2023 July | Hoops Rumors

2023/24 NBA Contract Extension Tracker

July 11th, 2023 at 8:30am CST by Luke Adams

A number of 2023 free agents, such as Jerami Grant and Fred VanVleet, did very well for themselves on the open market this summer. However, the most lucrative contracts signed since the new league year began weren’t free agent deals at all — they were contract extensions.

Extensions, of course, don’t involve adding a new player to the roster. By extending a contract, a team ensures that a current player will remain locked up for multiple years to come. Although a contract extension may not change the club’s outlook on the court, it can have a major impact on that team’s salary cap situation for the next several seasons.

Rookie scale extensions are one form of contract extension. Former first-round picks who are entering the fourth and final year of their rookie deals are eligible to sign those up until the day before the 2023/24 regular season begins. It’s common for at least four or five players eligible for rookie scale extensions to sign them, and that number is often much higher — there were 11 rookie scale extensions signed in both 2021 and 2022.

While they used to be rarer than rookie scale extensions, veteran extensions are happening more frequently these days. The league’s 2017 Collective Bargaining Agreement expanded the rules for eligibility and created some additional incentives for star players to sign new deals before they reach free agency, and the 2023 CBA has further incentivized veteran extensions. During the 2022/23 league year, a total of 23 veteran extensions were signed, more than doubling the amount of rookie scale extensions completed during that same window.

The deadline for a veteran extension for a player who isn’t in the final year of his current contract is the day before the regular season tips off. However, a player eligible for a veteran extension who is on an expiring deal can sign a new contract throughout the league year, all the way up to June 30, the day before he becomes a free agent.

Listed below are the players who have finalized contract extensions so far in 2023/24. This list, which can be found on the right-hand sidebar under “Hoops Rumors Features” on our desktop site (or on the “Features” page in our mobile menu), will be kept up to date throughout the ’23/24 league year, with more extension details added as we learn them.

Note: Projected values for maximum-salary extensions are based on a $141,000,000 salary cap for 2024/25 and a 10% increase for 2025/26. Those contracts are based on a percentage of the cap, so their values would fluctuate depending on exactly where the ’24/25 and ’25/26 caps end up.

Rookie scale contract extensions:

LaMelo Ball (Hornets): Five years, maximum salary (story). Projected value of $204,450,000. Projected value can increase to $245,340,000 if Ball meets Rose Rule criteria. Includes 15% trade kicker. Starts in 2024/25.
Anthony Edwards (Timberwolves): Five years, maximum salary (story). Projected value of $204,450,000. Projected value can increase to $245,340,000 if Edwards meets Rose Rule criteria. Includes 15% trade kicker. Starts in 2024/25.
Tyrese Haliburton (Pacers): Five years, maximum salary (story). Projected value of $204,450,000. Projected value can increase to $245,340,000 if Haliburton meets Rose Rule criteria. Includes 15% trade kicker. Starts in 2024/25.
Desmond Bane (Grizzlies): Five years, $197,230,450 (story). Includes $8,669,550 in incentives. Includes 15% trade kicker. Starts in 2024/25.
Devin Vassell (Spurs): Five years, $135,000,000 (story). Includes $11,000,000 in incentives. Starts in 2024/25.
Jaden McDaniels (Timberwolves): Five years, $131,000,000 (story). Includes $5,000,000 in incentives. Starts in 2024/25.
Onyeka Okongwu (Hawks): Four years, $62,000,000 (story). Starts in 2024/25.
Isaiah Stewart (Pistons): Four years, $60,000,000 (story). Includes $4,000,000 in incentives. Includes fourth-year team option. Starts in 2024/25.
Deni Avdija (Wizards): Four years, $55,000,000 (story). Starts in 2024/25.
Josh Green (Mavericks): Three years, $41,000,000 (story). Starts in 2024/25.
Cole Anthony (Magic): Three years, $39,100,000 (story). Includes third-year team option. Starts in 2024/25.
Aaron Nesmith (Pacers): Three years, $33,000,000 (story). Starts in 2024/25.
Zeke Nnaji (Nuggets): Four years, $32,000,001 (story). Includes fourth-year player option. Starts in 2024/25.
Payton Pritchard (Celtics): Four years, $30,000,000 (story). Starts in 2024/25.

