Transactions Rumors | Hoops Rumors

Pelicans Convert Liddell’s Two-Way Contract To Three-Year Deal

July 6th, 2023 at 5:59pm CST by Dana Gauruder

5:59pm: The signing is now official, according to NBA’s transactions log.

5:37pm: The Pelicans are signing forward E.J. Liddell to a new three-year, $6,224,049, with a team option in the third season, Shams Charania of Stadium and The Athletic tweets.

Liddell is having his two-way contract converted to a standard one. He suffered a torn right ACL in summer league last summer.

Liddell, a 6’6” forward, was the 41st pick in the 2022 draft out of Ohio State. Liddell occupied one of the Pelicans’ two-way slots last season despite his inability to play.

As The Athletic’s John Hollinger points out (Twitter link), handing Liddell a standard contract actually helps New Orleans in terms of the luxury tax. It’s cheaper for the Pelicans to give Liddell a minimum deal than signing another player on a veteran’s minimum to fill their 14th roster spot.

Liddell will return to action on Friday night when he returns to Las Vegas for the New Orleans Pelicans’ summer league opener, Rod Walker of the New Orleans Times Picayune reports.

“Wooh, lot of nerves,” Liddell said. “If you see me smiling, a lot of nerves. But just know (I’m) super excited to be out there.”

During a 2021/22 NCAA season in which he was named a Third Team All-American, an All-Big Ten First Teamer, and a Big Ten All-Defensive Team honoree, Liddell averaged 19.4 PPG, 7.9 RPG, 2.5 BPG and 2.5 APG for the Buckeyes.

Knicks Sign Jacob Toppin To Exhibit 10 Deal

July 6th, 2023 at 4:52pm CST by Luke Adams

JULY 6: Toppin has officially signed with the Knicks, the team announced today (via Twitter).

According to Fred Katz of The Athletic (Twitter link), Toppin ended up signing an Exhibit 10 contract instead of a two-way deal. He’ll receive up to $75K if he’s waived before the start of the season and spends at least two months with the Westchester Knicks in the G League.

JUNE 23: The Knicks have reached an agreement to sign former Kentucky forward Jacob Toppin to a two-way contract, sources tell Adrian Wojnarowski of ESPN (Twitter link).

Toppin, who went undrafted on Thursday, is the younger brother of Obi Toppin.

Jacob averaged a career-best 12.4 points, 6.8 rebounds, and 2.2 assists per game for the Wildcats as a senior in 2022/23, earning a starting role and averaging 31.4 MPG in 33 appearances. Obi, meanwhile, is entering a potential contract year in ’23/24 and his future in New York appears somewhat up in the air.

Trevor Keels and Duane Washington finished this past season as the Knicks’ two-way players, but neither one is under contract for ’23/24, so it’s possible the club could bring in two new players in addition to Toppin to fill its two-way slots for next season. Teams will be permitted to carry three two way players instead of just two for the first time this offseason.

Hawks Sign Second-Rounder Lundy To Two-Way Contract

July 6th, 2023 at 4:50pm CST by Dana Gauruder

The Hawks have signed Seth Lundy to a two-way contract, according to the NBA transactions log.

Lundy was chosen with the No. 46 pick of the second round in last month’s draft. The former Penn State swingman had a highly productive four-year career with the Nittany Lions. Last season, Lundy started 36 games and averaged 14.2 points and 6.3 rebounds while making 40% of his 3-point attempts. He shot a high volume of 3s, making 92 of 230 attempts.

Atlanta currently has an overloaded roster, so it’s not surprising Lundy was given a two-way deal rather than a standard contract.

The Hawks have also officially signed forward Miles Norris to a two-way deal. Norris went undrafted and news leaked shortly after the draft that the Hawks had agreed to sign him a two-way contract.

Norris, who played his college ball at three different schools, spent the last three years at UC Santa Barbara. He averaged 14.1 points and 6.1 rebounds in 35 games last season.

Kings Trade Richaun Holmes, Olivier-Maxence Prosper To Mavs

July 6th, 2023 at 4:36pm CST by Arthur Hill

JULY 6: The trade between the Kings and Mavericks is official, according to an announcement from the Mavs (Twitter link). Dallas acquired Holmes into the trade exception created in the Bertans deal, along with the rights to Prosper, in exchange for cash considerations.

