Report: Wizards, Bradley Beal not progressing much on contract extension

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Bradley Beal and the Wizards have been talking about a contract extension.

How’s it going?

J. Michael of CSN Washington:

The Wizards and Bradley Beal don’t appear to be any closer to reaching terms on an extension — the window is open until the start of the 2015-16 regular season — with both sides downplaying to CSNwashington.com during the past few weeks about the progress of talks.

The good thing for them, of course, is that they haven’t shut down negotiations

Beal will make $5,694,674 next season. An extension would begin with the 2016-17 season.

He surely wants a max contract, and he might be worth one. But the Wizards have incentive to wait.

If Beal signs an extension now, his cap number at the beginning of next summer will be his 2016-17 salary. A max contract projects to have a starting salary of $20,947,250.

If Beal waits until next summer to sign, his initial cap hold will be $14,236,685. Then, Washington could use its cap space and then exceed the cap to re-sign Beal to up to a max deal.

That extra $6.7 million cap room could help ensure the Wizards have enough space for Kevin Durant. Plus, the remainder would come in handy, Washington with Durant would become an appealing destination to mid-level free agents.

Given that Beal would be a restricted free agent, there’s no risk he leaves next summer. The only risk is he’d sign a shorter offer sheet, allowing him to leave sooner, but that shouldn’t be a huge concern.

Of course, Beal doesn’t want to wait to sign. He has missed 54 games in three seasons, and another injury could torpedo his value.

There’s a lot to like about Beal, especially because the sharp-shooting guard is just 22. But the cap rules dictate the Wizards should wait to re-sign him – unless he’s will to sign an extension that starts at $14,236,685 or less (which should be a no-go for him) or give Washington savings in later years (maybe).

If he insists upon a max contract, the Wizards should wait. If he proves this season he deserves one, that’s a win for both sides – especially because that would give Washington a little extra cap room.