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Derrick Rose Announces Retirement

September 26th, 2024 at 6:16am CST by Luke Adams

Former NBA Most Valuable Player Derrick Rose has announced his retirement as a basketball player.

Rose confirmed the decision in a post on Instagram and, according to Malika Andrews and Tim MacMahon of ESPN, by taking out full-page ads in local newspapers of the six NBA cities he played in: Chicago, New York, Cleveland, Minneapolis, Detroit and Memphis.

“Knowing that I gave my all to the game, I feel confident in my decision,” Rose told ESPN. “Basketball was just the beginning for me. Now, it’s important that I give my all to my family — they deserve that.”

Rose added in a statement to Shams Charania of The Athletic: “The next chapter is about chasing my dreams and sharing my growth. I believe true success comes from becoming who you were created to be, and I want to show the world who I am beyond basketball.”

Rose, who will turn 36 next Friday, was selected first overall in the 2008 NBA draft by his hometown Bulls. He earned Rookie of the Year honors in 2009 and was named an All-Star in each of his next three seasons, winning the MVP award in 2011. Over the course of that season, his third in the NBA at age 22, he averaged 25.0 points, 7.7 assists, and 4.1 rebounds per game across 81 starts, leading the Bulls to a league-best 62-20 record.

The fact that Rose won the MVP award while still on his rookie scale contract resulted in an NBA rule being unofficially named after him. As we’ve outlined in a Hoops Rumors Glossary entry, the “Derrick Rose rule” allows players coming off their rookie deals to sign maximum-salary contracts worth up to 30% of the salary cap instead of the typical 25% if they’ve earned a major award such as MVP, Defensive Player of the Year, or All-NBA.

However, Rose’s career hit a snag following his first four seasons in Chicago, as he missed the entire 2012/13 season due to an ACL tear and only played in 10 games in ’13/14 as he continued to recover from that injury.

The 6’3″ guard ultimately made it back to the court on a more regular basis in ’14/15, but he only appeared in more than 51 games in a season twice in his final 10 NBA seasons as he continued to be affected by health issues that sapped him of the speed and explosiveness he displayed in his first few years.

Rose was still an effective role player when healthy, earning Sixth Man of the Year votes in 2019, 2020, and 2021 for the Timberwolves, Pistons, and Knicks, but his injury woes prevented him from fully delivering on the potential to be a longtime NBA star that he showed early in his career.

Rose will call it a career with averages of 17.4 PPG, 5.2 APG, and 3.2 RPG in 723 career regular season games (30.5 MPG). He also made 52 postseason appearances and put up 21.9 PPG, 6.3 APG, and 4.3 RPG in those outings. He made the Eastern Conference Finals with the Bulls during his MVP year in 2011, though he never played in the NBA Finals. In addition to suiting up for the Bulls, Timberwolves, Pistons, and Knicks, he spent time with the Cavaliers and Grizzlies.

Rose had been under contract with Memphis for the 2024/25 season, but requested his release and gave up his full $3.3MM guaranteed salary for the year as part of that agreement.

As K.C. Johnson of The Chicago Sports Network tweets, there are no immediate plans for Rose to sign a ceremonial one-day contract with the Bulls, but the organization will almost certainly honor its former star at some point this season.

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Timberwolves Sign Guard Trevor Keels

September 25th, 2024 at 2:38pm CST by Dana Gauruder

SEPTEMBER 25: The Timberwolves have officially signed Keels, the team confirmed in a press release. The Wolves also formally confirmed three other recent signings.

SEPTEMBER 24: The Timberwolves have agreed to a contract with Trevor Keels, Michael Scotto of HoopsHype tweets.

The 21-year-old guard played three games for the Knicks in 2022/23. Keels, who was the 42nd overall pick of the 2022 draft out of Duke, was waived by New York after his rookie campaign.

Keels participated in Minnesota’s training camp last season but he was waived before the opener. He spent the season with Minnesota’s G League club, the Iowa Wolves, where he averaged 13.5 points and 3.7 assists per game.

Terms of the contract have not been disclosed but it’s likely an Exhibit 10 contract. Assuming that’s what Keels signs, he’ll be eligible for a bonus worth up to $77.5K if he’s waived and then spend at least 60 days with Iowa again.

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And-Ones: Sports Betting, NBA Offseason, Injury Returns

September 21st, 2024 at 12:10pm CST by Luke Adams

While the NBA is in favor of federal regulations for sports betting, the league doesn’t unequivocally support the bill introduced last week in Congress, which is considered to have both positives and negatives, per David Purdum of ESPN.

