- Jarred Vanderbilt, the 41st overall pick in this year’s draft, got a three-year, minimum-salary contract from the Nuggets with two fully guaranteed seasons (Twitter link). The third year will be non-guaranteed until July 15, 2020.
JULY 16: The Nuggets have officially signed Thomas, the team announced today in a press release.
JULY 12: The Nuggets will sign free agent guard Isaiah Thomas to a one-year contract, tweets ESPN’s Adrian Wojnarowski. He will accept a veteran’s minimum deal (Twitter link) and will join forces with head coach Michael Malone, who previously coached Thomas in Sacramento.
Thomas will have a $2,029,463 salary for the upcoming season, while Denver will absorb a $1,512,601 cap hit.
Thomas will try to rediscover the form that made him an MVP candidate in Boston after a brutal season that saw him traded to the Cavaliers and Lakers. He sat out the first half of the season while recovering from a lingering hip injury, then played just 15 games for Cleveland before being moved. The veteran guard was a controversial figure with the Cavs, facing frequent complaints over his attitude and poor defense.
Thomas’ performance was a little better with the Lakers, but he appeared in just 17 games before undergoing minor hip surgery in March. He has since declared himself fully healed from that procedure.
An opportunity may be waiting in Denver, which could use another scorer after trading Wilson Chandler to the Sixers last week. The Nuggets also didn’t have a ton of backcourt depth behind starting point guard Jamal Murray, so Thomas could be a key contributor and offensive play-maker for the club.
Photo courtesy of USA Today Sports Images.
The Nets weren’t convinced that point guard Jeremy Lin will be physically ready for training camp, according to Brian Lewis of The New York Post. Lin, who was traded to the Hawks on Thursday, is coming off a ruptured patellar tendon that he suffered in last season’s opener.
The 29-year-old point guard hasn’t been medically cleared for three-on-three contact games and may take a while to get ready for five-on-five. He played just 37 games over two years after signing with Brooklyn in 2016 and carried a $12.5MM salary that the team needed to unload before completing a deal with Denver.
“I love Jeremy Lin because he represents the underdog in all of us — truly first class on and off the court,” tweeted co-owner Joe Tsai after the deal was completed. “Jeremy is not only exciting to watch, he sets an example for perseverance and leadership. We are great friends, and I will follow his progress no matter where he is.”
There’s more today out of Brooklyn:
- The Nets had been trying for months to acquire Kenneth Faried from the Nuggets, Lewis adds in the same story. Brooklyn officials hoped to make a deal before last month’s draft, but Denver was unwilling to give up this year’s first-rounder, which it used to get Michael Porter Jr. Nets GM Sean Marks improved his bargaining position by unloading Timofey Mozgov to the Hornets and Lin to the Hawks, giving him enough cap room to take on Faried and Darrell Arthur while getting a future first-rounder and second-rounder.
- Today’s agreement with Shabazz Napier will use up the last of the Nets’ remaining cap room, tweets ESPN’s Bobby Marks. Brooklyn has 14 players under contract, 13 with guaranteed money, and can now exceed the cap by finalizing deals with Joe Harris under the Early Bird exception and Ed Davis under the room mid-level exception.
- Aleksandar Vezenkov, a second-round pick from 2016, will get a better chance to develop his skills after signing with Olympiacos in Greece this week, according to NetsDaily.com. A stretch four, Vezenkov spent last season with F.C. Barcelona, which allotted more minutes to players who weren’t likely to eventually leave for the NBA. That shouldn’t be a concern with Olympiacos, where Vezenkov will play for former Cavaliers coach David Blatt.
JULY 13, 8:42pm: The trade is official, according to a Nets press release.
JULY 12, 5:18pm: The Nuggets have found a team willing to take on their unwanted contracts, according to ESPN’s Adrian Wojnarowski, who reports that Denver is sending Kenneth Faried, Darrell Arthur, a protected 2019 first-round pick, and a 2020 second-round pick to the Nets in exchange for Isaiah Whitehead.
It’s a salary-dump deal for the Nuggets, who intend to waive Whitehead after acquiring him, Wojnarowski adds. Whitehead’s salary guarantee deadline was recently pushed back, so his $1.54MM salary for 2018/19 remains non-guaranteed — Denver won’t be on the hook for it.
