Transactions Rumors | Hoops Rumors

Mavericks Sign Dereck Lively II To Rookie Contract

July 8th, 2023 at 10:08pm CST by Arthur Hill

Dereck Lively II has inked his rookie scale contract with the Mavericks, the team announced along with a video of the signing.

As the 12th pick in this year’s draft, Lively is eligible to receive $4,775,640 in his first season and can make $22,282,690 over the four-year contract, as our breakdown of rookie scale salaries shows.

The Duke center took advantage of a strong showing during the pre-draft process to rise up draft boards. Dallas had considered taking him at No. 10, but was able to trade down two spots and still get its preferred selection.

That trade sent Davis Bertans into Oklahoma City’s cap room, so it couldn’t be completed until after the July moratorium, which likely delayed Lively’s signing by a few days.

Lively was one of the top recruits out of high school last year, but injuries slowed him down during his lone season at Duke. He earned spots on the ACC’s All-Freshman and All-Defensive teams while averaging 5.4 points and 5.0 rebounds in 32 games.

Dallas’ No. 24 overall pick, Olivier-Maxence Prosper, is one of three first-rounders who have yet to officially sign their rookie contracts.

Second-Round Pick Leonard Miller Signs With Timberwolves

July 8th, 2023 at 9:50pm CST by Arthur Hill

The Timberwolves have reached a four-year deal with second-round pick Leonard Miller that contains a full guarantee on the first two seasons and a partial guarantee beyond that, tweets Darren Wolfson of 5 Eyewitness News. Wolfson doesn’t provide dollar amounts for the contract, but the signing is also confirmed by NBA.com’s transactions page.

Miller was selected by the Spurs with the 33rd pick in last month’s draft before being traded to Minnesota for future draft assets. He was considered a potential first-round selection after a strong performance with G League Ignite.

The Wolves’ signings of Shake Milton and Troy Brown are also official, according to the transactions log. Minnesota used portions of its mid-level exception to add both players.

Milton, who spent his first five NBA seasons with the Sixers, reportedly received a two-year, $10MM contract, while Brown, a part-time starter with the Lakers last season, will get $8MM over two years with a team option on the final year.

The re-signing of shooting guard Nickeil Alexander-Walker, who is being paid $9MM for two years, still isn’t official.

Anthony Edwards Signs Five-Year Max Extension With Timberwolves

July 8th, 2023 at 8:06pm CST by Luke Adams

JULY 8: The extension is official, the Wolves confirmed on Twitter (video link).

JULY 3: The Timberwolves and rising star Anthony Edwards have reached an agreement on a five-year, designated rookie extension that will pay him the maximum salary, agents Bill Duffy and Joe Branch tell Adrian Wojnarowski of ESPN (Twitter link).

Wojnarowski reports that the deal can be worth up to $260MM, though that would hinge on Edwards making an All-NBA team in 2024 and the salary cap rising by the maximum 10% for the 2024/25 league year. With a 10% cap increase and no All-NBA spot for Edwards, the five-year extension would be worth $217MM.

It will be a straight five-year contract with no player or team option, reports Jon Krawczynski of The Athletic (Twitter link).

“I’m humbled, appreciative and excited to remain in Minnesota as a part of this incredible Timberwolves organization,” Edwards said in a statement to Wojnarowski (Twitter link). “It’s amazing to see where hard work can take you.”

The No. 1 overall pick in the 2020 draft, Edwards has increased his scoring average and efficiency in each of his NBA seasons to date. He averaged 24.6 points, 5.8 rebounds, 4.4 assists, and 1.6 steals with a .459/.369/.756 shooting line in 79 games (36.0 MPG) in 2022/23, earning his first All-Star nod.

Even though the Wolves also have Karl-Anthony Towns and Rudy Gobert on maximum-salary contracts, there was a strong belief entering this offseason that Edwards, the player the franchise will likely build around for years to come, would get a max deal of his own. He looks poised to officially sign it as soon as he becomes eligible to do so later this week.

