- Due to NBA rules regarding Base Year Compensation, the Bulls‘ trade exception in the deal that sent Daniel Theis to Houston will be his 2020/21 salary of $5MM instead of his new outgoing salary of $8MM+, tweets Bobby Marks of ESPN. That means Chicago will have to sign Alex Caruso outright, rather than arranging a sign-and-trade with the Lakers. The Bulls will presumably use their mid-level exception for Caruso, adds K.C. Johnson of NBC Sports Chicago (Twitter link).
AUGUST 7: The sign-and-trade deal with the Bulls is official, the Rockets announced in a press release, with Chicago getting cash considerations in return.
“Daniel is a versatile center who impacts both ends of the court,” Rockets general manager Rafael Stone said. “We’re looking forward to adding his skillset to our young core and giving Coach (Stephen) Silas even more flexibility with his lineups.”
Theis’ new four-year contract includes a 15% trade kicker, reports Michael Scotto of HoopsHype (via Twitter).
AUGUST 2: The Rockets will fortify their frontcourt by signing Daniel Theis to a four-year contract worth $36MM, his agents at CAA Basketball tell Adrian Wojnarowski of ESPN (Twitter link).
Theis was frequently linked to Houston in the days leading up to free agency. As Tim MacMahon of ESPN notes (via Twitter), Houston’s plan is to work with the Bulls, Theis’ old team, to complete a sign-and-trade deal that would allow the Rockets to fit the center into their leftover trade exception from the Victor Oladipo trade.
That trade exception is worth about $8.2MM and could be used to sign Theis to a contract worth up to $35.6MM over four years. Taking that approach would preserve Houston’s mid-level exception for another signing (or multiple signings).
According to Jonathan Feigen of The Houston Chronicle (Twitter link), the Rockets are expected to send cash to the Bulls to finalize the sign-and-trade.
Theis, 29, averaged a career-high 9.6 PPG in 2020/21 in 65 games (24.6 MPG) for Boston and Chicago. He also contributed 5.5 RPG and 0.9 BPG while shooting 54.1% from the floor and even launching the occasional three-pointer (32.2% on 2.3 attempts per game).
While Theis isn’t particularly dangerous on the offensive end, he’s a solid defender who will give the Rockets another reliable veteran in the frontcourt alongside Christian Wood.
The NBA has launched investigations into two of the sign-and-trade deals that were agreed upon early in free agency, according to ESPN’s Adrian Wojnarowski and Ramona Shelburne.
Those two deals are the one that sent Kyle Lowry from the Raptors to the Heat – which was officially announced on Friday – and the one sending Lonzo Ball from the Pelicans to the Bulls, which hasn’t been officially completed yet. The NBA is set to investigate possible violations of its tampering policy.
According to Wojnarowski and Shelburne, the league is expected to look into any contact that may have occurred prior to the opening of the free agency negotiating period on Monday at 5:00pm CT. Both agreements were reported within minutes after the negotiating period began.
It’s an open secret that teams and agents begin free agent discussions before the negotiating period officially starts, but the NBA generally frowns on any deals that blatantly violate those rules. Sign-and-trades receive even more scrutiny since they’re more complex and typically require more time to complete than a typical free agent negotiation, Wojnarowski and Shelburne note.
Last year, for instance, an alleged sign-and-trade agreement involving the Bucks, Kings, and Bogdan Bogdanovic was reported several days before free agency officially began. The league ended up taking away Milwaukee’s 2022 second-round pick after investigating that situation, while Bogdanovic – who claimed he never agreed to terms with the Bucks – landed in Atlanta instead.
We’ll see what the investigation into the Lowry and Ball sign-and-trades turns up this year. It’s unlikely that the league would nix either deal, but fines and/or draft-pick penalties don’t seem out of the question, given the manner in which the deals were publicly reported.
One Monday report outlined the specifics of the Lowry sign-and-trade to the Heat nearly three hours before free agency began, though there was some uncertainty for much of the week about whether the deal would involve more pieces than just Goran Dragic and Precious Achiuwa. Lowry’s commitment to Miami was confirmed just minutes into free agency and his agency announced his destination shortly thereafter.
Ball’s deal with the Bulls was reported literally the minute the negotiating window opened, with the full terms of the trade agreement – including another sign-and-trade involving Garrett Temple – surfacing just seven minutes later.
As Wojnarowski notes (via Twitter), the NBA adopted new anti-tampering measures two years ago, giving the league the power to fine teams for up to $10MM, suspend executives, take away draft picks, or even void deals altogether if proof of tampering is found.
