Knicks Sign Jeffries to Offer Sheet

[ace3g]

By Ivan Carter
Washington Post Staff Writer
Friday, July 28, 2006; 6:06 PM


The New York Knicks signed restricted free agent guard/forward Jared Jeffries to an offer sheet this afternoon, according to NBA sources.

The Washington Wizards will have seven days to decide whether to match the offer. Team owner Abe Pollin, president of basketball operations Ernie Grunfeld and coach Eddie Jordan have all indicated a desire to retain Jeffries.

Terms of the offer sheet were not available. Jeffries has long been coveted by Isiah Thomas, New York president of basketball operations and head coach. Like Jeffries, Thomas starred at Indiana University.

The Wizards have 13 players under contract after the recent signing of free agent forward Darius Songaila to a five-year, $21 million contract, and have room under the NBA's luxury tax threshold to match the offer to Jeffries, according to sources.

Pollin has indicated that he is willing to spend up to, but not over, the luxury tax threshold $65.4 million. Teams with payrolls over the threshold pay a dollar-for-dollar penalty to the league on the amount of payroll that exceeds $65.4 million.

The most likely scenario, according to sources, is that the Wizards will use the full seven days before matching the offer sheet to retain Jeffries.

Jeffries was drafted by the Wizards with the 11th overall pick in 2002 and has posted averages of 6.1 points and 4.8 rebounds in four seasons while carving out a role as perhaps the team's best all-around defender.

Link (http://www.washingtonpost.com/wp-dyn/content/article/2006/07/28/AR2006072801323.html)

[timvp]

I guess this can help explain why the Knicks let Butler go.

[ChumpDumper]

I wonder how much it's for. Jeffries has value to Washington, but if it's an especially long deal they might pass. Keeping him around too long might hurt the development of Andray Blatche; if they ever find out how to use that guy he could be ten times the player Jeffries is. They may have been hoping he just took the QO.

[AFBlue]

That's pretty strange considering that the max the Knicks can offer him would be $5 mil a year (the MLE). I thought I read that in earlier negotiations w/ the Wizards and Jeffries they were "far apart" usually meaning that Jeffries valued himself higher ($8 to $10 mil deal; Dunleavy-type dollars) than the Wiz, but I guess NY gets a discount.

This should be an easy decision for the Wizards to match...they'll get to keep a young, athletic, and defensive-minded forward who can play three positions for $5 mil a year.

Bad move for Jeffries if he was hoping to get paid. Could've taken the 1-yr deal and become an unrestricted FA next year. Even w/ the big-name FA out there, he still would've gotten a bloated contract because he's "versatile"...a buzz-word and hot commodity in NBA today

[AFBlue]

Another thought is that the Knicks and Wizards will negotiate a Sign & Trade so that neither is the "loser" in this situation. The Wizards could take back Q-Rich who has 4 yrs left on his deal, is a power-guard and doesn't fit in w/ all the other Knick players.

The Knicks would win b/c they would get a defensive-minded role player that doesn't need to dominate the ball.

The Wizards would win b/c they would find the third scoring option they missed last year when Hughes left and Daniels was a big failure.

What do you think?

[exstatic]

Another thought is that the Knicks and Wizards will negotiate a Sign & Trade so that neither is the "loser" in this situation. The Wizards could take back Q-Rich who has 4 yrs left on his deal, is a power-guard and doesn't fit in w/ all the other Knick players.
The Wiz have two, and only two options as soon as Jeffries signed the sheet: match or let go. My guess is that Isaiah probably tried the S&T route, and Washington hated all of the Knicks contracts.

[ChumpDumper]

They could work out an S&T in theory, though to my knowledge that has never happened.

Washington would be the loser in that deal though. Q sucks and they'd be short a point guard. I'd rather get Crawford if I was going that route.

[AFBlue]

They could work out an S&T in theory, though to my knowledge that has never happened.

Washington would be the loser in that deal though. Q sucks and they'd be short a point guard. I'd rather get Crawford if I was going that route.


Hate to say it man, but Jeffries isn't a Point Guard, so I don't see how they'd be short.

[AFBlue]

The Wiz have two, and only two options as soon as Jeffries signed the sheet: match or let go. My guess is that Isaiah probably tried the S&T route, and Washington hated all of the Knicks contracts.

Yeah I think you're right...so what do you think they'll do?

[ChumpDumper]

Hate to say it man, but Jeffries isn't a Point Guard, so I don't see how they'd be short.:lol For some reason I thought Daniels was in that deal.

Q still sucks.

[AFBlue]

:lol For some reason I thought Daniels was in that deal.

Q still sucks.

Dunno if he sucks, but he's got to be in the right system and he isn't worth $7.5 million...in ANY system.

Yet another mistake by the Zeke the Genius...makes you wonder how someone could know SO much about basketball on the court and SO little off of it.

[Winnipeg_Spur]

So this makes Woods available, doesn't it (at least, if Washington doesn't match)? Any way he'd accept the LLE?

[exstatic]

Woods is available, regardless. He's not restricted, and can accept any offer immediately. NY doesn't have matching rights.

[ducks]

strange thought jeffries was going to sign a one year deal...

jeffries for the mle might be the only good contract the knicks would have if wizzards do not match

[JamStone]

Can't see the Wizards not matching an MLE contract, even if it's for five years and even if it puts them over the luxury tax. Jeffries for the MLE is a very fair contract and is movable if the Wizards decide to Jeffries isn't working out for them.

[Kori Ellis]

I don't think he's worth the full MLE, but it's better than the $60M he was asking for.

[Solid D]

I guess this can help explain why the Knicks let Butler go.

And to add/remind...the Knicks need another wing player, not another center, and they only have one slot left. Q-Woods, Ariza, and Jeffries fit that bill and now Ariza is re-upped in Orlando.

[ChumpDumper]

Restricted free agent Jared Jeffries signed an offer sheet with the New York Knicks yesterday, according to NBA sources. The offer covers five years and is worth around $30 million and uses the Knicks' mid-level exception -- a first-year salary of $5.2 million.

http://www.washingtonpost.com/wp-dyn/content/article/2006/07/28/AR2006072801323.html

So it is the whole shebangebang.

[Please_dont_ban_me]

Good shit.

Wish the Spurs could have landed him.

[timvp]

Jared Jeffries goes down as the most overhyped free agent of the summer by far.

[El_Mago]

Thats the contract I invisioned the Spurs offering Jeffries if they had planned on going that route. Almost similar to the contract Rajah Bell landed in Phoenix last year.

5 years at 21 million is not a bad deal at all for the Knicks...although to him it's nearly 42 million dollars.

Something tells me Washington matches....probably because it's a safer route than having him go big on a contract year and be nearly forced to give him anywhere from 40-60 million next year....as a free agent.

[El_Mago]

Never mind, I quickly read through the article and the 5 year 21 million dollar deal belongs to Songalia, not Jeffries.

Oh well.

[leemajors]

so i would guess they aren't gonna re-sign woods?

[AFBlue]

[QUOTE=El_Mago]5 years at 21 million is not a bad deal at all for the Knicks...although to him it's nearly 42 million dollars.[QUOTE]

You bring up a great point, even if you're number is off(which you noted). The Knicks just dedicated $60 million more dollars to their roster, because they're over the Luxury Tax limit and must to a dollar for dollar match. Maybe it's not a good move by the Knicks after all. Jeffries is worth the MLE, but not $10 mil a season for sure.

I think the Wizards are also near the Luxury Tax line, so this may be an issue for them too. And we've seen what team is most willing to pay outragous amounts of money to average talents in the past....I'll change my opinion and say the Wiz don't match.