JUNE 22: The Kings will trade center Richaun Holmes and the 24th pick to the Mavericks, tweets ESPN’s Adrian Wojnarowski. Marquette’s Olivier-Maxence Prosper was the selection at No. 24.

Holmes is under contract for 2023/24 at $12MM and holds a $12.8MM player option for the following season. Dallas will acquire him using the traded player exception it created earlier in the night by sending Davis Bertans to Oklahoma City.

Holmes, who had been Sacramento’s starting center for two-and-a-half seasons, saw his playing time slip dramatically after the 2022 trade deadline as Domantas Sabonis took over the starting job. Holmes averaged just 3.1 points and 1.9 rebounds in 42 games while playing 8.3 minutes per night.

The Mavericks continue to add frontline depth after landing Duke center Dereck Lively II with the 12th pick. It appears likely that Holmes will have a larger role in Dallas as the team tries to rebuild its supporting cast around Luka Doncic and the expected return of Kyrie Irving.

Prosper was able to raise his draft stock with an impressive showing at the combine and strong showings throughout the workout process. He reportedly held workouts with at least 16 teams.

The Kings’ return in the deal is not yet known, but it will likely be minimal, since Holmes is considered a salary dump. Sacramento now has the ability to create more than $30MM in cap room this offseason.

Bulls Waive Marko Simonovic

July 6th, 2023 at 4:16pm CST by Dana Gauruder

The Bulls are waiving center Marko Simonovic, Shams Charania of The Athletic tweets. The move is official, per NBA.com’s transaction log.

The seven-foot Simonovic has only appeared in 16 games over the last two seasons, so the move didn’t come as a surprise.

The 2020 second-round pick signed a multi-year contract in 2021 but his $1,836,096 salary for next season wasn’t guaranteed. Chicago had until Friday to decide whether to give him that full amount, as shown in our list of early salary guarantee dates for 2023/24.

Simonovic played 25 games last season for the G League Windy City Bulls, including 23 starts. He averaged 15.9 points and 9.9 rebounds in 28.3 minutes per game.

Simonovic’s release leaves open a backup center spot behind Nikola Vucevic and Andre Drummond.

Hornets Sign LaMelo Ball To Five-Year Max Extension

July 6th, 2023 at 4:04pm CST by Alex Kirschenbaum

JULY 6: The Hornets and Ball have officially finalized their deal, with the team issuing a press release to confirm the signing.

JULY 1: The Hornets and LaMelo Ball are finalizing a five-year designated rookie extension that will be worth the maximum salary, according to Shams Charania of The Athletic (Twitter link). Agent Sam Permut tells Adrian Wojnarowski of ESPN (Twitter link) that the two sides have reached an agreement.

Ball’s starting salary on the new deal will pay him at least 25% of the 2024/25 cap. Charania’s report suggests there will be Rose Rule language that could increase that figure to 30% of the cap if Ball earns All-NBA honors next season.

The exact value of the contract will depend on where the ’24/25 cap lands and whether Ball meets the Rose Rule criteria, but even in a worst-case scenario, it will be worth well north of $200MM. In a best-case scenario (30% starting salary, 10% cap increase), it would be worth $260MM.

Charlotte selected the 6’7″ point guard with the third overall pick in the 2020 draft. He immediately emerged as a lethal and creative scorer all over the floor, and was named the 2020/21 Rookie of the Year despite being limited to just 51 out of 72 possible games (31 starts) in his first season due to injuries.

Ailments have been a recurring theme in Ball’s young career, outside of a relatively healthy 75-game run in 2021/22, during which he made his first All-Star team as an injury replacement.

A right ankle fracture ended his 2022/23 campaign early. He played in just 36 contests for the 27-55 Hornets. When Ball did play last year, he remained his stellar statistical self, though it didn’t particularly contribute to winning. He notched 23.3 PPG on .411/.376/.836 shooting splits, 8.4 APG, 5.4 RPG and 1.3 SPG.

