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Nine NBA Teams Have Two-Way Contract Openings

September 1st, 2024 at 9:11am CST by Rory Maher

Two-way contracts allow NBA teams to carry three extra players in addition to the 15 on their regular season roster. These players generally bounce back and forth between the NBA and G League, but remain under team control and can’t be poached by rival franchises.

With training camps set to begin in about a month, there are still nine NBA teams with open two-way spots. Two clubs — the Nets and Magic — each have a pair of two-way openings, while the remaining seven teams have one opening apiece. That means there are currently 11 two-way openings in the NBA.

Here’s the full list of NBA teams with two-way vacancies, as shown by our 2024/25 two-way contract tracker:

Brooklyn Nets
Chicago Bulls
Charlotte Hornets
Dallas Mavericks
Detroit Pistons
Los Angeles Clippers
Orlando Magic
Portland Trail Blazers
Washington Wizards

Technically, the Cavaliers have yet to finalize their reported two-way deal with JT Thor, but we expect that to occur at some point before training camp — that’s why they are not included on this list.

Since two-way deals are non-guaranteed and don’t count against the salary cap, it’s pretty common to see players shuffled in and out of rosters both before and during the season. It’s worth noting that Exhibit 10 deals can be converted to two-way contracts under certain conditions — these teams may be waiting until training camp and preseason to get a better look at young players.

First introduced in 2017, two-way deals have undergone some rule changes in recent years, and the NBA’s new Collective Bargaining Agreement has updated them further. Here are some key points to remember:

Teams can now carry three players on two-way contracts, rather than two.
Two-way players are eligible to be active for up to 50 of their team’s 82 regular season games. If a team isn’t carrying a full 15-man standard roster, its two-way players can only be active for a combined 90 games.
Players on two-way contracts will earn $578,577 in 2024/25, half of the rookie minimum.
Two-way contracts can’t be signed after March 4.

You can check out our glossary entry to learn more about two-way contracts.

And-Ones: Marjanovic, Vucevic, Rebuilding Teams, Cauley-Stein

August 31st, 2024 at 11:53am CST by Dana Gauruder

Boban Marjanovic turned 36 this month. The affable big man told Marc Stein in his latest Substack post that he’d like to still be playing at 40 years old, as LeBron James is doing.

“I want to stay in [the] NBA; this is the main goal,” he said. “I want my kids to be there and I want myself to be there.”

Marjanovic remains on the free agent market and continues to search for a new opportunity. He was on the Rockets’ roster last season.

We have more from around the international basketball world:

Bulls center Nikola Vucevic hasn’t ruled out the idea of finishing his career in Europe, but doesn’t plan to play overseas anytime soon, BasketNews.com relays. “I would love to play in the NBA for as long as possible. It’s the best league, with the best players and conditions,” Vucevic told Iva Jevtic of B92. “At this moment, I’m not thinking about a return to Europe. If it ever happens, Crvena Zvezda would be the main favorite, but many things would have to fall into place.” Crvena Zvezda is based in Belgrade, Serbia.
A number of NBA teams are in rebuilding mode and Grant Hughes of Bleacher Report ranks how each of them are faring. He sees the Spurs being ahead of the pack and not just because they have generational talent Victor Wembanyama. The Pistons come in at the No. 2 spot due to the amount of young talent on their roster, headed by Cade Cunningham.
In a comprehensive feature story, Kyle Tucker of The Athletic details the difficulties that Willie Cauley-Stein has endured in recent years. Cauley-Stein, who hasn’t appeared in an NBA game since the 2021/22, remains hopeful of getting another NBA contract.

Community Shootaround: Bulls’ 2024 Offseason

August 28th, 2024 at 10:43pm CST by Alex Kirschenbaum

This summer, the Bulls finally, officially stopped pretending they were close to competing for anything but a play-in tournament berth.

Three years after offloading major draft capital in the hopes of becoming Eastern Conference contenders, Chicago waived the white flag. The Bulls’ front office moved probably two of its three best trade chips in two-time All-Defensive Team guard Alex Caruso and six-time All-Star small forward DeMar DeRozan. The third, 24-year-old emerging point guard Coby White, remains on the roster after a breakout individual season in 2023/24.

