Tony Parker signs multi-year contract extension with San Antonio Spurs

The summer of San Antonio continues.

After a season where Gregg Popovich won Coach of the Year, R.C. Buford won Executive of the Year, and the San Antonio Spurs won the 2014 NBA championship (and Mascot of the Year), the Spurs’ brilliance has slipped into the off-season as the franchise has agreed to a extend the contract of 2007 NBA Finals Tony Parker.

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Prior to the extension, Tony Parker was entering the last year of an extension in which the point guard signed in 2010. Owed $12.5 million, Parker would’ve easily become the best point guard available in the summer of 2015, and with teams clearing cap space for a fruitful crop of free agents, teams would have definitely attempted to woo Parker away from the Spurs team that originally drafted him in 2001.

Despite the details of the deal not being revealed, Mark Deeks of ShamSports reveals the maximum amount Parker could earn on an extension.

This is the first step in the San Antonio Spurs ushering in the ‘new era’ for the Spurs. It’s no secret that both Tim Duncan and Manu Ginobili are at the tail end of their careers. Tim Duncan is in the last year of his contract as well as Manu Ginobili and it’s no secret that retirement has been on their minds in the last few years. By locking up Parker, the Spurs could enter free agency with a core of TP, 2014 Finals MVP Kawhi Leonard, Danny Green, Tiago splitter, as well as ton of cap space to bring in a third star in free agency.

Last season, Tony Parker averaged 16.7 points, 2.3 rebounds, and 5.7 assists per game. Parker was also voted into his third straight All-Star game.