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Sixers Waive Montrezl Harrell

October 23rd, 2023 at 3:44pm CST by Luke Adams

3:44pm: The Sixers have officially waived Harrell, the team confirmed in a press release.

3:02pm: The Sixers are waiving big man Montrezl Harrell in order to reach the regular season roster limit, sources tell Shams Charania of The Athletic (Twitter link).

Philadelphia had been carrying 16 players on standard contracts and needed to get down to 15 before opening night. Harrell was one of 14 Sixers players whose salary for 2023/24 is fully guaranteed, but he underwent knee surgery in August after tearing his right ACL and medial meniscus, making him an obvious candidate to be released.

Harrell wasn’t a significant part of Philadelphia’s rotation last season, averaging 5.6 points and 2.8 rebounds in just 11.9 minutes per game across 57 appearances.

That made it a bit of a surprise when the 29-year-old re-signed with the 76ers on a one-year, minimum-salary deal this summer, especially since the club also added Mohamed Bamba and Filip Petrusev to its frontcourt while retaining restricted free agent Paul Reed.

It’s possible that Harrell anticipated the team’s head coaching change could create an opportunity for more minutes. In his previous five seasons, he had put up 14.5 PPG and 5.9 RPG in 361 games (23.3 MPG), earning Sixth Man of the Year honors in 2020.

Although an ACL tear is an injury that has sidelined a handful of NBA players for a full year – or longer – in recent seasons, Harrell is hoping to return sometime after the All-Star break, according to Charania. That’s an aggressive recovery timeline — we’ll have to wait and see if he can achieve that goal. For what it’s worth, the 76ers will continue to support Harrell in his rehab and recovery plan, Charania adds (via Twitter).

Assuming Harrell goes unclaimed on waivers, which is a safe bet, the veteran forward/center will earn $2,891,467 while Philadelphia carries a dead-money cap hit of $2,019,706. The move clears a path for Petrusev and Danny Green – neither of whom has a fully guaranteed salary – to make the Sixers’ 15-man regular season roster.

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Cole Anthony Signs Three-Year Extension With Magic

October 23rd, 2023 at 3:43pm CST by Luke Adams

3:43pm: Anthony’s extension is official, the Magic announced (Twitter link via Jason Beede of The Orlando Sentinel). Bobby Marks of ESPN shares the structure of the contract, tweeting that it’s technically worth $39.1MM and features a third-year team option.

2:34pm: The flurry of rookie scale extensions ahead of Monday’s deadline continues, according to Adrian Wojnarowski of ESPN (Twitter link), who reports that the Magic and guard Cole Anthony have reached an agreement on a three-year deal. The extension will be worth $39MM, agents Jeff Schwartz and Javon Phillips tell Wojnarowski.

Anthony, the 15th overall pick in the 2020 draft, has spent his first three years in the NBA in Orlando, appearing in 172 total regular season games during that time.

While he started 99 of 112 games in his first two seasons, Anthony came off the bench almost exclusively in 2022/23 and enjoyed his best year in terms of shooting effiency, boosting his rates to a career-best .454/.364/.894. In 60 games (25.9 MPG) last season, he averaged 13.0 PPG, 4.8 RPG, and 3.9 APG.

The Magic project to have a crowded backcourt in 2023/24, with other recent lottery picks like Markelle Fultz, Jalen Suggs, Anthony Black, and Jett Howard all vying for minutes. However, this investment in Anthony suggests Orlando envisions him continuing to play a substantial role in the rotation going forward.

Anthony’s deal is right in the range of the deal signed by another young guard, Coby White, who was a restricted free agent this summer. The Bulls guard received a three-year, $36MM contract that can be worth up to $40MM with incentives. It remains to be seen whether Anthony’s extension features any incentives or options.

Based on the reported terms of Anthony’s deal, Orlando still projects to have at least $30MM in cap room in 2024, notes Yossi Gozlan of HoopsHype (Twitter link).

Anthony is the 12th players to agree to terms on a rookie scale extension so far in 2023, with the deadline just hours away. The previous record for most rookie scale extensions in a single season was 11, set in 2021 and matched in 2022, so that record is on track to be broken today.

The full list of rookie scale extension recipients can be viewed right here, while the remaining candidates are listed here.

