Newsstand Rumors | Hoops Rumors

Cavaliers Sign Evan Mobley To Five-Year Max Extension

July 22nd, 2024 at 6:22pm CST by Arthur Hill

JULY 22: The signing is official, the team announced in a press release.

“We are thrilled to sign Evan to a long-term extension, solidifying his place as a cornerstone of our franchise,” team president Koby Altman said. “Evan has quickly established himself as one of the premier defensive players in the league, and we’ve only scratched the surface of his overall potential. Since drafting him, he only knows winning basketball and has proven to be pivotal to our team’s success. His exceptional work ethic, versatility, and commitment to excellence both on and off the court truly embody what it means to be a Cleveland Cavalier.

“We believe Evan’s best basketball is still ahead of him, and we couldn’t be more excited to continue building something special together for many years to come.”

JULY 20: Evan Mobley has agreed to a five-year, maximum-salary rookie scale extension with the Cavaliers, agents Joe Smith and Thad Foucher of Wasserman Basketball tell ESPN’s Adrian Wojnarowski (Twitter link). The deal includes $224MM in guaranteed money and contains Rose rule language that gives it the potential to be worth up to $269MM, Wojnarowski adds.

The extension will begin with a projected $38,661,750 salary for the 2025/26 season, according to Yossi Gozlan (Twitter link). Mobley’s salary will increase to $41,754,690, $44,847,630, $47,940,570 and $51,033,510 over the following four years while his percentage of the cap declines from 25% at the start to 22.5% in 2029/30.

Gozlan notes that the Cavaliers project to be over the tax threshold for 2025/26, but aren’t currently in danger of crossing into second apron territory.

Mobley has become one of the franchise cornerstones in Cleveland since being selected with the third pick in the 2021 draft. Although injuries limited him to 50 games last season, he scored 15.7 PPG and set career highs by averaging 9.4 rebounds and 3.2 assists while shooting 58% from the field and 37.3% from three-point range.

Mobley will earn $11.2MM for the upcoming season in the final year of his rookie deal.

It’s the second significant signing of the summer for the Cavs, who inked Donovan Mitchell to a three-year extension earlier this month. Cleveland now has about $125MM committed to Mobley, Mitchell and Darius Garland for the 2025/26 season, notes Bobby Marks of ESPN (Twitter link).

Mobley becomes the fourth member of the 2021 draft class to receive a max extension, following Toronto’s Scottie Barnes, Detroit’s Cade Cunningham and Orlando’s Franz Wagner. Teams can sign their 2021 first-round picks to extensions until the day before the start of the regular season. The full list of players eligible for rookie scale deals can be found here.

TNT Sports Submits Matching Paperwork To NBA

July 22nd, 2024 at 3:09pm CST by Luke Adams

TNT Sports issued a statement today confirming that it is making an effort to retain its NBA rights beyond the 2024/25 season by exercising its matching rights (Twitter link). A previous report indicated that Warner Bros. Discovery (TNT’s parent company) intended to match the media rights package that Amazon had negotiated with the league.

“We’re proud of how we have delivered for basketball fans by providing best-in-class coverage throughout our four-decade partnership with the NBA,” TNT’s statement reads. “In an effort to continue our long-standing partnership, during both exclusive and non-exclusive negotiation periods, we acted in good faith to present strong bids that were fair to both parties.

“Regrettably, the league notified us of its intention to accept other offers for the games in our current rights package, leaving us to proceed under the matching rights provision, which is an integral part of our current agreement and the rights we have paid for under it.

“We have reviewed the offers and matched one of them. This will allow fans to keep enjoying our unparalleled coverage, including the best live game productions in the industry and our iconic studio shows and talent, while building on our proven 40-year commitment for many more years.

“Our matching paperwork was submitted to the league today. We look forward to the NBA executing our new contract.”

Despite the confident tone of TNT’s statement, this process won’t be as simple as an NBA team matching an offer sheet on a restricted free agent in order to retain the player.

The league is expected to argue that Warner Bros. Discovery can’t simply match Amazon’s offer due to the differences in the two companies’ distribution methods. Amazon is a streaming giant, whereas TNT is a cable network. While WBD does have a streaming service of its own, that service (Max) reportedly has about half of the subscribers that Amazon Prime Video does.

Amazon’s package of games also isn’t the same as the one TNT is losing. It reportedly includes playoff contests, including one conference final every other year. It also features the in-season tournament (NBA Cup), as well as regular season games on Thursdays, Fridays, and Saturdays. It’s reportedly worth $1.8 billion annually.

