With the NBA’s 2023 free agency period opening Friday, June 30, at 5:00 p.m. Central, that makes Thursday the last day for teams and players around the league to make decisions on player contracts that either have options for next season or a potential qualifying offer.
For Houston, the biggest decision involved fourth-year forward KJ Martin, who had a team option for 2023-24 at only $1.9 million. Picking up that option and keeping him on his existing deal carries the risk of allowing him to become an unrestricted free agent in 2024, but it maximizes Houston’s 2023 cap space due to that lower figure. Picking up the option also keeps him trade eligible this summer.
An athletic 22-year-old forward, Martin averaged 12.7 points (56.9% FG) and 5.5 rebounds in 28.0 minutes per game last season.
Had the Rockets declined that option, it would have made Martin a restricted free agent this summer while putting a larger “cap hold” on Houston’s offseason books, relative to his actual salary. That would slightly decrease Houston’s spending potential in 2023 free agency.
The upside to that scenario is that it might have boosted the odds of keeping Martin long-term, since — similar to Jae’Sean Tate one year ago — general manager Rafael Stone would be in a better long-term negotiating position if he could leverage paying Martin a year early and perhaps use that restricted status to scare away other suitors.
It’s also possible that a longer-term deal might make Martin even more of a trade commodity though it would remove him from the trade market for six months due to signing a new contract.
Ultimately, the Rockets decided to pick up Martin’s option year, which keeps him on the books at a lower figure and also maintains his eligibility to be traded this offseason. Read on for a look at all the details, along with other related option-deadline decisions made with players such as Daishen Nix, Darius Days, and Trevor Hudgins.
Reasons to pick up KJ Martin’s option
This move seemed inevitable to me. HOU wants to spend its cap room elsewhere this summer. Plus, they can always agree to an extension with Martin later. Most importantly, however, this keeps Martin *trade-eligible* this summer. https://t.co/M8hO0fjvLr
— David Weiner (@BimaThug) June 29, 2023
Kenyon Martin Jr. could immediately be traded now that his $1.9M option has been picked up.
He could also be a renegotiation and extension candidate if the Rockets have some cap space leftover. https://t.co/8WYYg0unrR
— Yossi Gozlan (@YossiGozlan) June 29, 2023
Impact on 2023 salary cap
Picking up the option (sort of) created more cap room for the #Rockets, since the alternative would've been to decline the option & extend Martin a QO. Since Martin met the Starter Criteria last season, his QO (& cap hold) would've been $6M+.
Yes, Martin will be a UFA in 2024. https://t.co/Sgg63nGBoC
— David Weiner (@BimaThug) June 29, 2023
KJ Martin trade considerations for Rockets
The Rocket are going to want a haul if they are to trade Martin. Some teams may think he'd be an easy guy to trade for because he was the 52nd pick in the draft, but the Rockets view him as a versatile 22-year old who is one of the 10 best players in his class
— Adam Spolane (@AdamSpolane) June 29, 2023
They can do an extension, yes. If he’s traded after July 1, the new extension rules will allow it right away (assuming they take a reasonable amount). Any acquiring team would inherit his full Bird rights. As for a RENEGOTIATION, that team would need to have cap room to do one.
— David Weiner (@BimaThug) June 29, 2023
Future of Darius Days, Trevor Hudgins
While the QO itself is only a two-way contract, each of Days & Hudgins will carry a $1.8M cap hold into this summer until they accept the QO or leave for another team. HOU has until July 13 to unilaterally pull the QO if they need the cap room. https://t.co/wJTDlC6pd7
— David Weiner (@BimaThug) June 29, 2023
Daishen Nix waived
The Houston Rockets are waiving guard Daishen Nix, sources tell @TheAthletic.
— Kelly Iko (@KellyIko) June 29, 2023
