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Celtics’ Ownership Group To Put Team Up For Sale

July 1st, 2024 at 12:37pm CST by Rory Maher

12:37pm: The Celtics confirmed in a press release that the majority ownership group plans to sell of its shares in the team (Twitter link via Chris Forsberg of NBC Sports Boston).

“The controlling family of the ownership group, after considerable thought and internal discussion, has decided to sell the team for estate and family planning considerations. The managing board of the ownership group expects to sell a majority interest in 2024 or early 2025, with the balance closing in 2028, and expects Wyc Grousbeck to remain as the Governor of the team until the second closing in 2028.”

12:13pm: On the heels of their record-setting 18th NBA championship, the Celtics will be hitting the market, according to ESPN’s Adrian Wojnarowski of ESPN (Twitter link). Sources tell Wojnarowski that the team’s majority ownership group, led by Wyc Grousbeck, intends to make the franchise available for sale.

Grousbeck has been the team’s Governor since his Boston Basketball Partners group purchased the Celtics for $360MM back in 2002. Boston has won two NBA titles under his stewardship, in 2008 and just a few weeks ago.

A source tells Adam Himmelsbach of The Boston Globe that while Grousbeck is selling his stake in the Celtics, other minority shareholders are expected to remain invested in the team (Twitter link).

As ESPN’s Bobby Marks tweets, the Celtics could be the most expensive team in NBA history in 2025/26, when a potential super-max extension for Jayson Tatum kicks in. Grousbeck will be looking to sell his stake just as severe roster-building restrictions are implemented in the new CBA.

As of December, Sportico had the Celtics ranked as the fourth-most valuable franchise in the NBA, with a valuation of $5.12 billion. That figure seems likely to have risen in the past eight months, given the team’s on-court success.

Grousbeck, 63, is a Massachusetts native who has built his wealth through various investments over the past few decades. His father, Irving, is a billionaire who co-founded Continental Cablevision.

Bucks Sign Delon Wright To One-Year Deal

July 1st, 2024 at 11:28am CST by Luke Adams

JULY 7: Wright has officially signed with the Bucks, according to the NBA’s transaction log.

JULY 1: The Bucks and free agent guard Delon Wright have agreed to a one-year contract, sources tell Adrian Wojnarowski of ESPN (Twitter link).

Wojnarowski pegs the value of the deal at $3.3MM. As a second-apron team, Milwaukee has no access to the mid-level or bi-annual exception and can only offer veteran-minimum contracts to outside free agents. Since Wright has nine years of NBA experience, his contract figures to actually be right around $3MM, as our breakdown of this year’s minimum salaries shows.

Wright, 32, has played for eight teams across his nine NBA seasons, including the Wizards and Heat in 2023/24. He averaged 4.5 points, 2.5 assists, and 1.8 rebounds in 15.8 minutes per game across 47 total appearances for the two clubs last season, then took on an increased role in the postseason for Miami, averaging 8.0 PPG, 3.0 RPG, and 1.8 APG in 26.8 MPG while making 6-of-10 three-pointers.

While Wright is a solid ball-handler and will make the occasional outside shot (.354 career 3PT% on 1.9 attempts per game), his value stems more from his play on the other side of the ball. His size and length are above average for a guard, and he’s comfortable switching and defending multiple positions.

While there’s no confirmation yet that Patrick Beverley won’t be back with the Bucks, Wright could end up playing a similar role to the one Beverley did, providing the team with a defensive-minded backup for Damian Lillard at the point.

FA/Trade Rumors: Lakers, Klay, Mavs, DeRozan, Markkanen, Bey, Bullock

July 1st, 2024 at 11:05am CST by Luke Adams

LeBron James and agent Rich Paul talked to the Lakers last week and conveyed that the star forward would be willing to accept a pay cut in 2024/25 in the event that the team was able to land one of the players on a “short list” of free agent targets, ESPN’s Brian Windhorst confirmed on Monday’s Hoop Collective podcast (YouTube link).

