Transactions Rumors | Hoops Rumors

Desmond Bane Signs Five-Year Max Extension With Grizzlies

July 8th, 2023 at 3:41pm CST by Alex Kirschenbaum

JULY 8: The Grizzlies have officially completed Bane’s extension, the team announced in a press release (via Twitter).

JUNE 30: The Grizzlies are signing shooting guard Desmond Bane to a five-season maximum rookie scale extension, agents Jim Tanner, Max Wiepking and Terrence Felder tell Adrian Wojnarowski of ESPN.

While Wojnarowski says the deal will be worth $207MM, that amount is a projection, as the exact sum will be tied into the league’s salary cap.

Based on Woj’s wording in his reports on the new extensions for Bane and Pacers All-Star point guard Tyrese Haliburton, it sounds as if Bane’s deal will likely not include the Rose rule escalator, which would have allowed him to qualify for a starting salary worth up to 30% of the cap.

If that’s the case, Bane’s new deal will feature a starting salary worth 25% of the 2024/25 salary cap when it goes into effect next year.

As Damichael Cole of The Memphis Commercial tweets, Bane’s new agreement will now leapfrog All-Star Memphis point guard Ja Morant‘s contract as the priciest in team history. Morant agreed to his five-year, maximum-salary rookie scale extension exactly one year ago.

Bane has quickly outperformed his selection as the No. 30 pick out of TCU in the 2020 draft. Last season, the 25-year-old averaged a career-high 21.5 PPG on .479/.408/.883 shooting splits. He also chipped in 5.0 RPG, 4.4 APG and 1.0 SPG in his 58 healthy games with Memphis. Thanks to the strong play of Morant, Bane and Defensive Player of the Year Jaren Jackson Jr., the Grizzlies finished with the West’s second seed for the second straight season, this time with a 51-31 record.

Injuries to starting center Steven Adams and reserve big man Brandon Clarke greatly impeded Memphis’ frontcourt during its first-round playoff series against the seventh-seeded Lakers, and the Grizzlies fell in six games.

Lakers Sign Jalen Hood-Schifino, Maxwell Lewis

July 8th, 2023 at 1:29pm CST by Luke Adams

The Lakers have officially locked up their two 2023 draft picks, announcing today in a press release that they’ve signed Jalen Hood-Schifino and Maxwell Lewis to their first NBA contracts (Twitter link via Khobi Price of The Southern California News Group).

The No. 17 overall pick, Hood-Schifino is in line for a four-year contract worth up to $17.9MM, including $3.7MM in year one, assuming he signs for 120% of the standard rookie scale, which virtually every first-rounder does.

The 6’6″ wing, who spent last season at Indiana, was named the Big Ten Rookie of the Year after averaging 13.5 points, 4.1 rebounds, and 3.7 assists in 33.1 minutes per game across 32 contests (all starts). He declared for the draft as an early entrant after a strong freshman year.

Lewis, meanwhile, was the No. 40 overall pick, so the details of his deal aren’t yet known. However, it’s very likely that the Lakers used the new second-round pick exception to sign him to a three- or four-year contract that will include a team option on the final season.

Lewis spent two college seasons at Pepperdine before entering the draft following his sophomore year this spring. In 2022/23, he put up 17.1 points per night on .468/.348/.787 shooting, adding 5.7 RPG and 2.8 APG in 31 games (31.4 MPG).

With Hood-Schifino and Lewis under contract, the Lakers are carrying 13 players on standard deals and three on two-ways. They’ll make at least one more roster addition, but won’t necessarily carry a full 15-man standard roster to start the 2023/24 regular season.

As our list of draft pick signings shows, 43 players from the 2023 draft class have now officially signed with their respective teams.

Draymond Green Re-Signs With Warriors On Four-Year Deal

July 8th, 2023 at 1:12pm CST by Rory Maher

JULY 8: The Warriors have officially re-signed Green, the team announced today in a press release (Twitter link).

JUNE 30: Draymond Green is re-signing with the only club he’s ever known, agreeing to a four-year, $100MM contract to remain with the Warriors, sources tell Shams Charania of The Athletic (Twitter link).

The final year of the deal will be a player option, Charania adds. Marc Stein reported shortly before free agency officially opened that $100MM to return to Golden State was looking likely for Green. He previously declined his $27,586,224 player option for 2023/24 in order to sign a long-term deal, which has come to fruition.

Green, 33, is one of the most accomplished players of the 2023 free agent class. The 2016/17 Defensive Player of the Year, Green is an eight-time All-Defensive Team member, four-time All-Star, and two-time All-NBA member.

