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Warriors Waive Chris Paul

June 30th, 2024 at 5:25pm CST by Dana Gauruder

5:25pm: The Warriors have officially waived Paul, the team confirmed (via Twitter).

4:45pm: The Warriors are waiving point guard Chris Paul, Chris Haynes of TNT and Bleacher Report tweets. Paul will now become an unrestricted free agent once he clears waivers.

Golden State had to make a decision today whether to guarantee Paul’s $30MM salary for the 2024/25 season. Both the Warriors and Paul agreed to push back the guarantee date from Friday to Sunday.

The Warriors had attempted to include Paul’s contract in a blockbuster deal, including a potential swap with the Clippers for Paul George. However, they were unable to pull anything off.

Paul, who turned 39 in May, remained productive in 2023/24, averaging 9.2 points, 6.8 assists, and 3.9 rebounds in 26.4 minutes per game in 58 appearances (18 starts) for the Warriors. He posted a shooting line of .441/.371/.827.

The rule prohibiting tax-apron teams from signing a waived player whose previous salary was higher than the full mid-level exception only applies if the player is cut during the regular season. Thus, Paul is free to sign with anyone.

The Suns, who can only offer veteran’s minimum contracts, could be an option for Paul, though John Gambadoro of Arizona Sports 98.7 (Twitter link) dismissed that possibility. The Clippers have also been mentioned as a potential landing spot.

Another intriguing possibility is the Spurs, according to Marc Stein (Twitter link), who says San Antonio has “strong” interest. The 12-time All-Star could be a natural, if short-term, pick-and-roll partner for Victor Wembanyama. There will undoubtedly be other suitors for the future Hall of Famer.

The Warriors, meanwhile, are in the unusual position of being under the tax aprons by shedding Paul’s contract. They currently have $147.2MM in salary commitments among 12 players, nearly $31MM under the first tax apron, ESPN’s Bobby Marks tweets. That puts them in position to potentially use the full mid-level exception and/or bi-annual exception. Klay Thompson and Dario Saric are now free agents.

Heat Re-Sign Kevin Love To Two-Year Deal

June 30th, 2024 at 5:06pm CST by Luke Adams

JULY 6: Love is officially back under contract with the Heat, the team confirmed today in a press release.

JUNE 30: The Heat and big man Kevin Love have agreed to a new deal, according to Shams Charania of The Athletic (Twitter link). Love will sign a two-year contract worth over $8MM, sources tell Charania. The agreement doesn’t include an option year, tweets Ira Winderman of The South Florida Sun Sentinel.

A minimum-salary contract for Love would be worth in the neighborhood of $7MM, so it sounds like Miami is going a little higher than that to bring him back.

Love, 35, initially joined the Heat on the buyout market during the second half of the 2022/23 season and played a key role on the team that made the NBA Finals that spring. He re-signed with Miami a year ago and averaged 8.8 points, 6.1 rebounds, and 2.1 assists in 16.8 minutes per game across 55 appearances (five starts) in 2023/24.

Love held a player option for the 2024/25 season that he decided to turn down on Saturday. That option was worth just north of $4MM, so it appears he’ll be back for around the same price, with an extra year tacked onto his new contract.

Love will provide depth in a frontcourt headed up by star center Bam Adebayo. Big man Thomas Bryant is an unrestricted free agent and Orlando Robinson has a non-guaranteed salary for 2024/25, but the Heat added a center in the draft by selecting Kel’el Ware out of Indiana.

Klay Thompson, Warriors Parting Ways

June 30th, 2024 at 5:04pm CST by Rory Maher

Veteran sharpshooter Klay Thompson is leaving the Warriors, the only franchise he’s known in his 13 NBA seasons, reports Shams Charania of The Athletic and Stadium (Twitter link).

According to Charania, the two sides are set to begin exploring sign-and-trade options for the five-time All-Star. Sources tell ESPN’s Adrian Wojnarowski that Thompson will talk to the Mavericks, Lakers, Clippers and Sixers with free agency officially underway (Twitter link).

The 11th pick of the 2011 draft, Thompson is one of the most accomplished shooters in league history, ranking sixth all-time in three-pointers made. The 34-year-old has knocked down 41.3% of his attempts from long distance over the course of his career.

