Doug Smith reports
It didn’t take Bryan Colangelo long at all to make his next free agent move.
The Raptors president and general manager will, if he hasn’t already, extend a four-year contract offer sheet to free agent guard Jarrett Jack.
There’s no financial terms available right now but Jack made $2.2 million last season with the Indiana Pacers and it’s unlikely the Raptors wouldn’t make an offer that at least includes a marginal raise in the first year.
Doug Smith continues
The four years is the interesting point. Colangelo said he was looking mainly at short-term contracts to avoid future tax penalties but if the salary is low enough, he must feel comfortable that it won’t have any long-term implications.
At 6’3, he’s also more than able to play a little two-guard and would be the kind of combo guard Colangelo likes.
There was a brief report in the Indy Star on Jarrett Jack two days ago, in the middle of a Dahntay Jones article
The Pacers are expected now to turn their attention to restricted free agent guard Jarrett Jack.
Bird and Morway have had preliminary discussions with Jack’s agent, but a deal is not imminent. The Pacers will go only so far in matching an offer for Jack.
“Jarrett’s representative wants to get a feel for the market and find out what kind of interest there is in him . . .,” Morway said. “We expect to be able to re-sign Jarrett.”
The Pacers stance on matching a Jarrett Jack offer sheet has softened since the end of the regular season, and seems to get softer as time goes on. That said, they still appear likely to match any reasonable offer. The Raptors would likely have to overpay to get Jack out of Indiana.
Luxury Tax Concerns
The Raptors’ luxury tax concerns are for the 2010/11 season, not this coming season.
If the Raptors spend their MLE, and re-sign Delfino, they’ll push themselves up towards the current luxury tax threshold. With fears of the cap decreasing hugely next season, and the luxury tax falling by a similar amount, that would leave the Raptors in a very bad situation. Even if the luxury tax remained fairly steady, the Raptors would be left in a situation where they lack cap flexibility, and would only have limited options in free agency next offseason.
Pacers Will Match
The Pacers value Jarrett Jack very highly and they’ll want to keep him around. I think they’ll match any four year offer that’s under a total of $19 million. Once you get over that amount, then I think it starts to get unclear, it could go either way from then on in.
Pacers cap situation — link — The Pacers have added Dahntay Jones since then, to a four year $11 million contract, which could have a starting salary of around $2.5 million (estimate). That would leave the Pacers $6-7 million below the luxury tax threshold.
I think it’s a mistake for the Toronto Raptors to sign any contracts that last longer than two seasons at this point in time. The Raptors best opportunity to save their future (when things go belly up) is in 2011, and will be done through cap flexibility. Adding contracts that go beyond that summer hurts that opportunity.
If there was an exceptional talent available, I’d be happy with the Raptors signing a longer deal, but for anything less than that I’m against it … and Jarrett Jack isn’t an exceptional talent, and definitely not at the pay level he’s likely to command.
Update: Figures Of Deal Now Known
Indiana Pacers restricted free agent Jarrett Jack signed an offer sheet for four years, $20 million with the Toronto Raptors, NBA front-office sources told ESPN.com.
Wow, that’s just around the mark where I thought Larry Bird would begin strongly considering not matching the deal. This one should be touch and go for the Pacers, a difficult decision.
Also of note, it’s a terrible, and I mean terrible, contract.
I think it’s a mistake for Toronto to offer this contract, and I think it’s a mistake for Indiana to match it.