The Cam Thomas saga has reached a breaking point. Coming off the best statistical season of his young NBA career, the Brooklyn Nets’ top scorer remains unsigned as training camp looms. And while negotiations once held hope of a long-term extension, they’ve now flatlined. According to NBA insider Jake Fischer, Thomas is leaning toward betting on himself, playing out next season on a one-year, $6 million qualifying offer, rather than locking into a deal he believes undervalues his market worth.

That potential $24 million gap, the difference between what Thomas sought annually and what Brooklyn offered, could now define both sides’ next moves. Thomas’ decision is inching closer to reality, and the message from his camp is becoming clearer.

“Sources also say Thomas is showing an increasing interest in playing out next season on a $6 million qualifier for the right to enjoy true free agency next summer,” Fischer reported in The Stein Line on Sunday. By accepting the qualifying offer, Thomas would hit unrestricted free agency in 2026 with full control over his next destination. The offer comes with a no-trade clause, a critical piece of leverage in a franchise-player standoff. 

It also signals a significant bet on staying healthy and productive for one more year, knowing that his 2024-25 season was limited to 25 games due to hamstring issues. Even so, when he did play, he was electric. Thomas posted a career-best 24.0 points, 3.8 assists, and 3.3 rebounds per game on 43.8% shooting. 

It was enough to solidify his status as a top-tier scorer in the league, but it also stirred up the long-running debate about his fit in Brooklyn. Reflected in their reported two-year, $28 million offer to Thomas, with a team option on the second year. Meanwhile, Thomas has been seeking between $20 million and $30 million annually, a figure that puts the two sides $24 million apart per season. But the Nets remain unlikely to budge.

The Nets might lose $24M

According to ESPN’s Tim Bontemps, the Nets have a type, and Thomas doesn’t quite fit it. “If a deal gets done with Brooklyn, expect it to look, at least in structure, like the ones the Nets signed with center Day’Ron Sharpe and forward Ziaire Williams earlier this offseason: one-year deals with team options on the second,” Bontemps reported. The Net’s front office is reportedly not eager to make a long-term investment in a player who doesn’t embody the team’s evolving identity, one built on ball movement, defense, and positional versatility. 

Right now, Brooklyn is the only team in the league with real cap space, just under $20 million, per Spotrac. And yet, they’ve shown no urgency. As Fischer noted, “Brooklyn has not made an aggressive effort to retain Thomas on any long-term deal.” The absence of outside suitors has only hardened their stance. Thomas turns 24 in October and is entering his fifth NBA season. Despite an injury-shortened campaign, his scoring upside is unquestioned. He averaged 22.5 points across 66 games in 2023–24 and followed that up with an even better per-game output in limited action last season.

Still, the advanced numbers have raised eyebrows. The Nets surrendered 116 points per 100 possessions when Thomas was on the court last year, the worst mark on the team. His 1.4 turnovers per game don’t scream disaster, but paired with just 2.1 assists for his career, they underscore concerns about his playmaking ceiling. With Brooklyn adding five first-round rookies and Michael Porter Jr. to the mix, the team appears more interested in giving reps to its new core than doubling down on a volume scorer. And if Thomas eats into those developmental minutes with his iso-heavy style, the season could get complicated fast. 

Thomas has until October 1 to accept or decline the qualifying offer. At this point, all signs point to him taking the one-year deal and betting on himself to stay healthy, score big, and cash in next summer. He’d enter unrestricted free agency in 2026 with no strings attached, and potentially a much bigger payday. It’s a move that comes with real risk. A re-injury or drop in efficiency could crater his value, just as it did with players like Nerlens Noel in years past. But it also gives Thomas what he seems to want most: control.

For Brooklyn, the fallout could be more complicated. If Thomas walks next summer with no compensation and becomes a 25-points-per-game player elsewhere, the optics won’t be great. But for now, the Nets appear content to roll into next season without over-committing, even if it means watching $24 million in potential value slip through their fingers.