Knicks Rumors

Eastern Notes: Heat, Horford, Knicks, Hornets

The Heat have engaged the Wizards in trade discussions, a source in contact with one of the teams tells Barry Jackson of The Miami Herald (Twitter link). Jackson notes that Miami “loves” Bradley Beal, but acknowledges that Washington has repeatedly indicated it has no plans to move its star shooting guard. Even if the Wizards were willing to discuss Beal, the Heat’s limited assets and difficult cap situation would make it “highly challenging” to put together a realistic deal, Jackson adds.

In other Heat trade news, the proposed deal with the Mavericks that appeared to be nearing completion on Sunday now looks dead. It won’t receive the same scrutiny or mockery that the in-season Dillon Brooks/MarShon Brooks mix-up involving the Wizards, Grizzlies, and Suns did, given everything else that’s going on this week, but the Mavs/Heat deal apparently also fell apart due to a miscommunication — Miami was certain that Goran Dragic was involved, while Dallas thought it was acquiring Kelly Olynyk and Derrick Jones, as Tim Cato of The Athletic details.

Here’s more from around the Eastern Conference:

  • A source tells Mark Murphy of The Boston Herald that Al Horford‘s decision to sign with the Sixers was partly about money, but also about the opportunity to play alongside a star center. Horford has “always been uncomfortable in a traditional center’s role,” Murphy writes.
  • Multiple league executives questioned why the Knicks used their cap room to sign a collection of non-stars rather than trying to take on bad contracts to add future assets, writes Mike Vorkunov of The Athletic.
  • Hornets owner Michael Jordan issued a statement today bidding farewell to Kemba Walker and thanking him for “eight incredible seasons with our franchise” (link via JD Shaw of Hoops Rumors). “He always represented the Hornets, the NBA, and the city of Charlotte with class – both on the court and in the community – and we are disappointed he is leaving,” Jordan said.

Knicks To Sign Elfrid Payton

The Knicks have agreed to a two-year, $16MM deal with free agent guard Elfrid Payton, his agents, Ty Sullivan and Aaron Mintz of CAA Sports, tell Shams Charania of The Athletic (Twitter link).

The agreement contains a team option in the second season, according to The Athletic’s Michael Scotto. That lines it up with the other two-year contract agreements the team has reached so far in free agency.

Payton, an athletic two-way point guard, is set to join his fourth team in the past 18 months. He was traded from Orlando to Phoenix in February of 2018, signed with New Orleans last July, and started 42 games with the club this season.

New York also had interest in veteran free agent George Hill, according to SNY’s Ian Begley, but Hill decided to return to Milwaukee on a three-year, $29MM deal on Sunday night. The team now has one open roster spot and roughly $2MM in projected cap space to spend, plus the $4.8MM room exception.

In addition to Payton, the Knicks have already come to terms with Julius Randle, Bobby Portis, Taj Gibson, Reggie Bullock and Wayne Ellington during the first 24 hours of free agency.

Knicks’ Deals With Portis, Gibson, Bullock, Ellington Include Second-Year Team Options

With the exception of Julius Randle, who agreed to a three-year contract, all of the veteran free agents who have agreed to sign with the Knicks so far are reportedly set to receive two-year deals. The structure of those contracts appeared to put New York on track to regain cap flexibility in 2021.

However, according to Bobby Marks of ESPN.com (via Twitter), the two-year deals for Bobby Portis, Taj Gibson, Reggie Bullock, and Wayne Ellington will all include second-year team options.

By not guaranteeing the second year on those contracts, the Knicks will be able to maintain cap flexibility for the 2020 offseason, bringing back any veterans who impress them and parting ways with those who don’t.

[RELATED: 2019 NBA Free Agent Tracker: Knicks’ Deals]

Although Randle’s contract runs an extra year, his deal will also reportedly feature a team option – or possible a modest partial guarantee – in its final season, according to reports.

Knicks To Sign Wayne Ellington

The Knicks have agreed to a two-year, $16MM contract with free agent sharpshooter Wayne Ellington, according to ESPN’s Adrian Wojnarowski (Twitter link).

Ellington, a career 38% shooter from behind the arc, will play for the ninth different team of his career. He’s previously made stops with Minnesota, Memphis, Cleveland, Dallas, Los Angeles, Brooklyn, Miami and Detroit.

New York has already reached agreements with Julius Randle (3-year/$64MM), Bobby Portis (2-year/$31MM), Taj Gibson (2-year/$20MM) and Reggie Bullock (2-year, $21MM) during the first day of free agency. The team has roughly $10MM left in cap space with two open roster spots.

In addition to his floor-spacing ability, the Knicks value Ellington’s veteran mindset and locker room mentality. He averaged 12 points in 28 games for the Pistons last season, holding a 37% shooting mark from 3-point range.

Knicks, Reggie Bullock Agree To Two-Year Deal

The Knicks have reached a deal to sign free agent wing Reggie Bullock to a two-year, $21MM contract, reports Shams Charania of The Athletic (via Twitter).

