The Sixers were docked two second-round draft picks for holding early free agent discussions with forwards P.J. Tucker and Danuel House. The Knicks could be the next team to be penalized.
The league’s investigation into early contact regarding the Knicks’ pursuit of free agent Jalen Brunson remains ongoing, Adrian Wojnarowski of ESPN tweets. New York signed the former Dallas guard to a four-year, $104MM deal in July.
The Cavaliers knew they were getting a star when they traded for Donovan Mitchell, but so far he’s been better than anyone anticipated, writes Jason Lloyd of The Athletic. Mitchell had 38 points and a career-high 12 assists Sunday night as Cleveland won its fifth straight game, topping a Knicks team that spent much of the summer trying to acquire Mitchell from the Jazz. Even though he’s a three-time All-Star, Mitchell is exceeding expectations.
“We already had such a great group, but I think he just elevates us to another place,” Kevin Love said. “A guy that has experience, a guy that is a star in this league is playing some really great basketball right now. … We don’t see any signs of him slowing down.”
Through six games with the Cavs, Mitchell ranks fourth in the league in scoring at 32.2 PPG and is in the top 10 in assists at 7.3 per night. Both numbers would be career highs by a wide margin if he can sustain them for an entire season. Mitchell doesn’t feel like he’s a different player since the trade, but says he was often overlooked in Utah.
“We were in Mountain time. No one really watched us, so you kinda fall under the radar,” he said. “I feel like I’ve just been doing this nonstop, and I just continue to get better and more efficient. … I think this has been my best stretch in my career, but I gotta keep going.”
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The Knicks are about to get their first look at Donovan Mitchell since spending much of the summer trying to trade for him, writes Peter Botte of The New York Post. Buoyed by Mitchell’s addition, the Cavaliers are tied for second in the East at 4-1 and they’ll try to improve that record when they host New York on Sunday.
The Jazz and Knicks held protracted trade talks through the offseason, but they weren’t able to finalize a deal, allowing Cleveland to swoop in with an offer for the three-time All-Star. Mitchell has been everything the Cavs thought he would be, averaging career highs in points (31.0), rebounds (4.8) and assists (6.4) through the first five games of the season.
“The one thing he does extremely well is he stops on a dime. When he drives hard to the basket and he stops, with the speed and agility he has, he always creates separation,” said Evan Fournier, who was rumored to be in several versions of the Mitchell trade. “He’s really hard to guard. He’s very streaky. He can be not efficient at times. But when he gets it going, it feels like he can’t miss.”
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The emergence of new Knicks point guard Jalen Brunson as the team’s primary ball-handler has helped free up power forward Julius Randle from the pressures of the team’s lottery-bound 2021/22 season, writes Steve Popper of Newsday. Popper notes that Randle has appeared to be more engaged with his teammates and a more active leader overall.
“I’m just trying to lose myself in the team,” Randle said. “Adding Jalen, our team another year starting playing together helps. But the big shot he hit in crunch time [Monday], typically they’re looking for me to go get a basket. For him to take that pressure off me is huge.”
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For the first time since Forbes began issuing annual valuations of NBA teams over two decades ago, a team other than the Knicks or Lakers ranks atop the publication’s list of 2022’s most valuable franchises.
According to Mike Ozanian and Justin Teitelbaum of Forbes, the Warriors are now considered the NBA’s most valuable club, with a record-setting valuation of $7 billion following a championship season.
Forbes’ duo explains that the Warriors generated more revenue and operating income in 2021/22 than any other team in NBA history, buoyed by $150MM in arena sponsorships and advertising, along with $250MM from premium seating.
While the Warriors enjoyed the biggest bump in value since Forbes’ most recent round of valuations, every other NBA team saw its valuation rise during that time as well, according to Ozanian and Teitelbaum, who say the average franchise is now valued at $2.86 billion. That’s 15% more than a year ago, despite the fact that the stock market is down 15% over the same time period.
Of the NBA’s 30 teams, only one – the Nets – lost money last season, per Forbes’ report, which states that record-setting sponsorship and advertising revenue ($1.35 billion last season) has put the league back on its “pre-Covid growth trajectory.” Further growth is anticipated going forward, with a new television and media deal to be negotiated in the coming years — it will take effect in 2025.
Although Forbes’ figures are just estimates and often don’t quite match up with the sale prices for franchises that change hands, they’re still useful for getting a sense of the league’s most and least valuable teams.
Here’s Forbes’ full list of NBA franchise valuations for 2022:
As expected, the Knicks have exercised their team options for 2023/24 on guard Immanuel Quickley and wing Quentin Grimes, the team announced today (via Twitter). The Knicks also confirmed that they’ve picked up Obi Toppin‘s ’23/24 option, as was previously reported.
Quickley, 23, was the 25th overall pick in the 2020 draft. He has been a go-to reserve for New York since entering the league, averaging 11.4 PPG as a rookie and 11.3 PPG last season. He has struggled with his shot (.320 FG%, .200 3PT%) through three games in 2022/23, but is filling up the box score with 5.0 APG and 5.3 RPG.
Grimes had a promising rookie season in 2021/22 after being drafted at No. 25 overall in 2021, shooting 38.1% on three-pointers and showing some real defensive upside. He was expected to vie for the starting shooting guard spot this season, but has been hampered by a left foot issue and has yet to make his regular season debut.
Quickley will earn a guaranteed $4,171,548 salary in 2023/24. Grimes’ salary for that season is now a guaranteed $2,385,720.
Quickley will be eligible for a rookie scale extension in 2023 and for restricted free agency in 2024, while Grimes still has one more option (for ’24/25) on his rookie contract — the Knicks will have until next October 31 to make a decision on that option.
All of this year’s rookie scale option decisions can be found right here.
The Knicks have picked up their team option on forward Obi Toppin for the 2023/24 season, reports Adrian Wojnarowski of ESPN (Twitter link). Toppin’s fourth-year option will pay him a guaranteed salary of $6,803,012.
Toppin, the eighth overall pick in the 2020 draft, hasn’t played a significant role so far for the Knicks, averaging just 11.0 minutes per game in 62 appearances as a rookie and 17.1 MPG in 72 games last season. However, he has been increasingly productive in his limited minutes. He’s averaging 9.3 PPG and 3.7 RPG on 57.1% shooting through three games (16.0 MPG) in 2022/23.
Toppin will earn approximately $5.35MM this season before making $6.8MM in the final year of his rookie contract in 2023/24. He’ll be up for a rookie scale extension during the 2023 offseason and would be eligible for restricted free agency in 2024 if he doesn’t sign a new deal before then.
The Knicks have two more rookie scale option decisions to make besides Toppin’s before next Monday’s deadline, though both seem fairly simple. We can presumably count on the team picking up Immanuel Quickley‘s fourth-year option ($4.17MM) and Quentin Grimes‘ third-year option ($2.39MM) for ’23/24.
Knicks power forward Julius Randle has been enjoying a solid run as a play-maker for New York in this young NBA season, writes Ian Begley of SNY.tv. Reserve combo guard Derrick Rose appreciates the improvement.
“The way he’s reading the floor is totally different,” Rose raved. “His passing has been unbelievable. Understanding that we want to get up a certain amount of threes and he’s finding the shooters.”
With starting point guard Jalen Brunson function as the club’s primary passer, Randle has become a supplemental ball-handler among the starters, which appears to be a better fit for him.
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