Newsstand Rumors | Hoops Rumors

Magic Re-Sign Moritz Wagner

July 2nd, 2024 at 2:05pm CST by Arthur Hill

JULY 6: The Magic confirmed in a press release (Twitter link) that they’ve officially re-signed Wagner. The deal will feature a second-year team option, tweets Michael Scotto of HoopsHype.

JULY 2: Moritz Wagner has agreed to re-sign with the Magic for $22MM over two years, according to ESPN’s Adrian Wojnarowski (Twitter link).

The 27-year-old center became an unrestricted free agent on Sunday after Orlando declined its $8MM team option for next season. The move was made to maximize cap space heading into free agency, but there were multiple reports that Wagner and the team were interested in a new deal.

Wagner appeared in 80 games last season, making just one start, and averaged 10.9 points, 4.3 rebounds and 1.2 assists in 17.7 minutes per night. He shot a career-best 60.1% from the field and 33% from three-point range as Orlando reached the playoffs for the first time in four years.

Wagner was drafted by the Lakers with the 25th pick in 2018 and played for three teams in his first three seasons before signing with the Magic late in the 2020/21 campaign. He has become a valuable reserve on one of the best young teams in the East.

Orlando has been active since the start of free agency, re-signing Goga Bitadze and Gary Harris along with Wagner, and luring Kentavious Caldwell-Pope away from Denver. The Magic still have some leftover cap room, though recent reporting suggested they may be focused on re-signing Joe Ingles and renegotiating Jonathan Isaac‘s contract.

A Closer Look At How Paul George Wound Up In Philadelphia

July 2nd, 2024 at 1:54pm CST by Arthur Hill

Bad weather caused a two-hour flight delay for Sixers owner Josh Harris and franchise legend Julius Erving as they headed to Los Angeles to meet with Paul George on Sunday, writes Ramona Shelburne of ESPN. But they found a pleasant surprise when they arrived, as their No. 1 free agent target showed up wearing a T-shirt featuring another Sixers icon, Allen Iverson.

George’s other options were mostly exhausted by that point, so the late-night meeting was more or less a formality. The Clippers weren’t willing to give him the four-year contract he wanted, and the Magic, who were the other team George agreed to meet with, had already reached an agreement with Kentavious Caldwell-Pope that limited their remaining cap space.

George happily accepted the four-year max offer, giving Sixers brass the player they had been hoping to acquire since James Harden demanded a trade last summer. Sources tell Shelburne that when Clippers executive Lawrence Frank originally called to ask about Harden, Philadelphia president of basketball operations Daryl Morey asked for George in return. Frank wasn’t willing to consider it because L.A. was trying to compete for a title, but the team’s concerns about a long-term stay in the second apron eventually made George available in free agency.

Shelburne hears that after Kawhi Leonard agreed to a three-year, $150MM extension in January — after being eligible for four years at $221MM — there was pressure on George to accept a similar deal. At age 34, George was hoping to maximize what could be his final NBA contract, so he began to consider other options.

Sources tell Shelburne that the Clippers’ offers to George were for less guaranteed money than what Leonard received. She adds that George was aware that other teams were willing to give him a four-year max contract and he was disappointed by the Clippers’ resistance.

Shelburne confirms a weekend report that the Warriors made a serious effort to trade for George on Saturday as the deadline for picking up his $48.8MM option approached. Chris Paul‘s agreement to push back the guarantee date on his $30MM salary for next season was done in case Golden State needed to include all or part of that money in a deal with L.A.

Shelburne’s sources say there were talks at both the ownership and executive levels as the Warriors made numerous offers consisting of expiring contracts, young players and a 2027 first-round pick that would have been unprotected. The Clippers asked for Jonathan Kuminga to be included, but Shelburne hears that Golden State was unwilling to part with the talented young forward because they feared George’s interest in joining the Warriors would dip if they gave up too much to acquire him.

The trade ultimately died because of the Clippers’ reluctance to take back contracts that would push them into the second apron unless the talent level justified it.

Kemba Walker Announces Retirement

July 2nd, 2024 at 1:54pm CST by Luke Adams

Veteran NBA guard Kemba Walker announced today (via Instagram) that he has decided to retire as a professional basketball player.

