Paul Millsap seeking five-year, US$207 million contract from Atlanta Hawks

Paul Millsap, who owns a US$21.4 million (AU$28 million) Player Option for the 2017-18 season, is expected to opt out and pursue a five-year max contract from the Atlanta Hawks this offseason. While the Hawks are eligible to sign Millsap to a five-year extension worth US$207 million (AU$271 million), rival suitors can offer the defensive ace a four-year, max contract worth US$154 million (AU$202 million).

It’s highly unlikely that Millsap would opt into his Player Option. The forthcoming free agency period provides the 32-year-old Millsap his final opportunity to cash in on a lucrative contract, a year after former teammate Al Horford signed a max-level deal with the Boston Celtics. Horford left nearly US$30 million (AU$39 million) on the table to go elsewhere, a move that Millsap could be forced to consider if Atlanta refuses to max him out in July.

When Millsap signed a three-year, US$60 million (AU$78 million) contract extension in 2015, he did so with the intention of becoming a free agent in 2017, essentially to capitalise on the NBA’s rising salary cap. By signing a fresh contract with the Hawks, Millsap would receive a near 7.5 percent raise over the ensuing four years, and nearly a 4.5 percent pay hike over the next three years if he bolts to another team. Either way, the four-time All-Star is in for a huge pay day this summer.

Paul Millsap Free Agency: Hawks wants to retain forward

Mike Budenholzer, coach of the Hawks, told the Atlanta Journal-Constitution last month that Millsap would stay put in Atlanta for years to come. “He’s not going anywhere. You can write that,” said Budenholzer, who also doubles up as president of basketball operations for the Eastern Conference team. At the time, Budenholzer was addressing the chatter surrounding Hawks potentially moving Millsap before the NBA trade deadline. However, it seems like the Hawks has no intention of going through with a Paul Millsap trade.

At the time, Millsap thanked Budenholzer for not trading him. “Bud has been a man of his word. He has always shot it straight with me, always been honest with me. I take his word for what it is. It’s refreshing to know I’m not going anywhere and I’ll be on this team until the end of the year. Now, I’ve got to make it work. Stick to basketball and try to get wins.”

Paul Millsap is averaging 18.1 points and 7.7 rebounds in his eleventh NBA season. While general managers around the league could be worried to give a 32-year-old a maximum-level contract, Millsap is expected to get paid this summer mainly due to the new CBA and rising salary cap.