Previous reporting identified three of those possible Lakers targets as James Harden, Klay Thompson, and Jonas Valanciunas. Of the three, only Thompson is still on the board after Harden reached a deal to re-sign with the Clippers and Valanciunas agreed to terms with the Wizards, and ESPN’s Adrian Wojnarowski said on SportsCenter on Sunday night (YouTube link) that James called Thompson right when free agency opened.

The Mavericks continue to be considered a strong contender for Thompson, but would have to negotiate a sign-and-trade agreement with the Warriors in order to acquire him into the $16MM+ trade exception they’re creating in the Tim Hardaway Jr. deal. According to Ian Begley of SNY.tv (Twitter video link), a third team may be needed in that scenario to take on an outgoing player from Dallas. While Begley doesn’t mention any specific names, that outgoing Mavs player would almost certainly be either Josh Green or Maxi Kleber.

Even if Thompson ends up in Dallas, the Lakers may still have other names on that “short list” of targets that the team discussed with James, per Windhorst.

“I think there’s more than three,” Windhorst said on the Hoop Collective podcast. “I think DeMar DeRozan is on that list as well, and there may be another one or so.”

Here are a few more trade and free agency rumors from around the NBA:

During that same episode of the Hoop Collective podcast (YouTube link), Windhorst suggested that teams who have talked to the Jazz believe Lauri Markkanen could be had for the right price. According to Windhorst, the Warriors are “definitely investigating” Markkanen and the Spurs may also be among the teams with interest. “The teams who are negotiating with the Jazz do think there’s a good chance they’re going to move him,” Windhorst said (hat tip to RealGM). “Sometimes, (Jazz CEO) Danny Ainge will act like he’s going to do a trade and then there’s no trade. Maybe that will happen again here. But the teams negotiating think (he’s available).”
Despite not tendering him a qualifying offer to make him a restricted free agent, the Hawks remain in discussions with forward Saddiq Bey, according to Brad Rowland of Locked on Hawks and Lauren L. Williams of The Atlanta Journal-Constitution (Twitter links). Bey will likely miss most or all of next season due to a torn ACL, so if Atlanta wants to keep him, it makes more sense to discuss a longer-term deal without the risk that the 25-year-old will accept his one-year, $8.5MM QO.
Free agent wing Reggie Bullock has met with the Suns, Nuggets, Clippers, and Sixers so far in free agency, according to Kelly Iko of The Athletic (Twitter link), who says the veteran swingman is expected to talk to more teams in the coming days. Bullock’s market figures to be for the vet minimum.

Blazers Re-Sign Justin Minaya To Two-Way Contract

July 1st, 2024 at 9:49am CST by Luke Adams

Justin Minaya, who spent last season in Portland on a two-way contract, is returning to the Trail Blazers on a new two-way deal, reports Adrian Wojnarowski of ESPN (Twitter link). The deal is official, according to NBA.com’s transaction log.

Minaya, 25, appeared in 34 games for the Blazers last season, but played a very limited role. He averaged 1.8 points and 1.6 rebounds in 11.2 minutes per contest, shooting just 29.7% from the field and 24.5% from beyond the three-point line.

The 6’5″ forward, known more as a defender than a scorer, was more effective in the G League for the Rip City Remix, appearing in 20 Showcase Cup and regular season games and averaging 13.7 PPG, 6.4 RPG, 4.0 APG, and 1.5 SPG with a .438/.336/.606 shooting line.

The Blazers didn’t issue Minaya a qualifying offer prior to Saturday’s deadline, but evidently still want him in the organization going forward. He’ll fill one of Portland’s three two-way slots, and Sean Highkin of Rose Garden Report (Twitter link) says he wouldn’t be surprised if big man Ibou Badji ends up filling one of the other two-way openings.

Tobias Harris Signs Two-Year Deal With Pistons

July 1st, 2024 at 9:21am CST by Arthur Hill

JULY 8: Harris has officially signed his contract with the Pistons, per the NBA’s transaction log.

