Transactions Rumors | Hoops Rumors

Wizards Sign Eugene Omoruyi To Two-Way Contract

July 12th, 2023 at 1:06pm CST by Dana Gauruder

JULY 12: Omoruyi has officially signed a two-way contract with the Wizards, the club announced today in a press release.

JULY 11: The Wizards have agreed to a two-way contract with forward Eugene Omoruyi, Josh Robbins of The Athletic tweets.

Omoruyi became a free agent when the Pistons waived him at the beginning of the month. He appeared in 17 games after initially signing a pair of 10-day deals with Detroit in early March. He averaged 9.7 points and 3.5 rebounds in 21.9 minutes per game.

Omoruyi was able to earn a contract that ran through 2023/24, but it contained no guaranteed money beyond last season.

He also appeared in 23 games with Oklahoma City last season and four games with Dallas the previous season.

The Wizards have now filled two of their three two-way slots, as our two-way tracker shows. Quenton Jackson holds one of the other two-way spots.

Nets Sign First-Rounder Noah Clowney

July 11th, 2023 at 5:16pm CST by Dana Gauruder

The Nets have officially signed Noah Clowney to a rookie scale contract, according to a team press release.

As the 21st pick in the draft, Clowney will receive $3,089,520 in his first season. The four-year contract is worth $15,146,274.

The salary figures assume that he signed for 120% of the rookie scale amounts for 2023’s first-round picks. First-rounders almost always get the maximum amount for their salary slot.

Rookie scale contracts are guaranteed for the first two years, with team options on the third and fourth years.

The 6’10” Clowney played one season at Alabama, where he averaged 9.8 points on 48.6% shooting from the field, 7.9 rebounds and 0.9 blocks in 25.4 minutes per game across 36 total games (all starts).

Brooklyn signed its other first-rounder, Dariq Whitehead, on Monday. The team now has 14 players on standard contracts – including Edmond Sumner, whose salary is non-guaranteed – and a pair on two-way deals.

Magic Re-Sign Moritz Wagner

July 11th, 2023 at 4:57pm CST by Luke Adams

JULY 11: The signing is official, the team’s PR department tweets. A league source tells Jason Beede of The Orlando Sentinel (Twitter link) that the second year of Wagner’s deal is a team option.

JULY 1: The Magic are re-signing unrestricted free agent forward/center Moritz Wagner, agent Jason Glushon tells ESPN’s Adrian Wojnarowski (Twitter link). Wagner will receive a two-year, $16MM contract, Woj adds.

Wagner, 26, has been a rotation regular for the Magic over the last two seasons, averaging 9.7 PPG, 4.1 RPG, and 1.4 APG on .499/.321/.826 shooting in 120 games (17.2 MPG).

Returning to Orlando will give Wagner the opportunity to continue playing alongside his brother Franz Wagner, who was the Magic’s lottery pick in 2021 and has emerged as a building block for the franchise.

Because Moritz has a minimum-salary cap hold and full Bird rights, the Magic will be able to use up all their cap room before going over the cap to complete his deal, tweets Yossi Gozlan of HoopsHype. Orlando could also still choose to operate as an over-the-cap team this season, since Joe Ingles‘ reported two-year, $22MM deal would fit into the mid-level exception.

It’s unclear whether the second year of Wagner’s contract will be guaranteed. The Magic have made a habit during the last two offseasons of signing free agents to two-year deals with only one guaranteed year, taking that route with Mohamed Bamba, Gary Harris, and (reportedly) Ingles.

Pistons Sign Isaiah Stewart To Four-Year Extension

July 11th, 2023 at 3:03pm CST by Dana Gauruder

JULY 11: Stewart’s extension is now official, the Pistons announced today in a press release (Twitter link).

JULY 10: The Pistons have reached a four-year, $64MM rookie scale extension agreement with big man Isaiah Stewart, ESPN’s Adrian Wojnarowski tweets.

The contract averages out to $15MM per year with $4MM in total performance bonuses that could increase the value to the $64MM figure, Omari Sankofa II of the Detroit Free Press tweets. The fourth year will be a team option, he adds.

Stewart, 22, has played power forward and center during his three seasons with Detroit. He was acquired in a draft-day trade and selected with the No. 16 overall pick in 2020. He was part of the first rookie class drafted by current general manager Troy Weaver.

Stewart was limited to 50 games last season due to a left shoulder impingement. He didn’t play after Feb. 25 but did post a career-high 11.3 points per game before he was sidelined. Stewart also averaged 8.1 rebounds and 1.4 assists while trying to develop his outside game. He took an average of 4.1 three-pointers per contest and made 32.7% of his attempts.

Stewart is noted for his toughness and tenacity. The Pistons reportedly fielded numerous calls regarding Stewart’s availability this offseason — his defensive versatility and improving perimeter game intrigued many teams around the league, but Detroit was intent on keeping him.

With Jalen Duren and James Wiseman likely to share minutes at center, Stewart slots in at power forward on the current Pistons roster. He’ll battle for playing time with Marvin Bagley III and Isaiah Livers unless Weaver makes a trade.

