Newsstand Rumors | Hoops Rumors

Junior Bridgeman Purchases 10% Stake In Bucks

September 26th, 2024 at 11:15am CST by Rory Maher

SEPTEMBER 26: Bridgeman has officially become a part-owner of the Bucks, the team confirmed in a press release (Twitter link via Eric Nehm of The Athletic).

“I’m overjoyed to return to the Bucks, where I spent the heart of my NBA playing career, to join their world-class ownership group,” Bridgeman said. “… I hope that my life journey serves as an aspiration to current and future players who dream of joining an NBA ownership group. I look forward to cheering the Bucks on this season alongside our great fans.”

SEPTEMBER 12: Junior Bridgeman, who played 12 NBA seasons from 1975-87, including 10 in Milwaukee, is purchasing a 10% stake in the Bucks, three sources familiar with the deal tell Michael Ozanian and Jessica Golden of CNBC.

According to CNBC’s report, the transaction values the Bucks at $4 billion but Bridgeman is receiving a “preferred limited partner discount” of 15%, or a $3.4 billion valuation. That means Bridgeman will pay approximately $340MM for his minority share.

Bridgeman, who turns 71 years old next week, starred in college at Louisville prior to being selected No. 8 overall in the 1975 draft. The 6’5″ wing averaged 13.6 points, 3.5 rebounds and 2.4 assists while shooting 47.5% from the floor and 84.6% from the line in 849 regular season games with the Bucks and Clippers (25.0 minutes per contest).

In late July, Baxter Holmes of ESPN wrote a feature story on Bridgeman and how he has built his wealth over the years. Bridgeman earned a total of just under $3MM in salaries during his playing career and has been extremely successful as a businessman, with a net worth of nearly $600MM.

As Ozanian and Golden observe, when the Haslam Sports Group purchased its 25% stake in the Bucks in April 2023, the team was valued at $3.2 billion. This new deal — which is the first time a portion of a team has been sold since the media rights agreements were announced — shows the franchise continues to increase in value.

Bridgeman was rumored to be interested in buying a stake in the Bucks back in 2014. His No. 2 jersey was retired by the Bucks in 1988.

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.

Kawhi Leonard Underwent Knee Procedure This Offseason

September 24th, 2024 at 7:25pm CST by Dana Gauruder

Clippers star forward Kawhi Leonard underwent a procedure on his right knee in the offseason, Shams Charania and Law Murray of The Athletic report (Twitter link).

It’s a troubling development as the Clippers head into training camp. Leonard will be limited in training camp, and president of basketball operations Lawrence Frank isn’t sure if Leonard will be ready to play by the season opener. But Frank also indicated during a press conference on Tuesday that he expects Leonard to have a “great year” and that his star forward feels he’s trending in the right direction (Twitter links here).

Leonard was sidelined at the end of the 2023/24 season due to right knee inflammation. He missed the last eight games of the regular season and first game of the playoffs due to the ailment. The 33-year-old returned for Game 2 and Game 3 vs. Dallas, then sat out the final three contests of the Clippers’ first-round loss.

Leonard was on Team USA’s roster but was replaced shortly before the Paris Olympics due to health concerns.

Leonard averaged 23.7 points, 6.1 rebounds and 3.6 assists in 34.3 minutes per game last season. He started 68 regular season games, the most he’s appeared in since he started 74 games for San Antonio in the 2016/17 season. He signed a three-year max extension with the Clippers in January.

Heat Sign Nassir Little To Non-Guaranteed Contract

September 24th, 2024 at 7:24pm CST by Dana Gauruder

SEPTEMBER 24: The Heat have officially signed Little, the team announced today in a press release.

According to Anthony Chiang of The Miami Herald (Twitter link), Little’s one-year contract is fully non-guaranteed.

SEPTEMBER 23: Nassir Little has agreed to a one-year contract with the Heat, NBA insider Chris Haynes tweets.

The free agent forward had worked out for a number of other teams, including the Celtics, Warriors and Kings.

The Heat already have 14 players on fully guaranteed deals, plus others on training camp or non-guaranteed contracts. They have major luxury tax considerations and would surpass the second tax apron threshold by carrying a 15th man, so it remains to be seen what kind of contract Miami offered. It’s likely to be a non-guaranteed or partially guaranteed deal.

