Suns wing Josh Okogie received a Non-Bird deal when he re-signed with the team, according to Bobby Marks of ESPN (Twitter link). Rather than earning the veteran’s minimum, Okogie will make 20% above the minimum on his new two-year contract, which includes a second-year player option. His salary in 2023/24 is $2,815,937, while his ’24/25 player option is worth $2,956,734.
As Marks notes, the Suns have now signed six free agents to two-year contracts with second-year player options — Okogie joins Keita Bates-Diop, Drew Eubanks, Eric Gordon, Damion Lee, and Yuta Watanabe in that group. The other five players received minimum-salary deals.
The offers, which include some security beyond 2023/24, may have helped the Suns land their preferred targets on the free agent market. However, they’ll also increase the club’s total salary and end-of-season luxury tax bill. As we’ve previously outlined, the NBA covers of portion of veteran’s minimum salaries for players who sign for a single season, but not for players who sign multiyear minimum contracts.
For instance, Gordon would have earned a $3,196,448 salary in 2023/24 regardless of whether he signed for one year or two. But because he received a second year, Phoenix will be responsible for paying that full salary (and the accompanying tax penalty based on that full salary). On a one-year deal, the Suns would’ve paid Gordon a reduced amount ($2,019,706), with the league making up the difference.
Here are a few more contract details from around the NBA:
- Julian Phillips‘ first NBA contract is a four-year deal, according to Marks (Twitter link), who says the Bulls second-round pick will earn $1.6MM in year one and the minimum in the following three seasons. The deal, which was completed using the NBA’s new second-round pick exception, will include a fourth-year team option but is guaranteed for the first three years. As Marks observes, Phillips will receive the second-most guaranteed money of any 2023 second-rounders who have signed so far, behind only No. 32 pick Jalen Pickett.
- Dennis Schröder‘s two-year deal with the Raptors is worth the full mid-level amount, Hoops Rumors has confirmed: $12,405,000 in year one and $13,025,250 in year two. Grant Williams‘ fully guaranteed four-year contract with the Mavericks is also worth the exact amount of the full non-taxpayer mid-level exception ($53,341,500 in total), though Dallas acquired him via sign-and-trade and still has its MLE available.
- Isaiah Stewart‘s four-year, $60MM extension with the Pistons and Moritz Wagner‘s two-year, $16MM deal with the Magic each have flat annual cap hits – $15MM each year for Stewart and $8MM each year for Wagner – with team options on the final season. As previously reported, Stewart’s deal also includes $1MM per year in incentives, so it could be worth up to $64MM. Meanwhile, as part of his agreement with Orlando, Wagner waived his right to veto a trade during the 2023/24 season, becoming the third player to do so under the new CBA.
