Grizzlies Rumors

Contract Details: Monk, Bucks, Edwards, Dort, Jones

Malik Monk‘s two-year deal with the Kings is worth approximately $19.42MM in total, with a first-year salary of $9.47MM, Hoops Rumors has learned. While Sacramento used most of the mid-level exception to bring Monk aboard, the team still has $1,017,781 left on the MLE, which is the exact value of the rookie minimum salary.

The Kings didn’t have a second-round pick in this year’s draft, so that leftover mid-level money won’t go to a 2022 draftee. But the club may have it earmarked for a player like Sasha Vezenkov, a 2017 second-rounder whose draft rights were acquired from Cleveland last month. Using that leftover mid-level money, Sacramento could offer Vezenkov – or another player – a minimum-salary deal that exceeds two years.

Here are a few more details on recently-signed contracts from around the NBA:

  • As expected, Joe Ingles got the full taxpayer mid-level exception ($6.48MM) from the Bucks, while Bobby Portis‘s four-year deal is worth the most he could receive using his Early Bird rights ($48.58MM), Hoops Rumors has learned. Portis’ contract includes a 15% trade kicker and a fourth-year player option.
  • Wesley Matthews‘ new deal with the Bucks is a one-year, minimum-salary contract, while the team used Jevon Carter‘s Non-Bird rights to give him a first-year salary ($2.1MM) worth a little more than his minimum ($1.97MM). Carter’s second-year player option is for the veteran’s minimum.
  • Kessler Edwards‘ two-year deal with the Nets, which features a second-year team option, is – as expected – worth the minimum.
  • Luguentz Dort‘s five-year contract with the Thunder includes a team option in year five and has a total base value of $82.5MM. It can be worth up to $87.5MM if Dort earns $5MM in total unlikely bonuses ($1MM annually), tweets ESPN’s Bobby Marks.
  • Tyus Jones‘ two-year deal with the Grizzlies begins at $15MM and declines to $14MM in 2023/24, per Marks (Twitter link). The deal includes an additional $1MM in unlikely incentives related to the team’s performance, Marks adds.

Grizzlies, Ja Morant Finalize Five-Year Max Extension

JULY 6: Morant’s extension is now official, the Grizzlies announced today in a press release.


JUNE 30: The Grizzlies and star guard Ja Morant are in agreement on a five-year rookie scale extension worth the maximum salary, agent Jim Tanner tells ESPN’s Adrian Wojnarowski (Twitter link). The deal will go into effect when Morant’s rookie contract expires in 2023.

Morant’s extension will include Rose Rule language allowing him to earn a starting salary worth 30% of the 2023/24 cap instead of 25% if he makes an All-NBA team again next season.

Based on the NBA’s latest cap projection of $133MM for the ’23/24 season, Morant’s deal would be worth $231.42MM if he meets the Rose Rule criteria next season, or $192.85MM if he doesn’t.

It’s the biggest contract in Grizzlies history, according to Chris Herrington of The Daily Memphian (Twitter link), topping the $153MM deal Mike Conley signed in 2016.

Morant, who will turn 23 in August, has improved in each of his three NBA seasons, earning his first All-Star and All-NBA nods in 2021/22 and winning the league’s Most Improved Player award.

The former second overall pick averaged a career-high 27.4 PPG to go along with 6.7 APG, 5.7 RPG, and 1.2 SPG in 57 games (33.1 MPG). He also put up career-best shooting numbers of 49.3% from the floor and 34.4% on threes.

Morant is the first member of the 2019 draft class to reach an agreement on a rookie scale extension, and his new deal is one of several maximum-salary contract extensions agreed upon as the new NBA league year begins. Nikola Jokic, Karl-Anthony Towns, and Devin Booker have reportedly agreed to super-max veteran extensions tonight as well.