Having reached a deal with Isaiah Thomas earlier in the night, the Nuggets were poised to have 16 players on guaranteed NBA contracts and were well into luxury-tax territory. Their deal with the Nets will solve both issues, reducing their roster count to 14 players after Whitehead’s release and getting their total team salary below the tax threshold.
Bobby Marks of ESPN.com has the full details, noting that the Nuggets should be about $8.7MM below the tax line after the trade, giving the team room to use the rest of its mid-level exception to fill the last spot on its roster, if it so chooses. So far, Denver has committed $2MM of its MLE to Torrey Craig and is believed to have used about another $1MM on Jarred Vanderbilt.
As Marks observes, trading Faried, Darrell Arthur, and Wilson Chandler (to Philadelphia) projects to save the Nuggets approximately $90MM in salary and tax payments. The team gave up a first-round pick and two second-rounders in those two deals.
The Nuggets have also created three sizable traded player exceptions to work with — those TPEs are equivalent to the salaries for Faried ($13.76MM), Chandler ($12.8MM), and Arthur minus Whitehead ($5.92MM)
Meanwhile, from the Nets’ perspective, they’ll rent their cap room in order to add a pair of draft assets. The big prize is the 2019 first-rounder, which is top-12 protected, according to Wojnarowski (via Twitter).
Coming into the day, Brooklyn didn’t have the cap room necessary to absorb both Faried and Arthur, but the club created that space by trading Jeremy Lin to the Hawks in another deal. It’s not clear whether Faried and/or Arthur are in the Nets’ plans for 2018/19 or if they’ll become buyout candidates.
Photo courtesy of USA Today Sports Images.
After a relatively quiet day in terms of NBA transactions on Thursday, a flurry of agreements were reached in the evening. The Nuggets‘ free agent deal with veteran guard Isaiah Thomas kicked off a series of moves that saw Denver agree to send Kenneth Faried and Darrell Arthur to Brooklyn, with the Nets flip Jeremy Lin to the Hawks in order to create the cap room necessary to absorb the Nuggets’ unwanted contracts.
As we detailed on Thursday, the Hawks and Nets were two of the only teams with any cap room still available. The Nuggets, meanwhile, entered Thursday with one of the NBA’s highest projected payrolls, and were looking for a way to get out of luxury-tax territory. The 2018/19 cap outlooks for all three teams were altered significantly by last night’s trade agreements.
With the help of salary data from Basketball Insiders and information from cap experts Bobby Marks and Albert Nahmad, here’s a breakdown of how each team involved in last night’s action will be impacted from a cap – and tax – perspective:
Atlanta Hawks
There are a few factors to consider when determining exactly how much cap room the Hawks still have available. For one, we’re still not sure whether or not Lin is waiving his trade kicker as part of his move to Atlanta. If he doesn’t waive that trade kicker – and he’d have no real reason to – his bonus will increase his cap hit from $12.5MM to $13.75MM, cutting into the Hawks’ cap space.
Atlanta also still has Jaylen Morris and Antonius Cleveland under contract. Both players are on modest non-guaranteed salaries worth $1.38MM apiece.
If we assume that Lin’s trade kicker will increase his cap hit and Morris and Cleveland remain on the Hawks’ roster, the team projects to have about $7.7MM in cap space remaining. However, that number would increase to nearly $10.5MM without Morris and Cleveland.
Brooklyn Nets
Most of the Nets‘ leftover cap room will be eaten up by Faried’s and Arthur’s salaries. After Brooklyn completes its reported deal with second-round pick Rodions Kurucs, the team will have less than $3MM in cap space available.
The Nets still haven’t finalized their contract agreements with Joe Harris and Ed Davis, since it makes sense to use up all their cap room before they use their Early Bird rights to go over the cap for Harris and sign Davis with the room exception.
If Brooklyn determines that it will have no use for its remaining $2-3MM in cap space, the club could complete those signings after officially locking up Kurucs. However, GM Sean Marks figures to explore all options with that leftover cap room before going over the cap by signing Harris and Davis.
