Quentin Grimes picks up one-year, $8.7 million qualifying offer to return to Philadelphia

Quentin Grimes is betting on himself.

Grimes picked up the $8.7 million qualifying offer to return to the Philadelphia 76ers this season, a one-year contract that comes with a no-trade clause (which he can waive for a deal he likes) and makes him an unrestricted free agent next summer, a story first reported by Shams Charania of ESPN.

While the Sixers and Grimes†representatives discussed a deal all summer, they never came close to a final agreement. Grimes†agent, David Bauman, told ESPN that the teamâ€s first formal offer came only a week ago and was for four years, $39 million, which is well below the closer to $20 million a season that Grimes was seeking (Sixers officials pushed back on that number). Philadelphia retains Grimes†Bird rights and can re-sign him next summer, but after this negotiation there will be bridges to repair.

Grimes was one of the few bright spots in Philadelphia last season. After coming over at the trade deadline, Grimes averaged 21.9 points, 5.2 rebounds, and 4.5 assists a game. Pairing him in a backcourt with Tyrese Maxey, Jared McCain and No. 3 pick VJ Edgecombe could be the backcourt for the next decade, but also has the potential to be expensive (Maxey is already making $38 million this season). Add in having to pay Joel Embiid and Paul George more than $50 million each this season and the 76ers were not looking to go big on Grimes.

Grimes is betting that after a strong season, another team will (or at least there will be enough interest to pressure the Sixers to pay up).

With this signing, Philadelphia is $7 million over the luxury tax line with 14 roster players heading into the season (they are about $1 million below the first apron). As noted by ESPNâ€s Bobby Marx, this is a top-heavy payroll, with the top three players (Embiid, George, and Maxey) accounting for 74% of the salary cap.

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