Scotto: Nets have had ‘exploratory’ talks about extending Jarrett Allen

The Nets have until Monday afternoon to extend fourth year center Jarrett Allen or let him become a restricted free agent next August and Michael Scotto reports Saturday that the two sides have indeed had “exploratory extension talks.”

Scotto writing for Hoopshype reports:

According to a league source close to Allen, he wants to remain a Net long-term, has enjoyed learning from Kevin Durant and Kyrie Irving, and believes the team is a championship contender.

Should the Nets agree to extend the near seven footer, his new contract would kick in a year from now. Last year, the Nets agreed to extend Caris LeVert (three years and $52.5 million) and Taurean Prince (two years and $29.2 million) prior to the deadline. The Nets are already committed to paying DeAndre Jordan, with whom Allen is sharing the center position, $9.9 million in 2021-22. DJ has a four-year, $40 million contract ending in 2023.

Any significant extension for Allen would indicate, one again, that owner Joe Tsai is committed to paying a large luxury tax bill for years to come. Tsai could pay as much as $57.5 million in luxury taxes this season, one of the five highest totals in league history.

As Scotto notes, Allen is coming off a strong performance in the “bubble” where he averaged 15.7 points on 67.3 percent shooting, 11.0 rebounds, 4.2 assists, and 1.2 blocks per game to finish the regular season. In the first round of the playoffs, Allen 10.3 points and 14.8 rebounds. The rebound average was the best in the playoffs.

Allen is also the most durable Nets player having missed a total of 14 games over his first three years, some of them DNP’s in his rookie year. Still only 22 years old —younger than the Knicks Obi Toppen and Mitch Robinson for example, Allen has started 175 out of 222 games through his first three seasons.

If no extension agreement is reached, Scotto notes that Allen is eligible for a $5.66 million qualifying offer, which will make him a restricted free agent in the summer. In that situation, the Nets would have the right to match any offer Allen would receive from another team.

• Latest NBA extensions intel: Lauri Markkanen, PJ Tucker, Jarrett Allen and more - Michael Scotto - Hoopshype