Happy Birthday, Caris!
After Adrian Wojnarowski reported Sunday night that the Nets and Caris LeVert have agreed to a big extension, the Nets confirmed the deal early Monday afternoon. The deal was agreed to Sunday, LeVert’s 25th birthday.
Although the Nets didn’t release details of the signing, Woj did...
Brooklyn Nets guard Caris LeVert has agreed to a three-year, $52.5 million contract extension, league sources tell ESPN. LeVert turns 25 today.— Adrian Wojnarowski (@wojespn) August 26, 2019
In the official announcement that LeVert had signed, GM Sean Marks said his guard is an exemplification of the Nets franchise.
“Caris personifies what it means to be a Brooklyn Net, and we firmly believe his best basketball is in front of him,” said Marks. “The growth he has displayed in his first three seasons is a testament to his tireless work ethic, along with an unrelenting will to maximize his talents and achieve team success. Our entire organization is excited to continue to have Caris as one of the leaders of our program moving forward.”
The Nets even posted a video of the signing...
"It means a lot. When I got drafted, this was the vision. We try and maximize our potential...we've been working and can't wait to get started."@CarisLeVert is locked in and ready to go pic.twitter.com/EOQG2CQeQK— Brooklyn Nets (@BrooklynNets) August 26, 2019
LeVert is eligible for his rookie extension as a member of the NBA’s draft class of 2016. His new deal will begin with the 2020-’21 season. According to Bobby Marks, the 6’7” Nets swingman will earn $16.2 million the first year of the extension, going up to $18.8 million in year 3, taking him up to 2023 when he’ll be 28 years old. Here’s the other cap considerations...
LeVert is trade eligible but will have a poison pill provision in his contract for this season. For outgoing salary, LeVert will count for $2.6M- the 4th year in his rookie contract. For incoming salary, the guard will count for $13.8M (the average of this year and extension). https://t.co/2ybhlvThiy— Bobby Marks (@BobbyMarks42) August 26, 2019
Six minutes after Woj Bomb Sunday, LeVert tweeted out what certainly looks to be confirmation...
No better feeling to start off Year 25. Brooklyn, I can’t wait for what’s next. pic.twitter.com/AyDj4yDqx4— Caris LeVert (@CarisLeVert) August 26, 2019
Earlier Sunday, Roc Nation Sports, LeVert’s agents, tweeted out video of his birthday party ... without mentioning who delivered the biggest present ... or identifying his birthday wish!
A 25th Birthday fit for @CarisLeVert! Blessings pic.twitter.com/I9NVzMG9Hy— Roc Nation Sports (@RocNationSports) August 25, 2019
The deal, the first since Mikhail Prokhorov agreed to sell the team to Joe Tsai, means the Nets have virtually all their core pieces under contract on long-term deals: Kevin Durant, Kyrie Irving, DeAndre Jordan, Spencer Dinwiddie and now LeVert. Only Joe Harris, who’s an expiring contract next June, and Jarrett Allen, who’s still on his rookie contract, aren’t tied up for the next three years. Even Rodions Kurucs and rookie Nicolas Claxton are signed through 2021-22. (Taurean Prince, who’s in the last year of his rookie deal, is also eligible for an extension.)
Woj later wrote about the Nets logic in making the deal...
Despite missing 42 games with a dislocated right ankle last season, LeVert showed All-Star potential for the Nets in the franchise’s run to the playoffs. His talent and development in three NBA seasons with the Nets played a prominent role in attracting free agents Irving and Durant to the Nets this summer.
Before the ankle injury, LeVert averaged 18.4 points for the Nets in the early season --- and returned to top form in the playoffs, averaging 21 points in the five-game series with Philadelphia. For the season, LeVert averaged 13.7 points, 3.9 rebounds and 3.8 assists.
The Nets had until October 21, the night before the NBA season begins, to sign LeVert to an extension or see him become a restricted free agent next June 30. Bobby Marks suggested that LeVert’s injury history might have had a lot to do with his decision to get the deal done now...
One thing to keep in mind re: Caris LeVert and questioning why he did not wait until next summer (or push for a higher number). Since his junior year at Michigan, LeVert has played 18, 15, 57, 71 and 40 games in 5 seasons. Hard to turn down $50M+ in guaranteed money.— Bobby Marks (@BobbyMarks42) August 26, 2019
LeVert was Sean Marks first draft pick. On Draft Night 2016, Marks traded Thaddeus Young to the Pacers for Indiana’s 20th pick as well as a future second rounder which has yet to be conveyed. Trading an established player like Young for LeVert was seen as a risk at the time. LeVert had suffered three foot fractures while at Michigan.
For the 2020-21 season, Brooklyn has $121 million in salary committed and will likely become a luxury-tax-paying team if it re-signs current players Harris and Prince.
- Sources: Nets extend LeVert for 3 years, $52.5M - Adrian Wojnarowski - ESPN
- Nets lock up Caris LeVert with new deal on his birthday - Brian Lewis - New York Post
- Nets’ summer spree a telling sign of Joe Tsai’s ownership - Brian Lewis - New York Post
- Caris LeVert signs $52.5 million extension as Nets lock in core - Stefan Bondy - New York Daily News
- Why Caris LeVert deserves every penny of his new contract - Kristian Winfield - New York Daily Nets
- Nets, LeVert agree to contract extension - Mike Rose & Greg Logan - Newsday
- Ripple effects of Caris LeVert’s extension and what it means for Nets’ cap space - Ian Begley - SNY
- Caris LeVert agrees to three-year, $52.5 million extension with Nets - Corey Hersch - SNY
- Brooklyn Nets, Caris LeVert agree to three-year, $52.5 million extension - YES Network
- BROOKLYN NETS SIGN CARIS LEVERT TO CONTRACT EXTENSION - Brooklyn Nets
- Nets Score Big With Caris LeVert Extension Worth $52.5 Million - Morton Jensen - Forbes