The Athletic reported Wednesday that the Philadelphia 76ers are close to reaching an agreement with shooting guard Quentin Grimes on a one-year contract extension.

According to the report, Grimes has agreed to an $8.7 million qualifying offer, which also includes a no-trade clause. Both parties expect to finalize the contract extension in the coming days.

By accepting the qualifying offer and not re-signing with the Philadelphia 76ers as a restricted free agent, Grimes will become an unrestricted free agent in the summer of 2026.

Grimes is the last restricted free agent currently off the market and the second of the four restricted free agents, following Brooklyn Nets guard Cam Thomas, to sign a qualifying offer.

The extension is good news for the 76ers, who consider Grimes a key player.

The 76ers and Grimes have been in discussions for some time, attempting to negotiate a one-year contract structure.

The contract was originally intended to be a large payment designed to allow Grimes to waive his no-trade clause.

However, Grimes, his team, and the 76ers' management ultimately disagreed on the contract value, leading him to accept the qualifying offer.

With All-Star guard Tyrese Maxey, second-year guard Jared McCain, and rookie guard V.J. Edgecomb, the 76ers' backcourt has tremendous potential.

Grimes' value to this quartet is multifaceted: he is the best defender and most versatile player among the four, and the only one capable of playing all three perimeter positions.

Grimes' mobility should allow 76ers head coach Nick Nurse to play him without sacrificing playing time and development for McCain and Edgecomb. This versatility will make Grimes crucial to a 76ers team facing high-level championship pressure.

About Quentin Grimes

Grimes, 25, was born on May 8, 2000, in Houston, Texas, and plays shooting guard.

Grimes was a five-star All-American in high school and won the FIBA U18 Americas Championship and MVP award in 2018.

In 2018, Grimes enrolled at the University of Kansas in the NCAA tournament before transferring to the University of Houston the following year.

In his junior season, Grimes led Houston to its first NCAA March Madness Final Four appearance since 1984.

Grimes was selected by the Los Angeles Clippers with the 25th pick in the 2021 NBA Draft and was subsequently traded to the New York Knicks.

In February 2023, Grimes was selected for the 2022/23 All-Star Weekend Rising Stars Game.

The following February, Grimes was traded to the Detroit Pistons.

Four months later, he was traded to the Dallas Mavericks.

In February of this year, the 76ers acquired Grimes and a second-round draft pick from the Mavericks in a trade that also sent Caleb Martin to Dallas.

After joining the 76ers, Grimes became a key offensive weapon during the second half of the season, as injuries to Joel Embiid, Paul George, and Maxey kept them out of the playoffs.

After assuming the starting role, Grimes led the Philadelphia 76ers in scoring and was one of the NBA's most efficient offensive players in March, averaging 26.6 points, 4.9 assists, 4.7 rebounds, and 1.9 steals per game while shooting 40.3% from three-point range.

During this period, Grimes tied with Anthony Edwards for 11th all-time in scoring. He also joined Shai Gilgeous-Alexander as the only two players in the NBA to average at least 25 points per game, shoot 50% from the field, and shoot 40% from three-point range in March.