The Los Angeles Lakers have experienced an up-and-down season so far, but one standout has been Malik Monk.
Monk, who signed a one-year deal for the veteran minimum this summer, is averaging 12 points, 2.9 rebounds and 2.2 assists while shooting 47.2% overall and 39.6% from deep.
His play has elevated to a new level these last few weeks after he entered the starting lineup. Monk had seven straight games with at least 15 points, including a 29-point effort in the win against the Atlanta Hawks.
He’s been arguably a top-three Laker alongside LeBron James and Anthony Davis, but his contract creates an issue.
The 23-year-old guard is clearly outplaying his value and will likely seek much more than the minimum if he maintains consistency, which could put the Lakers out of his price range.
If the Lakers want to keep him beyond this season, here is the possible route, via Eric Pincus of Bleacher Report:
What may help the Lakers: The 2022 offseason projects to be the tightest in recent memory. Only four teams project to have substantial cap space: the Orlando Magic, San Antonio Spurs, Memphis Grizzlies and Pistons. Those franchises may not prioritize Monk, but much of the league will have the non-taxpayer mid-level exception (NTMLE) at about $10.1 million. The Lakers might have to use their own NTMLE to pay Monk, but that produces another problem.
If a team uses its NTMLE, it locks in a hard cap for the season. That would limit the Lakers to a total payroll of about $152 million. The Lakers will climb well above that total if Russell Westbrook opts into his final year at $47.1 million, as expected. With Monk at $10.1 million, the team would easily reach an unallowed $165 million. While the equation would shift if Westbrook opts out, that’s a significant long shot.
Instead, the Lakers should be limited to their taxpayer mid-level exception at about $6.2 million, which would not trigger a hard cap. At that price, Monk may not want to lock in a long-term deal to hit free agency again in 2023.
At that point, Los Angeles would have Monk’s Early Bird rights and the ability to start his next contract in the $11 million range (for at least two to four years). That’s comparable to Reggie Jackson’s deal with the Los Angeles Clippers, on a two-year, $21.6 million contract signed this past offseason via Early Bird.
The Lakers will have numerous open roster spots next season with the number of minimum deals handed out this summer, but Monk has clearly been worth retaining, especially if he continues with this form.
He’s also one of the youngest members of the roster, so he can definitely be a piece worth building with.
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