JULY 1: The Pistons have reached a two-year, $52MM agreement with free agent forward Tobias Harris, sources tell ESPN’s Adrian Wojnarowski (Twitter link). There are no options on either side, according to James L. Edwards III of The Athletic (Twitter link).

Harris, 31, ranked 16th on our list of the top 50 free agents this summer. He can play either forward spot and will bring much-needed shooting to Detroit, along with a veteran presence for a young locker room.

Harris was a reliable scorer and valuable all-around player during his five-plus years in Philadelphia. He averaged 17.2 points, 6.5 rebounds and 3.1 assists this season with a shooting line of .487/.353/.878.

The move marks a return to Detroit for Harris, who played for the Pistons from February of 2016 to January of 2018. He was well-traveled before landing with the Sixers, being drafted by the Charlotte Bobcats in 2011 and spending time with four other franchises in his first eight years in the league.

This is the first signing for a Detroit team that headed into free agency with more than $58MM in cap room, and it’s the first major roster addition under new head of basketball operations Trajan Langdon.

The Pistons project to have roughly $26.5MM remaining, estimates Yossi Gozlan of HoopsHype (via Twitter), factoring in a cap hold for Simone Fontecchio. They hold Early Bird rights on the 28-year-old small forward and can offer him a new deal worth up to $58MM over four years.

Langdon appeared on the verge of making another significant move on Sunday night, as the Pistons reportedly neared a max extension with Cade Cunningham, the top pick in the 2021 draft.

Jalen Smith Signs Three-Year Contract With Bulls

July 1st, 2024 at 8:31am CST by Arthur Hill

JULY 8: The signing is official, according to a team press release.

JULY 1: Free agent center Jalen Smith will join the Bulls on a three-year, $27MM contract, sources tell ESPN’s Adrian Wojnarowski (Twitter link).

Smith became an unrestricted free agent on Friday by declining his $5.42MM player option for next season. The 24-year-old, who ranked 44th on our list of the top 50 free agents, winds up with a nice raise and a longer deal in Chicago.

Smith is expected to be the Bulls‘ new backup center after Andre Drummond agreed to terms with Philadelphia on Sunday night. With no available cap space, Chicago will likely sign Smith with a portion of its $12.8MM non-taxpayer mid-level exception. Whether they use the MLE or acquire him via sign-and-trade, the Bulls will be hard-capped at the first tax apron of $178,132,000.

After being selected by Phoenix with the 10th pick in the 2020 draft, Smith was sent to Indiana at the 2022 trade deadline. He became a valuable backup in two-and-a-half years with the Pacers and played rotation minutes as the team reached the Eastern Conference Finals.

He averaged 9.9 points, 5.5 rebounds and 1.0 assists in 61 games this season while shooting 59.2% from the floor and 42.4% from three-point range.

The addition of Smith is one of several recent moves the Bulls have made to create a younger, more athletic roster and become less reliant on veterans. They traded for Josh Giddey last week and agreed to terms on a new five-year deal with free agent Patrick Williams over the weekend.

Aaron Wiggins Signs Five-Year Deal With Thunder

July 1st, 2024 at 8:21am CST by Arthur Hill

JULY 7: Wiggins has officially signed the contract, Joel Lorenzi of Oklahoma Sports tweets.

JULY 1: Aaron Wiggins will return to the Thunder on a five-year, $47MM contract, sources tell Shams Charania of The Athletic (Twitter link).

The 25-year-old shooting guard became a restricted free agent on Saturday after Oklahoma City declined his $1.989MM option for next season and tendered him a qualifying offer.

That move was a prelude to a long-term deal. Wiggins has become a valuable rotation member during his three years with the team, and the Thunder wanted to lock him down for the future.

The No. 39 player on our list of this summer’s top 50 free agents, Wiggins appeared in 78 games last season, making four starts and averaging 6.9 points, 2.4 rebounds and 1.1 assists in 15.7 minutes per night. He also posted .562/.492/.789 shooting splits as OKC tied for the best record in the West at 57-25.

