P.J. Washington has signed a three-year $48M deal to remain with the Charlotte Hornets, as reported by ESPN's Adrian Wojnarowski.
Restricted free agent F PJ Washington has agreed on a new three-year, $48 million contract to stay with the Charlotte Hornets, @LiftSportsMngmt agent Kevin Bradbury and Washington Sports Group’s Paul Washington Sr. tell ESPN. pic.twitter.com/tNoEfhPkeZ
— Adrian Wojnarowski (@wojespn) August 26, 2023
Entering the offseason, Washington was expected to draw significant interest. However, the contract offers never came. As such, both the Hornets and Washington appeared to be in limbo.
After enjoying a breakout 2022-23 NBA season, where Washington started 73 games, the belief was that Charlotte would match any offer sheet the restricted free agent signed.
Instead, Charlotte and Washington found themselves in a standoff. With training camp right around the corner, there was a legitimate risk Washington could opt into his qualifying offer to become an unrestricted free agent in 2024.
Nevertheless, the two sides found a deal that is fair for both parties. Washington can continue to develop alongside a young and exciting Hornets team. While Charlotte keeps one of their most impactful players.
Both the Hornets and Washington are hoping to continue improving in the coming years. Last season, the Hornets finished dead-last in Offensive Rating despite Washington being a solid three-and-D contributor.
With an offseason to improve, and multiple players returning from injury and suspension, the Hornets will be hoping to make a push for the playoffs. If Washington can play a big part in that push while cementing his place within the starting five, he will be in a much stronger position to attract interest when he next hits the free-agent market.
More must-reads:
Get the latest news and rumors, customized to your favorite sports and teams. Emailed daily. Always free!