There has been speculation that TNT’s decision to match could lead to a lawsuit, a financial settlement for WBD, or possibly a newly negotiated fourth broadcast package.

Amazon is one of the three broadcast partners with whom the NBA negotiated a new media rights deal. The other two are Disney (ESPN/ABC) and NBC. The new deals will begin at the start of the 2025/26 season.

Raptors Buy Out Sasha Vezenkov, Waive Javon Freeman-Liberty

July 22nd, 2024 at 2:27pm CST by Luke Adams

The Raptors have cut a pair of players from their offseason roster, announcing today that forward Sasha Vezenkov and guard Javon Freeman-Liberty have been placed on waivers.

Vezenkov is the more notable name of the two. The 2023 EuroLeague MVP signed a three-year contract with the Kings last summer, but had an underwhelming NBA rookie season, logging just 12.2 minutes per game in 42 appearances off the bench. He averaged 5.4 points and 2.3 rebounds per game with a shooting line of .440/.375/.800.

Vezenkov, who will turn 29 next month, was traded from Sacramento to Toronto in June along with Davion Mitchell in a deal that created additional cap flexibility for the Kings.

Around the time of that trade, reports surfaced indicating that the 6’8″ forward had reached a lucrative long-term agreement to return to Olympiacos, his former team in Greece. However, he remained under contract with the Raptors on a deal that included a guaranteed $6,658,536 salary for 2024/25 (plus a team option for ’25/26).

The Raptors’ release of Vezenkov creates a path for him to rejoin Olympiacos once he clears waivers and also generates significant cap savings for the team. According to Blake Murphy of Sportsnet.ca (Twitter link), Vezenkov gave up his entire $6,658,536 salary for ’24/25 in a buyout agreement in order to facilitate his exit, leaving no dead money on Toronto’s books.

As for Freeman-Liberty, the former DePaul standout spent most of last season on a two-way contract with the Raptors before being promoted to the standard roster on March 1. He appeared in 22 games at the NBA level as a rookie, averaging 7.0 PPG, 3.2 RPG, and 1.8 APG in 18.3 MPG.

Freeman-Liberty’s minimum-salary contract for 2024/25 contained only a small partial guarantee, which would have increased from $100K to $150K if he had remained on the roster through July 23. Toronto will carry $100K in dead money after waiving the 24-year-old.

The Raptors now have 14 players on standard guaranteed contracts and about $11MM in breathing room below the luxury tax line, according to Murphy (Twitter link). Toronto’s newfound financial flexibility gives the front office the ability to spend more than the veteran’s minimum to fill the 15th roster spot or potentially to take on unwanted salary in a trade.

Mavericks, Spencer Dinwiddie Agree To One-Year Deal

July 22nd, 2024 at 12:08pm CST by Luke Adams

Veteran point guard Spencer Dinwiddie is returning to Dallas, having agreed to a one-year contract with the Mavericks, reports Shams Charania of The Athletic (Twitter link).

Dinwiddie, 31, was previously a Maverick from 2022-23 for almost exactly one year. He was traded from Washington to Dallas at the trade deadline in February 2022 as part of the return for Kristaps Porzingis, then was sent to Brooklyn at the 2023 deadline as part of the package for Kyrie Irving.

Dinwiddie played well during his first stint in Dallas, averaging 17.1 points, 4.9 assists, and 3.1 rebounds in 32.3 minutes per game across 76 outings (60 starts). He posted a shooting line of .466/.404/.788 during that time — those field goal and three-point percentages are well above his career marks.

The veteran guard was less effective in 2023/24 across 76 appearances (52 starts) for the Nets and Lakers, posting averages of 10.5 PPG, 4.7 APG, and 2.7 RPG in 28.3 MPG while shooting .392/.337/.805.

The hope is that a return to Dallas will help fuel a bounce-back season for Dinwiddie, who still has a home in Texas and whose partner is from the state, according to Brian Lewis of The New York Post (Twitter link). As Lewis observes, the move also reunites Dinwiddie with Irving — the two guards played together in Brooklyn from 2019-21.

The Mavericks’ interest in Dinwiddie was reported earlier this month by Michael Scotto of HoopsHype and was reiterated over the weekend by Marc Stein.

The terms of the Mavs’ agreement with Dinwiddie have yet to be reported. While Dallas could technically offer more than the veteran’s minimum using the mid-level or bi-annual exception, the team doesn’t have a ton of wiggle room below the first tax apron, so a minimum-salary deal seems more likely.

