Here is the flaw in your fear, we don't know how the CBA will read when it comes time to deal with his extension. If we assume that the "restricted" FA clause is kept in place to give the team that drafted the player the upper hand then we know for a fact that the Blazers can match any offer. I don't see them changing that rule since it is the owners best interest to keep it in place, mainly because it has made the draft a realistic method for rebuilding.
If we continue to assume that the "restricted" FA rule stays in place then we could also assume that the player does in fact have the right to not take any offers and simply play out his final season to become a "unrestricted" FA. Now if he decided to play out his final year without signing a deal then he could leave, but let's be honest about this. How in the heck could he even consider doing that given his injury situation.
I also think it will be interesting to see what happens with the CBA since it expires at the end of the 2011 season. There is no doubt that we will pick up his option on the 2010-2011 season, and here is the rub. If the rumor that the NBA is heading to a hard cap is true, then it might be a perfect bargaining tool for signing an extension in October of 2010. I think the general direction of where we are heading with the cap is going to be fairly well known by the middle of the 2010 summer since they will be working on it. There is also talk of making the hard cap retroactive, which would be a nightmare for most teams. They might however simply start the initial hard cap at a very high number and scale back over time to allow for a general shedding of salary rather than the train wreck that would be forcing teams to waive players. This issue will be the key issue of the new CBA, because the other rumor is that they are talking about putting a new salary structure in place. They are also talking about making the changes retroactive to the existing contracts.