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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.

Lakers Re-Sign Colin Castleton To Two-Way Contract

July 6th, 2024 at 3:11pm CST by Luke Adams

The Lakers are bringing back center Colin Castleton on a two-way contract, per Michael Scotto of HoopsHype (Twitter link). The signing is official, according to the transaction log at NBA.com.

Castleton, 24, joined the Lakers on a two-way contract last July after going undrafted out of Florida. He logged just 59 total minutes in 16 games with Los Angeles at the NBA level, but had a bigger role in the G League, where he appeared in 24 Showcase Cup and regular season games for the South Bay Lakers. The big man averaged 16.4 points, 10.6 rebounds, 3.2 assists, and 1.6 blocks in 28.8 minutes per game for L.A.’s G League affiliate.

The Lakers issued Castleton a two-way qualifying offer last week, making him a restricted free agent. The move ensured that he couldn’t sign a contract with another team without L.A. having the ability to match it.

With Castleton back under contract, the Lakers now have all three of their two-way contract openings filled, as our tracker shows. Undrafted rookies Blake Hinson and Armel Traore occupy the other two slots.

Patrick Williams Signs Five-Year Deal With Bulls

July 6th, 2024 at 2:19pm CST by Arthur Hill

JULY 6: The Bulls have officially re-signed Williams, the team confirmed today in a press release.

JUNE 29: Free agent forward Patrick Williams will re-sign with the Bulls for $90MM over five years, according to Shams Charania of The Athletic (Twitter link). The fifth season will be a player option, tweets Jamal Collier of ESPN.

Williams, 22, was expected to be a cornerstone of the franchise when Chicago selected him with the fourth pick in the 2020 draft. He hasn’t lived up to that billing due to injuries and inconsistent play, but executive Arturas Karnisovas decided to make keeping him a priority as part of his effort to build a younger and more athletic roster.

Williams received a $12.97MM qualifying offer this week, making him a restricted free agent. That means the Bulls could have matched any offer he received, but they opted to bypass that possibility by negotiating a new deal before free agency begins Sunday evening.

A stress reaction in Williams’ left foot cut short his season and forced him to undergo surgery in February. He averaged 10.0 points, 3.9 rebounds and 1.5 assists in 43 games, but he wasn’t able to play after January 25.

A report this week indicated that the Bulls were optimistic about their chances of working out a new contract with Williams. The Thunder were believed to be among the teams that had interest in pursuing him.

Williams will get a healthy raise after earning $9.8MM this season in the final year of his rookie contract. When he and the Bulls discussed a possible rookie scale extension last fall, the forward turned down a four-year, $64MM offer and was believed to be seeking something closer to De’Andre Hunter‘s contract (four years, $90MM), per K.C. Johnson of NBC Sports Chicago. This new deal represents a compromise for the two sides.

Celtics Sign Baylor Scheierman To Rookie Contract

July 6th, 2024 at 2:16pm CST by Alex Kirschenbaum

The Celtics have officially inked No. 30 draft pick Baylor Scheierman to his rookie deal, according to a team press statement.

The 6’6″ swingman enjoyed a decorated five-year collegiate career, splitting his time between South Dakota State and Creighton.

He was twice named an All-Summit League First-Teamer in 2021 and ’22 while with South Dakota State, where he finished as the Summit League Player of the Year. He blossomed at Creighton. During his two-year tenure there, he was named as an All-Big East First-Teamer and an All-American Third-Teamer in 2024.

In his fifth and final NCAA season, Scheierman posted a college-best average of 18.5 points on a .448/.381/.876 shooting line. He also notched 9.0 rebounds, 3.9 assists, and 0.9 swipes a night.

Now, he’ll be hard-pressed to earn significant run with the reigning champs. Fresh off a 64-18 regular season finish and a 16-3 postseason run to their 18th title, the Celtics have enjoyed an active offseason so far, locking in their various incumbent veterans to defend their title in 2024/25.

Boston already boasts major depth along the wing, but Scheierman could have some value as a catch-and-shoot release valve for the club’s three-point-centric offense. As the final pick of the first round, his contract is expected to be worth about $12.8MM over four years.

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.

Derrick White Signs Four-Year Extension With Celtics

July 6th, 2024 at 1:50pm CST by Arthur Hill

JULY 6: The Celtics have officially signed White to his extension, the team confirmed today in a press release.

“Derrick is a great player who has immersed himself in the Boston community since joining us in the spring of 2021,” president of basketball operations Brad Stevens said in a statement. “Derrick brings a joy and selflessness to our building every single day. He’s committed to improving and has shown that in each year of his career. More importantly, he cares most about the things that matter, including building great relationships and competing with integrity. We are very lucky that Derrick is a Celtic and are thrilled he’ll be here for years to come.”

