Not a lot went right for the Los Angeles Lakers in the 2021-22 season with one of the only exceptions being the play of Malik Monk. No other team wanted Monk in free agency and LA landed him with a minimum contract, something that he quickly outplayed in Los Angeles.
There was always the potential of him being a microwave scorer off of the bench and the young, former lottery pick started to live up to his potential. This was massive for Monk’s career, as he now hits the 2022 free-agent market with a much higher value than he entered the market with a year ago.
At just 24 years old, Monk could get even better as well. That is why the Lakers re-signing Monk is a critical must-do decision this offseason; but the team not might even get the chance. We know that Monk is worth more than he signed for in 2021 and he might end up being worth way more than the Lakers can afford.
According to Sean Deveney of Heavy, league sources expect Monk’s floor to be a Mid-Level Exception this summer, projecting him to get a three-year deal worth $32 million (or a four-year deal worth $45 million).
This is far more than the Los Angeles Lakers can offer Malik Monk.
The most the Lakers could offer Monk this offseason, assuming that the team is still over the luxury tax (it almost undoubtedly will be) is the Taxpayer’s MLE worth $6.4 million, which would be half of what Monk could get on the open market.
Monk himself did say in his exit interview that he would love to come back to LA next season and that money will not be the driving factor. While it may not be the driving factor, it still is a big factor and it can be hard to turn down $45 million dollars just because you liked living in Los Angeles.
In theory, the Lakers could offer Monk a two-year MLE deal with a player option in year two, similar to what they did with Kendrick Nunn. This deal could be done with the understanding that Monk will opt out in year two and then the Lakers will pay him.
That is a big risk for Monk, though. The Lakers can promise all they want that they will pay him but if he gets hurt or plays really poorly next season they would undoubtedly go against their word and not overpay him.
Laker fans have to hope that Monk is willing to take that risk, because otherwise, there is no reason for him to stay in LA.