Veteran contract extensions:

Jaylen Brown (Celtics): Five years, maximum salary (story). Projected value of $286,230,000 (super-max). Includes trade kicker (lesser of 7% or $7,000,000). Starts in 2024/25.
Giannis Antetokounmpo (Bucks): Three years, maximum salary (story). Third-year player option. Projected value of $175,883,400. Starts in 2025/26.
Anthony Davis (Lakers): Three years, maximum salary (story). Third-year player option. Projected value of $175,883,400. Starts in 2025/26.
Domantas Sabonis (Kings): Four years, $175,616,000 (story). Includes renegotiation (2023/24 salary increased by $8,600,000 to $28,000,000). $184,216,000 in total new money. Includes $10,400,000 in incentives (plus $2,600,000 in existing incentives in 2023/24). Extension starts in 2024/25.
Kawhi Leonard (Clippers): Three years, $149,650,000 (story). Includes 15% trade kicker. Starts in 2024/25.
Jrue Holiday (Celtics): Four years, $134,400,000 (story). Includes fourth-year player option. Starts in 2024/25.
Dejounte Murray (Hawks): Four years, $111,102,208 (story). Includes $9,015,993 in incentives. Includes fourth-year player option. Includes 15% trade kicker. Starts in 2024/25.
Josh Hart (Knicks): Four years, $80,915,820 (story). Includes fourth-year team option. Starts in 2024/25.
Grayson Allen (Suns): Four years, $70,000,000 (story). Includes fourth-year player option. Starts in 2024/25.
Kristaps Porzingis (Celtics): Two years, $60,000,000 (story). Starts in 2024/25.
Jarred Vanderbilt (Lakers): Four years, $48,000,000 (story). Includes fourth-year player option. Starts in 2024/25.
Zach Collins (Spurs): Two years, $34,821,696 (story). Starts in 2024/25.
Jordan Clarkson (Jazz): Two years, $28,378,291 (story). Includes renegotiation (2023/24 salary increased by $9,227,629 to $23,487,629). $37,605,920 in total new money. Includes $1,134,081 in incentives. Extension starts in 2024/25.
Kelly Olynyk (Raptors): Two years, $26,250,000 (story). Starts in 2024/25.
Richaun Holmes (Wizards): Two years, $25,929,058 (story). Second year partially guaranteed ($250K). Starts in 2024/25.
Mike Conley (Timberwolves): Two years, $20,750,000 (story). Starts in 2024/25.
Miles McBride (Knicks): Three years, $13,000,000 (story). Starts in 2024/25.

Note: Multiple veterans, including Nikola Vucevic (Bulls), Naz Reid (Timberwolves) and Harrison Barnes (Kings), signed extensions less than a week before the 2023/24 league year began. Those deals are listed in our 2022/23 extension tracker.

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Hoops Rumors Originals

More Contract Details: White, Lyles, A. Holiday, Draymond, D-Lo, More

July 11th, 2023 at 7:24am CST by Luke Adams

Coby White‘s new contract with the Bulls and Trey Lyles‘ new contract with the Kings both include unlikely incentives that could increase the value of those deals, Hoops Rumors has learned.

White’s three-year pact is guaranteed to be worth at least $36MM and has $1.3MM in annual incentives that could push the guard’s earnings up to $40MM in total. As for Lyles, he’ll make $8MM guaranteed salaries in each season of his two-year deal with Sacramento and could earn another $1.2MM in bonuses, which would increase the overall value of the contract to $18.4MM ($9.2MM per year).

Here are a few more details worth noting on several recently signed contracts:

Aaron Holiday‘s one-year, minimum-salary contract with the Rockets is only partially guaranteed. Holiday is assured of about $1.05MM and would receive his full $2.35MM salary if he remains under contract through at least January 7.
Draymond Green‘s four-year, $100MM contract with the Warriors includes a 15% trade kicker, while Jevon Carter‘s three-year, $19.5MM deal with the Bulls has a third-year player option.
Only the first season of Julian Champagnie‘s new four-year, $12MM contract with the Spurs is guaranteed. For each of the following three years, he’ll have to remain under contract beyond August 1 to guarantee his salary for that season.
A player who re-signs with his previous team on a one-year deal (or a two-year deal with a second-year option) has the right to veto a trade, since he’d lose his Bird (or Early Bird) rights if he’s dealt. However, the new Collective Bargaining Agreement allows a player to waive that right to veto a trade when he signs that sort of contract, and Lakers guard D’Angelo Russell became the first player to do so, per Keith Smith of Spotrac (Twitter link). Alex Len also waived his right to veto a trade as part of his new one-year deal with the Kings, Hoops Rumors has learned.

