According to ESPN.com Ray Allen has re-signed with the Seattle Supersonics. Allen singed a deal that is very close to the 5 year $75 million dollar deal that the Sonics offered at the deadline and before the free agency period. The contract may push towards the $80 million mark.
Obviously, this is enormous for the Sonics future. This allows them to put the finishing pieces on their roster for 2005-06 with Ray Allen as the centerpiece.
In addition, this is the type of commitment that Nate McMillan was looking for from the Sonics. In my conversations with McMillan he was very concerned about where the Sonics were heading. This answers all the questions.
Give the Sonics tremendous credit for reading the market. The Sonics held strong to their offer on two fold. First, they read the market and realized that a 30-year-old shooting guard was not going to garner the maximum deal. Moreover, the Sonics set a plateau for how much they were willing to offer, because they didn’t want to over commit to one player and be unable to fill the rest of their roster. The Sonics held to that number and now should be able to re-sign the other players that they need to without putting themselves in luxury tax jeopardy.
Look for McMillan to re-sign in the near future. If McMillan does not want to return the signing of Allen will allow the Sonics to have their pick of whatever coach they would want.