Money Matters
Isiah Canaan is due to become a restricted free agent this season. So what does that mean in bottom line English and action items?
It begins by an action required by the Philadelphia 76ers. To remain a restricted free agent, the 76ers must extend a contract offer to Canaan for a year, at a minimum of 125% of his previous years salary, or the league minimum plus $125,000, whichever is greater. That offer must be made by June 30. That offer to Canaan would come in with a price tag of $1.216 miillion.
Blue Man Hoop
After that, other teams can offer contracts to Isaiah Canaan for his services. We had done an expose on the NBA market for hybrid guards, where we compared Canaan to two similar players: Norris Cole of the New Orleans Pelicans, and Austin Rivers of the Los Angeles Clippers. They recently had contract offers from their respective teams. Cole signed for a one year $3 Million deal, while Rivers inked a $6 Million two year deal.
By rights, Canaan is a better player than either of them.
And so, there is that confounded money situation where we must assess the inexpensive cost to retain Canaan versus the potential of his play versus the likelihood of finding quality perimeter shooting elsewhere. The market value of the hybrid guard in the NBA is already set at $3 Million per season. If the Sixers retain Isaiah Canaan for any price less than that, we must consider that a huge win by the team.
Next: You don't have to be a star baby