Transactions Rumors | Hoops Rumors

Rockets Sign Fred VanVleet To Three-Year Contract

July 7th, 2023 at 1:10pm CST by Luke Adams

JULY 7: The Rockets have officially signed VanVleet, the team announced today in a press release.

As previously noted, VanVleet’s three-year deal includes a third-year team option.

JUNE 30: Fred VanVleet is leaving Toronto, according to Adrian Wojnarowski of ESPN (Twitter links), who hears from agents Rich Paul and Erika Ruiz that the free agent point guard will join the Rockets on a three-year, maximum-salary contract.

The No. 2 player on our list of 2023’s top 50 free agents, VanVleet is the first free agent to land a max deal this summer, Wojnarowski notes. The agreement will pay him a total of $128.5MM across three seasons, including a starting salary of $40.8MM in 2023/24, which will eat up a huge chunk of Houston’s cap room.

It’s a massive payday for VanVleet, who began his NBA career in 2016 as an undrafted free agent on a minimum-salary contract. Over the course of seven seasons in Toronto, he evolved from little-used reserve to key rotation member on a championship team to All-Star starting point guard.

The former Wichita State standout signed a four-year, $85MM contract during his last foray into free agency in 2020, but opted out of that deal after the third year in order to secure an even larger payday.

VanVleet is coming off a down season, having made a career-worst 34.2% of his three-point attempts in 2022/23 as his defense also took a step back. However, it appears the Rockets are willing to chalk up his struggles to nagging injuries and bad luck rather than assuming it’s the beginning of a downward trend. The 6’1″ guard has never been a great finisher around the rim, but he was a career 38.2% three-point shooter prior to last season and has been an asset on defense in the past.

The Rockets had more cap room (approximately $64MM) than any other team in the NBA entering free agency, putting them in position to aggressively pursue their preferred targets. While James Harden was mentioned earlier in the year as a candidate to return to Houston, VanVleet had clearly become the team’s top point guard target in the days leading up to free agency.

With the Raptors doing their best to bring back VanVleet, the Rockets apparently had to tack on an extra season to the two-year, maximum-salary offer they were said to be preparing for the 29-year-old in order to secure his commitment. Even with $40MM earmarked for VanVleet, Houston still has about $25MM in cap room available to continue making moves.

Meanwhile, it’s unclear how the Raptors intend to address their suddenly gaping hole at point guard. The club had spent the last year or two seeking a reliable backup for VanVleet and will now have to find a new starter too.

[UPDATE: Raptors to sign Dennis Schröder]

As Bobby Marks of ESPN tweets, Toronto could try to work out a sign-and-trade with Houston to generate a huge trade exception. However, there’s no reason for the Rockets to agree to that unless they’re incentivized to do so, so the Raptors would probably have to give up a second-round pick or two to make it happen.

Cavaliers Sign Emoni Bates To Two-Way Deal

July 7th, 2023 at 1:02pm CST by Luke Adams

The Cavaliers have officially signed second-round pick Emoni Bates to a two-way contract, the team announced today in a press release.

A former consensus five-star recruit and one of the top high school prospects in the country, Bates saw his stock slip when he averaged 9.7 points per game on .386/.329/.646 shooting as a freshman at Memphis in 2021/22, then was arrested on gun charges in September 2022.

Bates ultimately had his felony charge reduced to a misdemeanor and was sentenced to 18 months of probation. The 6’10” forward had a bounce-back season on the court in 2022/23 after transferring to Eastern Michigan, putting up 19.2 PPG on .405/.330/.782 shooting in 30 games (33.8 MPG). He declared for the draft as an early entrant following his sophomore year and was selected 49th overall by Cleveland.

While he’s no longer viewed as a future NBA star, the former High School Player of the Year still has intriguing upside. He’ll likely begin his professional career by seeing plenty of action for the Cleveland Charge, the Cavaliers’ G League affiliate, as a rookie.

The Cavaliers, who also confirmed the signings of Isaiah Mobley and Craig Porter to two-way deals, have become the second NBA team to fill all three two-way slots, joining the Lakers. The new Collective Bargaining Agreement allows clubs to carry up to three players on two-way contracts instead of just two.

