Report update: Marcus Smart fail to agree on extension

Update: Per multiple sources, the Celtics and Marcus Smart failed to reach an agreement by the 6 PM deadline.

Per the Vertical

The Boston Celtics and guard Marcus Smart’s agent remained fully engaged until the contract extension deadline of 6 p.m. ET Monday, but could not bridge the gap for an agreement, league sources told The Vertical.

For the Celtics, luxury-tax implications moving forward were a significant hurdle in completing Smart’s extension, league sources told The Vertical.

(Original report below)

With the deadline for the Boston Celtics to reach an extension agreement with Marcus Smart approaching ever closer, the Boston Globe’s Adam Himmelsbach is reporting that the likelihood of the two sides reaching an agreement is unlikely.

The decision to wait on Smart doesn’t come as much of a surprise. Extension talks were, reportedly, somewhere between tepid and nonexistent as recently as last week, and the limited projected cap space next summer makes the looming threat of restricted free agency a more palatable risk.

Smart, who has slimmed down considerably since a year ago, has performed well in the preseason, but it would appear that Danny Ainge and the Celtics front office want another full year of data before deciding what rate they are comfortable compensating him at.

That’s likely a wise choice, but it does leave the possibility of having to decide between paying major money and letting Smart go, should he put together a monster breakout year. Smart would have to take a major leap in several domains to leapfrog some of his projected peers in free agency next year, however, and the chances of the Celtics getting priced out of his market seem low.