"Orlando center Dwight Howard has been telling anybody who will listen lately there's nothing he can do now about his contract situation. That's wrong. Howard is eligible now to sign a two-year, $42.56 million extension with the Magic that would take him through the 2014-15 season. Howard, who was drafted with the top pick in 2004, signed a five-year, $82.55 million extension July 12, 2007 that kicked in for the 2008-09 season. He has the ability to opt out of that deal and become a free agent in the summer of 2012. However, Howard, making $16.51 million this season, has been eligible to sign an extension with the Magic since July 12, 2010. That was the first allowed day due to it being the three-year anniversary of when he had signed previously. "Since the third anniversary of signing his extension has passed, he is eligible to extend,'' an NBA official confirmed in an e-mail to FanHouse on Saturday night about Howard, who could lose more than $10 million if he doesn't sign an extension by the June 30 expiration of the collective bargaining agreement and a new CBA seriously curtails salaries. Told by FanHouse on Friday during All-Star Weekend about the rule that has allowed him to be eligible to sign an extension since last summer, Howard disagreed with that. When asked if he's sure he's not now eligible for an extension, Howard said, "Positive.'' Howard's situation has come into play because he has been telling the media recently that speculation about his future is unfair because he's not eligible to sign an extension with the Magic now." Read more: http://nba.fanhouse.com/2011/02/19/dwight-howard-eligible-now-to-sign-contract-extension-with-orlan/
