What happened: Larsson's new deal starts below its $15 million annual average and climbs over the life of the contract. One early read on the structure pegged that first season as roughly in line with his 2025-26 on-court value. That follows Larsson's four-year, $60 million extension, which includes a 2030-31 mutual option.

Why it matters: Year 1 salary is often the first pressure point in extension analysis because it sets the immediate cap cost against current production. If Larsson takes on a larger role in 2026-27, a $13.5 million opening number could make the deal look favorable early.

What to watch: The next markers are Larsson's role entering camp and the full salary escalators across the contract. Those will shape whether the deal reads as fair value or an early bargain.