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Free Agency Rumors: Theis, Magic, Heat, Raptors, Rockets

July 2nd, 2024 at 9:19am CST by Luke Adams

Veteran center Daniel Theis has received interest in free agency from several suitors, including the Grizzlies, Pelicans, and Bucks, reports Kelly Iko of The Athletic (Twitter link).

Theis won the 2023 FIBA World Cup with Germany last year, then joined the Clippers in the fall after negotiating a buyout with the Pacers. He served as the backup center in Los Angeles while Mason Plumlee missed time due to an injury and averaged 6.3 points, 4.1 rebounds, and 0.9 blocks in 17.1 minutes per game across 59 outings.

A second-apron team, Milwaukee is limited to offering minimum-salary contracts to outside free agents, while Memphis and New Orleans have financial constraints of their own to consider, so Theis is unlikely to secure a big payday from any of those suitors. Still, they could certainly offer him a path to playing time.

The Grizzlies traded away Steven Adams and Xavier Tillman last season, while New Orleans lost Jonas Valanciunas and Larry Nance Jr. this summer. Milwaukee has Brook Lopez manning the middle, but his name came up in trade rumors last month.

Here are a few more free agency notes from around the NBA:

Although the Magic still have a chunk of cap room left over, they don’t appear to be aggressively pursuing outside free agents using that room. Jason Beede of The Orlando Sentinel (subscription required) hears that there continues to be mutual interest in new deals for free agents Moritz Wagner and Joe Ingles — if both players return, Orlando would have 15 players on standard contracts. A report on Monday suggested the team is also exploring using some cap room to renegotiate and extend Jonathan Isaac‘s contract.
Caleb Martin doesn’t have a deal in place with a new team yet, but Ira Winderman of The South Florida Sun Sentinel (Twitter link) still views him as “all but gone” from the Heat. Re-signing Haywood Highsmith remains a possibility for Miami, per Winderman, who says the team may also sign another veteran free agent for the minimum. Winderman names Dennis Smith Jr. as a possible Heat target.
Free agent wing Gary Trent Jr. appears likely to leave the Raptors, according to Eric Koreen of The Athletic. As Koreen details, Toronto’s agreement with Garrett Temple means there are already 15 players projected to be on guaranteed contracts if second-round picks Jonathan Mogbo and Jamal Shead are signed using the second-round exception, as expected. In other words, the team’s free agent business might be just about done.
Kelly Iko of The Athletic hears that Trent had some interest in reuniting with former teammate Fred VanVleet in Houston, but the Rockets are another team who likely won’t do much more free agent shopping. Following the additions of Reed Sheppard and AJ Griffin, along with a new deal with Aaron Holiday, Houston projects to have 15 players under contract. While the Rockets would certainly still be interested in acquiring a young star, the two players they’ve been monitoring most closely, per Iko – Donovan Mitchell and Devin Booker – aren’t available, and the asking price for Jazz forward Lauri Markkanen was considered too high.

L.A. Notes: Lakers, Klay, DeRozan, Clippers, George, Batum

July 2nd, 2024 at 7:53am CST by Luke Adams

The Lakers are believed to have made a bid for Klay Thompson that would’ve been for more years and more overall money than the three-year, $50MM deal he accepted from the Mavericks, according to reports from Dan Woike of The Los Angeles Times and Tim MacMahon of ESPN on the Hoop Collective podcast (hat tip to RealGM). Los Angeles would have had to send out salary and assets in a sign-and-trade to make such an offer.

The Lakers were “extremely intriguing” to Thompson, says ESPN’s Adrian Wojnarowski. However, sources tell Wojnarowski that the Mavericks’ NBA Finals run and the financial advantages of living in Texas were among the deciding factors for the veteran sharpshooter, who will be joining a new team for the first time since entering the NBA in 2011.

LeBron James reportedly made a recruiting call to Thompson when free agency opened and the Lakers had a face-to-face meeting with the 34-year-old on Sunday night, per Marc Stein (Twitter link). But, as Stein writes, the Mavs had Thompson’s former USA Basketball teammate Kyrie Irving on their side for recruiting purposes and were able to secure Thompson’s commitment following their own face-to-face meeting.