Wiggins was selected with the 55th pick in the 2021 draft after three seasons at Maryland. He turned out to be a bargain on his original four-year, $6.4MM deal, so the team decided to reward him and make sure he’s part of what appears to be a very bright future in Oklahoma City.

Oklahoma City also agreed to re-sign Isaiah Joe to a long-term deal after declining his option on Saturday. The Thunder will be able to keep both Wiggins’ and Joe’s modest cap holds on their books while using up their cap room, then go over the cap to re-sign them.

Thunder Sign Isaiah Joe To Four-Year Contract

July 1st, 2024 at 8:14am CST by Luke Adams

JULY 7: The deal is now official, per a team press statement.

JULY 1: The Thunder and swingman Isaiah Joe have agreed to terms on a new four-year contract, according to Shams Charania of The Athletic, who reports (via Twitter) that the deal will be worth $48MM.

Joe has spent the past two seasons in Oklahoma City after being waived by the Sixers in 2022. During that time, he has been one of the Thunder’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).

The Thunder held an extremely team-friendly option on Joe for the 2024/25 season. However, the club opted to decline that $2.165MM option in order to sign the sharpshooter to a longer-term contract.

While Oklahoma City could have exercised the option and then negotiated an extension with Joe, turning down the option – which technically allowed him to become an unrestricted free agent – ensured that he’ll receive a raise in ’24/25 and won’t compromise the Thunder’s offseason cap room. They can keep his minimum-salary cap hold on the books until they’ve used all that room, then go over the cap using his Early Bird rights to officially re-sign him to his new deal.

The maximum amount the Thunder could have given Joe on an Early Bird contract was about $58.2MM over four years, so this deal will come in a little lower than that.

The Thunder took a similar route with another rotation player, Aaron Wiggins, declining his minimum-salary team option for 2024/25, making him a restricted free agent, and agreeing to terms with him on a new five-year, $47MM deal.

Joe was the No. 23 free agent on our top-50 list.

Checking In On Where Things Stand In NBA Free Agency

July 1st, 2024 at 7:41am CST by Luke Adams

The first official day of NBA free agency on June 30 was certainly busy, but it wasn’t quite as hectic as usual. There are a few factors believed to be playing a part in the slower pace, including:

The new exclusive negotiating window open to team between the end of the NBA Finals and June 30 allowed several free agents to reach deals with their own teams ahead of the official start of free agency. Pascal Siakam (Pacers), OG Anunoby (Knicks), Immanuel Quickley (Raptors), and Nic Claxton (Nets) were among the notable players to line up massive paydays prior to June 30.
The NBA has made cracking down on tampering a priority, threatening significant penalties not just to teams but to agents who make free agent deals too early. That may be why it took an hour after free agency opened on Sunday evening to get our first report of a player switching teams (Andre Drummond to Philadelphia).
Teams are navigating a challenging new Collective Bargaining Agreement that has more ways than ever for a club to become hard-capped, ranging from sending out cash in a trade (hard-capped at the second apron) to using a trade exception generated before the offseason began (hard-capped at the first apron).
As teams grapple with those CBA changes, the salary cap increase for 2024/25 was just 3.36%, giving high-salary teams less wiggle room following increases of 10% in both 2022 and 2023.

While we didn’t get quite as much action on day one as expected, there were still a good deal of notable headlines, including Paul George‘s decision to leave the Clippers for the Sixers. George’s move prompted L.A. to put out a lengthy statement explaining why the star forward wouldn’t be back, which is – if not an entirely unprecedented move – a rarity.

Besides agreeing to terms with George, Philadelphia also reached deals with Andre Drummond, Kelly Oubre, and Eric Gordon during the early part of free agency, taking advantage of the fact that it’s one of the few contending teams with cap room this offseason.

The other Eastern Conference playoff team with cap room, the Magic, made one of the day’s biggest moves by agreeing to terms on a three-year deal with Kentavious Caldwell-Pope, adding a talented three-and-D wing with championship experience to a young roster that struggled to make outside shots last season.