Assuming Dinwiddie’s salary is fully guaranteed, he’d be the 14th Maverick on a guaranteed contract for 2024/25. A.J. Lawson, the 15th man, has a non-guaranteed deal and would need to be waived in order to make room for the club to re-sign veteran forward Markieff Morris, whose return is considered likely.

LeBron James To Carry U.S. Flag In Olympics Opening Ceremony

July 22nd, 2024 at 7:56am CST by Arthur Hill

LeBron James has been selected to carry the U.S. flag during Friday’s opening ceremony for the Olympics, writes Brian Windhorst 0f ESPN. The Lakers star was chosen in a vote by his fellow Olympians, making him the first male basketball player to ever receive the honor. He will be joined by a female athlete who will be voted on Tuesday.

“It’s an incredible honor to represent the United States on this global stage, especially in a moment that can bring the whole world together,” James said. “For a kid from Akron, this responsibility means everything to not only myself, but to my family, all the kids in my hometown, my teammates, fellow Olympians and so many people across the country with big aspirations. Sports have the power to bring us all together, and I’m proud to be a part of this important moment.”

James and his teammates are currently in London, where they will play their last pre-Olympic exhibition game later today against Germany. Team USA is 4-0 so far, but is coming off a narrow win over South Sudan on Saturday.

James was nominated to be the flag bearer by Stephen Curry, who submitted a video on his behalf, along with USA Basketball. This is the fourth Olympics for James, who won gold medals in 2008 and 2012 and a bronze in 2004.

“We are thrilled to announce LeBron James as one of two flag bearers who will lead Team USA in the Opening Ceremony, and officially open the Paris 2024 Games,” U.S. Olympic and Paralympic Committee CEO Sarah Hirshland said in a statement. “Being selected by your teammates to carry the flag is a tremendous honor — and a testament to LeBron’s passion for Team USA and his dedication to his sport. We will watch with great pride as the flag bearers lead our athletes who are about to embark on a remarkable journey together.”

Dawn Staley in 2004 and Sue Bird in 2020 are the only other American basketball players to ever carry the flag in the Olympics.

Friday’s ceremony will start at 12:30 p.m. Central time (7:30 p.m. in Paris) and will be shown live on NBC.

Bucks Sign Gary Trent Jr.

July 20th, 2024 at 8:15pm CST by Luke Adams

JULY 20: The signing is official, the Bucks announced (via Twitter).

JULY 16: Free agent swingman Gary Trent Jr. has agreed to sign a one-year contract with the Bucks, agents Rich Paul and Lucas Newton tell Adrian Wojnarowski of ESPN (Twitter link). Shams Charania had reported on Monday that Milwaukee was among the contending teams pursuing Trent.

While Wojnarowski doesn’t specify the financial terms, Milwaukee is currently operating over the second tax apron and can only offer a minimum-salary contract to an outside free agent like Trent, so it seems safe to assume the deal won’t be worth more than that.

Trent is a talented scorer and shooter who averaged 16.4 points per game during his three-and-a-half seasons in Toronto and has made 38.6% of his career three-point attempts. He’s not much of a play-maker and is inconsistent defensively, but he’s opportunistic on that end of the court, having averaged 1.5 steals per contest across his past three seasons.

A 25-year-old player with that sort of résumé isn’t typically available for the veteran’s minimum, and reporting as recently as least week indicated Trent was reluctant to settle for an offer in that range, so it represents a coup for the Bucks to get him at that price.

Milwaukee had been in the market for help at shooting guard after losing starter Malik Beasley to Detroit earlier this month. According to Wojnarowski, the Bucks recruited Trent “hard” during his free agency.

Trent earned $18.5MM in 2023/24 and had reportedly hoped to earn a raise as an unrestricted free agent. While the Raptors are said to have a discussed the possibility of a deal in the $15MM range, they never formally put that offer on the table and essentially moved on from Trent in late June after drafting Ja’Kobe Walter, exercising Bruce Brown‘s team option, and taking on salary in a trade with Sacramento, as Josh Lewenberg of TSN.ca tweets.

Once they officially finalize their deal with Trent, the Bucks will have 15 players on standard contracts, including 14 on fully guaranteed salaries and Andre Jackson on a partially guaranteed deal.

The move to Milwaukee will reunite Trent with Bucks point guard Damian Lillard — the two were teammates in Portland from 2018-21.

Jazz Waive Russell Westbrook

July 20th, 2024 at 6:26pm CST by Arthur Hill

The Jazz have officially waived Russell Westbrook, the team announced in a press release. The 35-year-old point guard, who was acquired from the Clippers on Thursday, is expected to join the Nuggets after clearing waivers on Monday.

