Charlotte Hornets Rumors | Hoops Rumors

Hornets Waive Xavier Sneed

August 3rd, 2023 at 3:58pm CST by Rory Maher

The Hornets have waived forward Xavier Sneed, who was on a two-way contract, per a team press release.

Sneed, 25, spent most of the 2022/23 season with the Greensboro Swarm, Charlotte’s NBAGL affiliate, appearing in a total of 44 games with the club across the Showcase Cup and regular season. In 32 regular season appearances (31.2 MPG), Sneed averaged 12.5 points, 4.7 rebounds, and 2.4 assists per night with a .393/.318/.738 shooting line.

He received a 10-day contract from Charlotte at the end of last season and then signed a two-way deal just before the season ended. He appeared in four games with the Hornets, averaging 4.3 points in 12.0 minutes.

Sneed, who also had brief NBA stints with the Grizzlies and Jazz, has spent the bulk of his three-year professional career playing in the G League, primarily with the Swarm. The former Kansas State product went undrafted in 2020.

As our roster count shows, the Hornets currently have 14 players on standard contracts (12 guaranteed), a pair on two-way deals after releasing Sneed, two unsigned restricted free agents (P.J. Washington and Theo Maledon), and one unsigned draft pick (James Nnaji, who was selected 31st overall).

Sale Of Hornets Finalized

August 3rd, 2023 at 9:34am CST by Arthur Hill

The purchase of Michael Jordan’s majority stake in the Hornets by a group led by Gabe Plotkin and Rick Schnall has been finalized, the team announced in a press release. The sale was approved by the NBA’s Board of Governors last month.

Plotkin and Schnall will immediately take over controlling interest in the team. They will serve as co-chairmen of Hornets Sports & Entertainment and will rotate the governorship every five years, starting with Schnall.

“Our vision is to take the Hornets to the next level, both on and off the court,” the new owners stated in the release. “We will look to build a highly competitive basketball team, develop innovative business practices, give back to our community and connect with our fans. We plan to further invest in the team, the facilities and the fan experience, with the goal of delivering a winner to our fans throughout the Carolinas. We are confident that our successful business backgrounds and our previous experience as NBA minority owners will be beneficial as we shape the future of the franchise as a best-in-class organization.”

Schnall had been a minority owner of the Hawks and an alternative on the league’s Board of Governors since 2015. Plotkin has held a minority stake in the Hornets since 2019 and served as a Board of Governors alternate as well. Their ownership group includes entertainers J. Cole and Eric Church, who are both from North Carolina.

Jordan, who has owned the team since 2010, will remain a minority owner and an alternate governor, the press release confirms. The purchase price isn’t disclosed, but ESPN’s Adrian Wojnarowski has reported that the franchise is being valued at $3 billion for the sale.

“The opportunity to be the majority owner of the Charlotte Hornets in my home state of North Carolina for the last 13 years has been a tremendous honor,” Jordan said. “I’m proud of all that the organization accomplished: the exciting on-court moments, the return of the Hornets name, Charlotte hosting the 2019 NBA All-Star Game and HSE becoming a true pillar of this community. Through the years, the unwavering commitment, passion and loyalty of our Hornets fans has been incredible.

“As I transition into a minority ownership role, I’m thrilled to be able to pass the reins to two successful, innovative and strategic leaders in Gabe and Rick. I know the Hornets organization is in great hands moving forward. I’m excited about the future of the team and will continue to support the organization and the community in my new role in the years ahead.”

Southeast Notes: Hornets, J. Richardson, D. Robinson, Gallinari

August 2nd, 2023 at 7:29pm CST by Rory Maher

Restricted free agent P.J. Washington and the Hornets remain at an impasse in contract negotiations and there have been “no indications” of that changing anytime soon, league sources tell Roderick Boone of The Charlotte Observer.

Boone examines the team’s roster and depth chart entering the 2023/24 season, writing that No. 2 overall pick Brandon Miller projects to come off the bench behind veterans Terry Rozier and Gordon Hayward.

Assuming Washington is on the roster, he’ll have the inside track for the starting power forward position, with Miles Bridges suspended for the first 10 games. However, Boone wonders if the Hornets will eventually pivot to Bridges if they get off to a slow start.