The Supporting Affordability and Fairness with Every Bet Act, also known as the “SAFE Bet Act,” would prohibit sportsbook advertising from 8:00 am to 10:00 pm (and during live sports broadcasts) and would ban in-game betting. The proposal to eliminate live wagering is one aspect of the bill likely to be opposed by the NBA and other sports leagues, given the increasing popularity of that form of betting, notes Purdum.

A league source tells Purdum that the NBA is keeping an eye on the legislation and views it as a “starting point to a very lengthy process.”

Here are more odds and ends from around the

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Pre-Camp Roster Snapshot: Northwest Division

September 20th, 2024 at 10:01pm CST by Luke Adams

Hoops Rumors is in the process of taking a closer look at each NBA team’s current roster situation, evaluating which clubs still have some moves to make and which ones seem most prepared for training camp to begin.

This series is meant to provide a snapshot of each team’s roster at this time, so these articles won’t be updated in the coming weeks as more signings, trades, and/or cuts are made. You can follow our roster counts page to keep tabs on teams’ open spots as opening night nears.

We’re continuing our pre-camp Roster Snapshot series today with the Northwest Division. Let’s dive in…

Denver Nuggets

Under general manager Calvin Booth, the Nuggets have typically set their training camp roster early in the offseason and not made any changes to the back end until the preseason is underway. Last year, for instance, Denver maxed out its 21-man roster on August 3 and didn’t make another roster move until October 13.

It looks like the team will probably stick to that pattern this year, taking the current group to camp and then rotating some Exhibit 10 signees on and off the roster during the preseason. With 15 players on guaranteed contracts and three on two-way deals, Denver’s projected regular season roster also looks set.

Minnesota Timberwolves

Although the Timberwolves have some back-end roster flexibility, they also have significant projected luxury tax penalties, and with the battle for control of the franchise headed to arbitration this fall, it’s still unclear who exactly will be on the hook for that tax bill.

With that in mind, I’d be surprised to see the Wolves carry a full 15-man standard roster into the regular season. And it’s probably safe to assume Dozier will start the season as the 14th man, since he has a $1MM partial guarantee that the team would have to eat if he’s waived and replaced with a newcomer. Minnesota could potentially make a change at that 14th spot before the league-wide guarantee date on January 7 if Dozier doesn’t prove in the first half that he deserves it, but his place on the opening night roster looks relatively safe.

While I expect some more Exhibit 10 shuffling in the coming days and weeks, the Wolves could set their camp roster by simply completing Randle’s deal, which would get them to the 21-man limit.

Oklahoma City Thunder

Even if they finalize their reported Exhibit 10 deals with Boeheim and Leons before October 1 and have both players with them in training camp, the Thunder would only have 19 players under contract, so they likely have more moves up their sleeve in the coming week or two.

The Thunder are one of the few NBA teams well positioned to bring in another veteran free agent who could make the 15-man standard roster. While Jaylin Williams will make the team, that still leaves the 15th spot open, and Oklahoma City is more than $11MM away from the luxury tax line, so another minimum-salary signing wouldn’t be a problem financially. With Topic out for the season and Kenrich Williams seemingly unlikely to be ready for opening night, the club could also use another depth piece.

It’s unclear whether the Thunder are perusing the free agent market with an eye toward adding a 15th man, but one more wing would make sense to me, with Oshae Brissett, Nassir Little, Justin Holiday, and Reggie Bullock among the available players who could fit.

Portland Trail Blazers

Banton’s big numbers (16.7 PPG, 3.6 APG) down the stretch for the Trail Blazers were the result of significant usage (27.2%) rather than a jump in scoring efficiency (he shot .408/.311/.780). Still, I’d give him the edge over Graham for the 15th roster spot in Portland since he’s younger and has a small partial guarantee. That spot’s not set in stone though.

The Trail Blazers still have one opening on their 21-man preseason roster. Unless the Blazers intend to bring in another player to compete with Banton and Graham to be the 15th man, that roster spot could be used to churn through Exhibit 10 signees for the Rip City Remix, Portland’s G League affiliate.

Utah Jazz

The Jazz‘s roster looks pretty close to ready for the regular season, with 15 players on guaranteed standard contracts and all three two-way spots occupied. Utah’s roster moves this fall may just consist of rotating Exhibit 10 players in and out before making final cuts at the end of the preseason.

A two-way shake-up is always a possibility, but Potter, Preston, and Tshiebwe all played well in the G League last season, so one of the non-guaranteed camp invitees would have to make a strong impression in October for the team to make a change there.

