BREAKING: Restricted free agent Quentin Grimes has officially signed a one-year, $8.7 million qualifying offer to return to the Philadelphia 76ers, as confirmed by his agent David Bauman to ESPN just moments ago. This move comes as the 76ers look to solidify their roster ahead of the 2025-26 NBA season.
Grimes, who averaged a career-high 14.6 points, 4.3 rebounds, and 3 assists last season, now gains the power to veto all trades during the upcoming season. Additionally, he is set to enter unrestricted free agency next summer when at least 10 teams are projected to have significant salary cap space.
The urgency surrounding Grimes’ deal intensified as the 11:59 p.m. ET deadline for the qualifying offer loomed. Earlier negotiations indicated Grimes’ camp aimed for a contract in the $30 million range, later adjusting to the $20 million to $25 million range. However, no agreement was reached, leading to today’s announcement.
In a series of proposals, the 76ers initially put forth a four-year, $39 million offer on September 24, nearly three months into free agency, followed by a one-year deal worth $8.8 million to entice Grimes to waive his no-trade clause. Both offers were declined, according to Bauman.
On Wednesday, Grimes proposed a $17 million one-year deal that also included waiving the no-trade clause, as well as a two-year deal at $34 million with a player option—both of which were rejected by the 76ers.
The 76ers have recently drafted VJ Edgecombe with the No. 3 pick to strengthen their backcourt, but uncertainty looms as star players Joel Embiid and Paul George deal with injury concerns from last season. These factors have complicated the team’s ability to extend a lucrative offer to Grimes during this offseason.
With Grimes now on the qualifying offer, the 76ers retain his Bird rights, giving them a favorable chance to keep him while also maintaining potential sign-and-trade options next summer. Grimes, 25, had an impressive stint with the 76ers last season, averaging 21.9 points and 4.5 assists in 28 games after being traded from the Dallas Mavericks. He notably achieved five 30-point games and two 40-point games during his time in Philadelphia.
As the 76ers prepare for a challenging season, Grimes is expected to take on a key role in the backcourt, especially with teammate Jared McCain facing a recovery period of four to six weeks following surgery for a torn UCL in his right thumb.
Grimes is the final restricted free agent to finalize a deal this offseason, joining players like Josh Giddey (four years, $100 million with the Bulls), Cam Thomas (one-year, $6 million qualifying offer with the Nets), and Jonathan Kuminga (two years, $48.5 million with the Warriors), all of whom signed in September.
The market for restricted free agents has been notably stagnant, particularly with the Nets holding significant cap space, which has further constrained movements within the league. As the situation evolves, all eyes will be on the 76ers and Grimes as they navigate this new chapter.
Stay tuned for updates as the NBA season approaches and more developments unfold.
