Transactions Rumors | Hoops Rumors

Heat Sign Isaiah Stevens To Exhibit 10 Contract

July 6th, 2024 at 3:53pm CST by Alex Kirschenbaum

The Heat have signed undrafted former Colorado State guard Isaiah Stevens, Miami announced in a team press release.

According to Anthony Chiang of The Miami Herald (Twitter link), Stevens’ new contract is an Exhibit 10 deal.

The six-footer, a five-time All-MWC honoree during his tenure with the Rams, finished his college career as Colorado State’s all-time leading scorer (with 2,350 career points) and passer (863 career assists), while also making the most three-pointers (253) in team history.

Last season, Stevens averaged 16.0 points per game on a .474/.440/.836 shooting line. He also dished out 6.8 dimes, pulled down 6.8 boards, and swiped 1.2 steals per night.

At present, all three of the Heat’s two-way player slots are occupied. Stevens is the team’s second reported Exhibit 10 signing, along with Bryson Warren.

An Exhibit 10 contract is a non-guaranteed minimum-salary deal that doesn’t count against a team’s cap unless the player makes the regular season roster. It can be converted to a two-way contract before the season begins or can put a player in line to earn a bonus of up to $77.5K if he’s waived and then spends at least 60 days with his team’s G League affiliate.

Spurs Trade Graham, Second-Round Pick To Hornets; Graham Waived

July 6th, 2024 at 3:35pm CST by Alex Kirschenbaum

3:35pm: After officially waiving three players to create additional cap room, the Hornets have completed their trade for Graham and New Orleans’ 2025 second-round pick, per a team release. They sent out cash to San Antonio and immediately waived Graham, as expected.

2:26pm: The Hornets will receive New Orleans’ 2025 second-round pick in the deal, while the Spurs receive cash, sources tell Andrew Lopez of ESPN (Twitter link).

12:41pm: The Spurs are trading Devonte’ Graham and a second-round draft pick to the Hornets, one of the veteran guard’s former teams, reports Adrian Wojnarowski of ESPN (Twitter link).

Graham won’t be back in Charlotte for long, though. According to Wojnarowski, the Hornets plan to waive Graham, making him an unrestricted free agent. The guard’s $12.65MM is partially guaranteed for $2.85MM, so Charlotte will have to take his fully salary into its cap room but will only end up on the hook for $2.85MM.

The 6’1″ Kansas alum, 29, played sparingly with the Spurs last season, averaging just 5.0 points per game on a .352/.301/.813 shooting line. He appeared in just 23 contests, logging 13.6 minutes per night.

Graham kicked off his NBA career with the Hornets, for whom he played from 2018-21. He spent 2021/22 and part of ’22/23 with the Pelicans before being traded to San Antonio midway through that season. During his best year, 2019/20, Graham finished fifth in Most Improved Player voting, averaging 18.2 points, 7.5 assists, 3.4 rebounds and 1.0 steals per game.

As cap expert Yossi Gozlan notes (via Twitter), this deal will give San Antonio some additional cap relief — the team now projects to have up to about $19MM in cap space.

As Gozlan notes, the Spurs could theoretically take back the mid-sized contract of a veteran wing like Harrison Barnes or Kevin Huerter to help orchestrate a three-team sign-and-trade with the Bulls and Kings to send All-Star wing DeMar DeRozan to Sacramento. San Antonio likely has something specific up its sleeve that will require a bit of extra breathing room below the cap, since Graham’s $2.85MM partial guarantee was pretty minimal.

The Hornets are reportedly waiving Davis Bertans in order to open up the cap room necessary to take on Graham’s salary.

Hornets Cut Aleksej Pokusevski, Bryce McGowens

July 6th, 2024 at 3:34pm CST by Luke Adams

3:34pm: Pokusevski and McGowens have officially been waived, according to a release from the Hornets.

2:40pm: The Hornets will create some additional salary cap flexibility by waiving two more players on non-guaranteed contracts. The team is cutting forward Aleksej Pokusevski, according to Shams Charania of The Athletic (Twitter link), as well as wing Bryce McGowens, per Rod Boone of The Charlotte Observer (Twitter link).

The 17th pick in the 2020 draft, Pokusevski spent three-and-a-half seasons in Oklahoma City before being waived by the Thunder in February. He caught on with the Hornets a few days later and played a regular role off the bench in Charlotte down the stretch, averaging 7.4 points, 4.4 rebounds, and 1.7 assists in 19.2 minutes per game across 18 appearances.