“I want to start this by thanking God for everything he has given me. Basketball has done more for me than I could’ve ever imagined, and I am super thankful for the amazing journey I’ve had,” Walker said in his announcement. “With that, I’m here to share that I am officially retiring from the game of basketball. This has all been a dream. When I look back, I still can’t believe the things I achieved in my career.

“… Basketball will forever be a part of my life so this isn’t goodbye,” he added. “I’m excited for what’s next.”

The ninth overall pick in the 2011 draft, Walker became the Hornets‘ full-time starting point guard in his second NBA season and maintained that role through the 2018/19 campaign, earning three All-Star berths and averaging 19.8 points, 5.5 assists, and 3.8 rebounds in 34.1 minutes per game across 605 total regular season games during his time in Charlotte.

Walker left the Hornets for the Celtics during the 2019 offseason and made another All-Star game during his first year in Boston. However, knee issues slowed him down well before the expiration of his four-year, maximum-salary contract with the Celtics. He was traded during the 2021 offseason to the Thunder, who bought him out.

Walker subsequently appeared in 37 games with his hometown Knicks in 2021/22 and nine contests with the Mavericks in ’22/23 before playing for AS Monaco in the EuroLeague in his final professional season in ’23/24.

Walker still holds numerous franchise records in Charlotte. He’s the franchise’s all-time leading scorer with over 12,000 points and has more made three-pointers (1,283) than any other player in team history.

The 34-year-old also won an NCAA title with UConn in 2011 and made an All-NBA third team during his last year as a Hornet in 2019.

Magic Re-Sign Gary Harris On Two-Year Contract

July 2nd, 2024 at 1:34pm CST by Dana Gauruder

JULY 6: Harris’ contract is official, the Magic announced today in a press release (Twitter link). The deal is worth $7.5MM annually, with a team option on year two, tweets Michael Scotto of HoopsHype.

JULY 2: Harris’ deal will actually be worth $15MM over two years, a source tells Wojnarowski (Twitter link).

JULY 1: The Magic are re-signing veteran swingman Gary Harris on a two-year, $14MM contract, ESPN’s Adrian Wojnarowski tweets.

Harris’ name had been bandied about as a reasonably-priced free agent option for numerous clubs but he opted for continuity. Harris is taking a pay cut — he made $13MM in each of the last two seasons.

Harris has spent the last three-and-a-half seasons with Orlando after playing six-and-a-half seasons with the Nuggets. The 29-year-old has been a starter most of his career but came off the bench in half of his 54 regular-season appearances last season. He averaged 6.9 points — his lowest output since his rookie season — along with 1.7 rebounds and 1.6 assists in 24 minutes per game.

During his 570-game NBA career, Harris has averaged 11 points, 2.4 rebounds and 1.9 assists. He’s a career 37% 3-point shooter.

He’ll likely slot in as the second-unit shooting guard behind Kentavious Caldwell-Pope, the Magic’s splashy free agent acquisition. KCP agreed to a three-year, $66MM deal to leave Denver.

Latest On DeMar DeRozan

July 2nd, 2024 at 1:19pm CST by Luke Adams

There’s mutual interest between the Heat and free agent forward DeMar DeRozan, a pair of sources with knowledge of the situation tell Barry Jackson and Anthony Chiang of The Miami Herald.

DeRozan is one of the top players left on the marketplace, having come in at No. 6 in our list of top 50 free agents. He led the NBA in total minutes played in 2023/24, averaging 24.0 points, 5.3 assists, and 4.3 rebounds per game with a shooting line of .480/.333/.853.

Despite the mutual interest, there’s not a clear path for Miami to offer DeRozan the sort of contract he’s seeking. As Jackson and Chiang write, the Heat are currently a first-apron team, so the best they could do would be the $5.2MM taxpayer mid-level exception. A sign-and-trade deal isn’t an impossibility, but it would require them to shed salary, since a team that acquires a player via sign-and-trade becomes hard-capped at the first apron, so it could get complicated.

