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Porzingis was considered a candidate to decline his $36 million player option and re-sign with the Wizards on a long-term deal. But those plans changed once the Wizards hired a new front office. He instead picked up his player option, making him immediately trade-eligible, and the Wizards wasted no time moving him.
In contrast to their return for Beal, the Wizards managed to get a nice young player in Amir Coffey and a first-round pick with the 30th overall in this year’s draft. They could also be getting additional draft equity from the Celtics, who have all their own first-round picks going forward. The biggest thing the Wizards are getting now is immediate cap flexibility.
These two trades, combined with Kyle Kuzma declining his $13 million player option, won’t put the Wizards in a position to have cap space unless they waive and stretch Chris Paul. However, they project to have several trade exceptions that could be utilized in lieu of cap space. The Porzingis trade by itself will generate an $11 million trade exception, while the Beal trade by itself will generate a $5.4 million trade exception.
The biggest thing to look forward to is if this trade gets tied into the Beal to Phoenix trade. If so, the Wizards could generate a much bigger trade exception in the $27 million range. That is a significant amount that could be used in the offseason to acquire unwanted salaries from other teams with prospects and draft picks attached. They currently project to have north of $90 million in cap space in the 2024 offseason.
Neither Danilo Gallinari nor Marcus Morris project to be in Washington’s plans. Gallinari could become a buyout candidate immediately. Morris could become one around the trade deadline if he’s still on the Wizards by then.
