Restricted free agent Quentin Grimes has signed a one-year, $8.7 million qualifying offer to return to the Philadelphia 76ers, agent David Bauman told ESPN on Wednesday.
Grimes, who averaged a career-high in points (14.6), rebounds (4.3), assists (3) and steals (1) last season, will now have the ability to veto all trades during the 2025-26 season and will enter unrestricted free agency next summer when at least 10 teams are slated to have legitimate salary cap space.
After Grimes’ side indicated they desired a contract in the $30 million range early in free agency and then in the $20 million to $25 million range, the two sides never found traction on a new deal this offseason ahead of Wednesday’s 11:59 p.m. ET deadline for the qualifying offer.
Bauman said the Sixers’ first formal proposal of the offseason came on Sept. 24 — nearly three months into free agency — with a four-year, $39 million offer. Days later, Grimes was offered a one-year, $8.8 million deal that gave him $100,000 more than his qualifying offer in order to waive an inherent no-trade clause. Those frameworks were declined, Bauman said, and negotiations never advanced.
On Wednesday, Bauman said Grimes’ side offered the 76ers a one-year framework at $17 million while waiving the no-trade clause and a two-year deal at $34 million with a player option. Both were rejected by the 76ers, Bauman said.
The 76ers drafted VJ Edgecombe with the No. 3 pick in the NBA draft to bolster their backcourt and have had uncertainty entering the 2025-26 season given the injury concerns from last season surrounding Joel Embiid and Paul George — two factors challenging their ability to provide a high-money proposal to Grimes this offseason. With Grimes now on the qualifying offer, the 76ers will retain his Bird rights and believe they have a solid chance to retain Grimes while maintaining the sign-and-trade possibility with him next summer.
The 25-year-old Grimes averaged 21.9 points and 4.5 assists in 28 games with the 76ers after being traded from the Dallas Mavericks at the February trade deadline. He had five 30-point games and two 40-point games with the 76ers last season. He is set to reclaim a significant role in the 76ers backcourt to start this season as Jared McCain is expected to miss four-to-six weeks after he underwent surgery to repair a torn UCL in his right thumb.
Grimes was selected No. 25 in the 2021 NBA draft and spent his first two seasons with the New York Knicks prior to trades to the Detroit Pistons, Mavericks and 76ers from 2023 to 2025.
He was the last of the restricted free agents to reach a deal. Josh Giddey (four years, $100 million with the Bulls), Cam Thomas (1 year, $6 million qualifying offer with the Nets) and Jonathan Kuminga (2 years, $48.5 million with the Warriors) all signed in September.
Entering free agency, the Nets were among just a few teams with significant cap space, which created a freeze for the restricted free agent market. The Nets have operated as the only team with real salary cap space over the past two months.
