Transactions Rumors | Hoops Rumors

Suns Sign Four Free Agents

June 30th, 2023 at 5:32pm CST by Dana Gauruder

JULY 11: The Suns have officially signed Okogie, Gerald Bourguet of PHNX Sports tweets.

“Josh plays with relentless energy. His grit, intensity and athleticism are vital to the success of our team,” Jones said in a statement. “He consistently makes winning plays on both ends of the floor. He is truly unique.”

JULY 7: After officially signing Eubanks and Bates-Diop earlier in the week, the Suns have finalized Lee’s deal as well, per a press release.

“Damion’s elite three-point shooting, championship experience and toughness help elevate our team,” general manager James Jones said in a statement. “His leadership and professionalism are pivotal as we pursue an NBA title.”

JUNE 30: The Suns have reached agreements with four free agents, including two of their own.

Forward Josh Okogie is re-signing with the Suns, Chris Haynes of TNT and Bleacher Report tweets. Guard Damion Lee is also returning on a two-year deal with a player option for the second season, ESPN’s Adrian Wojnarowski tweets.

Power forward Drew Eubanks is leaving the Trail Blazers to sign a two-year deal with a player option, The Athletic’s Shams Charania tweets. Spurs forward Keita Bates-Diop is signing with Phoenix on a two-year, $5MM contract that also features an option, Wojnarowski tweets. Bates-Diop will have a chance to earn a starting spot — presumably, he’ll battle Okogie to start alongside Kevin Durant.

Okogie started in 26 of 72 regular-season games last season for the Suns, averaging 7.3 points and 3.5 rebounds in 18.8 minutes. He also started in half of their 10 postseason games.

Lee saw action in 74 of Phoenix’s regular-season games and averaged 8.2 points in 20.4 minutes. He made a career-best 44.5% of his 3-point attempts.

Eubanks averaged 6.6 points and 5.4 rebounds in 20.3 minutes while appearing in 78 of Portland’s games, including 28 starts. He figures to play backup minutes at power forward and perhaps center. Bates-Diop started 42 of the 67 games in which he played for San Antonio last season. He averaged a career-best 9.7 points and 3.7 rebounds in 21.7 minutes.

Pacers Sign Bruce Brown To Two-Year Contract

June 30th, 2023 at 5:23pm CST by Luke Adams

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

JUNE 30: Fresh off a championship run with the Nuggets, Bruce Brown is leaving Denver for Indiana, per Alex Golden of Setting The Pace (Twitter link).

Brown is getting a significant pay raise from the Pacers, according to Adrian Wojnarowski and Malika Andrews of ESPN (Twitter link). He’ll sign a two-year contract worth $45MM, agents Ty Sullivan and Steven Heumann tell ESPN’s duo.

According to Dustin Dopirak of The Indianapolis Star (Twitter link), Brown’s new deal will include a second-year team option, so it sounds like only the first year will be guaranteed. Still, it’s a huge pay bump for Brown, who had only earned a total of $15MM across his first five NBA seasons.

Having signed with the Nuggets last summer following a two-year stint in Brooklyn, Brown averaged a career-best 11.5 points per night on .483/.358/.758 shooting in 80 games (28.5 MPG) this past season.

The 26-year-old also contributed 4.1 RPG and 3.4 APG while handling a variety of defensive assignments. In the postseason, he played the most minutes of any Denver reserve, bumping his scoring average to 12.0 PPG while shooting 51.1% from the floor.

Because Brown signed with the Nuggets just one year ago, the team only held his Non-Bird rights, which limited their maximum offer to about $7.8MM, a 20% raise on his previous $6.5MM salary. The club reportedly made that offer, but it didn’t come close to the deal the Pacers put on the table.

Brown was the No. 14 free agent on our top-50 list. His deal will come out of Indiana’s cap room. The team still projects to have nearly $15MM in space after accounting for Brown’s contract, tweets Yossi Gozlan of HoopsHype.