Denver Nuggets
There are plenty of moving parts in play for the Nuggets, who still have to finalize Thomas’ signing and waive Isaiah Whitehead, whose non-guaranteed contract will be acquired in the trade with the Nets. We also don’t have final, official figures for new contracts for Nikola Jokic, Will Barton, and Jarred Vanderbilt.
Based on what we know though, it appears the Nuggets will have a team salary of about $115MM after waiving Whitehead and signing Thomas, putting the team approximately $8.7MM below the tax line.
As Nahmad observes (via Twitter), Denver has a few unlikely incentives to consider for Jokic, Paul Millsap, and Gary Harris. The 2018/19 cap hits for those players would increase if they earn their incentives, so the Nuggets will want to leave a little breathing room to account for that. Still, the team has flexibility to use its full mid-level exception.
So far, the Nuggets have used a reported $2.84MM of their mid-level to sign Torrey Craig and Vanderbilt, which would leave about $5.8MM of the $8.64MM exception available. Denver could also technically use its $3.382MM bi-annual exception, though the team would become hard-capped if it uses any of its BAE or uses more than the taxpayer portion ($5.337MM) of the mid-level.
While Nikola Jokic‘s new five-year deal with the Nuggets was reported as a maximum-salary contract, that’s not technically accurate. According to ESPN’s Zach Lowe (via Twitter), the base value of Jokic’s new deal falls just short of the max, since it includes about $1MM per year in bonuses linked to team success.
As Lowe explains, about half of those annual bonuses can be earned if the Nuggets make the playoffs, while the other half can be earned if the club advances to the second round. Because Denver didn’t achieve either of those benchmarks in 2017/18, those bonuses are currently considered “unlikely” incentives and don’t count against the Nuggets’ cap.
In 2018/19, for instance, Jokic’s cap hit will be about $24.6MM rather than the maximum $25.5MM, tweets Eric Pincus of Basketball Insiders. However, if the Nuggets were to win a playoff series in 2019, Jokic would earn his first-year bonus and his second-year bonuses would subsequently be considered “likely,” causing his future cap hit to increase.
- As expected, the Nuggets used a portion of their mid-level exception to sign Torrey Craig to his new two-year deal. Craig will earn a flat $2MM salary in each season, for a $4MM total (Twitter link).
The Nuggets have signed second-round pick Jarred Vanderbilt to a multiyear contract, the team announced today in a press release. Terms of the deal weren’t disclosed by Denver, but ESPN’s Adrian Wojnarowski tweets that it’s a three-year, $4MM contract.
[RELATED: 2018 NBA Draft Pick Signings]
The over-the-cap Nuggets will dip into their mid-level exception to complete the Vanderbilt signing, since the minimum salary exception would only have allowed for up to two years. The team is believed to have used a portion of its MLE on Torrey Craig, but still should have plenty left.
Vanderbilt, whose college career was limited by foot and leg injuries, appeared in just 14 games last season for Kentucky, averaging 5.9 PPG and 7.9 RPG in 17.0 MPG. Although he was unable to make much of an impact during his time with the Wildcats, the combo forward is a good athlete and has upside as a defender and rebounder.
The Nuggets used the No. 41 overall to nab Vanderbilt, trading up a couple spots to ensure that they landed him.
With Craig and Vanderbilt now on NBA contracts, and free agents like Nikola Jokic and Will Barton back in the fold as well, Denver is up to 15 players on guaranteed deals. That doesn’t leave room for two-way player Monte Morris, who had been a candidate for a promotion to the 15-man roster, prompting Gina Mizell of The Denver Post (Twitter link) to wonder if another salary-dump trade may be on the horizon for the Nuggets.
- The Sixers will receive $1.5MM from the Lakers to complete the Isaac Bonga deal, Eric Pincus of Basketball Insiders tweets. The Lakers have a 45-day window from July 6 to get that done, Pincus adds. Philadelphia also received the Bulls’ second-round pick in the deal for the 39th pick of this year’s draft. The Sixers are paying $110K to the Nuggets as part of the Wilson Chandler trade, Pincus adds in another tweet. Denver generated a $12.8MM trade exception from the deal.
After playing on a two-way contract with the Nuggets last season, Torrey Craig will be promoted to the 15-man roster for the 2018/19 campaign. According to Shams Charania of Yahoo Sports (Twitter link), Craig has agreed to a two-year, $4MM contract with Denver. Chris Dempsey of Nuggets.com first tweeted that the deal was done.
