Paul Reed signed a three-year, $23 million offer sheet with the Utah Jazz, as first reported by Adrian Wojnarowski of ESPN. The Sixers have until midnight Sunday to decide if they want to match the contract.
There are a few key details of the contract worth pointing out:
- The first year is guaranteed. The second and third years become guaranteed if the team Reed is on reaches the second round of the playoffs in this upcoming season.
- If the Sixers do match Reed's contract, he would have veto power over a trade for one year. The player having veto power is automatic when a team matches an offer sheet for a restricted free agent. It's not something unique about this contract.
- If the Sixers do decide to match the contract, which would presumably start at $7.3 million with 5% yearly raises, they would have approximately $171 million committed to 13 players.
- Since Reed signed the offer sheet, the Sixers cannot execute a sign-and-trade deal to send Reed to Utah and get assets back in return. They have two options: let him go to Utah, or sign him to the exact same contract to stay in Philly.
Let's go over some of these considerations as we try to determine what the Sixers will do.