Previously:

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Western Notes: Timberwolves, Beal, James, Buss, Grizzlies

September 19th, 2024 at 10:59am CST by Dana Gauruder

The arbitrators in the Timberwolves’ ownership dispute have been named.

Retired Hennepin County (Minn.) District Court Judge Thomas Fraser will serve as the neutral arbitrator in the upcoming legal proceedings, according to Sportico’s Eben Novy-Williams and Michael McCann.

Fraser is one of three people who will oversee the proceedings, which will begin the week of Nov. 4, to settle the legal battle between current Timberwolves majority owner Glen Taylor and the group headed by Alex Rodriguez and Marc Lore. The other two arbitrators will be retired Minnesota Supreme Court Justice Kathleen Blatz (appointed by Taylor) and Wilson Sonsini partner Joseph R. Slights III (appointed by Rodriguez/Lore).

We have more from the Western Conference:

  • The suggestion that Bradley Beal should be the Suns’ sixth man doesn’t make a lot of sense, Gerald Bourguet of Gophnx.com opines. Despite an injury-plagued season, Beal is the team’s third-best player and removing him from the starting five in favor of Grayson Allen is a downgrade on several levels, in Bourguet’s view.
  • LeBron James‘ work ethic never ceases to amaze Lakers owner Jeanie Buss, she told Chuck Schilken of the Los Angeles Times. “He consistently delivers. He puts in the work. He’s not only a worldwide brand, but he is our leader,” Buss said. “He’s the captain of our team and he sets the tone, sets the pace by putting in the hard work. Nobody can complain about the work if you see somebody with his résumé and his longevity of career, nobody can complain about having to practice if he’s willing to do it. And he does. He just amazes me.”
  • Robinhood Markets, Inc., a financial services company, will serve as the jersey patch and official investing partner of the Grizzlies, Damichael Cole of the Memphis Commercial Appeal writes. The same company is also in a partnership with the Wizards for their jersey patch this season.The Grizzlies haven’t had a jersey patch since 2021, after a three-year deal with FedEx came to an end, Cole adds.
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Timberwolves Sign Jaedon LeDee To Exhibit 10 Contract

September 18th, 2024 at 6:01pm CST by Arthur Hill

Former San Diego State forward Jaedon LeDee has agreed to an Exhibit 10 contract with the Timberwolves, sources tell Michael Scotto of HoopsHype (Twitter link). The deal is official, per RealGM’s transaction log.

LeDee, 25, joined Minnesota’s Summer League team after going unselected in this year’s draft. He appeared in five games in Las Vegas, averaging 2.6 points and 2.0 rebounds in 9.8 minutes per night.

In his senior season with the Aztecs, LeDee received the Karl Malone Award as the best power forward in college basketball. He was also selected as a second-team All-American by NABC and the Sporting News and was a third-team choice by the Associated Press after posting 21.4 points, 8.4 rebounds and 1.2 assists in 36 games.

LeDee began his collegiate career at Ohio State, but transferred to TCU after his freshman season. He moved on to San Diego State two years later and was part of the 2023 Final Four team. He originally declared for the draft in 2023, but withdrew his name to spend one more season in college.

The Wolves currently have 14 players on standard contracts and all three of their two-way slots filled, so LeDee faces long odds to earn a roster spot. He’ll likely end up with the team’s G League affiliate in Iowa, where he’ll be eligible to earn a bonus of up to $77.5K by remaining with the team for 60 days.

LeDee’s signing brings Minnesota’s roster to 20 players, one off the 21-man offseason limit.

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Northwest Notes: Gupta, Mays, Singer, Jazz Offseason

September 17th, 2024 at 9:51pm CST by Dana Gauruder

Timberwolves executive Sachin Gupta is changing sports. He’s leaving his post as executive vice president of basketball operations to take a prominent position with soccer’s Chelsea FC, Jon Krawczynski of The Athletic tweets.

Gupta, 42, has been in the Timberwolves’ front office since May 2019. He also had stints with the Rockets, Sixers and Pistons. Gupta served as the interim head of basketball operations in Minnesota following the 2021 dismissal of Gersson Rosas before the organization hired Tim Connelly in 2022.

