Newsstand Rumors | Hoops Rumors

Sixers Sign Caleb Martin, Waive Paul Reed

July 6th, 2024 at 6:28pm CST by Tristan Tucker

7:28pm: Martin has officially signed with the Sixers, the team confirmed in a press release.

“Caleb is a battle-tested performer who has elevated his game when his teams have needed it most,” president of basketball operations Daryl Morey said in a statement. “We’re excited for him to bring his skillset and mentality to the 76ers.”

The Sixers also confirmed in a separate release that they’ve waived Reed.

11:45am: Martin’s deal with the Sixers is indeed guaranteed for roughly $32MM and can reach up to $40MM with bonuses, Scotto clarifies (Twitter link).

9:23am: Free agent forward Caleb Martin is planning to sign with the Sixers, according to ESPN’s Adrian Wojnarowski (Twitter link). In order to help make space for the veteran forward, the 76ers are planning to waive Paul Reed‘s non-guaranteed contract, Wojnarowski reports (Twitter link).

In a follow-up story, Wojnarowski writes that Martin will sign a four-year contract that includes more than $32MM in guaranteed money. Meanwhile, Ira Winderman of the South Florida Sun Sentinel reports Martin’s deal is worth $40MM over four years (Twitter link). We’ll see where the final numbers come in, but it’s possible both reports are accurate — for instance, there might be $32MM+ in guarantees, with additional incentives that could push the overall value higher.

Michael Scotto of HoopsHype adds that Martin’s fourth year will be a player option (Twitter link).

Martin, who will bring extensive playoff experience to Philadelphia, could easily fit the roster off the bench or in the starting lineup at power forward. Over the past three seasons with Miami, Martin has averaged 9.6 points and 4.4 rebounds across 195 games (84 starts).

He was especially critical to the Heat’s run to the NBA Finals in 2022/23, when he averaged 19.3 points on 60.2% shooting from the field and 48.9% from deep in the seven-game Eastern Conference Finals against Boston. He nearly came away with the Conference Finals MVP award for that performance.

As Wojnarowski observes, Martin’s 13.6 points per game against the Celtics for his career (playoffs and regular season) are his most against any Eastern Conference opponent. As the Sixers continue to revamp their roster around superstar Joel Embiid, they’re adding a player who has given the reigning NBA champs problems throughout his career.

Philadelphia’s interest in Martin has been reported multiple times since free agency began. However, those reports suggested he was seeking more than what the Sixers were capable of offering.

The Heat also had interest in bringing back the 28-year-old forward, proposing a four-year extension on top of his $7.1MM player option before he decided to turn down that option. According to Anthony Chiang of the Miami Herald (Twitter link), Miami’s original offer would have been for four years and about $58MM, beginning in 2025/26, for a total of $65MM-ish over five years. However, once Martin declined his option, the Heat could no longer make that offer (they were limited to 8% raises in a free agent contract, rather than the bigger second-year jump they could have included in an extension).

Meanwhile, the Sixers are moving on from Reed, their former No. 58 overall draft pick in 2020. Reed has evolved into a serviceable backup in the frontcourt over the past few seasons. In ’23/24, he averaged 7.3 points, 6.0 rebounds, 0.8 steals and 1.0 blocks, appearing in all 82 of Philadelphia’s regular season games.

However, his $7.7MM contract for next season was fully non-guaranteed, so he was always viewed as a candidate to be traded or released as the 76ers looked to maximize their cap room.

Spurs Trade Graham, Second-Round Pick To Hornets; Graham Waived

July 6th, 2024 at 3:35pm CST by Alex Kirschenbaum

3:35pm: After officially waiving three players to create additional cap room, the Hornets have completed their trade for Graham and New Orleans’ 2025 second-round pick, per a team release. They sent out cash to San Antonio and immediately waived Graham, as expected.

2:26pm: The Hornets will receive New Orleans’ 2025 second-round pick in the deal, while the Spurs receive cash, sources tell Andrew Lopez of ESPN (Twitter link).

12:41pm: The Spurs are trading Devonte’ Graham and a second-round draft pick to the Hornets, one of the veteran guard’s former teams, reports Adrian Wojnarowski of ESPN (Twitter link).

Graham won’t be back in Charlotte for long, though. According to Wojnarowski, the Hornets plan to waive Graham, making him an unrestricted free agent. The guard’s $12.65MM is partially guaranteed for $2.85MM, so Charlotte will have to take his fully salary into its cap room but will only end up on the hook for $2.85MM.

