The Houston Rockets made a decision on the immediate future of Kevin Porter Jr. Shams Charania reported today that the Rockets have extended Porter Jr. with both sides agreeing to a four-year, $82.5 million deal.
Houston Rockets guard Kevin Porter Jr. has agreed to a four-year, $82.5 million contract extension, sources tell me and @KellyIko. Only the first season is fully guaranteed.— Shams Charania (@ShamsCharania) October 17, 2022
The Rockets and Porter Jr. made this deal on the last day that an extension could be mad,e as the deadline is 5:00 pm for players out of the NBA draft class of 2019. The deal is structured in a way that is beneficial to both parties. Here is how it is a great deal for the Rockets and Porter Jr.
Kevin Porter Jr.
Porter Jr. has come a long way from his time in Cleveland. As we all know at this point, Porter Jr. was exiled by the Cavs for locker room issues and traded to the Rockets for a heavily protected second round pick.
The deal Porter Jr. reportedly agreed to is fully guaranteed the first year at $15.86 million and includes contract incentives going forward, with June trigger dates after year one that includes team success and if Porter Jr is still on the roster after certain dates. Even though it is not a fully guaranteed deal for Porter Jr., it gives him a significant raise his first year and all the motivation in the world to continue to improve his game and reach the other incentives.
The deal is structured so that if Porter Jr. stays away from issues on the court and off, he could be in for a nice payday going forward. It also shows that Porter Jr. wants to stay with the Rockets because he didn't have to sign the deal. Instead he could have waited it out and became a free agent after this upcoming season.
Kevin Porter Jr. is not the only winner is this deal. The Rockets in only giving Porter Jr. just one year fully guaranteed have set themselves up to have flexibility going forward. The Rockets showed that they do belive in Porter Jr. but at the same time realize that there are concerns. If Porter Jr. continues to improve his game and not get into any trouble, they have no problem moving forward with him. If not, they can cut ties with Porter Jr. and it will not hurt them financially.
The Rockets placed incentives in year two and hold a team option in the final year. Rafael Stone somehow made a deal that works for both sides without jeopardizing the team’s future. The Rockets are still setup to have over $60 million in salary cap space next Summer.
Here is a statement from Rafael Stone on today's signing.
“We value the player and the person that Scoot is becoming and are eager to invest in him and his journey,” said General Manager Rafael Stone.
“He’s expressed how happy he is to be with this organization and has shown his commitment to putting in the work both on and off the court. We are excited for the opportunity to continue to build something special with him.”
The Rockets start the next chapter in their rebuild this Wedesday vs. the Hawks.