There are only a few hours remaining until the deadline for rookie extensions in the NBA comes around. Teams are working feverishly to see if they can work out a last-minute deal, and one was just worked out.
The Houston Rockets and Kevin Porter Jr. agreed to a huge contract extension. According to Adrian Wojnarowski of ESPN, it is a four-year, $82.5 million deal via his agent Sam Permut of Roc Nation Sports.
Wojnarowski added that the structure of the extension is unique, as it allows a ton of upside for Porter while also putting some protections in for the Rockets. Porter has had some very public outbursts and scenes, so it makes sense that Houston would have some safeguards included.
However, it is also clear that they believe he can be a special player as they have committed a ton of time and energy, and now money, toward developing Porter as a cornerstone piece of the franchise.
LATEST NBA NEWS & RUMORS: Kevin Porter Jr & Houston Rockets Updates
The uniqueness of the extension is that only the first year of it is fully guaranteed according to Shams Charania of The Athletic and Stadium. If things go south, the Rockets can cut their losses after the 2023-24 season.
Many people were unsure whether or not the Rockets and Porter would get a deal done. There was mutual interest in making a deal, but Houston was in no rush. They were going to be very cautious in negotiations.
LATEST NBA NEWS & RUMORS: Kevin Porter Jr & Houston Rockets Updates
Their focus was on keeping their books as clean as possible for the 2023 offseason, which is when they would be in a position to make significant additions to the roster. Should the possibility for a team-friendly deal arise, they would jump at the chance to make it.
That is what they got here, as both sides come away happy. Porter has a chance to continue developing with assurances that he is part of the long-term plan as long as he stays on this path. Houston is comfortable with the number they signed him at and if things go wrong, they have ways to get out of the contract.
LATEST NBA NEWS & RUMORS: Kevin Porter Jr & Houston Rockets Updates
Porter is entering his third season with the Rockets. He averaged 15.6 points per game last season and knocked down a career-high 37.5 percent of his 3-point attempts. The USC product also handed out 6.2 assists per game and grabbed 4.4 rebounds to go along with 1.1 steals.
