Victor Oladipo Rejects Contract Extension Offer From Houston Rockets

Victor Oladipo Houston Rockets

    • Victor Oladipo has rejected a two-year extension offer from the Houston Rockets.
    • Oladipo was traded to Houston last month as part of the James Harden deal.
    • Houston has the worst odds to win the Southwest Division at +2500 according to the BetOnline App.

Victor Oladipo turned down a two-year extension offer worth $45.2M from the Houston Rockets.

Oladipo is in the final year of a four-year $85M contract he signed with the Indiana Pacers and is eligible to sign an extension deal. He was traded to the Rockets last January as part of the four-team deal that sent James Harden to the Brooklyn Nets.

Seeking a Longer Deal

Oladipo rejecting the deal didn’t come as a surprise as the 28-year old is pursuing a longer deal. The Rockets’ offer was the most the franchise could offer Oladipo, per league CBA, before the end of the regular season. After the conclusion of the season but before the start of free agency, Houston will be eligible to offer Dipo a four-year $113M extension. During the free agency period, the Rockets can dangle a four-year $151M deal or a five-year extension worth up to $195M.

By rejecting Houston’s offer, Oladipo has a chance to become one of the biggest two-way free agents available after the season. Teams like the Miami Heat and New York Knicks have shown interest in Oladipo and both teams have the salary cap to offer him a max contract during the offseason. The Rocket can still offer Oladipo a longer deal after the season, as the CBA provides. However, they may end up trading Oladipo before the trade deadline rather than risk getting nothing in return in free agency.

The former no. 2 pick of the 2013 NBA Draft by the Orlando Magic is averaging 18.9 points, 4.9 rebounds, and 4.8 assists per game in 13 games since being traded to the Rockets. He was the NBA’s Most Improved Player winner in 2018  while also making All-NBA third team and All-Defensive third team that season. Oladipo made back to back All-Star game appearances in 2018 and 2019. He missed a third All-Star selection last year as he was rehabbing his quadriceps tendon which he injured in 2019.

49-Point Loss, 11-Game Losing Streak

As for Houston, the Rockets are a mess right now. After a good start to the post-James Harden era where they won seven games during an eight game span, injuries to Christian Wood, John Wall, and Oladipo have put them in serious trouble. Including Sunday’s game against the Memphis Grizzlies, Houston has now dropped 11 straight games, the longest losing streak in the NBA this season and the Rockets’ longest since December 2001.

The loss to Memphis was the worst, not just of their current skid but of the entire season. Houston lost by 49 points, the third-largest margin of defeat ever in the history of the franchise. The Rockets scored just 84 points, their lowest point total since November 8, 2018. The team shot 4-45 (8.9%) from behind the three-point arc and 23-83 (27.7%) from the floor.

The BetOnline App has Houston with the worst odds to win the Southwest Division at +2500 after winning the division title in each of the last three seasons. At 11-21 the Rockets have the second-worst record in the Western Conference and they are 6.5 games behind 8th place. Houston has made the playoffs in the last eight seasons but that streak is in grave danger of ending this season.

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Shane Acedera / Author

Shane grew up watching the Magic & Bird rivalry but ended up rooting for Detroit's Bad Boys team in the 1990s NBA. He loves to tell sports stories and has been writing about sports since high school. When Shane isn't busy jotting down his thoughts, he's just chillin' at home with his wife Rocelle and their two dogs named Horry and Fisher. He recently added a new family member, adopting a handsome retired K-9 named Ranger.