Craig, 27, appeared in 39 games for the Nuggets in 2017/18, averaging 4.2 PPG and 3.3 RPG in 16.1 minutes per contest. He also played 15 G League games for the Sioux Falls Skyforce, averaging an impressive 22.9 PPG, 8.1 RPG, 3.5 APG, and 2.0 BPG with a .477/.386/.787 shooting line.
With his two-way deal expiring, Craig was tendered a qualifying offer last month by the Nuggets. That one-year offer was only for another two-way contract, but any other team could have signed the 6’6″ forward to an offer sheet. Denver decided not to take any chances, locking up Craig to a two-year standard contract that should assure him of a roster spot.
Assuming his new deal is indeed worth $4MM, Craig may have been signed using a portion of the Nuggets’ mid-level exception, since that figure exceeds what he could have received using the minimum salary exception or his Non-Bird rights.
With Craig out of the mix for one of Denver’s two-way slots, Monte Morris and Thomas Welsh appear likely to open the 2018/19 season as the Nuggets’ two-way players.
JULY 9: The Nuggets have officially signed Jokic to his new mega-deal, the team announced today in a press release.
“It’s not every day that you find a player with the incredible skillset to lead an NBA franchise that Nikola has, but also the character and personality to match that,” Nuggets vice chairman Josh Kroenke said in a statement. “Seeing Nikola grow on and off the basketball court is something in which our organization has taken immense pride, and we were determined to do whatever it took to keep Nikola in a Nuggets uniform for a very long time.”
JUNE 30: Jokic has agreed to a five-year, maximum-salary deal with the Nuggets, according to reports from ESPN’s Adrian Wojnarowski and Shams Charania of Yahoo Sports (Twitter links). A full max contract for Jokic projects to be worth $147,710,050.
Denver also reached an agreement to re-sign Barton.
JUNE 25: The Nuggets will decline Nikola Jokic‘s team option for 2018/19 in order to make him a restricted free agent, as we detailed on Sunday. Once Jokic officially reaches free agency, he and the team intend to finalize a five-year, maximum-salary contract, reports Shams Charania of Yahoo Sports.
Denver’s plans for Jokic come as no surprise, given the comments made by president of basketball operations Tim Connelly following last Thursday’s draft. At the time, he suggested the Nuggets would do all they could to make sure they locked up their star center for as many years as possible.
“Nikola’s going to be here for a long, long time,” Connelly said. “I think whatever we do, we’re going to ensure he’s here as long as possible. When that moment happens, we’re going to talk to Nikola and his brothers and his representation. He’ll be in Denver for a long, long time. He’ll be buying (a home) here.”
Had they simply exercised their 2018/19 option on Jokic, the Nuggets could have kept him under team control for a mere $1,600,520 next season. However, taking that route would have risked alienating Jokic and his representatives, and would have put him on track to unrestricted free agency in 2019, at which point he would have been free to join any other team. By declining that option, Denver ensures that it will have the right of first refusal, though the team will simply negotiate directly with Jokic’s camp rather than waiting for an offer sheet.
Jokic, 23, enjoyed the best season of his three-year career in 2017/18, setting new career highs in PPG (18.5), RPG (10.7), APG (6.1), and 3PT% (.396), among other categories. While the former second-round pick isn’t an elite defender, he’s one of the NBA’s best frontcourt play-makers, and will be paired up front with a strong defensive presence in Paul Millsap.
As for the exact value of Jokic’s contract, a five-year deal can be worth up to $146.45MM based on a $101MM cap projection. Such an agreement would start at $25.25MM, eventually increasing to $33.33MM by 2022/23. We outlined the exact year-by-year breakdown when we took an early look at maximum salary projections earlier this year.
Adding $25.25MM to the Nuggets’ salary commitments for 2018/19 will increase the team’s total guaranteed money to $131MM+ for 12 players. That figure doesn’t account for Will Barton, who will be an unrestricted free agent. If Denver wants to re-sign Barton, the club will likely make a strong push to shed another salary, with Kenneth Faried‘s and Darrell Arthur‘s expiring contracts serving as the most obvious trade pieces.
Photo courtesy of USA Today Sports Images.