DeRozan agreed to a three-year, $73.7MM deal with the Kings as part of a three-team sign-and-trade with the Bulls and Spurs. San Antonio netted an unprotected first-round pick swap, as well as the contract of 3-and-D combo forward Harrison Barnes. Chicago, despite moving by far the best player in the deal, only nabbed two second rounders and reserve shooting guard Chris Duarte.

Caruso was shipped out to the Thunder in exchange for point guard Josh Giddey, who by the end of this spring’s playoffs was a barely-used eighth man, averaging just 12.6 minutes per game in Oklahoma City’s second-round series to the Finals-bound Mavericks. Giddey’s missing-in-action jumper and poor defense made him a liability in his postseason debut. Luckily for the 6’8″ Aussie, he’s not in danger of making the playoffs again any time soon.

Oklahoma City gave up a pair of second-round picks to obtain Gordon Hayward in a trade deadline trade. Caruso, on an expiring $9.9MM sweetheart deal, is one of the league’s elite defenders, and surely could have netted some level of first-round equity. The Bulls reportedly received offers along those lines but preferred to acquire an established young veteran in Giddey.

Two more veteran former All-Stars remain very available on the trade market. But the Bulls can’t seem to give away either shooting guard Zach LaVine or center Nikola Vucevic, both of whom are on far-too-generous multiyear contracts.

Armed with a core of DeRozan, LaVine, Vucevic, Lonzo Ball, Caruso and White, the Bulls went a combined 125-121 across three seasons. Chicago did make the playoffs once, during this group’s first year together in 2021/22, but was quickly eliminated in the first round and hasn’t survived the play-in tournament since.

The team has been stubbornly resistant to making significant moves to improve its defense or long-range shooting since Ball went down with a left knee meniscus tear in January 2022. He’s currently rehabbing after his third surgery, and hoping to make a comeback in the final year of his contract.

The Bulls selected intriguing young G League Ignite forward Matas Buzelis with the No. 11 pick in this year’s poorly regarded draft. The 6’10” pro was an underwhelming floor-spacer in the G League, making just 27.3% of his 3.4 three-point tries, but flashed encouraging finishing ability and athleticism during his Summer League games with Chicago.

Chicago’s only major free agent addition thus far is ex-Pacers reserve big man Jalen Smith, who signed a three-season, $27MM deal. At 24, the 6’10” Maryland alum could conceivably grow along with the rebuilding Bulls.

The Bulls also re-signed restricted free agent forward Patrick Williams to a generous five-year, $90MM new deal. The 23-year-old incurred a left foot injury in January that required season-ending surgery. Due to minimal frontcourt size elsewhere, the 6’7″ wing has often been miscast by Chicago head coach Billy Donovan as a power forward, but his skinny frame has impeded his ability to get much offense cooking against opposing defenders.

Across 43 games last season, Williams averaged 10.0 points, 3.9 rebounds, and 1.5 assists with a shooting line of .443/.399/.788. Those numbers are more or less the same as his rookie season output (9.2 PPG, 4.6 RPG, 1.4 APG, .483/.391/.728 shooting). Though he has improved defensively during his four pro seasons, the Florida State alum has been a developmental dud on the other end, hampered by a slow release on his jump shots.

We want to hear from you. Did the Bulls get enough back in their deals for DeRozan and Caruso? How should they handle the contracts of Vucevic and LaVine? Will Ball even vaguely resemble his pre-injury self? Was Buzelis the right draft pick, or will he eventually go down in Bulls history as a lottery misfire? How much more leeway should owner Jerry Reinsdorf give team president Arturas Karnisovas, who has underwhelmed during his tenure with the team thus far?

Let us know how you feel in the comments section below.

Ball Looking Good In Scrimmages

August 25th, 2024 at 7:16pm CST by Dana Gauruder

Lonzo Ball continues to defy the odds in his latest attempt to come back from knee surgery, according to Joe Cowley of the Chicago Sun-Times. Ball was recently cleared to start full-contact scrimmages and has started that process on schedule with no setbacks, Cowley reports. The veteran point guard has been participating in scrimmages in Los Angeles. The next step for Ball will be to run with his Bulls teammates at the team’s practice facility, which will allow Chicago’s medical staff to evaluate him and devise a plan for him heading into the preseason.

