2012 July | Hoops Rumors

Week In Review: 7/9/12 – 7/15/12

July 15th, 2012 at 2:42pm CST by Michael Pina

With free agency officially starting this week, we've seen tons of speculated transactions become official moves. Here's a list of all that have occurred so far, as well as some other news from around the league that you may have missed.

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Week in Review

Hoops Rumors Originals: 7/9/12 – 7/15/12

July 15th, 2012 at 1:36pm CST by Michael Pina

Here's a recap of all the original content produced by our team of writers over the past week. We'll begin with our most recent poll, posted earlier today by Daniel Seco, which asks if the Knicks should match Jeremy Lin's offer sheet. So far over 1,000 votes have been tallied, with 67% of our readers believing New York should not match Houston's loaded three-year offer.

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Hoops Rumors Originals

Ray Allen Signs With Heat

July 15th, 2012 at 12:40pm CST by Zachary Links

JULY 15 12:40pm: According to a Miami Herald report, Ray Allen's contract has a player option for the 2013-14 season, giving the lethal three-point shooter an opt-out opportunity should things not work out after the first year.

WEDNESDAY, 10:02am: The Heat have officially signed Allen, the team announced in a press release.

FRIDAY, 8:52pm: The Heat have reached agreement on a deal with free agent guard Ray Allen, Heat owner Micky Arison announced via Twitter. The agreement was confirmed by agent Jim Tanner, tweets Sam Amick of Sports Illustrated. The veteran is widely expected to sign for the mini mid-level exception, worth $3.09MM per year.

Poll: Should Knicks Match Lin’s Offer Sheet?

July 15th, 2012 at 10:06am CST by Daniel Seco

With the Knicks set to acquire point guard Raymond Felton from the Trail Blazers, the team is left to decide whether it should match Jeremy Lin's backloaded offer sheet from the Rockets. The Knicks would have four point guards on their roster if they elect to retain Lin's services, which could make for a very crowded backcourt.

There's no denying the impact Lin made during the 2011/12 season, but he only managed to play in 35 games and suffered a season-ending injury in late March. However, the team's record with Lin on the court (20-15) was significantly better than when he was on the bench or injured (16-15). Should the Knicks pay Lin or should New York simply let the former Harvard star take his talents to Houston?

Bulls Shopping Richard Hamilton

July 15th, 2012 at 9:27am CST by Daniel Seco

The Bulls are looking to find a trade partner in hopes of moving shooting guard Richard Hamilton, according to a report from K.C. Johnson of the Chicago Tribune. Hamilton, 34, is set to earn $5MM in the second year of the contract he signed with the Bulls in December 2011. The third year, a team option for 2013/14, can be bought out for $1MM.

The former Huskies star averaged 11.6 PPG and 3.0 APG during his first season in Chicago in which he missed over half the season due to a shoulder injury. Hamilton would be a great fit for a contender as his level of play improves during the playoffs. In 126 career playoff games, Hamilton has averaged 20.2 PPG and 3.7 APG with the Pistons and Bulls.

Lin Signs Rockets’ Offer Sheet; Knicks To Match?

July 15th, 2012 at 9:05am CST by Daniel Seco

JULY 15TH, 9:05am: The acquisition of Raymond Felton doesn't mean Lin's tenure in New York has come to a close, as head coach Mike Woodson has been known to use two point guards in the backcourt, writes Jared Zwerling of ESPNNewYork.com.

JULY 14TH, 11:00pm: According to Marc Stein of ESPN.com, the Knicks have received Lin's offer sheet from the Rockets and have until 11:59pm on Tuesday to match the offer (Twitter link).

5:46pm: Contrary to previous reports, the Rockets have not yet delivered the Lin offer sheet to the Knicks, reports Feigen (via Twitter).

4:18pm: The Rockets have met with Grunwald and the three-day period to match has begun, Feigen tweets.

