More than anything, Penney's MVP situation came down to the fact that he was losing votes to Wilkinson, plus a few to the others. He also missed five games.
Wilkinson scored 20 or more points nine times. Bruton did it four times. Braswell and Abercrombie did it another four times between them.
How many times did that happen to Ervin? Sav hit 20 once, Coenraad twice, Davidson had 3-4 big double-doubles, Forman hit 20 or more five times.
How many times did that happen to Ballinger, for example? DeVries had 20 once, Shannon had one game of 23 - that's it. Johnson had a couple when Balls was out and Carter another.
(Not saying 20+ is going to get you votes, just using it as a quick method to make a point.)
Turns out Balls only had four games of 20 or more, but a lot in the high teens when he would've been top scorer.
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D Martin was a worthy DPOTY and Madgen ROTY. If MVP was calculated differently, then the Breakers might have an argument for Penney.
As for COTY, it's voted by peers and I think a lot of people would look at potential. Crocs weren't widely pitched as top two material (though Boti rated them and their imports especially) while it's nearly always been the Breakers' championship to lose.