Nets quietly pocket extra cap space after Cam Thomas signs QO

The Nets are walking away from their Cam Thomas negotiations with something to show for it. Namely, extra cap space.

By signing his one-year qualifying offer worth just under $6 million, Thomas slashes his cap hit in half. Brooklyn had been carrying a $12 million hold, so the paperwork frees up about $6 million more in flexibility, as Shams Charania of ESPN first reported.

The Nets had dangled multiyear options, including a two-year deal at roughly $14-15 million annually with a team option, and a one-year $9.5 million offer that could’ve reached $11 million with incentives.

But both would’ve limited Thomas’ leverage. Instead, he chose the qualifying offer, which not only gives him a de facto no-trade clause this season but also sets him up for unrestricted free agency in July 2026, when more than 10 teams are expected to have cap room.

Thomas, 23, can fill it up — he averaged 24 points and 3.8 assists last season — but only appeared in 25 games due to hamstring trouble. He’s been streaky as a shooter and isn’t viewed as a plus defender, factors that helped suppress his market despite the Nets owning unique cap space this summer.

For Brooklyn, the decision keeps the books clean. The team already re-signed Day’Ron Sharpe and Ziaire Williams to short-term deals and has been careful not to tie money down beyond 2025-26.

Thomas now joins Josh Giddey, Jonathan Kuminga and Quentin Grimes as the last remaining restricted free agents still sorting out their situations as camp approaches.