Monday was the deadline for NBA teams to complete extensions with two groups of players: former first-round picks entering the final seasons of their rookie-scale contracts and those with multiple seasons left on their remaining contracts.
Although the big story Monday was the Phoenix Suns not reaching an extension with No. 1 overall pick Deandre Ayton, we still saw a record 11 first-round picks sign extensions -- plus two veteran extensions for Indiana Pacers guard Malcolm Brogdon and Washington Wizards center Daniel Gafford.
Previously, four players from the 2018 first round had signed five-year, designated player max extensions: Luka Doncic of the Dallas Mavericks, Shai Gilgeous-Alexander of the Oklahoma City Thunder, Michael Porter Jr. of the Denver Nuggets and Trae Young of the Atlanta Hawks.
Dating back to the beginning of the 2021-22 league year in August, I've been breaking down all the extensions in terms of the value for both players and teams and the implications for the rest of the rosters.
Let's run through the extensions we saw, updated with Wednesday's extension for New Orleans Pelicans center Jonas Valanciunas, who was still eligible because he was entering the final season of his contract.
As compared to the extension the Pelicans struck with a center acquired in a trade last year (Steven Adams), I like this one much better. Presumably, the prospect of Valanciunas hitting unrestricted free agency next summer was part of why the Memphis Grizzlies were willing to send him to New Orleans for Adams in a deal that also included Eric Bledsoe and netted the Grizzlies a swap of first-round picks and a protected 2022 first-rounder from the Los Angeles Lakers.
Instead, the Pelicans have locked Valanciunas in on a deal that looks like a good value. Valanciunas had been a quality starting center in Memphis, and centers of his ilk typically land north of the $15 million a year average value on the extension as free agents. Notably, that salary fits within the limitations on extensions for players recently acquired in trades -- which also means New Orleans won't face any restrictions trading Valanciunas going forward.