DeRozan isn’t expected to return to the Bulls, but Jackson and Chiang hear that “several” teams remain in play for the six-time All-Star. One of those clubs is the Lakers, as we previously relayed. ESPN’s Adrian Wojnarowski confirmed L.A.’s interest during a SportsCenter appearance on Tuesday (YouTube link), but reiterated that it won’t be easy for the Lakers and other over-the-cap suitors to negotiate a sign-and-trade deal.

“I think there’s interest in DeMar DeRozan, but the kind of contract that he might want just is not going to be available,” Wojnarowski said. “It’s not left out there in the marketplace. The Bulls are more than willing to work on a sign-and-trade agreement to get him the years and money that he might want, but with the new salary cap rules, those are much more difficult for teams to do.

“… In DeMar DeRozan’s case, and it may not be as appealing to him, but it may look like a one-year deal somewhere, let the market reset next year. Because if you do a sign-and-trade, it’s got to be at least three years and now you’re locked into a three-year deal at a number you may not like.”

DeRozan’s free agency this summer is somewhat reminiscent of his 2021 free agency. When he hit the market three years ago, teams like the Lakers and Clippers were viewed as suitors but didn’t have the financial means to make him a competitive offer. It briefly looked like he might accept a discount to return to his hometown, but he ultimately landed with the Bulls on a three-year, $82MM deal via sign-and-trade.

It seems less likely this time around that a suitor will emerge to make DeRozan a huge three-year offer. Still, it’s worth noting that settling for a one-year contract in the hopes of securing a larger payday next summer – as Woj suggests – would be risky move for a player who will turn 35 next month.

Warriors Confirm Thompson Is Leaving, Pledge To Retire His Jersey

July 1st, 2024 at 8:30pm CST by Dana Gauruder

The Warriors organization acknowledged in a press release on Monday that longtime shooting guard Klay Thompson will not return while promising to retire his jersey.

Thompson is headed to the Mavericks in a three-team sign-and-trade deal that will also include the Hornets.

Golden State’s statement reads, in part:

“We can’t overstate Klay Thompson’s incredible and legendary contributions with the Warriors during his 13 years with the team, highlighted by four NBA championships, six trips to the NBA Finals, five NBA All-Star Game appearances and several NBA records, including the most points ever scored in a quarter in NBA history (37) and the most 3-point field goals in a game (14). … Klay’s legacy will live on forever and we look forward to the day we can retire his #11 jersey at Chase Center, where he will join a host of Warriors immortals, including those who helped shape this recent dynasty—himself included.

“We thank Klay for his contributions and wish him the best as another chapter in his journey is written.”

The statement can be somewhat construed as an olive branch after extension talks fizzled and the relationship between the team and the five-time All-Star reportedly grew strained. That led to Saturday’s news that he intended to leave the Warriors for a new team.

Mavericks To Acquire Klay Thompson In Three-Team Sign-And-Trade

July 1st, 2024 at 6:49pm CST by Luke Adams

6:49pm: The Warriors will receive a pair of second-round picks from Dallas to complete the Thompson sign-and-trade, according to reports from Shams Charania of The Athletic and Wojnarowski (Twitter links).

One of those picks will be the Mavs’ own 2031 second-rounder, Woj adds (via Twitter). The other will be the least favorable of the Sixers’ and Nuggets’ 2025 second-rounders, tweets Anthony Slater of The Athletic. That 2025 pick belonged to the Hornets, so it appears one of the second-rounders Charlotte is sending to Dallas is immediately being rerouted to Golden State.

Combining all of today’s reporting, it sounds like the trade will break down as follows:

Mavericks to acquire Thompson (via sign-and-trade) and a future second-round pick (from Hornets).
Hornets to acquire Green (into cap room).
Warriors to acquire either the Nuggets’ or Sixers’ 2025 second-round pick (whichever is least favorable; from Hornets) and the Mavericks’ 2031 second-round pick, in addition to generating a trade exception worth about $16MM.

1:34pm: After spending his first 13 NBA seasons with the Warriors, Klay Thompson is reportedly headed to Dallas. Thompson intends to sign a three-year, $50MM contract with the Mavericks, according to Adrian Wojnarowski of ESPN (Twitter links).

