Lou Williams, Clippers agree to 3-year contract extension, per report

The Los Angeles Clippers and Lou Williams have agreed to a three-year extension, according to Yahoo Sports’ Shams Charania. The deal will be worth $24 million, less than even the mid-level exception, which is a puzzling price. The final year will also only be partially guaranteed for $1.5 million.

Williams was rumored to be one of the players most likely to be dealt before the Feb. 8 deadline, but that will no longer happen this season. There were a number of playoff teams interested in adding Williams as a bench scorer, but his removal from the market now puts more focus on Memphis Grizzlies guard Tyreke Evans, who could fill a similar role. At least four teams are reported to have interest in Evans.

As for the Clippers, this may be an indication that Los Angeles won’t deal center DeAndre Jordan, either. The Clippers have won their past two games with their revamped roster, one without Blake Griffin but with two reliable starters the Detroit Pistons gave up in exchange.

Los Angeles currently sits a half game out of the playoffs behind the New Orleans Pelicans.

Williams has been having a near-all-star season, averaging career highs with 23.3 points, 5.3 assists, and a 59.3 percent True Shooting Percentage. The 32-year-old will now be under contract through age 36, and it made sense to sign his extension while his value had never been higher.

That said, this isn’t a lot of money for Williams, all things considered. This relatively cheap extension may reflect on the upcoming free agency market, and Williams’ (and his agent’s) belief that even $24 million may not be available for a soon-to-be 33-year-old scorer. We know that it won’t be a spender’s market, but teams may be even stingier this summer — and have less cap space to use — than we previously believed.

This is much less expensive than expected for a player currently near an All-Star level, even if he’s 32 years old.

While Los Angeles isn’t out of the playoff race, their Griffin deal was widely seen as a move towards rebuilding. In the moment, it looked like Williams and Jordan would be on the move, too. Now that the Clippers have changed course, it’s not quite clear where this is going.

Los Angeles might still be in the playoffs race, but their ceiling — both this season and looking ahead — is much lower without a star like Griffin. If the team does deal Jordan, then Williams being signed for the next three years doesn’t make sense.

That said, if the team was going to keep him around, a three-year extension at $24 million, especially when the final year is only partially guaranteed, makes more sense than any alternative.

Of course, the Clippers can still trade Williams next season. You’d think he would have been more valuable this year on an expiring deal than next February, with two more years on his deal, but there should still be some suitors for Williams regardless.

This post has been updated with monetary information about Williams’ new contract.