Source: No Contract Extension for 76ers Guard Tony Wroten
The Philadelphia 76ers will not extend the contract of 4th year guard Tony Wroten by today’s deadline, a source with knowledge of the situation told Philadelphia magazine.
Teams and players have until today’s deadline to come to an agreement on contract extensions for players who are entering the final year of their rookie scale contracts. Wroten, drafted 25th overall in the 2012 draft by the Memphis Grizzlies, falls into this category.
Wroten averaged 16.9 points, 5.2 assists, and 1.6 steals per game for the Sixers last season before undergoing surgery to repair a torn ACL last February. Wroten has yet to work his way back to the starting lineup so far this season.
The Sixers will have until June 30th to extend a qualifying offer to Wroten. Extending the qualifying offer, which would be a one-year contract worth just over $3.2 million, would make Wroten a restricted free agent next summer. Wroten would then have the option of accepting the qualifying offer, signing a new contract with the 76ers, or signing an offer sheet with another team. The Sixers would then have the option to match any offer sheet Wroten signs.
Extending the qualifying offer would eat into the Sixers available cap space next summer. The Sixers would have a cap hold of about $5.4 million for Wroten — 250% of the value of the 4th year of Wroten’s contract — until the Sixers renounced Wroten’s rights, Wroten signed the qualifying offer, or signed an offer sheet for a new contract.