While New York missed out on its top free agent targets, the team has had a busy day, reaching eight-figure, multiyear deals with Julius Randle, Bobby Portis, Taj Gibson, and now Bullock.

A first-round pick in the 2013 draft, Bullock began his career with the Clippers and then the Suns, but didn’t hit his stride until a stint with Detroit that began in 2015.

Bullock averaged 11.3 PPG and shot 44.5% on three-pointers for the Pistons in 2017/18. Last season, the veteran split his time between the Pistons and Lakers as a result of a deadline trade, recording 12.1 PPG with a .377 3PT% in 63 total games.

Like Portis and Gibson, Bullock will receive a two-year deal from the Knicks, while Randle’s third year features a partial guarantee. In other words, it appears New York will move forward with an eye toward regaining its cap flexibility during the summer of 2021. The team still projects to have about $18-20MM in cap room left this year after its reported agreements.

Photo courtesy of USA Today Sports Images.

Knicks, Bobby Portis Agree To Two-Year Deal

The Knicks will add Bobby Portis on a two-year deal, Adrian Wojnarowski of ESPN.com reports (Twitter link). Portis will make $31MM over the length of the deal.

Washington is rescinding its qualifying offer for Portis, according to The Athletic’s Fred Katz (Twitter link). The move will allow him to sign with New York without the threat of Washington matching an offer sheet.

Portis re-signing with the Wizards was unlikely given his salary expectations. There was always a sense that Washington would have to choose him or Thomas Bryant when prioritizing a big man to re-sign. Bryant agreed to a three-year deal with the Wizards earlier in the day.

Portis and Jabari Parker came to the Wizards in the Otto Porter Jr. trade. Parker is also considered unlikely to return to the team.

New York has now agreed to deals with three power forwards. In addition to Portis, the team agreed to sign Julius Randle to a three-year, $63MM deal and Taj Gibson to a two-year, $20MM pact

The Knicks are projected to have approximately $27.5MM in cap room after today’s agreements, ESPN’s Bobby Marks tweets.

Knicks’ Mills Issues Statement On Free Agency

After months of speculation that Kevin Durant and Kyrie Irving could be headed to New York this summer to join the Knicks, the two star free agents only delivered on half of that scenario — they’ll move to New York, but they’ll join the Knicks’ cross-town rivals in Brooklyn.

Having missed out on their top free agents, the Knicks have reached agreements so far with Julius Randle and Taj Gibson and still have about $40MM+ in cap room available. With fans expressing disappointment in the Knicks’ summer, the team’s president of basketball operations Steve Mills issued the following statement tonight:

“While we understand that some Knicks fans could be disappointed with tonight’s news, we continue to be upbeat and confident in our plans to rebuild the Knicks to compete for championships in the future, through the draft, targeted free agents, and continuing to build around our core of young players.”

The Knicks’ original statement, before it was amended and re-issued, ended by saying the team would rebuild its roster “through both the draft and targeted free agents,” without mentioning the “core of young players” (Twitter link via Steve Popper of Newsday).

Knicks To Sign Taj Gibson

The Knicks have agreed to a deal with Taj Gibson, Adrian Wojnarowski of ESPN.com relays (Twitter link). The contract will be for two years and $20MM.

The 10-year veteran spent the last two seasons in Minnesota on a $28MM deal that the club signed him to during the summer of 2017. He played in all but 12 games for the Wolves over his two seasons with the team.

After the agreement, the Knicks are looking at approximately $41MM in cap room. It was previously announced that the team will ink Julius Randle to a three-year, $63MM pact.

Knicks To Meet With Reggie Bullock

Latest On Kevin Durant

The Knicks were not prepared to present Kevin Durant will a full-max contract offer, Ramona Shelburne of ESPN.com hears (Twitter link). Owner Jim Dolan had concerns about Durant’s Achilles injury.

New York now has Julius Randle locked in on a three-year deal. The Knicks were long rumored to be the favorite for Durant’s services, though rumblings began to surface during the postseason that the Nets were contenders. Durant will take his talents to the other side of the Williamsburg Bridge.

[RELATED: Kevin Durant To Sign With Nets]

Durant and his business manager Rich Kleiman met with the Warriors GM Bob Myers today and delivered his decision to leave Golden State, Adrian Wojnarowski of ESPN.com relays via Twitter. The remainder of the contenders were informed later on in the day and Woj adds that the teams feel Durant handled the process well.

Durant’s deal with the Nets could end up being a sign-and-trade, Chris Haynes of Yahoo! Sports reports (Twitter link).

There’s no word on whether the Warriors would want a player back or simply to open up a $30MM trade exception (as CBA rules state the amount would be his previous salary). Golden State could then absorb a player in a trade without having to worry about matching salary. Such an arrangement would likely involve the Warriors including an asset, as the Nets could easily carve out the required cap room to sign Durant outright.