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Wizards Sign Deni Avdija To Four-Year Extension

October 23rd, 2023 at 1:37pm CST by Luke Adams

OCTOBER 23: Avdija’s extension is now official, the team announced today in a press release.

“Deni has many of the characteristics that we value in the players who represent our organization. He has a team-first mentality, works hard on his craft, competes with toughness, and is committed to improving the community,” Wizards general manager Will Dawkins said in a statement. “That hard work has resulted in the year-to-year development of his overall game and we’re excited to have him continue that progress as a Wizard.”

OCTOBER 22: The Wizards and forward Deni Avdija have agreed to a contract extension, agents Doug Neustadt and Matan Siman-Tov tell Adrian Wojnarowski of ESPN (Twitter link). According to Wojnarowski (Twitter link), the deal will be worth $55MM over four years and is fully guaranteed.

There are no incentives or options in the deal, adds Josh Robbins of The Athletic (Twitter links).

The No. 9 overall pick in the 2020 draft, Avdija has appeared in 212 games for Washington over the last three seasons, averaging 8.1 points, 5.5 rebounds, and 2.1 assists in 24.8 minutes per game during that time and posting a career shooting line of .431/.310/.734.

Given that his numbers haven’t increased substantially since his rookie year (his .297 3PT% in 2022/23 was a career worst) and the Wizards have overhauled their front office since drafting him, Avdija didn’t look like one of the top candidates to receive a rookie scale extension in 2023. However, he and the team came to an agreement ahead of Monday’s deadline, making him the ninth player to agree to a rookie scale extension so far this year.

Avdija’s new deal is nearly exactly in line with the value of the non-taxpayer mid-level exception. Based on the NBA’s latest cap projection for 2024/25 (a 4.4% increase), a full four-year MLE deal next season would be worth $55.69MM.

When our Rory Maher explored Avdija’s case for an extension back in July, he used the MLE as a point of reference, writing that the forward probably wasn’t in position to get more than the mid-level on the open market.

The contract will cut into Washington’s projected cap room for the 2024 offseason, but the club should still be in position to create at least $22MM in space, and potentially more than that, tweets Yossi Gozlan of HoopsHype.

After missing the first two games of the preseason due to back tightness, Avdija appears good to go for the regular season and may be part of the Wizards’ starting five alongside Tyus Jones, Jordan Poole, Kyle Kuzma, and Daniel Gafford. If the team instead opts to start rookie forward Bilal Coulibaly, Avdija would be one of the first players off the bench.

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Aaron Nesmith Lands Three-Year, $33MM Extension With Pacers

October 23rd, 2023 at 11:24am CST by Arthur Hill

11:24am: Nesmith’s extension is official, the Pacers announced in a press release.

9:33am: The Pacers have agreed to a three-year, $33MM extension with Aaron Nesmith, agent Mike Lindeman tells ESPN’s Adrian Wojnarowski (Twitter link).

The 24-year-old forward thrived in his first season with Indiana, moving into the starting lineup and averaging 10.1 points, 3.8 rebounds and 1.3 assists in 73 games. Today’s extension shows that management considers him part of the team’s young core as it tries to become a playoff contender.

The Pacers acquired Nesmith from Boston last summer as part of the Malcolm Brogdon deal. The Celtics selected him with the 14th pick in the 2020 draft, but he wasn’t able to earn a regular rotation role in his two years with the team.

Nesmith will earn $5,634,257 in the final year of his rookie contract before the extension kicks in next season. Once the deal is finalized, he will be under contract through 2026/27.

Today is the final day for members of the 2020 draft class to sign rookie scale extensions. The deadline is set at 5:00 pm Central time, and you can track them all here.

Nesmith is the 10th player to agree to a rookie scale extension so far this year, as our extension tracker shows.

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Contract, Roster Deadlines Loom For NBA Teams

October 23rd, 2023 at 6:56am CST by Luke Adams

We’re one day away from the start of the NBA’s 2023/24 regular season, making Monday the last day of the 2023 offseason. Today serves as the deadline for a number of contract- and roster-related decisions around the league. Here are the most important ones:

Rookie Scale Extensions

A total of 27 players entered the offseason eligible for rookie scale extensions.

