76ers' Grimes signs 1-year, $8.7M qualifying offer

Guard Quentin Grimes is signing a one-year, $8.7-million qualifying offer to remain with the Philadelphia 76ers, his agent told ESPN's Shams Charania.

Grimes was a restricted free agent and had until Wednesday at 11:59 p.m. ET to sign his qualifying offer.

The 25-year-old can now veto any trades involving him this upcoming season and is slated to hit the open market next summer as an unrestricted free agent.

Grimes and the 76ers had a lengthy contract negotiation process with the two sides reportedly "very far apart" on a new deal as of last week. The former first-round pick wasn't in attendance for the club's media day and didn't travel to Abu Dhabi for their preseason games against the New York Knicks.

Grimes' side initially sought a contract in the $30 million range, according to Charania. His agent said the 76ers' first formal proposal was a four-year, $39-million contract offer that came on Sept. 24.

Grimes' representatives countered with a one-year contract worth $17 million while waiving the no-trade clause or a two-year deal at $34 million with a player option, adds Charania. The 76ers rejected both proposals, leading to Grimes signing the qualifying offer.

Philadelphia acquired Grimes from the Dallas Mavericks last February in exchange for Caleb Martin and a 2025 second-round pick. He had a strong showing for the 76ers in the latter stages of the 2024-25 campaign, averaging 21.9 points, 5.2 boards, 4.5 assists, and 1.5 steals across 28 appearances.

Grimes' addition is significant as both Joel Embiid and Paul George have no timelines for a return. Second-year guard Jared McCain is also in danger of missing the season opener after sustaining a UCL tear in his right thumb during a recent workout.