- The Magic signed Shelvin Mack to a two-year contract worth an even $6MM annually, but only $1MM is guaranteed in year two (Twitter link).
The Magic have waived C.J. Watson, the team confirmed today (Twitter link). Watson will become an unrestricted free agent later this week, assuming he clears waivers.
Per Basketball Insiders’ salary pages, Watson was set to earn $5MM in 2017/18, but only $1MM of that figure was guaranteed. The Magic would have been on the hook for the remaining $4MM if they’d kept the veteran point guard on their roster beyond today, but by cutting him, the team will only have to pay that $1MM — that amount could be stretched across three seasons, if the Magic so choose.
Watson, who has spent the last two seasons in Orlando, has seen his numbers drop off significantly since joining the franchise. In 95 total games with the Magic, the 33-year-old has recorded 4.5 PPG and 2.1 APG with a shooting line of .371/.301/.867. Prior to his time in Orlando, Watson was a .425/.383/.806 shooter for his career.
While Orlando didn’t announce the move until today, the writing was on the wall for Watson’s release when the team agreed to sign Shelvin Mack earlier in the free agent period.
The Magic currently have about $90.7MM in team salary on their books, which doesn’t account for cap holds and exceptions. If they’re operating as an under-the-cap team, the Magic would have about $8MM in space remaining.
We’re only on the 10th day of the NBA league year, but already, the number of teams with cap room still available is dwindling.
Clubs without cap room remaining could create space at some point — the Knicks, for instance, used the last of their cap room to finalize Tim Hardaway‘s offer sheet, but may try to clear salary by trading Carmelo Anthony and/or Courtney Lee. For now though, only a handful of teams have a useful amount of cap space left.
Those teams with cap room are listed below, along with an informal breakdown of what their situation looks like. Many deals haven’t yet been finalized, so these figures our based on our projections, with the help of information from Basketball Insiders and HeatHoops.
Teams with cap room remaining:
- Atlanta Hawks: With agreed-upon deals for Mike Muscala and Tyler Dorsey not yet official, the Hawks retain about $18-19MM in cap room. And that’s not counting whatever amount of money Jamal Crawford was willing to give up in his buyout, so that figure may creep a little higher.
- Brooklyn Nets: The Nets remain in a holding pattern with Otto Porter, but after he officially moves over to the Wizards’ books and Brooklyn completes its trade for DeMarre Carroll, the team should have about $16-17MM in cap room. The Nets could create a little more space by waiving one or more non-guaranteed players.
- Denver Nuggets: Once the Nuggets’ signing of Paul Millsap becomes official, the team won’t have much cap flexibility left, though that could change if Mike Miller is waived and/or Mason Plumlee is renounced. If both of those players remain on the cap, Denver will only have about $2MM in room. If they move on from both players, the Nuggets could get up to about $11MM+ in space.
- Indiana Pacers: Assuming the Pacers stretch Monta Ellis‘ salary, as has been reported, they should have in the neighborhood of $7-8MM in remaining cap room, even after finalizing the acquisitions of Darren Collison, Bojan Bogdanovic, and Cory Joseph.
- Los Angeles Lakers: The Lakers have approximately $17MM in cap room left, though they’d have to renounce their remaining unrestricted free agents to make use of all that space.
- Orlando Magic: The Magic could have retained their exceptions and cap holds and stayed over the cap, but it looks like they’re operating under the cap, signing Shelvin Mack with room instead of the mid-level exception. Orlando doesn’t have much space available, but could get up to $8MM+ in room by waiving C.J. Watson, and could increase that number a little more by cutting other non-guaranteed players.
- Philadelphia 76ers: The Sixers’ remaining cap room will depend on the exact numbers for J.J. Redick and Amir Johnson, but it figures to be in the neighborhood of $16-17MM.
- Phoenix Suns: Alex Len‘s $12MM+ cap hold is a significant factor in the Suns’ remaining cap room. If they were to renounce Len, the Suns could get up to about $23MM in room, with the ability to create even more by waiving non-guaranteed contracts. However, if they keep Len on the books, Phoenix’s cap room is below $11MM, and will be reduced further when Alan Williams‘ new deal becomes official.