Eight of those players – LaMelo Ball, Anthony Edwards, Tyrese Haliburton, Desmond Bane, Devin Vassell, Isaiah Stewart, Zeke Nnaji, and Payton Pritchard – have already signed new deals, and a ninth (Deni Avdija) has agreed to an extension that will be officially completed today.

That leaves the following 18 players eligible to sign rookie scale extensions on Monday:

The majority of these guys won’t sign new deals until the 2024 offseason, when they’re eligible for restricted free agency. But it would be a surprise if at least a couple more players from this list don’t finalize rookie scale extensions today.

Bey, Green, McDaniels, Okongwu, and Quickley are some of the best candidates. Maxey would be in that group too, but it sounds like the Sixers will wait until 2024 to lock him up in order to maximize their cap flexibility next offseason.

The deadline for rookie scale extensions is at 5:00 pm Central time.

Certain Veteran Contract Extensions

A veteran player who signed his current contract at least two years ago (or three years ago if it was a five-year deal) is eligible to sign an extension. That means many veterans around the NBA are eligible to sign contract extensions today, but that number will significantly drop as of tomorrow.

Once the regular season begins, only veterans in the final year of their contracts can sign extensions — a player who has multiple years remaining is no longer extension-eligible until the following offseason.

[RELATED: Hoops Rumors Glossary: Veteran Contract Extension]

Let’s use the Nets as an example. Ben Simmons, Spencer Dinwiddie, and Royce O’Neale are all eligible for extensions right now, but Dinwiddie and O’Neale are on expiring deals while Simmons is not. That means Dinwiddie and O’Neale will be able to sign extensions anytime between now and June 30, 2024, but Simmons’ eligibility window will close after Monday and won’t reopen until next July.

An extension-eligible veteran who has a player option for 2024/25 could still sign a new deal later in the ’23/24 league year, but he’d have to eliminate that option to do so. Picking up the option would make him ineligible to complete an extension between Tuesday and the start of the ’24/25 league year, since it would turn his contract into a multiyear deal, not an expiring one.

With the help of information from Bobby Marks of ESPN (Insider link), here are the 21 players who have a Monday deadline to sign a veteran extension if they want to lock in a new deal before next July:

A few of these players won’t sign extensions this year because they would qualify for more years and more money if they wait until next offseason.

That group includes Adebayo, Fox, Ingram, and Murray, who each could qualify for a super-max extension with an All-NBA berth (or MVP or Defensive Player of the Year award) in 2023/24. It also includes Tatum, who has already met the performance criteria for a 2024 super-max deal, as well as Antetokounmpo and Mitchell.

The deadline for veteran extensions for players on non-expiring contracts is at 10:59 pm CT tonight.

Regular Season Rosters

Most teams around the NBA finalized their roster cuts on Saturday for financial reasons, as we explained over the weekend. However, today is the official deadline to reduce offseason rosters to the regular season limit of 15 players on standard contracts (plus three on two-way contracts).

While it’s certainly possible there will be some additional roster shuffling today as teams tweak their back-end roster spots or fill two-way openings, only five teams – the Rockets, Sixers, Suns, Spurs, and Wizards – absolutely have to make moves, as we detailed on Sunday.

The Suns are expected to waive Keon Johnson to set their regular season roster, while the Spurs seem likely to convert Charles Bediako‘s Exhibit 10 contract to a two-way deal. Philadelphia has 16 players on standard contracts and will need to make just one cut, while multiple moves will be required for Houston and Washington, who still have 17 players on their standard rosters.

These roster moves are due by 4:00 pm CT.

The final day of the offseason is also the last day for teams to convert Exhibit 10 contracts into two-way deals. Daishen Nix, Justin Minaya, Javonte Smart, Cole Swider, Dexter Dennis, Greg Brown, Marques Bolden, Charlie Brown, Jacob Toppin, and Trevelin Queen were all converted in recent days.

It appears that there are just three remaining candidates to have their Exhibit 10 deals converted to two-ways: Stanley Umude (Pistons), Jeenathan Williams (Rockets), and Bediako (Spurs).

Detroit still has an open spot on its 15-man roster, so the club also has the option of leaving Umude in that spot, converting his Exhibit 10 deal to a minimum-salary standard contract rather than a two-way. As for the Rockets, all three of their two-way slots are full, so they’d have to waive either Trevor Hudgins, Darius Days, or Jermaine Samuels to convert Williams.