The Rose Rule criteria require a player to earn an All-NBA spot in the season before his rookie scale extension goes into effect to qualify for the 30% max, which is why Morant will have to make it again next year despite claiming a spot on the Second Team this spring.

Southwest Notes: Spurs, M. Wright, Rockets, Grizzlies

Veteran center Jakob Poeltl has been the subject of trade speculation dating back to February’s deadline, and while Jeff McDonald of The San Antonio Express-News (Twitter link) doesn’t believe the Spurssigning of Gorgui Dieng and waiver claim of Isaiah Roby signal the end of Poeltl’s time in San Antonio, he suggests the team should be gauging the trade market for the big man.

In the wake of the trade sending Dejounte Murray to Atlanta, McDonald (Twitter link) views anyone on the Spurs’ roster over the age of 24 as “imminently available.” That would include sharpshooter Doug McDermott in addition to Poeltl, though it sounds like that’s just speculation for the time being.

Here’s more from around the Southwest:

  • Despite earning a spot on the All-G League First Team as a rookie this past season, forward Moses Wright wasn’t tendered a two-way qualifying offer by the Mavericks and is now an unrestricted free agent. As Eddie Sefko of Mavs.com writes, Wright is playing for Dallas’ Summer League team in Las Vegas and is determined to show he deserves a training camp invite, whether from the Mavs or another team. “I want to be the most dominant big (man) out there,” Wright said. “Whether it’s talking, rebounding, defensive presence, no matter what I do, just be dominant at what I do.”
  • Kelly Iko of The Athletic wonders if there’s a way for the Rockets to get involved in a multi-team trade scenario involving Kevin Durant in order to land restricted free agent center Deandre Ayton. Iko acknowledges that Ayton’s positional overlap with Alperen Sengun isn’t ideal, but believes it would still make sense for Houston if the price was right.
  • The Grizzlies, whose only move in free agency has been a new two-year agreement with Tyus Jones, believe time is on their side and are operating with patience this summer rather than making any significant roster changes, according to Chris Herrington of The Daily Memphian (subscription required).

Grizzlies Sign Kennedy Chandler To Four-Year Deal

JULY 6: The Grizzlies have officially signed Chandler, according to the transactions log at NBA.com.


JULY 5: The Grizzlies are signing second-round pick Kennedy Chandler to a four-year, $7.1MM contract, his agent Ryan Davis tells Shams Charania of The Athletic and Stadium (Twitter link).

According to Charania, Chandler’s rookie contract contains $4.94MM in guaranteed money, which is the most an American second-rounder has ever received.

A four-year, minimum-salary contract would have been worth $6.94MM, so Chandler will likely receive a little more than the minimum in his rookie season.

The Grizzlies acquired Chandler in a draft-day trade from the Spurs in exchange for the Lakers’ 2024 second-round pick and cash. He was the 38th selection of the 2022 NBA draft.

Chandler was ranked 20th on ESPN’s big board prior to the draft, so he slid a bit to fall into the second round. The Memphis native averaged 13.9 PPG, 3.2 RPG, 4.7 APG and 2.2 SPG on .464/.383/.606 shooting in 34 games (30.8 MPG) as a freshman for Tennessee this past season.

Although he stands just 6’0″, Chandler is an excellent athlete and has a reputation as a strong defender. The 19-year-old recorded the highest max vertical leap (41.5″) and the second-fastest shuttle run (2.89) among all participants who were tested at the NBA draft combine in May.

Chandler is a true point guard, capable of distributing and getting to his spots at a high level. He’s currently starting for Memphis’ Summer League squad against Philadelphia in Salt Lake City, recording six points, three rebounds, three assists, two steals and two blocks through nearly three quarters of action, per ESPN.

As Chris Herrington of The Daily Memphian observes (Twitter links), Chandler’s deal is pretty similar to the contract Xavier Tillman received from the Grizzlies as the 35th pick in 2020 ($6.5MM over four years, with $4.6MM guaranteed). The Grizzlies had to use part of their mid-level exception to give Chandler a four-year deal, Herrington notes.