It’s the first rookie scale extension the Pistons have agreed to since Tom Gores became the franchise’s owner in 2011. Andre Drummond signed a second contract following his rookie deal back in 2016 but he was a restricted free agent at the time.

Suns Acquire Three Second-Rounders From Grizzlies For Todd, First-Round Swaps

July 11th, 2023 at 1:53pm CST by Dana Gauruder

JULY 11: The Grizzlies and Suns have officially announced the trade (Twitter links).

JULY 6: The Grizzlies are trading three second-round picks to the Suns for Isaiah Todd and first-round pick swap rights in 2024 and 2030, ESPN’s Adrian Wojnarowski tweets.

The second-rounders are a 2025 pick originally owned by the Pelicans, as well as Memphis’ own 2028 and 2029 picks.

The first-round pick swaps will involve the less favorable of the Suns and Wizards‘ picks, Wojnarowski adds (Twitter link). Phoenix gave Washington the right to swap first-rounders in those years as part of the Bradley Beal blockbuster. Todd was also included in the Beal trade, so he’s been involved in two deals so far this summer.

Todd, an early second-round pick in 2021, only appeared in six games for the Wizards last season and wasn’t in the Suns’ plans going forward. He’s owed a guaranteed $1.84MM salary for the 2023/24 season, with a $1.99MM team option for ’24/25.

The trade will allow the Suns to move off Todd’s guaranteed salary and get down to 15 players on standard contracts without requiring the team to waive him and take the luxury-tax hit that would come from adding a replacement. Phoenix will also acquire some future second-rounders after dealing six away to Washington in the Beal trade, putting the team in position to use one or more of those picks as part of a future deal.

While it’s unclear whether or not Todd will still be on their roster by the start of the regular season, the Grizzlies are essentially betting on their future in the short and long term by giving themselves an opportunity to move up in the first round next June, as well as in 2030.

Bulls Sign Adama Sanogo To Two-Way Deal

July 10th, 2023 at 8:13pm CST by Alex Kirschenbaum

JULY 10: The signing is official, the team’s PR department tweets.

JUNE 23: The Bulls are set to sign undrafted Connecticut center Adama Sanogo to a two-way contract, sources inform Adrian Wojnarowski of ESPN (Twitter link).

Sanogo, whose Huskies won the NCAA title this year, had been projected to be the last pick in the draft, No. 58, in ESPN’s final mock draft prior to tonight. In 39 games for Connecticut during 2022/23, the 6’9″ junior logged 17.2 PPG, 7.7 RPG, 1.3 APG, 0.8 BPG and 0.7 SPG. That block tally is actually his lowest ever in college. He boasts a career average of 1.2 BPG over the course of his three NCAA seasons. He also boasted solid shooting splits of .606/.365/.766.

Chicago was compelled to forfeit its own 2023 second round selection by the league as a penalty for tampering to sign point guard Lonzo Ball in free agency. Ball has played a total of 35 games in two years for the club.

The 21-year-old Sanogo was named the NCAA Final Four Most Outstanding Player for his efforts in the tourney this spring, in addition to qualifying for the NCAA All-Tourney Team. He was also a two-time All-Big East First Teamer during his collegiate stint.

Sanogo has a 7’3″ wingspan and is a hyper-efficient scorer near the basket, but questions linger about his height and defensive ability at the next level.

Dariq Whitehead Signs Rookie Scale Contract With Nets

July 10th, 2023 at 7:21pm CST by Dana Gauruder

The Nets have officially signed first-round pick Dariq Whitehead, according to a team press release.

As the No. 22 overall pick, Whitehead will receive $2,966,040 in his rookie season. His four-year contract will be worth a total of $14,709,751.

The salary figures assume that he signed for 120% of the rookie scale amounts for 2023’s first-round picks. First-rounders almost always get the maximum amount for their salary slot.

Rookie scale contracts are guaranteed for the first two years, with team options on the third and fourth years.

Whitehead spent one year at Duke. He averaged 8.3 points on 42.1% shooting from the floor and 42.9% shooting from 3-point range over 20.6 minutes per game in 28 games (seven starts).

The Nets choose Whitehead in the first round even though he underwent a second surgery on his right foot in May. Whitehead was considered a top-10 draft prospect when he committed to the Blue Devils.

Sixers Match Jazz’s Offer Sheet To Paul Reed

July 9th, 2023 at 9:39pm CST by Dana Gauruder

The Sixers are matching the Jazz‘s offer sheet to restricted free agent Paul Reed, ESPN’s Adrian Wojnarowski tweets. Philadelphia put out a press release confirming the decision.

Utah offered a unique three-year, $23MM contract to Reed, who was Joel Embiid‘s primary backup last season.

Only the first year of the contract is guaranteed. The Jazz used their $7.7MM room exception to complete Reed’s offer sheet.

The last two years of the contract, totaling $15.7MM, will become guaranteed if the Sixers reach the conference semifinals next season. The same unusual contract clause of reaching the conference semifinals would have applied to the Jazz if Philadelphia had declined to match.