We have more from the Northwest Division:

  • The Timberwolves’ NBA G League franchise, the Iowa Wolves, has acquired the returning player rights to guard Skylar Mays from the Westchester Knicks in exchange for the returning player rights to guard Vit Krejci and a 2025 G League first round pick, according to a Wolves press release. The Timberwolves signed Mays to an Exhibit 10 contract on Tuesday. By trading for Mays’ returning player rights, the Wolves can offer him a bonus worth up to $77.5K if he’s waived and then spends at least 60 days with the Iowa Wolves.
  • A former Nuggets beat writer is joining their organization. Denver is hiring former Denver Post reporter Mike Singer as their director of intelligence and strategy, according to The Denver Post’s Bennett Durando. In addition to hiring Singer, the Nuggets are promoting Todd Checovich to the position of scouting director. Drew Nicholas, who held that position for two years, accepted a new job with the Nets this summer.
  • Many of the Jazz players stayed close to their NBA home during the offseason. Keyonte George, Taylor Hendricks, Isaiah Collier, Brice Sensabaugh, Cody Williams, Kyle Filipowski, Walker Kessler and Collin Sexton spent the majority of the summer working out in Utah, according to Sarah Todd of The Deseret News.
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2027/28 Season Viewed As Target For NBA Expansion

September 17th, 2024 at 4:00pm CST by Luke Adams

One reason the NBA isn’t yet prepared to dive head-long into expansion talks is that a potential Celtics sale could reset the market, sources tell ESPN’s Tim Bontemps, Kevin Pelton, and Brian Windhorst. If the Celtics set a new record for the highest sale price ever for an NBA team, it would only increase the price tag for incoming expansion franchises, as ESPN’s trio notes.

Commissioner Adam Silver recently stated that the NBA is “not quite ready” to move forward on the expansion process, though he left the door open for those discussions to happen later on in the 2024/25 league year.

With the NBA continuing to drag its heels on expansion, league sources and people connected to potential bidding groups are viewing the 2027/28 season as the target date for when one or more expansion teams could begin playing, with the ’26/27 campaign considered an increasingly unrealistic – albeit not impossible – option, according to Bontemps, Pelton, and Windhorst.

Based on the growing valuations of NBA franchises, it’s not unrealistic to project that a pair of new teams could net the league $10 billion combined – or even more than that – in expansion fees, ESPN’s reporters suggest.

While some current NBA team owners are wary of further diluting their share of the league’s revenue by slicing off two more pieces of a “pie” currently being shared 30 ways, expansion fee payments (which don’t have to be shared with the players’ union) exceeding $300MM apiece could help sway those ownership groups, as Bontemps, Pelton, and Windhorst point out. Additionally, the $76 billion media rights deal negotiated by the NBA earlier this year has assuaged some owners’ concerns about sharing revenues with 31 partners instead of 29, the ESPN trio adds.

Here are a few more items of note from ESPN’s in-depth FAQ on the possibility of expansion:

  • Although the National Basketball Players Association has no real voice in the expansion process, the union would be “very much in favor” of adding 36 new jobs (30 standard roster spots and six two-way slots) for its members, sources tell ESPN.
  • Seattle and Las Vegas are widely considered the favorites to land expansion teams, but they likely won’t be the only cities receiving consideration. Sources who spoke to ESPN view Mexico City as the most likely candidate to seriously enter the mix along with Seattle and Vegas, though Bontemps, Pelton, and Windhorst acknowledge there would be a number of “logistical hurdles” to contend with.
  • If Seattle and Las Vegas land expansion teams, they would both have to be Western Conference clubs, meaning one current Western team would have to move to the Eastern Conference. According to ESPN, that decision would likely come down to the Pelicans, Grizzlies, and Timberwolves, with Minnesota considered the most logical choice to move East since the Wolves are geographically closer to five Eastern opponents than they are to their closest Western opponent (Denver). Still, it could be a “protracted fight” to determine which team would change conferences.
  • The ownership group of the NHL’s Seattle Kraken – led by Samantha Holloway and her father David Bonderman – is considered the most likely bidder for a Seattle franchise, per ESPN. Hall of Fame NBA executive Rick Welts has served as an advisor for the Kraken ownership group, which also includes the sons of former Sonics owner Barry Ackerley. Chris Hansen, who previously attempted to relocate the Sacramento Kings to Seattle, isn’t expected to lead a bid to bring the NBA to the city, but would be willing to assist in the process, ESPN’s trio adds.
  • Active NBA players aren’t permitted to own a stake in an existing franchise, but the rules for an active player becoming a stakeholder in an expansion franchise (before it begins play) aren’t as clear. Those rules may need to be clarified in the coming years, with LeBron James seriously interested in getting involved in a bid for a Las Vegas team. According to ESPN’s report, former Bucks co-owner Marc Lasry is putting together a group to bid for a Vegas franchise — that group is expected to include longtime WNBA star Candace Parker.
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Timberwolves Sign Eugene Omoruyi, Skylar Mays

September 17th, 2024 at 8:33am CST by Luke Adams

SEPTEMBER 17: Both deals are official, per RealGM’s transaction log. Both Omoruyi and Mays signed Exhibit 10 contracts, as expected, Hoops Rumors has confirmed.

