It’s official: Hornets reach extension deal with Jeremy Lamb

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We told you yesterday this was close; now it is official.

The Charlotte Hornets have signed swingman Jeremy Lamb to a contract extension, the team announced Monday. This is a three-year, $21 million extension that makes sense for Charlotte — $7 million a year is what the seventh or eighth guy on the bench will make is two years (because the salary cap is spiking), if they think he can be that or better they are smart to lock him up now.

“We were thrilled with the opportunity to add Jeremy Lamb to our roster this past summer,” Hornets GM Rich Cho said in a released statement. “Through the preseason and start of our regular season, Jeremy has proven to be the type of player and professional we seek here in Charlotte.  We’re excited to have him as a part of the Hornets for years to come.”

Lamb is athletic, can defend, and can shoot the three — he can play behind Michael Kidd-Gilchrist (when he gets back next season) and provide some versatility and depth. With this Lamb will count a little less against the cap next July (less than $1 million) as the Hornets go free agent hunting.

As expected, Charlotte also exercised its team option on Cody Zeller.

“We are excited to keep Cody Zeller as a part of our core for another season,” Cho said.  “We have been very pleased with Cody’s development on both ends of the floor and look forward to him continuing to expand his game as a member of our roster.”