Sixers free agent’s $23 million contract includes one sneaky provision

The offer sheet signed by restricted free agent Paul Reed has an interesting wrinkle.

Reed signed a 3-year, $23 million offer sheet with the Utah Jazz that was matched by the Philadelphia 76ers. While there’s nothing peculiar about a team matching an offer to keep their free agent, one interesting wrinkle in the contract details highlighted by ESPN’s Adrian Wojnarowski likely forced a smirk out of 76ers president Daryl Morey.

Reed’s offer crafted by Jazz General Manager Justin Zanik fully guaranteed the first season of the three-year deal. However, it includes a provision that would guarantee the final two years — worth $15.7 million — only if the team paying him makes the conference semifinals. Given where Utah stands now in Year 2 of its rebuild, the stipulation far more likely would affect the Sixers than it would the Jazz.

Philadelphia has made the Eastern Conference semifinals in five of the last six seasons, while Utah is probably a few years away from being considered a postseason contender. The offer sheet was a savvy way to make it less palatable for the Sixers to match without adding too much risk for the Jazz.

Morey, who’s been known as a shrewd operator himself when it comes to front office dealings, waited until 90 minutes before the July 9 deadline to inform the Jazz he was matching the deal.

The entire ordeal draws similarities to a contract offer Morey cooked up with Zanik in 2012. Back then, the current Jazz GM served as the agent for Chicago Bulls free agent Omer Asik. The center signed a three-year, $24.3 million offer sheet from Houston that was backloaded to pay more than 60% of the total value in the final year, which the Bulls refused to match. Those “poison pill” contracts became a signature of Morey with the Rockets.

Perhaps Zanik learned from that ordeal, which led to him giving Morey a taste of his own medicine.