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Philadelphia 76ers president Daryl Morey addressed Quentin Grimes’ restricted free agency this week, signaling optimism but offering few details as talks remain ongoing.

Speaking to media, Morey called finalizing Grimes’ contract “the last piece of business” for the team this summer, according to Adam Aaronson of Philly Voice. When asked about the status of negotiations, he added simply, “We hope to work things out. I don’t have more detail.”

Grimes, 24, emerged as a key piece for Philadelphia after being acquired from the Dallas Mavericks midseason. In 28 appearances with the Sixers, the 6-foot-5 guard averaged 21.9 points, 5.2 rebounds, 4.5 assists, and 1.5 steals per game, shooting 47% from the field and 37% from deep.

Despite his breakout performance, the restricted free agent market has been quiet this summer due to limited league-wide cap space. As a result, the Sixers are essentially negotiating without competition, allowing them to wait before committing to a deal.

Philadelphia has ruled out pursuing a sign-and-trade, narrowing the possible outcomes to three: agreeing to a new multi-year contract, Grimes accepting the $8.7 million qualifying offer to become unrestricted next summer, or extending talks deeper into the offseason.

With fellow restricted free agents such as Jonathan Kuminga and Josh Giddey also waiting for deals, the slow-moving market appears to be affecting negotiations league-wide.