Charlotte is undergoing some major changes this summer. The team selected highly-touted Alabama forward Brandon Miller, widely considered to be another All-Star caliber prospect, using the second pick in this year’s draft. Former longtime majority owner Michael Jordan also sold most of his shares in the club to a new ownership group, led by tech investor Ian Loring and several notable North Carolinians. The Hall of Famer will still retain a stake in the franchise moving forward.

Cavs Acquire Max Strus In Three-Team Sign-And-Trade

July 6th, 2023 at 4:01pm CST by Luke Adams

JULY 6: The trade is official, the Heat announced (via Twitter). As part of the deal, Miami will also swap second-round picks with the Spurs, with Miami receiving a 2027 selection and San Antonio receiving a 2026 pick. The Cavs are also sending cash to the Spurs.

JULY 1: The Cavaliers, Heat, and Spurs have agreed to a three-team deal that will land Max Strus in Cleveland via sign-and-trade, reports Adrian Wojnarowski of ESPN (Twitter link). Agent Mark Bartelstein tells Wojnarowski that Strus has agreed to a four-year, $63MM contract with the Cavs.

Miami will acquire a second-round pick and will create a trade exception in the deal, while San Antonio will receive Cedi Osman, Lamar Stevens, and a second-round pick, according to Wojnarowski.

The second-rounder going to Miami is the Lakers’ 2026 pick, while the one headed to San Antonio is Cleveland’s 2030 selection, reports Chris Fedor of Cleveland.com.

Strus had been repeatedly mentioned as a top target for the Cavs in the days and hours leading up to free agency. A report on Thursday indicated Cleveland hoped its $12.4MM mid-level exception would be enough to land the 27-year-old, but with rumors suggesting his market was above the MLE, a report on Friday suggested the Cavs were looking into three-team sign-and-trade scenarios.

Right before free agency opened, Marc Stein reported that a scenario in which the Cavs sign-and-trade for Strus and use their mid-level exception to add Georges Niang appeared “increasingly likely.” Sure enough, Cleveland is poised to add both players, having reached an agreement with Niang on Friday night.

A former undrafted free agent who had brief stints in Boston and Chicago early in his career, Strus blossomed into a reliable rotation player in Miami during the last two seasons. In 148 games since the start of 2021/22, he has averaged 11.1 points and 3.1 rebounds in 26.1 minutes per night, with a shooting line of .423/.376/.845. He moved ahead of Duncan Robinson in the Heat’s rotation during that time in large part due to his more stable presence on defense.

The Cavs had been on the lookout for a wing to complement starters Donovan Mitchell, Darius Garland, Jarrett Allen, and Evan Mobley for the better part of the year. Strus should slot into that role nicely along with Caris LeVert, who also agreed to return to Cleveland.

In moving off Osman and Stevens in this trade, the Cavs should still be about $12.5MM below the luxury tax line with 10 players on the books, tweets Yossi Gozlan of HoopsHype.

The Heat, who project to be a taxpayer in 2023/24, had been bracing for Strus’ departure, recognizing that they weren’t prepared to match his price on the open market. They reportedly didn’t want to take any salary back in a sign-and-trade and were able to achieve that goal. The traded player exception they generate as part of the transaction will be worth half of Strus’ first-year salary — based on the reported terms of his deal, that TPE should come in at about $7MM.

As for the Spurs, they entered the day with more leftover cap room than any other NBA team and will use a portion of it to add a second-round pick and two forwards who are on expiring contracts and who should be in the mix for rotation roles if they remain on San Antonio’s roster.

Osman, who will earn $6.7MM in 2023/24 before reaching unrestricted free agency, has been a rotation player in Cleveland for the last six seasons, averaging 9.7 PPG, 3.0 RPG, and 2.0 APG with a .353 3PT% in 404 games (23.6 MPG) during that time.

Stevens, a solid defensive wing who doesn’t provide much on offense, has a $1.93MM non-guaranteed salary — some or all of that money will become guaranteed as part of this deal in order to satisfy the NBA’s salary-matching rules.

The Spurs will still have approximately $23-26MM in cap space available.

Celtics Sign Jordan Walsh To Four-Year Deal

July 6th, 2023 at 3:44pm CST by Luke Adams

4:42pm: The deal is official, according to a press release issued by the Celtics.