The Bucks’ second-round pick forfeiture is the most significant penalty we’ve seen since then. However, as Wojnarowski and Shelburne point out, the NBA’s decision in that case took into consideration that Bogdanovic didn’t end up signing with Milwaukee, so the league could come down a little harder on Miami and/or Chicago.
AUGUST 7: Oubre and the Hornets have now finalized a two-year, $25MM contract, agent Torrel Harris tells Chris Haynes of Yahoo Sports (Twitter link). Charlotte announced the signing in a press release.
It appears Oubre’s starting salary will come in slightly lower than initially expected after Charlotte took on Wesley Iwundu in a trade with New Orleans.
The deal won’t feature any options, per Michael Scotto of HoopsHype (Twitter link). However, Rod Boone of SI.com (Twitter link) says the second year will be partially guaranteed and Anthony Slater of The Athletic provides the specifics, tweeting that $5MM of Oubre’s $12.6MM salary for 2022/23 will be guaranteed.
AUGUST 5: The Hornets and free agent wing Kelly Oubre are in agreement on a two-year deal that will be worth $26MM+, sources tell Shams Charania of The Athletic (Twitter link).
David Aldridge of The Athletic reported earlier on Thursday that the Hornets and Oubre had engaged in discussions, while Chris Haynes of Yahoo Sports was first to report that the two sides were finalizing a multiyear deal expected to exceed $12MM per year.
Charlotte, one of the only NBA teams that still had the cap room necessary to make an offer worth more than the full mid-level exception ($9.5MM), had also reportedly been mulling an offer sheet for Lauri Markkanen. However, the Hornets’ agreement with Oubre will eat up most – if not all – of their remaining cap room, presumably taking an aggressive bid for the Bulls‘ restricted free agent forward off the table.
Oubre, 25, has spent time with the Wizards, Suns, and Warriors since entering the league as the 15th overall pick in the 2015 draft. In 2020/21, he averaged 15.4 PPG and 6.0 RPG on .439/.316/.695 shooting in 55 games (30.7 MPG) for Golden State.
While Oubre possesses good size and athleticism for a three-and-D wing, his three-point shot has been inconsistent over the course of his career (32.6%).
Charlotte will be hoping to get the 2019/20 version of Oubre, who averaged 18.7 PPG with a .352 3PT% for the Suns. The former Kansas Jayhawk will join a talented group of Hornets forwards that includes Gordon Hayward, Miles Bridges, and P.J. Washington.
Since the Hornets have the ability to sign Oubre outright using their cap room and his new contract will only be for two years, it won’t be a sign-and-trade deal involving the Warriors.
The Celtics have offered Marcus Smart a four-year extension, longtime beat writer Mark Murphy tweets. The Celtics are awaiting a response from Smart’s agent, Jason Glushonworth, on an extension worth approximately $17MM annually, Murphy adds (Twitter link). The maximum possible extension the Celtics could give Smart would be worth around $77MM, Ryan McDonough of NBC Sports Boston tweets. The extension would kick in during the 2022/23 season. Smart has an expiring $14.33MM contract for next season.
We have more tidbits from the Eastern Conference:
- The assumption that Rokas Jokubaitis was a draft-and-stash pick by the Knicks last month may not be entirely accurate. The Lithuanian guard, chosen with the No. 34 pick, hasn’t ruled out the possibility of playing in the NBA this season, Marc Berman of the New York Post tweets. It’s unclear whether New York is on board with that possibility or if the team prefers to stash Jokubaitis for at least a year.
- The Magic have settled on a number of coaching hires to assist new coach Jamahl Mosley, Josh Robbins of The Athletic tweets. Nate Tibbetts, Jesse Mermuys, Dale Osbourne, Bret Brielmaier and Lionel Chalmers will join Mosley on the bench. The expected hires of Tibbetts and Osbourne were previously reported.
- If LaMarcus Aldridge chooses to come out of his health-related retirement, the Bulls could be his destination. Both K.C. Johnson of NBC Sports Chicago and Joe Cowley of the Chicago Sun-Times report that there could be mutual interest between the club and the veteran big man (Twitter links). Aldridge would require team medical clearance from his heart-related issues in order to sign a contract and take the court again.
AUGUST 11: The signing is official, according to NBA.com’s transactions log.
AUGUST 6: The Bulls are re-signing Javonte Green to a two-year contract, ESPN’s Adrian Wojnarowski reports (via Twitter). Chicago recently issued Green a $1.9MM qualifying offer to make him a restricted free agent.
Green appeared in 16 games with the team last season after being acquired in a three-team, trade-deadline deal back in March. He started the campaign with Boston and appeared in a total of 41 games between the two teams, averaging 3.6 PPG and 1.7 RPG in 11.5 minutes per contest.