2021 first-round picks James Bouknight and Kai Jones will likely find minutes tough to come by, Boone adds.

Here’s more from the Southeast:

Appearing at the Heat‘s youth camp on Wednesday, returning swingman Josh Richardson said Damian Lillard is the best player he’s played against, as Ira Winderman of The South Florida Sun Sentinel relays. Lillard’s status, of course, has been one of the primary stories of the offseason, as the longtime Trail Blazers star requested a trade to Miami. Richardson, a free agent signee, said his game is malleable and he’s ready for whatever role he’s given. “I mean, you know how (head coach Erik Spoelstra) Spo is, he’s kind of like, ‘I can put you out there and do anything,’” Richardson said of not sweating how the roster or his role ultimately could shake out. “So it’s kind of what I’m good at. I’m kind of a jack of all trades. Our talk was good before, but I’ll guess we’ll see more concrete once the games get started.”
In a subscriber-only mailbag for The Sun Sentinel, Winderman notes that while losing Max Strus‘ shooting could make Duncan Robinson more valuable to the Heat, the latter certainly isn’t irreplaceable. Robinson’s name has popped up in trade rumors for several months and he could be used as a salary-matching piece in a possible Lillard deal.
Wizards forward Danilo Gallinari, who was acquired from Boston as part of the Kristaps Porzingis trade, says he’s looking forward to competing against the Celtics next season, according to Daniel Donabedian of Clutch Points. “I can’t wait to play against Boston,” Gallinari said on the Italian A Cresta Alta podcast. “When the schedule will be unveiled, I’ll put an X on the games we will play at Boston against the Celtics.” Gallinari grew up idolizing Celtics legend Larry Bird and hoped to win a title in Boston, but missed all of last season after tearing his ACL last year.

And-Ones: D. Rivers, M. Jackson, Bahamas, Shooting Tech, Contracts

July 31st, 2023 at 3:55pm CST by Rory Maher

After letting go of Jeff Van Gundy last month, ESPN/ABC has also laid off fellow analyst Mark Jackson, sources tell Andrew Marchand of The New York Post. Jackson confirmed the news in an interview with Peter Vecsey, Marchand adds (via Twitter).

As Marchand writes, the new top NBA broadcast team at ESPN/ABC will be comprised of longtime play-by-play announcer Mike Breen, former Sixers head coach Doc Rivers, and Doris Burke, who is being promoted. The hiring of Rivers and promotion of Burke aren’t yet official, but they are “quickly moving in that direction,” according to Marchand.

Barry Jackson of The Miami Herald confirms Marchand’s reporting (via Twitter).

Here’s more from around the basketball world:

The Suns‘ Deandre Ayton and Eric Gordon, Pacers wing Buddy Hield, and Hornets big man Kai Jones are on the 2024 Olympic qualifying roster for the Bahamas, per Marc J. Spears of Andscape. The Bahamian national team will play its qualifying games in Argentina from August 14-20. “I’m excited to be back playing for Team Bahamas and to see how much the program has grown,” Ayton told Spears. “Can’t wait to play with my guys. It’s truly a special experience to compete with teammates – who are from where you’re from – with Bahamas on your chest.”
Tim MacMahon of ESPN details how Breakaway Data — a startup focused on the biomechanics of shooting — has partnered with Overtime Elite and Las Vegas Summer League to provide detailed breakdowns of each player’s shot. “I thought it was very informative,” Overtime Elite product Amen Thompson, drafted fourth overall by the Rockets, told ESPN. “Not everything works for everybody, but that [data] can’t really be a bad thing. It can only help to get as much information as possible. I felt like that’s what it gave us.”
Which players have inked the most lucrative contracts in NBA history? Yossi Gozlan of HoopsHype provides the list. Jaylen Brown‘s new super-max extension with the Celtics is the current largest deal ever, Gozlan notes.

Hornets Notes: Washington, Bouknight, Jones, Martin

July 29th, 2023 at 10:45pm CST by Arthur Hill

The situation surrounding Hornets forward P.J. Washington has been “amazingly quiet,” Marc Stein states in his latest Substack chat. With nearly a month elapsed since free agency began, Washington remains the most prominent player without a new contract and there’s little indication that the impasse will be resolved soon.