Little, 24, has been a free agent since Phoenix waived him late last month. The combo forward appeared in 45 games for the Suns last season, making two starts and posting 3.4 points and 1.7 rebounds in 10.2 minutes per night. The former No. 25 overall pick spent his first four NBA seasons in Portland before coming to Phoenix in a three-team trade last September.

Grizzlies Waive Derrick Rose

September 23rd, 2024 at 5:54pm CST by Dana Gauruder

5:54pm: The Grizzlies have officially waived Rose, according to the NBA’s transactions log.

4:00pm: The Grizzlies plan to waive veteran point guard Derrick Rose, sources tell Shams Charania of The Athletic (Twitter link).

Rose had one year left on the two-year, veteran’s minimum contract he signed with Memphis last offseason.

According to Ian Begley of SNY TV (Twitter link), Rose requested to be released from his contract. Expect the former MVP to provide an update on his status later in the week, Begley adds. It remains to be seen whether Rose is contemplating retirement or seeking out another opportunity.

Rose had been expected to battle for playing time behind starting point guard Ja Morant. Memphis’ decision to waive Rose may signal that it will offer a standard contract to Scotty Pippen Jr., who is currently on a two-way deal. However, the Grizzlies will likely target more depth at that position, according to Damichael Cole of the Memphis Commercial Appeal (Twitter link).

There are some veteran point men still on the free agent market, including Markelle Fultz and Dennis Smith Jr. As our Offseason Check-In displays, the Grizzlies have exceptions available if they choose to use them but would risk surpassing the luxury tax line if they offer anyone more than the veteran’s minimum, assuming Rose didn’t give up any of his salary.

Rose, who turns 36 next month, only appeared in 24 games with the Grizzlies last season, including seven starts. He averaged 8.0 points and 3.3 assists in 16.6 minutes. He battled knee, hamstring, ankle and back ailments last season. He hasn’t appeared in more than 27 games in any of the past three seasons after playing in a combined 50 games with Detroit and New York in 2020/21.

The first overall pick of the 2008 draft, Rose made three All-Star teams before knee injuries plagued his career. He has appeared in 723 regular season games, averaging 17.4 points and 5.2 assists in 30.5 minutes.

Knicks’ Mitchell Robinson Won’t Be Ready For Start Of Season

September 23rd, 2024 at 11:42am CST by Luke Adams

Knicks center Mitchell Robinson won’t be available at the start of the regular season, according to reports from Yaron Weitzman of FOX Sports (Twitter link) and Ian Begley of SNY.tv.

Robinson underwent surgery on his left ankle in May to address a stress injury after having undergone a procedure on the same ankle last December. His recovery is ongoing, and both Weitzman and Begley suggest that the Knicks and Robinson are targeting a return in December or January.

Weitzman’s and Begley’s sources say that New York is proceeding cautiously with Robinson’s recovery process, given the troubles that ankle has given him in the last year, and that the team is confident in the “depth and versatility” of its frontcourt, which will have to get by without the Knicks’ starting center for the first couple months of the season.

The Knicks’ depth at center has already been a source of some concern entering the 2024/25 season, given that the club lost Isaiah Hartenstein in free agency and didn’t add a replacement for the big man. Further complicating matters is the fact that Julius Randle is recovering from a surgery of his own (on his shoulder) and isn’t guaranteed to be available for opening night, though his recovery process is believed to be further along than Robinson’s.

When Randle underwent his shoulder procedure in early April, the team announced that he’d be reevaluated in five months, which would be early September. However, the team hasn’t provided any formal update on the three-time All-Star — that update will likely come on Media Day next week.

Head coach Tom Thibodeau has spoken about the possibility of Randle playing some small-ball center this season, but even if Randle is available by opening night, the team will have to lean more heavily on big men like Jericho Sims and Precious Achiuwa until Robinson is ready to return. It’s also worth noting that Robinson’s unavailability this fall could help give power forward Marcus Morris a leg up on guard Landry Shamet in the battle for the 15th and final spot on the Knicks’ standard roster.

Robinson is an athletic rim-runner and rim protector who holds career averages of 8.0 points, 7.9 rebounds, and 1.9 blocks in 24.5 minutes per game across 320 career outings (196 starts). He has been impacted by injuries in recent years though, as he has missed 125 of 318 total regular season games and 12 of 29 playoff contests since the start of the 2020/21 season.

