PJ Washington is not considered a realistic target for teams in restricted free agency this offseason.
With teams possessing limited cap space, the most Washington could realistically sign for is $54 million over four seasons. Washington is seeking a deal in the $18 million range annually, making that offer sheet a relative bargain and an easy decision for the Charlotte Hornets to match.
If Washington is unable to come to terms with the Hornets on a long-term contract, he would play out the 23-24 season on the $8.5 million qualifying offer before becoming an unrestricted free agent in 2024.