Contract Details: Sabonis, Middleton, VanVleet, Russell, Clark

July 10th, 2023 at 10:59pm CST by Dana Gauruder

The Kings’ renegotiation and extension of Domantas Sabonis‘ contract includes $203.6MM in guaranteed money, Michael Scotto of Hoops Hype tweets. The five-year deal also includes $13MM in incentives, raising its potential value to $216.6MM.

Sacramento used $8.6MM in cap room to give Sabonis a raise on next season’s salary – from $22MM to $30.6MM — then added four more years via the extension.

We have more contract-related notes:

Khris Middleton has a player option in the final season of his new three-year deal with the Bucks, Scotto tweets. As previously reported, his contract includes $93MM in guaranteed money and another $9MM in bonus incentives.
Fred VanVleet‘s huge three-year contract with the Rockets includes a 15% trade kicker, according to Blake Murphy of Sportsnet (Twitter link). The previously reported team option for the third year is valued at $44.89MM.
D’Angelo Russell‘s two-year contract with the Lakers is guaranteed for $36MM, Spotrac contributor Keith Smith tweets. The second season is a player option and Russell has $700K in incentives for both seasons. Additionally, Russell has waived his implied no-trade clause.
Jaylen Clark‘s two-way contract with the Timberwolves is a two-year deal, Smith tweets.
Leonard Miller‘s four-year, $8.3MM contract with the Timberwolves is guaranteed for the first two years, Scotto tweets. The third year is 50% guaranteed, and the fourth year is a team option.

Nets Notes: Smith Jr., Core Group, Wilson, Simmons, Johnson

July 10th, 2023 at 9:00pm CST by Dana Gauruder

After signing a one-year, veteran’s minimum deal with the Nets, Dennis Smith Jr. is prepared to accept whatever role he’s given, Brian Lewis of the New York Post writes. The 2017 lottery pick will be playing for his sixth NBA team next season.

“I’m going to have to come in and earn my minutes like everybody else. That’s on par with my brand. Ain’t nothing been given to me. So I’m looking forward to that,” he said.

We have more on the Nets:

The roster moves the Nets have made this offseason better define their core players, Lewis relays. Coach Jacque Vaughn has several players entering their prime years that he’s counting on. “Cam Johnson, Mikal Bridges, Ben Simmons, Nic Claxton, those are the 24-to-27-year-old range for us who are going to be able to grow together, define the culture,” Vaughn told NBA TV. “It’s a relentless culture is what we want: To be relentless teammates, be relentless competitors. So they’ll get a chance to define the culture going forward.”
Jalen Wilson, who signed a two-way contract last week, could develop into a 3-and-D factor. Wilson helped lead Kansas to a national title in 2022. “Jalen is just physical,” Nets Summer League coach Trevor Hendry told Lewis. “His ability to guard different positions and make catch-and-shoot 3s is something that he’s done at a pretty high clip.”
Ben Simmons won’t play for Australia in the FIBA World Cup this summer as he continues his lengthy rehab. Simmons hasn’t been scrimmaging but GM Sean Marks says Simmons is making progress from his back injury, Lewis tweets. “He’s not doing 3-on-3 or 5-on-5 yet. I was down there two weeks ago with him and the training staff and saw the progress,” Marks said. “Happy to report he’s in a great physical shape and also mentally. He’s rearing and champing at the bit to get out there.”
Cameron Johnson‘s new four-year contract, which has decreasing salaries during the second and third years, will increase the front office’s flexibility during the rebuilding process, Lewis notes.

Bulls Sign Adama Sanogo To Two-Way Deal

July 10th, 2023 at 8:13pm CST by Alex Kirschenbaum

JULY 10: The signing is official, the team’s PR department tweets.

JUNE 23: The Bulls are set to sign undrafted Connecticut center Adama Sanogo to a two-way contract, sources inform Adrian Wojnarowski of ESPN (Twitter link).