McGowens, meanwhile, has played in Charlotte for the past two seasons after being drafted 40th overall in 2022. The 21-year-old appeared in 59 NBA games last season, averaging 5.1 PPG, 1.7 RPG, and 0.9 APG with a .439/.333/.776 shooting line in 14.9 MPG.

Both Pokusevski ($2.27MM) and McGowens ($2.02MM) were on non-guaranteed minimum salary contracts. Cutting them is necessary to accommodate a series of moves the Hornets are completing using cap room, including trading for Devonte’ Graham, Josh Green, and Reggie Jackson. The club is also waiving Davis Bertans, whose salary is only partially guaranteed.

If Pokusevski and McGowens don’t catch on with another team right away and there’s mutual interest in a return to the Hornets, there would be no rule stopping Charlotte from re-signing them on new minimum deals. But it’s unclear whether or not that’s the plan for either player.

Hornets Waive Davis Bertans

July 6th, 2024 at 3:33pm CST by Alex Kirschenbaum

3:33pm: The Hornets have cut Bertans, the team confirmed in a press release. He’s on track to clear waivers on Monday.

1:01pm: The Hornets will waive veteran power forward Davis Bertans, reports Shams Charania of The Athletic (Twitter link).

Bertans has a $16MM salary for 2024/25, but only $5.25MM of that total is guaranteed. Charlotte will be on the hook for that partial guarantee, creating more than $10MM in cap room in the move.

Ahead of Charania’s report, cap expert Yossi Gozlan had speculated (via Twitter) that Charlotte might make this move to accommodate the incoming salary of veteran point guard Devonte’ Graham in its trade with the Spurs. The Hornets are acquiring their former guard in exchange for a second-round draft pick from San Antonio. Graham is slated to be waived as well.

Bertans, 31, was dealt to the Hornets from the Thunder midway through the 2023/24 season in the Gordon Hayward trade. He saw his role expand on a lottery-bound Charlotte squad, averaging 8.8 points on a .394/.375/.889 shooting line.

A career 39.6% percent shooter on 4.7 long-range attempts a night, the 6’10” vet could have a decent market for his services as a floor-spacing stretch four. Given that this is at this point his only true skill and he’s now over 30, Bertans will probably be on the hunt for a veteran’s minimum-level deal.

Wizards Acquire Jonas Valanciunas In Sign-And-Trade

July 6th, 2024 at 3:25pm CST by Rory Maher

JULY 6: The Wizards have officially added Valanciunas, completing the signing via sign-and-trade, the team announced today in a press release.

Washington was able to take on Valanciunas using a $9.8MM trade exception created in last July’s Monte Morris trade, preserving its full $12.9MM mid-level exception.

In exchange for accommodating the Wizards, the Pelicans received the Bulls’ top-50 protected 2027 pick. That pick may not actually convey, but New Orleans will also create a trade exception of its own equivalent to Valanciunas’ outgoing salary, which will be around $9.9MM, per Christian Clark of NOLA.com (Twitter link).

Valanciunas’ contract will be fully guaranteed for the first two years and non-guaranteed in year three, tweets Michael Scotto of HoopsHype.

JUNE 30: The Wizards have found a new starting center, having agreed to terms with Jonas Valanciunas on a three-year, $30MM contract, sources tell Adrian Wojnarowski of ESPN (Twitter link).

According to Josh Robbins of The Athletic, it’s a straight three-year deal, with no player or team option (Twitter link).

Jake Fischer of Yahoo Sports linked Valanciunas to the rebuilding Wizards just before free agency opened. The Lakers were reportedly among the other suitors for the 32-year-old.

As cap expert Yossi Gozlan tweets, Washington has a couple options to complete the move. The most straightforward way would be to use the non-taxpayer mid-level exception. However, the Wizards also have a trade exception that could be used to acquire Valanciunas via sign-and-trade, which could be help the Pelicans — Valanciunas’ former club — find a starting center to replace the veteran big man if the deal is expanded. Either scenario would see the Wizards hard-capped at the first tax apron.

One of the NBA’s best rebounders on a per-minute basis, Valanciunas is a throwback center who primarily operates out of the low post, relying on size and strength rather than agility and athleticism. He has been quite durable over the course of his 12-year career, including playing all 82 games for New Orleans in 2023/24.

