5-year contract could net Allen $100.5 million

[MavsFanFinley]

5-year contract could net Allen $100.5 million

By Percy Allen
Seattle Times staff reporter

Contrary to published reports, the Sonics have no intention of trading Ray Allen, their leading scorer and co-captain, and are working on a deal that will keep him in Seattle through the 2009-10 season.

General manager Rick Sund began conversations with Allen's agents about a five-year contract extension that could pay the four-time All-Star shooting guard as much as $100.5 million.

Sund characterized the discussions as "philosophical talks" that both sides intend to use as a guideline for what could be a lengthy and potentially cantankerous negotiation process.

Allen's agent, Lon Babby, is expected to fly to Seattle in two weeks to meet with the Sonics and exchange contract proposals.

"We're hopeful we can sit down and talk with Ray and get some type of extension done before next season," said Sund, who added there's no timetable.

According to a source familiar with the negotiations, the Sonics are willing to commit more than $70 million to Allen, who turned 29 last month, but the team is unsure if he's deserving of a maximum contract ($100.5 million).

Thirty-one of the roughly 410 players in the NBA have maximum contracts, but that number is dwindling as teams become more cost conscious.

Since the 2003-04 season concluded, free agents have collected close to $1 billion, but no one other than Kobe Bryant has been given a maximum deal that compares to what Allen could receive.

"You're going to see less and less of those $100 million contracts being thrown around," said a Western Conference GM. "Unless you're one of the handful of guys competing for the MVP (award), then (teams) have to ask themselves, is he worth it?"

Allen, who turned 29 last month, will earn $14.5 million next season. Since arriving in Seattle in a trade that shipped Gary Payton to Milwaukee in 2003, Allen averaged 24.5 points in 29 games two seasons ago and 23.0 points last season.

Because the collective bargaining agreement expires after the 2004-05 season, the uncertainty of the new agreement may push Allen to opt for the security of a guaranteed contract rather than a potentially more lucrative contract as an unrestricted free agent.

With an extension, Allen also wouldn't have to worry about a possible injury decreasing his value on the free-agent market. Last year, he missed 25 games because of ankle surgery.

The Sonics, with just $21 million in guaranteed salaries next season, would benefit from a deal because they would have a clearer definition of the team they're trying to build.

If the sides are unable to work out an agreement, then expect the Sonics to shop Allen near the trading deadline. If he were to finish the season in Seattle without an extension, then the team would have roughly $24 million in salary-cap money.

Still, the chances of those scenarios coming to fruition hinge upon the negotiations.

The recent trade rumors, such as a report in the Toronto Sun last week that quoted an unnamed source saying that Allen was interested in joining the Raptors, will have no bearing on the contract talks.

"As far as I can tell that's all interesting speculation," he said. "It's not based on anything that we're doing or that Ray's doing."

Babby, who also represents Luke Ridnour, said he has an amicable relationship with Sund. The two negotiated deals for Grant Hill and Jerome Williams when Sund was an executive with the Pistons.