Sanogo, whose Huskies won the NCAA title this year, had been projected to be the last pick in the draft, No. 58, in ESPN’s final mock draft prior to tonight. In 39 games for Connecticut during 2022/23, the 6’9″ junior logged 17.2 PPG, 7.7 RPG, 1.3 APG, 0.8 BPG and 0.7 SPG. That block tally is actually his lowest ever in college. He boasts a career average of 1.2 BPG over the course of his three NCAA seasons. He also boasted solid shooting splits of .606/.365/.766.

Chicago was compelled to forfeit its own 2023 second round selection by the league as a penalty for tampering to sign point guard Lonzo Ball in free agency. Ball has played a total of 35 games in two years for the club.

The 21-year-old Sanogo was named the NCAA Final Four Most Outstanding Player for his efforts in the tourney this spring, in addition to qualifying for the NCAA All-Tourney Team. He was also a two-time All-Big East First Teamer during his collegiate stint.

Sanogo has a 7’3″ wingspan and is a hyper-efficient scorer near the basket, but questions linger about his height and defensive ability at the next level.

Dariq Whitehead Signs Rookie Scale Contract With Nets

July 10th, 2023 at 7:21pm CST by Dana Gauruder

The Nets have officially signed first-round pick Dariq Whitehead, according to a team press release.

As the No. 22 overall pick, Whitehead will receive $2,966,040 in his rookie season. His four-year contract will be worth a total of $14,709,751.

The salary figures assume that he signed for 120% of the rookie scale amounts for 2023’s first-round picks. First-rounders almost always get the maximum amount for their salary slot.

Rookie scale contracts are guaranteed for the first two years, with team options on the third and fourth years.

Whitehead spent one year at Duke. He averaged 8.3 points on 42.1% shooting from the floor and 42.9% shooting from 3-point range over 20.6 minutes per game in 28 games (seven starts).

The Nets choose Whitehead in the first round even though he underwent a second surgery on his right foot in May. Whitehead was considered a top-10 draft prospect when he committed to the Blue Devils.

Suns Notes: Okogie, Lee, Goodwin, Title Keys

July 10th, 2023 at 6:30pm CST by Dana Gauruder

Forward Josh Okogie‘s positive experience with the Suns last season convinced him to re-sign with the franchise on a one-year deal, he told Duane Rankin of the Arizona Republic. Okogie carved out a major role with Phoenix, appearing in 82 games, including 10 postseason contests.

“I took the deal looking at the long-term,” Okogie said. “Just in terms of being able to build, not only this year, but just my career. I’ve had a lot of success here, kind of revamped my career here last year, and they were able to give me a chance and be gracious on how they move in this organization. So I decided to take a chance on them again.”

We have more from the Suns:

Guard Damion Lee expressed similar feelings after returning to the franchise on a two-year, minimum-salary contract, which includes a player option for the second year. “It feels good,” Lee told Rankin. “I’m excited. I took a chance coming here last year on a one-year deal and being able to turn that into a multiyear deal. So, that’s huge for myself and my family. A little bit of security, but still trying to continue to find my way in this league and learn my teammates.”
The team has been taking a cautious approach to recently-acquired Jordan Goodwin during Summer League action, Rankin tweets. Goodwin, who was part of the Bradley Beal blockbuster, has been dealing with left knee soreness. He was ruled out of the team’s game on Tuesday, Gerald Bourguet of PHNX Sports tweets.
In a column, Rankin weighs in on what he thinks it will take for the Suns to win the championship next season. Good health, Devin Booker‘s play-making, and Deandre Ayton taking advantage of his offensive opportunities will be some of the key ingredients, he writes.

Blazers GM: Lillard Deal Could Be Months Away

July 10th, 2023 at 5:21pm CST by Dana Gauruder

Trail Blazers general manager Joe Cronin isn’t in any rush to deal Damian Lillard, according to Tim Bontemps of ESPN.

Cronis has explored the market for Lillard but hasn’t found a suitable deal. Lillard has expressed his desire to be traded, specifically to the Heat.

“I think the teams that have ended up in the most positive situations post-trade have been the ones that have been really diligent in taking their time and not been impulsive, or the teams that really kept their urgency under control,” Cronin said during a Monday news conference. “So I think that’s how my approach has been with this and will be with this. We’re going to be patient; we’re going to do what’s best for our team. We’re going to see how this lands. And if it takes months, it takes months.”

Cronin hasn’t had direct contact with Lillard since the perennial All-Star made his trade request on July 1. It came shortly after a meeting between the guard and Portland’s front office, after which Cronin released a short statement that implied Lillard wanted to stay.