The 6’1″ Kansas alum, 29, played sparingly with the Spurs last season, averaging just 5.0 points per game on a .352/.301/.813 shooting line. He appeared in just 23 contests, logging 13.6 minutes per night.

Graham kicked off his NBA career with the Hornets, for whom he played from 2018-21. He spent 2021/22 and part of ’22/23 with the Pelicans before being traded to San Antonio midway through that season. During his best year, 2019/20, Graham finished fifth in Most Improved Player voting, averaging 18.2 points, 7.5 assists, 3.4 rebounds and 1.0 steals per game.

As cap expert Yossi Gozlan notes (via Twitter), this deal will give San Antonio some additional cap relief — the team now projects to have up to about $19MM in cap space.

As Gozlan notes, the Spurs could theoretically take back the mid-sized contract of a veteran wing like Harrison Barnes or Kevin Huerter to help orchestrate a three-team sign-and-trade with the Bulls and Kings to send All-Star wing DeMar DeRozan to Sacramento. San Antonio likely has something specific up its sleeve that will require a bit of extra breathing room below the cap, since Graham’s $2.85MM partial guarantee was pretty minimal.

The Hornets are reportedly waiving Davis Bertans in order to open up the cap room necessary to take on Graham’s salary.

Wizards Acquire Jonas Valanciunas In Sign-And-Trade

July 6th, 2024 at 3:25pm CST by Rory Maher

JULY 6: The Wizards have officially added Valanciunas, completing the signing via sign-and-trade, the team announced today in a press release.

Washington was able to take on Valanciunas using a $9.8MM trade exception created in last July’s Monte Morris trade, preserving its full $12.9MM mid-level exception.

In exchange for accommodating the Wizards, the Pelicans received the Bulls’ top-50 protected 2027 pick. That pick may not actually convey, but New Orleans will also create a trade exception of its own equivalent to Valanciunas’ outgoing salary, which will be around $9.9MM, per Christian Clark of NOLA.com (Twitter link).

Valanciunas’ contract will be fully guaranteed for the first two years and non-guaranteed in year three, tweets Michael Scotto of HoopsHype.

JUNE 30: The Wizards have found a new starting center, having agreed to terms with Jonas Valanciunas on a three-year, $30MM contract, sources tell Adrian Wojnarowski of ESPN (Twitter link).

According to Josh Robbins of The Athletic, it’s a straight three-year deal, with no player or team option (Twitter link).

Jake Fischer of Yahoo Sports linked Valanciunas to the rebuilding Wizards just before free agency opened. The Lakers were reportedly among the other suitors for the 32-year-old.

As cap expert Yossi Gozlan tweets, Washington has a couple options to complete the move. The most straightforward way would be to use the non-taxpayer mid-level exception. However, the Wizards also have a trade exception that could be used to acquire Valanciunas via sign-and-trade, which could be help the Pelicans — Valanciunas’ former club — find a starting center to replace the veteran big man if the deal is expanded. Either scenario would see the Wizards hard-capped at the first tax apron.

One of the NBA’s best rebounders on a per-minute basis, Valanciunas is a throwback center who primarily operates out of the low post, relying on size and strength rather than agility and athleticism. He has been quite durable over the course of his 12-year career, including playing all 82 games for New Orleans in 2023/24.

Overall, Valanciunas averaged 12.2 PPG, 8.8 RPG and 2.1 APG on .559/.308/.785 shooting in 23.5 MPG last season.

While he has his limitations, primarily on defense, Valanciunas will provide veteran leadership, professionalism, toughness, and production in the middle for a young Wizards team that added its presumptive center of the future (Alex Sarr) on Wednesday with the No. 2 overall pick in the draft.

Pascal Siakam Signs Sign Four-Year Max Deal With Pacers

July 6th, 2024 at 3:20pm CST by Luke Adams

JULY 6: Siakam has officially re-signed with the Pacers, according to the NBA’s transaction log. Assuming Siakam got the full max, as expected, the deal is worth approximately $188.95MM over four years.

JUNE 19: Siakam intends to sign a four-year, maximum-salary contract with the Pacers after the July moratorium ends, according to ESPN’s Adrian Wojnarowski (via Twitter). As outlined below, a four-year max deal would be worth $189.5MM based on the most recent cap projections.

JUNE 18: The Pacers and star forward Pascal Siakam are nearing an agreement on a long-term contract, reports Scott Agness of Fieldhouse Files (Twitter link).