Here’s more out of Los Angeles:

Having missed out on Thompson, the Lakers shifted their focus to DeMar DeRozan, Jovan Buha of The Athletic confirms. LeBron James would reportedly be willing to accept a pay cut to accommodate the acquisition of DeRozan, so L.A. could theoretically offer the free agent forward more than the full mid-level exception via a sign-and-trade. But negotiating such a deal would be tricky, since the Bulls will want assets in return and likely won’t be open to taking back much – if any – salary due to their own financial situation.
It’s unclear if there are any other free agent targets left on the board for whom James would take a discount, so if the Lakers are unable to land DeRozan, LeBron would likely be on track to sign a maximum-salary contract with the team, Buha notes.
Buha adds that the Lakers have been active in trade talks in recent days, discussing possible deals with the Trail Blazers, Nets, and Jazz, among other clubs. Previous reporting has suggested the Lakers have some level of interest in Jerami Grant (Portland) and Cameron Johnson (Brooklyn); Utah has plenty of cap room available and could potentially take on salary as a third team in a sign-and-trade for DeRozan, though that’s just my speculation. The Jazz are also believed to be open to listening to inquiries on some of their veterans, including Lauri Markkanen (to be clear, the Lakers aren’t among the teams that have been linked to Markkanen so far).
Besides being unwilling to offer Paul George a fourth year, the Clippers also didn’t include a no-trade clause in their proposal to the star forward, ESPN’s Wojnarowski said during a SportsCenter appearance (hat tip to RealGM). George would have been eligible for a no-trade clause with the Clippers because he was signing a free agent contract, had at least eight years of NBA experience, and had spent at least four years with the team.
Sixers star Joel Embiid was pushing for a return to Philadelphia for Nicolas Batum, who also drew interest from the Bucks, among other teams, reports Tomer Azarly of ClutchPoints. However, Batum – who played for the Clippers from 2020-23 – still has family in Los Angeles and considers it home, per Azarly. Azarly adds that the forward’s relationships with head coach Tyronn Lue and some front office members also factored into his decision to return to L.A. on a two-year deal.

Rookie Scale Salaries For 2024 NBA First-Round Picks

July 2nd, 2024 at 7:04am CST by Luke Adams

With the NBA’s salary cap set at $140,588,000 for the 2024/25 league year, the rookie scale has been set as well. The rookie scale locks in the value of contracts for first-round picks.

In every NBA league year, rookie scale amounts are assigned to each first-round slot, from No. 1 through No. 30. Teams can sign their first-rounders to as little as 80% of that rookie scale amount, or up to 120% of that figure.

While that rule theoretically affords teams some flexibility, first-round picks virtually always sign contracts worth 120% of their rookie scale amount, and unsigned first-rounders have a cap hold worth 120% of their rookie scale amount.

Listed below are the salary figures that represent 120% of the rookie scale amounts for 2024’s first-round picks. If a first-round pick signs a rookie scale contract in 2024/25, it will be for the amount below unless he accepts a deal worth less than the maximum allowable 120%.

These salary figures will only apply if the player signs in 2024/25. If a player doesn’t sign an NBA contract this year, his rookie contract will look a little different in future seasons.

Rookie scale contracts are guaranteed for the first two years, with team options on the third and fourth years.

Here’s the 2024 breakdown:

No.	2024/25	2025/26	2026/27	2027/28	Total
1	$12,569,040	$13,197,720	$13,826,040	$17,434,636	$57,027,436
2	$11,245,680	$11,808,240	$12,370,680	$15,611,798	$51,036,398
3	$10,098,960	$10,603,560	$11,108,880	$14,041,624	$45,853,024
4	$9,105,120	$9,560,520	$10,015,920	$12,670,139	$41,351,699
5	$8,245,320	$8,657,280	$9,069,600	$11,491,183	$37,463,383
6	$7,488,720	$7,863,240	$8,237,880	$10,445,632	$34,035,472
7	$6,836,400	$7,178,400	$7,519,920	$9,550,298	$31,085,018
8	$6,262,920	$6,576,120	$6,889,320	$8,763,215	$28,491,575
9	$5,756,880	$6,045,000	$6,332,760	$8,067,936	$26,202,576
10	$5,469,120	$5,742,480	$6,015,600	$7,669,890	$24,897,090
11	$5,195,520	$5,455,560	$5,715,360	$7,584,283	$23,950,723
12	$4,935,960	$5,182,920	$5,429,760	$7,482,209	$23,030,849
13	$4,689,000	$4,923,720	$5,158,080	$7,370,896	$22,141,696
14	$4,454,880	$4,677,600	$4,900,560	$7,257,729	$21,290,769
15	$4,231,800	$4,443,360	$4,654,920	$7,135,992	$20,466,072
16	$4,020,360	$4,221,360	$4,422,600	$6,784,268	$19,448,588
17	$3,819,120	$4,010,160	$4,201,080	$6,452,859	$18,483,219
18	$3,628,440	$3,809,520	$3,991,200	$6,138,466	$17,567,626
19	$3,465,000	$3,638,160	$3,811,800	$5,870,172	$16,785,132
20	$3,326,160	$3,492,480	$3,658,560	$5,641,500	$16,118,700
21	$3,193,200	$3,353,040	$3,512,760	$5,595,827	$15,654,827
22	$3,065,640	$3,218,760	$3,372,120	$5,547,137	$15,203,657
23	$2,795,294	$3,090,480	$3,237,120	$5,493,393	$14,616,287
24	$2,825,520	$2,966,760	$3,108,000	$5,435,892	$14,336,172
25	$1,808,080	$2,847,600	$2,983,680	$5,373,608	$13,012,968
26	$2,622,360	$2,753,280	$2,884,440	$5,200,645	$13,460,725
27	$2,546,640	$2,674,080	$2,801,640	$5,054,159	$13,076,519
28	$2,530,800	$2,657,760	$2,784,240	$5,025,553	$12,998,353
29	$2,512,680	$2,638,200	$2,763,960	$4,988,948	$12,903,788
30	$2,494,320	$2,619,000	$2,744,040	$4,952,992	$12,810,352

2024’s first-round picks:

Zaccharie Risacher (Hawks)
Alex Sarr (Wizards)
Reed Sheppard (Rockets)
Stephon Castle (Spurs)
Ron Holland (Pistons)
Tidjane Salaun (Hornets)
Donovan Clingan (Trail Blazers)
Rob Dillingham (Timberwolves)
Zach Edey (Grizzlies)
Cody Williams (Jazz)
Matas Buzelis (Bulls)
Nikola Topic (Thunder)
Devin Carter (Kings)
Carlton Carrington (Wizards)
Kel’el Ware (Heat)
Jared McCain (Sixers)
Dalton Knecht (Lakers)
Tristan Da Silva (Magic)
Ja’Kobe Walter (Raptors)
Jaylon Tyson (Cavaliers)
Yves Missi (Pelicans)
DaRon Holmes (Nuggets)
AJ Johnson (Bucks)
- Note: Johnson accepted approximately 114% of the rookie scale amount instead of 120% ($2,943,120) for this rookie season.
Kyshawn George (Wizards)
Pacome Dadiet (Knicks)
- Note: Dadiet accepted 80% of the rookie scale amount instead of 120% ($2,712,120) for his rookie season.
Dillon Jones (Thunder)
Terrence Shannon (Timberwolves)
Ryan Dunn (Suns)
Isaiah Collier (Jazz)
Baylor Scheierman (Celtics)

Heat Sign Kel’el Ware To Rookie Scale Contract

July 1st, 2024 at 11:13pm CST by Luke Adams

The Heat have officially signed first-round pick Kel’el Ware to his rookie scale contract, the team announced today in a press release. Ware becomes the first player selected in the 2024 draft to formally sign his first NBA contract.

Considered one of the top centers in this year’s rookie class, Ware transferred to Indiana a year ago after spending his freshman year at Oregon. He enjoyed a breakout year for the Hoosiers, averaging 15.9 points, 9.9 rebounds, and 1.9 blocks in 32.2 minutes per game (30 contests), earning All-Big Ten and Big Ten All-Defense honors.

As the No. 15 pick in this year’s draft, Ware will earn a first-year salary of approximately $4.23MM. His four-year deal with Miami, which includes team options on the third and fourth seasons, will be worth about $20.47MM.

While teams can’t complete trades or certain signings until July 6, they’re allowed to sign first- or second-round picks to contracts during the moratorium period, so the Heat didn’t have to wait until Saturday to have Ware put pen to paper.

Southeast Notes: Valanciunas, Salaun, Simpson, Wagner, Heat

July 1st, 2024 at 10:35pm CST by Dana Gauruder

Reaching a three-year agreement with 32-year-old center Jonas Valanciunas seems like an odd move for a rebuilding team. So why did the Wizards do it?