Rockets Sign Jeff Green To Two-Year Contract

July 7th, 2023 at 12:07pm CST by Luke Adams

JULY 7: The Rockets have officially signed Green, the team announced today in a press release.

As we relayed in a separate story, the terms of Green’s deal have reportedly been amended — it’s now a two-year, $16MM contract, with a non-guaranteed second year. He was signed into Houston’s cap room.

JULY 1: The Rockets and free agent forward Jeff Green have agreed to a one-year, $6MM contract, league sources tell Michael Scotto of HoopsHype (Twitter link).

Green, who will turn 37 in August, is entering his 16th NBA season, but showed with the Nuggets in 2022/23 that he still has a little left in the tank. He averaged 7.8 points and 2.6 rebounds in 19.5 minutes per game across 56 appearances.

Green’s three-point percentage dipped to 28.8% last season, but he has a career 33.7% rate and can defend multiple frontcourt positions. He played rotation minutes during Denver’s championship run, appearing in all 20 playoff games and averaging 17.2 minutes per night.

The Nuggets were open to a reunion with Green, but not at the salary he’s getting from Houston, tweets Mike Singer of The Denver Post.

It has been a busy day for the Rockets, who have agreed to a series of moves that will eat up most of their cap room, including a free agent deal with Jock Landale, a sign-and-trade for Dillon Brooks, and a trade for Patty Mills, who will be rerouted as part of the Brooks sign-and-trade. Depending on how Houston structures its transactions, Green could either be signed into cap space or the room exception.

The Rockets likely envision Green as a player who can be a leader in the locker room and provide some veteran savvy on the court.

Kings Renegotiate, Extend Domantas Sabonis’ Contract

July 7th, 2023 at 11:23am CST by Luke Adams

JULY 7: The Kings have officially renegotiated and extended Sabonis’ contract, the team confirmed in a press release.

JULY 1: The Kings are renegotiating Domantas Sabonis‘ 2023/24 salary and signing him to a long-term contract extension, agents Greg Lawrence and Jason Ranne tell Adrian Wojnarowski of ESPN.

Sacramento will use $8.6MM in cap room to give Sabonis a raise on this year’s salary – from $22MM to $30.6MM – and will tack on four new years to his expiring contract. According to Wojnarowski, the deal will be worth $217MM over five total seasons, including $195MM in new money.

There won’t be any team or player options in the new contract, tweets Jason Anderson of The Sacramento Bee.

After being acquired in a blockbuster trade involving Tyrese Haliburton at the 2022 deadline, Sabonis thrived in his first full season in Sacramento, averaging 19.1 points, 7.3 assists, and a league-leading 12.3 rebounds in 34.6 minutes per game across 79 contests despite sustaining an avulsion fracture to his thumb in December.

In addition to earning the third All-Star nod of his career, the 27-year-old made an All-NBA squad for the first time, claiming the center spot on the Third Team. Sabonis and De’Aaron Fox led the Kings to a 48-win season and their first playoff berth since 2006.

Contract renegotiations are rare in the NBA and can only be completed when a team has cap space and intends to increase a player’s salary rather than reducing it. The Kings created additional spending flexibility on draft night by agreeing to send Richaun Holmes to Dallas in a salary-dump trade.

There was some speculation that Sacramento may be preparing to make a run at a top-tier free agent with that extra cap space, but Sacramento has instead focused on its own players, extending Harrison Barnes earlier in the week and agreeing to new deals with Trey Lyles and now Sabonis.

The Kings’ one notable deal with a player who wasn’t on the 2022/23 roster is a three-year, $20MM commitment to EuroLeague MVP Sasha Vezenkov. Vezenkov, who is expected to slot into Sacramento’s room exception, wasn’t technically a free agent since the club held his draft rights.

As Bobby Marks of ESPN notes (via Twitter), without a renegotiated 2023/24 salary, Sabonis would have been eligible for a maximum-salary extension of $138MM over four years. That may not have been enough to prevent him from testing the market in 2024, since he would’ve been eligible for a significantly higher salary – and an extra year – at that point.

Interestingly, the only other NBA player to get a renegotiation and extension since 2017 is Sabonis’ former frontcourt partner in Indiana, Myles Turner, Marks observes (via Twitter). Jazz guard Jordan Clarkson is also expected to join that group.