Nikola Vucevic Talks Lonzo Ball, Changes In Chicago, Retirement

August 25th, 2024 at 1:53pm CST by Alex Kirschenbaum

Speaking at All-NBA point guard Goran Dragic‘s farewell game in Slovenia, Bulls center Nikola Vucevic reflected on the team’s disappointing results over the past three seasons. The 6’10” big man noted that everything changed after point guard Lonzo Ball suffered a left meniscus tear midway through the 2021/22 season, per Milun Nesovic of Meridian Sport (hat tip to BasketNews for the transcription).

Chicago went 22-13 during the 35 games Ball was healthy, and hovered around the top of the Eastern Conference. The club then fell to the No. 6 seed and was eliminated by the Bucks in a brisk 2022 first-round playoff series. Ball has undergone three knee surgeries, but has yet to return to the hardwood.

“Since Lonzo Ball’s injury, we haven’t been able to achieve the results we could have,” Vucevic said. “When he played, we were at the top of the East for a while, which maybe wasn’t a realistic result, even though we were playing well, but with him, we would have fought for anything between third and sixth place in the end.”

Chicago hasn’t had Ball available since January 2022. It’s probably not realistic to expect him to contribute at the same level he did, if he ever can come back.

The conversation is well worth reading in full. Here are some more highlights:

Vucevic also blamed constant trade chatter for distracting the team during its subsequent two seasons, when Chicago made very few transactions and ultimately missed the playoffs. “Trade talks also affected us, preventing us from achieving the results we thought we could, but when results don’t follow, changes come,” Vucevic said.
The team parted ways with two of its top players, six-time All-Star swingman DeMar DeRozan and All-Defensive guard Alex Caruso, this summer. DeRozan inked a lucrative three-year deal with the Kings via sign-and-trade, while Caruso was dealt to the Thunder for Josh Giddey. Vucevic is aware that the club is trying to pivot. “DeRozan left, Caruso left, the team got younger, and they wanted to go in a different direction,” Vucevic said. “We’ll see how the season goes, and then decisions will be made based on that.”
The 33-year-old center, who is owed $41.5MM over the next two seasons, also addressed his own future in the league. “I’m aware that I’ve been in the NBA for 13 years now, that the end is not that far off,” Vucevic acknowledged. “I don’t believe I’ll play another 13 years, but I have two more years with Chicago, and I’d like to play two more after that… I think I can play at a high level for that long, and then I’ll see.” A two-time All-Star while with the Magic, Vucevic has seen his shooting efficiency fall off somewhat in recent seasons. After connecting on 40% of 6.3 three-pointers per game in 2020/21, he has averaged 32% on 4.3 long range attempts across the ensuing three seasons. Though he averaged a respectable 18.0 points, 10.5 rebounds, and 3.3 assists in 76 games last season, Vucevic’s lack of athleticism has made him a major defensive liability, unable to switch in pick-and-roll situations and incapable of effectively protecting the rim. Offensively, the ball often sticks in his hands and disrupts the club’s scoring.

Eastern Notes: Council, Celtics, Lillard, ’24/25 Standings

August 21st, 2024 at 1:23pm CST by Luke Adams

As he prepares for his second NBA season, Sixers swingman Ricky Council has been participating this summer in the private runs held in Los Angeles by Sixers assistant Rico Hines, writes Keith Pompey of The Philadelphia Inquirer. Council is working on fine-tuning his game in the hope of earning rotation minutes in Philadelphia in 2024/25.

“This summer has been a whole lot of work, maybe even more than last year,” Council said. “Keeping my shooting touch up, working on different finishing moves, just learning the game, playing against good competition every day. All that’s going to help me in the long run.”

Having spent most of his rookie season in 2023/24 on a two-way contract, Council didn’t see a ton of action at the NBA level, but he impressed in his limited minutes, averaging 5.4 points in 32 outings (9.0 MPG), with a shooting line of .482/.375/.746. He knows that in order to get more playing time in ’24/25, he’ll have to show he can excel in a complementary role.

“We have Paul George. We have Tyrese Maxey and we have Joel Embiid,” Council said. “I don’t expect they’ll need much off the dribble in that nature. So I just need to be able to hit open shots and guard people.”