Boston also formally announced its super-max extension for Tatum.

JULY 1: Derrick White has agreed to a four-year, $125.9MM extension with the Celtics, sources tell ESPN’s Adrian Wojnarowski (Twitter link). The deal includes a player option in the final season, Wojnarowski adds.

The extension will take effect with the 2025/26 season, and White’s yearly salaries will be $28.1MM, $30.3MM, $32.6MM and $34.8MM, per Yossi Gozlan of HoopsHype (Twitter link). It’s the maximum amount White was eligible to get based on his current deal, but he might have landed more if he had waited for free agency next summer.

Signing White to a long-term contract was an offseason priority for the Celtics, who are also hoping to reach extensions with Jayson Tatum and Sam Hauser. Boston is reportedly re-signing Luke Kornet and Neemias Queta, so the core of the championship roster is likely to remain together for a while.

If Tatum agrees to a super-max extension this summer, as expected, Boston could have the most expensive team in league history next season and may top $200MM in salary by 2025/26, notes Bobby Marks of ESPN (Twitter link). Tax penalties are set to increase next year under the new Collective Bargaining Agreement, so management will have to determine how long it’s willing to accept that extra expense.

White, 29, has excelled in Boston since being acquired from San Antonio at the 2022 trade deadline. He averaged 15.2 points, 4.2 rebounds and 5.2 assists in 73 games last season while earning a second-team spot on the All-Defensive team.

White wasn’t a highly touted prospect when the Spurs selected him out of Colorado with the 29th pick in the 2017 draft. He established himself as a starter in San Antonio and is now considered one of the league’s best two-way guards.

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.

Celtics Sign Jayson Tatum To Super-Max Extension

July 6th, 2024 at 12:52pm CST by Luke Adams

JULY 6: The richest contract in NBA history is now official, with the Celtics announcing in a press release that they’ve signed Tatum to his super-max extension.

“Jayson is a special person and player, and it’s been a thrill for all of us to watch his entire journey in Boston,” president of basketball operations Brad Stevens said in a statement. “He has embraced all that comes with being a great Celtic, and shows consistent and genuine care for every one of his teammates, coaches, and staff across the organization. Despite all the team accomplishments and individual awards, Jayson is committed to constantly improving. He works hard and is extremely driven by the challenges of the game – especially the goal of competing with his teammates for championships. We are obviously ecstatic that Jayson chose to extend his contract and add to his amazing career as a Boston Celtic.”

JULY 1: The Celtics and Jayson Tatum have agreed to terms on a five-year, super-max extension that will begin in 2025/26 and will start at 35% of the salary cap, reports Chris Haynes of TNT and Bleacher Report (Twitter link).

Based on the NBA’s latest cap projection, the five-year contract will start at approximately $54.13MM and will be worth a total of $313.93MM, making it the largest deal in league history. It will replace the $37MM player option for 2025/26 from Tatum’s current contract and will run through the ’29/30 season.

Tatum, who won his first championship this spring, earned All-NBA First Team honors for a third straight season after averaging 26.9 points, 8.1 rebounds, and 4.9 assists in 35.7 minutes per game with a .471/.376/.833 shooting line for the league’s top team.

The star forward met the super-max criteria, increasing his maximum salary from 30% of the cap to 35%, by making the All-NBA team in both 2022 and 2023. He needed one more year in the NBA in order to meet the service time criteria of at least seven years, but this move had been expected since last spring once he became eligible.

Tatum’s deal, which can be officially signed as early as July 6, is on track to be completed less than one year after his teammate Jaylen Brown signed a five-year super-max extension of his own. Brown’s deal, which went into effect today and previously held the title of biggest contract in NBA history, is worth approximately $285.4MM.

Having also agreed to a four-year, $125.9MM extension with guard Derrick White earlier today, the Celtics have locked up three of their five starters through at least the 2027/28 season, with a fourth (Jrue Holiday) holding a player option for that year. Boston’s fifth starter (Kristaps Porzingis) is under contract through ’25/26. It projects to be one of the league’s priciest rosters going forward, but the Celtics now have their championship core under team control for the long term.

The Celtics will become one of four teams who have multiple players on maximum-salary contracts that began at 35% of the cap. The Bucks (Giannis Antetokounmpo, Damian Lillard) and Sixers (Joel Embiid, Paul George) will have two apiece, while the Suns (Kevin Durant, Devin Booker, Bradley Beal) are carrying three.