Edwards will play one more season on his rookie scale contract, which will pay him in $13.5MM in 2023/24, before he receives a massive raise. If the cap increases by 10% to $149.6MM in ’24/25 and Edwards makes an All-NBA team, he, Towns, and Gobert would earn a combined $141MM that season, and that number would only increase further in ’25/26.

While those three max deals – and a potential extension for Jaden McDaniels – figure to hamper the Timberwolves’ financial flexibility going forward, any eventual moves made to address that issue are more likely to involve Towns or Gobert than Edwards.

Edwards is the third 2020 first-rounder to agree to a “Rose Rule” rookie scale extension that can start at up to 30% of the cap instead of 25%. Tyrese Haliburton of the Pacers and LaMelo Ball of the Hornets will also reportedly sign those deals, while Desmond Bane of the Grizzlies is getting a rookie scale extension worth the standard 25% max.

Knicks Sign Donte DiVincenzo To Four-Year Deal

July 8th, 2023 at 7:48pm CST by Luke Adams

JULY 8: The DiVincenzo signing is officially, the Knicks announced (via Twitter). “We are excited to add Donte to the Knicks family and view him as a perfect fit to the culture we continue to establish,” said team president Leon Rose. “Winning is in his DNA and he will provide us with versatility, three-point shooting and defensive tenacity.”

JULY 1: Donte DiVincenzo is headed to New York, according to Adrian Wojnarowski of ESPN (Twitter link), who hears from agent Jason Glushon that DiVincenzo has agreed to sign a four-year, $50MM contract with the Knicks. The deal won’t include any options, per Fred Katz of The Athletic (Twitter link).

The Knicks are over the cap, so they’ll sign DiVincenzo using the mid-level exception. The deal will reunite the former Villanova Wildcat with his college teammates Jalen Brunson and Josh Hart.

DiVincenzo became a free agent this week after deciding not to pick up a $4.7MM player option to remain in Golden State. The Warriors didn’t have the ability to make a competitive offer for him due to CBA restrictions, so he became one of the most popular mid-level targets on the open market.

The 26-year-old appeared in a career-high 72 games, including 36 starts, in 2022/23 after signing with the Warriors. He averaged 9.4 points, 4.5 rebounds, 3.5 assists and 1.3 steals in 26.3 minutes per game. The 6’4″ guard, who made a career-best 39.7% of his 3-point attempts, also played in 13 postseason games this spring.

DiVincenzo will be another option on the wing for head coach Tom Thibodeau and the Knicks, who are finalizing a deal to trade Obi Toppin to Indiana. That move will help open up additional room below the luxury tax, allowing New York to give more of its mid-level to DiVincenzo.

According to Bobby Marks of ESPN (Twitter link), after accounting for DiVincenzo, New York’s team salary projects to be about $4MM below the tax line with 14 players under contract. As a result of using the non-taxpayer mid-level exception, the Knicks will be hard-capped at the $172.3MM tax apron in 2023/24.

DiVincenzo was the No. 20 player on our list of 2023’s top 50 free agents.

Rockets Acquire Dillon Brooks In Five-Team Deal

July 8th, 2023 at 7:03pm CST by Luke Adams

JULY 8: The complex five-team trade that sends Brooks to Houston has been finalized, the Rockets announced in a press release The breakdown of the deal, which combined several separate trade agreements, is as follows:

Rockets acquire Brooks (via sign-and-trade), the Clippers’ 2026 second-round pick, the Grizzlies’ 2027 second-round pick (from Clippers), and the draft rights to Alpha Kaba (from Hawks).
Hawks acquire Usman Garuba, TyTy Washington, the Timberwolves’ 2025 second-round pick (from Rockets), the Rockets’ 2028 second-round pick, and cash (from Thunder).
Grizzlies acquire Josh Christopher.
Thunder acquire Patty Mills, a 2024 second-round pick (from Rockets), the Rockets’ 2029 second-round pick, and the Rockets’ 2030 second-round pick.
Clippers acquire Kenyon Martin Jr.

In a separate deal, Oklahoma City will ship Mills to Atlanta in exchange for Garuba, Washington, Rudy Gay and a second-round pick.

6:04pm: The Rockets will acquire Brooks via sign-and-trade, generating a trade exception for the Grizzlies, Wojnarowski confirms (via Twitter).