Chicago has made significant upgrades to its roster this year, trading for All-Star center Nikola Vucevic before the deadline and reaching sign-and-trade deals to land Lonzo Ball and DeMar DeRozan this week. The team also agreed to a four-year contract with Alex Caruso.
Green is expected to provide depth for the franchise as it competes for a spot in the playoffs next season. The 28-year-old swingman went undrafted back in 2015 and holds 89 games of NBA experience.
Bulls restricted free agent forward Lauri Markkanen is looking to leave Chicago this offseason, he tells Finnish journalist Antti-Jussi Sipilä of Yle.fi (hat tip to Chris Haynes of Yahoo Sports).
“We have offers from several different teams,” Markkanen said in Finnish. “I want a fresh start to my NBA career somewhere else.”
The seventh overall pick in the 2017 draft, Markkanen showed a ton of promise as a stretch four during his first two NBA seasons, posting a career-high 18.7 PPG and 9.0 RPG on .430/.361/.872 shooting in 52 games (32.3 MPG) in 2018/19. However, his development trajectory has leveled off since then, as he has battled a series of injuries and provided up-and-down production.
Chicago issued Markkanen a $9MM qualifying offer last week, making him a restricted free agent and giving the team the right to match any offer sheet he signs.
With cap room drying up across the league, there are few teams left that could realistically sign the 24-year-old outright to an offer sheet that exceeds the Bulls’ qualifying offer or the full mid-level exception ($9.5MM). The Hornets were said to be mulling an offer sheet for Markkanen, but have since reached a deal with Kelly Oubre that projects to eat up most or all of their remaining space.
The Thunder and Pelicans are among the teams that could realistically generate enough room to make a play for Markkanen. However, there have been no reports indicating either club is considering an offer sheet. A sign-and-trade would also be a possibility to get Markkanen to a new team that doesn’t necessarily have the space to sign him outright, but that would require the Bulls’ cooperation and they’d seek at least an asset or two to let him walk.
A report earlier this week stated that the Spurs had interest in Markkanen in the DeMar DeRozan sign-and-trade, but weren’t comfortable meeting his asking price. The Timberwolves are also believed to have interest, but don’t have a ton of cap flexibility.
One additional option for Markkanen would be to accept his one-year qualifying offer, which would allow him to become an unrestricted free agent in 2022. However, if he’s eager to leave Chicago, that’s likely not his preferred path.
The Bulls’ interest – or lack thereof – in hanging onto Markkanen will likely dictate how this situation plays out. If the team is willing to let him go after reshaping its roster this week, a sign-and-trade seems like a plausible outcome.
About an hour before word broke on Tuesday that DeMar DeRozan had agreed to join the Bulls via sign-and-trade, Chris Haynes of Yahoo Sports reported that DeRozan intended to meet with the Clippers. So did that meeting actually happen before DeRozan reached a deal with Chicago? Haynes shared some details in the latest episode of his Posted Up with Chris Haynes podcast.
“The Clippers’ brass were on their way to DeMar’s house,” Haynes said. “Things got a little bit more interesting with the Bulls, it looked like a deal was going to get done with Chicago, and DeMar DeRozan’s agent Aaron Goodwin called the Clippers out of courtesy and was like, ‘You know what, let’s not waste anybody’s time. Out of respect to you guys, let’s cancel this meeting. (DeRozan)’s going to go elsewhere.'”
Haynes added that the Clippers were going to have to do “a ton of work” on their roster to be able to make DeRozan a competitive offer, suggesting that the veteran wing – who received an $85MM commitment from Chicago – wouldn’t have been willing to settle for the taxpayer mid-level exception ($5.9MM), which was all L.A. realistically had at its disposal.
“DeMar DeRozan was not going to any team and taking the mid-level. He wasn’t,” Haynes said. “Not the full mid-level, not the taxpayer mid-level. He wasn’t having it.”
Here are a few more updates from around the Pacific:
- Speaking to Marcus Thompson II of The Athletic after news of his new $215MM extension with the Warriors broke, Stephen Curry said he loves the players Golden State drafted last Thursday and was happy to hear the team was pursuing veteran free agents this week, even if top targets like Patty Mills and Nicolas Batum are headed elsewhere. “I would be disappointed if there was ever a vibe that you’re complacent or that you’re not proactive and looking to always get better,” Curry said. “So if you’re telling me we’re trying to go after Batum, we’re trying to go after Patty, and things didn’t line up like that, then that’s just how the league works. But if there’s ever a situation where you don’t feel that commitment from upstairs, then we have issues. I haven’t felt that this summer.”
- Thompson adds in the same story that the fourth year on Curry’s extension was a “minor sticking point,” given its unprecedented cap hit, but the Warriors ultimately relented. Curry, who will turn 38 during the 2025/26 season, will earn a staggering $59.6MM that year.