Finally, Monday is the last day for a free agent to be signed-and-traded. But there’s zero indication that any sign-and-trades are in the works.

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Spurs Sign Zach Collins To Two-Year Extension

October 22nd, 2023 at 10:35pm CST by Luke Adams

10:35pm: The Spurs have confirmed the extension through a press statement.

12:09pm: The Spurs and big man Zach Collins have agreed to a two-year contract extension that will be worth $35MM, agent Mark Bartelstein tells Adrian Wojnarowski of ESPN. The deal is fully guaranteed, with no second-year player or team option, tweets Kelly Iko of The Athletic.

Collins, who will turn 26 next month, is coming off his healthiest season in four years. Appearing in 63 games (26 starts) for San Antonio in 2022/23, he averaged 11.6 points, 6.4 rebounds, and 2.9 assists in 22.9 minutes per game, posting a solid shooting line of .518/.374/.761.

The 10th overall pick in the 2017 draft, Collins flashed some promise early in his career in Portland, but saw his career derailed by ankle injuries, which limited him to 11 games in 2019/20 and sidelined him for the entire ’20/21 season.

When Collins signed with the Spurs as a free agent in 2021, he received a three-year, $22MM contract, but it was only fully guaranteed for one full season, with a partial guarantee in year two and a non-guaranteed third year. The former Gonzaga standout only played in 28 games in his first season in San Antonio, but ’22/23 was the best season of his career, putting him in position to become part of the team’s future beyond his current contract.

Collins projects to be part of the Spurs’ starting lineup alongside Victor Wembanyama this fall, as the club looks to reduce the wear and tear on its prized rookie by having him play at power forward instead of center.

As Yossi Gozlan of HoopsHype observes (via Twitter), San Antonio initially projected to have upwards of $60MM in cap room in the summer of 2024, but have now dedicated more than half that space to new contracts for Collins and Devin Vassell, who signed a five-year, $135MM rookie scale extension earlier this month.

The exact terms of Collins’ extension aren’t yet known, but it sounds like the Spurs will give him the maximum possible veteran extension for a player earning less than the NBA’s estimated average salary ($11,958,000). The veteran center is eligible to receive a starting salary worth 40% of that figure in his new deal, with an 8% raise in year two — those terms would put him in line to earn approximately $34.82MM on the extension after making $7.7MM in 2023/24.

Collins’ extension will make him ineligible to be traded for six months, Gozlan notes, so the Spurs won’t be able to move him until the 2024 offseason.

ESPN’s Zach Lowe and Bobby Marks suggested on the latest episode of The Lowe Post podcast that a deal for Collins could be imminent. Lowe advised keeping an eye on the Spurs center as a potential veteran extension candidate, and Marks responded by saying he had heard that rumor “multiple times.”

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Zeke Nnaji Gets Four-Year, $32MM Extension From Nuggets

October 22nd, 2023 at 5:03pm CST by Arthur Hill

OCTOBER 22: The signing is now official, per a Denver press release.

OCTOBER 21: Zeke Nnaji has agreed to a four-year, $32MM extension with the Nuggets, agent Adam Pensack tells ESPN’s Adrian Wojnarowski (Twitter link).

The new contract includes a player option for the final season, Wojnarowski adds. Nnaji will earn $4,306,281 this year before the extension begins in 2024/25.

A 22-year-old power forward, Nnaji was selected with the 22nd pick in the 2020 draft. He has become a valuable reserve for the defending champions, averaging 5.2 points and 2.6 rebounds in 53 games last season while shooting 56.1% from the field.

Nnaji was on the court for 13.7 minutes per game in 2022/23, and he’s expected to see more playing time during the upcoming season after the loss of Jeff Green and Thomas Bryant in free agency.

Monday is the last day that teams can sign eligible players to rookie scale extensions. Those who don’t reach new agreements will become restricted free agents next summer.

[RELATED: Players Eligible For Rookie Scale Extensions In 2023]

Nnaji is the eighth player to agree to a rookie scale extension this year, joining LaMelo Ball, Anthony Edwards, Tyrese Haliburton, Desmond Bane, Devin Vassell, Isaiah Stewart, and Payton Pritchard.