The No. 3 free agent on our top-50 list, Siakam was traded from Toronto to Indiana in January after spending the first seven-and-a-half seasons of his NBA career in Toronto, where he earned two All-Star berths, two All-NBA nods, a Most Improved Player award, and a championship.

In his first 41 regular season games as a Pacer, the 30-year-old averaged 21.3 points, 7.8 rebounds, and 3.7 assists in 31.8 minutes per game with a shooting line of .549/.386/.699. Siakam was Indiana’s leading scorer in both the regular season and the playoffs — he averaged 21.6 PPG on 54.1% shooting in the postseason and helped lead his new club to series victories over Milwaukee and New York, resulting in the franchise’s first appearance in the Eastern Conference finals in 10 years.

The expectation is that Siakam, who is coming off a four-year, maximum-salary rookie scale extension, will once again get the max or something very close to it on his new deal with the Pacers, though no terms have been reported yet. A max contract for Siakam projects to be worth approximately $189.5MM over four years or $245.3MM over five.

The NBA and NBPA agreed to a rule change that goes into effect this offseason, allowing teams to begin negotiating with their own free agents on the day after the end of the NBA Finals instead of on June 30.

Technically, the Pacers were allowed to talk to Siakam even before Tuesday, since he has been extension-eligible since arriving in Indiana. However, a player’s years and dollars in an extension are capped for six months after a trade, so Siakam will likely end up becoming a free agent and then signing a new contract instead of extending his current deal. That means that even if he and Indiana reach an agreement shortly, it’s unlikely to become official until July 6, after the moratorium ends.

With a new deal for Siakam on the books and Tyrese Haliburton‘s own five-year, maximum-salary extension taking effect in 2024/25, the Pacers won’t have any cap room available this offseason, barring cost-cutting moves. They’ll have some breathing room below the luxury tax line for now, but will have a few more contract decisions to make after they work out a deal with Siakam — Obi Toppin will be eligible for restricted free agency, Jalen Smith holds a $5.4MM player option that he may decline, and T.J. McConnell will be extension-eligible beginning in July.

Wizards Waive Landry Shamet

July 6th, 2024 at 2:12pm CST by Alex Kirschenbaum

2:12pm: The Wizards have officially requested waivers on Shamet, the team confirmed in a press release. He’ll clear waivers on Monday, assuming he goes unclaimed.

1:12pm: The Wizards will cut shooting guard Landry Shamet, per ESPN’s Adrian Wojnarowski (Twitter links).

The 6’4″ vet had a $11MM non-guaranteed salary for next season. With that off the table, he’s on track to become an unrestricted free agent, assuming he clears waivers.

Shamet had initially signed a four-season, $42.5MM extension with the Suns in 2021, but only the first two years of that deal were fully guaranteed.

The well-traveled guard was an All-Rookie Teamer in 2018/19 after being selected by the Sixers with the No. 26 pick out of Wichita State.

Beyond the Sixers, Suns, and Wizards, Shamet has also suited up for the Clippers and Nets. Across 46 healthy games with the Wizards last season, he averaged 7.1 points, 1.3 rebounds, 1.2 assists and 0.5 steals in 15.8 minutes per night off the bench.

As a 38.4% long-range sniper on 4.9 three-point attempts per game, Shamet should generate interest once he clears waivers. He is now one of the top veteran free agent backcourt options available on the open market.

Magic’s Franz Wagner Signs Five-Year Max Extension

July 6th, 2024 at 1:52pm CST by Rory Maher

JULY 6: Wagner’s maximum-salary extension is now official, according to a press release from the Magic (Twitter link).

JULY 5: The Magic are signing Franz Wagner to a five-year, maximum-salary rookie scale extension, reports Shams Charania of The Athletic and Stadium (via Twitter). It will be the biggest contract in franchise history.

ESPN’s Adrian Wojnarowski confirms that Wagner’s extension, which will begin in 2025/26, contains Rose rule language. Wagner would need to win MVP, Defensive Player of the Year, or make an All-NBA team in 2024/25 in order to earn a starting salary worth 30% of the ’25/26 salary cap instead of 25%.

Assuming the salary cap rises by 10% in ’25/26, Wagner will earn at least $224MM from 2025-30, with the potential to make about $269MM. ESPN’s Bobby Marks has a year-by-year breakdown of the projected extension (Twitter link).

The No. 8 overall pick of the 2021 draft after two college seasons at Michigan, Wagner has started every game in which he’s appeared for Orlando over his first three NBA seasons. The 22-year-old German posted career highs in several statistics in 2023/24, including points (19.7), rebounds (5.3), assists (3.7) and steals per game (1.1).