Contract Notes: Konchar, Roby, Landale

John Konchar‘s contract with the Grizzlies called for his $2.3MM salary for 2022/23 to become guaranteed if he remained on the roster through Sunday, and there has been no reporting indicating that he and the team agreed to move that date back. As such, we’re assuming Konchar’s salary for ’22/23 is now locked in.

If that’s the case, it doesn’t come as a surprise. Konchar was a solid role player for the Grizzlies in 2021/22, averaging 4.8 PPG, 4.6 RPG, and 1.5 APG with a .413 3PT in 72 games (17.9 MPG). His salary is relatively modest and he had already been owed a partial guarantee of $840K.

Konchar is one of many players on non-guaranteed contracts for 2022/23 whose salaries will become guaranteed this summer if they’re retained through certain dates. We’re tracking all of those players and decisions right here.

Here are a few more contract notes from around the NBA:

  • Although Isaiah Roby was earning a minimum salary ($1,930,681) when he was waived by the Thunder on Sunday, he had been on a four-year contract that was worth more than the minimum in year one, which means any team interested in claiming him off waivers can’t use the minimum salary exception to do so, as Eric Pincus of Bleacher Report tweets. A club that wants to put a claim in on Roby would need the cap space to absorb his salary or a trade exception worth at least $1,830,681. Waivers claims are rare for non-minimum players, but Roby showed promise in Oklahoma City last season and could draw some interest.
  • Jock Landale‘s non-guaranteed minimum salary became partially guaranteed for $46,120 when he was traded from San Antonio to Atlanta last week, Hoops Rumors has learned. That was the exact amount that needed to be guaranteed for salary-matching purposes, as Landale’s $46,120 was added to Dejounte Murray‘s 2021/22 cap hit ($15,428,880) to get to within $5MM of Danilo Gallinari‘s incoming $20,475,000 figure (it was also partially guaranteed, but San Antonio needed to be able to match the whole incoming amount). The Hawks have since agreed to flip Landale to the Suns, and it doesn’t appear his partial guarantee will increase any further in that trade, since no salary-matching is involved.
  • In case you missed it, we relayed earlier today that Otto Porter‘s new deal with the Raptors is worth $12.4MM over two years. We’ll get more info on the specific details of contracts like Porter’s and many others beginning later this week, when the July moratorium lifts and those signings start becoming official.

13 Trade Exceptions Set To Expire In July

A total of 13 traded player exceptions created during the 2021 NBA offseason are set to expire this month if they go unused.

A trade exception is an NBA salary cap exception that can be generated when a team trades a player away. It allows that team to acquire a certain amount of salary without sending out any in return for one year after the exception was created. The club is permitted to trade for a player earning the amount of the exception, plus $100K.

[RELATED: Hoops Rumors Glossary: Traded Player Exception]

For instance, the Trail Blazers are set to use their $20,864,198 trade exception, created in February’s CJ McCollum trade, to acquire Jerami Grant, who is earning $20,955,000 in 2022/23. Grant narrowly fits into that TPE after accounting for the $100K in wiggle room.

Most trade exceptions expire without being used, but teams can sometimes find a use for them — especially the bigger ones like Portland’s. So it’s worth keeping tabs on which ones are still available.

Here are the 13 exceptions set to expire this month:

  1. Boston Celtics: $17,142,857 (expires 7/18)
  2. Los Angeles Clippers: $8,250,000 (expires 7/18)
  3. Indiana Pacers: $7,333,333 (expires 7/7)
  4. New Orleans Pelicans: $6,382,262 (expires 7/7)
  5. Chicago Bulls: $5,000,000 (expires 7/7)
  6. Memphis Grizzlies: $4,054,695 (expires 7/7)
  7. Brooklyn Nets: $3,246,530 (expires 7/6)
  8. Toronto Raptors: $3,070,052 (expires 7/6)
  9. Atlanta Hawks: $1,782,621 (expires 7/7)
  10. Golden State Warriors: $1,782,621 (expires 7/7)
  11. Milwaukee Bucks: $1,517,981 (expires 7/7)
  12. Boston Celtics: $1,440,549 (expires 7/7)
  13. Brooklyn Nets: $118,342 (expires 7/6)

