- 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.
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.
The Hornets‘ poor play was one of the worst parts of Las Vegas Summer League, writes John Hollinger of The Athletic.
Despite having eight players on the roster attending (and a ninth, James Nnaji, as one of a handful of remaining unsigned draft picks), Charlotte went 1-6 and was minus-55 overall. No one played particularly well, with Hollinger noting that the team may end up regretting not taking Scoot Henderson instead of Brandon Miller, if their brief Summer League performances were any indication.
Of more immediate concern for the Hornets are the fourth-year team option decisions on 2021 first-round picks James Bouknight and Kai Jones, which are due by late October. Neither looks like a sure bet to have his option picked up, as both players struggled in Vegas despite entering their third seasons, Hollinger adds. Bouknight’s option in 2024/25 is worth $6.1MM, while Jones’ is worth $4.7MM — not exactly team-friendly rates given they haven’t contributed much thus far.
Nnaji showed some defensive promise, but may be a draft-and-stash prospect while he develops his offensive game, says Hollinger.
Among the other players who struggled in Summer League were Pistons center James Wiseman (poor screening and defense), Nets first-rounder Noah Clowney (looked overmatched) and Lakers draft picks Jalen Hood-Schifino and Maxwell Lewis, according to Hollinger.
Here’s more from around the basketball world:
- On the other end of the spectrum, Hollinger also revealed his under-the-radar Summer League standouts for The Athletic, including Javon Freeman-Liberty, who just agreed to a two-way deal with the Raptors, and Cavaliers guards Sam Merrill and Craig Porter Jr., the latter of whom went undrafted and signed a two-way contract with Cleveland. Hollinger says he would have given Merrill, whose contract for next season is non-guaranteed, the Summer League MVP award over Cam Whitmore.
- Free agent guard Mac McClung, who finished last season on a two-way deal with the Sixers, tells Sean Deveney of Heavy.com he’s focused on making another NBA team, but he’s open to going to Europe if he can’t find a roster spot. “We’ll see,” McClung said. “I am in free agency right now, my agent is talking to some teams, back and forth. We’re just trying to evaluate what is the best situation for me. Hopefully, I will be in the NBA next year and finding my way.”
- Former NBA big man Donatas Motiejunas has signed a two-year extension with AS Monaco Basket, the team announced (via Twitter). Donatas Urbonas of BasketNews.com had the scoop on Motiejunas’ extension (Twitter link). The 32-year-old spent six seasons in the NBA, ending with a brief stint with San Antonio back in 2018/19. He was productive on a per-minute basis for Monaco, which won France’s LNB Pro A and finished third in the EuroLeague playoffs.
- In 2023/24, the NBA G League’s Winter Showcase event will be held in Orlando instead of Las Vegas, league sources tell Jake Fischer of Yahoo Sports (Twitter link). The Showcase has been held Vegas for several years, but will be moving due to the NBA’s new in-season tournament, as the semifinals and final will be held in early December in Vegas.
With James Harden‘s trade request still unresolved, teams are monitoring the future of his Sixers teammate P.J. Tucker. According to a report from HoopsHype’s Michael Scotto, Tucker has come up in trade discussions between the 76ers and the Clippers, Harden’s reported preferred destination. The Clippers “covet” Tucker’s ability to guard multiple positions, according to Scotto.
Tucker, a teammate of Harden’s on the Rockets from 2017-21, joined the 76ers last summer on a three-year, $33MM deal to reunite with Harden and former Rockets general manager Daryl Morey. Harden and Tucker are close, with Harden reportedly taking less money last offseason to help bring Tucker aboard one of the Eastern Conference’s top contenders.
Tucker, a 12-year NBA veteran, is owed $11MM this upcoming season and has a player option worth $11.5MM for the 2024/25 season. At 38 years old, Tucker is one of the oldest active players in the NBA but he hasn’t shown any mileage yet, starting in all 75 of his appearances last season and averaging 25.6 minutes.
There’s more from Scotto:
- Free agent forward Rudy Gay, who was recently released by the Thunder, is drawing interest from several potential playoff teams, according to Scotto. The Warriors, Lakers, Mavericks, Bulls and Pelicans have all registered interest in Gay, per Scotto. Gay will be 37 by the time next season starts and while his role has diminished in each of the past three seasons, he’s still a seasoned veteran with 17 years of NBA experience. Gay averaged 5.2 points last season. Each team linked to Gay has at least one roster spot open and could offer him a one-year, veteran’s minimum which, for a player with 10+ years of experience, is worth roughly $3.2MM next season.