3:44pm: The Celtics have reached an agreement on a four-year contract with second-round pick Jordan Walsh, reports Michael Scotto of HoopsHype (Twitter link). Walsh’s four-year deal will be worth $7.6MM, league sources tell Scotto.

Boston made a series of trades on draft nights, moving down multiple times and ultimately ending up with just one pick, at No. 38 overall. The club used that selection to nab Walsh, who declared for the 2023 draft as an early entrant following his freshman year at Arkansas.

In his first and only college season, the 6’7″ forward averaged 7.1 points, 3.9 rebounds, and 1.1 steals in 24.4 minutes per game (36 contests) with a shooting line of .433/.278/.712. Despite his modest college stats, Walsh intrigued NBA teams due to his athleticism and defensive versatility.

The NBA’s new second-round pick exception will allow the Celtics to sign Walsh to a four-year deal without requiring cap room or the mid-level exception to do so. Based on the terms reported by Scotto, it sounds like Walsh will receive the rookie minimum salary across all four seasons. As our minimum-salary chart shows, a rookie signing a four-year, minimum-salary contract in 2023/24 will be in line for a total of $7,639,302.

The second-round pick exception requires that the final year of the contract be a team option, but teams and players can negotiate the guarantee amounts on the earlier seasons. I’d expect Walsh to receive at least one or two fully guaranteed years on his first NBA deal.

Bucks Officially Sign Middleton, Lopez, Beasley

July 6th, 2023 at 3:11pm CST by Luke Adams

The Bucks have officially completed three of their reported free agent signings, having re-signed forward Khris Middleton and center Brook Lopez while also adding swingman Malik Beasley, according to NBA.com’s transaction log.

Middleton reached a deal with the Bucks during the first couple hours of free agency last Friday evening, reportedly agreeing to terms on a three-year contract that will pay him $102MM.

Middleton turned down a $40.4MM player option in order to secure a more significant overall financial commitment, though he’ll accept a lower salary in 2023/24. That reduction should help the Bucks’ luxury tax situation in the short term.

Lopez, who drew significant free agent interest from the Rockets, ultimately rebuffed Houston’s advances in order to return to Milwaukee on a two-year deal worth a reported $48MM. He and the Bucks reached that agreement on Saturday.

The veteran center and former All-Star had one of his best NBA seasons in 2022/23, bumping his scoring average to 15.9 PPG (his best mark since his Brooklyn days) and finishing as the runner-up in Defensive Player of the Year voting.

As for Beasley, he’s joining the Bucks on a one-year, minimum-salary contract after finishing last season with the Lakers. The veteran wing, who agreed on Monday to sign with Milwaukee is a career 37.8% three-point shooter on 5.8 attempts per game, so he’ll help spread the floor for his new team in 2023/24.

The Bucks are still on track to formally complete deals with Jae Crowder, Robin Lopez, and A.J. Green as well.

Julian Strawther Signs Rookie Contract With Nuggets

July 6th, 2023 at 2:34pm CST by Rory Maher

The Nuggets have signed No. 29 overall pick Julian Strawther to his rookie scale contract, according to the official transaction log at NBA.com.

Strawther, 21, played three college seasons at Gonzaga before putting his name in the 2023 draft as an early entrant. In 37 games (31.2 MPG) with the Bulldogs in 2022/23, the small forward averaged 15.2 points and 6.2 rebounds on .469/.408/.776 shooting.

The Celtics originally held the No. 29 pick, but traded it to the Pacers last year in the Malcolm Brogdon deal. The Pacers sent the rights to the Nos. 29 and 32 picks to Denver as part of a four-team trade last month.

Speaking of the No. 32 pick, Jalen Pickett‘s four-year contract with the Nuggets is now official, per NBA.com, as is Hunter Tyson‘s (No. 37). Denver also acquired the rights to Tyson in the four-team deal.

Assuming he receives the maximum allowable 120% of the rookie scale amount, which virtually every first-rounder does, Strawther will earn approximately $2.4MM as a rookie and nearly $12.5MM if he plays out his full four-year rookie contract. The first two years are guaranteed, while the third and fourth are team options.