3:39pm: In an odd twist, the Knicks seem to be playing a game of keep-away from the Rockets in an attempt to tie up their cap as long as possible, as Jonathan Feigen of the Houston Chronicle reports. The Knicks, in Las Vegas for the summer league, have refused to accept the offer sheet at their team hotel, despite a courier's attempts to reach Knicks officials by phone and at their rooms. The Rockets sent the offer sheet via FedEx to the Knicks offices in New York, but the league has said GM Glen Grunwald must receive it personally (All Twitter links). The Knicks are reportedly upset with the Rockets for increasing the third-year salary in the offer to about $14.9MM.

3:00pm: The Knicks have yet to receive a signed offer sheet from the Rockets, tweets Steve Popper of the Bergen Record, and New York is unsure it will see the offer sheet at any point today, reports Newsday's Al Iannazzone, via Twitter.

JULY 13TH, 3:37pm: According to a handful of reporters, including ESPN.com's Marc Stein (Twitter link), the Knicks are expected to take the full three days to match the Rockets' offer sheet, tying up Houston's cap in the process.

2:57pm: Lin officially signed his offer sheet from the Rockets today, according to TNT's David Aldridge. Interestingly, the originally-reported terms seem to have been modified — Aldridge says that the deal is now for three years and $25.1MM, with a maximum salary in the third year (about $14.9MM). However, the Knicks still intend to match it, says Aldridge (Twitter links).

JULY 6TH, 7:58am: The Rockets' offer sheet agreement with Lin "hardly created a ripple" for the Knicks, who intend to match it, writes Marc Berman of the New York Post.

"He's their guy," one source told Berman. "They'll match."

JULY 5TH, 6:35pm: Jeremy Lin has agreed to terms on an offer sheet from the Rockets, tweets Mark Berman of FOX 26 Houston. The deal is a four-year, $28.8MM offer with a team option in the final year, writes Alex Kennedy of HoopsWorld (on Twitter). New York will have three days to match the offer beginning July 11.

According to reports, the Knicks are willing to pay whatever neccesary to retain Lin's services, tweets Marc Stein of ESPN.com. Ken Berger of CBSSports.com says Lin's offer from the Rockets spikes during the third year of the contract due to the Gilbert Arenas Provision (on Twitter). Lin will reportedly earn $5MM during his first year with the Rockets, $5.2MM in his second and $9.3MM during the third and fourth years of his contract, reports Adrian Wojnarowski of Yahoo! Sports (via Twitter).

The Rockets are in the market for a starting point guard after seemingly losing Goran Dragic to the Suns during free agency and trading Kyle Lowry to the Raptors. Houston's offer to Lin is similar to the one Dragic received from the Suns, except for Dragic's All-Star bonuses and his player option versus Lin's team option in the fourth year, tweets Jonathan Feigen of the Houston Chronicle.

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Magic, Lakers, Cavs Mulling Howard, Bynum Deal

July 15th, 2012 at 8:48am CST by Chuck Myron

SUNDAY, 8:48am: High-ranking officials from the teams involved in a potential Howard trade tell Amico that the Cavs have walked away from the deal again, ending all recent talks (Twitter link).

SATURDAY, 9:12pm: Magic general manager Rob Hennigan wants to build his team in a similar fashion to how the Thunder were constructed, writes Kennedy (via Twitter). This plan would require Orlando to acquire multiple lottery picks and successfully draft players who would turn into superstars.

7:07pm: The Magic prefer draft picks and young prospects as the team is not interested in making the playoffs as an 8th seed, tweets Kennedy. Orlando hopes to completely rebuild its roster if the team trades Howard.

6:41pm: The Cavs are seeking assurances from Bynum that the big man would sign an extension with the team before talks intensify, says Sam Amico of FOX Sports Ohio (Sulia link).

5:02pm: Jason Lloyd of the Akron Beacon Journal says that while it makes sense the Cavs have entered the discussion again given their involvement in the rumored Howard/Nets deal last week, the Cavs and Magic would both be looking for draft picks as part of the deal, and the Lakers don't have any to spare (Sulia link).

