Paul George Eligible For Contract Restructuring On Sept. 25

Paul George won’t be a free agent until 2018. However, in a week’s time, he has the chance to extend his stay in Indiana and give Pacers faithful the news they’ve been wanting to hear. Will George pull a James Harden and shelve free agency?

Paul George, one of the best two-way players in basketball, is eligible for contract renegotiation with the Indiana Pacers on Sept. 25.

George has two options: Make a long-term commitment to Indiana and surpass Reggie Miller as the greatest Pacer ever, or simply wait until the summer of 2018 to re-evaluate his future.

Despite all their offseason moves, the Pacers have nearly $6 million left in cap space – enough to upgrade George’s contract to the current max for the 2016-17 season.

Houston Rockets general manager Daryl Morey won early Executive of the Year points by renegotiating a contract with James Harden, who signed a five-year, $74 million contract in 2013.

Paul George ought to wait…

It doesn’t make too much financial sense for George to agree to a similar contract restructuring.

Unlike Harden, George falls under the 0-6 max eligibility for next season, meaning Indiana could only restructure his deal using the current cap space for the next three seasons that he’s already under contract (player option for 2018-19).

If George, still only a six-year veteran, were to renegotiate his contract next July, he can capitalize on his upgrade to the 7-9 max bracket (under which Harden falls) and the increasing salary cap.

George would be leaving millions on the table by renegotiating this early. By extending his contract this fall, George would make $20.6 million in 2018-19, which’d be north of $25 million if the small forward were to wait until next summer.

The other option would be for Indiana to simply use the current cap space and increase George’s salary for the next three seasons, propelling him to forego his player option for 2019-20.

This way, George would be committing only one extra year and get paid more in the process.

Bob Kravitz of WTHR, who caught up with George during the Rio Olympics, reported in early August that a contract extension can’t be ruled out.

Paul George told me here in Rio there have been some initial talks about a contract extension with the Pacers, but nothing extensive.
— Bob Kravitz (@bkravitz) August 4, 2016

Paul George has praised Larry Bird‘s offseason work. Credit: Brian Spurlock-USA TODAY Sports

On the surface of it, there is good reason for George to stay in Indiana.

If you survey the landscape of the East, there isn’t too much credible competition for LeBron James. The Toronto Raptors aren’t giving the Cavs any nightmares.

The Miami Heat and Chicago Bulls are set to fall off the radar while Boston Celtics are still an offensive superstar away from contending.

PG-13 believes the Pacers aren’t wasting his prime. Recently, he showered praise on president Larry Bird for an offseason which saw Indiana acquire Jeff Teague, Thaddeus Young and Al Jefferson

Bird has given the two-way wing an above-average supporting cast for the better part of six years. And prior to his leg injury in 2014, George and the Pacers were the only threats for LeBron James-led teams.

Last season, George returned from injury and carried the Pacers to within one win of a conference semifinal berth. It was the first season without longtime frontcourt Roy Hibbert and David West.

New Era For Blue & Gold

For the first time since he was drafted by the Blue & Gold in 2011, George will enter a season with a new coach (Nate McMillan) and a new point guard (Jeff Teague).

And with Hibbert, West and George Hill out of the door, George is ready to embrace an alpha male attitude, besides taking his game to the next level.

"“I’ve been molded all the way up to this point with having great veterans and great guys around me. Now, it’s my solo opportunity of really being the leader and really being the locker room voice. I’m really looking forward to it; this is my chance and I’m going to make the heck out of it.“Like I always say, it’s on me now,” a supremely confident Paul George said before Team USA departed for Rio."

Larry Bird has been clamoring for new coach Nate McMillan to run a fast-paced offense and wants to see the team average 106 points per game.

Can Jeff Teague (0) help Paul George (13) reach the next level? Credit: Dale Zanine-USA TODAY Sports

If Pacers were to successfully initiate a spread offense that can fulfill Bird’s wishes, it begins with how effective Teague and George can work as a tandem.

Teague was fifth-most aggressive guard last season, driving and attacking the rim 11.1 times per game. George Hill, on the other hand, drove to the rim only 3.7 times per game.

George is set to feed off Teague’s ability to penetrate defenses. And Pacers fans should be excited since the All-Star duo is tirelessly working towards improving on-court chemistry.

"“Yesterday in the locker room I was a little reserved, and it probably was a little weird because we (George & I) were both just sitting there … our lockers are kind of by each other, so it was a little awkward. But today we played and you could see the relationship growing.“We’re going to work well together,” Teague said last Wednesday after scrimmaging with George."

George has a pretty low usage rate when compared to other superstars in the league. He is often willing to pass up on buzzer-beaters – the way he did with Solomon Hill during Game 5 of the first round of the playoffs.

But George has admitted that his demeanor would have to change, and he’d have to set the tone going forward. The Pacers simply don’t have the personnel to pull off an unselfish playbook ala the Golden State Warriors or San Antonio Spurs.

And if George can get the Pacers back to a top-three seed and a conference final berth this coming season, he needs to do the right thing and make a long term commitment.

Paul George staying put in Indiana is good for the league. It’s good for the game.