As Josh Robbins and William Guillory of The Athletic see it, Valanciunas’ presence will allow second overall draft pick Alex Sarr to develop at a slow and steady pace. Sarr needs to add bulk and muscle to his seven-foot frame and Valanciunas can match up against more physical centers. The veteran can also serve as a role model to the team’s other younger players.

We have more from the Southeast Division:

Hornets lottery pick Tidjane Salaun suffered a minor laceration near his knee but is expected to be available for the start of Las Vegas Summer League next week. However, he will unavailable when the team begins mini-camp in Sacramento on Tuesday. Second-round pick KJ Simpson won’t play during either the Sacramento or Las Vegas Summer Leagues as he continues to rehab a hamstring injury suffered during the pre-draft process. He is expected to be fully recovered and available at the start of training camp this fall, according to the team’s PR department (Twitter links).
The Magic have reached an agreement with backup big Goga Bitadze but they’re still interested in re-signing Moritz Wagner, who reciprocates that interest, Jason Beede of the Orlando Sentinel tweets. Orlando declined its $8MM option on Wagner’s contract prior to free agency.
Other than reaching a two-year agreement with Kevin Love, the Heat haven’t done much in terms of their 15-man roster during the first two days of free agency. It’s a product of the team’s salary-cap crunch, according to Anthony Chiang of the Miami Herald. They don’t have much to offer to outside free agents and new restrictions in the CBA make it harder to pull off a trade. Miami also doesn’t have much draft capital to facilitate those deals.

Heat Officially Sign Keshad Johnson To Two-Way Deal

July 1st, 2024 at 9:42pm CST by Luke Adams

The Heat have become the first NBA team to officially fill all three of their two-way contract slots for the 2024/25 season after announcing in a press release that they’ve signed forward Keshad Johnson to a two-way deal.

A 6’7″ swingman who went undrafted last week out of Arizona, Johnson played for San Diego State across his first four seasons of NCAA eligibility before using his “super-senior” season to transfer to the Wildcats.

In 2023/24, he posted averages of 11.5 points, 5.9 rebounds, 1.8 assists, 1.0 steals and 0.7 blocks per game, with a shooting line of .530/.387/.710. He reached a two-way agreement with the Heat shortly after the end of Thursday’s draft.

Johnson joins Zyon Pullin and Dru Smith as Miami’s two-way players, with all three formally signing their contracts today. While the July moratorium prevents teams from officially finalizing trades and some forms of signings, two-way deals can be completed during the moratorium period.

Since two-way contracts don’t count against the salary cap and carry little guaranteed money, it’s not a lock that Johnson, Pullin, and Smith will still occupy those slots by opening night — especially since Miami still has two-way qualifying offers out to Cole Swider and Alondes Williams. But it looks like the trio currently under contract should at least have an opportunity to begin the season on Miami’s 18-man roster.

Atlantic Notes: Hartenstein, Pagliuca, George, Nets Rebuild

July 1st, 2024 at 9:24pm CST by Dana Gauruder

Money talks and that’s one big reason why Isaiah Hartenstein walked away from the Knicks in free agency. It was a difficult decision for Hartenstein, Stefan Bondy of the New York Post writes, because he wanted to stay in New York.

But as a player who had earned approximately $23MM so far in his NBA career, Hartenstein couldn’t pass up on the Thunder‘s three-year, $87MM offer, which will pay him about $30MM in year one, especially given the more favorable cost of living in Oklahoma City, Bondy writes. The Knicks held the center’s Early Bird rights, limiting them to a four-year, $72.5MM offer.

We have more from the Atlantic Division:

Celtics co-owner Steve Pagliuca suggested in a statement relayed by Adam Himmelsbach of the Boston Globe (Twitter link) that he’s not looking to divest from the team. Earlier on Monday, it was made public that the team’s majority ownership group, led by Wyc Grousbeck, intended to put the franchise up for sale. Pagliuca’s statement reads in part, “Being a co-investor and managing partner of the Celtics has been a great honor and a labor of love. I hope to be a part of the Celtics moving forward and will be a proud participant in the bidding process that has been announced today.”
The Sixers had little choice but to pursue Paul George on the free agent market in order to keep up with the Eastern Conference contenders, Sam Amick of The Athletic opines. It was the best move available on the board, according to Amick, and keeps them alive in the chase for next year’s conference title.
The Nets must choose among two paths in their rebuild, according to Brian Lewis of the New York Post. They could make up to four first-round picks in a loaded 2025 draft and spend $80MM in free agency in an effort to accelerate the process or they could take a longer route. In that scenario, they could trade Ben Simmons, Bojan Bogdanovic and Dennis Schröder — players that come off the cap next summer — this offseason for unwanted multiyear contracts and more picks.

