CLEVELAND, Ohio -- The Cleveland Cavaliers and shooting guard Collin Sexton failed to reach an agreement on a rookie-scale contract extension prior to Monday night’s deadline, a source familiar with the situation told cleveland.com.
The two sides had until 6 p.m. to finalize a deal.
Sexton, the No. 8 pick in the 2018 draft and lone remaining piece of the Kyrie Irving trade, was initially hoping for a multi-year deal, north of $100 million, that aligned with his production over the first three years, a source said. There were multiple structures discussed. Different lengths. Incentives. Unique clauses. Bonuses. The two sides never found a comfortable deal.
This past season, Sexton ranked 18th in the NBA in scoring, averaging a career-high 24.3 points on 47.5% from the field and 37.1% from 3-point range to go with 4.4 assists. His individual numbers have improved nearly across the board each season and the Cavs have repeatedly referred to him as a core piece of the team’s rebuild.
“We have put a lot into Collin and working with him,” head coach J.B. Bickerstaff said a few hours before the extension deadline. “As coaches, we kind of focus on the basketball piece of it. I will let (general manager) Koby (Altman) and his agent handle all of that. But we have put a lot of time into him. We believe in him. We would love to have him be a part of what we’re doing.”
Monday’s negotiations don’t change that view. The Cavs like Sexton. They want him around.
But without an agreement, Sexton can enter restricted free agency next summer and sign an offer sheet elsewhere that would still allow the Cavs’ matching rights -- although it could be a shorter deal. Sexton could also re-sign with the Cavs before a team makes an offer in free agency. At the moment, that door hasn’t been shut.
Last year, the Hawks and John Collins couldn’t agree to terms before the rookie-extension deadline. A few months ago, Collins received a five-year, $125 million contract to stay in Atlanta.
Restricted free agency is intended to protect franchises from making regretful financial commitments. It gives them leverage.
Only four teams are projected to have cap space next offseason and sources say Cleveland’s decision-makers thought it best to not rush an extension, allowing the market to determine Sexton’s true value, which is hard to gauge given his lousy advanced stats and the team’s record over the past three seasons. The Cavs ventured into restricted free agency this past summer, retaining center Jarrett Allen on a five-year deal worth $100 million. If Sexton plays well and shows his style can translate to winning, then they will reward him the same way.
Several of Sexton’s 2018 classmates signed max deals, including Trae Young, Luka Doncic, Shai Gilgeous-Alexander and Michael Porter Jr.
At one point this offseason, Sacramento Kings point guard De’Aaron Fox -- who inked a five-year, $163 million extension in 2020 -- was used as a general financial comp for Sexton. The Cavs were never willing to go that high. Both sides made offers and counters below the max. Not only was there was space for a compromise but a new, more team-friendly deal was still “up in the air,” with the two sides negotiating prior to the deadline. Nonetheless, after initial conversations opened with optimism about an agreement that worked for everyone, that started to wane in recent days.
On Sunday, the Suns negotiated with Mikal Bridges, the 10th pick, on a four-year, $90 million extension. Jaren Jackson Jr. and Kevin Huerter also received new deals. Huerter’s contract was the 11th rookie extension signed this offseason, setting a record.
Sexton won’t be part of that. He will look to cash in next summer.
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