Bulls Re-Sign Coby White To Three-Year Deal

June 30th, 2023 at 5:20pm CST by Rory Maher

July 7: White’s deal is now official, the Bulls announced in a press release.

June 30: Restricted free agent guard Coby White is re-signing with the Bulls, agreeing to a three-year, $33MM contract, sources tell Shams Charania of The Athletic (Twitter link).

ESPN’s Adrian Wojnarowski reports (via Twitter) the deal is worth $40MM, with K.C. Johnson of NBC Sports Chicago clarifying (Twitter link) that it could “potentially” be worth $40MM. That implies there will be incentives in the contract that could increase the value.

Jake Fischer of Yahoo Sports was first to report that White was likely to return to Chicago on a three-year deal worth north of $30MM. Chicago made White a restricted free agent on Wednesday by extending him a $7,744,600 qualifying offer.

White is entering his fifth NBA season after being drafted by the Bulls with the No. 7 overall pick in 2019. He appeared in 74 games (two starts) last season, averaging 9.7 PPG, 2.8 RPG and 2.7 APG with a .443/.372/.871 shooting line in 23.4 MPG.

Several of those counting stats from ’22/23 represented career lows for White. However, he’s only 23 years old and improved in key developmental areas last season, including defense, ball-handling, decision-making and passing.

White figures to receive regular minutes again in ’23/24 with Lonzo Ball‘s status very much up in the air. Ball unfortunately had a third knee surgery that may sideline him all of next season — if not indefinitely.

Lakers Sign Taurean Prince

June 30th, 2023 at 5:20pm CST by Luke Adams

JULY 6: The Lakers’ deal with Prince is now official, the team announced in a press release.

JUNE 30: The Lakers have agreed to sign free agent forward Taurean Prince, league sources tell Shams Charania of The Athletic (Twitter link). Prince cleared waivers today after being waived by the Timberwolves on Wednesday.

According to Adrian Wojnarowski of ESPN (Twitter link), Prince’s deal with the Lakers will be worth $4.5MM for one year.

Los Angeles intends to use its bi-annual exception to complete the signing, which would leave the full mid-level exception available, tweets Dave McMenamin of ESPN. Using the BAE will hard-cap the Lakers at the first tax apron ($172.3MM) in 2023/24.

Prince was a reliable rotation piece in Minnesota for the last two years. In 123 games since the start of the 2021/22 season, he has averaged 8.1 points, 2.5 rebounds, and 1.2 assists in 19.3 minutes per night, with a solid shooting line of .460/.378/.799.

However, the Wolves ultimately decided that Prince’s $7.46MM salary for 2023/24 was a higher price than they wanted to pay and waived him before that money became fully guaranteed.

Prince had been the No. 37 player on our list of this year’s top 50 free agents.

Trey Lyles Re-Signs With Kings On Two-Year Deal

June 30th, 2023 at 5:16pm CST by Dana Gauruder

July 7: Lyles’ two-year deal is official, the Kings announced (Twitter link via Sean Cunningham of Fox 40 News).

June 30: Power forward Trey Lyles is re-signing with the Kings, Chris Haynes of TNT and Bleacher Report tweets. It’s a two-year deal, James Ham of TheKingsBeat.com tweets.

The base value of the contract is $16MM, plus bonuses, Sam Amick of The Athletic tweets. There are no team or player options in the deal.

Lyles proved to be a valuable reserve for a franchise that finally ended its long postseason drought this past season. Lyles expressed his desire to stay late last season, saying he felt “at home” in Sacramento. Lyles has also played for Utah, Denver, San Antonio and Detroit.

Lyles appeared in 74 regular season games off the bench for Sacramento, averaging 7.6 points and 4.1 rebounds in 16.9 minutes per game. Lyles, who also saw action in seven postseason contests, played for a modest $2.625MM salary last season.