- Now that the Lakers have nearly finished filling out their roster with a handful of free agent commitments, the next big question for the franchise to answer is Frank Vogel‘s status, writes Bill Oram of The Athletic. Vogel is a candidate for an extension, since he’s entering the final year of his contract as the team’s head coach.
The Hornets, one of the NBA’s only teams that still has cap space available, have “strong” interest in a potential offer sheet for Bulls restricted free agent forward Lauri Markkanen, reports Shams Charania of The Athletic (Twitter link).
By my unofficial count, Charlotte currently has about $14MM in projected cap room and could increase that number slightly by waiving one or more of the non-guaranteed contracts on the team’s books (Cody Martin, Caleb Martin, and Jalen McDaniels). That would likely be enough space to make a competitive bid for Markkanen and put pressure on the Bulls, who have the ability to match any offer sheet he signs.
Chicago will be hard-capped as a result of the club’s sign-and-trade deals for Lonzo Ball and DeMar DeRozan. Accommodating a significant salary for Markkanen would potentially push the club into the tax and close to that hard cap. ESPN’s Bobby Marks (Twitter link) said following the DeRozan agreement on Tuesday that the Bulls’ team salary was about $19.5MM below the tax line and $26MM below the hard cap, with six open roster spots.
The seventh overall pick in the 2017 draft, Markkanen showed a ton of promise during his first two NBA seasons, posting a career-high 18.7 PPG and 9.0 RPG on .430/.361/.872 shooting in 52 games (32.3 MPG) in 2018/19. However, his development trajectory has leveled off since then, as he has battled a series of injuries and given the Bulls up-and-down production.
Still, the Finnish forward is only 24 years old and is a legitimate floor-spacing big man, having knocked down 40.2% of his three-point attempts this past season. Charlotte has plenty of talent in its backcourt (LaMelo Ball, Terry Rozier, James Bouknight) and on the wing (Gordon Hayward, Miles Bridges, P.J. Washington) and may view Markkanen as a nice fit up front.
If the Hornets is worried about a potential offer sheet being matched and the Bulls don’t want to risk losing Markkanen for nothing, the two sides could engage in sign-and-trade talks to ensure the seven-footer ends up in Charlotte and Chicago gets a minor asset or two in return for agreeing to let him walk. However, if Markkanen officially signs an offer sheet with the Hornets, a sign-and-trade would no longer be possible.
A restricted free agent can sign an offer sheet during the moratorium period, but the two-day matching clock doesn’t begin until the moratorium ends, so there’s no rush for Charlotte to get Markkanen to sign on the dotted line today.
For what it’s worth, a report earlier this week stated that the Spurs had interest in Markkanen in the DeRozan sign-and-trade, but weren’t comfortable meeting his asking price.
AUGUST 7: The Sixers have officially re-signed Green, the team announced today in a press release.
“Bringing Danny back was a top priority for our organization this offseason,” president of basketball operations Daryl Morey said in a statement. “He has proven to be an important leader on and off the floor, and he knows what it takes to win an NBA title as a three-time champion. We are very happy that he’ll continue to remain a crucial part of the 76ers.”
AUGUST 4: The Sixers have agreed to terms with veteran swingman Danny Green on a two-year deal that will bring him back to Philadelphia, according to his Inside The Green Room podcast co-host Harrison Sanford (Twitter link). A league source confirms the news to veteran NBA reporter Marc Stein (Twitter link).
Because the 76ers have Early Bird rights on Green, they won’t need to use their mid-level exception to complete the signing.
Agent Raymond Brothers tells ESPN’s Adrian Wojnarowski (Twitter link) that the 34-year-old’s new deal won’t include any options. However, a follow-up tweet from Sanford suggests the second year will be non-guaranteed, with a July 1, 2022 guarantee date.
According to Sanford (Twitter link), Green had discussions with the Nets, Celtics, Bucks, Bulls, and Warriors, among other teams, during free agency this week. He turned down a two-year offer from the Cavaliers, Sanford adds.
A 12-year NBA veteran who has won titles with three different teams, Green started all 69 games he played for Philadelphia in 2020/21, averaging 9.5 PPG, 3.8 RPG, and 1.3 SPG with a .412/.405/.775 shooting line in 28.0 MPG.
Green has long been a reliable three-and-D wing, having knocked down 40.1% of his career attempts from beyond the arc.
The Sixers waived George Hill this week and lost Dwight Howard to the Lakers, but have now lined up deals to bring back both Green and Furkan Korkmaz. The club also signed Andre Drummond to a minimum-salary contract on Wednesday and has agreed to a deal with forward Georges Niang.