Jrue Holiday contract: Sixers reportedly 'miles apart' on extension

The Philadelphia 76ers and point guard Jrue Holiday have been unable to bridge the gap on a contract extension for the fourth year player, according to a report by Steve Kyler of HoopsWorld.com.

The team reportedly offered Holiday a new deal that would pay him around $9 million per season, which he rejected. According to the report, Holiday and his representation believe that if he can have the breakout year that many are expecting, that he will be able to make more money on the open market than $9 million.

The two sides have until the deadline on Wednesday, Oct. 31 to agree to a long-term deal. If they fail to do so, the Sixers will extend a qualifying offer to Holiday after the season, which will make him a restricted free agent. This will give the team the right of first refusal if any time were to attempt to sign the 22-year-old guard.