Former Indiana guard Yogi Ferrell, who is entering his third NBA season, is reportedly closing in on a multi-year contract agreement with the Dallas Mavericks.
Multiple media outlets, including The Dallas Morning News and ESPN.com, reported late Friday night that the Mavericks rescinded the qualifying offer worth $2.9 million for next season to Ferrell with the intent of reaching a multi-year deal.
The former Indiana point guard played in all 82 games for Dallas last season and averaged 10.2 points, three rebounds and 2.5 assists 27.8 minutes per game.
According to Albert Nahmad of HeatHoops, who tracks the NBA salary cap closely, the move to rescind the qualifying offer to Ferrell was done with cap savings in mind:
If Yogi Ferrell is on verge of re-signing with Mavs, rescinding his qualifying offer by 11:59pm on 7/13 deadline could be a cap room maximization strategy – replacing $2.