Cavaliers Re-Sign Caris LeVert To Two-Year Deal

June 30th, 2023 at 5:08pm CST by Luke Adams

JULY 6: LeVert’s new deal with the Cavaliers is now official, the team confirmed (via Twitter).

JUNE 30: The Cavaliers have reached an agreement to re-sign free agent swingman Caris LeVert, according to ESPN’s Adrian Wojnarowski (Twitter link). Agent Austin Brown tells Wojnarowski that it’ll be a two-year, $32MM deal.

Chris Fedor of Cleveland.com had reported in the days leading up to free agency that LeVert would be offered a contract in the range of $15-18MM annually, so the terms come as no surprise. At that price, Cleveland still has the flexibility to continue adding to to its roster while remaining below the luxury tax line.

When the Cavaliers first traded for LeVert in 2021, they envisioned him as a scorer and play-maker who would frequently have the ball in his hands. Following the emergence of Darius Garland and the acquisition of Donovan Mitchell, Cleveland asked him to play off the ball more in 2022/23, an adjustment which was reflected in his statistics — LeVert’s 18.7% usage rate was easily his lowest since his rookie year, and his 12.1 points per game were well below the 18.5 PPG he averaged across the three previous seasons.

However, LeVert adjusted to his new role without complaint and expanded his game. His .392 3PT% last season was a career high and he took on more challenging defensive assignments to alleviate the pressure on Garland and Mitchell.

LeVert’s new deal puts him on track to return to unrestricted free agency in 2025 at age 30.

Trail Blazers Waiving Trendon Watford

June 30th, 2023 at 11:23am CST by Luke Adams

The Trail Blazers are waiving forward Trendon Watford, sources tell Adrian Wojnarowski of ESPN (Twitter link).

Watford’s non-guaranteed minimum salary ($1,836,096) for 2023/24 would have become fully guaranteed if he had remained under contract beyond Friday. By cutting him, Portland won’t be on the hook for that money and will create a little extra roster flexibility entering free agency.

It’s a somewhat surprising move, given that Watford is just 22 years old and is coming off a pretty good season in Portland. He averaged 7.4 points, 3.8 rebounds, and 2.1 assists with a shooting line of .560/.391/.720 in 62 appearances (19.1 MPG) in 2022/23.

Watford will become an unrestricted free agent if he passes through waivers, but given his age, his modest salary, and his solid track record, he’s a candidate to be claimed.

Although he’s on a minimum-salary contract, Watford’s deal initially covered four years, which means it can’t be claimed using the minimum salary exception. A team with interest in claiming the former LSU standout would need to have the cap room or a trade exception necessary to cover his $1.84MM salary.

If Watford is claimed, his 2023/24 salary would become guaranteed and his new club would hold a minimum-salary team option for ’24/25.

Options Declined For Blazers’ Knox, Thunder’s Waters, Wolves’ Knight

June 29th, 2023 at 11:03pm CST by Luke Adams

Trail Blazers forward Kevin Knox, Thunder wing Lindy Waters, and Timberwolves big man Nathan Knight have all had their team options for the 2023/24 season declined by their respective clubs, Hoops Rumors has confirmed. Keith Smith of Spotrac (Twitter link) reported the three option decisions.

The deadline to exercise a player or team option for ’23/24 was Thursday at 4:00 pm Central time, so the fact that there had been no word on these three options was a strong indication that they weren’t picked up. They were the last three we were waiting for confirmation on — the rest of this year’s team and player option decision had been made.

Knox’s team option with the Trail Blazers would have been worth $3MM. The former No. 9 overall pick finished the 2022/23 season in Portland after being traded from Detroit at February’s deadline. In 63 total appearances for the Pistons and Blazers, he averaged 6.6 points and 2.8 rebounds in 15.1 minutes per night.

Knox will become an unrestricted free agent after having his option turned down. Waters and Knight, who would’ve earned $1.93MM apiece if their options had been exercised, were eligible for qualifying offers to make them restricted free agents, but there’s no indication that either player received one. We’ll be able to confirm that on Friday before free agency officially opens.