The second “splash brother” next to Stephen Curry, Thompson played a key role in helping Golden State win four championships during his tenure with the team. Earlier in his career, he made a couple of All-NBA Third Team appearances, plus an All-Defensive Second Team nod back in 2018/19.

However, a torn ACL and a torn Achilles tendon cost Thompson two full seasons during his prime. While he has remained one of the NBA’s top three-point marksmen since he returned from those injuries in January 2022, he doesn’t have the same athleticism or defensive versatility he once did.

Thompson, who earned $43.2MM in 2023/24 during the final year of his max contract, reportedly turned down a two-year, $48MM extension from Golden State before last season began. Talks between the two sides went quiet leading up to free agency, which is always an ominous sign.

In 77 regular season games in ’23/24, Thompson averaged 17.9 PPG, 3.3 RPG and 2.3 APG on .432/.387/.927 shooting (29.7 MPG). He scored zero points and went 0-10 from the field as the No. 9 Warriors fell to the No. 10 Kings in the play-in tournament.

FA/Trade Rumors: Wings, Pistons, Pelicans, Valanciunas

June 30th, 2024 at 4:55pm CST by Rory Maher

The free agent wing market could be held up temporarily until Paul George, Klay Thompson and Kentavious Caldwell-Pope have agreed to new contracts, says Jake Fischer of Yahoo Sports.

That outcome was always expected, with those three swingmen likely limiting other players’ options. Cap-room playoff teams like the Sixers and Magic reportedly have interest in both George and Caldwell-Pope, while the Mavericks, Lakers and Clippers are among Thompson’s suitors.

The Pistons are another team with significant cap room, but Fischer hears Detroit is more interested in taking on unwanted salaries in exchange for draft assets rather than pursuing marquee names like George.

Here are a couple more items of interest from Fischer:

The Pelicans are trading for former All-Star Dejounte Murray, who has a 15% trade kicker. However, sources tell Fischer there’s a chance that Murray may not receive that full 15% for salary-matching and cap reasons, describing the situation as “open-ended.” New Orleans is also on the hunt for a starting center with Jonas Valanciunas an unrestricted free agent — the team was recently linked to Magic big man Wendell Carter.
Speaking of Valanciunas, Fischer hears from sources who say the Lithuanian veteran is expected to draw interest from the Lakers and Wizards.

NBA Maximum Salaries For 2024/25

June 30th, 2024 at 4:55pm CST by Luke Adams

Now that the NBA has set its salary cap for the 2024/25 league year at $140,588,000, we have a clear idea of what maximum-salary contracts will look like for the coming season.

Listed below are the maximum-salary contracts for players signing contracts that start in 2024/25.

The first chart shows the maximum salaries for a player re-signing with his own team — a player’s previous team can offer five years instead of four, and 8% annual raises instead of 5% raises. The second chart shows the maximum salaries for a player signing with a new team.

These figures will apply to a number of players who signed maximum-salary contract extensions that will go into effect in 2024/25: Devin Booker, Karl-Anthony Towns, Jaylen Brown, Anthony Edwards, Tyrese Haliburton, and LaMelo Ball. They’ll also apply to anyone who signs a maximum-salary contract with his own team as a free agent in ’24/25.

A player’s maximum salary is generally determined by his years of NBA experience, so there’s a wide gap between potential earnings for younger and older players.

In the charts below, the “6 years or less” column details the maximum contract for a player like Ball, as well as what a free agent like Tyrese Maxey is eligible for; the “7-9 years” column applies to Pascal Siakam, who is signing a four-year max deal with the Pacers, and to Edwards and Haliburton, who each qualified for a Rose Rule rookie scale extension; and the “10+ years” column applies to the league’s most experienced vets, like LeBron James and Paul George, as well as those who qualified for the super-max, such as Booker, Towns, and Brown.

