Ludden: Spurs, Parker agree at 11th hour

[Solid D]

http://www.mysanantonio.com/sports/basketball/nba/spurs/stories/MYSA110204.1C.parker.168d3a5e.html

Spurs, Parker agree at 11th hour
Web Posted: 11/02/2004 12:00 AM CST

Johnny Ludden
San Antonio Express-News

The Spurs reached agreement with Tony Parker on a six-year, $66 million contract extension with less than two hours remaining before the NBA's deadline Monday night.

The NBA had to approve the contract by 11 p.m. Monday or Parker would have been a restricted free agent at the end of the season. Following Monday's practice, Spurs coach Gregg Popovich informed Parker that franchise chairman Peter Holt had agreed to improve the team's offer from $64 million to $66 million.

Parker, who had privately told Popovich a week ago that he would likely compromise at $66 million, agreed to the financial terms. The two sides were still negotiating the structure of the deal late Monday evening.

Parker's contract matches the six-year, $66 million deal David Robinson received in 1995 as the second-largest in franchise history. Tim Duncan signed a seven-year, $122 million deal in July 2003.

By extending Parker's contract, the Spurs locked up the core of their team for the foreseeable future. Duncan and Manu Ginobili, who signed a six-year, $52 million deal in July, are under contract through the 2009-10 season. Rasho Nesterovic and Malik Rose have contracts that run another five seasons. Brent Barry recently signed a four-year, $21 million deal and Bruce Bowen is signed for at least three more seasons.

Though the Spurs and Parker appeared to be only $2 million apart, negotiations hit an impasse the middle of last week when Holt declined to increase the team's $64 million offer. On Friday, Popovich said he was disappointed with the decision and urged Holt to reconsider.

Worth noting: The Spurs on Monday placed three players on the injured list to get down to the NBA-mandated 12-man active roster for opening night of the regular season. Power forward-center Sean Marks (lower back spasms), forward Linton Johnson III (sprained left ankle) and guard Romain Sato (left patella tendinitis) went on the list. Marks and Johnson missed all seven preseason games.
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Staff writer Mike Monroe contributed to this report.

[Kori Ellis]

Here's the updated version with a lot more detail.

Spurs, Parker agree at 11th hour
Web Posted: 11/02/2004 12:33 AM CST

Johnny Ludden
San Antonio Express-News

Tony Parker strolled into the Spurs' practice facility a little past 9:30 p.m. Monday and put pen to paper on a six-year, $66 million contract extension, ending an unusual final 12 hours of negotiations that began with coach Gregg Popovich aggressively lobbying ownership on behalf of the point guard.

Parker agreed to the extension, which will keep him under contract through the 2010-11 season, less than three hours before the NBA deadline expired. Had the Spurs not extended Parker's contract Monday, he would have become a restricted free agent at the end of the season.

"I'm thrilled," Popovich said. "This gives everybody a sense of security and family to know our core group is going to be here a long time. Credit (Spurs chairman) Peter Holt to be open enough and objective enough to listen to us so many times. Most people would have shut us out."

Holt had been reluctant to increase the team's $64 million offer, causing negotiations to hit an impasse the middle of last week. On Friday, Popovich said he was disappointed with the decision and urged Holt to reconsider. Holt denied the request.

Spurs officials and Parker both thought any chance of striking a deal had passed until Popovich intervened one final time Monday morning and implored Holt to improve the offer. Tim Duncan also had told Popovich the team would be better off signing Parker now then trying to wait until next summer.

"Timmy let me know how important he thinks Tony is to the program," Popovich said, "and that the sooner we're all together the better."

Following Monday's practice, Popovich informed Parker that Holt had agreed to $66 million. Parker, who had privately told Popovich a week ago that he would likely compromise at $66 million, agreed to the financial terms and prematurely announced the agreement as "a done deal" on his Web site Monday afternoon.

