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Perkins agrees to extension with Thunder

Posted on: March 1, 2011 10:46 am
Edited on: March 1, 2011 11:14 am
Kendrick Perkins agrees to four-year extension with Oklahoma City Thunder
Posted by Matt Moore

Well, that didn't take long. Less than a week after being traded to Oklahoma City from the Boston Celtics, Kendrick Perkins will be a Thunder for the foreseeable future. The Thunder announced Tuesday they have reach an agreement on a multi-year extension with Perkins. Terms of the deal were not released in the official announcement, and haven't been leaked yet. When they are, we'll let you know. (Update: Yahoo! reports it's a 4-year, $34.8 million extension. Which is, you know, a lot.)

Multiple reports earlier this year suggested Perkins rejected a 4-year, $22 million max-extension with the Celtics. Why he would turn down that extension and sign this one will be the subject of considerable debate. The answer lies in the long-term planning of the Thunder. The Thunder have managed to keep themselves under the cap despite a considerable roster and a contending team. That room under the cap is what gave them the flexibility to renegotiate Perkins' contract, to allow for what is likely a greater extension. From a few days ago:

By simultaneously acquiring cap space with the underpaid Kenny Perk, OKC can now do a Baltche with him. OKC can use their cap space to renegotiate Perkins's current $4,640,208 salary up to as much $6,696,720. From there, they can concurrently offer a new four year extension totalling a a maximum of $33,818,436, or any number below that that they feel happier with.

Add in the extra negotiated salary, and that's over $35 million for four years that OKC can theoretically offer him, as-near-as-is $9 million per. In contrast, Boston could only offer circa $6 million per. It's a significant difference.

If Perkins thinks he can get that much on the open market, he's wrong. He's not even worth that much, especially with his current injury concerns. Yet if OKC anticipates his return to full health, and wants to tie in the defensive centrepiece that they have thus far lacked during the entire Kevin Durant era without running the risk of him hitting the open market, they can do so right now.

But they'll also have to do so right now.

Because there's a problem.

They only have until March 1st to do it.

So they'd better impress him quickly.
via Tax Payers, Trade Kickers, And Other Deadline Day Bookkeeping.

If OKC did not dramatically alter the terms of his deal in order to give him more money in the extension, then the issue with the Celtics likely came down to one of guaranteed money. If the Celtics wanted to keep his fourth year in a team option or as unguaranteed, for example, Perkins may have decided to test the open market instead to get that kind of stability. Oklahoma City's medical staff signed off on the trade of Perkins to OKC so they must not be concerned about his issues in his knees, even after missing eight months with an ACL tear and subsequent surgery. 

The Thunder have their man, and they just locked him up long-term. With Russell Westbrook soon to be extended and eventually Serge Ibaka as well, the Thunder have a core in place to contend. Now we'll have to see if they struck on time and on target. They look every bit the contender many thought they would be, though.

Since: Sep 21, 2006
Posted on: March 1, 2011 2:51 pm

Perkins agrees to extension with Thunder

"watch out......thunder is rumblin and the storm is a comin"

This may be the lamest statement I've ever read in my entire life. it's almost as if you meant to be cheesy, but even that couldn't be it. I think you really, truely mean this to sound like the OKC Thunder are comin! Look out everyone, a thunderstorm is brewin' and you can't stop a thunderstorm! F yeah! Woooo! Are you Ben Affleck? Only he could write such nonsense. The man from Boston with a terrible Boston accent.

Since: Jan 15, 2007
Posted on: March 1, 2011 2:39 pm

Perkins agrees to extension with Thunder

The author is having a hard time figuring this out...young, up and coming Thunder team and $34.8 million versus still excellant, but aging, Celtics team and $22million
Yeah, I thought that was an odd question too.  Why would he accept a $34.8 million deal with OKC after rejecting a $22 million deal with the Celtics?  I can think of 12.8 million reasons why.

Since: Mar 10, 2009
Posted on: March 1, 2011 2:16 pm

Perkins agrees to extension with Thunder

Considering Brendan Haywood signed a 5 year 50 million dollar extension at the beginning of the season, 4 year 34.8 million for Perk looks pretty good.

Since: Apr 11, 2008
Posted on: March 1, 2011 1:59 pm

Perkins agrees to extension with Thunder

Can you please define "reconded"?

Since: Aug 20, 2009
Posted on: March 1, 2011 1:40 pm

Perkins agrees to extension with Thunder

I like the signing of Perkins.  I think the price was a little steep but when your somewhere other than LA, NY or Chicago sometimes you have to pay a little extra.  I am hoping that the reported for year extension includes the jump of his salary this season to 6.7 mil.  If it does it would make the next it 4yrs/ 30.4 mil.  At that price it makes me feel a little better about the deal.  He would lower his cap number 1.1 mil/yr. If so Presti is continuing to show how smart he is.  Just like he did when he re-signed Nick Collison to an extension.  When he resigned him he frontloaded the 1st year to something like 12 mil, but he only gets about 2mil/yr after.  He pays the man his money but keeping the cap figures good in the future.

Since: Dec 23, 2010
Posted on: March 1, 2011 1:19 pm

Perkins agrees to extension with Thunder

Well, Perkins got paid. Now he can concentrate on improving his game. I always liked him, but there were also always so many flaws with him. He has bad hands, so he can't catch and dunk. He catches the ball, needs to collect himself which costs precious time, and then goes up. By then, he's got a defender or two draped on him as well. Sometimes he doesn't even get past the "catch" part of "catch and dunk." He gets too emotional in his reactions, costing his team points in technical fouls. He's not a double digit rebounder yet. He might never be. He's always setting moving screens, at least one per game, which turns the ball over. He's not that great offensively, though he's flashed a 20 point game here or there. He's a terrible free throw shooter. However, he is a very good, very passionate defender. Not sure if it's $9+ million worth of defense, but, if he raises the rest of his game, he could justify the price tag.

Since: Oct 22, 2007
Posted on: March 1, 2011 1:11 pm

Perkins agrees to extension with Thunder

Moses Guthrie, there are exceptions to every rule and I'm completely aware of that. And yes, you did make the right decision, but I'm guessing there were other factors involved that influenced your decision; you (I assume) didn't decide to take the other job because it paid less.

In general, though, if all other things are equal, most people will take the job that pays better.

Since: Aug 17, 2007
Posted on: March 1, 2011 1:06 pm

Perkins agrees to extension with Thunder

Congrats Perk!!

Once he gets healthy and playing this Thunder team will be a team to reconded with!

Since: Oct 2, 2008
Posted on: March 1, 2011 1:00 pm

Perkins agrees to extension with Thunder

Perkins liked his team in Boston and he was looking forward to going to war with them in the playoffs.  OKC isn't yet a threat to knock off the Lakers or the Spurs, so for this year it is a kick in the teeth.  By turning down the 4 year offer from the Celtics, he had basically said that this was his last year in Boston.  Boston coulnd up the offer, they are so far over the cap and Perkins would be a free agent, not a restricted free agent like Green. So it did come down to money.

As for injuries, I am not that concerned with his knees long term, they haven't been a recurring issue. What has been a issue is his shoulder(s), he has had dislocation issues off and on his whole career in Boston.  It is part of the nature of the bruising nature in the way he plays the game as a somewhat undersized (ht) center, it is a game of applying force and resisting force.

Since: Jul 7, 2010
Posted on: March 1, 2011 12:14 pm

Perkins agrees to extension with Thunder

he will fall in love with his Thunder teamamtes and OKC out......thunder is rumblin and the storm is a comin

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