Here are the maximum salary figures for 2024/25:

A player re-signing with his own team (8% annual raises, up to five years):

Year	6 years or less	7-9 years	10+ years
2024/25	$35,147,000	$42,176,400	$49,205,800
2025/26	$37,958,760	$45,550,512	$53,142,264
2026/27	$40,770,520	$48,924,624	$57,078,728
2027/28	$43,582,280	$52,298,736	$61,015,192
2028/29	$46,394,040	$55,672,848	$64,951,656
Total	$203,852,600	$244,623,120	$285,393,640

A player signing with a new team (5% annual raises, up to four years):

Year	6 years or less	7-9 years	10+ years
2024/25	$35,147,000	$42,176,400	$49,205,800
2025/26	$36,904,350	$44,285,220	$51,666,090
2026/27	$38,661,700	$46,394,040	$54,126,380
2027/28	$40,419,050	$48,502,860	$56,586,670
Total	$151,132,100	$181,358,520	$211,584,940

It’s worth noting that none of the maximum-salary figures listed above will apply to extension-eligible players whose new contracts will start in 2025/26.

This group includes Scottie Barnes, who will reportedly sign a maximum-salary rookie scale extension with the Raptors. It also includes players who signed max extensions in previous years that will begin in ’25/26, such as Giannis Antetokounmpo and Anthony Davis.

The exact value of those players’ contracts will depend on where the cap lands for 2025/26, which won’t be officially announced until next June.

Max Christie Signs Four-Year Deal With Lakers

June 30th, 2024 at 4:16pm CST by Dana Gauruder

JULY 6: Christie has officially signed his new contract with the Lakers, the team announced today in a press release (Twitter link via Khobi Price of The Southern California News Group).

JUNE 30: Restricted free agent Max Christie plans to sign the Lakers’ four-year contract offer, Adrian Wojnarowski of ESPN tweets. The deal is worth approximately $32MM and will include a player option in the final year.

It’s a strong commitment by the Lakers to Christie, an early second-round selection in 2022. Christie appeared in 41 games as a rookie, then spent much of last season in the rotation. He posted averages of 4.2 points, 2.1 rebounds and 0.9 assists in 67 regular-season games, including seven starts. Christie has made 37.8% of his 3-pointers, a total of 180 attempts in all, during his two seasons.

Christie made the jump to the NBA after a one-and-done season at Michigan State. Still just 21 years old, Christie offers good size (6’5”) at the shooting guard spot and could see his role expand under new head coach J.J. Redick, though he’ll have plenty of competition — including first-round pick Dalton Knecht — for minutes behind Austin Reaves.

The Lakers extended a $2.3MM qualifying offer this weekend to Christie to make him an RFA. His younger brother Cam Christie was drafted in the second round by the Clippers on Thursday.

Christie’s contract will put the Lakers approximately $39MM below the $178.1MM first tax apron, but that doesn’t include LeBron James and Bronny James, cap expert Yossi Gozlan notes (Twitter link).

Salary Cap, Tax Line Set For 2024/25 NBA Season

June 30th, 2024 at 4:00pm CST by Luke Adams

The NBA has officially set the salary cap for its 2024/25 season. The cap has come in at $140,588,000, slightly below the most recent projection of $141MM. It represents an increase of about 3.36% on last season’s $136,021,000 cap.

Here are the details, courtesy of a league press release and Eric Pincus of Bleacher Report (Twitter link):

Salary cap: $140,588,000
Luxury tax line: $170,814,000
First tax apron: $178,132,000
Second tax apron: $188,931,000
Minimum salary floor: $126,529,000
Non-taxpayer mid-level exception: $12,822,000
Taxpayer mid-level exception: $5,168,000
Room exception: $7,983,000
Bi-annual exception: $4,668,000
Maximum salaries:
- 6 years or fewer: $35,147,000
- 7-9 years: $42,176,400
- 10+ years: $49,205,800
Early Bird exception: $12,991,650
Estimated average salary: $12,930,000
Trade cash limit: $7,240,000
Maximum Exhibit 10 bonus: $77,500

The first tax apron for the 2024/25 league year ($178,132,000) will be the hard cap for any team that acquires a player via sign-and-trade, signs a player using more than the taxpayer portion of the mid-level exception, signs or acquires a player using a bi-annual exception, uses any portion of its mid-level exception to add a player via trade or waiver claim, acquires more than 100% of the outgoing salary in a trade, or uses a trade exception generated prior to the start of the 2024 offseason.

