Last in, first out: Why the Celtics may cut their exciting recent free agent signing
By Cal Durrett
The Boston Celtics surprised many when they signed the best remaining free agent available, Lonnie Walker to an Exhibit 10 contract. That contract is normally reserved for undrafted free agents and fringe NBA players scrapping to make a roster but often destined to end up in the G League.
This is despite Walker having a strong season for the Brooklyn Nets in 2023-24, though he failed to generate much interest in free agency. Now, comes word that the Celtics could waive him ahead of the season, with Walker potentially getting a bonus were that to happen.
Contract details for Lonnie Walker IV with the Celtics, sources said: Exhibit 10. An E10 allows Celtics to give a bonus to Walker if he is waived after training camp and plays for the team's G League affiliate in Maine.
— Shams Charania (@ShamsCharania) August 29, 2024
Boston bringing Walker in only to potentially waive him is seemingly a head-scratcher. However, it may be more straightforward than it seems.
Why the Boston Celtics signing Lonnie Walker to an odd contract could be mutually beneficial for both sides.
The Celtics may have signed Walker with the understanding that he would have to compete for a spot on the roster, just like an unproven player. If he ends up making the roster, then great since he would have shown that he can contribute.
On the other hand, if he fails to stand out, then he can be waived, giving Boston the option to keep their last roster spot open while also avoiding adding to their luxury tax bill. From Walker's perspective, he may receive around $50,000 for his trouble, possibly even more while still also having the opportunity to play elsewhere next season.
For a young player who has yet to sign a long-term contract, turning down that much money, which could amount to less than a month's worth of work, including training camp and the preseason, was probably hard to pass up. Of course, if he fails to cut it on the Celtics, then he might not get another chance next season, with teams already shying away from signing him before Boston did.
Ultimately, it comes down to Walker's play. If he plays well enough to earn a role in Boston, then he could be a valuable signing. If he doesn't, then no harm, no foul, and both sides can move on.
manual