Sources told ESPN that the sides continue to work toward an agreement in hopes of beating the league's annual deadline for what is known in the NBA as a renegotiation-and-extension. Such deals can't be struck between March 1 and June 30 of any salary-cap year.
Among the reasons that Utah declined to put in a waiver claim on former Jazz star Deron Williams earlier this week, according to league sources, is because the club wants to use its nearly $14 million in available cap space to renegotiate and extend Hill's current contract.
Adding Williams' $9 million salary would have essentially forfeited the Jazz's means to sign Hill to an extension, since it needs the cap space to make an offer attractive enough for the 30-year-old to surrender the right to become a free agent this summer.
The Jazz can give Hill -- who is making $8 million in the final season of his contract -- the rest of its cap space this season and an extension of up to three years with annual raises of 7.5 percent. The best offer Utah can make Hill is for $88.3 million to be committed to the Jazz through the 2019-20 season, which computes to a three-year, $74.7 million extension plus $13.6 million this season.
If the Utah Jazz and George Hill were to have worked out an extension the chances of the Utah Jazz re-signing Gordon Hayward in the offseason would have gone up exponentially.
Games in which the Utah Jazz have their lineup (George Hill, Rodney Hood, Gordon Hayward, Derrick Favors, and Rudy Gobert) at full strength they are 10-1.
Games in which George Hill and Gordon Hayward play the Utah Jazz are 22-6.
Games in which just George Hill starts the Utah Jazz are 25-9.
The Utah Jazz need George Hill, but more importantly they need Gordon Hayward and George Hill. They’re a package deal and vital for Utah’s success.
If George Hill and the Utah Jazz come to terms on an extension tonight then the Utah Jazz can expect Gordon Hayward to be in a Utah Jazz uniform next season and many years to come.
But according to the Salt Lake Tribune’s Tony Jones, those discussions have ended abruptly.
Breaking: George Hill and the Jazz will not reach a deal on a contract extension, league sources tell The Salt Lake Tribune. Story to come— Tony Jones (@tribjazz) February 28, 2017
Well ... this upcoming offseason just got scary for the Utah Jazz, didn’t it?
Looks like George Hill, Joe Ingles, and Gordon Hayward are going to be free agents at the same time. What could possibly go wrong?