Overall, Valanciunas averaged 12.2 PPG, 8.8 RPG and 2.1 APG on .559/.308/.785 shooting in 23.5 MPG last season.

While he has his limitations, primarily on defense, Valanciunas will provide veteran leadership, professionalism, toughness, and production in the middle for a young Wizards team that added its presumptive center of the future (Alex Sarr) on Wednesday with the No. 2 overall pick in the draft.

Pascal Siakam Signs Sign Four-Year Max Deal With Pacers

July 6th, 2024 at 3:20pm CST by Luke Adams

JULY 6: Siakam has officially re-signed with the Pacers, according to the NBA’s transaction log. Assuming Siakam got the full max, as expected, the deal is worth approximately $188.95MM over four years.

JUNE 19: Siakam intends to sign a four-year, maximum-salary contract with the Pacers after the July moratorium ends, according to ESPN’s Adrian Wojnarowski (via Twitter). As outlined below, a four-year max deal would be worth $189.5MM based on the most recent cap projections.

JUNE 18: The Pacers and star forward Pascal Siakam are nearing an agreement on a long-term contract, reports Scott Agness of Fieldhouse Files (Twitter link).

The No. 3 free agent on our top-50 list, Siakam was traded from Toronto to Indiana in January after spending the first seven-and-a-half seasons of his NBA career in Toronto, where he earned two All-Star berths, two All-NBA nods, a Most Improved Player award, and a championship.

In his first 41 regular season games as a Pacer, the 30-year-old averaged 21.3 points, 7.8 rebounds, and 3.7 assists in 31.8 minutes per game with a shooting line of .549/.386/.699. Siakam was Indiana’s leading scorer in both the regular season and the playoffs — he averaged 21.6 PPG on 54.1% shooting in the postseason and helped lead his new club to series victories over Milwaukee and New York, resulting in the franchise’s first appearance in the Eastern Conference finals in 10 years.

The expectation is that Siakam, who is coming off a four-year, maximum-salary rookie scale extension, will once again get the max or something very close to it on his new deal with the Pacers, though no terms have been reported yet. A max contract for Siakam projects to be worth approximately $189.5MM over four years or $245.3MM over five.

The NBA and NBPA agreed to a rule change that goes into effect this offseason, allowing teams to begin negotiating with their own free agents on the day after the end of the NBA Finals instead of on June 30.

Technically, the Pacers were allowed to talk to Siakam even before Tuesday, since he has been extension-eligible since arriving in Indiana. However, a player’s years and dollars in an extension are capped for six months after a trade, so Siakam will likely end up becoming a free agent and then signing a new contract instead of extending his current deal. That means that even if he and Indiana reach an agreement shortly, it’s unlikely to become official until July 6, after the moratorium ends.

With a new deal for Siakam on the books and Tyrese Haliburton‘s own five-year, maximum-salary extension taking effect in 2024/25, the Pacers won’t have any cap room available this offseason, barring cost-cutting moves. They’ll have some breathing room below the luxury tax line for now, but will have a few more contract decisions to make after they work out a deal with Siakam — Obi Toppin will be eligible for restricted free agency, Jalen Smith holds a $5.4MM player option that he may decline, and T.J. McConnell will be extension-eligible beginning in July.

Lakers Re-Sign Colin Castleton To Two-Way Contract

July 6th, 2024 at 3:11pm CST by Luke Adams

The Lakers are bringing back center Colin Castleton on a two-way contract, per Michael Scotto of HoopsHype (Twitter link). The signing is official, according to the transaction log at NBA.com.

Castleton, 24, joined the Lakers on a two-way contract last July after going undrafted out of Florida. He logged just 59 total minutes in 16 games with Los Angeles at the NBA level, but had a bigger role in the G League, where he appeared in 24 Showcase Cup and regular season games for the South Bay Lakers. The big man averaged 16.4 points, 10.6 rebounds, 3.2 assists, and 1.6 blocks in 28.8 minutes per game for L.A.’s G League affiliate.

The Lakers issued Castleton a two-way qualifying offer last week, making him a restricted free agent. The move ensured that he couldn’t sign a contract with another team without L.A. having the ability to match it.

With Castleton back under contract, the Lakers now have all three of their two-way contract openings filled, as our tracker shows. Undrafted rookies Blake Hinson and Armel Traore occupy the other two slots.

