Cam Thomas Still Unsigned, May Eye Qualifying Offer As Gap Remains With Nets

July 25, 2025

Cam Thomas of the Nets brings the ball upcourt. NBA — File photo

Cam Thomas remains one of the most notable names still on the NBA restricted free agent board, and there’s a growing sense he could return to the Brooklyn Nets on the one-year qualifying offer if a deal doesn’t materialize soon.

According to Jake Fischer of Bleacher Report, who provided an update via YouTube, there are no serious external suitors for Thomas at the moment, making a return to Brooklyn the most likely outcome. But that doesn’t mean it’s a lock — or that talks have been easy.

Fischer described a “significant” gap between what Thomas is asking for and what the Nets have offered. According to Fischer, the team has extended a two-year deal with a team option on the second season, and the total value doesn’t appear to exceed the $14.1 million mid-level exception.

“Cam Thomas thinks of himself as one of the most elite playmaker-scorers in the NBA, and he wants to be compensated as such,” Fischer said, adding that Thomas is believed to be seeking a contract north of $20 million annually.

Thomas, 23, posted career-best numbers in 2024-25, averaging 24.0 points and 3.8 assists. He played just 25 games due to a hamstring injury, but continues to raise his scoring average year-over-year. Efficiency remains a question, as he holds career shooting marks of 43.9 percent from the field and 34.9 percent from three.

He’s also viewed as a below-average defender, which could be a sticking point in contract talks.

Brooklyn has taken a similar approach in recent deals, signing both Day’Ron Sharpe and Ziaire Williams to two-year contracts with team options on the second season. That structure appears to be part of a broader plan, as the Nets look to maintain flexibility ahead of the 2026 offseason. They’ve also absorbed longer deals for Michael Porter Jr. and Terance Mann via trade, but still have space to preserve cap room for the future.

If no new offer emerges from Brooklyn and the current structure remains, Thomas would be left to decide whether to take the $6 million qualifying offer and hit unrestricted free agency in 2026, or accept less guaranteed money now to secure a multiyear deal.

Taking the QO would also grant him veto power over any trades during the 2025-26 season.

Thomas is one of four standard restricted free agents who remain unsigned, joining Chicago’s Josh Giddey, Golden State’s Jonathan Kuminga and Philadelphia’s Quentin Grimes.