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Offseason Observations: Exhibit 10 Terms, Okoro, Current FAs, Stretch Provision

September 20th, 2024 at 5:36pm CST by Luke Adams

With the start of most NBA training camps just 11 days away (and even sooner than that for the Celtics and Nuggets), the 2024 offseason is nearing its end.

Before we put a bow on the summer of 2024, we have one more installment of our "Offseason Observations" to share today, following up on similar articles published in July and August.

Here are some of the under-the-radar cap- and CBA-related stories I'm keeping an eye on as teams around the league prepare for their media days and training camps.

The disparity between Exhibit 10 bonuses

As we've written many teams in recent weeks, when a player signs an Exhibit 10 contract with an NBA team, is waived before the regular season begins, and then spends at least 60 days with his club's G League affiliate, he's eligible to earn a bonus worth up to $77.5K.

We always clarify that those bonuses can be worth "up to" $77.5K because that's the maximum possible Exhibit 10 bonus in 2024/25 (up from $75K a year ago, having increased at the same rate as the salary cap). But not every player who signs an Exhibit 10 contract is able to negotiate that maximum bonus.

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Joel Embiid, Sixers Finalize Three-Year Max Extension

September 20th, 2024 at 7:05am CST by Luke Adams

Superstar center Joel Embiid has agreed to a three-year, maximum-salary contract extension with the Sixers, according to Shams Charania of The Athletic (Twitter link), who reports that the new deal, which begins in 2026/27, will include a player option on the final year.

The deal is official, per an announcement from the team.

“Philadelphia is home,” Embiid wrote in an Instagram post announcing the agreement. “I want to be here for the rest of my career. I love this community and everything you’ve given me and my family. There is a lot more work to do. You guys deserve a championship and I think we’re just getting started!”

“Joel has cemented himself as one of the greatest Sixers of all time and is well on his way to being one of the best players to ever play the game. We’re ecstatic that this extension keeps him and his family in Philadelphia for years to come,” team owner Josh Harris said in a statement of his own. “Joel is a great family man, leader, and person. He is an elite two-way player with a combination of size, strength, and athleticism that this league has rarely – if ever – seen. He is integral to this franchise’s quest for another NBA Championship, and we are honored that he continues to choose this organization as his NBA home.”

Based on current salary cap projections, Embiid’s three-year extension will be worth approximately $192.9MM. He’ll make a projected $59.5MM in 2026/27 and $64.3MM in ’27/28, with a $69.1MM player option for ’28/29. Those figures count on the cap increasing by the maximum allowable 10% in each of the next two seasons.

Taking into account the two years and $106.6MM left on Embiid’s current contract, he’s now on track to earn just shy of $300MM over the next five seasons. The big man’s previous deal included a player option for the ’26/27 season, but it’ll be replaced by the new contract.

After being plagued by foot issues that cost him two full seasons at the start of his NBA career, Embiid has become one of the league’s most dominant players, earning All-Star nods in each of the past seven years and All-NBA spots in five of those seasons.

The former No. 3 overall pick holds career averages of 27.9 points, 11.2 rebounds, 3.6 assists, and 1.7 blocks in 31.9 minutes per game across 433 outings (all starts) and finished in the top two of three consecutive MVP votes from 2021-23, winning the award in ’23.

Embiid appeared headed for another MVP-caliber season in 2023/24 before a knee injury sidelined him for most of the second half and limited him to 39 games. The 30-year-old averaged a career-high 34.7 points per game with an elite .529/.388/.883 shooting line when healthy, then won an Olympic gold medal in Paris with Team USA this summer.

Embiid’s new deal makes him the fifth member of the NBA’s $500MM+ club, according to Bobby Marks of ESPN, who notes (via Twitter) that the Sixers star trails only LeBron James, Stephen Curry, and teammate Paul George in career earnings, based on their past and current contracts. Kevin Durant is the fifth player whose career salaries will exceed $500MM by the end of his current deal.

Embiid’s extension caps a huge offseason of spending for the 76ers, who also signed Tyrese Maxey to a five-year, $203.8MM contract and George to a four-year, $211.6MM deal in free agency. In total, Philadelphia’s three stars are owed approximately $715MM.

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Pre-Camp Roster Snapshot: Atlantic Division

September 19th, 2024 at 10:19pm CST by Luke Adams

Over the next week, Hoops Rumors will be taking a closer look at each NBA team’s current roster situation, evaluating which clubs still have some moves to make and which ones seem most prepared for training camp to begin.

This series is meant to provide a snapshot of each team’s roster at this time, so these articles won’t be updated in the coming weeks as more signings, trades, and/or cuts are made. You can follow our roster counts page to keep tabs on teams’ open spots as opening night nears.

We’re beginning our pre-camp Roster Snapshot series today with the Atlantic Division. Let’s dive in…

Boston Celtics

The Celtics are at their 21-man limit, so this could be the roster they take into training camp during the first week of October. It also wouldn’t be a surprise if the 14 players on guaranteed contracts and three on two-way deals are the ones who are on Boston’s opening night roster.

Outside of the usual shuffling in and out of Exhibit 10 players, there are two minor storylines to keep an eye on here. One, will Walker – who has 322 NBA regular season games under his belt – make the team as a 15th man? And two, what are the Celtics’ plans for Jay Scrubb?

Scrubb was set to start the 2023/24 season on a two-way contract with the Celtics before he tore his ACL, resulting in his release just ahead of opening night. A report this offseason indicated the team plans to bring him back on an Exhibit 10 contract once he’s fully recovered from his ACL surgery. If he shows he’s back to 100% health, could he be in the mix for a two-way spot?

Brooklyn Nets

The Nets have several Exhibit 10 agreements to finalize and a pair of two-way slots to fill. It’s possible the club will leave those two-way spots open during the preseason and allow their camp invitees to compete for them (of the presumed Exhibit 10 signees, only Hayes is ineligible for a two-way). They may also keep their eye out for intriguing targets cut by other teams ahead of opening night.

Johnson ($250K) and Wilson ($75K) each have modest partial guarantees for now, but those guarantees will increase to $700K and $325K, respectively, if they make the opening night roster. While Wilson is the safer bet of the two to survive the preseason cuts, it’s possible both players will open the season with the club.

New York Knicks

The Knicks are well above the luxury tax line and may not feel compelled to carry a full 15-man standard roster into the regular season, but Morris and Shamet are quality NBA veterans who deserve a look. I’d be a little surprised if both are waived at the end of the preseason.

While more minor moves could happen before camp tips off, the Knicks would be at their 21-man preseason roster limit if they simply finalize their reported deal with O’Connell.

Philadelphia 76ers

There shouldn’t be any surprises in Philadelphia ahead of training camp, though the team still has some breathing room below the second tax apron to add a 15th man to its projected standard roster, if it so chooses.

If the Sixers intend to carry a 14-man roster into the season, filling out the preseason roster will likely just be a matter of signing two more camp invitees to Exhibit 10 contracts to get to 21 players.

Toronto Raptors

As is the case with the Knicks and O’Connell, the Raptors could finalize their training camp roster by simply signing Guerrier to his reported Exhibit 10 contract, though that doesn’t necessarily have to happen before camp begins. If the goal is simply to secure Guerrier’s G League rights, he could be signed-and-waived at any time before opening night.

Shuttling Exhibit 10 players on and off the roster could allow the Raptors to bring in another veteran free agent to compete with Fernando for the final spot on the standard 15-man roster, though there have been no reports so far suggesting that’s the plan.

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Philadelphia Mayor Announces Agreement With Sixers For New Arena

September 18th, 2024 at 5:00pm CST by Arthur Hill

A tentative agreement has been reached to keep the Sixers in Philadelphia, Mayor Cherelle L. Parker announced on Twitter (video link). The deal, which must be approved by city council, involves a new arena in Center City.

“This is a historic agreement,” Parker said. “It is the best financial deal ever entered into by a Philadelphia mayor for a local sports arena. I wholeheartedly believe it is the right deal for the people of Philadelphia.”

The new arena would be located on Market Street East, which Jeff Gammage, Sean Collins Walsh and Ximena Conde of The Philadelphia Inquirer describe as a “beleaguered” section of the city. Parker promises that the new facility will generate tax revenue for the city and local schools, create hundreds of new jobs and launch “the start of an unprecedented revival of Market Street.”

According to the Inquirer, Parker’s statement followed a meeting with leaders from Chinatown, who have opposed development in the area. Dozens of Chinatown residents gathered outside City Hall on Wednesday to protest the proposed arena, vowing that they will continue to fight it.

The agreement with the Sixers comes after an offer from New Jersey to provide $400MM in tax credits and build a multi-purpose arena once the lease at Wells Fargo Arena expires in 2031. The team currently rents the arena from Comcast Spectacor and has plans to build a $1.3 billion facility when a location is officially secured.

The Sixers released a statement expressing optimism about the new agreement, relays Kyle Neubeck of PHLY Sports (Twitter link).

“We are grateful to Mayor Parker and her team for their time and diligence in evaluating our proposal,” the statement reads, “and look forward to advancing to the next steps with City Council.”

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Former NBA Guard Mitchell Wiggins Dies At 64

September 13th, 2024 at 5:30pm CST by Rory Maher

Former NBA guard Mitchell Wiggins passed away this week at age 64 following an illness, his daughter Agney announced on social media, according to Jonathan Feigen of The Houston Chronicle (subscriber link).  The National Basketball Retired Players Association confirmed the news (via Twitter).

The 23rd overall pick of the 1983 draft, Wiggins played for the Bulls, Rockets and Sixers during the course of his six NBA seasons, averaging 10.0 PPG, 3.2 RPG and 1.6 APG in 389 games (20.8 MPG). In 1987, he was banned from the league for two-plus seasons for testing positive for cocaine, per Sam Goldaper of The New York Times.

After his NBA career ended in 1991/92, Wiggins starred for teams in Greece. He also played in France and the Philippines outside of the United States.

Wiggins, who won a silver medal at the 1982 FIBA world championships with Team USA, met his future wife Marita Payne while the two attended Florida State. She won a pair of silver medals in sprinting for Canada at the 1984 Olympics. They had six children together, with their youngest son being Warriors forward Andrew Wiggins, the No. 1 pick of the 2014 draft.

Andrew missed extended time during the past two seasons, particularly in 2022/23, for undisclosed personal reasons. Shams Charania of The Athletic reported in April 2023 (Twitter link) that Andrew’s absence was due to Mitchell’s health.

We at Hoops Rumors send our condolences to Wiggins’ family and friends.

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Atlantic Notes: Sixers, Batum, Dolan, Raptors, Nets

September 10th, 2024 at 10:59am CST by Luke Adams

The Sixers couldn’t have asked for a much better outcome after entering the summer armed with cap space than coming away with free agents like Paul George, Caleb Martin, Andre Drummond, Eric Gordon, and Reggie Jackson in addition to re-signing Tyrese Maxey, Kelly Oubre, KJ Martin, and Kyle Lowry.

Still, as Tim Bontemps of ESPN observed on the latest Hoop Collective podcast (YouTube link), there was one free agent the 76ers had hoped to re-sign who ended up leaving Philadelphia after seriously considering the possibility of a new deal with the team.

“The one thing you could say that’s a disappointment for the Sixers from the way everything went is they were really close to getting (Nicolas) Batum back,” Bontemps said. “He was going back and forth – at least from my understanding – (between) going back to Philly or going back to the team that traded him, the Clippers. I think family played a part in him going back to the Clippers. He was pretty comfortable out in L.A.”

Although the Sixers added Guerschon Yabusele late in free agency, there’s no obvious starting power forward on the roster, Bontemps notes, so a player like George, Martin, or Oubre will likely slot in as a somewhat undersized four.

“Obviously, (Batum) slotted in perfectly for them as a power forward,” Bontemps said. “… He was a critical piece for them last year. If he’s on the roster, things look a lot different.”

Here’s more from around the Atlantic:

  • According to Adrian Wojnarowski of ESPN (Twitter link), Knicks owner James Dolan continues to express his discontent with the NBA’s league office, announcing in a letter to his fellow team owners that he plans to vote against the league’s proposed operating budget for 2024/25, as well as the election of a new Board of Governors chair. Those votes will be conducted on Tuesday in New York. Dolan, who has made a habit of criticizing the NBA and commissioner Adam Silver, is citing a lack of transparency as the reason for his “no” votes, Wojnarowski adds.
  • Within a mailbag for The Athletic, Eric Koreen tackles questions about why the Raptors‘ front office is no longer looked up on as favorably as it once was, why Bruce Brown hasn’t been traded yet, and whether the team overpaid to retain Immanuel Quickley and Scottie Barnes, among other topics. Koreen acknowledges that Quickley’s five-year, $162.5MM contract (which includes another $12.5MM in incentives) is based on projection and comes with real risk, but says he doesn’t understand criticism of the deal for the five-year max deal for Barnes, who won a Rookie of the Year award and made an All-Star team in his first three NBA seasons.
  • C.J. Holmes of The New York Daily News (subscription required) considers whether Nic Claxton and Cam Thomas, among other Nets, will see their play-making responsibilities expand under new head coach Jordi Fernandez, based on how Fernandez’s previous offenses in Denver and Sacramento operated.
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DeMar DeRozan Discusses Free Agency, Decision To Join Kings

September 10th, 2024 at 9:26am CST by Luke Adams

Appearing on Podcast P with Paul George on Monday (YouTube link), new Kings forward DeMar DeRozan explained that finding an opportunity to contend for a championship was his top priority when he entered free agency this July, which is why he and the Bulls didn’t work out a new deal despite having previously expressed mutual admiration.

“I had a hell of a time in Chicago,” DeRozan said. “… Great city, great place. I think I was just looking for an opportunity just to win at a high level, wherever that was going to be. I think coming out of last season, that was my view and my approach on this upcoming season.”

DeRozan noted with a laugh that he had to wait for George to make his free agent decision before he was able to get clarity on his own options. After George agreed to sign with the 76ers, there were no contenders with cap room pursuing DeRozan, but Sacramento expressed interest in bringing him in and had the ability to make him a competitive contract offer via a sign-and-trade deal.

“Sac came about and they were showing interest. Like, real interest,” DeRozan said. “So when I sat back and looked at it and analyzed the team, great players, great coach. I just always remember the last couple years always seeing them light the damn beam and winning and all that.”

When George interjected to observe that the Kings have built “a movement” during the past couple years, snapping a lengthy playoff drought and gaining respectability under head coach Mike Brown, DeRozan agreed.

“That’s definitely one thing you always want to be a part of, is a contagious culture of an organization that wants to win,” DeRozan said. “When I looked at all that, I just felt like it fit. It was a big key piece that I felt like I could bring from a leadership standpoint and definitely from a skill standpoint that could kind of push us over the edge. It became more and more appealing as I weighed it. I kind of took a while to sign because I just wanted to make sure the next decision I made gave me the best opportunity to win. I’m definitely looking forward to it.”

Asked by George what other teams he considered in free agency, DeRozan identified Philadelphia as one possibility he looked at, though the Sixers may have been eliminated as an option after using most of their cap space to sign George. DeRozan said he also considered another Eastern Conference contender, along with his two hometown teams.

“I was thinking about Philly. Philly definitely was an option. Lakers was an option, always. Clippers was an option. And the Heat was an option,” DeRozan said. “I’d say those teams, for sure, were the real, legitimate options for me, that I was considering.”

The Lakers and Heat are operating right up against the second tax apron, so they would’ve needed to shed salary to acquire DeRozan unless he was willing to take a substantial pay cut.

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Guerschon Yabusele Appears To Be In Good Spot With Sixers

September 7th, 2024 at 8:31pm CST by Arthur Hill
  • Guerschon Yabusele is probably in a better spot with the Sixers than he would have been if he had tried to return to the Celtics, Brian Robb of MassLive states in a mailbag column. Yabusele signed a one-year deal with Philadelphia last month after a standout performance with France in the Olympics. Robb points out that his main competition for playing time as the backup power forward to Caleb Martin will be KJ Martin and Ricky Council. Robb also suggests the Celtics may have been more interested in Yabusele if they hadn’t reached new deals with backup big men Luke Kornet, Neemias Queta and Xavier Tillman.
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And-Ones: Eastern Contenders, Amazon, Tax Teams, Regrettable Contracts

September 6th, 2024 at 9:03pm CST by Luke Adams

Although the Sixers‘ projected starting lineup (Joel Embiid, Paul George, Tyrese Maxey, Kelly Oubre and Caleb Martin) is versatile defensively and features plenty of shooting, Martin projects to be the NBA’s shortest starting power forward this season, according to Tim Bontemps of ESPN, who suggests that Philadelphia could benefit from adding some more size to its frontcourt.

Philadelphia is one of five Eastern Conference threats to Boston discussed by Bontemps as he identifies one piece each of those teams is missing. Some of those pieces are positional — the Knicks could use another center, while the Cavs would like to add a two-way wing, Bontemps writes.

Other missing pieces are more general traits. For example, Bontemps says the Bucks are lacking “dynamism,” pointing to the team’s dearth of dunks by players besides Giannis Antetokounmpo last season as a sign that Milwaukee would benefit from adding more athletic, explosive pieces to its roster.

Here are a few more odds and ends from around the basketball world:

  • Although Amazon reportedly scrapped plans to make a $115MM investment in Diamond Sports Group, it sounds like the mega-corporation and the parent company of the Bally Sports networks are still in discussions. As Josh Kosman of The New York Post reports, Amazon is exploring a deal to stream Bally Sports broadcasts of 12 NBA teams for the coming season. According to Kosman, under the proposed deal, Bally Sports would continue its local broadcasts, but Amazon would give customers the option of paying approximately $20 per month to access their home team’s games through Prime Video.
  • Keith Smith of Spotrac takes a look at how the teams operating in tax apron territory approached the offseason, breaking down the moves they made and considering how the apron-related restrictions affected them.
  • While few teams have a contract as onerous as Zach LaVine‘s on their books, the Bulls aren’t the only club carrying a deal they may regret. Eric Pincus of Bleacher Report identifies one possible such contract on the books for all 30 teams, ranking each one out of 10 in terms of “potential regret level.” LaVine’s deal is the only one that scores a 10/10, but Pincus gives a 9/10 to Bradley Beal (Suns), Jordan Poole (Wizards), and Michael Porter Jr. (Nuggets).
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Sixers Notes: New Jersey, Arena, Andonian, Jackson

September 5th, 2024 at 8:59pm CST by Tristan Tucker

In an effort to lure the Sixers into relocating to New Jersey, the state is offering up to $400MM in tax credits and is floating ideas for a new mixed-use arena on the waterfront, according to The Associated Press.

“The reality is we are running out of time to reach an agreement that will allow the 76ers to open our new home in time for the 2031-32 NBA season,” a team spokesperson wrote in an email. “As a result, we must take all potential options seriously, including this one.”

The Sixers called the offer “thoughtful and compelling,” according to the report.

This comes on the heels of the team stating its plans to exit Wells Fargo Arena by 2031 when the lease is up. The team and the City of Philadelphia are also currently negotiating over a planned $1.3 billion arena near Chinatown.

However, a new proposal would turn that space — the Fashion District — into a biomedical research facility, which would impact the Sixers’ plans for a new arena. According to a report from The Philadelphia Inquirer’s Jeff Gammage, the plan is for the science center to provide year-round work and jobs to the area, as opposed to the 150 events that would be planned in a new arena.

As we’ve relayed, citizens have concerns about the impact a new arena and housing would have on the area and how it would affect the community through gentrification.

We have more from the Sixers:

  • In response to New Jersey courting the Sixers to move, Philadelphia Mayor Cherelle L. Parker said keeping the team in Philadelphia “is a priority,” according to The Philadelphia Inquirer’s Anna Orso. “But we have a process here in the city of Philadelphia that we are following, and we will allow it to play itself out,” Parker said.
  • The Sixers are hiring Grizzlies executive Ariana Andonian as vice president of player personnel, according to ESPN’s Adrian Wojnarowski (Twitter link). Andonian was included on The Athletic’s NBA “40 under 40” list this offseason and has been with the Grizzlies since 2020. “Those who worked with her rave about her attention to detail and scouting acumen,” Vorkunov wrote.
  • Philadelphia shook up its roster in a major way this offseason, adding a star player in Paul George and key role players like Caleb Martin. The team also added Reggie Jackson as a backup guard. In a subscriber-only story, Gina Mizell of The Philadelphia Inquirer spoke to Nuggets reporter Chris Dempsey about the addition of Jackson and what fans can expect from the veteran. Dempsey says Jackson was a total pro who never complained about his role and did whatever it took to help the team win.
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