One of the prominent storylines of the NBA this past summer was the new ‘Bet on Yourself’ ethos of the restricted free agent class. None exemplified it more than Cam Thomas, the 6-foot-4 volume scorer in Brooklyn. Faced with an unappealing market, he chose to take the Nets’ qualifying offer and stay on a one-year, $6 million deal.
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Only a few months in, that decision has collapsed. Thomas was waived Thursday by the Nets, a league source confirmed, right after the trade deadline passed. There was not much of a market for Thomas, even though he is just 24 years old and has averaged 21.4 points in 115 games over the last three seasons.
The Nets looked but did not find a suitable offer. There had been talks with the Cleveland Cavaliers on a deal that would have sent Lonzo Ball to Brooklyn, league sources said, but that did not go far and Thomas might not have stayed with the Cavaliers even if it had happened. Ball was shuttled off to Utah for cap relief. Instead, Thomas now hits free agency to find a new team and his next chance for long-term security.
A downside to betting is that, often enough, you lose. That’s what happened to Thomas this season.
His plight is in part a referendum on restricted free agency and on him. Restricted free agency has gotten harder. Teams are more cautious about every dollar now under the current bargaining agreement and reluctant to dole out contracts to players they are unsure of. Thomas was not the only one to face cool markets last summer: Jonathan Kuminga, Josh Giddey and Quentin Grimes did as well. Kuminga just got traded after his prolonged stalemate with the Warriors.
Thomas chose to remain in Brooklyn because it gave him an aspect of self-determination.
“I’d rather control my situation,” he said this fall before the season began. “As a player, that’s the type of control you want in your situation.”
But this season has not gone as expected, even as the Nets have posted the fourth-worst record in the league. It became clear that Thomas was not a core part of the organization’s future, even as it could have found utility in his offensive skill.
Michael Porter Jr. has had a breakout year in Brooklyn and quickly became the offensive focal point for the Nets. Egor Demin has lodged a spot in the starting lineup as a rookie. Injuries have bottled Thomas up, too. His shooting numbers have regressed — his effective field goal percentage is the lowest of his career, and his scoring has dropped into the teens.
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Still, Thomas has always been a divisive player among opposing scouts and league executives. He is a high-usage guard and a talented scorer who can turn it on in a pinch. But he has struggled defensively, and the Nets have been better with him on the floor than off in just one season throughout his career.
There is some irony in him being waived now. After he had to wait this summer to find a new deal in restricted free agency, he is now able to do so without limitations, even if it is in the middle of the season. Thomas can see what the market will bear. He is, again, in control of his situation and able to take another bet on himself.