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Will Utah match Portland's offer for Millsap?
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Earlier this week, the Blazers signed power forward Paul Millsap to a four year offer sheet. Since he is a restricted free agent, the Jazz will have seven days to decide whether or not to match Portland's offer. The Blazers, for their part, have influenced Utah's decision as much as possible.
The deal, initially reported to be worth 36 million dollars over four years, is actually for 32 million. However, thanks to the way Portland structured the deal, 10.3 million of that will be due up front, between the first year's salary and a 5.6 million dollar signing bonus. Signing bonuses, while commonplace in the NFL, are rarely prevalent in NBA contracts. But with Utah over the luxury tax, this front-loaded contract could be devastating to the team's finances, if matched. The 10.3 million dollars due up front would cost the Jazz 20.6 million, thanks to the dollar-for-dollar penalty the luxury tax brings.
Utah has been trying to create cap space to sign Millsap by trading away Carlos Boozer, who will make 12.6 million dollars next year. The Jazz anticipated Boozer opting out of his deal and becoming a free agent this offseason, which would have allowed them to easily resign Millsap without going into the luxury tax. Boozer even went as far as to say earlier this year: "I'm opting out. No matter what, I'm going to get a raise regardless... I am going to opt out, I don't see why I wouldn't." Hmm. The harsh economic climate must have given him a change of heart. Now, the Jazz are stuck trying to trade Boozer to free up cap space. The only way they can accomplish this is to orchestrate a trade that involves a team with cap room. The Jazz thought they had a willing such trade partner... in the Blazers.
Last week, rumors surfaced that Utah and Portland were in talks about a three-team deal involving the Bulls that would send Boozer to Chicago and Kirk Hinrich to Portland. Utah would come away with Tyrus Thomas, but the biggest asset they were getting from the trade was to be cap relief; relief that they would use to re-sign Millsap. However, trade talks stalled, and just days later, Portland signed Millsap to the offer sheet. Coincidence? Or Kevin Pritchard trickery?
With Portland suddenly showing no interest in such a trade, the Jazz find themselves with no promising trade partners for Boozer. With no way to generate cap room, Utah is going to have to face a decision. The decision is not whether or not they want to keep Millsap. Of course they do; he is a young, improving, hard-working fan-favorite. Their decision is this: is such a player worth paying 20 million dollars for, next year alone?
Blazerfans have already been burned once this offseason for counting their chickens before they hatched, so one can understand Portland's leeriness to get excited over Millsap before these seven days have passed. But thanks to the way they drew up this contract, it appears very likely the Blazers will soon have their first big offseason acquisition.
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