Terrence Jones is now eligible for a contract extension, like every other first round pick in the 2012 NBA Draft, but Jones is coming off a down season in which he was injured a lot. The Houston Rockets like Jones a lot, and he has proven to be a good player in the NBA, but right now Jones doesn't have the negotiating power he would like, and the Rockets don't have the cap room they would like so an extension doesn't seem like a great possibility, according to Steve Kyler of Basketball Insiders.
Since Jones is at a disadvantage in negotiating off a down year, he will likely look to play this season out and become a restricted free agent next offseason and earn himself a lot more money. Jones becoming a restricted free agent next offseason seems like it would be the best outcome for both sides and still makes it likely Jones will be back with Houston for the foreseeable future since the Rockets would be able to match any offer he received. The Rockets also reportedly have a history of letting guys become restricted free agents and letting the market set their value.
The Rockets cap situation currently isn't great, as they have a lot of money going to very few players as Dwight Howard and James Harden have maximum contracts and recently acquired Ty Lawson is under contract for the next two seasons at more than $12 million. With the cap going up next year and the ability to maneuver some things around the Rockets will be able to get a deal done with Jones, it is just a matter of how well he plays this season and how much money other teams are willing to offer him.
Jones was the 18th overall pick in the 2012 draft by the Rockets and after not contributing much in his rookie season, the former Kentucky Wildcat broke out in his sophomore season and became a reliable starter for Houston. Last season, Jones missed a lot of time with injuries and ended up only playing in 33 games for the Rockets, but he was still productive when he played. Jones averaged 11.7 points and 6.7 rebounds per game while making a career high 35 percent of his three point attempts.
An extension isn't out of the question, as it is possible the Rockets could see this is a great time to lock down a good player at under market value while Jones may just want financial security after being hurt a year ago. But despite all of that, it is more likely than not that Jones will become a restricted free agent next offseason.
