Report: Houston Rockets signing Jabari Smith Jr. to five-year, $122 million rookie extension

Jabari Smith Jr., through three pro seasons in Houston, has shown signs of being the elite talent earned him the No. 3 pick in the 2022 NBA Draft. He’ll now get the chance to continue that with the franchise that drafted the Auburn alum, avoiding free agency in the process.

Per ESPN’s Shams Charania, the Houston Rockets will be signing Smith to a rookie extension worth five-years, $122 million. That’ll keep him as part of the team through the start of the next decade in 2030-2031.

“Houston Rockets forward Jabari Smith Jr. intends to sign a five-year, $122 million rookie contract extension, sources tell ESPN,” Charania tweeted tonight. “Rockets officials and Smith’s agent, Wallace Prather of LIFT Sports Management, negotiated the fully guaranteed deal through 2030-31 season.”

Smith has averaged 13 points (43.2% FG, 34% 3PT), 7.5 rebounds, and 1.3 assists per game through three seasons with Houston. After an improved second season, those stats took a dip this past season to 12.2 points (43.8% FG, 35.4% 3PT), 7.0 rebounds and 1.1 assists per game. Part of that was injuries, namely a fracture in his left hand, as Smith only played in 57 games as the Rockets went 52-30 overall and finished as the No. 2 seed in the Western Conference.

Now, based on some of their other moves so far this offseason, Houston clearly sees Smith as a key part of their future. The Rockets didn’t include him as part of the trade package for Kevin Durant in their deal with Phoenix, instead sending out Jalen Green along with Dillon Brooks. That kept Smith as part of a young corps with Alperen Sengun, Amen Thompson, Tari Eason, Cam Whitmore, and Reed Sheppard who will now go into next season alongside Durant and Fred VanVleet, who, per Charania last week, has also re-signed on what is a two-year, $50 million deal. The Rockets also signed head coach Ime Udoka to an extension after his second season in Houston, per Charania. Altogether, it’s clear that this is the team that Houston wants to take into the next few seasons based on their moves in June.

Smith hasn’t yet fully lived up to his pedigree as a top-three pick, especially compared to those drafted ahead of him: Paolo Banchero and Chet Holmgren. That said, the Rockets must think that development is still coming for Smith, and locked him up to be part of their future in Houston.