Transactions Rumors | Hoops Rumors

Raptors Sign Bruno Fernando

August 2nd, 2024 at 9:30pm CST by Luke Adams

9:30pm: The Raptors have officially signed Fernando, according to NBA.com’s transaction log.

7:11am: The Raptors have agreed to terms on a contract with free agent big man Bruno Fernando, a source tells Blake Murphy of Sportsnet.ca (Twitter link).

According to Murphy, it’ll be a non-guaranteed deal that will give Fernando a chance to compete for a spot on Toronto’s 15-man regular season roster. He would assure himself of some guaranteed money by making the team.

The contract won’t include Exhibit 10 language, Murphy adds, so Fernando wouldn’t be ticketed for the Raptors 905 in the G League if he’s waived before the season.

A five-year veteran who was a second-round pick in 2019, Fernando began his NBA career with the Hawks before being traded to Boston in August 2021 and then to Houston in February 2022. He was dealt back to Atlanta in February 2023.

After playing eight games for the Hawks down the stretch of the 2022/23 season, Fernando didn’t play much at all in the first half of ’23/24, appearing in just 13 of Atlanta’s first 49 games for an average of 6.5 minutes per contest. However, he was thrust into a larger role in the second half due to a series of frontcourt injuries, averaging 7.6 PPG and 5.2 RPG while shooting 59.4% from the floor and 70.1% from the line over his final 32 games (18.7 MPG).

Fernando, who will turn 26 later this month, was waived by Atlanta earlier this week before his $2.7MM salary for 2024/25 could become guaranteed.

The Raptors are currently carrying 14 players on guaranteed standard contracts, plus Jamison Battle on an Exhibit 10 contract. Once Fernando’s deal is official, the club will have 19 players under contract, including its three on two-way deals.

It wouldn’t be surprising to see Toronto bring in another veteran or two besides Fernando to compete for that 15th regular season roster spot.

Celtics Sign Anton Watson To Two-Way Contract

August 2nd, 2024 at 3:38pm CST by Arthur Hill

3:38pm: Watson’s two-way contract with the Celtics is official, according to the team (Twitter link).

12:39pm: Second-round pick Anton Watson will sign a two-way contract with the Celtics, a league source tells Adam Himmelsbach of The Boston Globe (Twitter link).

The 23-year-old small forward was the 54th selection in this year’s draft after playing five seasons at Gonzaga. He averaged career highs of 14.5 points, 7.1 rebounds and 2.6 assists last season while shooting 57.8% from the field and 41.2% from three-point range.

Watson played for Boston’s entry in the Las Vegas Summer League, putting up 11.8 points and 5.2 rebounds in five games.

Watson is eligible to appear in up to 50 NBA games on his two-way deal, but he’ll likely spend most of his rookie season in the G League given the quality of the Celtics’ roster. Once Watson’s signing is complete, he’ll join JD Davison and Drew Peterson as Boston’s two-way players.

TyTy Washington Signs Two-Way Contract With Suns

August 2nd, 2024 at 2:34pm CST by Arthur Hill

2:33pm: Washington’s contract is official, the Suns announced (via Twitter).

10:12am: Free agent guard TyTy Washington will sign a two-way contract with the Suns, agent Kevin Bradbury of Lift Sports tells ESPN’s Adrian Wojnarowski (Twitter link).

Washington, 22, appeared in 11 games with Milwaukee last season on a two-way deal, averaging 1.3 PPG in 5.1 minutes per night. He spent much of the season in the G League with the Wisconsin Herd.

Washington was a first-round selection out of Kentucky in the 2022 draft, taken by Houston with the 29th pick. He was limited to 31 games as a rookie while also splitting time in the G League.

The Rockets shipped Washington to Atlanta last summer as part of a complex five-team deal. Four days later, the Hawks moved him to Memphis, which eventually waived him, and he signed with the Bucks in late August.

The addition of Washington will fill Phoenix’s last open two-way slot. Collin Gillespie and Jalen Bridges were signed to two-way deals last month.

Cavs Sign Jarrett Allen To Three-Year Extension

August 2nd, 2024 at 1:22pm CST by Luke Adams

AUGUST 2: Allen’s extension is official, the Cavaliers announced in a press release.

“We couldn’t be more excited that Jarrett Allen chose to extend in Cleveland for the prime of his career,” president of basketball operations Koby Altman said. “Jarrett’s growth as a player, at just 26 years old, was accelerated when he earned his first All-Star selection in 2022. He is the anchor of our core group of players and his presence fits our vision for sustainable success. Jarrett also embodies the culture and values of our organization, and we look forward to achieving even greater things together.”

JULY 31: The Cavaliers and center Jarrett Allen have agreed to a three-year extension that will begin in 2026/27, when the big man’s current deal expires, agent Derrick Powell tells Adrian Wojnarowski of ESPN.