In addition to his two-way versatility, the 6’10” forward has been quite durable to this point in his career, only missing 15 of a possible 246 regular season games. Wagner won a gold medal with Germany at last summer’s World Cup and was on the team’s preliminary roster ahead of the 2024 Olympics in Paris, which open in late July. He called the chance to play in the Olympics “a dream come true.”

Wagner is the second player to agree to a rookie scale extension this summer, joining Raptors forward Scottie Barnes, who will also be signing a five-year max deal featuring Rose rule language. Pistons guard Cade Cunningham is also expected to sign a max extension, but the deal has yet to be finalized.

Wagner will earn just over $7MM next season in the final campaign of his rookie scale contract.

DeMar DeRozan To Meet With Kings In Sacramento

July 6th, 2024 at 1:18pm CST by Luke Adams

Free agent forward DeMar DeRozan and his representation are traveling to Sacramento to meet with the Kings, according to reports from Shams Charania of The Athletic and Chris Haynes of TNT and Bleacher Report (Twitter links).

It’s the latest signal that there’s serious mutual interest between DeRozan and the Kings, as multiple recent reports have indicated. James Ham of The Kings Beat (Twitter link) says there’s “positive momentum” between the two sides, with the in-person meeting giving them a chance to potentially seal the deal.

The Kings don’t have the cap room necessary to sign DeRozan, who’s seeking a salary above the full mid-level exception ($12.9MM), but the Bulls are reportedly willing to work with Sacramento or another team on a sign-and-trade deal to get DeRozan a higher salary. Still, Chicago isn’t far below the luxury tax line and doesn’t want to take on much salary in the transaction, so the two teams need a third club to serve as a facilitator and take on a contract or two from the Kings.

Reporting earlier in the day indicated that San Antonio appear to be emerging as that facilitator, and the Spurs‘ trade agreement with the Hornets – in which they’ll move off of Devonte’ Graham‘s $2.85MM partial guarantee – is a signal that they’re opening up cap room for a specific move.

While Harrison Barnes and Kevin Huerter have been mentioned most frequently as trade candidates for the Kings, they’re not the only players who could serve as outgoing salary-matching pieces in a sign-and-trade for DeRozan. A package of Trey Lyles‘ and Chris Duarte‘s expiring contracts could theoretically work, for instance, if DeRozan’s starting salary is in the $20MM range. To accommodate a higher salary, at least one of Barnes or Huerter would likely need to be included.

Of course, even if the Kings, Bulls, and Spurs have an idea of what a three-team trade agreement would look like, Sacramento would still need to secure DeRozan’s commitment, which is presumably the goal of this weekend’s meeting.

NBA’s 2024 July Moratorium Ends

July 6th, 2024 at 11:01am CST by Luke Adams

The NBA’s 2024 July moratorium has officially ended, as of 11:00 am Central time, meaning teams are now allowed to conduct all official business. The moratorium is the period at the start of the NBA league year when teams are permitted to agree to trades and free agent contracts, but can’t yet formally finalize them.

[RELATED: 2024 NBA Free Agent Tracker]

There are a number of types of deals that can be completed during the moratorium, as we’ve seen this week. Teams can sign first- or second-round picks to their rookie contracts, two-way contracts can be made official, and players signing minimum-salary contracts can also finalize those deals. Still, the majority of the deals agreed upon since the end of the NBA Finals are not yet official.

Although the end of the moratorium signals the beginning of official business for many teams, those teams aren’t obligated to immediately finalize deals reached during the moratorium. Salary-cap machinations and intertwined trades mean that patience will be required on certain moves.

The Sixers, for instance, are signing Tyrese Maxey to a five-year, maximum-salary contract, but doing so will increase his cap charge from approximately $13MM (his cap hold) to over $35MM (his new salary). Philadelphia will wait until it has used up all its cap room and then will go over the cap to complete that signing, so as not to unnecessarily sacrifice $22MM in space.

[RELATED: 2024 NBA Offseason Trades]

Now that the moratorium has lifted, we’ll be updating our stories of contract and trade agreements to reflect when they become official.

For top headlines from the last week, like the deals involving Paul George, LeBron James, and other big-name free agents, we’ll bump those stories to the top of the site or publish new stories so you don’t miss news of them becoming official. Completed trades will also be moved to the top of the site.

However, since we don’t want to bury new news amidst confirmation of old signings, our stories on smaller deals won’t be moved to the top of our feed unless there are new developments or details.

