Reed Sheppard officially signs rookie-scale contract with Rockets

Rockets rookie Reed Sheppard signed his initial NBA contract, under which he’ll be paid over $10 million per season during each of the next two years.

Reed Sheppard officially signed his rookie-scale contract with the Houston Rockets, the team announced this week. Under the NBA’s Collective Bargaining Agreement (CBA), financial terms for first-round draft picks are scaled relative to each draft slot.

According to HoopsHype data, Sheppard’s scaled contract after being drafted at No. 3 overall in the 2024 first round goes as follows:

  • 2024-25: $10.1 million
  • 2025-26: $10.6 million
  • 2026-27: $11.1 million
  • 2027-28: $14.0 million

The final two years of that Sheppard contract are team options, while the first two seasons are already fully guaranteed.

A 6-foot-2, 182-pound guard, Sheppard was an early entry draft candidate following his freshman season at Kentucky. He was named Freshman of the Year by the National Association of Basketball Coaches and the U.S. Basketball Writers Association, and he earned All-America Honorable Mention by the Associated Press.

Per 40 minutes played, Sheppard averaged 17.2 points, 6.2 assists, 5.7 rebounds and 3.4 steals while shooting 53.6% from the floor, 52.1% from 3-point range, and 83.1% on free throws. He ranked eighth in the nation in steals per game and first in 3-point percentage with a minimum of 30 attempts.

Dating back to 2001-02, Sheppard joined Tyrese Haliburton and Stephen Curry as the only Division I players to have averaged at least 16.0 points, 6.0 assists, 5.0 rebounds, 2.5 steals, and 2.5 made 3-pointers per 40 minutes while sporting a true shooting percentage of 60.0% or better. Sheppard was the third Division I freshman to have recorded at least 80 steals and 75 3-pointers in a single season.

Sheppard turned 20 years old last month.  His parents, Jeff and Stacey, were both star basketball players at Kentucky during the 1990s.

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