According to Wojnarowski, the deal will be worth the maximum that Allen can receive on a veteran extension, which is just shy of $91MM over three years.

Players are permitted to receive up to 40% raises in the first year of an extension and Allen will make $20MM in 2025/26. That means he’ll earn $28MM in the first year of his new deal, followed by salaries of $30.24MM in ’27/28 and $32.48MM in ’28/29, for a total of $90.72MM.

Allen, 26, has spent the past three-and-a-half seasons in Cleveland, emerging as one of the NBA’s most reliable starting centers during that time. After starting his career in Brooklyn, he became a Cavalier as a result of the four-team blockbuster trade in January 2021 that sent James Harden to Brooklyn, then re-signed with the Cavs on a five-year, $100MM contract during the summer of 2021.

Allen was named an All-Star in 2022 and has averaged 15.1 points, 10.3 rebounds, 2.0 assists, and 1.2 blocks in 31.8 minutes per game with a .642 FG% across 252 outings (241 starts) since arriving in Cleveland. He established new career highs in PPG (16.5) and APG (2.7) this past season, but a rib injury in April ended his season early, sidelining him for the Cavs’ last eight playoff games, including the entire second-round series vs. Boston.

Allen is the third Cavaliers starter to agree to a lucrative multiyear contract extension this offseason, joining Donovan Mitchell and Evan Mobley. Cleveland will now have its top four players – Mitchell, Mobley, Allen, and Darius Garland – under contract through at least 2027 — Mitchell holds a player option for 2027/28.

While Allen has been the subject of some trade speculation in recent years – the Pelicans are known to have significant interest in him – signing this extension will make him ineligible to be dealt for six months.

Unless he waits until August 7 or later to sign his new contract, Allen will become trade-eligible prior to the February 6 trade deadline.

Bucks Waive Jaylin Galloway

August 1st, 2024 at 7:18pm CST by Alex Kirschenbaum

The Bucks have waived two-way player Jaylin Galloway to create a roster spot for reported new two-way addition Anzejs Pasecniks, per Keith Smith of Spotrac (Twitter link).

An Australian-born swingman, Galloway opted to forgo college in favor of playing for the Sydney Kings in Australia’s National Basketball League as a developmental prospect beginning in 2020. He eventually won a championship with Sydney in 2022 and has also played for a pair of NBL1 North semi-pro teams, the Mackay Meteors and Ipswich Force.

Galloway, 21, inked a two-way deal with the Bucks in March this past season. However, he didn’t appear in a game for Milwaukee during his tenure with the team.

Across seven contests with the Bucks’ NBAGL affiliate squad, the Wisconsin Herd, Galloway averaged 4.7 points on a .406/.143/.667 shooting line, along with 3.4 rebounds, 1.4 assists and 1.3 blocks per game.

In Galloway’s stead, Pasecniks now joins the Bucks’ two remaining two-way players, point guard Ryan Rollins and shooting guard Stanley Umude.

Knicks Sign Chuma Okeke

August 1st, 2024 at 6:16pm CST by Rory Maher

6:16pm: The Knicks have officially announced (via Twitter) the signing of Okeke to an Exhibit 10 deal.

12:04pm: The Knicks plan to sign free agent forward Chuma Okeke, sources tell Michael Scotto of HoopsHype (Twitter link).

Okeke, who played a couple of college seasons at Auburn, was the 16th overall pick of the 2019 draft. He has spent the past five years with the Magic, holding career averages of 6.3 points, 3.7 rebounds and 1.5 assists in 189 regular season games, including 55 starts (20.3 minutes per contest). He posted a .383/.318/.789 shooting line over that span.

Okeke had an unusual start to his professional career, as he didn’t sign his rookie scale contract until 2020, a year after he was drafted, due to a torn ACL. That meant he hit free agency a year later than his 2019 first-round draft classmates as well. He became an unrestricted free agent when Orlando chose not to give him a $7.4MM qualifying offer.

Known primarily for his excellent work on the defensive end, Okeke has unfortunately battled injuries since he turned pro, playing between 27 and 47 games in three of his four active seasons. He was not a rotation regular in 2023/24 for Orlando, averaging a career-low 9.2 minutes per contest.

While the terms of the contract were not disclosed, it seems likely be a one-year, minimum-salary deal, perhaps with a partial guarantee. The Knicks currently have 14 players on standard contracts, so Okeke could be battling for a potential 15th spot in training camp, assuming the team decides to carry a full roster.

Hornets Cut Leaky Black

August 1st, 2024 at 5:53pm CST by Alex Kirschenbaum

The Hornets have waived two-way player Leaky Black, the team announced via Twitter.

Just a few weeks ago, the young forward was expressing a desire to earn a spot on the club’s standard 15-man roster. Now, it looks like he may have to seek out his next NBA opportunity elsewhere.