Patrick Williams Signs Five-Year Deal With Bulls

July 6th, 2024 at 2:19pm CST by Arthur Hill

JULY 6: The Bulls have officially re-signed Williams, the team confirmed today in a press release.

JUNE 29: Free agent forward Patrick Williams will re-sign with the Bulls for $90MM over five years, according to Shams Charania of The Athletic (Twitter link). The fifth season will be a player option, tweets Jamal Collier of ESPN.

Williams, 22, was expected to be a cornerstone of the franchise when Chicago selected him with the fourth pick in the 2020 draft. He hasn’t lived up to that billing due to injuries and inconsistent play, but executive Arturas Karnisovas decided to make keeping him a priority as part of his effort to build a younger and more athletic roster.

Williams received a $12.97MM qualifying offer this week, making him a restricted free agent. That means the Bulls could have matched any offer he received, but they opted to bypass that possibility by negotiating a new deal before free agency begins Sunday evening.

A stress reaction in Williams’ left foot cut short his season and forced him to undergo surgery in February. He averaged 10.0 points, 3.9 rebounds and 1.5 assists in 43 games, but he wasn’t able to play after January 25.

A report this week indicated that the Bulls were optimistic about their chances of working out a new contract with Williams. The Thunder were believed to be among the teams that had interest in pursuing him.

Williams will get a healthy raise after earning $9.8MM this season in the final year of his rookie contract. When he and the Bulls discussed a possible rookie scale extension last fall, the forward turned down a four-year, $64MM offer and was believed to be seeking something closer to De’Andre Hunter‘s contract (four years, $90MM), per K.C. Johnson of NBC Sports Chicago. This new deal represents a compromise for the two sides.

Celtics Sign Baylor Scheierman To Rookie Contract

July 6th, 2024 at 2:16pm CST by Alex Kirschenbaum

The Celtics have officially inked No. 30 draft pick Baylor Scheierman to his rookie deal, according to a team press statement.

The 6’6″ swingman enjoyed a decorated five-year collegiate career, splitting his time between South Dakota State and Creighton.

He was twice named an All-Summit League First-Teamer in 2021 and ’22 while with South Dakota State, where he finished as the Summit League Player of the Year. He blossomed at Creighton. During his two-year tenure there, he was named as an All-Big East First-Teamer and an All-American Third-Teamer in 2024.

In his fifth and final NCAA season, Scheierman posted a college-best average of 18.5 points on a .448/.381/.876 shooting line. He also notched 9.0 rebounds, 3.9 assists, and 0.9 swipes a night.

Now, he’ll be hard-pressed to earn significant run with the reigning champs. Fresh off a 64-18 regular season finish and a 16-3 postseason run to their 18th title, the Celtics have enjoyed an active offseason so far, locking in their various incumbent veterans to defend their title in 2024/25.

Boston already boasts major depth along the wing, but Scheierman could have some value as a catch-and-shoot release valve for the club’s three-point-centric offense. As the final pick of the first round, his contract is expected to be worth about $12.8MM over four years.

Wizards Waive Landry Shamet

July 6th, 2024 at 2:12pm CST by Alex Kirschenbaum

2:12pm: The Wizards have officially requested waivers on Shamet, the team confirmed in a press release. He’ll clear waivers on Monday, assuming he goes unclaimed.

1:12pm: The Wizards will cut shooting guard Landry Shamet, per ESPN’s Adrian Wojnarowski (Twitter links).

The 6’4″ vet had a $11MM non-guaranteed salary for next season. With that off the table, he’s on track to become an unrestricted free agent, assuming he clears waivers.

Shamet had initially signed a four-season, $42.5MM extension with the Suns in 2021, but only the first two years of that deal were fully guaranteed.

The well-traveled guard was an All-Rookie Teamer in 2018/19 after being selected by the Sixers with the No. 26 pick out of Wichita State.

Beyond the Sixers, Suns, and Wizards, Shamet has also suited up for the Clippers and Nets. Across 46 healthy games with the Wizards last season, he averaged 7.1 points, 1.3 rebounds, 1.2 assists and 0.5 steals in 15.8 minutes per night off the bench.

As a 38.4% long-range sniper on 4.9 three-point attempts per game, Shamet should generate interest once he clears waivers. He is now one of the top veteran free agent backcourt options available on the open market.