Newsstand Rumors | Hoops Rumors

Richaun Holmes Declines Option, Signs Extension With Wizards

June 29th, 2024 at 5:45pm CST by Arthur Hill

Richaun Holmes has reached a two-year contract extension with the Wizards after turning down his $12.88MM player option. The move, which was first reported by Shams Charania of The Athletic (Twitter link), is official, per NBA.com’s transactions log.

The new deal for the 30-year-old center is valued at $25.9MM over two years, according to Charania, but it only carries a $250K guarantee on Holmes’ $13.3MM salary for the 2025/26 season. It looks like Holmes will receive roughly (or maybe exactly) the same amount of guaranteed money as if he had exercised his option.

Holmes was acquired at the February trade deadline in the deal that sent Daniel Gafford to Dallas. He appeared in 17 games for Washington, making eight starts and averaging 7.1 points and 6.1 rebounds in 18.7 minutes per night.

The veteran big man is in contention to be the Wizards’ starting center next season and may fill the role until first-round pick Alexandre Sarr is ready to take over. Holmes, a second-round selection by Philadelphia in 2015, he has been with five teams in nine-year NBA career.

Warriors Preparing To Lose Klay Thompson

June 29th, 2024 at 4:58pm CST by Luke Adams

With Klay Thompson just 24 hours away from reaching unrestricted free agency, the Warriors are preparing to lose their longtime sharpshooter and four-time NBA champion, league sources tell Shams Charania and Anthony Slater of The Athletic.

According to Charania and Slater, the Warriors and Thompson haven’t had much contact as of late and the team hasn’t made him a formal contract offer since the exclusive negotiating window opened after the NBA Finals.

The club has expressed interest in circling back to the five-time All-Star after addressing other business, including figuring out what to do with Chris Paul and his non-guaranteed $30MM expiring salary.

However, Thompson’s side believes Golden State’s interest in a reunion has been “disingenuous,” per The Athletic’s duo, who say he “never felt reciprocated love from management about his firm place in the franchise’s plans.”

As a result, the 34-year-old is determined to find a new home, league sources tell Charania and Slater, and both sides believe their 13-year run together is about to come to an end.

The Lakers, Clippers, and Mavericks are expected to be among Thompson’s top suitors, though all three teams project to be over the cap and would have to negotiate a sign-and-trade. Golden State has been open to the idea of accommodating such a deal in order to maximize Thompson’s earning potential, sources tell The Athletic.

Multiple clubs with cap room are expected to be in the mix too, per Charania and Slater. The Sixers and Magic are among the cap-space teams that have been linked to the longtime Warrior in recent days.

Marc Stein, who reported on Friday night that there’s “strong” mutual interest between Thompson and the Mavericks, tweets that LeBron James is hopeful the Lakers can make a bid to challenge Dallas for the veteran swingman. For his part, Thompson is intrigued by the Lakers possibility and plans to talking to both them and the Mavs, among other potential suitors, tweets Broderick Turner of The Los Angeles Times.

Lakers’ LeBron James Opting Out To Become Free Agent

June 29th, 2024 at 4:18pm CST by Tristan Tucker

4:18pm: Confirming James’ opt-out decision, agent Rich Paul tells Dave McMenamin of ESPN (Twitter link) that the star forward is open to discussing a deal worth less than the max if it means adding another impact player.

“He is prioritizing a roster improvement,” Paul said of James. “He’s been adamant about exuding all efforts to improve the roster.”

11:16am: Lakers superstar LeBron James is declining his $51.4MM player option for the 2024/25 season, according to The Athletic’s Shams Charania (Twitter link).

While the move will technically make James a free agent, the expectation is that he’ll return to the Lakers on a new deal, Charania reports. Tim Reynolds of The Associated Press confirms that LeBron plans to seek a new agreement with Los Angeles.

This was the expected move, as we previously relayed. As cap expert Yossi Gozlan observes (Twitter link), James can re-sign with the Lakers for a maximum of $162MM over three years, which would take him through his age-42 season. Additionally, he’s eligible for a no-trade clause.

The Lakers’ team salary would be in first-apron territory if they bring James back at the max. However, he may be willing to be flexible.