4:22pm: The Lakers, Magic and Cavs have discussed a three-team deal that would send Dwight Howard to L.A., Andrew Bynum to Cleveland and provide the Magic with draft picks, prospects and cap relief, Alex Kennedy of HoopsWorld reports (Twitter links). Details are scarce and the situation is fluid, but the deal would make sense, says fellow HoopsWorld scribe Steve Kyler, especially if Bynum winds up in Cleveland, since the Magic prefer to acquire other assets instead of another veteran center (Twitter links).

Both the Rockets and the Lakers continue to pursue D12 and have been in contact with the Magic, Kennedy says, via Twitter. An earlier report by David Pingalore of local TV affiliate WKMG in Orlando suggested that a deal between the Lakers and Magic was in place and would be announced shortly, though Kyler suggests such reports might have been leaked to entice the Rockets to up their offer, and said he did not think a deal with the Lakers would be announced this week (Twitter links).

Kennedy said it's hard to tell whether the Rockets or Lakers are in the lead for Howard's services as the Magic weigh all their options (Twitter link). Kyler tweets that the Lakers' willingness to take on Jason Richardson's contract is appealing to Orlando, but the Magic still want more relief. Former Magic director of player development Adonal Foyle told Kyler yesterday he believes the Magic will wind up trading Howard to the Rockets, since they're the only team willing to take on Orlando's unfavorable contracts (Twitter links).

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Grant Hill Considering Knicks, Heat, Lakers

July 15th, 2012 at 8:33am CST by Daniel Seco

Grant Hill has narrowed down his list of potential teams to play for next season to three, reports Frank Isola of the New York Daily News (via Twitter). Hill, 39 and currently the second oldest player in the league, is interested in joining the Knicks, Heat or Lakers. According to Isola, Hill met with the Knicks in Las Vegas to discuss how the small forward would be a great addition to New York's roster. (Twitter link).

While all three teams are considered championship contenders heading into the 2012/13 season, Hill's wife prefers New York over Miami and Los Angeles. As we mentioned last week, the Lakers were considered the frontrunners for Hill given ex-Suns teammate Steve Nash's arrival in LA but it appears the Knicks are vying for the top spot given the preference of Hill's wife. Regardless of where Hill ends up, Hoops Rumors' Luke Adams predicts Hill will receive a one-year deal worth the veteran's minimum or a small cap exception.

Knicks Set To Acquire Felton, Let Lin Leave

July 14th, 2012 at 8:53pm CST by Daniel Seco

8:53pm: Tony Dutt, Felton's agent, says the Knicks have a verbal agreement in place that will send his client to New York in a sign-and-trade deal with Portland, reports Mark Berman of FOX 26 Houston (Twitter link).

8:28pm: Marc J. Spears of Yahoo! Sports says Lin is close to becoming a Rocket as the Knicks finalize a deal for Felton (via Twitter).

8:21pm: The Knicks have been in talks with point guard Raymond Felton as a decision on Jeremy Lin's future with the team looms, reports Frank Isola of the New York Daily News (via Twitter). Isola tweets that if New York elects to pass on Lin, the team would attempt to acquire Felton through a sign-and-trade with the Trail Blazers. The move would allow the Knicks to add a quality young point guard to their backcourt without sacrificing the team's financial future given how Lin's offer sheet from the Rockets is structured.

Landry Fields Signs Raptors’ Offer Sheet

July 14th, 2012 at 8:38pm CST by Luke Adams

JULY 14TH, 8:38pm: The Knicks will not match Toronto's offer sheet, officially making Fields a member of the Raptors, reports Al Iannazzone of Newsday (via Twitter).

JULY 11TH, 4:31pm: Fields officially signed Toronto's offer sheet today, according to Ian Begley of ESPNNewYork.com (via Twitter). The Knicks will have three days to decide whether to match it, and figure to take their time, as we heard earlier today.

JULY 3RD, 1:09pm: The third year in Fields' offer sheet with Toronto is worth roughly $8.5MM, tweets Marc Berman of the New York Post. Added to a first-year salary of $5MM and a second-year salary of $5.225MM, that would put the total value of the agreement at a little over $18.7MM. Berman adds that the Knicks are unlikely to match the offer.

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