NBA Rumors: PJ Washington Open to $8.5M Hornets Qualifying Offer Amid Contract Talks

Charlotte Hornets restricted free agent PJ Washington is reportedly considering signing the $8.5 million qualifying offer as the two sides remain apart in long-term contract negotiations.

Sean Deveney of Heavy reported there has been "progress" in talks, but the two sides are not close to an agreement. Should the monetary gap not be closed in the coming weeks, Washington is reportedly willing to bet on himself and take the qualifying offer in order to hit unrestricted free agency next summer.

Hornets forward Miles Bridges already signed his $7.9 million qualifying offer this month, but his negotiations were complicated by him missing the entire 2022-23 season amid a felony domestic violence case.

It is rare for a player with no extenuating circumstances to sign a qualifying offer, with most choosing long-term security.

Washington averaged a career-high 15.7 points, 4.9 rebounds and 2.4 assists last season, shooting 34.8 percent from three-point range. While he's a below-average rebounder at his position due to his 6'7" frame and non-elite leaping ability, he's a versatile and talented defensive player with a massive wingspan that allows him to play bigger than his height.

The Hornets, a team built on offense-first talent, can ill-afford to lose Washington's presence on the defensive end. The return of Bridges will help and first-round pick Brandon Miller projects to eventually be a quality defender, but Charlotte is still going to play a ton of smaller lineups with Washington as the anchor.

Jake Fischer of Yahoo Sports reported Washington has been seeking a four-year, $80 million contract in negotiations. From a pure value perspective, that would be a bit of an overpay but the market has seen the likes of Dillon Brooks land a contract of similar value. Brooks inked a four-year, $86 million contract with the Houston Rockets that could be worth up to $90 million, according to ESPN's Adrian Wojnarowski.

Washington's reps will almost certainly point to Brooks' deal as a reason they should not budge off their desired number. If the two sides can get into the four years, $72 million range, there might be a workable deal here. As it stands, though, the Hornets appear to be using their leverage of the market to try to drive the price as low as possible.