- Sacramento Kings: Deals for George Hill, Zach Randolph, Vince Carter, and Bogdan Bogdanovic will use up most of the Kings’ space, but the team should still have room in the $8-10MM range after those signings become official.
Teams that went under the cap, but have used all (or virtually all) of their room:
- Boston Celtics
- Miami Heat
- Minnesota Timberwolves
- New York Knicks
These teams went below the cap this summer to accommodate big-money moves. In some cases, those deals aren’t yet official, but when they’re finalized, they’ll eliminate any cap room these teams have left. A couple of these clubs have already committed their room exception to certain players, with the Celtics on track to sign Aron Baynes and the Wolves lining up a deal with Jamal Crawford.
Teams that are operating over the cap, but could create some cap room:
- Chicago Bulls
- Dallas Mavericks
- Utah Jazz
These teams are currently operating as over-the-cap clubs in order to retain their full mid-level, bi-annual, and trade exceptions, but there could be scenarios in which it makes more sense to renounce those exceptions and dip below the cap.
In the Bulls’ and Mavs’ cases, it would likely only happen if they don’t retain top RFAs (Nikola Mirotic and Nerlens Noel, respectively). Meanwhile, the Jazz could only create up to about $12MM in room if they were to waive their non-guaranteed contracts and wait to sign Joe Ingles.
Note: Items on Indiana Pacers and Orlando Magic were edited after publication to adjust figures.
JULY 9, 12:22: The deal is official, according to a tweet from the Magic.
JULY 7, 6:51pm: The Magic are finalizing a deal with free agent guard Shelvin Mack, Adrian Wojnarowski of ESPN tweets. The two-year pact is said to be worth $12MM, at an even $6MM per year (according to Tony Jones of the Salt Lake Tribune).
In 55 games for the Jazz last season, Mack posted 7.8 points per game, a far cry from the 12.7 he put up in ten extra minutes the year prior.
Over the course of a six-year career, Mack has established himself as a solid backup guard capable of playing both the one and the two. In Orlando he’ll fit in well behind Elfrid Payton, perhaps sharing spot starter duties with D.J. Augustin.
The move could signal that C.J. Watson, the team’s other point guard option, could be waived in the coming days. Watson’s deal isn’t guaranteed for 2017/18 if Orlando waives him prior to July 10, as is laid out in our official NBA Salary Guarantee Dates list.
The Wizards will use their mid-level exception instead of their bi-annual exception to sign Jodie Meeks, tweets Tim Bontemps of The Washington Post. The change was made to avoid being hard-capped by the expected re-signing of Otto Porter. Meeks will still receive $7MM over two seasons; the money will just come from a different source (Twitter link). The Wizards still haven’t received the Nets’ offer sheet for Porter, adds J. Michael of CSNMidAtlantic (Twitter link).
There’s more from the Southeast Division:
- The Clippers, Warriors, Hawks, Sixers and Pacers all remain in the market for Heat back-up center Willie Reed, tweets David Aldridge of TNT. Miami also hopes to re-sign him.
- The Magic’s new management team is taking a cautious attitude toward rebuilding, relays Josh Robbins of The Orlando Sentinel. Orlando has been quiet during the first week of free agency, despite coming off a 29-53 season and having up to $15.1MM available to spend. “There’s a lot less money in the free-agent market this year than there was last year,” said Jeff Weltman, the team’s new president of basketball operations. “And so, the approach that we’ve taken is to kind of wait and see how some of that shakes out towards the next phase of free agency and see which players we may be able to get into discussions with at that point. But we’ve been touching base with a lot of guys and just kind of gauging the market.”
- The Hornets have promoted Buzz Peterson to assistant GM, the team announced on its website. A former standout at North Carolina and a head coach at five colleges, Peterson had been serving as the Hornets’ senior advisor to basketball operations. “He brings a wide breadth of basketball knowledge to the position, having been involved in the game at various levels for close to three decades,” said Charlotte GM Rich Cho. “I’m excited to be working more closely with Buzz in his new role and look forward to his continued contributions to our basketball team.”