Holt "had no other option and had to fold under the fire he was facing," Parker wrote.

Despite Parker's exuberance, Spurs general manager R.C. Buford and Parker's agent, Marc Fleisher, continued to disagree on how the deal should be structured until late Monday. Fleisher wanted to include a trade kicker and an early opt-out clause in the contract before deferring to Parker, who waived both requests after having dinner with Spurs scouting director Lance Blanks.

A little past 8:15 p.m., one Spurs official said he was pessimistic the deal would get done.

"I'm happy because Tony's happy," Fleisher said. "He's looking forward to trying to win another championship with the Spurs.

"I think he's happy this has passed. It was getting a little harried there in the end."

Parker's contract matches the six-year, $66 million deal David Robinson received in 1995 as the second-largest in franchise history. Tim Duncan signed a seven-year, $122 million deal in July 2003.

Parker will earn $1.5 million this season in the final year of his rookie contract. His salary will jump to more than $8 million for the 2005-06 season.

Holt said Saturday he was reluctant to make a larger offer because the NBA's collective bargaining agreement expires at the end of the season and he could not accurately project the franchise's financial future. At the same time he conceded he might have to pay significantly more next summer to keep Parker.

"I think Peter is in the toughest position because he doesn't know the (new CBA) rules yet and this (contract) is a lot of money," Popovich said. "He waited a long time and kept listening to input. In the end, he thought it was the best thing to do because he's also excited about Tony and his future. We all reached this decision together."

By extending Parker's contract, the Spurs locked up the core of their team for the foreseeable future. Duncan and Manu Ginobili, who signed a six-year, $52 million deal in July, are under contract through the 2009-10 season. Rasho Nesterovic and Malik Rose have contracts that run another five seasons. Brent Barry recently signed a four-year, $21 million deal and Bruce Bowen is signed for at least three more seasons.

With the Spurs set to open the season against Sacramento on Wednesday, Popovich is glad to have his starting point guard re-focused.

"I think in the last few days Tony has been really frazzled, confused and nervous about what he should do: Do I wait? Do I take this deal?" Popovich said. "When you're doing that all day and all night, you're 22, and the season is upon you, it wears on you. I think it would have continued to wear on him during the season in ways he couldn't fathom.

"Now he's got to be the freest feeling guy in the world."

Worth noting: The Spurs on Monday placed three players on the injured list to get down to the NBA-mandated 12-man active roster for opening night of the regular season. Power forward-center Sean Marks (lower back spasms), forward Linton Johnson III (sprained left ankle) and guard Romain Sato (left patella tendinitis) went on the list. Marks and Johnson missed all seven preseason games.

[Kori Ellis]

Despite Parker's exuberance, Spurs general manager R.C. Buford and Parker's agent, Marc Fleisher, continued to disagree on how the deal should be structured until late Monday. Fleisher wanted to include a trade kicker and an early opt-out clause in the contract before deferring to Parker, who waived both requests after having dinner with Spurs scouting director Lance Blanks.

A little past 8:15 p.m., one Spurs official said he was pessimistic the deal would get done.

Good job, Tony.

[shyne]

ya tony made a man's decsion, our boy is growning up

[timvp]

Welcome, shyne.

That song featuring Barrington Levy was tight.

:fro

[pooh]

perhaps the spurs made a deal with the devil...6 yrs..66 mil. 666 :)

[dcole50]

This made my day. I have a great feeling about the Spurs this season and for seasons to come.

:)

[coachtf]

I hope Pop will get some credit for his move in the media. Pop is not the type of guy who likes to go public with things but he realized that Holt was making a HUGE MISTAKE. Tony Parker will be an all-star very soon and he will one day be recognized as one of the very best to ever wear the silver and black.

[Solid D]

True, although it could have also been a "good-cop, bad-cop" scenario blended with a lesson out of Negotiating 101 textbook - Don't give them your last offer too soon. Holt was born at night but not last night.