Jonathan Kuminga Discusses Potential Extension, Desire For Starting Role

September 21st, 2024 at 10:00pm CST by Arthur Hill

As the Warriors look ahead to training camp, Jonathan Kuminga doesn’t have an extension in place or a secure spot in the starting lineup, writes Tim Kawakami of The San Francisco Standard. After displaying signs of stardom over his first three NBA seasons, the 21-year-old is hoping for a breakthrough this year. The contract situation is out of his hands, so he’s focused on proving himself on the court.

“I’m not thinking about that right now,” Kuminga said about earning a starting spot. “But I’m working toward it. The goal is me being a full starter. So I’m not even worried about what’s going to happen, because I know how much work I’ve put in. And I know once I step on that floor, things are going to change.”

Kuminga started 46 of the 74 games he played last season, but he only averaged 26.3 minutes per night. Coach Steve Kerr has been up front with Kuminga about what he needs to do to solidify a starting role, Kawakami adds. That includes making better decisions with the ball, playing at a faster pace, and improving his 32.1% three-point shooting.

Draymond Green is set as the Warriors’ power forward, so Kerr wants Kuminga to adapt his game to become more effective as a small forward.

“I’ve always been a small forward, my whole life,” Kuminga said. “And I don’t have a position at this point, because I feel like … when I go back in the summer, I work on everything. Because I’m a small forward, but I could play any position, so I never just define myself as small forward. I’m definitely confident, and I just can’t wait to go out there and show people what I’ve been working on and stuff. I mean, it’s always my thing to just work on certain things and get better. And I feel like shooting threes, I’ve gotten so much better shooting.”

Kawakami states that the lack of a fully defined role has probably prevented Kuminga from landing a rookie scale extension already. The sides have until October 21 to work out an agreement, but it’s possible the Warriors will wait until next summer and look to re-sign Kuminga as a restricted free agent.

“I haven’t really got into it that much,” he said. “I don’t want to step my foot off track. I’m focusing on how can I be great? How can I help something? The better you play, the more you do things, everything’s going to open up itself. So I’m not worried about things like that because I know who I am, I know myself. At the end of the day, it’s just having an opportunity, a chance to go out there and prove. And just waiting for the moment. It’s God’s plan, so I’m not even tripping or thinking about it day to day. Whenever it happens, it’s going to happen.”

Kuminga added that he would “love to” remain with Golden State long-term if that’s what his future holds. He believes any differences with Kerr were resolved when they met in the middle of last season to discuss Kuminga’s complaints about playing time.

Kuminga is also aware of the offseason trade rumors that had him possibly going to the Clippers as part of a package for Paul George or to the Jazz in exchange for Lauri Markkanen. Kuminga takes the fact that he didn’t get dealt as a sign of confidence from general manager Mike Dunleavy Jr.

“I feel like Mike believes in us,” he said. “There’s not too many people who are going to believe in young players, but I feel like Mike believes in the young guys he drafted, the young guys he’s been around and watched their process, how they’re growing and how they’re going to fit with some of the vets we have. I mean, it’s a blessing to still be here. I’m always thankful to be around and Mike having trust in us.”

Rockets Reach Buyout Agreement With AJ Griffin

September 20th, 2024 at 10:00pm CST by Luke Adams

10:00pm: Griffin has been placed on waivers, according to NBA.com’s official transaction log.

4:28pm: The Rockets have reached a buyout agreement with forward AJ Griffin, reports Jonathan Feigen of The Houston Chronicle (subscription required).

Reporting last week indicated that Griffin was “seriously considering” the possibility of stepping away from basketball and that the Rockets were preparing for his departure from the sport. The buyout agreement between the two sides will allow Griffin to sit out the 2024/25 season while weighing whether or not he wants to continue his career beyond that, a source tells Feigen.

The 16th overall pick of the 2022 draft and the son of longtime NBA assistant and former Bucks head coach Adrian Griffin, AJ Griffin had a promising rookie season with the Hawks, averaging 8.9 points per game with a .465/.390/.894 shooting line in 72 contests (19.5 MPG).

