Did some digging as I was intrigued in the GDT to look up where the 2 year extension rumor may have come from, because as the FO has had their errors, they can't be this dumb (lol)
https://www.mavsmoneyball.com/2022/6...n-new-contract
"When a player is traded the team acquiring them has limitations as to what extension they can offer for the first 6 months AFTER the trade. The extend-and-trade rules limit how long the extension can be and how big the raises can be. The limit is three seasons INCLUDING the years still on the contract. We saw a max extension under the extend-and-trade rules with Jonas Valančiūnas and the Pelicans in the 2021 off-season. Valančiūnas got extended at the most the Pelicans could offer. The Pelicans took his 2021-22 contract and gave him the max 5% bump on that for his 2022-23 year and then gave the max 5% raise for the 2023-24 year. Let?s look at what it would look like for the Mavericks to offer Wood that same max extension. It works out to a max extension of 2 years $30,818,331."
They very well could have come from the Mavs offering all they could prior to the extension rules opening up to 4+ years. This article does a good job breaking down the different scenarios with respect to re-signing Wood. I have a good feeling they'll get the 4/$77MM done quickly unless Wood decides he's better off waiting until the offseason. Even then, the Mavs would have Bird Rights but would have to pay up.