In a move that signals their intent this summer, the Houston Rockets have elected to make Chandler Parsons a free agent this summer. By turning down the option on the last year of his contract the Rockets have cleared roughly $1 million worth of cap space in hope to lure one of the big names available this summer to Houston.
The Rockets have told Chandler Parsons they have officially declined his 4th-year option next season thus making him a RFA, a source said.— Marc J. Spears (@SpearsNBAYahoo) June 28, 2014
Parsons will now become a restricted free agent, meaning that the Rockets can match any offer made to Parsons by another team and keep hold of their young small forward. This task, however, may prove difficult.
After being selected with the 38th pick of the 2011 NBA Draft, Parsons quickly proved to be one of the draft’s biggest sleepers. In just his 3rd year, Parsons averaged 16.6 points, 5.5 rebounds and 4.0 assists per game last season, making him one of the most undervalued assets in the NBA. This won’t happen again, however.
Teams unable to lure the biggest free agents to their town will be more than willing to throw big bucks at Parsons. One can easily imagine Parsons making upwards of $10 million next year.
Unfortunately, this was probably a necessity for the Rockets, who would have loved to be paying Parsons less than $1 million next year. If they’d taken up his player option he would have become an unrestricted free agent at the end of next year, allowing him leave with the Rockets receiving nothing in return.
This way the Rockets can hope to re-sign Parsons or use him as a trade piece, most likely to feature in their pursuit of Minnesota’s Kevin Love.
As usual the Rockets are about to get busy during free agency and this move indicated just how active they might be this summer.