The second tax apron ($188,931,000) represents the hard cap for a team that uses any portion of the mid-level exception, aggregates two or more player salaries in a trade, sends out cash in a trade, or uses a signed-and-traded player to take back salary.

The salary floor ($126,529,000) is the minimum amount a team must pay its players in 2024/25. A team that doesn’t spend up to that amount by the start of the regular season will pay the shortfall to the NBA and won’t be eligible for its full share of the luxury tax distribution at season’s end.

We have separate stories breaking the full year-by-year figures for this season’s maximum salaries, minimum salaries, and mid-level and bi-annual exceptions.

The Early Bird amount represents the maximum starting salary a team can offer a player it intends to re-sign using his Early Bird rights, assuming that amount is greater than 175% of his previous salary.

Players earning below the estimated average salary in 2024/25 who are eligible for a veteran extension can receive a starting salary of up to 140% of the estimated average salary on a new deal. So the maximum starting salary for a player earning below the league average who signs an extension that begins in 2025/26 will be $18,102,000.

The trade cash limit is the maximum amount of money a team can send or receive during the 2024/25 league year. The sent and received categories are separate, so if a team sends out $7,240,000 in one trade and receives $7,240,000 in another, they aren’t back at square one — they’ve reached both limits.

The maximum Exhibit 10 bonus is, as its name suggests, the highest possible bonus available to a player who signs an Exhibit 10 contract with an NBA team, gets cut, then spends at least 60 days with that club’s G League affiliate.

This amount ($77,500) is also the maximum two-way protection amount, which means a player who signs a two-way contract before the season can get up to $77.5K guaranteed upon signing. A player who signs a contract with more than $77.5K guaranteed is not subsequently eligible for a two-way contract with that team in 2024/25.

The NBA’s cap increased by the maximum allowable 10% during the 2022 and 2023 offseasons and is expected to do so again in 2025 as the league’s new media rights deal takes effect, so this year represents an outlier, creating more challenges circumstances for teams navigating the cap and the aprons. The NBA has officially issued a $154,647,000 cap projection for 2025/26, Pincus confirms (Twitter link).

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FA/Trade Rumors: Okoro, Pistons, Lakers, Lopez, Grant, Knicks

June 30th, 2024 at 3:41pm CST by Luke Adams

The Pistons are a rival suitor to keep an eye on for Cavaliers free agent forward Isaac Okoro, reports Chris Fedor of Cleveland.com (subscriber link).

As Fedor explains, Okoro’s former coach J.B. Bickerstaff is being hired as the Pistons’ new head coach, and the rebuilding squad could afford to be more patient than Cleveland in developing the wing into more of a two-way threat. Additionally, Fedor cites Okoro’s “toughness, competitiveness, tenacity and defense-first credo” as important traits that would help Bickerstaff instill the kind of culture he wants in Detroit.

Okoro received a qualifying offer from the Cavaliers, making him a restricted free agent and giving Cleveland the ability to match any offer sheet he receives. Still, the Pistons will have a significant amount of cap room this summer and could make life hard on the capped-out Cavs with an aggressive offer sheet.

Here are a few more rumors from around the NBA:

The Lakers have been exploring potential trade scenarios involving D’Angelo Russell, Jarred Vanderbilt, Gabe Vincent, and Rui Hachimura, according to Jake Fischer of Yahoo Sports, who hears from sources that Bucks center Brook Lopez is among L.A.’s potential targets. Meanwhile, Anthony F. Irwin of LakersDaily.com has heard the Lakers have had conversations with the Trail Blazers about forward Jerami Grant.
It was no coincidence that the Knicks signed Miles McBride to a contract extension on December 30, allowing him to become trade-eligible on June 30 following a six-month waiting period, writes Stefan Bondy of The New York Post. However, that move was more about giving them team flexibility and was made prior to McBride’ breakout. Although New York needs to add salary to its Mikal Bridges trade with Brooklyn to avoid a hard cap at the first tax apron, the club has “virtually no interest” in moving McBride as part of that deal, says Ian Begley of SNY.tv.
The Knicks have had some discussions about trades involving big man Jericho Sims, according to Begley. Sims’ minimum-salary team option was picked up before Saturday’s deadline, so he’s on an expiring deal entering 2024/25.

