The 76ers have officially extended qualifying offers to forward Thaddeus Young and center Spencer Hawes. This is no surprise as we reported last week that this was imminent. You can read that blog post here: Young & Hawes.
Young's offer is $3.99 million; Hawes' offer is $4.05 million.
A qualifying offer essentially gives the Sixers right of first refusal for both Young and Hawes. Beginning July 1 (lockout not withstanding), Young and Hawes are free to sign an offer sheet with any NBA team. The Sixers then have a definitive time frame in which they are allowed to match the offer and retain the player's services. If the player does not sign an offer sheet during the free agency period, he will play the 2011-12 season for the qualifying offer as listed above.
Within reason, the Sixers are expected to retain both Young and Hawes.