- Free agent guard Edmond Sumner, who was recently let go by the Nets, is also drawing attention from multiple teams, according to Scotto. The Hornets, Bucks, Raptors, Heat and Suns all have registered interest in the 27 year old. Scotto says that some of the named teams appear more likely than others to pursue a deal with Sumner. The Bucks have one roster spot open and no true point guard behind Jrue Holiday, but those around the league expect Milwaukee’s final spot to go to Thanasis Antetokounmpo, according to Scotto. The Suns also just filled their final standard roster spot with Bol Bol, so they would have to create space elsewhere. Meanwhile, the Heat are reportedly in a holding pattern amid Damian Lillard trade talks. On the other hand, the Hornets are searching for veteran point guard help and the Raptors lack point guard depth behind new addition Dennis Schröder.
- Before agreeing to a one-year deal with the Kings, center Nerlens Noel drew exploratory interest from the Lakers and Bulls, according to Scotto. The Lakers’ interest, in particular, is noteworthy due to their reported desire to add frontcourt depth to their roster. Free agent big men Christian Wood and Bismack Biyombo have also recently been linked to the Lakers.
Hornets star guard LaMelo Ball signed a five-year, maximum-salary designated rookie extension, worth up to a projected $260MM, with Charlotte earlier this summer.
During a press conference with gathered reporters, Ball and team president and general manager Mitch Kupchak spoke about the new agreement, as Roderick Boone of The Charlotte Observer reports.
“The decision, it wasn’t really hard,” Ball, the third draft pick in 2020, said. “All my years here I’ve had a good time. Life wasn’t bad. The basketball aspect, that’s not really going well. You kind of want to live your life and just have fun and just be living well. So in Charlotte I was doing that, so it just all felt like a great choice.”
Ball was limited to just 36 contests with the Hornets in 2022/23 due to ankle injuries, but was prolific on offense when he did play. The 6’7″ guard averaged 23.3 PPG on .411/.376/.836 shooting splits, along with 8.4 APG and 6.4 RPG. Charlotte has yet to make the playoffs during Ball’s NBA career.
“To have a player of LaMelo’s caliber with his game, with his youth, we know he is going to get better as a player,” Kupchak said. “He’s here every day. He certainly had a setback last year, but in terms of healing, he’s been 100 percent healed and he’s been on the court working out every single day trying to get better.”
There’s more out of the Southeast Division:
- Heat forward Haywood Highsmith recently saw his $1.9MM salary for the 2023/24 season become fully guaranteed, writes Anthony Chiang of The Miami Herald. “It’s a good step in the right direction for me,” Highsmith told Chiang. “Still developing, still trying to get better and big things coming for me, I hope. I’ve been working hard this offseason, so it’s definitely a good step in the right direction.” Former Miami teammate Udonis Haslem, now retired, unpacked how Highsmith approaches the game. “Undersized, not a guy who you’re going to run a lot of plays for, has to be efficient,” Haslem said. “His approach is a defensive-minded approach, so he takes the challenge every night. He’s just my guy.”
- Despite a winless five-game 2023 Summer League run, the Magic were able to learn about their two rookie lottery selections, while in turn educating No. 6 pick Anthony Black and No. 11 pick Jett Howard about the team’s own approach to its internal dynamics, writes Jason Beede of The Orlando Sentinel. “From everybody in the front office to the coaching staff to the players, everybody’s locked in,” Howard said, “We just met each other but we still had the willingness to keep fighting and sticking together. “Even down the stretch when we’re losing, we’re still cognate for one another. We showed up and worked hard in training camp. All of those things just make a culture.”
- On the cusp of his 11th NBA season, 32-year-old Wizards big man Mike Muscala isn’t taking his longevity for granted, writes Chip Scoggins of The Star Tribune. “As a young athlete, you’re always striving for something,” Muscala said. “It’s like, ‘I want to do this. I want to compete against this person.’ There’s still a lot of value in that. But once you kind of check those boxes, it’s like, now what? When you’re grateful for whatever situation you’re in and the opportunities you have, that’s been motivating me.”
JULY 19: Black’s two-way deal with the Hornets is now official, the team announced.