Here’s more from around the Eastern Conference:

There’s “zero truth” to rumors that billionaire Amazon founder Jeff Bezos is interested in bidding on the Celtics, a source close to Bezos tells Nick Wingfield of The Information. As Kurt Helin of NBC Sports notes, there has been speculation in league circles that Bezos may have interest in being involved in an expansion franchise in Seattle, but it doesn’t sound like he’s looking to gain control of the defending champions, whose majority ownership group put its stake up for sale earlier this summer.
Appearing on the Club 520 Podcast (YouTube link), Bucks guard Damian Lillard admitted that his first year in Milwaukee last season was a “harder transition” than he expected. In addition to going through a tumultuous period in his personal life at the time, he also found it challenging to adjust to playing alongside Giannis Antetokounmpo and Khris Middleton after being traded from Portland to Milwaukee just days before training camp. “I’m having to get used to playing with two (great) players and I don’t want to stop them from doing what they do,” Lillard said (hat tip to HoopsHype). “But I got to find how to be the best version of me within this too, so it was just a lot of moving parts. It was more difficult than I thought it would would be.”
The Celtics sit atop ESPN’s predictions for the 2024/25 Eastern Conference standings, followed by the Knicks, Sixers, Cavaliers, and Bucks, in that order. The Magic round out ESPN’s projected group of top-six playoff teams, followed by the Pacers, Heat, Hawks, and Bulls in the play-in group. For what it’s worth, ESPN’s panel sees a big disparity between the the top two and bottom two play-in teams, projecting 46 wins for Indiana and 45 for Miami, compared to 31 for Atlanta and 30 for Chicago.

NBA 2024 Offseason Check-In: Chicago Bulls

August 19th, 2024 at 4:00pm CST by Luke Adams

Hoops Rumors is checking in on the 2024 offseason for all 30 NBA teams, recapping the summer’s free agent signings, trades, draft picks, departures, and more. We’ll take a look at each team’s offseason moves and consider what might still be coming before the regular season begins. Today, we’re focusing on the Chicago Bulls.

Free agent signings

Patrick Williams: Five years, $90,000,000. Fifth-year player option. Re-signed using Bird rights.
Jalen Smith: Three years, $27,000,000. Signed using non-taxpayer mid-level exception.
Marcus Domask: One year, minimum salary. Non-guaranteed (Exhibit 10). Signed using minimum salary exception.
Kenneth Lofton Jr.: One year, minimum salary. Non-guaranteed (Exhibit 10). Signed using minimum salary exception.

Trades

Acquired Josh Giddey from the Thunder in exchange for Alex Caruso.
Acquired Chris Duarte, RaiQuan Gray (two-way), the Kings’ 2025 second-round pick, the Kings’ 2028 second-round pick, and cash in a three-team trade in exchange for DeMar DeRozan (signed-and-traded to Kings).
- Note: Gray was subsequently waived.

Draft picks

1-11: Matas Buzelis
- Signed to rookie scale contract (four years, $23,950,723).

Two-way signings

Adama Sanogo
DJ Steward

Departed/unsigned free agents

DeMar DeRozan (Kings)
Henri Drell (Trail Blazers)
Andre Drummond (Sixers)
Javonte Green (unsigned)

Other moves

Waived Andrew Funk (two-way).

Salary cap situation

Operating over the cap ($140.6MM) and below the luxury tax line ($170.8MM).
Carrying approximately $166.1MM in salary.
Hard-capped at $178,132,000.
$4,250,571 of mid-level exception available.
Full bi-annual exception available.
Two traded player exceptions available (largest worth $17,506,232).

The offseason so far

There was some good news for fans in Chicago this summer, as the Bulls’ front office finally accepted that roster changes were needed and that the group in place since 2021 wasn’t about to finally break through and become a contender.

The bad news? That decision probably came too late for the Bulls to get the most out of their veteran trade chips.

Chicago acquired a pair of future second-round picks along with Chris Duarte – a former first-round pick still on his rookie contract – in a sign-and-trade deal sending DeMar DeRozan to Sacramento. That’s a better outcome for the Bulls than letting their top scorer walk for nothing, but it’s a pretty modest return compared to what they might’ve gotten for DeRozan if they’d put him on the trade block before he reached unrestricted free agency.

The other two members of the Bulls’ one-time “big three” – Zach LaVine and Nikola Vucevic – didn’t go anywhere this offseason and may both still be on the roster on opening night. Their contracts (three years, $138MM for LaVine; two years, $41.5MM for Vucevic) are viewed as somewhat onerous relative to their on-court contributions.