Chris Haynes of Bleacher Report (Twitter link) says the four-time MVP would be open to accepting a lower salary to help the club access the full non-taxpayer mid-level exception ($12.9MM) if there’s a target that makes sense. Keith Smith of Spotrac (Twitter link) explores what that math might look like.

The Lakers selected LeBron’s son, Bronny James, with the No. 55 overall pick in the 2024 draft on Thursday. Re-signing with the Lakers would allow for the elder James to play next to his son, something he’s expressed interest in doing in the past.

LeBron has maintained a high level of play even through his age-39 season, averaging 25.7 points, 7.3 rebounds and 8.3 assists while shooting 54.0% from the field and 41.0% from three in 71 games last season. His 71 games played last year represented his highest regular season total since 2017/18 with Cleveland, and LeBron helped push the Lakers to the playoffs, where they fell in five games to the Nuggets.

While the Lakers lost in the first round, they were competitive against the reigning champs, having been outscored by 11 points in the series. With new coach J.J. Redick on board, Los Angeles seems poised to build on its core heading into next year.

LeBron’s spent the last six seasons of his career with Los Angeles, winning a ring in ’19/20 and passing several milestones while donning the purple-and-gold, including becoming the NBA’s all-time leader in points scored.

Grizzlies Decline Luke Kennard’s 2024/25 Team Option

June 29th, 2024 at 4:15pm CST by Luke Adams

The Grizzlies did not exercise Luke Kennard‘s $14.8MM team option for 2024/25 prior to Saturday’s deadline, reports Adrian Wojnarowski of ESPN (Twitter link).

While the move will make Kennard an unrestricted free agent, the two sides are “eager” to discuss a new, restructured deal, according to Wojnarowski.

Kennard was limited to just 39 games (22 starts) this past season for health reasons, including a left knee bone bruise, but was effective when he was available, with averages of 11.0 points, 3.5 assists, and 2.9 rebounds in 25.6 minutes per game.

One of the NBA’s best three-point shooters, the 28-year-old wing has made at least 44.6% of his attempts from beyond the arc in each of the past four seasons, including 45.0% in 2023/24.

A $14.8MM salary isn’t unreasonable for a shooter of that caliber, but the Grizzlies would have been above the first tax apron if they had exercised Kennard’s option. As Bobby Marks of ESPN tweets, team salary is now $8MM below the luxury tax line and $11.5MM below the first apron.

The Grizzlies value Kennard and what he brings to the rotation, according to Damichael Cole of The Memphis Commercial Appeal (Twitter link), so a new deal is possible. However, as Cole notes, the veteran sharpshooter figures to draw interest on the open market.

Heat’s Caleb Martin, Thomas Bryant Opting For Free Agency

June 29th, 2024 at 4:11pm CST by Luke Adams

Heat forward Caleb Martin is turning down his $7.13MM player option for 2024/25 in order to become an unrestricted free agent, reports Michael Scotto of HoopsHype (Twitter link).

Miami big man Thomas Bryant is also declining a player option and opting for unrestricted free agency, according to Anthony Chiang of The Miami Herald (Twitter link). Bryant’s option would have paid him about $2.85MM.

Martin’s decision comes as no surprise. He ranked 23rd on our list of this summer’s top 50 free agents. While his 2023/24 numbers (10.0 PPG, 4.4 RPG, 2.2 APG) don’t jump off the page, he’s the type of connecting piece that every team could use.

The 28-year-old wing can help out in a lot of different ways, including as a shooter (.368 3PT% during his three years in Miami) and switchable defender. He should draw interest from multiple teams willing to offer him more than he would have earned on his option.

Bryant’s decision, meanwhile, could have gone either way. The Heat envisioned him as Bam Adebayo‘s backup at the five when they signed him last summer, but the fit wasn’t as smooth as either side had hoped.

Bryant averaged 5.7 points and 3.7 rebounds in just 11.6 minutes per game across 38 appearances. While he may not receive offers above the minimum on the open market, it makes sense that he’d seek a situation where he might have a larger role.

Of the four Heat veterans who entered the week with player option decisions to make, only Josh Richardson opted in. Martin, Bryant, and Kevin Love all declined their options, though Love, at least, is considered a strong candidate to remain in Miami.