The Celtics’ $17MM exception, created in last year’s Evan Fournier sign-and-trade, is the most noteworthy one here, but it appears unlikely to be used. Boston reached a deal last week to acquire Malcolm Brogdon without having to use the exception, and now appears to be a long shot to strike another major trade agreement.

The third exception on this list, the Pacers’ $7.3MM TPE, will disappear if Indiana decides to operate under the cap. The team would have to renounce the exception in order to actually make use of its cap room.

While it’s possible some of the other exceptions on this list will be used before they expire, they won’t accommodate any of the deals that have been agreed upon to date.

The full list of outstanding trade exceptions can be found right here.

Spurs, Pacers, Pistons Still Have Cap Room Available

While many free agent agreements have been reported since last Thursday evening, few will become official until the NBA’s moratorium period ends this Wednesday. That means the terms that have been reported – and the cap space or cap exceptions teams will use to complete those signings – haven’t yet been locked in.

Still, we have a pretty good sense of what the cap room situation looks like for teams around the league. Here’s a snapshot, as of the morning of July 4, of which clubs still have the most spending power:


Teams with cap room:

By our count, the Spurs project to have about $38MM in remaining cap room, and could push that number even higher by stretching Danilo Gallinari‘s partial guarantee across three years when they officially waive him. However, it’s very unlikely they’d do so unless they have a specific need for that extra room. San Antonio could also create some extra space by waiving Keita Bates-Diop or Tre Jones, who have non-guaranteed salaries for 2022/23, though there has been no indication that will happen.

The Pacers, meanwhile, should have a little over $26MM in cap room once the Malcolm Brogdon trade is finalized, based on our projections. Like San Antonio, Indiana has a couple players without full guarantees (Duane Washington and Terry Taylor) and could create more cap space by waiving one or both.

The Pistons have already committed a chunk of their cap room to taking on Nerlens Noel, Alec Burks, and Kemba Walker from New York, but haven’t used it all yet. If Walker gives back his minimum salary in a reported buyout agreement and Detroit uses its room exception to sign Kevin Knox to his two-year, $6MM deal, the team could have $14MM+ in space — or even more, if Walker’s dead money is stretched across three seasons.

It remains unclear what the Spurs, Pacers, and Pistons will do with their remaining cap room. All three teams have been linked to restricted free agent center Deandre Ayton at some point during the offseason and could theoretically still make a run at him, with Indiana and Detroit perhaps sending back players in a sign-and-trade deal to fit a max deal for the big man under the cap. Still, there’s a sense the Pistons have backed off Ayton after landing Jalen Duren on draft night, and it’s unclear whether the Spurs or Pacers have serious interest.

Accommodating salary-dump trades to acquire more assets could be an option for all three teams, either in the offseason or close to the trade deadline.

The Knicks are the other team expected to use cap room this summer, but after signing Jalen Brunson and Isaiah Hartenstein, they won’t have much left over. Even if they waive Taj Gibson and sign Brunson and Hartenstein to the lowest starting salaries possible based on their reported contract terms, New York projects to have less than $5MM in remaining room.


Mid-level exception teams:

The Hornets, Grizzlies, Thunder, Magic, and Jazz all still have their full non-taxpayer mid-level exceptions available, giving them the ability to offer up to about $10.5MM to a free agent. It’s worth noting though that Utah’s cap situation remains in flux as we wait to see what other moves the team has up its sleeve after trading Royce O’Neale and then agreeing to a blockbuster deal involving Rudy Gobert.

