Apr 11, 2014; San Antonio, TX, USA; San Antonio Spurs guard Tony Parker (front) passes the ball under the basket against Phoenix Suns guard Eric Bledsoe (behind) during the first half at AT&T Center. Mandatory Credit: Soobum Im-USA TODAY Sports

Eric Bledsoe's value in context to Tony Parker's extension

As San Antonio’s agreement with Tony Parker on a three-year, $43.3 million contract extension spread Friday via Adrian Wojnarowski’s report, the first thought was that the Spurs were getting another discount. For Phoenix-centric folks, the first thought was that deal compares favorably to what the Suns offered restricted free agent Eric Bledsoe.

Parker will make $13.4 million, $14.4 million and $15.4 million when the extension kicks in. He’ll make $12.5 million this coming season, just $500,000 more than the Suns are reportedly offering Bledsoe on an annual basis. Over the next four years, Parker will make $55.8 million, a total of $7.8 more than Bledsoe would if he took the four-year, $48 million reportedly offered by Phoenix.

Parker’s new deal is still indirectly skewed to the NBA’s financial dynamics of Parker’s six-year, $66 million deal signed in 2004, his first deal after his rookie-scale contract expired. Since, Parker has signed a four-year, $50 million extension on that before the three-year deal reported Friday. He got the max extension that he could without becoming a free agent, ShamSports’ Mark Deeks pointed out before the figures that he projected correctly were confirmed.

Because Parker’s salary increases came on extensions they are essentially still building from an ancient deal signed in 2004. Nevermind that Parker took a discount on his last extension. With the rising cap, that means he’s coming at an even greater discount on this next extension.

What’s this got to do with Bledsoe? Maybe the context here makes a case for these things haven’t nothing to do with one another.

But on a more general scale of “fairness,” Parker’s signing certainly helps the Suns’ case. They’re not exactly low-balling their free agent guard.

John Gambadoro’s open letter to Bledsoe telling him it’d be smart to accept the four-year, $48 million offer is hard to argue with. To earn just an average of a few million less per season than a point guard responsible for championships, one who is receiving MVP consideration on a yearly basis, is nothing to be ashamed of.

Yes, Parker is getting a second extension to a deal he signed a decade ago. The rules of the salary cap have changed once in 2011 and the salary cap rose 7.5 percent this season alone. And indeed, Parker is already 32 years old, so he might not be getting money for what he’ll become.

Gordon Hayward and Chandler Parsons did sign deals based on their upside. Those contracts with Utah and Dallas were labeled by some pundits as over-spending, but the oversaturated point guard market hasn’t helped Bledsoe’s case to make what those two wings will. Neither does Parker’s agreement.

It’s another bit of evidence that valuations of Bledsoe’s talent are a lot closer to the Suns’ offer than the maximum he’s seeking.

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