Last week, TSN's Josh Lewenberg reported that Pascal Siakam and the Toronto Raptors have had "preliminary talks" about a contract extension.
On Friday, The Athletic's Shams Charania provided some specifics on the type of contract Siakam is looking for. And to no surprise, he is reportedly seeking a maximum extension.
Sources on Inside Pass in @TheAthletic: Spurs and DeMar DeRozan discussing contract extension as DeRozan focuses on season; Raptors rising star Pascal Siakam seeks max deal in extension talks. More here: https://t.co/KgXPQ83SUe
— Shams Charania (@ShamsCharania) October 4, 2019
Charania added that Siakam is "otherwise preparing for a 2020 free agency market" if he doesn't sign an extension before the 2019-20 season but that he wants to remain in Toronto.
The benefit of delaying Siakam's extension until next offseason for the Raptors is that his low cap hold frees up nearly $75 million in cap space in the summer of 2020. However, in doing so, they would run the risk of Siakam signing an offer sheet with another team before they could come to terms on an extension.
Siakam would likely receive plenty of interest as a restricted free agent, with him being possibly the best free agent available.
While Toronto would have the option of matching anything he is offered in restricted free agency, it would pave the way for Siakam to be an unrestricted free agent sooner than he would if he signed an extension with the Raptors. Whereas Siakam is eliglble for a four-year, $130 million or five year, $170 million extension with the Raptors, the most another team can offer him is four years, $124.7 million.
Siakam averaged 16.9 points, 6.9 rebounds and 3.1 assists per game in the 2018-19 season. He was named the league's Most Improved Player, beating out Sacramento Kings guard De'Aaron Fox and former Brooklyn Nets guard D'Angelo Russell for the award.
With Kawhi Leonard now in Los Angeles, Siakam will have an opportunity to prove himself as a No. 1 option this upcoming season.