Malik Beasley Declined Three-Year, $30MM Extension Offer

Before his recent agent change, shooting guard Malik Beasley turned down a three-year, $30MM contract extension offer from the Nuggets, sources tell Bobby Marks of (Insider link). Beasley, who is entering the final year of his rookie scale contract, is eligible to sign a new deal up until October 21.

After playing limited minutes in his first two NBA seasons, Beasley emerged as one of the Nuggets’ most effective bench players in 2018/19, averaging 11.3 PPG on .474/.402/.848 shooting in 81 games (23.2 MPG). The former Florida State standout is still just 22 years old, so it’s possible he’ll take another step forward this season, which would line up for a nice payday in restricted free agency in 2020.

Pointing to Beasley’s up-and-down performance in the playoffs, Marks suggests that a three-year, $30MM contract – which is approximately equivalent to a mid-level deal – is a fair price. However, with Rich Paul and Klutch Sports now representing him, the former first-round pick figures to be seeking a more lucrative offer.

The four-year, $53MM contract signed in 2018 by Nuggets swingman Will Barton could be a relevant point of reference in negotiations, as Marks observes. Beasley outplayed Barton last season, and if he does so again in 2019/20, he’d have a strong case to top his teammate’s deal.

With Paul Millsap, Mason Plumlee, and a handful of other players on expiring contracts this season, the Nuggets currently only have about $93MM in guaranteed money on their cap for 2020/21, so they can afford to lock up Beasley if the two sides find common ground.

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