Restricted free agent Cam Thomas is signing a one-year, $6 million qualifying offer to return to the Nets, league sources confirmed to the Daily News.
ESPN’s Shams Charania first reported the deal.
Thomas’ qualifying offer includes a full no-trade clause, making him an unrestricted free agent in 2026, per Charania. His prior contract was a four-year, $10.46 million rookie-scale deal. The 23-year-old reportedly declined two Nets offers: a two-year, $30 million deal with a team option for the second year or a one-year, $9.5 million contract with incentives up to $11 million that required waiving the no-trade clause.
If Thomas does approve a trade, his bird rights reduce to non-bird and the maximum a new team can sign for is $7.2 million, $14.7 million (non-tax ML if available), $6.1 million (tax ML if available) or cap space, per ESPN’s Bobby Marks.
The Nets, the only NBA team with significant salary cap space this offseason, are currently $22.4 million below the salary cap and $6.9 million below the minimum salary floor, suggesting another move may be imminent. They must meet the minimum salary floor by the first day of the regular season.
Brooklyn has 19 players on standard contracts, including the unconfirmed signings of Ziaire Williams and Ricky Council. Last week, the team waived two-way forward Tosan Evbuomwan and officially signed center Day’Ron Sharpe to a two-year, $12.5 million contract with a team option for the second year on Wednesday. NBA teams may carry up to 15 standard contracts during the regular season.
Last season, Thomas averaged a career-high 24 points, 3.3 rebounds and 3.8 assists per game but was limited to 25 games due to injury, sparking debate among experts about his value. He’s the youngest NBA player to score 40-plus points in three consecutive games and holds the Nets’ record for the most 40-point games by a player 22 or younger. He was one of 12 guards last season to average at least 24 points and 3.8 assists while shooting 43.8% or better from the field, joining stars like Donovan Mitchell and Stephen Curry.
The Nets secured Thomas at a favorable value this season without a long-term commitment or overbidding. This deal preserves significant cap flexibility as the Nets reshape their roster for the future, while Thomas gets the opportunity to further develop his game and prove his value as a key piece for the Nets or another contender.
