Spurs, Parker agree to multiyear extension
As we all waited for the biggest shoe to drop in a potential Kawhi Leonard contract extension, the Spurs unexpectedly announced Friday they have signed Tony Parker to a multiyear extension of his own. With most of the roster playing on expiring contracts next season, this news makes the future a little clearer in San Antonio, and assures Parker will be with the team — barring a trade, of course — beyond the end of the Duncan era. Or so it would seem.
Parker, whose final contract year will pay him $12.5 million during the 2014-15 season, had a bit of uncertainty swirling around at times last year, especially considering the approach of what could be the end of the Big Three era in San Antonio. But there was never a question about his wishes. Parker wanted to remain a Spur, and with Friday’s news, it’ll be a while before he’s wearing anything other than silver and black.
Per Adrian Wojnarowski of Yahoo! Sports, the deal is worth up to $45 million over three years, which would keep the point guard in town through the 2017-18 season.
It appears the extension Parker has signed is for the veteran maximum, which means 107.5 percent of the previous year’s salary, which is $12.5 million in this case. If the contract is backloaded, these are the likely year-to-year details, assuming the maximum 7.5 percent raises of the first year of the extension:
It’s been a productive summer in San Antonio following the franchise’s fifth championship. Tim Duncan opted in to the final year of his deal; the Spurs drafted Kyle Anderson, who is considered a perfect systematic fit and a steal at the 30th overall draft position; Boris Diaw, Patty Mills, and Matt Bonner all agreed to deals to return to the team; international coaching legend Ettore Messina was added to the bench; Gregg Popovich signed a multiyear deal of his own; now, Parker has been locked up for the foreseeable future.
So far, so good. Next, we turn our focus to Leonard. The Spurs have until Oct. 31 to agree to an extension with the 22-year-old Finals MVP, and with Parker’s future no longer in doubt, it should make the decision to financially commit to the young star a no-brainer. We’ll have more on this in the coming days.