NBA front offices are weird. One minute a guy is an "untouchable" defensive anchor, and the next, he's being shuffled across three teams in eighteen months like a hot potato. Honestly, that's exactly the story of the dorian finney-smith contract. If you haven't been keeping track of the transactions log lately—and who can blame you, the league moves fast—the veteran forward is no longer wearing Brooklyn black or Laker gold.
He’s currently a Houston Rocket.
But here’s the kicker. While most people see a 32-year-old role player on a rebuilding-ish team, GMs see something else: a contract that is basically a masterclass in flexibility. We’re talking about a deal that looks one way on paper but acts completely differently in a trade negotiation. It's the kind of paperwork that keeps cap gurus like Bobby Marks up at night, and for good reason.
The Raw Numbers: What Does the Contract Actually Look Like?
Last summer, specifically July 2025, Finney-Smith hit the open market. He had just finished a stint with the Lakers where he basically saved their defense for a few months. Most people thought he’d just re-sign in LA. Instead, he took a four-year, $52.7 million offer from Houston using their non-taxpayer mid-level exception (MLE).
On the surface, it’s a standard veteran deal. He’s making $12.7 million this season (2025-26). Next year, it bumps up to $13.3 million. That’s about 8% of the salary cap, which in today’s NBA, is basically couch change for a starting-caliber wing.
But if you dig into the fine print, things get spicy.
The deal is only fully guaranteed for the first two years. That means Houston (or whoever trades for him) is only truly on the hook for about $26 million. The third year? Non-guaranteed. The fourth year? It’s a non-guaranteed player option.
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Wait. A non-guaranteed player option?
Yeah, it sounds like an oxymoron. Essentially, Dorian can opt-in to the final year, but the team can still waive him before a certain date without paying him the full salary. It’s a structure designed to make him the ultimate "salary filler" in a blockbuster trade. If a team needs to match $13 million in salary to land a superstar, DFS is the perfect piece because they can cut him later and clear the books instantly.
Why the Rockets Signed Him (And Why They Might Trade Him)
Houston is in a strange spot. They’ve got all these young studs—Jabari Smith Jr., Amen Thompson, Tari Eason—but they needed an adult in the room. They lost Dillon Brooks in that massive Kevin Durant trade to Phoenix, and they needed a defensive replacement.
DFS was that guy.
The problem is, life comes at you fast. Finney-Smith had surgery on his left ankle in June 2024 and didn't actually suit up for the Rockets until December. Since then, he hasn't exactly been lighting it up. He's shooting around 25% from the floor. That’s... not great.
You've got a guy making $12.7 million who isn't really part of the long-term core. This is why his name is all over the trade rumors right now. Teams like the Bucks or the Grizzlies (who almost traded for him when he was in Brooklyn) are looking at that contract and salivating.
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They don't care about his 25% shooting right now. They care that he’s 6'7", can guard four positions, and has a contract that doesn't ruin their "apron" situation.
The "Apron" Problem
Under the new Collective Bargaining Agreement (CBA), teams that spend too much money (hitting the "second apron") get absolutely hammered. They lose draft picks, they can't use trade exceptions, and they basically can't improve.
The dorian finney-smith contract is "apron-friendly."
Because his salary is relatively low and the back half isn't guaranteed, he is a low-risk asset. If you’re a contender and he helps you win a ring? Great. If he gets old and slow? You waive him in 2027 and it costs you nothing.
Misconceptions About the Deal
I see a lot of fans on Reddit saying the Rockets "overpaid" for an aging vet. Honestly, they didn't.
Back in 2021, guys with his skill set were getting $18-20 million a year. Getting a switchable wing for $13 million in 2026 is actually a bargain. The salary cap has gone up, but DFS’s annual raise is only 5%. He’s actually becoming cheaper relative to the total cap every single year.
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Another myth is that he’s "stuck" in Houston.
He’s not. He has a 3.23% trade kicker. That’s a tiny bit of extra cash he gets if he's traded, but it’s not enough to stop a deal from happening. If a contender calls Rafael Stone (the Rockets GM) tomorrow, DFS is probably on a plane by Tuesday.
What Happens Next?
If you're a fan of a team looking for a 3-and-D wing, keep your eyes on the January 2026 trade deadline. The Rockets are reportedly listening to offers. They want draft capital—likely a couple of second-round picks—to move him.
He's currently playing about 16 minutes a game. That’s the lowest of his career. It feels like Houston is just showcase-ing him until they can find a deal that makes sense.
Actionable Insights for Fans and Analysts
- Watch the Guarantee Dates: If DFS is still on a roster by June 29, 2027, his third year becomes fully guaranteed. Expect movement before then.
- Check the Shooting Splits: His value is tied to his 3-point shot. If he gets back to his career average of 36%, his trade value doubles overnight.
- The Salary Match: Any team looking to trade for a player making $10-15 million will target DFS because his contract structure is cleaner than guys like Brandon Clarke or Isaiah Joe.
The dorian finney-smith contract isn't just about money; it’s about leverage. In a league where the new CBA makes every dollar count, having a veteran on a partially guaranteed, mid-tier deal is like having a golden ticket. Whether he stays in Houston or ends up helping a contender in the playoffs, the math behind his deal ensures he'll be a talking point for the next three years.
Monitor the injury reports and the Rockets' rotation over the next two weeks. If his minutes continue to stay low while he's healthy, a trade is almost certainly imminent. Check the "non-guaranteed" triggers in late June 2027 as the ultimate deadline for his long-term future.