Blog Entry

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: Feb 24, 2011
Posted on: March 1, 2011 12:08 pm
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Since: May 17, 2008
Posted on: March 1, 2011 12:01 pm

Perkins agrees to extension with Thunder

Multiple reports earlier this year suggested Perkins with the Celtics. Why he would turn down that extension and sign this one will be the subject of considerable debate.

Really?  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.....yea its a real head scratcher why anyone would take an extra $12million to play for a team that may, I stress MAY, have a bigger title potential in the next few years after this season.  I don't think the Celtics are going to immediately crash and burn by any stretch, but like my Lakers they are getting a bit long in the tooth.  Perkins, traded by the Celtics, now still gets a chance to win year in and year out and $12million more than Boston offered, sounds like he knew what he was doing turning down the Celtic's offer -- the market value for him was much higher.

Since: Sep 5, 2006
Posted on: March 1, 2011 12:00 pm

Perkins agrees to extension with Thunder

Uh, Bizona, normally I would agree with your sentiment, but I turned down a job in 1999 in world trade center and took less money for the same job elsewhere.  My family and I would argue that I made a good decision.

But your logic is sound, generally speaking, you do go to the place offering more money and more stability if the jobs are roughly the same.  There has to be something extra special (or ominous) about a place to go against that general rule.  I think Perk loves the TEAM in Boston, Doc being a psuedo-father figure, the Big 3 being almost like big brothers, Davis and Rondo being the guys he came of age with.  But I think in this case, he was looking at far less money, Doc looking at retirement, the Big 3 on borrowed time, and Davis' future in Boston in doubt, I don't think he could feel certain that his Boston family would be there 2 or 3 years down the line.

In the end, this was a good decision. 

Since: Jan 12, 2007
Posted on: March 1, 2011 11:47 am

Perkins agrees to extension with Thunder

perks was heartbroken about being traded.  he came to boston straight out of high school, and grew up with the celtics.  did he know he was looking at money in free agency that the celtics couldn't, and probably wouldn't pay???  of course he did.  that's why when a young team with a bright future offers you the $ you were looking for, you sign it.  especially with the uncertainty with the new CBA.  so i wouldn't go as far to say perkins was happy to leave.  that wasn't the case.  he just didn't think this time was coming till the offseason.

Since: Oct 22, 2007
Posted on: March 1, 2011 11:43 am

Perkins agrees to extension with Thunder

werd, I don't see how it's a "punch to the gut of Danny Ainge." If anything, Ainge probably feels vindicated.

Since: Oct 22, 2007
Posted on: March 1, 2011 11:42 am

Perkins agrees to extension with Thunder

radeksrat, before you post your next post, kindly get a clue. When you look for a new job, do you take one that pays you significantly less than you're worth or less than another company is offering for the same job? I know I sure as hell don't. Maybe a little less, but this is not a little less. As someone else pointed out, it works out to about 50% more than what Boston was able or willing to offer. That's a no-brainer for anyone who isn't a hater without a clue.

Since: Jul 9, 2008
Posted on: March 1, 2011 11:40 am

Perkins agrees to extension with Thunder

That extension was just a punch to the gut to Danny Ainge. 

I don't know why you would invest so much time and money into a player who has already damaged his knee severely..

One slip and fall into the wrong position, and that could be it for the Big Guy.


And because he signed it, I think he knows it too.

Since: Oct 22, 2007
Posted on: March 1, 2011 11:37 am

Perkins agrees to extension with Thunder

"it's a 4-year, $34.8 million extension."

Wow that's a lot! Good for you Perk! Congrats! No way the Celts could have offered that, so I guess Ainge did you a favor moving you.

Anyway, I'm very happy for Perkins. He's busted his butt in the NBA for 8 years doing stuff defensively that almost no one acknowledges because it doesn't show up on the stat sheet. I'm glad someone is paying attention.

Since: Nov 16, 2010
Posted on: March 1, 2011 11:34 am

Perkins agrees to extension with Thunder

Since: Sep 5, 2006
Posted on: March 1, 2011 11:26 am

Perkins agrees to extension with Thunder

What's the debate? He signed for $12.8 million more (more than a 50% jump from what Boston offered) on a team that is not on its last legs. Debate over.

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