Considering that the Sixers have gotten past the first round in five of the last six seasons, it’s more likely they will advance past the first round next season than the Jazz — though Utah is on the upswing after shaking up its roster last offseason.

The approach used by the Jazz certainly gave Philadelphia more pause to match the offer sheet but the team ultimately decided to hold onto a valuable reserve.

By matching, the Sixers have created more luxury tax issues for themselves. They’ll exceed the $165MM luxury tax threshold at a cost of an estimated $14MM in tax penalties. Reed will also have the option to veto trades for a year, due to the Sixers’ decision to match.

The Sixers now have a crowded frontcourt behind Embiid after agreeing to re-sign Montrezl Harrell and signing free agent Mohamed Bamba.

Reed saw his role expand in his third NBA season as he averaged 4.2 points and 3.8 rebounds in 69 regular-season games.

Hawks Sign Dejounte Murray To Four-Year Extension

July 9th, 2023 at 9:01pm CST by Luke Adams

JULY 9: The signing is official, according to a team press release.

“DJ is someone we want to continue to build with. He’s a dynamic talent with the heart of a leader. He leads by example, is an unselfish teammate, and truly cares about winning,” Hawks GM Landry Fields said.

JULY 7: Murray’s deal will include a fourth-year player option, per Shams Charania of The Athletic.

JULY 6: The Hawks and Dejounte Murray are finalizing an agreement on a four-year contract extension, league sources tell Chris Haynes of Bleacher Report and TNT (Twitter link).

Murray, who is on an expiring contract, will earn a base salary of approximately $17.7MM in 2023/24, with $500K in likely incentives and another $1MM in unlikely incentives. The NBA’s new Collective Bargaining Agreement allows a first-year raise of up to 140% of the player’s previous salary in the first year of an extension, and it sounds like Murray will receive that maximum raise.

Based on a 40% first-year increase, Murray’s new deal would have a base value of approximately $111MM, with nearly $10MM in additional incentives. If he achieves all his bonuses, the four-year contract would max out at around $120.5MM.

There was a sense that Murray might wait until he reached unrestricted free agency in 2024 to sign a new deal, since he’ll be eligible for a far bigger payday at that time. The fact that he’s willing to lock in an extra four years now is a big win for the Hawks, who gave up three first-round picks (two unprotected) and a pick swap to acquire the guard from the Spurs last offseason.

Reports at the time of the trade suggested that San Antonio was concerned about its ability to extend Murray prior to free agency. Jake Fischer of Yahoo Sports indicated on Wednesday that the Hawks were increasingly optimistic about their own chances of working out a new deal.

In his first year in Atlanta, Murray averaged 20.5 points, 6.1 assists, and 5.3 rebounds in 36.4 minutes per game across 74 contests. He shot a career-best 46.4% from the field, including 34.4% on three-pointers, and provided his usual solid perimeter defense alongside Trae Young in the Hawks’ backcourt.

There were rumors earlier in the offseason that the Hawks were willing to discuss trading anyone except Young, but a new extension for Murray will officially take him off the trade market for the rest of 2023. Never considered a legitimate candidate to be moved this summer, the 26-year-old will become ineligible to be dealt for six months once he signs his new extension.

Jerami Grant Signs Five-Year Deal With Trail Blazers

July 9th, 2023 at 7:05pm CST by Rory Maher

JULY 9: Grant has officially signed the contract, the team tweets.

JUNE 30: Jerami Grant is re-signing with the Trail Blazers, having agreed to a five-year, $160MM contract, sources tell Shams Charania of The Athletic (Twitter link).

Grant reportedly turned down a four-year extension worth nearly $113MM from Portland during the 2022/23 league year. According to Jake Fischer of Yahoo Sports, a primary reason the veteran forward decided to wait until free agency was to add the fifth year onto the end of the deal, significantly increasing its total value (Twitter link).

As Yossi Gozlan of HoopsHype tweets, Portland projects to be $21MM below the luxury tax line when accounting for Grant’s new contract. The Blazers will still have the non-taxpayer mid-level exception (which starts at $12.4MM) and a $8.3MM trade exception at their disposal in an effort to build around star Damian Lillard, Gozlan adds.

Grant is in the middle of his prime and was one of the top free agents in the 2023 class. The 28-year-old combo forward averaged 20.5 PPG, 4.5 RPG, 2.4 APG, 0.8 SPG and 0.8 BPG on .475/.401/.813 shooting in 63 games last season (35.7 MPG).

While Grant is a talented two-way player who brings valued versatility, a five-year deal worth $32MM annually is obviously an enormous commitment — both in years and dollars — to a player who has never been an All-Star.

Grant is a developmental success story, slowly working his way up the ranks with the Sixers, Thunder and Nuggets before breaking out as a 20-point scorer with the Pistons, who traded him to Portland last summer. He entered the NBA with a poor jump shot, but has continued to improve his game year-over-year.

Grant is the third former second-round pick (39th overall in 2014) to land a nine-figure deal this summer, joining Draymond Green and Khris Middleton.