The Magic have parted ways with the 41st overall pick from last year’s draft, according to Josh Robbins of The Orlando Sentinel, who tweets that the team has waived second-year center Stephen Zimmerman.
Zimmerman, 20, saw limited action during his rookie season in Orlando, averaging 1.2 PPG and 1.8 RPG in 19 games (5.7 MPG) for the club. The former UNLV big man had a more extensive role in 21 games for the Erie BayHawks, averaging 13.4 PPG and 8.9 RPG in the G League.
While teams are often inclined to stick with second-round projects for longer than just one year, the Magic are under new management this offseason, having hired Jeff Weltman and John Hammond to replace Rob Hennigan in the front office, so the new group didn’t have any particular attachment to Zimmerman.
Zimmerman’s contract also forced the team to make a decision on him this week — his minimum salary for 2017/18 was set to become fully guaranteed if he wasn’t cut by the end of the July moratorium. The Magic won’t be on the hook for any of that money now that they’ve waived him.
The Kings’ decision to use a major part of their cap space on George Hill and Zach Randolph leaves the Nets as the most significant threat for Wizards RFA Otto Porter, tweets David Aldridge of TNT. Porter met with the Kings on Sunday and reportedly received a max offer, but didn’t sign it, wanting to talk to other teams first. Sacramento’s moves today means it no longer has room for a max deal unless it unloads some other salary. The Wizards can match any offer sheet that Porter brings to them, and have stated that they plan to do so.
There’s more from the Southeast Division:
- The Wizards plan to explore sign-and-trade options for Bojan Bogdanovic, according to J. Michael of CSNMidAtlantic. Bogdanovic appears to be on the way out after this week’s deals with Jodie Meeks and Mike Scott, but Washington won’t revoke his $4.7MM qualifying offer, hoping to deal him and create a traded player exception. Bogdanovic is reportedly seeking about $16MM per year, which seems unrealistic. Michael notes that the Wizards have made use of TPEs in the recent years, picking up Jared Dudley, Kris Humphries and Tim Frazier.
- The Magic will hold first-round pick Jonathan Isaac out of the final two games of the Orlando Pro Summer League after he suffered a hip strain Monday, relays John Denton of NBA.com. Tests didn’t reveal any structural damage and the injury isn’t considered serious, but the Magic are keeping him sidelined as a precaution.
- In a move to free up cap space, the Magic have reached an agreement with 2005 first-rounder Fran Vazquez that he won’t play in the NBA this season, tweets Keith Smith of Real GM. Orlando still owns the rights for the 34-year-old, and the move takes away his cap hold for the upcoming season.
- The Heat are expected to end their seven-year relationship with Chris Bosh this week, according to Barry Jackson of The Miami Herald. Miami will erase Bosh’s $52.1MM from its cap under a medical retirement in the wake of recurring blood clots. Bosh must be given 48 hours to clear waivers before the move becomes official, and it will push the Heat’s cap space from $9MM to more than $34MM this year.
After J.J. Redick announced an agreement with the Sixers this afternoon, the Nets are turning their sights toward a trio of restricted free agents, reports Brian Lewis of The New York Post.
Armed with $28.5MM in cap space, Brooklyn will consider Wizards forward Otto Porter, Pistons shooting guard Kentavious Caldwell-Pope and Jazz forward Joe Ingles. Any offer sheet the Nets submit to any of them can be matched by their current team, but that won’t deter Brooklyn GM Sean Marks.
“We have an analytic value,” he said. “We have a scouting value placed on these players, and if we feel comfortable with an offer to these players, whether restricted or unrestricted, we’ll make those deals. But we’re not going to go chase things.”
The Nets submitted sizable offer sheets to Portland’s Allen Crabbe and Miami’s Tyler Johnson last summer and to Houston’s Donatas Motiejunas in December. All three were matched, leaving the Nets empty-handed.
