Otto Porter, Bojan Bogdanovic Reportedly Extended Qualifying Offers by Wizards

The Washington Wizards extended qualifying offers to both Otto Porter Jr. and Bojan Bogdanovic, the Washington Post's Candace Buckner reported Monday.

Porter is coming off his best year in the NBA. He averaged 13.4 points and 6.4 rebounds a game in 2016-17, while he hit 43.4 percent of his three-point attempts—a significant jump from 2015-16 when he was a 36.7 percent shooter on the perimeter.

Bogdanovic averaged 12.7 points a game for Washington after arriving in a trade from the Brooklyn Nets.

Should they sign their respective qualifying offers, Porter would earn a little over $7.7 million and Bogdanovic would make $4.4 million, according to Spotrac. It's doubtful either player will sign the qualifying offer, but extending them the offer makes them both restricted free agents for the Wizards.

Making Porter a restricted free agent was especially important for Washington given how high his value will be in free agency. RealGM's Keith Smith noted how the 24-year-old has transformed following a slow start in the NBA:

John Wall has two more guaranteed years remaining on his current deal, while Bradley Beal is signed through 2020-21. Re-signing Porter will be the Wizards' final piece of the puzzle, at least in terms of locking up their trio of young stars.

Buckner noted, however, an extension for Porter comes with potential headaches. Not only could it push the Wizards into the luxury tax, it may also leave the team handcuffed financially in terms of upgrading the roster.

Still, Washington can ill afford to lose Porter since replacing him with a similar-caliber player would be extremely difficult. The team is better off re-signing Porter, even if it's to a max contract, and then sorting things out later.