BREAKING: Restricted free agent PJ Washington agrees $48,000,000 contract to re-sign with Charlotte Hornets
The Charlotte Hornets and PJ Washington have agreed on a three-year $48 million contract. Washington was a restricted free agent this summer. After weeks of negotiations, the two parties have finally agreed to extend his tenure with the franchise. Senior NBA insider Adrian Wojnarowski confirmed the report, saying:
"Restricted free agent F PJ Washington has agreed on a new three-year, $48 million contract to stay with the Charlotte Hornets, @LiftSportsMngmt agent Kevin Bradbury and Washington Sports Group’s Paul Washington Sr. tell ESPN".
Washington was earlier offered roughly $50 million over four years. He expected to earn at least $20 million on his next deal. The $48 million over three years doesn't equate to that, but it got him closer to the desired value he wanted on his next contract.
That's the best deal he could get based on the current situation. Teams with cap space had exhausted their resources, making the Hornets his best landing spot. They could offer him the most money of any team in the market, with other franchises out of salary flexibility.
PJ Washington is among the best two-way wings in the NBA
PJ Washington averaged a career-high 15.7 points and 4.9 rebounds per game last season as one of the primary scorers for the Hornets, with LaMelo Ball sidelined with injury for most of the season. Washington's two-way ability and offensive versatility make him one of the best two-way wings in the league.
He can play big for his 6'7" frame, which makes him a quality asset for any NBA team in today's game. The Hornets may have overpaid him slightly, but it could be a rewarding signing for the franchise.
The Hornets are hoping to get back into the playoffs. This season could give them a legitimate shot at achieving that dream. The Eastern Conference is not looking as strong, giving several lottery teams a solid shot at claiming a postseason berth.
The Hornets could be in that race, too, especially if Washington can maintain his production from last year and become more efficient. He shot 44.4%, including a career-low 34.8% from deep. With LaMelo Ball set to return, Brandon Miller added to the mix, veterans Gordan Hayward and Terry Rozier still on the roster, the Hornets will be in a solid spot if Washington fires on all cylinders.
PJ Washington's $16 million contract annually also gives the Hornets a good value deal in potential trades down the line.