Celtics fail to reach extension with Marcus Smart by deadline

A league source confirmed to Bostonsportsjournal.com that Marcus Smart did not reach an extension with the Boston Celtics on his rookie deal ahead of Monday's deadline. Shams Charamia of the Vertical was first to report the sides failed to reach an agreement.

The lack of a new deal should not come as a surprise to BSJ subscribers as I wrote extensively about why the two sides wouldn't reach a deal last week. Smart will enter next summer as a restricted free agent, which will allow the Celtics to match any offer sheet that Smart signs on the open market. 

Smart's agent Happy Walters expressed his displeasure with the Boston Herald after negotiations broke down over the weekend:

"Wyc (Grousbeck) doesn’t want to pay the tax,” Walters said of the Celtics’ managing partner. “They’re into the tax already with three guys who make $30 million a year. If they want someone to take a discount, maybe it should be someone who has already made $150 million in their career, not someone who is just up and coming...It will cost them a lot more (next summer), I can tell you that.”

Walters can talk a big game but a flattening salary cap ($101 million) and a lack of significant cap space for most teams around the league could prove to be a problem for Smart next summer though. For that reason, the Celtics are wise to gamble on their young point guard and wait for the open market to set Smart's price in July.