Washington is restricted, so Charlotte can match any offer sheet he might receive, but free agency money dried up weeks ago. No one has the resources to offer him a contract starting at more than the non-taxpayer mid-level exception of about $12.4MM without working out a sign-and-trade. Stein speculates that Washington may decide to accept the Hornets’ $8.5MM qualifying offer and test the market again next summer when he’s unrestricted.

That same theory is floated by Roderick Boone of The Charlotte Observer, who notes that threatening to take the QO is the only way Washington can gain any leverage in negotiations. Like Stein, Boone reports that everything appears to be “status quo,” but cautions that doesn’t mean progress isn’t being made behind the scenes.

There’s more from Charlotte:

There’s no clear path to playing time for either James Bouknight or Kai Jones, Boone adds in the same piece. The selection of Brandon Miller with the No. 2 pick in the draft creates another obstacle for Bouknight, who hasn’t made a significant impression during his first two NBA seasons. Another wing player may have to be injured for Bouknight to get a shot at rotation minutes. As for Jones, he’s third on the depth chart behind Mark Williams, a first-round pick last year, and Nick Richards, who recently signed a three-year, $15MM extension. Boone states that coach Steve Clifford doesn’t like using three centers, so there doesn’t seem to be a role for Jones.
The Hornets may be in the market for a ball-handling guard after Dennis Smith Jr. signed with the Nets, according to Boone. He notes that there’s no one on the roster who would be a natural backup to LaMelo Ball, so that role would likely go to Terry Rozier, which would push his minutes above where the team wants them to be.
It’s encouraging that Cody Martin hasn’t undergone surgery for the knee issues that limited him to seven games last season, Boone adds. However, he points out that the Hornets won’t know how Martin’s knee will hold up until he resumes playing a regular schedule. The small forward has three seasons left on his four-year, $31MM contract.

Former Warriors Exec Bob Myers Likely To Get Job Offers

July 29th, 2023 at 9:14pm CST by Arthur Hill

Bob Myers indicated that he wanted some time away from the game when he stepped down as president of basketball operations and general manager of the Warriors, but fans should expect to hear his name mentioned in connection to any openings that arise in the next few months, writes Jake Fischer of Yahoo Sports.

The most obvious team for Myers, according to Fischer, is the Clippers because of his longtime association with team consultant Jerry West and the working relationship they developed during their time together with Golden State. Myers spent more than a decade with the Warriors and helped to win four championships, so Fischer believes he’ll be among the first names that any team will call if it decides to shake up its front office.

Fischer identifies a few other former general managers who may be in line for a second chance, including ex-Utah GM Dennis Lindsey, who is currently working in the Mavericks‘ front office, Kings assistant GM Wes Wilcox, who has rebuilt his reputation after his experience in Atlanta, and former Orlando GM Rob Hennigan, who is VP of basketball operations with the Thunder.

Fischer passes along more information about rising stars in NBA front offices:

Pelicans general manager Trajan Langdon was among the candidates to become the Wizards’ president of basketball operations and he’ll likely be considered for similar jobs in the future, Fischer writes. Raptors GM Bobby Webster, Cavaliers GM Mike Gansey and new Clippers GM Trent Redden all appear headed for team president roles someday, Fischer adds.
Jeff Peterson, the Nets‘ assistant GM, is considered one of the league’s best young executives, according to Fischer. Peterson interviewed for the Pistons’ GM slot in 2020, and Fischer hears that he’s viewed as one of the favorites to take over the Hornets if they decide to replace Mitch Kupchak, who’s in the final year of his contract. Pelicans assistant GM Bryson Graham could be first in line to replace Langdon if he leaves, but league sources tell Fischer that he might get an opportunity with another team before that happens.
Tayshaun Prince is a valuable member of the Grizzlies‘ front office and has received overtures about running other teams, according to Fischer. Among other former NBA players, Jameer Nelson has built a strong reputation in the Sixers‘ front office for his work with their G League affiliate, and Acie Law appears headed for a promotion with the Thunder after Will Dawkins was hired by the Wizards.
Fischer identifies CAA’s Austin Brown as an agent who might move into a front office role, noting that he was a candidate to run the Bulls in 2020. Fischer also singles out agents Jason Glushon and Todd Ramasar, along with Kirk Berger, a legal counsel with the players’ union.

