PJ Washington Receives Hornets $8.5M Qualifying Offer, Will Become RFA

The Charlotte Hornets extended a qualifying offer to forward P.J. Washington on Wednesday, which will make him a restricted free agent.

The offer gives the Hornets the option to match any offer sheet Washington receives in free agency. According to Spotrac, the offer is worth $8.5 million if no agreement is reached.

Washington has spent his first four seasons in Charlotte after being a first-round pick in the 2019 NBA draft. He averaged a career-high 15.7 points and 4.9 rebounds during the 2022-23 season.

The Hornets have maintained a consistent desire to retain the 24-year-old, and the 3-and-D specialist said he would prefer to remain in Charlotte. It will be interesting to see if the team is willing to pay the significant price to keep him once a number has been established.

Michael Scotto of Hoopshype reported the Hornets were willing to offer Washington an extension worth four years and $50-52 million. However, it's believed Washington was pushing for $20 million on an annual basis.

It's unlikely Washington receives anything nearing that amount, particularly as teams tighten their financial belts under the new collective bargaining agreement. Charlotte may wind up needing to come up on its offer, but Washington is not going to get much above the $12.2 million midlevel exception in the new financial landscape.

The Kentucky product is nowhere near a superstar, but he brings glue-guy energy to the floor and can play in essentially any lineup. He's a career 36.6 percent three-point shooter and has a wide body at 6'7" and 230 pounds, making him able to defend the 3 and 4 positions.

There is no shortage of ways Washington can fit in with a team, which makes him one of the best under-the-radar free-agent targets.