UPDATE: Restricted free agent Quentin Grimes has officially signed a one-year, $8.7 million qualifying offer to return to the Philadelphia 76ers, according to his agent, David Bauman. This urgent development was confirmed just moments ago, as the clock ticked down on the qualifying offer deadline.
The 25-year-old guard, who averaged a career-high 14.6 points, 4.3 rebounds, and 3 assists last season, will gain the ability to veto all trades during the upcoming 2025-26 season. He is set to enter unrestricted free agency next summer, positioning him well as at least 10 teams are expected to have significant salary cap space available.
Earlier today, Bauman revealed that negotiations for a more lucrative contract had stalled. Initially, Grimes’ representation sought a deal in the $30 million range, later adjusting to between $20 million and $25 million. However, the two sides could not reach an agreement before the 11:59 p.m. ET deadline on September 27, 2023.
The 76ers made their first formal proposal on September 24, offering Grimes a four-year, $39 million contract. Days later, they presented a one-year, $8.8 million deal that included a $100,000 premium over the qualifying offer. Both proposals were turned down by Grimes’ camp.
In a strategic move, Grimes’ side proposed a new one-year offer at $17 million with the waiver of the no-trade clause, as well as a two-year deal worth $34 million that included a player option. The 76ers rejected both offers, indicating that their financial flexibility has been hampered by injury concerns surrounding key players like Joel Embiid and Jared McCain.
With McCain expected to miss four to six weeks due to a thumb surgery, Grimes is poised to take on a crucial role in the 76ers’ backcourt as the team prepares for the new season. Grimes had a standout performance last season, averaging 21.9 points and 4.5 assists in just 28 games after being traded from the Dallas Mavericks at the February trade deadline. He notably recorded five games scoring over 30 points and two games over 40 points.
As the last of the restricted free agents to finalize a deal, Grimes’ signing marks a significant moment for the 76ers, who also drafted VJ Edgecombe with the No. 3 pick in the recent NBA draft to enhance their backcourt depth. The team’s strategic choices and financial maneuvers will be closely monitored as they aim to retain Grimes while keeping options open for a potential sign-and-trade next summer.
This latest news is not only pivotal for the 76ers’ roster but also for Grimes’ future, emphasizing the urgency of his role within the team as training camps approach. Fans and analysts alike will be watching closely as the team navigates the upcoming season with high expectations and critical challenges ahead.
Stay tuned for more updates on this developing story!