More importantly, he’s a four-time NBA champion, spearheading Golden State’s defense during the team’s dynastic run over the better part of the past decade. You can easily make the case that he’s been the most impactful defensive player of his generation.

The forward/center is also an accomplished play-maker, holding a career average of 5.6 APG. In 73 games last season, he averaged 8.5 PPG, 7.2 RPG, 6.8 APG, 1.0 SPG and 0.8 BPG on .527/.305/.713 shooting in 31.5 MPG.

According to Anthony Slater of The Athletic (Twitter link), the Warriors will save $43MM toward the luxury tax in ’23/24 as part of the deal. Green will earn $22.3MM next season, with annual raises in subsequent seasons.

Jazz Trade Damian Jones To Cavaliers

July 8th, 2023 at 12:39pm CST by Luke Adams

JULY 8: The trade is official, according to the Cavaliers, who announced in a press release that they sent cash to the Jazz to complete the deal.

JULY 1: The Jazz have agreed to trade center Damian Jones to the Cavaliers, reports Adrian Wojnarowski of ESPN (Twitter link).

It’s not yet clear what Utah will receive in the deal, but according to Wojnarowski (Twitter link), Cleveland is acquiring Jones without sending out a player of its own. That’s possible because the big man is in the second year of a two-year, minimum-salary contract, so his salary can be taken on using the minimum salary exception.

Jones picked up his $2,586,665 player option for the 2023/24 season last week.

A former first-round pick, Jones signed with the Lakers last offseason after playing for five different teams in his first six NBA seasons, then was sent to the Jazz in the three-team trade-deadline deal involving D’Angelo Russell, Russell Westbrook, and Mike Conley.

Jones saw more regular playing time in Utah than he had in Los Angeles, averaging 4.6 points and 3.5 rebounds in 15.8 minutes per contest in his 19 appearances for the Jazz. In total, he played in 41 regular season games and averaged 3.5 PPG and 3.0 RPG in 11.6 MPG.

The Cavaliers have been active in the last 24 hours, but their moves have focused on the wing (Caris LeVert, Max Strus) and forward (Georges Niang) spots. Jones will provide some additional size in the frontcourt behind starting bigs Jarrett Allen and Evan Mobley.

Wizards Sign Kyle Kuzma To Four-Year Contract

July 8th, 2023 at 12:21pm CST by Luke Adams

JULY 8: The Wizards have officially re-signed Kuzma, per Josh Robbins and Shams Charania of The Athletic (Twitter link).

According to The Athletic’s duo, Kuzma’s four-year deal will actually be worth $90MM guaranteed, with $6MM in unlikely incentives tied to team performance. It won’t contain any team or player options, but it will feature a 15% trade kicker, Robbins and Charania add (via Twitter). It will also have a descending structure, starting at $25.6MM and eventually dipping to $19.4MM by year four.

JUNE 30: The Wizards and forward Kyle Kuzma have agreed to a four-year, $102MM deal that will keep him in Washington, agent Austin Brown tells Adrian Wojnarowski of ESPN (Twitter link).

Kuzma is coming off a career year, averaging 21.2 points, 7.2 rebounds and 3.7 assists on .448/.333/.730 shooting in 64 games last season (35.0 minutes). His points, assists and minutes per game all represented career highs.

A former late first-round pick (27th overall in 2017), Kuzma won a championship with the Lakers in 2019/20, having spent his first four seasons in Los Angeles. He was sent to the Wizards in the summer of 2021 as part of the Russell Westbrook trade.

It’s an interesting transaction for both Kuzma and the Wizards, who have drastically remade their roster after trading Bradley Beal (to Phoenix) and Kristaps Porzingis (to Boston). Kuzma was looking for a major payday after declining his $13MM player option for 2023/24, and he found a nine-figure deal to remain with Washington.

Kuzma, alongside former Warriors guard Jordan Poole (whom the team acquired for Chris Paul), figures to be a major part of the Wizards’ offense in ’23/24. When engaged, he’s also a solid defensive player, and is still developing in other areas.

Still, it remains to be seen whether or not Kuzma will be in Washington’s long-term plans. The team’s front office — led by president Michael Winger — was completely revamped, so time will tell how they’ll choose to build out the roster.

Rory Maher contributed to this story.

Paul Reed Receives Offer Sheet From Jazz

July 8th, 2023 at 10:32am CST by Arthur Hill

Restricted free agent Paul Reed has signed an offer sheet with the Jazz worth $23MM over three years, according to ESPN’s Adrian Wojnarowski. The Sixers will have until 11:59 p.m. on Sunday to match the offer if they want to keep Reed.