While they lost George, the Clippers did reach a new two-year deal with James Harden and are bringing in at least two outside free agents, striking agreements with swingman Derrick Jones and guard Kevin Porter.

Jones’ free agency was a curious one, since he agreed to terms with the Clippers just a couple hours after the Mavericks agreed to sign Naji Marshall to a pretty similar deal. Dallas head of basketball operations Nico Harrison referred last month to re-signing Jones as the team’s “priority 1A and 1B,” and while his 11th-hour agent change complicated his free agency to some extent, it was still surprising to see him leave Dallas for a contract they seemingly could’ve afforded. We’ll see if more details on those negotiations surface in the coming days.

Elsewhere in free agency, the Celtics made deals to bring back a pair of reserve centers in Luke Kornet and Neemias Queta; the Heat reached a two-year agreement with Kevin Love; the Wizards lined up a new starting center by agreeing to a three-year contract with Jonas Valanciunas; and the Suns replaced outgoing reserve center Drew Eubanks by making a deal with veteran big man Mason Plumlee.

One of the day’s most interesting developments occurred on the Chris Paul front, where the Warriors decided to waive the veteran point guard after not finding a suitable trade for his expiring $30MM non-guaranteed contract. Paul had only been on waivers for a few hours when word broke that he had reached an agreement to sign with the Spurs upon reaching free agency. Within the last few years, Paul has helped young teams in both Oklahoma City and Phoenix exceed expectations. His impact on Victor Wembanyama and the Spurs will be a fun storyline to follow in 2024/25.

Restricted free agents Max Christie (Lakers) and Obi Toppin (Pacers) each reached four-year deals with their own teams on Sunday afternoon before free agency officially began, while the Pistons appear on track to keep Cade Cunningham out of 2025 restricted free agency by signing him to a lucrative new five-year extension. That deal’s not done yet, but it sounds like it’ll cross the finish line soon.

As our list of free agents shows, there are still plenty of intriguing names out there. While LeBron James is considered highly likely to return to the Lakers and Tyrese Maxey is a lock to stick with the Sixers, the futures of other top-15 free agents like DeMar DeRozan, Miles Bridges, Isaiah Hartenstein, and Klay Thompson remain less certain.

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Sixers Re-Sign Kelly Oubre On Two-Year Contract

July 1st, 2024 at 12:51am CST by Luke Adams

JULY 7: The signing is official, according to a team press release.

“Kelly was one of our most important contributors last season, bringing physicality, energy, and toughness to the table on a nightly basis,” top executive Daryl Morey said. “We’re excited to have him back and believe he’ll play a key role in our pursuit of a championship.”

JULY 1: Kelly Oubre is returning to Philadelphia, according to Adrian Wojnarowski of ESPN, who reports (via Twitter) that the free agent forward is in agreement with the Sixers on a new two-year, $16.3MM deal. The contract will include a second-year player option, Wojnarowski adds.

After averaging 20.3 points per game with the Hornets in 2022/23, Oubre accepted a one-year, minimum-salary contract with Philadelphia last summer and played a significant role for the club this past season, averaging 15.4 PPG, 5.0 RPG, and 1.5 APG in 68 games.

An athletic, versatile defender with good size, Oubre made 52 starts and averaged 30.2 minutes per night, logging more total minutes in ’23/24 than any Sixer besides Tyrese Maxey and Tobias Harris. He came in at No. 31 on our list of this year’s top 50 free agents.

The terms of Oubre’s new deal suggest he’ll be re-signed using Philadelphia’s room exception once the team has used up its cap space. As we outlined earlier, based on the $140.59MM salary cap for 2024/25, that exception for cap-room teams will start at just under $8MM and can be worth up to about $16.37MM over two years.

The 76ers have had a busy first day in free agency, reaching contract agreements with Andre Drummond (two years, $10MM), and Eric Gordon (veteran’s minimum) in addition to Oubre. Philadelphia is also the strong frontrunner to land star forward Paul George after the Clippers issued a statement on Sunday announcing that George will be signing with a new team.