Thunder Declining 2024/25 Options On Joe, Wiggins

June 29th, 2024 at 3:30pm CST by Luke Adams

The Thunder won’t exercise their team options for 2024/25 on wings Isaiah Joe or Aaron Wiggins, reports Shams Charania of The Athletic (Twitter link).

Both options were for very team-friendly rates — Joe’s was worth $2.165MM, while Wiggins’ was for $1.989MM. On the surface, it looks like a surprise that Oklahoma City is turning them down, given that the two players were solid rotation pieces in 2023/24.

However, as Charania notes, the Thunder don’t intend to let either player get away and will work on longer-term deals with both of them.

The thinking is that the Thunder will be able to keep Joe’s and Wiggins’ very small cap holds on the books, use up all of their cap room on other moves, then go over the cap to re-sign the two players to multiyear contracts using their Bird rights (or, in Joe’s case, Early Bird rights).

Joe and Wiggins will be rewarded with raises for the 2024/25 season and may in turn give the Thunder a better long-term rate than they would have if they became free agents a year from now (though that’s not a certainty).

Wiggins can be made a restricted free agent with a qualifying offer, and Michael Scotto of HoopsHype (Twitter link) confirms he has received that offer (worth about $2.4MM). However, Joe has too many years of service to be an RFA, so I’d imagine the Thunder have a pretty good idea of what it will take to re-sign him.

Joe has spent the past two seasons in Oklahoma City after being waived by the Sixers. During that time, he has been one of the team’s most reliable shooters off the bench, averaging 8.8 points per game with a .412 3PT% in 151 outings (11 starts; 18.8 MPG).

Wiggins, the 55th overall pick in the 2021 draft, has been with the Thunder for three seasons, averaging 7.3 PPG, 2.9 RPG, and 1.2 APG in 198 games (53 starts; 18.9 MPG) during that time. His career shooting line is an impressive .514/.394/.780.

Suns, Royce O’Neale Complete Four-Year Deal

June 29th, 2024 at 12:40pm CST by Luke Adams

JULY 6: O’Neale’s new contract with the Suns is official, according to the NBA’s transaction log. It has a base value of $42MM, with an additional $2MM in unlikely incentives, Hoops Rumors has learned.

JUNE 29: Free agent forward Royce O’Neale intends to sign a four-year, $44MM contract to remain with the Suns, according to Adrian Wojnarowski of ESPN (Twitter link).

The deal won’t feature either a team or player option and will be fully guaranteed, reports Zach Lowe of ESPN (Twitter link). It will be the most lucrative contract of O’Neale’s career, topping his previous four-year, $36MM extension that’s about to expire.

The No. 19 player on our list of this year’s top 50 free agents, O’Neale has been a reliable, durable wing since entering the league in 2017, never appearing in fewer than 69 games in a season across stints in Utah, Brooklyn, and Phoenix. The Suns acquired the former Baylor standout from Brooklyn in a three-team deal at February’s trade deadline.

A versatile defender with the size to match up against bigger wings and forwards, O’Neale isn’t much of an offensive threat, having never averaged more than 8.8 points per game in a season. But he’s a solid three-point shooter, with a career rate of 38.1% from beyond the arc, and he has averaged 3.2 assists per game over the past two seasons.

Because Phoenix projects to operate over the second tax apron in 2024/25, the team would have had no means to replace O’Neale or Grayson Allen with an equivalent player in free agency, so there was an expectation that both players would be re-signed. The Suns extended Allen in April and have now reached a deal to retain O’Neale as well.

Since O’Neale was expected to receive interest on the open market from rival suitors, the belief was that Phoenix would have to go up to three or four years to beat out clubs who might offer a higher starting salary. That turned out to be the case, with the Suns making a guaranteed four-year commitment to the 31-year-old.

As cap expert Yossi Gozlan tweets, adding O’Neale’s new deal to the Suns’ books increases their projected team salary for next season to nearly $217MM. The luxury tax line is expected to come in around $171.3MM. There may be more moves to come that push the Suns’ salary in one direction or the other, but based on the current projections – and accounting for tax penalties – it would be the second-most expensive roster in NBA history, says Gozlan.