There are questions about the availability of this year’s targets as well. The Wizards have vowed to match any offer that Porter brings them. However, Washington’s attempt to re-sign him in late-night negotiations ended without a contract, and there are reports that Brooklyn would be willing to offer $106MM over four years, starting at $24.75MM for 2017/18. Porter is expected to hold several meetings with several teams starting Sunday.
The Pistons have also stated that they plan to keep Caldwell-Pope, but their signing today of Langston Galloway and the drafting of Luke Kennard indicates that a backup plan is being formed in case Caldwell-Pope becomes too expensive.
The Nets have arranged a meeting with Ingles, although Lewis sees him as a secondary option in case the attempt at Porter is unsuccessful. The Washington Post is reporting that Ingles may have a four-year, $60MM offer from the Magic, but Josh Robbins of The Orlando Sentinel says the team’s interest in Ingles is being overstated (Twitter link).
Unrestricted free agent Nick Young plans to “meet with a bunch of teams” this weekend after a number of undisclosed franchises expressed interest when free agency began on Friday, league sources tell Mark Medina of The Los Angeles Daily News. Despite the Lakers being among those contacting Young’s representatives, both the team and player have conflicting agendas that suggest that this may be the end of their four-year tenure together, Medina adds.
Young, 32, is hoping to maximize his earnings on a multi-year contract for a playoff team, but the Lakers want to sign players to one-year deals to save cap space for the 2018 offseason when LeBron James, Paul George and Russell Westbrook might be available, the scribe notes.
Here’s more from around the NBA:
- Pacers free agent C.J. Miles may have to wait for J.J. Redick to sign an agreement before his market comes into focus, Tim MacMahon of ESPN relays (ESPN Now link). Miles is Plan B for multiple teams who have made Redick a priority, the scribe adds. The Thunder are one of the teams that have expressed interest in the 30-year-old, per a tweet from Yahoo’s Jordan Schultz.
- With Otto Porter having completed his meeting with the Wizards, the team is now in a holding pattern as it awaits the forward to seek offer sheets on the open market, Tim Bontemps of The Washington Post relays (via Twitter). The Nets are potentially one team who appear willing to offer the max of four years and $100MM. Philadelphia may also get involved in the bidding, but the Sixers reportedly seem reluctant to make long-term offers. Washington has promised to match any offer for the restricted free agent.
- Despite the significant bump in player salaries the new CBA has ushered in, not all players are satisfied with the league capping their earnings. LeBron James, responding to a tweet noting how the value of the Warriors has increased from $450MM to upwards of $2.6 billion since Joe Lacob purchased the franchise, noted that Stephen Curry should have gotten a pact worth $400MM over five years this summer (Twitter link). James has a vested interest, of course, with him in line to hit free agency once again next summer.
- There is a possibility that the Celtics may be willing to facilitate a sign-and-trade deal for unrestricted free agent Amir Johnson, Adam Himmelsbach of The Boston Globe relays (on Twitter). The forward is reportedly garnering significant interest around the league.
- The Magic‘s reported interest in free agent forward Joe Ingles has been “wildly overstated,” per Josh Robbins of The Orlando Sentinel (Twitter link). It was relayed Friday night that Orlando was set to offer Ingles a four-year deal in the $60MM range.
The Magic announced today that the club has signed first-round pick Jonathan Isaac. According to Josh Robbins of the Orlando Sentinel, the sixth overall pick in this year’s draft is set to make $4,186,320 next season, which is 120% rookie-scale contract figure. As our chart of rookie scale salaries shows, Isaac’s rookie deal will be a four-year pact worth $22,324,406.
Isaac’s salary for the first two seasons will be guaranteed and after two team options for the 2019/20 and 2020/21 seasons, he’ll be eligible to reach restricted free agency in 2021 barring an extension.
Earlier today, the Heat agreed to terms with first-rounder Bam Adebayo. As we noted in that story, with cap holds on unsigned first-rounders at 120% rather than 100% under the new CBA, teams will likely sign their picks sooner rather than later.