Biz is spot on, the only drawback to being on the rookie list is that you only get a 1 year contract, so the conversation probably went a little like this...
Bailey, look, you’re a valued member of the squad, we really like what you bring to the table, however we’re still a bit tight in the cap, so we could offer you a 2 year deal at $200k per year now, or you can take a 1 year deal as a rookie and we can pay you $280k, hopefully once we renegotiate/delist Connor and Travis next year, we’ll be able to offer you a longer deal. Have a think and let us know.