While they could be traded, Chicago shouldn’t expect to receive much of value in return for either LaVine, who is coming off season-ending foot surgery, or Vucevic, who will turn 34 years old this October. In fact, moving off LaVine’s maximum-salary deal would probably require attaching assets at this point, so it might make more sense for the team to retain him in the hopes that he’ll increase his value by playing well this fall.

The most interesting move of the Bulls’ summer was trading defensive ace Alex Caruso for former lottery pick Josh Giddey, who had a tumultuous season both on and off the court in 2023/24. Based on reports that Chicago was seeking multiple first-rounders for Caruso, it came as a surprise that the club didn’t acquire a single pick in the deal, especially from a Thunder team loaded with future draft assets.

I understand the Bulls’ thinking to some extent. While his unreliable outside shot made him something of a liability in the postseason, Giddey is a talented ball-handler and play-maker who is still just 21 years old and is on his way to becoming a better pro than most mid-first-rounders in a typical draft class. A player with Giddey’s three-season track record certainly has a higher floor than an untested 19-year-old prospect.

On the other hand, Giddey is entering his fourth season and is currently eligible for a rookie scale extension. Even if he’s not extended by October 21, he’ll be due a major raise next summer when he reaches restricted free agency, whereas a draftee would’ve been on a team-friendly rookie contract for four seasons.

With Giddey expected to take over point guard duties, Patrick Williams back under contract on a five-year, $90MM deal, Jalen Smith added to the frontcourt on a three-year, $27MM contract, and lottery pick Matas Buzelis on track to play a role as a rookie, the Bulls are well on their way to leaning into a youth movement. However, the ongoing presence of LaVine and Vucevic complicates matters, leaving the team somewhat caught in the middle between play-in/playoff contention and a full-fledged rebuild.

Up next

Assuming there are no trades involving LaVine, Vucevic, or any other Bulls before opening night, 14 standard roster spots look spoken for, while the 15th is up for grabs.

Onuralp Bitim and Kenneth Lofton are among the players on non-guaranteed deals who appear to be in the mix for that last roster spot, and it’s possible the club will bring in one or two more players to compete for it in camp. Carrying a player with a non-guaranteed salary as the 15th man would give Chicago the flexibility to make an in-season change if need be.

The Bulls also have an open two-way slot, with Adama Sanogo and DJ Steward occupying two of those three openings for now. It’s possible that spot could be up for grabs in a camp competition too — Lofton and Marcus Domask are both on Exhibit 10 contracts that could be converted into two-way deals before the season begins.

Newcomers Giddey and Duarte are eligible for rookie scale extensions and I’d expect the Bulls to seriously consider signing Giddey. His stock could be much higher in a year than it is right now, assuming he thrives in Chicago with the ball in his hands more often, so locking him up sooner rather than later could pay off in the long run. A preseason agreement with Duarte, who has seen his playing time and production decline in each of his three NBA seasons, is hard to envision.

The only other Bull who is eligible for an extension is Lonzo Ball, but it’s safe to say that’s not happening either. Just getting on the court this fall would be a huge win for Ball, who has been sidelined for over two-and-a-half years due to knee issues. Barring an unlikely bounce-back season for the former No. 2 overall pick, he’s a strong candidate to have his expiring contract traded by February’s trade deadline — or to be waived before the end of the season, if he continues to miss time for health reasons.

Hawks, Nets, Bulls Control Largest Trade Exceptions

August 17th, 2024 at 1:21pm CST by Luke Adams

As our list of traded player exceptions shows, six NBA teams currently control TPEs worth more than $10MM apiece. Those exceptions are as follows:

Atlanta Hawks: $25,266,266 (expires 7/7/25)
Brooklyn Nets: $23,300,000 (expires 7/7/25)
Chicago Bulls: $17,506,232 (expires 7/8/25)
Dallas Mavericks: $16,193,183 (expires 7/7/25)
Memphis Grizzlies: $12,600,000 (expires 2/3/25)
Washington Wizards: $12,402,000 (expires 2/10/25)

A trade exception allows a team to acquire a player’s contract without sending out matching salary in return. So in theory, the exceptions listed above could put these clubs in position to take on a sizable salary in a preseason or mid-season trade, perhaps acquiring a draft asset or two in the deal for their troubles.