Report: Growing Optimism Sixers Will Land Paul George

June 30th, 2024 at 3:11pm CST by Luke Adams

There’s “growing optimism” that the Sixers will be able to win the Paul George sweepstakes and land the star forward, reports Chris Haynes of Bleacher Report (Twitter link).

George, who declined his 2024/25 player option with the Clippers on Saturday, is expected to meet with the 76ers, the Magic, and the Clips on Sunday night after the free agent period officially opens. Both Philadelphia and Orlando are said to be willing to offer a four-year, maximum-salary contract for George and have the cap room necessary to do so.

In addition to putting a four-year max deal on the table for him, the Sixers can offer George the opportunity to team up with 2023 MVP Joel Embiid and 2024 Most Improved Player Tyrese Maxey, creating a formidable big three that would make Philadelphia a legitimate contender in the Eastern Conference.

Marc Stein reported this afternoon that the Sixers are exploring ways to maximize their cap room and land both George and Kentavious Caldwell-Pope. As cap expert Yossi Gozlan tweets, a maximum-salary contract for George would leave Philadelphia with only about $13MM in cap room, plus the $8MM room exception.

Acquiring either George or Caldwell-Pope via sign-and-trade could allow for a higher starting salary for KCP, but would require the cooperation of the player’s old team and would hard-cap the 76ers’ team salary at the first tax apron.

Teams aren’t permitted to negotiate or reach agreements with outside free agents until after the NBA’s free agent period officially opens at 5:00 pm Central time today.

FA Rumors: KCP, Harden, Kennard, Hartenstein, Jones, Highsmith, More

June 30th, 2024 at 2:59pm CST by Luke Adams

After Jake Fischer of Yahoo Sports reported earlier today that the Nuggets are preparing to lose Kentavious Caldwell-Pope, Michael Scotto of HoopsHype confirms there’s a growing belief around the league the veteran wing won’t remain in Denver.

The Magic have “significant” interest in Caldwell-Pope and there has been growing buzz about the possibility of Orlando aggressively pursuing him, Scotto says, adding that the Magic’s interest in Klay Thompson has cooled by comparison. Multiple executives who spoke to HoopsHype believe Caldwell-Pope will sign for $20-25MM per year.

The Sixers, who have also frequently been cited as a Caldwell-Pope suitor, have been exploring the feasibility of landing both KCP and Paul George using their cap room, tweets Marc Stein.

Here are several more rumors with the official start of free agency just a couple hours away:

While James Harden has been mentioned as a possible mid-level ($12.9MM) target for the Lakers, the expectation is that the Clippers will be willing to pay him approximately double that amount, Scotto writes, echoing a comment made by Adrian Wojnarowski on ESPN (YouTube link).
Rival executives aren’t expecting Luke Kennard to be truly available as an unrestricted free agent, according to Fischer, who says Kennard and the Grizzlies seem to be interested in continuing their relationship after the team turned down its option the sharpshooter on Saturday.
New Pistons head of basketball operations Trajan Langdon is known to be a fan of center Isaiah Hartenstein, so Detroit is considered a candidate to make a play for the Knicks big man, Fischer reports. A return to the Knicks still hasn’t been entirely ruled out for Hartenstein, though the Thunder continue to be viewed as a probable suitor as well, Fischer notes.
With point guard Tyus Jones seeking starter-level money as a free agent this offseason and the Wizards still in the early stages of their rebuilding project, there’s a growing sense that Washington will be open to moving Jones via sign-and-trade, per Scotto.
Free agent wing Haywood Highsmith is expected to draw interest from a mix of cap-room teams such as the Pistons, Hornets, Jazz, Spurs, and Sixers, as well as over-the-cap clubs like the Pacers, Kings, and Warriors, league sources tell Scotto, who suggests the 27-year-old could end up with a deal in the range of the full mid-level.
The Lakers are expected to have interest in re-signing both Taurean Prince and Spencer Dinwiddie, with Dinwiddie also likely to draw interest from the Mavericks, Scotto writes. NBA executives who spoke to HoopsHype projected Prince to potentially land a contract in the range of $5MM+ annually over two years.