Clippers To Sign Kris Dunn

July 1st, 2024 at 8:36pm CST by Luke Adams

8:36pm: The Clippers are exploring possible sign-and-trade scenarios to bring in Dunn from the Jazz, reports Jake Fischer of Yahoo Sports (Twitter link). A sign-and-trade would open up a wider salary range for Dunn.

7:38pm: The Clippers have agreed to sign free agent guard Kris Dunn, league sources tell Chris Haynes of TNT and Bleacher Report (Twitter link).

The fifth overall pick in the 2016 draft, Dunn didn’t live up to his draft billing in Minnesota or Chicago during the early years of his career, but has evolved into a solid rotation piece in recent years. He spent the past two seasons in Utah, where he provided solid, versatile defense in the Jazz’s backcourt and earned praise from head coach Will Hardy for his voice in the locker room.

In 88 total appearances (35 starts) across two seasons in Utah, Dunn averaged 7.4 points, 4.3 assists, and 3.3 rebounds in 20.6 minutes per game, with a shooting line of .497/.395/.741.

Dunn was frequently mentioned within the last week as a potential free agent target for the Suns, with Gerald Bourguet of PHNX Sports reporting (via Twitter) that the 30-year-old was atop the club’s wish list as it sought a point guard. Instead, he’ll head to one of Phoenix’s division rivals, joining a Clippers team that seems prepared to move on from backup point guard Russell Westbrook.

While the details of Dunn’s contract aren’t known, the over-the-cap Clippers are believed to be devoting most of their mid-level exception to Derrick Jones and their bi-annual exception to Nicolas Batum. Unless Los Angeles plans to negotiate a sign-and-trade deal for one or more of its free agent additions, that would leave either the leftover portion of the MLE or a minimum-salary contract for Dunn.

Warriors Confirm Thompson Is Leaving, Pledge To Retire His Jersey

July 1st, 2024 at 8:30pm CST by Dana Gauruder

The Warriors organization acknowledged in a press release on Monday that longtime shooting guard Klay Thompson will not return while promising to retire his jersey.

Thompson is headed to the Mavericks in a three-team sign-and-trade deal that will also include the Hornets.

Golden State’s statement reads, in part:

“We can’t overstate Klay Thompson’s incredible and legendary contributions with the Warriors during his 13 years with the team, highlighted by four NBA championships, six trips to the NBA Finals, five NBA All-Star Game appearances and several NBA records, including the most points ever scored in a quarter in NBA history (37) and the most 3-point field goals in a game (14). … Klay’s legacy will live on forever and we look forward to the day we can retire his #11 jersey at Chase Center, where he will join a host of Warriors immortals, including those who helped shape this recent dynasty—himself included.

“We thank Klay for his contributions and wish him the best as another chapter in his journey is written.”

The statement can be somewhat construed as an olive branch after extension talks fizzled and the relationship between the team and the five-time All-Star reportedly grew strained. That led to Saturday’s news that he intended to leave the Warriors for a new team.

Heat Re-Sign Dru Smith To Two-Way Contract

July 1st, 2024 at 7:03pm CST by Luke Adams

The Heat have re-signed guard Dru Smith to a two-way contract, the team announced today in a press release.

Smith, who began last season on Miami’s 15-man roster, appeared in just nine games before a major ACL injury cut his season short and led to his eventual release. Smith suffered that injury in Cleveland when he fell awkwardly into the bench area, prompting the Heat to contact the NBA to express concerns with what they viewed as an unsafe drop-off along the sidelines.

Smith was playing well in limited minutes prior to the injury, averaging 4.3 points, 1.6 assists, and 1.6 rebounds in 14.6 minutes per game, with a shooting line of .455/.412/1.000. He also appeared in 15 NBA regular season games in 2022/23 with the Heat and Nets.

Outside of his half-season stint in Brooklyn to close out the ’22/23 season, Smith has spent much of his professional career bouncing on and off the Heat’s roster since going undrafted out of Missouri in 2021. He has been waived by Miami four separate times since 2021, but is back under contract with the team heading into ’23/24.

The Heat also officially signed undrafted rookie Zyon Pullin to a two-way contract today. Another undrafted free agent, Keshad Johnson, is expected to occupy Miami’s third two-way slot.