Bobcats Lose out on Landry

It took the Houston Rockets less than 24 hours to match the offer sheet outstanding on restricted free agent forward Carl Landry.

The offer sheet had been extended to him by the Charlotte Bobcats the day before.

Worth approximately 9 million dollars over the next 3 seasons, the offer from the Bobcats was right at the assumed market value for the free agent.

A second round pick in 2007 out of Purdue, Landry burst onto the NBA scene as a rookie last season averaging over 8 ppg and nearly 5 rebounds per game in 17 mpg. Shooting a very impressive 61% from the field.

He was able to seize on an opportunity provided to him when the Rockets lost Yao Ming for the remainder of the season back in February and proved to be a very serviceable frontcourt player.
With the NBA salary cap for the 2008-2009 season set at $58.68 million, the offer signed by Landry from the Bobcats would seem to be the most they could have offered under the current NBA cap restriction as Charlotte's current salary cap figure is right around $55 million according to Hoopshype (which has the most up to date salary numbers I can find for the Bobcats).

Extending the offer to Landry made alot of sense for Bobcats management as the Rockets are currently over the luxury tax with their current salary and there stood a very good chance that they would not match because of the implications.

Having matched the Rockets will now not only pay Landry an average of 3 million dollars over the next 3 seasons but, for at least this upcoming season, they will have to pay an additional 3 million dollars in luxury tax penalties as a consequence of retaining Landry's services.

I applaud the Bobcats for seizing on an opportunity to snag a good player and doing as much as they thought prudent (spending up to the cap) to try and add another serviceable player for Larry Brown to work with next season.

Unfortunately, this big catch was snatched off the hook by Rockets GM Daryl Morey.