UPDATE: Henderson has possibly become too expensive for Charlotte « Queen City Hoops

UPDATE: Henderson has possibly become too expensive for Charlotte

As you can see below, when I posted on Tuesday, we have arrived at the place that Chris Broussard first got the track on and I suspected the market may be too much for Charlotte right now.

Gerald Henderson’s camp is reportedly asking for $7.5-8.5mil/year and Charlotte isn’t buying that as his true value.

Here’s what Adrian Wojnarowski of Yahoo Sports had to say about the current situation –

Henderson, 25, is one of the NBA’s emerging young shooting guards, but Charlotte has been reluctant to offer him a market value that could push into the $7.5 million to $8.5 million range, front-office sources said.

Charlotte started pursuing free agent Monta Ellis earlier in the week, fearing it would struggle to come to terms with Henderson, sources said. Bobcats president Rod Higgins drafted Ellis with the Golden State Warriors and has remained fond of him.

Now the Bobcats find themselves in a place that they wouldn’t have thought before free agency began. The front office apparently didn’t expect the market to become as bloated as it has for SG’s — otherwise, it seems likely that the team would’ve renounced the rights to Gerald Henderson and gone fishing for another SG earlier in free agency. Instead, the team was preoccupied on signing Al Jefferson, which they did, but now find themselves in a predicament and may have to overpay no matter who the SG is that ultimately ends up on the roster.

So, now the scenario in which Monta Ellis ends up in Charlotte resurfaces, but it’ll be through a sign-and-trade with Henderson.

Currently, without Hendo’s qualifying offer factored in, the Bobcats are about $7.6mil under the salary cap — that doesn’t leave the space to sign Hendo or Ellis, so the front office is now forced to get creative in order to land a SG. Or, let Hendo walk, live with Ben Gordon and Jeffery Taylor at SG and hope to get lucky with someone in summer league to round out depth at SG position.

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To the surprise of most, Chris Broussard has informed us that the Bobcats are one of four teams that Monta Ellis is considering signing with as free agency comes to the home stretch.

Ellis turned down a contract extension offer from Milwaukee that would have paid him $36 million over the next three seasons — in doing that, he took a huge risk. It now appears that Atlanta, Sacramento, Dallas and Charlotte are all at least interested in entertaining the idea of paying Ellis close to what he is hoping for ($12mil).

Okay, now everyone breathe and pump the breaks for a second. For Charlotte, this is likely more of an ‘if’ scenario than anything — as to say that in an emergency when the team misses out on re-signing on Henderson, they’d try to shuffle the deck on the roster + attempt to make room under the salary cap for Ellis.

Broussard adds this about the priorities for Charlotte at SG –

Charlotte, which already has made a big free-agent signing in acquiring Al Jefferson, is waiting on word from their shooting guard, Gerald Henderson. If they are able to retain Henderson, they’ll move on from Ellis. If not, the Bobcats may try to move some players in order to create room to sign Ellis.

I still find it hard to believe that Hendo won’t end up back in Charlotte, but the fact that getting him resigned is taking so long does tell us that his market is being driven up. O.J. Mayo and Kevin Martin have both scored deals this free agency period that will pay them just north of $7mil/annually, so there that to go off of when trying to decipher what teams are willing to pay for Hendo. Hard to determine what the Bobcats cut-off number is financially to bring Hendo back, but one thing remains certain — the team needs a starting SG not named Ben Gordon.

4 comments to UPDATE: Henderson has possibly become too expensive for Charlotte

  • if i could comment i woulds say Mayo’s deal specifically tells us Hendo is worth between 5 and 6 mill annually, a good deal for him IMO and he should not go mcuh higher then that, but he was smart also in waiting for others to go off the board 1st driving up his stock, since SG is a very poor position in the NBA currently, so many point guards that would have been 2 guards just 10 years ago has really changed the NBA….now non of this will be seen and thus i;m just rambling to myself in hope that someone will fix this issue

  • [...] RUMOR: Monta Ellis to Bobcats possible, but Henderson remains first priority 5:34 pm July 9, 2013 / Leave a comment [...]

  • Justin Voss

    The Cats just don’t have the defensive strength to put Ellis in their line-up. Sure, maybe they would need to get creative in order to move Gordon from their roster to accommodate Ellis but there’s no real upgrade, in my eyes, in Ellis becoming a Cat. They’re better off getting Henderson’s signature and developing the talent they have to see what this coming season can bring them in next year’s draft.

    Henderson fits out remaining budget and is a better fit for the team. Outside of that who else could they possible get on their list?

    Gary Neal? Unlikely San Antonio won’t keep him. Nick Young? There’s really not many other options. They’re better off holding onto Henderson, using Gordon’s expiring contract to be a player in the Free Agent proceedings of next year either as trade bait for a team lurking on expiring contracts OR just to free up some cap space to make a charge at a Free Agent themselves.

  • Dan

    I’m not a big fan of this rumor. If we would bring somebody like Monta on board it would really make me feel like the administration are trying to make franchise players out of non-franchise-caliber players, ie: Big Al. I think most of us would prefer to keep Hendo so this may not be a bad backup plan for the short term.