Hawks’ Saddiq Bey To Become Unrestricted Free Agent

June 29th, 2024 at 12:05pm CST by Luke Adams

The Hawks have decided against tendering forward Saddiq Bey a qualifying offer, according to ESPN’s Adrian Wojnarowski (Twitter link). The move will ensure that Bey becomes an unrestricted free agent rather than a restricted FA.

The 19th overall pick in the 2020 draft, Bey spent his first two-and-a-half seasons with the Pistons before being traded to the Hawks at the 2023 deadline. The 25-year-old has shown promise as a three-and-D wing across his four NBA seasons, averaging 14.1 points, 5.2 rebounds, and 1.8 assists in 30.2 minutes per game across 292 total outings (223 starts).

However, Bey was inconsistent in 2023/24, making a career-low 31.6% of his three-point attempts in 63 games before suffering a left ACL tear in March. Assuming a normal recovery time, that injury is likely to sideline him for a good chunk of the 2024/25 season, if not all of it.

Prior to that knee injury, Bey met the “starter criteria,” increasing the value of his potential qualifying offer from about $6.5MM to $8.49MM.

Given his ongoing injury recovery and the Hawks’ proximity to the tax line, it makes sense that the team would decide against giving Bey that QO, even if it has some interest in retaining him. In a worst-case scenario for the Hawks, he could’ve accepted his QO, earning nearly $8.5MM while spending the 2024/25 season recovering from his torn ACL, then left Atlanta as an unrestricted free agent next summer once he’s healthy.

Celtics Picking Up Sam Hauser’s Option, Will Work On Extension

June 29th, 2024 at 10:54am CST by Tristan Tucker

The Celtics are picking up Sam Hauser‘s team option worth $2.1MM ahead of Saturday’s deadline, The Boston Globe’s Adam Himmelsbach reports.

The move puts Hauser on track for unrestricted free agency in 2025. The Celtics could have made him a restricted free agent this summer by declining his team option.

However, the two sides are expected to begin negotiating a contract extension when the window to do so opens on July 9, according to Himmelsbach. Hauser would remain extension-eligible for the entire 2024/25 league year if he doesn’t agree to a new deal right away.

“I will say we want Hauser to be here for a long time,” president of basketball operations Brad Stevens said this week.

Hauser became a key player for the Celtics off the bench after originally joining the team on a two-way contract in 2021. This past season, he averaged 9.0 points on 42.4% shooting from deep (5.9 attempts) in 79 regular season games. He appeared in 14 playoff games and helped the Celtics win their 18th title.

We’re tracking all of the 2024/25 team option decisions right here.

Heat’s Kevin Love Declining Player Option

June 29th, 2024 at 10:07am CST by Tristan Tucker

Heat forward Kevin Love is turning down his player option for next season, according to ESPN’s Adrian Wojnarowski (Twitter link). Love will become an unrestricted free agent as a result of declining that $4MM option.

Even though Love is declining his option, the two sides are enthusiastic about reaching a new deal in the opening days of free agency, Wojnarowski reports. Love has spent the past season and a half with the Heat after being bought out by the Cavaliers ahead of the 2023 trade deadline.

Love has been one of the more underrated buyout pickups of the last few years, immediately settling into a veteran leader role while averaging 8.5 points and 6.0 rebounds in 76 games with the Heat (22 starts). He was also a big part of Miami’s run to the NBA Finals in 2022/23, averaging 6.9 points and 5.6 rebounds per game while shooting 37.5% from deep (4.4 attempts) in 20 postseason appearances.

Love, 35, is a five-time NBA All-Star and former champion with the Cavaliers in ’15/16. He has played 929 games (684 starts) while holding career averages of 16.5 points and 10.1 rebounds. According to Basketball-Reference.com, Love has a 73.47% chance to be inducted into the Naismith Basketball Hall of Fame.

According to the Miami Herald’s Anthony Chiang, one option could be for Love to re-sign with the Heat at his minimum of about $3.3MM with an additional year attached (Twitter link). That would give the team some extra wiggle room under the second apron to keep some of its own free agents.