Jason Terry said he was close to re-signing with the Rockets, but that was also around the time they renounced him.
Houston can still re-sign the guard. It will just take a cap exception other than a Bird exception to do so. The Rockets have two exceptions available:
- The part of the mid-level exception not already used on K.J. McDaniels ($2,274,206)
- The minimum-salary exception ($1,499,187)
Using any of the mid-level exception would push Houston past the non-taxpayer level and into the taxpayer level – triggering the hard cap. I doubt Daryl Morey wants to be bound by that restriction, which would limit his ability to make a big splash during the season
So, you can bet the Rockets are offering just the minimum-salary exception. I figured that would have been enough, given Houston’s title chances and proven ability to put Terry in position to succeed.
Alas, he sees it differently.
Marc Berman of Fox 26:
The Pelicans, already hard-capped, can offer the bi-annual exception ($2,139,000). It’s unlikely the hard cap – even with Terry in the fold – would significantly restrict New Orleans to the degree it would Houston.
Besides, the Pelicans really need Terry. They’re mighty thin behind Jrue Holiday and Eric Gordon, both of whom have faced significant injuries in recent years. Even re-signing restricted free agent Norris Cole wouldn’t alleviate New Orleans’ backcourt depth concerns – and he’s not re-signed yet. Terry, a combo guard, would give the Pelicans flexibility to prioritize help at either backcourt position.
The Rockets – with James Harden, Ty Lawson, Patrick Beverley and Marcus Thornton – aren’t nearly as needy at guard. Houston will almost certainly sign another point guard, and Terry is probably the first choice. But if Terry won’t accept a minimum salary, the Rockets would likely let him walk and find someone who will.