However, he missed time due to leg and ankle issues and personal reasons in 2023/24 and didn’t play much when he was available, averaging just 8.6 minutes per contest in 20 appearances. The former Duke Blue Devil’s scoring numbers cratered to 2.4 PPG on 29.0% shooting, including 25.6% on three-point attempts.

The Rockets attempted to buy low on Griffin earlier this offseason, trading the No. 44 pick to Atlanta in exchange for the 21-year-old. That transaction was eventually turned into a three-team deal that saw Atlanta move up to No. 43, flipping No. 44 and cash to Miami.

The Rockets had reportedly long been interested in Griffin, and in July he expressed excitement about having a fresh start with Houston. But his struggles continued in Summer League, where he shot just 38.2% from the field, including 28.0% from beyond the arc, in a setting where former first-round picks with multiple years of NBA experience typically thrive.

According to Feigen, the buyout agreement between Griffin and the Rockets is worth $250K. It’s unclear whether that means the forward is giving up $250K, slightly reducing his $3.89MM cap hit for 2024/25, or giving up nearly his entire salary and leaving Houston with a cap charge of just $250K. We’ll have to wait for the official details to confirm the specific numbers.

Griffin’s rookie scale contract included a $5.97MM team option for 2025/26. That option will be declined automatically when Houston places him on waivers.

The move opens up a spot on Houston’s projected 15-man regular season roster. The club doesn’t have to carry a 15th man to open the season, but has more than enough breathing room below the luxury tax line to accommodate a minimum-salary signing.

Nets Sign Tyrese Martin, Killian Hayes

September 20th, 2024 at 12:57pm CST by Rory Maher

The Nets have signed free agents Tyrese Martin and Killian Hayes, the team announced (Twitter links).

The seventh overall pick in the 2020 draft, Hayes spent three-and-a-half seasons with the Pistons before being waived in February. Hayes’ agreement with the Nets was first reported in late July. While Hayes is on a non-guaranteed Exhibit 10 contract, he’ll reportedly be given an opportunity to earn a regular season roster spot.

Martin’s agreement with the Nets was not previously reported, but had been speculated after Long Island traded for his returning rights from the Iowa Wolves a couple weeks ago. That indicates that Martin, who played for Brooklyn’s Summer League squad in July, likely signed an Exhibit 10 deal as well.

A 25-year-old wing who started his college career at Rhode Island before finishing at UConn, Martin was the 51st pick of the 2022 draft. He spent his rookie year on a standard deal with the Hawks, but only appeared in 16 regular season games for a total of 66 minutes, having spent most of the campaign in the G League.

Atlanta released Martin last summer, making him a free agent. He signed an Exhibit 10 deal with Minnesota last fall, was waived before 2023/24 began, and spent all of last season with the team’s NBAGL affiliate, the Iowa Wolves. In 39 total games with Iowa (33.5 MPG), Martin averaged 16.8 PPG, 7.6 RPG, 3.2 APG and 0.9 SPG on .447/.331/.831 shooting.

Unlike Hayes, Martin only has one year of NBA service time, making him eligible for a two-way contract. Exhibit 10 deals can be converted to two-way contracts, and Brooklyn has one two-way opening after signing Yongxi Cui.

The Nets now have 19 players under contract, two shy of the offseason limit, with several other reported agreements that have yet to be finalized.

Yongxi Cui Signs Two-Way Deal With Nets

September 20th, 2024 at 11:10am CST by Rory Maher

The Nets are signing Yongxi Cui to a two-way contract, reports Shams Charania of The Athletic (via Twitter). The move is official, the team announced in a press release (Twitter link).

Also known as “Jacky,” Cui is a 6’8″ wing who graduated from the NBA Global Academy and played for the Guangzhou Loong Lions in the Chinese Basketball Association this past season. He went undrafted in June, making him an unrestricted free agent.

The 21-year-old also suited up for China’s World Cup team last summer before posting solid numbers in the CBA in 2023/24 — he averaged 15.8 points, 5.9 rebounds, and 3.1 assists per game in 56 appearances for Guangzhou, with a .520/.365/.783 shooting line.

Earlier this month, it was reported that Cui would be signing a two-way deal with the Nets covering two seasons. Cui worked out for Brooklyn prior to the draft, per NetsDaily, and played for Portland’s Summer League team, seeing limited action in three games.

Cui joins Jaylen Martin as players on two-way deals with the Nets. The team now has one two-way opening.