Westbrook was sent to Utah as part of a sign-and-trade involving free agent guard Kris Dunn, who reached an agreement with L.A. shortly after the start of free agency. The Jazz received a second-r0und pick swap and cash in the deal, which gave the Clippers the ability to remove Westbrook’s salary from their books while offering Dunn a higher salary than they otherwise could’ve.

This is the second time in 17 months that Westbrook has been traded to Utah and then released without playing a game. The Jazz also picked him up from the Lakers in a February 2023 deal before negotiating a buyout that enabled him to join the Clippers.

It’s not clear yet if there was a buyout involved this time or if Utah agreed to pay Westbrook his entire $4MM contract for the upcoming season. He’ll earn about $3.3MM with Denver, which is limited to offering him a veteran’s minimum contract due to apron restrictions.

Westbrook could have tested the free agent market this summer, but he opted to exercise his option and remain in L.A. The Clippers immediately began working with him to find a trade, and the Nuggets, who need a backup point guard after sending Reggie Jackson to Charlotte, quickly emerged as the most likely destination. Adding Westbrook as a free agent simplifies things for Denver, which doesn’t have to worry about matching salaries in a trade.

Westbrook, a nine-time All-Star and former MVP, settled into a bench role in his first full season with the Clippers. He appeared in 68 games and averaged 11.1 points, 5.0 rebounds, 4.5 assists and 1.1 steals on .454/.273/.688 shooting in 22.5 minutes per night.

Grizzlies Trade Ziaire Williams, Second-Rounder To Nets For Diakite

July 19th, 2024 at 1:54pm CST by Rory Maher

1:54pm: The trade is now official, the Grizzlies announced in a press release (Twitter link).

12:25pm: The Grizzlies have agreed to a trade that will send Ziaire Williams and a 2030 second-round pick (via Dallas) to the Nets for Mamadi Diakite and the draft rights to Nemanja Dangubic, sources tell ESPN’s Adrian Wojnarowski.

It’s essentially a salary dump for Memphis, which had been looking to move Williams due to the team’s financial situation. The 22-year-old will earn $6.13MM in 2024/25, which is the final season of his rookie scale contract. The Grizzlies will generate a trade exception worth that amount.

After the transaction is complete, the Grizzlies project to be about $10MM below the luxury tax line and $14MM beneath the first apron, tweets ESPN’s Bobby Marks. The Nets will acquire Williams using one of their outstanding trade exceptions, Marks notes. It’ll likely be the one worth $9.5MM from sending Royce O’Neale to Phoenix in February.

According to Damichael Cole of The Memphis Commercial Appeal (Twitter link), the Grizzlies are likely to use their new cap flexibility to re-sign veteran sharpshooter Luke Kennard, who remains an unrestricted free agent. Wojnarowski confirms Memphis is working to bring back Kennard.

As for the rebuilding Nets, they’ll be taking a low-risk flyer on a former top prospect in Williams, who was selected 10th overall in the 2021 draft. And as a sweetener for taking on his salary, they’ll also add a future second-round pick.

Williams has averaged 7.5 points and 2.6 rebounds per game on .426/.301/.803 shooting over the past three seasons with Memphis (150 games; 20.4 minutes per contest). He’s eligible for a rookie scale extension until the day before the 2024/25 season begins; if no deal is reached, he’ll be eligible for restricted free agency in 2025.

Diakite, a forward/center who was sent from New York to Brooklyn in the Mikal Bridges trade and is now being re-routed to Memphis, could be waived. His salary for next season is only partially guaranteed for $1.39MM, and Cole recently reported that the Grizzlies want to keep an open roster spot entering the regular season; re-adding Kennard and retaining Diakite would push their standard roster count up to 15 players.

Diakite, 27, has bounced around the NBA over the course of his four seasons, suiting up for the Bucks, Thunder, Cavs, Spurs and Knicks. Overall, the Guinea native has appeared in 55 regular season games, with career averages of 3.1 points and 2.3 rebounds in 9.6 minutes.

Magic Sign Cory Joseph

July 19th, 2024 at 1:27pm CST by Luke Adams

July 19: Joseph’s contract is now official, the Magic announced in a press release.

July 17: The Magic and free agent point guard Cory Joseph have agreed to a deal, reports Michael Scotto of HoopsHype (Twitter link). According to Scotto, Joseph’s new contract will cover two seasons.

