Restricted free agent Cam Thomas is signing a one-year, $6 million qualifying offer to return to the Brooklyn Nets, sources told ESPN on Thursday.
The Nets were unable to reach a long-term deal with Thomas, so the 23-year-old high-scoring guard opted for the qualifying offer that gives him a full no-trade clause and sets him for unrestricted free agency next summer with at least 10 teams set to have cap space.
Thomas is the first among the final restricted free agents in the NBA to land on a decision (including the Chicago Bulls' Josh Giddey, Golden State Warriors' Jonathan Kuminga, Philadelphia 76ers' Quentin Grimes). Thomas is only the fifth former first-round pick to sign a qualifying offer since 2017.
Thomas' representatives, Ron Shade and Alex Saratsis of Octagon, discussed several frameworks of deals with the Nets but ultimately declined Brooklyn's offers of two years and $30 million with a team option for the second season or one year and $9.5 million with incentives up to $11 million while waiving the no-trade clause, sources said.
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 month-plus.
Thomas averaged 24.0 points, 3.8 assists and 3.3 rebounds in 31.2 minutes per game last season, but he appeared in only 25 contests because of hamstring injuries. It was the first time in his career that Thomas missed extensive time.
While showcasing an array of scoring and playmaking skills, Thomas was double-teamed on 18% of his touches in 2024-25, according to GeniusIQ, the fourth-highest rate among players to record at least 1,000 touches, behind only Zion Williamson, Shai Gilgeous-Alexander and Giannis Antetokounmpo.
Thomas averaged 22.9 points in 31.4 minutes per game over the past two seasons after averaging 9.5 points and 17.1 minutes in his first two NBA seasons. He has nine career 40-point games, fourth most in Nets history, trailing Vince Carter, Kyrie Irving and Kevin Durant.