Waters averaged 5.2 PPG on .393/.358/.800 shooting in 41 games (13.0 MPG) for the Thunder, while Knight registered 3.7 PPG and 1.5 RPG in 38 contests (7.7 MPG) for Minnesota.

Kings Sign Harrison Barnes To Three-Year Extension

June 29th, 2023 at 10:00pm CST by Luke Adams

10:00pm: The extension is official, per NBA.com’s transaction log.

7:11pm: The Kings will keep veteran forward Harrison Barnes off the free agent market, having reached an agreement on a three-year, $54MM contract extension, agent Jeff Schwartz tells Adrian Wojnarowski of ESPN (Twitter link).

The deal will include a 10% trade kicker, reports Sam Amick of The Athletic (via Twitter).

Barnes has been a full-time starter for the Kings since they acquired him from Dallas at the 2019 trade deadline. The 31-year-old has appeared in 317 games since then, averaging 15.4 PPG, 5.3 RPG, and 2.3 APG with a .472/.387/.827 shooting line in 34.0 minutes per contest.

Barnes signed a four-year, $94MM contract as a free agent in 2016 and got $85MM for four years in 2019. Given his age and the fact that so few teams had cap room this summer, it makes sense that he’d have to settle for a slightly lesser annual salary.

However, it’s also not a surprise that he’ll receive well above the mid-level, since his performance hasn’t noticeably dropped off in recent years. Barnes had a disappointing playoff showing vs. Golden State, but was as solid as ever during the 2022/23 regular season, with averages of 15.0 PPG and 4.5 RPG on .473/.374/.847 shooting. He was also one of just 10 NBA players not to miss a single game this year.

The Pacers were reportedly among the teams believed to have interest in Barnes, but he’ll officially sign a new deal with Sacramento before reaching free agency, since he remained extension-eligible until June 30.

Barnes’ new contract will cut into the Kings’ projected cap room, but the team should still have approximately $18MM in space, according to Yossi Gozlan of HoopsHype (Twitter link).

As Gozlan observes, Sacramento could use that room to give Domantas Sabonis a raise via a contract renegotiation-and-extension while still having enough left to go after another rotation player in free agency. The club would also have the room exception – projected to get a bump to $7.7MM – once it uses up its cap room.

The Kings would also have the ability to operate as an over-the-cap team, which would allow them to access their full $12.4MM mid-level exception and $4.5MM bi-annual exception, but would remove the option of a Sabonis renegotiation.

Nets To Make David Duke Jr. Unrestricted Free Agent

June 29th, 2023 at 7:45pm CST by Alex Kirschenbaum

Nets combo guard David Duke Jr.. is not going to receive a qualifying offer from Brooklyn and will thus enter unrestricted free agency, reports Brian Lewis of The New York Post (Twitter link).

Nets shooting guard Dru Smith, inked to a two-way contract last season, was also not given a qualifying offer by Brooklyn, Lewis adds. He, too, will become an unrestricted free agent.

The 23-year-old Duke first joined Brooklyn on a two-way deal after going undrafted out of Providence in 2021. He returned to the Nets on another two-way contract for the 2022/23 season, but saw his agreement converted to a standard roster deal this past April, ending the year on the club’s 15-man roster.

Across 23 games for Brooklyn in 2023/24, Duke averaged 3.7 PPG, 1.3 RPG and 0.9 APG. In 22 games for Brooklyn’s G League affiliate, the Long Island Nets, Duke averaged 22.9 PPG, 6.0 RPG, 3.8 APG, and 1.9 SPG.

Smith, 25, barely played for the Nets during his inaugural NBA season. In 10 games for Brooklyn, he averaged just 3.3 PPG, 1.7 RPG and 1.5 RPG across 9.1 MPG. Smith played 14 contests for the Long Island Nets, starting just three. He averaged 14.1 PPG on .500/.426/.667 shooting splits, along with 5.4 RPG.