As Wojnarowski outlines, the plan is for the Mavs to acquire Thompson from Golden State in a three-team sign-and-trade, with swingman Josh Green heading from Dallas to the Hornets in the deal.

The Warriors and Mavericks are still working through the sign-and-trade details, according to reports from Chris Haynes of Bleacher Report and Anthony Slater of The Athletic (Twitter links), who both say that the deal isn’t considered done from Golden State’s perspective.

Jake Fischer of Yahoo Sports tweets that there’s a framework in place for a deal sending Green to Charlotte, while Rod Boone of The Charlotte Observer (Twitter link) also hears that the Hornets are in agreement on their part of the deal.

As Marc Stein tweets, it sounds like Thompson, the Mavs, and the Hornets are all on board, with just the Warriors left to sign off. Golden State doesn’t want to take back salary in the transaction, Stein adds.

Wojnarowski reports (via Twitter) that the Hornets will be sending Dallas a pair of second-round picks for Green and that one of those second-rounders may be rerouted to Golden State.

The 11th pick of the 2011 draft, Thompson is one of the most accomplished shooters in league history, ranking sixth all-time in three-pointers made. The 34-year-old, who has knocked down 41.3% of his attempts from long distance over the course of his career, made five All-Star teams and won four championships with the Warriors.

While Thompson has remained an extremely productive rotation player, averaging 17.9 points per game with a .387 3PT% in 77 games (29.7 MPG) this past season, he has lost a step since suffering a torn ACL in 2019 and a torn Achilles in 2020. He was removed from the starting lineup in Golden State this season and his relationship with the franchise appeared to fray leading up to the expiration of his contract, resulting in Saturday’s news that he intended to leave the Warriors for a new team.

Thompson reportedly intended to talk to the Lakers, Clippers, and Sixers in addition to the Mavs when free agency opened on Sunday, with the Magic among the other teams said to have interest in the veteran sharpshooter. According to Wojnarowski (Twitter link), Thompson had four-years offers worth more overall money available, but the opportunity to win another championship and the difference in state taxes were among the factors that made him choose Dallas.

Thompson will give the Mavs another shooter on the wing alongside star guards Luka Doncic and Kyrie Irving. So far this offseason, the team has essentially swapped out three wings – Tim Hardaway, Derrick Jones, and now Green – for three new ones: Thompson, Naji Marshall, and Quentin Grimes.

Assuming the deal is completed as reported, the Mavs’ team salary will be a few million above the tax line and about $3MM below the first apron, which will be their hard cap, per cap experts Bobby Marks of ESPN and Yossi Gozlan (Twitter links).

The Hornets were interested in Green back at the trade deadline when they worked out a separate deal with Dallas involving P.J. Washington, notes Fischer (via Twitter). They’ll get their man now and – based on the details reported so far – figure to operate as an under-the-cap team in order to take the incoming salaries of both Green and Reggie Jackson, whom they’re acquiring in a trade with Denver.

The Warriors, meanwhile, will be in position to create a trade exception worth Thompson’s new salary if they don’t take back any contracts in the deal. With Thompson and Chris Paul off their books for 2024/25, the Dubs have some newfound financial flexibility and appear poised to use their full mid-level exception to sign free agent guard De’Anthony Melton.

Magic Re-Sign Goga Bitadze On Three-Year Deal

July 1st, 2024 at 5:10pm CST by Dana Gauruder

JULY 6: The Magic have officially re-signed Bitadze, the team announced today in a press release.

JULY 1: The Magic have reached a three-year agreement with one of their own free agents, center Goga Bitadze, ESPN’s Adrian Wojnarowski tweets. The contract will be worth $25MM.

Orlando signed Bitadze midway through the 2022/23 season after the Pacers waived the former first-round selection. The Magic then exercised their $2.07MM team option on him last summer.

Bitadze started 33 games last season, appearing in 62, and averaged 5.0 points, 4.6 rebounds, 1.3 assists and 1.2 blocks per contest.

Bitadze has a minimum cap hold that will put the Magic in position to go over the cap to re-sign him with his Early Bird rights, cap expert Yossi Gozlan tweets. That would allow the Magic to preserve their remaining $27MM in cap space and still have the $8MM room exception at their disposal.