Sources tell Kelly Iko of The Athletic (Twitter link) that Houston is trading Josh Christopher to Memphis. Although Iko doesn’t specify it will be part of a Brooks sign-and-trade, that seems logical.

The Grizzlies’ trade exception for Brooks would be $11.4MM due to base year compensation rules, notes Yossi Gozlan of HoopsHype (Twitter link). If Christopher heads to Memphis in the deal, that TPE would shrink to $8.9MM, Gozlan adds.

5:20pm: The Rockets and Brooks have agreed to a four-year deal worth $80MM, agent Mike George tells Adrian Wojnarowski of ESPN (Twitter link).

The deal will have a descending structure, tweets Wojnarowski. It will be fully guaranteed, with no player or team option, per Kelly Iko of The Athletic (Twitter link).

As with VanVleet, Houston’s offer in order to secure a commitment ended up being for more years and more money than initially anticipated.

JULY 1, 4:35pm: The Rockets are close to reaching a contract agreement with unrestricted free agent Dillon Brooks, reports Shams Charania of The Athletic (Twitter link).

While Houston has the cap room necessary to sign Brooks outright, the team has been engaged in trade talks around the league, according to Charania, who says a sign-and-trade with the Grizzlies is a possibility if the Rockets reach a deal with the veteran forward.

Brooks was frequently linked to the Rockets in the days leading up to free agency. One report indicated that Houston was preparing to offer him a deal in the range of $14-16MM annually, while another stated the team had a meeting lined up for Friday or Saturday with the 27-year-old.

Brooks is a talented perimeter defender who earned All-Defensive Second Team honors this spring, but he has become an increasingly erratic shooter, making a career-worst 39.6% of his field goal attempts in 2022/23. His three-point percentage dipped to 32.1% on 5.6 attempts per game during the last two seasons after he converted 35.3% of 4.5 threes per game in his first four seasons, all with the Grizzlies.

On top of his offensive struggles, Brooks’ outsized personality and aggressive playing style have gotten him into trouble both on the court and in interviews off it. He received three one-game suspensions this season, once for an on-court altercation with Cavaliers star Donovan Mitchell and twice for accumulating so many technical fouls.

Brooks ultimately wore out his welcome in Memphis, with a report after the season indicating that the Grizzlies didn’t plan to bring him back “under any circumstances.” His performance during the team’s first-round loss to the Lakers was reportedly considered to be a breaking point. Brooks referred to Lakers star LeBron James as “old” following Memphis’ Game 2 win, suggesting the NBA’s all-time leading scorer was well past his prime.

He was then ejected from Game 3 for hitting James in the groin, surrendered a pair of key baskets to LeBron in a Game 4 loss, and was eventually fined $25K for declining to speak to reporters after three games of the series (all losses). Offensively, Brooks shot just 31.2% from the field and 23.8% on three-pointers across six playoff games.

A change of scenery could benefit Brooks, and the Rockets have reportedly been prioritizing tough, defensive-minded veterans under new head coach Ime Udoka. Houston has reached an agreement with Fred VanVleet and was said to be aggressive in its pursuit of Defensive Player of the Year runner-up Brook Lopez, who ultimately decided to remain in Milwaukee.

Kings Waive PJ Dozier

July 8th, 2023 at 3:52pm CST by Luke Adams

The Kings have waived guard PJ Dozier, the team announced today in a press release.

The move doesn’t come as a real surprise, given that Dozier played a limited role for Sacramento last season and would have had his $2.41MM salary for 2023/24 become guaranteed if he remained under contract beyond Monday, July 10. By cutting him today, the club won’t be on the hook for any of that money.

Dozier, 26, signed a pair of 10-day contracts with the Kings in January before reaching a rest-of-season deal with the team in February. He appeared in 16 games, averaging 1.4 points and 0.9 rebounds in just 4.9 minutes per night.

With Dozier off the roster, the Kings now have 13 players on standard contracts (once Sasha Vezenkov and Alex Len officially sign) and a pair on two-way deals, so they’re presumably not done making moves.

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.