). Those numbers have increased to 10.1 PPG, 4.3 APG, and 3.4 RPG on .509/.429/.714 shooting in his 15 starts.
A player who signs a veteran contract extension is permitted to earn a starting salary worth up to 120% of the player’s previous salary of 120% of the NBA’s estimated average salary, whichever is greater. Since Satoransky is making just $3.13MM this season, he could get a starting salary worth up to approximately $10.6MM (120% of the estimated average salary) if he’s extended. Such a deal would max out at about $47.5MM over four years.
Spencer Dinwiddie signed a version of that extension last month, though Dinwiddie’s new contract is for just three years (and $34.4MM), rather than four. Of course, the Wizards – who already have $111MM+ on their books for 2019/20 – are under no obligation to offer Satoransky a full $10.6MM starting salary in an extension, so the actual terms would be a matter of negotiation. If the two sides can’t find common ground, Washington will need to issue a qualifying offer to Satoransky this summer to make him a restricted free agent.