In what looks like a very easy decision, the Atlanta Hawks elected to match the Memphis Grizzlies’ offer to Josh Smith. The deal “is believed” to be for five years and $58 million.
I estimated Smith’s value to be $13-$14 million per season, so if the Grizzlies’ offer was indeed for that reported length and total compensation, they did the Hawks a favor by enabling them to lock Smith up for less than $12 million per season without having to go through the rigmarole of a contract negotiation.
The Memphis Edge (blog) is reporting that, according to NBA sources, the Memphis Grizzlies have sent Josh Smith an offer sheet worth $58 million.
As the only team left with significant room under the salary cap, the Griz have shifted out of a summer holding pattern and targeted the versatile 6-9, 235-pound forward.
Atlanta has seven days to match, per league rules, once Smith receives the offer sheet.
The Hawks have said they would match any contract offer to the 22-year-old Smith, but are on the hook next season with big contracts for Mike Bibby and Joe Johnson.
Should the Griz land Smith he is expected to play power forward alongside Rudy Gay at small forward, O.J. Mayo at shooting guard and Mike Conley at point guard.
The length of the contract is unkown, but that sounds like a four-year deal to me. If it were five years in length, it would average less than $12 million per season, and the Hawks are likely to match that. In a recent post, What Are These Guys Worth?, I estimated J-Smoov’s value to be $13.0-$14.0 million per season. On a four-year deal, that would total $52-$56 million.
That Conley-Mayo-Gay-Smith lineup has some serious potential, that’s for sure. The Grizzlies should be congratulated for at least making a move on Smith. It was about time that they tried to spend some of that cap space.
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