Money flows freely as free agency hits stride
Grizzlies retain Conley with $ 153 - million deal, largest in league history> Horford chooses Celtics
It was after my fourth, maybe fifth, college economics course that I realized the world of finance wasn’t for me.
So bear with me as I try to grasp the current NBA spending spree, the one that has made a mega-millionaire out of Bismack Biyombo and thrust Mike Conley into the same tax bracket as Oprah.
The problem isn’t the money. If the owners have it, let them spend it.
It’s is more the dollar-per-value amount that teams seem to be investing in, a rates that boggle the mind when you consider the caliber of players being signed.
It is with that notion in mind that the Memphis Grizzlies shot off fireworks at the start of the Fourth of July weekend with the signings of point guard Mike Conley and forward Chandler Parsons.
In agreeing to re-sign Conley to a fiveyear, maximum deal worth $153 million – the largest overall contract in NBA history – the Griz kept their Core Four intact for at least another season. The commitment to Conley also signals the franchise’s desire to build a future around the 2007 firstround draft pick and center Marc Gasol.
Adding Parsons addressed the overdue need for shooting and playmaking on the wing. Parsons spurned the Portland Trail Blazers’ max offer and agreed to join Memphis with a four-year, nearly $95 million deal.
It’s difficult to say another team had a better first day of free agency than the Grizzlies. They landed a highly coveted free agent and shooter in Parsons and retained a homegrown pillar of the franchise in Conley.
Teams could only negotiate and agree in principle beginning last Friday. Players can officially sign contracts Thursday. The Griz swiftly dispelled any notion that they can’t lure top free agents, are cheap and are rebuilding.
Ultimately, though, the decisions on Conley and Parsons only matter on the basketball court.
How will Parsons fit? The 6-10 forward essentially gives the Griz a Big Three playing alongside Conley and Gasol for at least the next four years. Parsons, 27, is a career 38-percent three-point shooter who also is a playmaker who will allow Conley to play more off the ball. He is versatile enough to play both forward positions and the Griz have put a premium on surrounding Conley and Gasol with interchangeable players.
The downside is Parsons’ history of knee injuries that limited him to playing in one of 11 playoff games for the Dallas Mavericks.
How much could these signings elevate the Griz in the Western Conference? There is no doubt that with Conley, Parsons and a healthy Gasol, the Griz can be competitive in today’s NBA. They were clearly positioned to be among the Western Conference’s top five teams until injuries weakened the Griz late during the 2015-16 regular season.
Memphis reportedly had been interested in free-agent guard Eric Gordon, who last played for New Orleans. But the shooting guard agreed to terms Saturday with the Houston Rockets. The 27-year-old Gordon agreed on a four-year, $53 million contract.
In other news, veteran center Al Horford agreed to a four-year, $113 million contract with the Boston Celtics on Saturday night.
Horford announced his decision on his Twitter account: “Celtic Pride !!!!!! ” he tweeted, followed by 18 green shamrocks.
Horford, a four-time All-Star, spent his first nine seasons with the Atlanta Hawks. He has career averages of 14.3 points and 7.9 rebounds and averaged 15.2 points and 7.3 rebounds last season. Horford was part of a 60-win Atlanta team two seasons ago and is seen as the type of player who can help the Celtics rise up to perhaps challenge the Cleveland Cavaliers as the top team in the Eastern Conference.
Also, free-agent forward Luol Deng agreed to a four-year, $72 million deal with the Los Angeles Lakers.
Deng had significant discussions with several teams, including the Washington Wizards and Utah Jazz, before committing to the Lakers. Deng, 31, averaged 12.3 points, 6.0 rebounds and 1.9 assists in 74 games for the Miami Heat last season.
The Houston Rockets, meanwhile, reached agreement on a four-year, $80 million deal with forward Ryan Anderson.
Anderson, 28, averaged 17.0 points and 6.0 rebounds in 66 games for the New Orleans Pelicans last season. He has career marks of 13.1 points and 5.6 rebounds in eight NBA seasons.