LaMarcus Aldridge agrees to 3-year contract extension with Spurs, per report

LaMarcus Aldridge and the San Antonio Spurs have agreed to a three-year, $72.3 million contract extension, according to ESPN’s Adrian Wojnarowski. Aldridge could have hit free agency next summer if he declined a $22.3 million player option, but will choose to remain in San Antonio instead.

The third year of the three-year extension is partially guaranteed, per Wojnarowski. The extension deadline was before midnight on Monday.

The extension is curious given the circumstances. In two seasons, Aldridge has floated at times without a clearly defined role and expressed unhappiness because of it. He and Spurs head coach Gregg Popovich met before this season regarding that, something that was detailed by ESPN.

San Antonio was also poised to be one of the few teams with salary cap space next summer as the league suffers from an irrational 2016 spending spree. It seems more likely than not that the 32-year-old Aldridge would have opted out for one more payday next summer, whether it came from the Spurs or otherwise. Instead, he will opt in and play three more seasons in San Antonio.

Aldridge hasn’t reached the same heights in San Antonio that he did in Portland. In his final five years in Portland, Aldridge averaged 22.2 points and 9.5 rebounds, only to see those figures drop to 17.6 points and 7.9 rebounds with the Spurs. He notably struggled in last year’s playoffs.

Why would the Spurs do this?

San Antonio obviously likes Aldridge more than San Antonio fans, who have tended to voice frustration with the big man. It’s partly his finesse game that mostly features mid-range jumpers, and partly his problems in the playoffs. But Aldridge is certainly a good player who does some things that are extremely valuable to an NBA team.

However, for that price? San Antonio could have doubled down on cap space and being buyers in the 2018 offseason, but this limits what it can do. The team now has $77 million in guaranteed money headed into next season, which leaves them short of max money.

It’s possible that signing an extension makes Aldridge a more valuable trade asset, and San Antonio has reportedly shopped the big man over the past two summers. Still, it’s not quite clear what the Spurs’ exact plan is here.

If there’s anyone who has earned the benefit of the doubt, it’s San Antonio. We’ll see in due time what it has in mind with these moves.