Bradley Beal Contract Extension: 4 Points to note
The news that everyone was waiting for came in early yesterday, as Washington Wizards' All-Star shooting guard Bradley Beal finally signed an extension with the team. After months of speculation that he could be traded, particularly to the Miami Heat, those trade rumors can finally be put to rest and Wizards fans can be at ease.
Just like any other trade rumor or extension rumor, no one really had an idea as to whether Beal will stay or he would eventually ask to be traded. Reports from all around the league called for him to be traded to teams such as the Los Angeles Lakers and the Toronto Raptors who were reportedly interested in him.
But trading away one of the key players of the team would not be easy for the Wizards organization, which is already looking to rebuild and form a good team with what they were left with, after firing previous general manager Ernie Grunfeld.
With that being said, here are a few things to note about the extension Beal signed.
#1 The contract details
Beal signed a 2-year, $72 million extension that keeps him with the team until 2023. But here is where it gets complicated. There are player-options for him with the contract, both in 2021 and 2022. With this extension, Beal cannot be traded this coming season and carries a 15% trade kicker. He will receive 50% of his contract money in advance. Putting all this together, Beal's updated contract has a valuation of $130 million across 4 years.
But it doesn't stop there for Beal because if he were to opt out of his contract for the 2022-2023 season, he could sign a 5-year, $266 million contract which would be the biggest deal in NBA history. It isn't easy to understand all the terms to his contract, but the basic summary would be that Beal is earning a lot of money right now and can earn even more down the road.
#2 Trade rumors can be shut down
While there is a trade kicker to his contract, the point has now been made clear that the Wizards front office will not trade him. This statement was previously made by current Wizards general manager Tommy Sheppard, who said this past July that trading Beal has not crossed his mind at all. Sheppard understands the value he carries and that he can bring success to Washington D.C., even with the team's All-Star point guard John Wall sidelined for another season.
The biggest trade rumor going around Beal involved the Miami Heat, who were supposedly looking for another superstar to play alongside Jimmy Butler, who they had acquired this past offseason. Some rumors stated that the Heat was willing to take Wall's contract if they could get Beal. But unfortunately for the Heat and their fans, they likely won't be getting another superstar anytime soon, at least not Beal.
#3 Beal wants to be in D.C.
Some questioned the loyalty of Beal after he was initially offered a 3-year, $111 million max extension. He did not sign that immediately and certainly took his time to decide what to do about his future. Reports suggest that Wizards owner Ted Leonsis and general manager Tommy Sheppard flew to Chicago to meet Bradley Beal and his agent, to discuss contract details and obviously the future of the team.
During a press conference, Beal also talked about his legacy here in Washington D.C. and what he has brought to the nation's capital for 7 years, going now on his 8th season with the team. Another part of him signing the extension was about how other D.C. sports team have been finding success lately.
We saw the Washington Capitals hockey team win the Stanley Cup in the 2017-2018 season. Just this past week, we saw the women's basketball team, the Washington Mystics, win the WNBA championship. Lastly, we now have the Washington Nationals baseball team heading to the World Series. Beal certainly has hope for the Wizards.
#4 Wizards have a future
Many will say that the Wizards don't have a solid roster and it is true. But the team has plenty of up and coming players who could develop into stars for the team. They lost several key players in this offseason, such as Bobby Portis, Jabari Parker, Jeff Green, Tomas Satoransky, Otto Porter, and many more. But they gained new and younger players, while still keeping some familiar faces around such as center Thomas Bryant.
The Wizards drafted power forward Rui Hachimura and small forward Admiral Schofield, who both have a bright future ahead of them. Hachimura is already projected to be in the starting lineup and can contribute to the team immediately.
John Wall will be out for the rest of season, but if all goes well, he should return healthy and ready to go for the 2020-2021 season. Beal would certainly not sign this extension without knowing properly whether he will get his partner in crime back soon. It certainly must have been brought up in the meeting he had with Leonsis and Sheppard.