Pacers Trade Chris Duarte To Kings

July 6th, 2023 at 8:15pm CST by Luke Adams

JULY 6, 8:15pm: The Pacers and Kings have officially completed the trade sending Duarte to Sacramento. The Kings put out a press release confirming the move.

JULY 6, 2:43pm: The Pacers and Kings are in agreement on their Duarte trade, according to ESPN’s Adrian Wojnarowski (Twitter link), who reports that the deal is expected to be finalized today.

Indiana will receive Dallas’ 2028 second-round pick and Sacramento’s own 2030 second-rounder, reports Dustin Dopirak of The Indianapolis Star (Twitter link).

JUNE 30, 9:41am: The Kings and Pacers are nearing an agreement on a trade that will send wing Chris Duarte to Sacramento, sources tell Shams Charania of The Athletic (Twitter link). According to Charania, Indiana would receive draft compensation in the deal.

Duarte, 26, was the 13th overall pick in the 2021 draft out of Oregon. He had a promising rookie season in 2021/22, averaging 13.1 PPG with a .369 3PT% in 55 games (28.0 MPG), but took a step back in his second year in the NBA.

The 6’6″ swingman battled injuries that limited him to 46 games in 2022/23 and his numbers dipped to 7.9 PPG with a .316 3PT%. The emergence of rookie Bennedict Mathurin and the addition of another former lottery pick, Aaron Nesmith, resulted in Duarte playing a diminished role (19.5 MPG) even when he was available.

The Kings appear willing to bet that Duarte can recapture his rookie former and will take on his $4.1MM guaranteed salary for 2023/24. They’ll have to make a decision by October 31 on his $5.9MM option for the ’24/25 season. If that option is picked up, Duarte would become extension-eligible during the 2024 offseason.

The Pacers also reportedly discussed Duarte in their trade talks with the Hawks about De’Andre Hunter.

Wizards Trade Monte Morris To Pistons

July 6th, 2023 at 6:42pm CST by Rory Maher

JULY 6: The Wizards and Pistons have officially completed the Morris trade, according to press releases from both teams. Washington will receive either the Nets’ or Mavericks’ 2027 second-round pick (whichever is more favorable).

JUNE 30: The Wizards and Pistons have agreed to a trade that will send point guard Monte Morris to Detroit, sources tell Shams Charania of The Athletic (Twitter link).

According to Omari Sankofa of The Detroit Free Press (Twitter link), Washington will acquire a future second-round pick in exchange for Morris. No other players will be involved in the swap, Sankofa adds.

Josh Robbins of The Athletic reports (via Twitter) that the pick will be a 2027 second-rounder. The Wizards will also create a $9.8MM trade exception — equivalent to Morris’ salary — as part of the deal, per Robbins.

As Yossi Gozlan of HoopsHype tweets, the Wizards are facing a roster crunch, particularly in the backcourt. Moving Morris helps address both of those issues. The Wizards now have 16 players under contract and have multiple mid-sized trade exceptions after previously dealing away Bradley Beal and Kristaps Porzingis, Gozlan notes.

Morris’ contract will be absorbed into Detroit’s remaining cap room and the deal will be completed July 6, per ESPN’s Bobby Marks (Twitter link). The Pistons still have the $7.8MM room exception to work with, says Marks, who adds that the Wizards are $30.5MM below the luxury tax line.

A former second-round pick and Michigan native, Morris spent his first five seasons with the Nuggets before being traded to the Wizards last summer. The 28-year-old had a solid first season with Washington in 2022/23, averaging 10.3 points, 5.3 assists and 3.4 rebounds on .480/.382/.831 shooting in 62 games (61 starts, 27.3 minutes).

Morris, who has been one of the league’s best at taking care of the ball throughout his career, including a 5.3-to-1 assist-to-turnover ratio last season, is ideally used as a backup, because he’s not a great defensive player. His measured, efficient approach should mesh well with a young Pistons team looking to take the next step in their rebuild.

Morris is entering the final year of his contract, which explains, to some extent, the limited return the Wizards received in the deal. The fact that they were able to shed his salary without taking any on themselves must have held some appeal as well.

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.