Contract Details: Noel, Dowtin, White, Jordan, Matthews, More

July 26th, 2023 at 2:55pm CST by Luke Adams

The one-year, minimum-salary contract that Nerlens Noel signed with the Kings is currently only partially guaranteed for $300K, Hoops Rumors has learned. Noel would see his partial guarantee increase to $600K if he hasn’t been waived by the first game of the regular season this fall. In order to receive his full salary, he’d need to remain under contract through at least January 7.

Here are more details on a few recently signed NBA contracts:

Jeff Dowtin‘s one-year, minimum-salary contract with the Raptors is fully non-guaranteed for the time being. However, the guard would receive a partial guarantee worth $900K if he’s not waived on or before October 21, reports Blake Murphy of Sportsnet.ca (Twitter link).
The Thunder signed Jack White to a two-year, minimum-salary contract that includes a $600K partial guarantee in year one and a team option for 2024/25, Hoops Rumors has learned.
The one-year, minimum-salary deals signed by DeAndre Jordan (Nuggets) and Wesley Matthews (Hawks) are fully guaranteed, Hoops Rumors has learned.
The two-way contracts signed by Omari Moore (Bucks) and Leaky Black (Hornets) cover two years rather than just one, Hoops Rumors has learned.
Sixers center Montrezl Harrell and Nuggets guard Reggie Jackson waived their right to veto trades during their 2023/24 season, Hoops Rumors has learned. As we detailed earlier today, players who re-sign with their previous teams on one-year deals (or two-year deals with a second-year option) get trade veto rights by default, but can choose to give up those rights.

NBA Teams Facing Potential Fall Roster Crunches

July 26th, 2023 at 8:02am CST by Luke Adams

With two months to go until NBA teams report to training camps, there’s no need for a club to have its 21-man offseason roster – let alone its 15-man standard roster for the regular season – set in stone at this point.

Still, many rosters around the league are clearly taking shape, with several teams carrying 14 or 15 players on standard guaranteed contracts and seemingly unlikely to make any more major changes this offseason.

There are also a handful of teams carrying more than 15 standard contracts who will have to trade or waive at least one or two of those players before the regular season begins in order to adhere to the NBA’s regular season roster limit.

Here are some of the teams who will be facing possible roster crunches in the coming months:

Oklahoma City Thunder

(20 standard contracts)

The Thunder have been a willing trade partner for teams looking to dump unwanted contracts this offseason, and it has resulted in Oklahoma City becoming the first club to reach its full 21-man roster limit (its 21st player, Keyontae Johnson, is on a two-way contract).

Of the Thunder’s 20 players on standard deals, at least 17 have guaranteed salaries for 2023/24. That group doesn’t include Jack White, whose full contract details have yet to be reported, or Isaiah Joe and Aaron Wiggins, both of whom are on non-guaranteed contracts after playing well in rotation roles in ’22/23.

If the Thunder intend to keep White, Joe, and Wiggins into the regular season, they’ll have to trade or waive five players on guaranteed salaries. The players recently acquired in those salary-dump deals – including Victor Oladipo, Davis Bertans, TyTy Washington, and Usman Garuba – would probably be most at risk. Of the Thunder’s returning players, Tre Mann and Jeremiah Robinson-Earl are among those whose roster spots may not be fully secure.

Memphis Grizzlies

(17 standard contracts)

Like the Thunder, the Grizzlies took on some unwanted contracts in offseason trades in order to acquire other assets.

The two players Memphis received in those deals – Josh Christopher and Isaiah Todd – are the most likely odd men out for the 15-man regular season roster, since none of Memphis’ other 15 players are obvious trade or release candidates.

San Antonio Spurs

(17 standard contracts)

The Spurs actually only have 16 players on standard contracts for the time being, but are reportedly bringing back Sandro Mamukelashvili on a one-year deal. He has yet to officially re-sign and the exact details of his contract are unclear.