In practice though, it will be difficult for any of these teams to make full use of their large TPEs in that sort of move. The Hawks, Nets, Bulls, Mavericks, and Wizards are all hard-capped at the first tax apron, while the Grizzlies would be if they were to use any portion of their exception.

Atlanta, Brooklyn, and Memphis also don’t have much breathing room below the luxury tax line, while Dallas is already in the tax, so they won’t be eager to take on much extra salary anyway.

Chicago could get about $6.6MM below the tax line by waiving Onuralp Bitim‘s non-guaranteed salary, while Washington could get about $11.9MM below that threshold by waiving their non-guaranteed players, so accommodating modest salary dumps could be in play for those clubs — especially the Wizards, whose big TPE will expire at the trade deadline. But generally speaking, these trade exceptions might not prove all that useful until the 2025 offseason.

Our TPE list uses italics to show which exceptions are currently ineligible to be used. As a reminder, teams operating above either tax apron can’t use trade exceptions generated during the previous regular season (2023/24) or the previous offseason (2023), while teams operating above the second tax apron can’t use new TPEs created from sign-and-trades.

That means, for example, that the Timberwolves are ineligible to use the $4MM exception they generated in February when they traded Troy Brown to the Pistons. They’re also ineligible to use the $8.8MM TPE they generated by signing-and-trading Kyle Anderson to Golden State last month. However, they could use the $2.5MM TPE created in July’s Wendell Moore deal, since it’s new since the season ended and wasn’t the result of a sign-and-trade.

Bulls Sign Kenneth Lofton Jr. To Exhibit 10 Contract

August 17th, 2024 at 11:50am CST by Luke Adams

AUGUST 17: Lofton’s deal with the Bulls is official, according to RealGM’s transaction log. It’s an Exhibit 10 contract, Hoops Rumors has confirmed.

AUGUST 16: Free agent forward Kenneth Lofton Jr. has agreed to a one-year contract with the Bulls, sources tell Shams Charania of The Athletic (Twitter link).

While Charania doesn’t provide any other details on the deal, he says Lofton will have the opportunity in training camp to compete for a spot on Chicago’s regular season roster. That suggests it’ll be a non-guaranteed minimum-salary contract.

Lofton, who turned 22 on Wednesday, began his professional career with the Grizzlies in 2022 after going undrafted out of Louisiana Tech. The bulky 6’6″ forward spent most of his rookie year on a two-way contract with Memphis, appearing in 24 NBA games.

After being converted to a standard contract in April 2023, Lofton began the 2023/24 season on the Grizzlies’ 15-man roster, but was waived in December when Ja Morant was activated from the suspended list. He spent a couple months on a two-way deal with Philadelphia, then was waived again in March and signed a rest-of-season contract with the Jazz, who cut him last month before his ’24/25 salary became partially guaranteed.

Although Lofton didn’t play much at the NBA level in ’23/24, he finished the year strong in Utah, averaging 13.8 points, 5.0 rebounds, and 4.8 assists in 22.8 minutes per game across four April outings for the Jazz. He also had a big year in the G League, earning All-NBAGL First Team honors after putting up 25.1 PPG, 9.5 RPG, 4.4 APG, and 1.6 BPG in 19 regular season games (30.1 MPG) for the Delaware Blue Coats and the Salt Lake City Stars.

The Bulls currently have 14 players on guaranteed standard contracts, with Onuralp Bitim on a non-guaranteed deal, so if Lofton impresses in camp, he could become the team’s 15th man. Chicago also has a two-way spot available, though Lofton would only be eligible to have his contract converted to a two-way deal if it includes Exhibit 10 language.

Need Breakout Seasons To Exceed 30 Wins

August 16th, 2024 at 10:38pm CST by Dana Gauruder

According to VegasInsider.com, the opening odds for the Bulls’ projected win total sit at 30.5. In order to exceed that figure, the Bulls will need a few breakout seasons, The Athletic’s Darnell Mayberry writes.

Coby White, Josh Giddey, Patrick Williams and Jalen Smith are some of the players in line for a statistical jump, given the state of current roster. The Bulls could get even younger as the season unfolds. They have been looking to deal Zach LaVine and Nikola Vucevic without success but that could change prior to next season’s trade deadline.

In case you missed it, the Bulls are signing Kenneth Lofton Jr. to a one-year contract. Get the details here.