Jefferson’s value is shrinking?

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According to the Express-News (via Yahoo! Sports), the San Antonio Spurs might offer free-agent Richard Jefferson a multi-year contract slightly above the midlevel exception due to his market value shrinking:

On July 1, Jefferson opted out of a contract that would have paid him $15.2 million this coming season. The San Antonio Express-News is reporting that Jefferson figured he’d cash in on a long-term deal from one of the many teams that had made room under the salary cap for¬†LeBron James. But, the paper reports, Jefferson’s market is “shrinking daily” and he shouldn’t expect more than a mid-level exception of $5.765 million. “The Spurs are expected to offer a multi-year contract starting at a shade above that,” the paper notes.

Though Spurs fans might not like the team to re-sign Jefferson after his mediocre season, he does have one full season of the infamous difficult Spurs system and might have a better second season.

With Jefferson on the back-end of his career, a multi-year contract might be a bit long. However, a reduced contract might be on par on what he does produce for the Spurs.