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Pacers Sign James Wiseman To Two-Year Contract

July 5th, 2024 at 3:23pm CST by Luke Adams

JULY 5: The Pacers have officially signed Wiseman, according to the NBA’s transaction log.

The fact that the deal is official during the July moratorium is confirmation that it’s a minimum-salary contract. It’s partially guaranteed in year one, with a second-year team option, tweets Tony East of SI.com.

JULY 2: Former No. 2 overall pick James Wiseman is headed to Indiana, according to Adrian Wojnarowski of ESPN, who reports (via Twitter) that the Pacers and the free agent center have reached an agreement on a two-year deal.

Wiseman, 23, was selected by the Warriors one pick after Anthony Edwards and one pick before LaMelo Ball in the 2020 draft. However, he struggled to find his fit on Golden State’s veteran roster, then missed his entire 2021/22 second season due to a knee injury, which slowed his development.

The big man was traded to Detroit midway through his third season in 2023 and has spent the last season-and-a-half with the Pistons. In 2023/24, he appeared in 63 games (six starts), averaging 7.1 points, 5.3 rebounds, and 0.6 blocks in 17.3 minutes per night.

When Wiseman failed to meet the “starter criteria” entering his free agency, the value of his qualifying offer dropped from $15.8MM to about $7.7MM, but the Pistons still opted against tendering him a QO. That gave him the ability to sign with any team as an unrestricted free agent.

Wiseman will join a Pacers team coming off a trip to the Eastern Conference finals. He figures to slot in behind starting center Myles Turner and backup Isaiah Jackson on the depth chart this fall, vying with Jackson for rotation minutes and giving Indiana some additional depth at the five following the departure of Jalen Smith to Chicago.

While Wojnarowski’s report doesn’t provide any details on Wiseman’s salary, a minimum deal seems likely, given the Pacers’ proximity to the luxury tax. Indiana technically has the mid-level and bi-annual exception available, but using the full BAE or a chunk of the MLE would push team salary over the tax line and could create a hard cap at the first apron.

Warriors To Acquire Buddy Hield In Sign-And-Trade With Sixers

July 4th, 2024 at 1:55pm CST by Rory Maher

1:55pm: The Hield acquisition will indeed be part of a five-team mega-trade involving Golden State, Dallas, Charlotte, Minnesota and Philadelphia, sources tell Anthony Slater of The Athletic (Twitter link).

1:19pm: The Warriors are acquiring Buddy Hield in a sign-and-trade with the Sixers, according to Shams Charania of The Athletic and Stadium (Twitter link).

Golden State will be sending Philadelphia a 2031 second-round pick (via Dallas) as part of the transaction, sources tell Charania (Twitter link).

The second-rounder being sent to the 76ers is being acquired as part of the Klay Thompson sign-and-trade with the Mavs. That suggests the series of moves could still be folded together into one multi-team mega-deal.

According to ESPN’s Adrian Wojnarowski (Twitter link), Hield will receive a four-year contract that will pay him a guaranteed $18MM over the first two seasons. The deal will reportedly feature an additional $3MM in guaranteed money, with a fourth-year player option that’s not fully guaranteed. It will start at $8.7MM in year one, per The Athletic, which suggests the total value will be over $37MM, assuming 5% annual raises.

Charania reported on Tuesday night that the Warriors were pursuing Hield, and now a sign-and-trade agreement has come to fruition.

In 2023/24, Hield appeared in a league-high 84 regular season games, exceeding the typical 82-game limit as a result of a midseason trade that sent him from Indiana to Philadelphia. He averaged 12.1 points, 3.2 rebounds, and 2.8 assists in 25.7 minutes per game for the Pacers and Sixers, with a .386 3PT%.

Hield, 31, has never been known for his defense, but he’s a top-tier floor spacer, with a career mark of 40.0% from long distance (on high volume). He ranked No. 24 on our list of 2024’s top 50 free agents.

The Warriors have been very busy this offseason, agreeing to sign De’Anthony Melton to a one-year deal and to acquire both Kyle Anderson and Hield in the wake of Thompson’s departure.

Hield is currently competing for his home country, the Bahamas, in an Olympic qualifying tournament in Spain. If the team wins the tournament (it has already advanced to the semifinal), the Bahamas would advance to the 2024 Olympics in Paris, which begin at the end of July.

Cap expert Yossi Gozlan projects the Warriors, who are hard-capped at the first tax apron, to be right near that salary threshold ($178.1MM) with 14 players under contract (Twitter link).

The Sixers won’t create a trade exception as part of the transaction, since they’re operating under the cap.