JUNE 23: The Hornets will use one of their two-way slots in 2023/24 on rookie free agent Leaky Black, reports Adam Smith of Inside Carolina. The two sides have agreed to a two-way deal.
A 6’8″ swingman, Black went undrafted out of North Carolina on Thursday. He spent five seasons with the Tar Heels, averaging 7.3 PPG and 6.5 RPG on .411/.326/.702 shooting in 33 games (32.1 MPG) during his super-senior year in 2022/23.
While Black’s offensive contributions are modest, he’s considered an asset on the other end of the floor, having made the ACC’s All-Defensive team in both 2022 and 2023.
Prior to attending UNC, Black was born and raised in Concord, North Carolina, so it’s a local signing for the Hornets.
Xavier Sneed, one of the players who finished the 2022/23 season on a two-way contract with the Hornets, has a deal that covers ’23/24 as well. Assuming Charlotte hangs onto him, the team will be able to carry one more two-way player in addition to Sneed and Black.
Hornets president of basketball operations Mitch Kupchak admits that retaining Miles Bridges might alienate some of the team’s fan base, Roderick Boone of the Charlotte Observer writes.
Bridges missed all of last season after being charged with felony domestic violence. He agreed to a plea deal and was subsequently suspended by the NBA, who will require him to sit out the first 10 games of ’23/24.
“It obviously is a polarizing topic and not everyone may agree,” Kupchak said during a Tuesday press conference. “It’s a tough situation to be in. But we started out with the legal process in Los Angeles, worked through the legal process, worked through the NBA’s investigation, our relationship with Miles, our conversations with Miles. Remorse, accountability. And it’s the best we can do. But yes, I do understand not everyone may agree.”
Bridges is returning to the Hornets after signing a qualifying offer. He’ll be an unrestricted free agent next summer.
Bridges realizes that some fans don’t want him back in the league.
“People think I don’t deserve a second chance and I understand that,” Bridges said. “So that’s what I’m going to try to use this year to prove to everybody just the person I am. Who is Miles Bridges and it’s not what people think he is, you know?”
Bridges noted he’ll have to repair the damage he caused.
“First of all, I just want to apologize to everybody for the pain and embarrassment that I caused everyone, but especially my family,” he said. “This year away, I’ve used it to prioritize just going to therapy and becoming the best person I can be — someone that my family and everybody here can be proud of.”
He believes he can make an impact with the current roster, which includes No. 2 overall pick Brandon Miller. “I feel like I can still fit in,” Bridges said.
As for the forward’s future, Kupchak pointed out that Charlotte will have the inside track on signing him next offseason.
“Upon the conclusion of the season, he will become an unrestricted free agent and he will have Bird rights,” Kupchak said. “So, in the NBA with Bird rights, that gives you an advantage when signing free agents. Beyond that, we will just have to wait and see how the season plays out. From a basketball point of view, putting aside the serious nature of what took place, we are excited to get him back. He had his best year ever two years ago, so we are excited to get him back. And whatever it is to deal with a year from now, we will deal with a year from now.”
The action on the NBA’s free agent market has slowed since the start of July, but there are still many FAs seeking new deals, including a notable group of under-the-radar players whose situations will need to be resolved in the coming days, weeks, and months.
A total of 12 two-way restricted free agents are still available, as our up-to-date list shows. Those players are as follows:
- Trent Forrest (Hawks)
- Theo Maledon (Hornets)
- Terry Taylor (Bulls)
- Lester Quinones (Warriors)
- Kendall Brown (Pacers)
- Jamal Cain (Heat)
- Matt Ryan (Timberwolves)
- Trevor Keels (Knicks)
- Duane Washington (Knicks)
- Dominick Barlow (Spurs)
- Jeff Dowtin (Raptors)
- Ron Harper Jr. (Raptors)
That group doesn’t include a 13th player, Neemias Queta, who is also a restricted free agent after finishing last season on a two-way deal. Although he remains eligible to sign another two-way contract, Queta was ineligible for a two-way qualifying offer after having played on a two-way with the Kings for consecutive seasons — his QO is a one-year, minimum-salary contract with a small ($75K) partial guarantee.
For the rest of these players, their qualifying offer is simply another one-year, two-way deal, which limits their leverage to negotiate a more lucrative standard contract.