A first-round pick in 2011, Joseph has spent 13 seasons in the NBA, playing for the Spurs, Raptors, Pacers, Kings, Pistons, and Warriors since entering the league.

The veteran guard, who will turn 33 next month, averaged just 11.4 minutes per contest in 26 appearances for Golden State last season before being dealt to the Pacers in February in a salary-dump trade. He was subsequently waived by Indiana.

Though he wasn’t effective in 2023/24, Joseph has a solid career résumé as a backup point guard. The Canadian has averaged 6.9 points, 3.0 assists, and 2.5 rebounds in 21.7 minutes per game across 816 regular season outings, with a shooting line of .441/.349/.786.

While the exact terms of Joseph’s agreement haven’t been reported, I’d expect it to be a veteran’s minimum deal.

It’s also unclear whether or not the first year will be fully guaranteed. It seems safe to assume that the second year, at least, will be non-guaranteed, as Orlando has made a habit in recent years of tacking on second-year team options for many of its signees — Gary Harris and Moritz Wagner both got them earlier this month.

[Update: Jason Beede of The Orlando Sentinel (Twitter link) confirms that the second year of Joseph’s contract will be a team option.]

The Magic entered the day with 14 players on standard guaranteed contracts for 2024/25, so Joseph looks like the leading candidate to fill the 15th spot on the club’s standard roster for now.

Assuming he makes the regular season roster, Joseph will provide depth and veteran leadership in a young backcourt that includes Jalen Suggs, Cole Anthony, and Anthony Black. It looks increasingly unlikely that former No. 1 overall pick Markelle Fultz is in Orlando’s plans going forward. Fultz remains an unrestricted free agent.

Clippers, Jazz Complete Trade Involving Westbrook, Dunn

July 18th, 2024 at 8:04pm CST by Rory Maher

8:04pm: The trade is official, according to an announcement from the Jazz, who also acquired the draft rights to Balsa Koprivica (the No. 57 pick in 2021) in the deal.

1:33pm: The Clippers are sending Russell Westbrook, a second-round pick swap, and cash to the Jazz in order to acquire free agent guard Kris Dunn via sign-and-trade, sources tell ESPN’s Adrian Wojnarowski (Twitter links). The second-round swap will be for 2030, tweets Tony Jones of The Athletic.

Westbrook is expected to reach a buyout agreement with Utah and eventually sign with the Nuggets once he clears waivers, according to Wojnarowski.

Chris Haynes of Bleacher Report (Twitter link) hears that Dunn will sign a three-year, $17MM contract. The final season of Dunn’s deal with Los Angeles will be a team option, per Woj (Twitter link).

Strangely, this will be the second time that Westbrook will be traded to — and then waived by — Utah in 17 months, with the first instance coming in February 2023. In this case, the Jazz are acquiring a second-round swap and some cash in exchange for using a small chunk of their cap room to take Westbrook’s salary off L.A.’s books.

The 35-year-old will earn a little over $4MM this season, while the minimum salary for a player with his amount of experience will earn about $3.3MM. We’ll have to wait and see how much he gives up in the buyout, but it’s safe to assume he’ll be on a minimum-salary deal with the Nuggets — it’s all they can offer due to their financial situation.

Westbrook exercised his player option this summer but reports came out almost immediately saying the Clips were working with him on a trade. He has essentially only been linked to Denver, which has an opening at backup point guard after salary dumping Reggie Jackson to Charlotte.

Three-time MVP Nikola Jokic is reportedly a fan of Westbrook, who also received an endorsement from veteran center DeAndre Jordan. The nine-time All-Star and former MVP averaged 11.1 points, 5.0 rebounds, 4.5 assists and 1.1 steals on .454/.273/.688 shooting in 68 games with the Clips last season (22.5 minutes per contest).

Haynes reported on July 1 that Dunn would sign with the Clippers, with Jake Fischer of Yahoo Sports later stating that the two sides were working on sign-and-trade scenarios to open a wider salary range for the 30-year-old guard. It took a few weeks, but a deal has finally come to fruition.

The fifth overall pick in the 2016 draft, Dunn didn’t live up to his draft billing in Minnesota or Chicago during the early years of his career, but has evolved into a solid rotation piece in recent years. Dunn spent the past two seasons in Utah, where he provided solid, versatile defense in the Jazz’s backcourt and earned praise from head coach Will Hardy for his voice in the locker room.

In 88 total appearances (35 starts) across two seasons in Utah, Dunn averaged 7.4 points, 4.3 assists, and 3.3 rebounds in 20.6 minutes per game, with a shooting line of .497/.395/.741.