The Charlotte Hornets are giving Jeremy Lamb an extension for three years worth $21 million per Marc Stein of ESPN.
According to ESPN sources, Hornets and Lamb are closing in on a three-year extension in the $21 million range— Marc Stein (@ESPNSteinLine) November 2, 2015
Lamb was acquired over the offseason in a trade that sent Luke Ridnour to the Oklahoma City Thunder. He had fallen completely out of the rotation in OKC, and never really lived up to his potential while he was there. The Thunder found other options, and decided cutting ties with the young wing would be best.
To say this is a risky move by Charlotte is an understatement. In all of Lamb's time he spent with the Thunder he never was able to consistently crack the rotation, and was a very inconsistent shooter. He started off the season with the Hornets injured, and has only played two games with them so far. That said, he is only 23 years old so there's some hope that they will be able to bring out the best in his potential.
To be honest though this doesn't look like a smart move. Lamb's history with OKC doesn't warrant an extension, and he hasn't played nearly enough with Charlotte to show them he deserves one. It would have been much easier to wait out the year, and see how he played, before deciding if they wanted to bring him back long term. Maybe this is a concern that he would be worth more this offseason due to the rising cap room in the summer, but to be honest we aren't even sure if Lamb is a rotation level player. This is a three year risk that could very easily blow up in their faces.
Luckily, while $21 million is a lot right now, it's not going to be nearly as much of a dent in cap room with the new television contract flooding the NBA with money, and inflating cap space like a balloon. So if this does blow up in the Hornets face at least it won't cost them too much in the end, but there's something to be said with spending your money wisely no matter how small the cost.