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Thunder Waive Jack White

October 22nd, 2023 at 2:57pm CST by Luke Adams

The Thunder have waived forward Jack White in order to get their roster to the regular season limit, the team announced today. Oklahoma City now has 15 players on standard contracts and three on two-way deals.

[RELATED: 2023/24 NBA Roster Counts]

White, 26, went undrafted out of Duke in 2020 and spent the next two years playing in his home country of Australia before coming stateside for the 2022/23 season. He was on a two-way contract with the champion Nuggets for all of last season, though he logged just 66 minutes across 17 regular season games at the NBA level.

White had a far greater role for the Grand Rapids Gold, Denver’s G League affiliate, averaging 19.2 points, 9.4 rebounds, and 1.9 assists in 33.2 minutes per game (26 contests), with a shooting line of .563/.438/.767.

The Nuggets issued White a qualifying offer, making him a restricted free agent, but withdrew it early in free agency, allowing him to sign a two-year, minimum-salary contract with Oklahoma City. Only $600K of that deal was guaranteed, however, making White a logical odd man out when the Thunder faced a roster crunch this month. OKC will remain on the hook for that $600K unless another team claims White off waivers.

Assuming he passes through waivers, White will likely receive interest from teams looking to fill out their two-way contract slots. He won’t be eligible to re-sign on a two-way deal with the Thunder, since his partial guarantee exceeded $75K.

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Nathan Knight Signs Two-Way Deal With Celtics

October 22nd, 2023 at 12:04pm CST by Arthur Hill

12:04pm: The Celtics have officially signed Knight to a two-way contract, the team confirmed in a press release. As expected, Boston waived Scrubb to make room for Knight.

10:45am: The Celtics will sign Nathan Knight to a two-way contract, tweets ESPN’s Adrian Wojnarowski.

The 26-year-old big man was waived by the Knicks on Thursday. He signed a two-way deal with New York in July, but wasn’t able to secure a regular season roster spot.

At 6’10”, Knight will provide another big body for a Celtics team in need of frontcourt depth. He appeared in 38 games with Minnesota last season, averaging 3.7 points and 1.5 rebounds in 7.7 minutes per night. The Timberwolves declined their team option on Knight for the upcoming season and didn’t issue a qualifying offer, making him an unrestricted free agent.

The Celtics currently have all three of their two-way slots filled with JD Davison, Neemias Queta and Jay Scrubb, but Scrubb suffered a torn ACL earlier this month, making him the likeliest release candidate.

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Steven Adams To Miss Entire Season After Knee Surgery

October 22nd, 2023 at 11:37am CST by Arthur Hill

Grizzlies center Steven Adams will undergo season-ending knee surgery, the team announced (via Twitter).

The procedure will address his right posterior cruciate ligament, as “non-operative rehabilitation” failed to fix instability issues in the knee. He’s expected to make a full recovery in time for the 2024/25 season, the team added.

An injury to the knee sidelined Adams in January of last season. He was cleared to take part in training camp and was able to play in two of Memphis’ preseason games, averaging 4.5 points and 5.0 rebounds in 13.6 minutes per night.

According to Damichael Cole of The Commercial Appeal (Twitter link), the Grizzlies considered knee surgery for Adams after the end of last season, but opted to try the non-surgical approach instead. Cole also speculates that Memphis will be in the market for another big man in light of today’s news (Twitter link).

Memphis used Jaren Jackson Jr. at center in a smaller lineups after the loss of Adams last season. The Grizzlies missed Adams’ physical presence in the middle en route to a first-round playoff exit.

The team already has 15 guaranteed contracts, but will begin the season without Adams, Ja Morant, who will serve a 25-game suspension, and Brandon Clarke, who is rehabbing an injury, notes Bobby Marks of ESPN (Twitter link). He points out that Memphis can file for a disabled player exception to replace Adams, which would be valued at $6.3MM, half of his $12.6MM salary. However, the Grizzlies would have to open a roster spot to use it.

Morant can be moved to the suspended list after five games, creating a roster opening, so Memphis may look for another big man rather than a guard to replace Morant. The Grizzlies, who are $17.1MM away from the luxury tax, also have a $12.4MM non-taxpayer mid-level exception, a $7.5MM trade exception and a $4.5MM bi-annual exception available, according to Marks.

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