Sources tell Wojnarowski that the offer contains a unique provision that guarantees the first season of the new contract, while the other two will only become guaranteed if his team reaches the conference semifinals in 2023/24. That would total $15.7MM over two years, and Wojnarowski points out that Philadelphia is much more likely than Utah to advance in the playoffs during the upcoming season.

Woj also notes that the Sixers will exceed the $165MM luxury tax threshold if they match Reed’s offer, which would cost them an estimated $14MM in tax penalties. Reed would have the option to veto trades for a year if he stays with Philadelphia.

The Jazz will use their $7.7MM room exception to complete Reed’s offer sheet, tweets Bobby Marks of ESPN. He points out that Utah used its cap space in its trade for John Collins and its renegotiation-and-extension with Jordan Clarkson, whose salary for 2023/24 rose from $14.3MM to $23.5MM.

Reed saw his role expand in his third NBA season as he averaged 4.2 points and 3.8 rebounds in 69 games. He emerged as the primary backup to Joel Embiid as the season wore on and appeared in all 11 playoff contests.

The Sixers are re-signing Montrezl Harrell and are adding free agent center Mohamed Bamba, so Reed’s role might not be as secure if he stays in Philadelphia for another season.

Blazers Match Mavericks’ Offer For Matisse Thybulle

July 8th, 2023 at 5:35am CST by Arthur Hill

JULY 8: NBA teams were notified on Friday night that the Blazers officially matched the Mavs’ offer sheet for Thybulle, reports Marc Stein (via Twitter).

JULY 6: The Trail Blazers have elected to match the three-year, $33MM offer sheet that Matisse Thybulle received from the Mavericks, tweets ESPN’s Adrian Wojnarowski.

The offer sheet was signed and submitted to Portland Thursday morning, according to Wojnarowski (Twitter link). The new Collective Bargaining Agreement gives teams just one day to decide whether to match offer sheets if they’re received before noon.

Thybulle’s new deal contains an $11.5MM player option for the third season, per Wojnarowski. It also features a 15% trade kicker, tweets Chris Haynes of Bleacher Report.

The Blazers will keep the 26-year-old swingman, who was acquired in a February trade with the Sixers. Thybulle was a restricted free agent after not working out a contract extension with Philadelphia last summer.

Thybulle is a defensive standout, with two appearances on the All-Defensive team in his first four seasons. He struggled to score with the Sixers, although his numbers improved after coming to Portland, where he became a full-time starter and averaged 7.4 PPG in 22 games while shooting 43.8% from the field and 38.8% from three-point range.

As ESPN’s Bobby Marks details (via Twitter), Thybulle will have the right to veto any trade for the next year and cannot be dealt to the Mavs during that time. He will become trade-eligible on January 15.

According to Marks, the Blazers are $3.4MM below the luxury tax line with 13 players under standard contract, while the Mavs are $9MM below the tax and still have access to the non-taxpayer mid-level exception, which starts at $12.4MM in 2023/24.

The move is a setback for Dallas, which is hoping to remake its supporting cast around Luka Doncic and Kyrie Irving. The Mavericks are acquiring Grant Williams from the Celtics in a sign-and-trade deal and may search for another defensive-minded wing on the free agent market now that Thybulle is unavailable.

Mavericks Re-Sign Kyrie Irving To Three-Year Contract

July 7th, 2023 at 10:34pm CST by Luke Adams

JULY 7: Irving’s new contract with the Mavericks is official, the team announced (via Twitter).

JUNE 30: The Mavericks and star guard Kyrie Irving have reached an agreement on a new contract within the first hour of free agency, reports Shams Charania of The Athletic (Twitter link).

According to Charania, Irving will sign a three-year, $126MM contract that will include a player option in the final season. That’s an average of $42MM annually, which is a little below Irving’s 2023/24 maximum of $47.6MM.

While Irving is certainly enigmatic and has missed an alarming amount of games over the past four seasons, there’s no question that he’s an elite scorer and ball-handler when he’s on the court, having averaged 27.1 PPG, 5.8 APG, 4.9 RPG and 1.3 SPG on .491/.395/.914 shooting in 163 games (36.0 MPG) over that span.

Dallas acquired Irving in February after he requested a trade ahead of the deadline. Considering the Mavs gave up two solid role players (Spencer Dinwiddie and Dorian Finney-Smith) as well as an unprotected 2029 first-round pick to land the 31-year-old, they were always viewed as the frontrunner to re-sign the veteran guard.

