Former Dallas Maverick Declines Option, Re-Signs New Deal With Washington Wizards

The veteran center signs a new deal to remain with the Wizards after a midseason trade away from Dallas

Feb 12, 2024; Dallas, Texas, USA; Dallas Mavericks center Daniel Gafford (21) and Washington Wizards forward Richaun Holmes (22) battle for position under the basket during the second half at the American Airlines Center. Mandatory Credit: Jerome Miron-USA TODAY Sports / Jerome Miron-USA TODAY Sports

Free agency begins in less than 24 hours for the NBA, so teams are trying to secure their players before they hit the open market, and other players had to decide on their player options before free agency begins. One such player is former Maverick Richaun Holmes.

Holmes was sent to the Washington Wizards at the trade deadline in exchange for Daniel Gafford and some draft compensation, a move that helped the Mavericks reach the NBA Finals this season. He had a player option worth $12.8 million, but according to Shams Charania of The Athletic, he's declining that option to sign a 2-year, $25.9 million deal to remain in Washington.

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It's a unique deal for Holmes that slightly lowers his cap hit to $12.6 million in the 2024-25 season, while only guaranteeing $250,000 of the $13.3 million he could earn in the 2025-26 season. If he plays well for the Wizards or is deemed a valuable veteran to develop their new top pick, Alex Sarr, he'll make a good chunk of change in the 2025-26 season. It seems likely that Washington would waive him after this upcoming season though.

Holmes averaged 7.1 PPG and 6.1 RPG in his 17 games with the Wizards. He only played in 23 games for the Mavericks after Dallas acquired him during the 2023 NBA Draft as part of the deal that landed the Mavs promising rookie Olivier-Maxence Prosper. He was disappointed with his lack of playing time but would've certainly picked up his option to remain with the Mavs had he still been on the team.

READ MORE: Former Dallas Mavericks Guard Waived by Charlotte Hornets

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