"We had a unique opportunity to enter into discussions with Kendrick to solidify his future with our organization," general manager Sam Presti said in a statement. "We are pleased to know that he will be a part of our core group now and in the future. Kendrick's blue-collar, team-first approach aligns with the vision we hold for building a sustainable team in the Oklahoma City community."
Click HERE to read more on the extension.
--Forsberg's analysis: As part of Thursday's deadline deal that sent Perkins and Nate Robinson to Oklahoma City in exchange for Jeff Green and Nenad Krstic, the Thunder trimmed a tiny bit of cap space (a little over a $1 million), which gave them just enough additional wiggle room to help hammer out a contract extension with Perkins. With Boston over the salary cap, the team couldn't offer more than a four-year, $22 million extension this season, while Oklahoma City was able to use that small cap space to offer Perkins as much as $13 million more on a four-year deal (For a more detailed explanation, hop HERE).
Here's the key passage from Larry Coon's CBA FAQ explaining how this works:
Only teams under the cap can renegotiate a contract, and the salary in the then-current season can be increased only to the extent that the team has room under the cap. Raises in subsequent years are limited to 10.5 percent of the salary in the first renegotiated season. The renegotiation may not contain a signing bonus.
Kudos to Oklahoma City for getting a deal done, not only facing the prospect that Perkins could test the free-agent waters after this season, but facing a March 1 deadline to get this extension done. Could Perkins have landed more money this offseason? Certainly. Would it have been with a team like Oklahoma City that's positioned to be a contender for the foreseeable future? Probably not. Plus, Perkins gets the security of a long-term extension with an uncertain labor forecast (and potential lockout) looming. It's a win for both sides.