A former Lakers guard is reportedly on the brink of losing more than $75 million in a brutal free agency
- Dennis Schröder reportedly turned down an $80 million extension from the Lakers last season.
- Schröder is still a free agent and was reportedly offered a $5.9 million contract by the Celtics.
- Schröder's bet on himself didn't pay off, and he may have to take a big discount this season.
The NBA point guard Dennis Schröder is finding out the hard way what a free-agency gamble looks like when it goes wrong.
The 27-year-old guard remains unsigned more than a week into NBA free agency, with many teams having already spent what money they had available.
During the 2020-21 NBA season, Schröder turned down a four-year extension from the Los Angeles Lakers worth more than $80 million, according to multiple reports. ESPN's Brian Windhorst said on a podcast that he had been told the extension was worth $84 million.
The Athletic had reported that Schröder sought a deal that would pay him $20 million annually.
Now Schröder looks set up to take a huge loss. The NBA reporter Jordan Schultz reported on Tuesday that the Boston Celtics have offered Schröder a one-year contract worth $5.9 million. Schröder is reportedly pushing for a two-year deal worth $9.5 million, which is the full midlevel exception, a free-agency mechanism for teams without salary-cap space.
The NBA reporter Marc Stein had said on a podcast that Schröder viewed himself as a $100 million player.
Schröder might have turned down the extension from the Lakers for reasons beyond just money: Perhaps he wanted to play elsewhere; perhaps he felt the Lakers might just use him as a trade chip, as they did with other players on their roster this offseason in acquiring Russell Westbrook.
But Schröder's gamble on himself did not play out well. After a career-best season in Oklahoma City in 2019-20, Schröder didn't reach that level of play with the Lakers. While he had strong moments, his shooting percentages dropped in LA. Schröder also missed time down the stretch by entering the league's health and safety protocols as the team was making a playoff push. The Lakers ended up finishing seventh in the West and facing the Phoenix Suns in the first round.
Such a performance might have left a bad impression for teams seeking point guards in free agency. There were several strong point guards on the market this offseason and several teams in need of lead ball handlers - none went for Schroder.
The Miami Heat acquired Kyle Lowry. The Chicago Bulls acquired Lonzo Ball. The New York Knicks acquired Kemba Walker. The New Orleans Pelicans acquired Devonte' Graham.
Teams with cap space and needs at point guard simply didn't open the coffers for Schröder.
With so few openings (and so little money) available around the NBA, Schröder's best course of action might be to take less money for a team with playoff aspirations and gamble on himself once again. Playing an effective role on a contender could help change the perception of Schröder, and it could set him up to make back some of the money he's lost out on over the past year.