The Knicks were viewed as a possible suitor for Bitadze, but reporting earlier today indicated that the Magic were prepared to offer more for him that New York could realistically put on the table.

Bitadze figures to once again back up Wendell Carter Jr. Orlando declined its team option on Moritz Wagner but could still work out another contract with the 27-year-old big man.

Cavs President Believes Mitchell Will Sign Extension

July 1st, 2024 at 4:18pm CST by Dana Gauruder

Cavaliers president of basketball operations Koby Altman expressed optimism that the club will reach an extension agreement with star guard Donovan Mitchell this offseason, Chris Fedor of the Cleveland Plain Dealer reports.

Altman and new head coach Kenny Atkinson visited Mitchell this past weekend in Los Angeles when the guard hosted a summer camp.

“We feel good about Donovan,” Altman said. “He’s in a great space mentally. He’s healthy. He was out there with those young high school players, hooping in a really good space. Really enjoyed the fact that him and Kenny could sit down and talk about the future, talk about the team. He is still under contract right now, so I think we can talk about him as a Cavalier. He’s invested. He’s really invested in what we’re doing, and hopefully soon we’ll have more of a decisive answer on [a contract extension] for you. But he’s been great. He’s been super involved and super collaborative and very, very much pro-Cleveland.”

Mitchell is eligible to sign a four-year, $200MM+ extension as early as Saturday (July 6), when the league’s moratorium ends. A new deal would see the see the 27-year-old decline his $37.1MM player option for 2025/26. He’ll make $35.41MM in ’24/25.

Mitchell’s involvement with the franchise this offseason included his input during the Cavs’ coaching search. He had a conversation with Atkinson and at least one other candidate during the search, according to Fedor. Mitchell endorsed the hiring of the former Warriors assistant.

Atkinson said they connected on a personal level. That’s a key, since Mitchell reportedly was unhappy with former coach J.B. Bickerstaff last season over a number of issues.

“We had a great sitdown,” Atkinson said. “We also have a little bit of East Coast, similar backgrounds. We didn’t grow up far from each other really, if you think about it.”

If Mitchell decides not to sign an extension, Cleveland would look into potential trades, Fedor writes. However, he says all the momentum is headed in the other direction.

Warriors Sign De’Anthony Melton To One-Year Contract

July 1st, 2024 at 2:04pm CST by Rory Maher

JULY 8: Melton has officially signed his contract with the Warriors, the club confirmed today in a press release (Twitter link).

JULY 1: The Warriors are signing free agent guard De’Anthony Melton to a one-year, $12.8MM contract, sources tell Shams Charania of The Athletic and Stadium (Twitter link).

As cap expert Yossi Gozlan observes (via Twitter), Golden State can complete the deal by using either the non-taxpayer mid-level exception or via sign-and-trade. Either scenario will hard-cap the Warriors at the first apron, which is set at $178.1MM in 2024/25.

$12,822,000 is the full value of the non-taxpayer MLE for next season.

According to Anthony Slater of The Athletic (Twitter link), the Warriors have long been fans of Melton and believed he wasn’t optimally utilized when they faced Memphis in the playoffs a couple years ago.

A 6’2″ combo guard with a 6’8″ wingspan, Melton earned $8MM last season in the final campaign of a four-year, $35MM contract that declined over time. He’ll earn a raise next season with Golden State and an opportunity to boost his value ahead of 2025 free agency if he performs well with the Warriors.

Melton has been a valuable role player over the past four seasons, averaging 10.3 PPG, 3.9 RPG, 2.7 APG and 1.5 SPG while shooting 38.3% from three-point range in 240 regular season games over that span (24.5 MPG). The primary reason the 26-year-old only received a one-year deal is he was limited to just 38 games last season with the Sixers due to a back injury, making the signing somewhat risky for Golden State.

Still, if Melton is healthy, he could provide an infusion of youth, defense and athleticism to the Warriors. And his salary is large enough that even though they’ll only have his non-Bird rights a year from now, they could still make him a competitive offer in 2025 free agency, assuming things go well for both sides.

The 46th pick of the 2018 draft, Melton has played for Phoenix, Memphis and Philadelphia over the course of his six NBA seasons.