Greg Oden, Blazers face decisions this summer

Greg Oden spent a fair portion of his Thursday morning on a treadmill at the Trail Blazers practice facility, with a towel around his neck, running.

He lifted weights. He stretched. He worked with enough vigor to make me think he still has a future in the NBA at a time when the Blazers lack front-court depth.

But I also couldn't help but wonder whether that future will be in Portland.

Basically, is this it?

I don't think it is. In fact, the Oden story feels half-finished. But I suspect this entire thing is going to hinge not on his health, or his role with the Blazers, but on just how much he likes Portland.

First, know Oden stayed late. His workout was extensive. Teammate Marcus Camby, who had terrific post players Patrick Ewing and Larry Johnson to work with early in his own career, looked in at Oden and told me, "I've been here a year, right? And I really haven't had a chance to work out with Greg and play alongside him."

Therein lies the obvious issue. The not-so-obvious issue centers around Oden's expiring contract, his long-term plans, and the Blazers' master plan for his short-term future.

I'm not sure those things match up.

Consider that the Blazers did not extend Oden's contract. He became the first No. 1 overall NBA pick since Kwame Brown to not receive that extension. As a result, the Blazers have the period from the day after the last game of this year's NBA Finals to June 30 to make a one-year qualifying offer of $8.8 million to Oden.

If the Blazers make this offer, Oden becomes a restricted free agent this summer. He may field offers from other NBA teams, but the Blazers would have the right to match any offer and keep him.

If the Blazers don't make a qualifying offer before June 30, Oden would simply become an unrestricted free agent. He's free to leave. And that's that.

The Blazers maintain that they'll probably make that qualifying offer, as long as Oden's rehabilitation is progressing -- as they say it is. And they'd be wise to do so. But further, they'd be wise to attempt to turn the one-year deal into a multiyear contract, tacking on two or three seasons to Oden's deal.

Camby said that Oden has a "freakish" body. He meant that as a compliment -- his blend of size and athleticism. "Only Dwight Howard is like that," Camby said. "Andrew Bynum is big, but he's not strong and bulked up like Greg."

Oden is 7 feet tall. He's mobile. He's a potential difference-maker on the defensive end of the floor. He's a true center in a league that doesn't have many.

I asked one executive from the East if the Blazers should keep Oden, or go looking for another potential franchise center and he answered with a simple thought: "Where do you find one?"

There isn't another Oden in this draft. Not another one available in free agency. Not another out there, to be had in a trade. The Blazers have the only Greg Oden that God made, and while they shouldn't wait around for him to carry the franchise, they should not cut bait.

Oden told me a few weeks ago in the Blazers locker room that he's trying to lose weight. He wants to play around 270 pounds, not near 300. In that, it looks like Oden understands that what he tried before wasn't working for him. I worried after this latest surgery that Oden might never recover mentally. And I worried when I told him recently that I was having another knee surgery myself -- torn meniscus -- and Oden looked at me and said, "You'll probably beat me back."

I watched Oden work out for 75 minutes on Thursday. When I left he was still going, moving from abdominal workouts with a medicine ball to upright rowing.