Assuming San Antonio plans to have Mamukelashvili on its 15-man regular season roster, the team will need to trade or waive two other players before opening night. That number could grow if the Spurs want to sign Dominick Barlow or Sidy Cissoko to a standard contract, but they do have two-way slots available for both.

Cameron Payne, Cedi Osman, Reggie Bullock, Devonte’ Graham, and Khem Birch are a few of the veterans on expiring or pseusdo-expiring contracts who probably aren’t in the Spurs’ long-term plans. But some of those guys would be useful contributors on the court this season and might have a little trade value, so San Antonio might not be done dealing.

Washington Wizards

(16 standard contracts)

The Wizards have a new front office in place for this season, so some of the reserves on expiring contracts who were brought in by the old regime could be candidates to be traded or waived. That group includes Delon Wright, whose name has come up in trade rumors this summer, Xavier Cooks, whose multiyear deal is only guaranteed for 2023/24, and Anthony Gill.

The new regime has also acquired a few players this offseason who may have been traded for financial or salary-matching reasons more than for how they fit into the Wizards’ plans going forward. Of those players, Danilo Gallinari and Mike Muscala are on expiring contracts, while Patrick Baldwin and Landry Shamet aren’t currently owed guaranteed money beyond 2023/24 (Ryan Rollins has a $600K partial guarantee in ’24/25).

It wouldn’t shock me if the Wizards end up moving off multiple players on the current roster and making another addition or two before the regular season begins.

Others to watch

The Hawks are currently carrying 16 players on standard contracts, but only 15 are guaranteed, making Vit Krejci and his non-guaranteed salary the probable odd man out. Atlanta also reportedly remains active in trade talks, which could further shake up the roster.

The Hornets only have 12 players on guaranteed salaries, but they also have a pair (JT Thor and Kobi Simmons) on non-guaranteed deals, plus a pair of restricted free agents (P.J. Washington and Theo Maledon) and a No. 31 overall pick (James Nnaji) who remain unsigned. Charlotte can comfortably manage the 15-man limit, especially if Nnaji spends the season overseas, but may have to deal with a minor roster crunch if Washington and Maledon both return.

The Clippers, like the Hawks, have 15 players on guaranteed salaries and a 16th (Jason Preston) on a non-guaranteed deal. Los Angeles pushed back Preston’s guarantee date, which suggests the team may be open to hanging onto him if a roster spot becomes available (perhaps in multi-player James Harden trade?).

The Trail Blazers and Sixers are worth monitoring, since they would likely take back more players than they send out in any trade involving Damian Lillard or Harden. For now though, both teams have plenty of roster space — Portland has 13 players on standard contracts (12 fully guaranteed), while Philadelphia has 14 (13 fully guaranteed).

James Dolan Cast The Only Vote Against Hornets' Sale

July 24th, 2023 at 9:22am CST by Arthur Hill

Knicks owner James Dolan cast the only vote against the sale of the Hornets, tweets ESPN’s Adrian Wojnarowski. The transfer of a majority stake in the team to a group led by Rick Schnall and Gabe Plotkin was approved by a 29-1 margin.

NBA’s Board Of Governors Approve Sale Of Hornets

July 23rd, 2023 at 4:45pm CST by Dana Gauruder

The NBA’s Board of Governors has approved the sale of the Hornets to a group led by Rick Schnall and Gabe Plotkin, ESPN’s Adrian Wojnarowski reports.

Michael Jordan agreed to sell his majority stake in the franchise last month after a 13-year run as the team’s majority owner. The Hall of Famer is expected to remain involved with the franchise as a minority shareholder.

The completed sale of the team, which was purchased at an approximate $3 billion valuation, is expected to be formally executed within the next two weeks. Jordan, who had been the league’s lone Black majority owner, paid $275MM for a majority stake in the franchise in 2010.

Schnall, the co-owner of a private equity firm, and Plotkin are not newcomers to NBA ownership. Schnall had been a minority owner of the Hawks, while Plotkin had a minority share of the Hornets. They’ll now serve as the franchise’s co-governors.

Plotkin, founder and chief investment officer of Melvin Capital, acquired his minority share from Jordan in 202o. Another minority owner of the franchise, Daniel Sundheim, is also part of the purchasing group.