The Hawks, Nets, Heat, Pelicans, and Suns haven’t committed any mid-level money to free agents yet, but unless they shed salary, they’ll probably be limited to the taxpayer MLE (worth about $6.5MM) due to their proximity to the tax line.

The Bulls have used a small portion of their mid-level exception and should still have $7MMish available to spend, but doing so would push them into luxury tax territory, which ownership may be against.

There are some teams that could theoretically open up part or all of their mid-level exception if they’re able to turn reported free agent agreements into sign-and-trades. For example, Ricky Rubio agreed to a three-year, $18.4MM deal with the Cavaliers that will presumably use the MLE, but if Cleveland and Indiana were able to work out a sign-and trade deal involving Rubio, it would free up the Cavs’ mid-level to use on another move.

Grizzlies Signed Vince Williams Jr. To Two-Year, Two-Way Deal

  • The Grizzlies‘ two-way deal with Vince Williams Jr. covers two years, tweets Michael Scotto of HoopsHype. Edwards, who was drafted No. 47 overall by Memphis last Thursday, averaged 14.1 points per game at VCU last season, shooting 38.7% from three-point range.

Grizzlies Sign Three Draft Picks, Kenneth Lofton Jr.

The Grizzlies have signed first-round draft picks Jake LaRavia and David Roddy to multi-year contracts, the team tweets.

LaRavia, who played for Wake Forest last season, was acquired by Memphis with the No. 19 overall pick pursuant to a draft-night trade with the Timberwolves. His rookie scale contract, under the latest salary cap, could go four years and can be worth up to $14,763,367.

Roddy, who played for Colorado State last season, was acquired by the Grizzlies with the No. 23 overall pick after a trade with the 76ers. His rookie scale deal can go four years and be worth up to $12,985,886.

[RELATED: Rookie Scale Salaries For 2022 NBA First-Round Picks]

The Grizzlies also announced that wing Vince Williams Jr. and big man Kenneth Lofton Jr. have signed two-way contracts (Twitter link).

Williams Jr., the No. 47 overall pick of this year’s draft, was selected to the 2021/22 All-Atlantic 10 First Team during his senior year at VCU.

The Grizzlies’ decision to give Lofton a two-way deal was previously reported. He was named to the All-Conference USA First Team during his sophomore year at Louisiana Tech last season but went undrafted.

With Williams and Lofton on two-way deals, the Grizzlies have waived guard Tyrell Terry, who signed a two-year, two-way contract last season. Terry, drafted by Dallas in 2020, appeared in two games with Memphis in ’21/22.

The Grizzlies still have one unsigned draftee, No. 38 pick Kennedy Chandler. His deal will likely be completed once the July moratorium ends.

Grizzlies Re-Sign Tyus Jones

JULY 6: The Grizzlies have officially re-signed Jones, the team announced today in a press release.


JUNE 30: The Grizzlies are re-signing point guard Tyus Jones, according to Adrian Wojnarowski of ESPN (Twitter link). Agent Kevin Bradbury tells Wojnarowski that Jones is signing a two-year, $30MM contract to remain in Memphis.

Jones was expected to draw significant interest from teams in need of help at the point this summer, but many of those teams only had the mid-level exception available. Jones’ new deal with the Grizzlies will be worth significantly more than that.

The NBA’s leader in assist-to-turnover ratio for four straight seasons, Jones has turned the ball over just 326 times in 8,377 career NBA minutes. Besides taking care of the ball and distributing it, the 26-year-old also set career highs in PPG (8.7) and 3PT% (.390) in 2021/22.

Although he has never been a full-time starter for the Grizzlies, Jones plays an important role alongside Ja Morant and provides the team with a solid insurance policy if Morant, who plays at a breakneck pace, continues to deal with injury issues going forward.

Memphis also traded De’Anthony Melton to Philadelphia earlier in the offseason, which could lead to a slightly expanded role for Jones in 2022/23.