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Old 07-01-2008, 04:37 PM   #1
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Default Paul to sign contract extension

NEW ORLEANS - Chris Paul will be a Hornet for at least four more years after the 2009 season. The agent for the Hornets all-star guard tells ABC26-TV and NewOrleans.com Sports that he will be in New Orleans tomorrow to finalize Paul's new "max" deal with the team.

Paul could have opted for a 3-year deal, but agent Lance Young says Paul will sign a 4 or 5 year deal.

The NBA salary cap could be at least 60 million dollars per team. In a maximum deal, Paul could earn 25 percent of the cap or $15 million for the first year with 10 percent raises to follow.



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Old 07-01-2008, 07:30 PM   #2
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Default Re: Paul to sign contract extension

http://sports.espn.go.com/nba/news/story?id=3469696
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Old 07-03-2008, 09:32 PM   #3
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NEW ORLEANS -- Chris Paul and the New Orleans Hornets reached a contract agreement Thursday that could keep the All-Star point guard with the team for at least the next four seasons.

Lance Young, Paul's agent, said Paul agreed to a three-year extension with a player's option for a fourth year. The total value of the deal is $68 million.

Paul, who recently completed his third NBA season and has been selected to play for the United States in the Olympics, has one season remaining on his current contract. Under league rules, the first day the Hornets can formalize Paul's new contract is July 9.

Paul and Young met with Hornets general manager Jeff Bower at the team's training center in suburban New Orleans on Wednesday, but Young, who is based in the Washington, D.C., area with the sports management and marking company Octagon, flew home Thursday morning without the final details nailed down.

Young said he had a conference call with Bower in the afternoon and a final agreement was reached a few hours later.


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ESPN's Chris Broussard on Paul's extension
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Old 07-09-2008, 03:42 PM   #4
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Default Re: Paul to sign contract extension

CP3 has signed on the dotted line.


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Before a large group of Hornets employees, family and reporters Wednesday, All-Star point guard Chris Paul formally signed a lucrative contract extension with the Hornets.

"It's been a long time coming " Paul said at the midday press conference at the New Orleans Arena. "It's a very humbling experience...I truly love this city, everything about it. I never had any plans to leave."

"Our priority this summer was obviously that we get Chris Paul signed," Hornets owner George Shinn said. "The difference between a good player and a great player is character. I think without a doubt Chris Paul has character plus... We our honored to have you as the face and future of our franchise."

http://www.nola.com/news/index.ssf/2008/07/post_5.html
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Old 07-10-2008, 02:13 AM   #5
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Default Re: Paul to sign contract extension

That is good for this Franchise.. Knowing Paul will stick around a couple more years...
I am glad he didnt sign for six and went w/ the short 3, way to much talent
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Old 07-10-2008, 03:32 AM   #6
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Default Re: Paul to sign contract extension

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Originally Posted by Nets fan 93
That is good for this Franchise.. Knowing Paul will stick around a couple more years...
I am glad he didnt sign for six and went w/ the short 3, way to much talent

What does that mean? Too much talent for what?

Last edited by Copperhead : 07-10-2008 at 03:43 AM.
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Old 07-10-2008, 03:42 AM   #7
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Default Re: Paul to sign contract extension

Articles on CP's signing.

Chris Paul "I Love this City"

'ALL ABOUT WINNING': Paul signed shorter contract to keep core group together

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The possibility of earning $80 million for five seasons didn't catch Chris Paul's attention.

The Hornets' All-Star point guard was more interested in signing a shorter-term extension that provided assurances that the team's core group -- center Tyson Chandler and forwards David West and Peja Stojakovic -- would remain together for the next three seasons.

Paul signed a three-year extension Wednesday, which includes a player option for a fourth year, that pushes the estimated value of the contract to $68 million.

"I'm trying to make sure those guys are here with me," Paul said Wednesday at the New Orleans Arena. "When those guys' contracts are up, I want them to sign another one to stay with us. Everyone who knows me knows that I'm not big on change. So when I find out that someone in the office has left, I want to know what's going on."
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Old 07-10-2008, 10:00 AM   #8
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Default Re: Paul to sign contract extension

I never said he didnt love New Orleans... I'm just saying a lot can happen. What if one of your players gets a bad knee injury or request a trade and in 5 years it's paul and a bunch of rookies? What if he signed that contract for that cheap while he could be the next Kobe.. and get so much more money in a 2 years rather than waiting...
Thats all I'm saying
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Old 07-10-2008, 12:15 PM   #9
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Quote:
Originally Posted by Nets fan 93
I never said he didnt love New Orleans... I'm just saying a lot can happen. What if one of your players gets a bad knee injury or request a trade and in 5 years it's paul and a bunch of rookies? What if he signed that contract for that cheap while he could be the next Kobe.. and get so much more money in a 2 years rather than waiting...
Thats all I'm saying

And I didn't say you said he didn't love New Orleans. I'm just posting a few articles that came out after his signing. You're sounding guilty about something there Nets fan 93. The exact reason he went for three years is because he wants to be sure his core guys can be there with him. I kind of agree with him signing three years because like Byron Scott said, it's all about winning with CP3. 3-4 years will let the organization know that they cannot get complacent and stagnant. They have to continue building to at least put him in the position to win. If he were to sustain a terrible injury that could be career threatening, the org wouldn't be tied down to a long contract which is why personally, I think 3 years should be the max that all players sign. There are some people that's disappointed that he even re-signed at all because they seem to hate seeing him in New Orleans but right now that's just too bad.

Last edited by Copperhead : 07-10-2008 at 12:23 PM.
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Old 07-10-2008, 11:41 PM   #10
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Default Re: Paul to sign contract extension

Quote:
Originally Posted by Copperhead
And I didn't say you said he didn't love New Orleans. I'm just posting a few articles that came out after his signing. You're sounding guilty about something there Nets fan 93. The exact reason he went for three years is because he wants to be sure his core guys can be there with him. I kind of agree with him signing three years because like Byron Scott said, it's all about winning with CP3. 3-4 years will let the organization know that they cannot get complacent and stagnant. They have to continue building to at least put him in the position to win. If he were to sustain a terrible injury that could be career threatening, the org wouldn't be tied down to a long contract which is why personally, I think 3 years should be the max that all players sign. There are some people that's disappointed that he even re-signed at all because they seem to hate seeing him in New Orleans but right now that's just too bad.
My bad I misread lol. I agree with what you say :)
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