Mavericks forward's extension shows decreasing value of cap space

The Mavericks extended forward Washington through the 2029-30 season with a four-year, $90M contract. Though the 27-year-old seemingly plays the same position as No. 1 overall pick Cooper Flagg, the Mavericks chose to lock in Washington long-term rather than use his expiring contract.

That's part of a growing trend in the NBA, where the 2023 CBA's restrictions on payroll have effectively acted as a hard cap on earnings. Teams can use exceptions to go over the cap, but with a myriad of ways that a franchise can have their payrolls restricted at the levels of the first or second luxury tax apron, there's far less money available for free agents.

No All-Stars are changing teams in free agency

That's why players, teams and agents have focused on extending players near the end of their current contracts. This summer, the best player to change teams as a free agent was Myles Turner, who signed with the Milwaukee Bucks. Turner is a solid center who shoots threes and blocks shots and has nonetheless never made an All-Star team nor come particularly close.

The Mavericks may have a roster that's much old than Flagg, who doesn't turn 19 until Dec. 21. But even though Washington's new deal puts the Mavericks within $4M of the second luxury cap apron next year, it's still better for them to secure the quality player now and figure out what to do with the shape of the roster later, since cap space is so much less valuable.

Daniel Gafford agreed to a similar extension earlier this summer for three years and $54.2M, even though the Mavericks also have centers Dereck Lively II and Anthony Davis. The Mavericks may have a roster that's overloaded with big men and short on guards — D'Angelo Russell is the team's lone true point guard while Kyrie Irving rehabs his torn ACL — but the Mavericks are betting on securing talent now and figuring out trades later.

Washington averaged 14.7 points and shot 38.1% last season while playing solid defense, so he's certainly earned his contract. But don't be surprised if he, Gafford or one of the other frontcourt options like Naji Marshall or Caleb Martin end up traded for a guard in the near future.

After all, it's going to be very hard to find those quality guards on the free-agent market in the new CBA environment.