The Charlotte Hornets extended qualifying offers to Miles Bridges and Cody Martin and exercised Jalen McDaniels’ team option today, according to official releases from the team.
OFFICIAL: Charlotte Hornets President of Basketball Operations & General Manager Mitch Kupchak announced today that the team has exercised its option on forward @jalenmcdaniels5 for the upcoming 2022-23 season.— Charlotte Hornets (@hornets) June 28, 2022
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OFFICIAL: We have extended qualifying offers to forwards @MilesBridges and @cody_martin15, making them both restricted free agents. The qualifying offer allows the Hornets to match any offer sheet either player signs with another team.— Charlotte Hornets (@hornets) June 28, 2022
: https://t.co/J2dQm3UYm9 pic.twitter.com/qHTyTuHqhr
McDaniels’ option is for about $1.93 million this season, after which he’ll become a free agent. He’s become a steady rotational contributor for the Hornets, so there was never any reason for them to let him walk at such a manageable price tag.
The other part of this is that the Hornets have extended qualifying offers to both Miles Bridges and Cody Martin. The move is mostly a formality, but it makes the pair restricted free agents. That means the Hornets can match any offer that they sign in free agency, and they’ll stay with the Hornets. They’ll have two days to do so once the player signs a contract with an opposing team.
The Hornets also still have the ability to negotiate contracts with one or both players independent of restricted free agency, but restricted free agency will set the market for each player should the Hornets decided to let them test the waters.