Some two-way RFAs have managed to earn standard deals this offseason. A.J. Green of the Bucks was one. Julian Champagnie of the Spurs was another. Ty Jerome (Warriors) and Jack White (Nuggets) received standard contract offers from the Cavaliers and Thunder, respectively, that their former teams were unwilling to match, so Golden State and Denver simply withdrew their respective qualifying offers, making Jerome and White unrestricted free agents.
Offer sheets for two-way restricted free agents essentially never happen though. And in general, unless a team has earmarked a 15-man roster spot for a two-way free agent, it’s an uphill battle for these players to earn offseason promotions.
As a result, the majority of the dozen restricted free agents listed above will likely end up accepting their qualifying offers and hoping that their play in 2023/24 forces their clubs to find 15-man roster spots for them later in the season.
Still, it’s worth keeping an eye on this group to see if any of them can do better than another two-way — and to see how long some of them might be willing to wait in the hope of earning that opportunity.
The Cavaliers remain interested in adding at least one more free agent to their roster before training camp, sources tell Chris Fedor of Cleveland.com (subscriber link). According to Fedor, the team isn’t targeting any specific position and is simply focused on “playable depth.”
As Fedor outlines, the Cavaliers currently have 12 players on guaranteed contracts, plus Sam Merrill on a non-guaranteed deal. The club has about $3MM in breathing room below the luxury tax line and has no interest in becoming a taxpayer, so the 15th roster spot will probably remain open to start the season. In all likelihood, the Cavs would add one more player on a minimum-salary contract (or two, if Merrill is cut) in order to set the regular season roster.
Sources tell Fedor that Cleveland has registered interest in some of the top unrestricted free agents still available on the open market, including forward Kelly Oubre and center Christian Wood. Oubre was viewed as the Cavs’ Plan B if they hadn’t been able to land Max Strus via sign-and-trade, Fedor adds.
Fedor also mentions restricted free agent P.J. Washington, noting that the Cavs might have enough expendable salary (starting with Ricky Rubio and Dean Wade) to build a sign-and-trade package for the Hornets forward. However, I don’t see a scenario in which Cleveland could put together an offer that appeals to Charlotte, pays Washington the sort of money he’s seeking, and keeps the Cavs out of the tax.
Cleveland’s next signing will probably be a “minor” one, Fedor acknowledges, with the team looking to land a “cheaper-than-expected” rotation player at the veteran’s minimum like Golden State did with Dario Saric.
The Suns, Pacers and Knicks recently had exploratory trade talks on a deal that would have sent Cameron Payne to New York, T.J. McConnell to Phoenix, and Evan Fournier and draft picks to Indiana, league sources tell Michael Scotto of HoopsHype. Other iterations of the deal included Jordan Nwora, according to Scotto, though it’s unclear where the Pacers forward would have ended up in that framework.
However, the talks on the three-team trade have stalled, Scotto reports. Jake Fischer of Yahoo Sports was first to report the Suns and Pacers discussed a deal involving Payne and McConnell, and suggested the Knicks may have been involved as well.
Here’s more from Scotto’s latest article for HoopsHype:
- League sources tell Scotto that the Hornets are on the hunt for a backup point guard after Dennis Smith Jr. signed with the Nets in free agency. As Scotto previously reported, Charlotte had interest in Aaron Holiday, but he wound up signing with the Rockets. According to Scotto, one player on Charlotte’s radar is Wizards guard Delon Wright, who will make $8.2MM next season in the final year of his contract. The Wizards traded for Tyus Jones and Jordan Poole, and Wright was signed by the previous front office regime. The 31-year-old has already seen his name pop up in a few other trade rumors this offseason.
- Scotto recently spoke to a handful of second-round picks at Summer League about their goals entering their rookie seasons. Those players are Nuggets guard Jalen Pickett, Celtics forward Jordan Walsh, and Mouhamed Gueye and Seth Lundy of the Hawks. Walsh, the No. 38 pick of the 2023 draft, has high expectations for himself, he told Scotto. “If I get a chance to play with these guys and help the team, I want to be on the All-Defensive First or Second Team or Defensive Player of the Year,” Walsh said. “My goals are defensively oriented and winning a championship, which is No. 1. If I’m able to accomplish any of those things, I’d feel my rookie year went pretty well.”
- In case you missed it, we passed along some Raptors rumors and free agent rumors from Scotto as well.