MARCH 2: Gilyard’s two-way deal is now official, according to an announcement from the Nets.
MARCH 1: The Nets intend to sign former Grizzlies point guard Jacob Gilyard to a two-way contract, league sources tell Michael Scotto of HoopsHype (Twitter link).
Gilyard was previously on a two-way deal with the Grizzlies, but Memphis waived him last week in order to sign Jordan Goodwin.
Players on two-way contracts can only be active for 50 NBA games in a season. Gilyard was nearly at the 50-game limit, and the Grizzlies had a full 15-man standard roster. Instead of promoting him and having to waive someone from the standard roster, they decided to cut ties.
Gilyard, 25, was a college star at Richmond before going undrafted in 2022. He signed a two-way deal with Memphis at the end of 2022/23, appearing in one game as a rookie. In 37 games this season, he averaged 4.7 points and 3.5 assists while shooting 42.5% from deep in 17.7 minutes per contest.
On Friday afternoon, the Nets used a portion of their mid-level exception to promote rookie forward Jalen Wilson to a multiyear standard contract. That opened up a two-way spot, which Gilyard is set to fill.
Does the 50-game limit restart with a new team or are the Nets only allowed to get him into a few games?
He’ll get a prorated portion of the 50-game limit (which works out to 13 games).