SEPTEMBER 16: The Timberwolves have agreed to sign free agents Eugene Omoruyi and Skylar Mays, reports Michael Scotto of HoopsHype (Twitter link).

While Scotto doesn’t specify the terms of the agreements, Omoruyi and Mays seem likely to sign non-guaranteed contracts that include Exhibit 9 and/or Exhibit 10 language. The Exhibit 9 clause protects teams in the event of a preseason injury, while the Exhibit 10 clause allows for a bonus worth up to $77.5K if the player is waived by his NBA team and then spends at least 60 days with the club’s G League affiliate.

Omoruyi, 27, has played for the Mavericks, Thunder, Pistons, and Wizards since making his NBA debut in the fall of 2021. The 6’7″ forward made a career-high 43 appearances for Washington last season, averaging 4.8 PPG, 2.0 RPG, and 0.8 APG in 9.1 MPG. His contract with the Wizards covered the 2024/25 season, but his salary was non-guaranteed and Washington opted to waive him in August.

Mays, the 50th overall pick in the 2020 draft, has appeared in 105 games across four seasons for the Hawks, Trail Blazers, and Lakers. The 27-year-old guard, who played his college ball at LSU, split his time between Portland and L.A. last season, appearing in 38 total NBA games and averaging 4.1 points, 2.2 assists, and 1.1 rebounds in 11.4 minutes per contest. He owns a career shooting line of .445/.345/.859.

Mays was rumored last month to be drawing interest from Italian team Olimpia Milano, but it appears he’ll be remaining stateside at least for the time being. He’s no longer eligible for a two-way contract, whereas Omoruyi – who has three years of NBA service – has one more season of two-way eligibility.

The Wolves currently have 17 players under contract. Once they complete reported deals with Omoruyi, Mays, and Chasson Randle, they’ll be one away from the 21-player preseason limit.

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Wolves Notes: Financial Future, Dillingham, Ingles, Gobert

September 16th, 2024 at 10:43am CST by Arthur Hill

There’s been unprecedented offseason excitement surrounding the Timberwolves after they reached the Western Conference Finals, but their time as title contenders could be limited, writes Jon Krawczynski of the Athletic. While ticket sales and sponsorships have reached an all-time high, there are financial realities on the horizon that threaten the team’s future.

Minnesota already has an expensive roster with Karl-Anthony Towns, Rudy Gobert and Anthony Edwards playing on max contracts, and Jaden McDaniels, Naz Reid and Mike Conley all have lucrative deals as well. The Wolves are one of four teams operating above the second apron, which imposes significant financial penalties and severely restricts their ability to make roster moves.

Krawczynski points out that wealthier rivals like the Warriors and Clippers made roster decisions this summer to ease their financial burdens, even if those choices meant sacrificing talent. Both those teams have stable ownership situations, unlike the Wolves, who are the subject of a battle between Glen Taylor and the Marc Lore/Alex Rodriguez group that won’t be decided until after a November arbitration hearing.

Krawczynski also notes that Minnesota has rarely been a taxpaying team since Taylor took over as owner. He speculates that anything short of a championship season could result in a roster upheaval, speculating that rival teams already have their eyes on a potential breakup. Towns has long been involved in trade rumors, while Gobert is eligible for an extension with just one guaranteed year (plus a player option) left on his current deal, Reid holds a player option for the 2025/26 season, and Nickeil Alexander-Walker will be seeking a raise next offseason following the final year of his current contract.

There’s more from Minnesota, all from Krawczynski:

  • The Wolves didn’t seek a veteran guard to back up Conley this summer because they have confidence in first-round picks Rob Dillingham and Terrence Shannon. They lost Kyle Anderson, Jordan McLaughlin and Monte Morris from last year’s roster, and Dillingham is the team’s only true point guard behind Conley. At Kentucky, Dillingham displayed a quick first step to get past defenders, and Krawczynski states that general manager Tim Connelly believes the young guard can create opportunities for his teammates.
  • Minnesota hopes Joe Ingles will replace the play-making from the wing it lost when Anderson left, Krawczynski adds. Ingles, who signed as a free agent, also provides much better shooting, although he’ll turn 37 in October.
  • Krawczynski notes that Gobert responded to offseason criticism last year by becoming a better fit in the Wolves’ offense and winning Defensive Player of the Year honors for the fourth time. The French big man may feel like he has something to prove again after his embarrassing lack of playing time during the Summer Olympics.
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