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Kendrick Perkins agrees to contract extension with Thunder

Mar 1, 2011, 12:16 PM EDT

NBA Finals Game 4: Los Angeles Lakers v Boston Celtics Getty Images

UPDATE 12:16 pm: We have the financial figures — $34.8 million over four years, according to Adrian Wojnarowski of Yahoo. That works out to an average of $8.7 million a year and is about $12 million more than Boston could offer.

Boston was hamstrung with its offer because it is over the salary cap, which means they could only offer an extension of the existing contract with very specific raises. Oklahoma City is under the salary cap so they could be more creative — they increased Perkins salary THIS season from $2.3 million to $6.7 million, then extended that deal into future years with the raises allowed in the current CBA. Very smart and creative. Also, there are bonuses in the deal that could have Perkins making even more.

10: 52 am: Take that, Danny Ainge.

Kendrick Perkins — traded last week in a shocking move from Boston to Oklahoma City because he wouldn’t sign a contract extension — has signed just such an extension with the Oklahoma City Thunder, according to the Oklahoman. Terms of the deal are not yet known, although it almost certainly is for more money than Boston offered.

Oklahoma City reached this deal with Perkins before he ever put on the uniform of the team — he is out a couple more weeks with a knee injury.

Boston had offered a four-year extension of Perkins current contract (with raises) which came to a little more than $22 million. Perkins people rejected it asking for closer to twice that. That was the max Boston could offer because they are over the salary cap, because Oklahoma City was under the cap they could offer more money.

The rejection of their extension offer made Celtics GM Ainge question if he could sign Perkins at all next summer as a free agent, so he traded the center away rather than lose him for nothing.

This signing has to be a punch in the gut to Ainge, although he did get wing Jeff Green and center Nenad Krstic in the deal. Which is nice and all. But Celtic veterans were unhappy when the deal went down, to see a guy considered part of the Celtics core, a rock on their defensive back line, moved at the deadline.

Oklahoma City had some advantages for Perkins. It is closer to where he was raised in Beaumont, Texas, and Perkins was never a bright lights/big city guy.

  1. loungefly74 - Mar 1, 2011 at 11:00 AM

    hmmm…well, it’s not like he signed with the Kings or Bucks. The Thunder are up and coming. if a GOOD team is willing to pay…it’s not that bad of a choice. and hopefully Perk will understand the C’s just couldn’t pay him that type of $.

    as for the C’s…i would think those Game 7 nightmares just got magnified!

  2. hnirobert3 - Mar 1, 2011 at 11:07 AM

    There goes Simmons’ theory that his Celts would be able to resign him in the offseason.

    • loungefly74 - Mar 1, 2011 at 11:41 AM

      i wonder if Doc will give that “our starting 5 has yet to beat!” speech again IF the C’s don’t win the title. I respect Doc but that is just an absurd comment…anyway.

      that would have been really awkward if they did re-sign him in the off-season…not amongst the players but with management.

  3. mickdamill - Mar 1, 2011 at 4:59 PM

    Good move Perkins, just made the Thunder stronger than they already were. I think they could’ve beat or taken the Lakers deeper in the playoffs last year if they had him. Plus Ibaka is playing like a stud, who needs Jeff Greene?

    • ibejeph - Mar 1, 2011 at 5:58 PM

      As a Lakers fan, I am disgusted by your comments but only because they ring true.

  4. j0esixpack - Mar 1, 2011 at 7:51 PM

    This is no surprise. He wouldn’t have been traded if he were willing to play for less in Boston. I’d expect most Boston fans and the Celts locker room are very happy for Perk. Ironically this may actually help the hurt feelings in the Celtics locker room and let the new team come together and move forward. A win win win scenario for Boston, OKC and of course, Perkins.

  5. zackd2 - Mar 2, 2011 at 7:38 AM

    Lol,
    Dwight Howard v Shaq, Davis, Nenad, Murphy, and the ghost of Jermaine O’Neal? Ha. Ha. Ha.

  6. rapmusicmademedoit - Mar 2, 2011 at 6:46 PM

    anyone who believes a guy with a bum knee and doesn’t play with a douche named KG will fear the black mamba and his long frontline are very mistaken my friend and guess what, the lakers have a toy to incorporate in the next few games that goes by the name Matt Barnes. 3peat my friend 3peat………….

    brooklyn laker fan

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