The Blazers re-signed veteran forward Jerami Grant but otherwise haven’t done much with the roster since the draft. Cronin selected guard Scoot Henderson with the No. 3 overall pick instead of dealing it for a proven player. He drafted another teenager, Shaedon Sharpe, last year in the lottery.

“Building around Dame has always been the goal all the way, even through the draft,” Cronin said. “The difficult things we ran into were finding the right deals. In the previous two years, we drafted at seven, then we drafted at three. In the meantime we were scouring the market looking for more win now players and what kept happening was those players just weren’t available. … I could see why Dame would look at it and say. ‘Well this isn’t a win-now opportunity as much as, or this isn’t as much of a win-now opportunity as some other places. So from that regard, I mean I understand his position and I respect it and it makes sense to me why he would look to go elsewhere.”

While Cronin respects Lillard’s desire to go to Miami, the GM insists he won’t make that trade unless he gets the right package.

“What the rest of his career looks like matters to us and we care about that,” Cronin said. “At the same time, we have to do what’s best for us and we’ve got to find the right deal and find the right makeup of the team that we’re going to go forward with. So you hope that you can find that perfect situation where that lines up and he goes to a place that he wants to and you get the best return possible. It’s complicated, and usually it doesn’t work out just like that.”

The best solution, according to Cronin, would be for Lillard to change his mind about being traded, Aaron Fentress of The Oregonian tweets.

“The goal has always been to have Dame as a Trail Blazer and always will be. We want him to retire as a Trail Blazer,” Cronin said. “So, we’re very open minded to any time Damian wants to be a part of us.”

Pacers Pursuing Pascal Siakam

July 10th, 2023 at 3:49pm CST by Rory Maher

There has been increased talk around the NBA about the Raptors moving Pascal Siakam, with the Pacers viewed as a “legitimate trade contender” for the star forward, league sources tell Marc Stein at Substack.

The Hawks are another team that has been repeatedly linked to Siakam, Stein notes, and other unknown teams are likely in the mix as well.

Stein’s read on the situation in Toronto is that the Raptors want to give Scottie Barnes and OG Anunoby a bigger opportunity to expand their offensive games, particularly with Fred VanVleet‘s departure to Houston. Siakam’s heavy usage rate seems to stand in the way of that happening, according to Stein, who points out that Siakam (29) is several years older than Barnes (21) and Anunoby (25).

After a weekend at Summer League, Stein views a trade as a “far more likely outcome” than a contract extension. As of last week, Siakam and the Raptors had yet to formally meet to discuss a possible contract extension.

Michael Grange of Sportsnet.ca was first to report the Pacers’ interest in Siakam. He also wrote that the veteran’s absence at Summer League could be viewed as a sign that Siakam might be dealt, with the Raptors hoping to find a deal sooner rather than later.

A two-time All-NBA member, Siakam reportedly doesn’t want to play anywhere but Toronto. He averaged 24.2 points, 7.8 rebounds and 5.8 assists in 71 games (37.4 minutes) last season, with the points and assists per game representing career highs.

Hawks To Guarantee Bruno Fernando’s 2023/24 Salary

July 10th, 2023 at 2:38pm CST by Rory Maher

The Hawks intend to guarantee Bruno Fernando‘s $2.58MM contract for 2023/24, reports Lauren L. Williams of The Atlanta Journal-Constitution (via Twitter).

Fernando’s salary had previously been fully non-guaranteed, and today was the early salary guarantee deadline for the Hawks to decide whether they wanted to keep his cap hit on the roster. According to Williams, they’ll do just that.

The 34th pick of the 2019 draft, Fernando spent his first two NBA seasons with Atlanta before being traded to Boston in August 2021. The Celtics traded him to Houston six months later, and he spent a year with the Rockets until he was sent back to Atlanta at the February deadline.

In 39 combined games with the Rockets and Hawks in ’22/23, the 24-year-old big man averaged 3.9 PPG, 3.5 RPG and 0.9 BPG in 10.4 MPG. He was the third string center for Atlanta down the stretch, only receiving 41 total minutes over eight games.

Fernando’s contract is non-guaranteed at $2.72MM for ’24/25, and features a non-guaranteed $2.85MM team option in ’25/26.

Month: November 2024

Rookie scale contract extensions:

Veteran contract extensions: