WEDNESDAY, 1:33pm: Lewis has been in contact with at least three teams on his list so far, according to Alex Kennedy of HoopsWorld — the Lakers, Knicks, and Heat.
TUESDAY, 3:37pm: Having cleared waivers, Rashard Lewis will likely be looking to sign with one of five teams, according to the New York Post's Marc Berman. Berman names the Knicks, Heat, Spurs, Hawks, and Lakers as the clubs on Lewis' "short list."
The Heat have had multiple conversations with Tony Dutt, the agent for Rashard Lewis, about bringing the 6'10" long-range shooter aboard with the NBA champions, Ira Winderman of the South Florida Sun Sentinel reports. Dutt says money is not a primary issue for his client, who will receive the $13.7MM guaranteed portion of his contract for next season after he was waived by the Hornets this weekend.
As the first day of free agency continues, reports continue to pour in on teams reaching out to certain players, perhaps to schedule meetings or make contract offers. We've rounded up plenty of those items already today, but we'll use this space to follow a few more updates, as they come in….
SATURDAY, 6:17pm: The Hornets announced that they have bought out Lewis.
TUESDAY, 11:02pm: Rashard Lewis will be bought out by the Hornets and is set to become an unrestricted free agent, tweets Alex Kennedy of HoopsWorld. Lewis is under contract for over $22MM in 2012/13, but only about $13.7MM is guaranteed, so New Orleans will shave nearly $9MM off of its cap figure for next year.
The Wizards and Hornets finalized the first trade of draft season this afternoon, with Emeka Okafor and Trevor Ariza heading to Washington in exchange for Rashard Lewis and a second-round draft pick. The deal could be a win-win, as the Wizards acquire two solid veteran rotation players that could help them become a playoff club in the near future, while the Hornets clear two expensive contracts from their books and create excellent long-term cap flexibility.
If I had to pick a winner, I like the Hornets' side a little more. Clearing out their two biggest contracts without giving up any other assets means the Hornets will be in great position to build around Anthony Davis, Eric Gordon, and the No. 10 pick in this year's draft, and could be a player on the free agent market this year or next. For Washington, I'm not sure if Okafor and Ariza are enough to put the team over the top in the short-term, and their contracts will make it difficult to make any other impact moves.
Here are a few more reactions and quotes on the deal….
The New Orleans Hornets have traded Emeka Okafor and Trevor Ariza to the Washington Wizards in exchange for Rashard Lewis and the No. 46 pick in the draft, reports Jonathan Givony of DraftExpress.com (via Twitter). The Wizards have officially announced the swap in a press release.
Of the nine players the Wizards have money committed to for 2012/13, six are on rookie contracts. Nene, Rashard Lewis, and Andray Blatche are the only veterans on the roster, and Washington is expected to part ways with two of them this summer. According to Michael Lee of the Washington Post, the Wizards will try to move Lewis and Blatche via trade prior to the draft, rather than paying them not to play for the team.
Rashard Lewis has one year remaining on the massive contract he signed in July 2007, but it's very unlikely he'll return to Washington in 2012/13. Michael Lee of the Washington Post says the Wizards will likely "take every step to part ways" with Lewis this summer.
While it's clear the Wizards would like to shed Lewis' contract, there isn't necessarily one obvious solution for how to do so. Lewis' $22.7MM salary for next season is only partially guaranteed for $13.7MM, so Washington could save $9MM by simply releasing the 32-year-old by June 30th. The Wizards have also yet to use their amnesty provision and could eliminate Lewis' remaining $22.7MM from their cap entirely by amnestying him.
According to Lee, however, the Wizards view Lewis as having trade value and are expected to pursue deals around the time of the draft. Lewis' contract will be next year's largest expiring deal and could represent a chance for a team to clear significant cap room in preparation for the CBA's more punitive cap and tax restrictions in 2013/14, says Lee.
While it's certainly worth exhausting trade possibilities in case there's a team that would have interest in Lewis and his expiring deal, I have my doubts that Washington will find a suitor. Players in the final years of large contract this season, such as Antawn Jamison and Chris Kaman, didn't seem to attract significant interest, and Lewis has an even bigger price tag, which will make it challenging to find a trade partner.
As I wrote when I previewed the Wizards' offseason, I view Andray Blatche as a more logical candidate for the amnesty provision, and expect Washington to simply buy Lewis out prior to June 30th, saving $9MM. For Lewis' part, he still expects to be a contributor, wherever he plays next year.
"I still feel like I got a lot of basketball in me," Lewis said. "I know I can still play at a high level. I know I can still run and jump. It’s just getting healthy."
On this day in 1996, the Bulls defeated the Bullets 103-93 to finish the season with a 72-10 record, which eclipsed the 1972 Lakers‘ 69-13 mark. The W also earned Chicago their 33rd road victory, the most ever in a season by an NBA team. Here’s a look at today’s items from around the Association..
Let's take a look around the Southeast Division as the Louisville Cardinals knocked off the NBA lottery pick-laden Florida Gators to punch their ticket to the Big Easy for the Final Four.