Bobcats exercise option on Okafor

The 2005 Rookie of the Year is reportedly guaranteed a $5 million bonus in salary for the 2007-08 season. The move was made 16 months before the option deadline specified in NBA rules, which gave Charlotte until October 31, 2006 to exercise Okafor’s option.

Okafor, who was the second overall pick in last year’s NBA Draft, had a terrific rookie season for the expansion Bobcats. He averaged 15.1 points and 10.9 rebounds per game, while also ranking second among all first-year players in blocks by posting 1.7 per contest.

The Charlotte Observer reported last week that the Bobcats can make Okafor a restricted free agent in the summer of 2008 and have the right to match any offer he receives. Charlotte can also negotiate a long-term extension with Okafor during the summer of 2007.

The 6-10 UConn product was a three-time winner of the Eastern Conference Rookie of the Month Award (November, December, April) and also had a string of 19 consecutive double-doubles from November 21 to January 1, which was the longest such streak by any NBA player in 2004-05. Okafor’s string is the longest by a rookie since 12-time NBA All-Star Elvin Hayes registered 60 straight double-doubles during the 1968-69 campaign.

On the season, Okafor had 47 double-doubles and guided Charlotte to 18 wins in its first campaign.

Meanwhile, the Bobcats extended qualifying offers to Gerald Wallace, Jason Kapono, Keith Bogans and Matt Carroll. The offer gives the Bobcats the right to match any other team’s offer for the four players.