A former first overall pick, Irving has earned numerous accolades during his career, including eight All-Star nods, three All-NBA appearances, a Rookie of the Year award, and a championship trophy with the Cavs in 2016.

It will be interesting to see how the Mavs build out the rest of their roster around Luka Doncic and Irving, two incredible offensive talents who don’t always put forth much effort defensively.

Rory Maher contributed to this story.

Bucks Sign Second-Rounder Andre Jackson Jr.

July 7th, 2023 at 9:38pm CST by Rory Maher

The Bucks have officially signed second-round pick Andre Jackson Jr., the team announced in a press release (Twitter link via Eric Nehm of The Athletic).

While the terms of the deal were not disclosed, Jackson is not listed as having inked a two-way contract on NBA.com’s official transaction log, which suggests Milwaukee signed him to a standard contract, likely using the new second-round pick exception.

Jackson, who helped UConn win the championship as a junior last season, was the 36th overall pick in the 2023 draft last month. The 6’6″ guard averaged 6.7 points, 6.2 rebounds, 4.7 assists and 1.1 steals on .432/.281/.646 shooting in 36 games (29.1 MPG) for the Huskies in 2022/23.

The Bucks acquired 36th pick in a draft-night trade with the Magic, sending back a 2030 second-rounder and cash.

Michael Scotto of HoopsHype was first to report that Jackson was a candidate for a standard roster spot. The 21-year-old made his NBA debut with the Bucks on Friday night in Las Vegas Summer League, finishing with nine points, six assists, three rebounds, two blocks and a steal against Denver.

Hawks Trade John Collins To Jazz For Rudy Gay, Second-Rounder

July 7th, 2023 at 7:37pm CST by Rory Maher

July 7: The trade is official, both teams announced. The second-rounder heading to Atlanta is conditional. It will be Memphis’ 2026 pick and will only convey if it lands between 31 and 42.

June 26: The Hawks are trading forward John Collins to the Jazz in exchange for forward Rudy Gay and a second-round pick, according to ESPN’s Adrian Wojnarowski.

Gay had a $6.48MM player option for 2023/24 that he exercised as part of the deal, his agent Sam Permut of Roc Nation Sports tells Wojnarowski (via Twitter).

Collins had been in trade rumors for multiple seasons, and now he’s finally on the move. Utah will be acquiring Collins using cap room, so the deal can’t be officially completed until July 6.

It’s essentially a salary-dump move to dip under the luxury tax line for Atlanta, much like the Kevin Huerter trade last offseason (the Hawks did get a protected first-rounder for Huerter, but it was mostly to avoid the luxury tax). Collins is owed $78MM over the next three seasons, including a $26.58MM player option in ’25/26.

In addition to significant financial flexibility, the Hawks will also generate a $25.34MM trade exception — equivalent to Collins’ salary for ’23/24 — as part of the deal, Wojnarowski reports. That will be the league’s new largest trade exception, surpassing the $18.1MM TPE the Nets created as part of the Kevin Durant deal in February.

Bobby Marks of ESPN clarifies (via Twitter) that the Collins TPE will be created by Atlanta absorbing Gay’s salary into an existing trade exception, worth $6.29MM. As Anil Gogna of Thread Sports Management tweets, the new CBA has a $250K allowance for TPEs (as opposed to $100K in the old CBA), which is enough to accommodate Gay’s deal.

It’s an interesting buy-low acquisition for the Jazz, who already have Lauri Markkanen, Walker Kessler, Kelly Olynyk and first-round pick Taylor Hendricks in their frontcourt.

Collins had a down season in ’22/23, averaging 13.1 PPG and 6.5 RPG on .508/.292/.803 shooting in 71 games (30.0 MPG). Still, he’s only 25 years old and holds career averages of 15.8 PPG and 8.0 RPG on .551/.356/.783 shooting across 364 games (29.2 MPG). The Jazz will be hoping he can rebuild his value under head coach Will Hardy.

According to Wojnarowski, the two teams have discussed “numerous iterations” of a Collins trade for “over a year,” but Atlanta finally decided to move on due to a salary-cap crunch. The Hawks are expected to remain active in trade conversations and GM Landry Fields has ownership’s permission to go above the tax threshold if it improves the roster, says Woj.

Atlanta’s newfound financial flexibility could be used to negotiate long-term extensions for Dejounte Murray, Onyeka Okongwu and Saddiq Bey, whom Wojnarowski refers to as “core players.”

Gay was a very good player for a long time, but age and injuries seemed to catch up with him last season. He posted career lows in points (5.2), rebounds (2.9) and minutes (14.6) per game in 56 appearances. He’s about to enter his 18th season and will turn 37 in August.