Across 26 contests with Charlotte (three starts), the 6’9″ UNC alum averaged 2.7 points on a .481/.450/.667 shooting line, along with 1.8 rebounds and 0.9 assists per game. In seven appearances for Charlotte’s G League affiliate, the Greensboro Swarm, Black averaged 10.8 PPG, 8.6 RPG, 2.4 APG, and 1.7 SPG.

Roderick Boone of The Charlotte Observer notes that Black seemed to have shored up his offense during his Summer League games with the team this offseason, specifically showing off an updated jump shot.

The Hornets now have one open two-way slot. Third-year center Moussa Diabate and rookie point guard KJ Simpson are occupying the other two-way spots on the roster. The Hornets also still have one of their 15 standard roster spots available.

Grizzlies Sign Luke Kennard To One-Year Deal

July 31st, 2024 at 9:10pm CST by Luke Adams

9:10pm: The signing is official, the team announced in a press release (Twitter link).

11:54am: Free agent sharpshooter Luke Kennard is returning to the Grizzlies, according to Adrian Wojnarowski of ESPN, who hears from sources that the two sides have reached an agreement on a one-year, $11MM deal.

The Grizzlies turned down Kennard’s $14.8MM team option for the 2024/25 season on June 29, making him an unrestricted free agent, but the expectation was always that he’d agree to a more team-friendly deal to remain in Memphis.

Reporting at the time his option was declined indicated that Kennard and the team were “eager” to discuss a new contract, and the 28-year-old was never linked to any other suitors during the month he spent on the open market.

Kennard was limited to just 39 games (22 starts) this past season for health reasons, including a left knee bone bruise, but was effective when he was available, with averages of 11.0 points, 3.5 assists, and 2.9 rebounds in 25.6 minutes per game.

One of the NBA’s best three-point shooters, the 6’5″ wing has made at least 44.6% of his attempts from beyond the arc in each of the past four seasons, including 45.0% in 2023/24.

Kennard was the No. 29 player on our list of this summer’s top 50 free agents. He was the only unrestricted free agent in the top 40 who remained unsigned.

Prior to officially re-signing Kennard, the Grizzlies are carrying 13 players on standard contracts, with a team salary of approximately $160.75MM. Assuming the $11MM salary reported by Wojnarowski is accurate, Kennard’s new deal would push team salary above the luxury tax line by about $1MM. That figure would increase if Memphis wants to add a 15th man or decides to waive Mamadi Diakite (whose salary is partially guaranteed) to replace him with another minimum-salary player.

Still, as Keith Smith of Spotrac tweets, that surplus is small enough that it likely wouldn’t be too difficult for the Grizzlies to duck out of luxury tax territory at some point later in the season. A team’s tax bill isn’t calculated until the end of the season.

Hornets Sign Moussa Diabate To Two-Way Contract

July 31st, 2024 at 5:33pm CST by Luke Adams

JULY 31: The signing is official, according to a team press release.

JULY 29: The Hornets and free agent big man Moussa Diabate have agreed to terms on a two-way contract, reports Adrian Wojnarowski of ESPN (Twitter link).

Diabate, 22, was the 43rd overall pick of the 2022 draft out of Michigan. The 6’10” French center has spent his first two professional seasons on two-way contracts with the Clippers, appearing in 33 total NBA games during that time.

Diabate’s contributions at the NBA level have been modest — he has averaged just 2.7 points and 2.2 rebounds in 7.8 minutes per game for Los Angeles. However, he has been a regular starter for the Ontario Clippers in the G League during those two seasons. In 2023/24, he averaged 15.5 PPG, 10.2 RPG, and 1.9 BPG in 19 Showcase Cup and regular season NBAGL games (30.0 MPG).

The Clippers opted not to tender Diabate a qualifying offer in June, so he became an unrestricted free agent on July 1, clearing the way for him to sign freely with any NBA team.

Diabate will fill the third two-way slot in Charlotte. The Hornets are currently carrying Leaky Black and 2024 second-round pick KJ Simpson on two-way deals.

Devonte’ Graham Signs Non-Guaranteed Contract With Blazers

July 31st, 2024 at 1:35pm CST by Dana Gauruder

JULY 31: The signing is official, the Blazers confirmed today in a press release. Graham’s contract is non-guaranteed, Aaron Fentress of The Oregonian confirms (via Twitter).

JULY 30: Free agent guard Devonte’ Graham has agreed to a one-year deal with the Trail Blazers, ESPN’s Adrian Wojnarowski tweets. Graham appeared in 46 games with the Spurs the past two seasons.

Graham wound up on the free agent market after the Spurs traded him to the Hornets earlier this month and Charlotte waived him. Graham’s $12.65MM contract was only partially guaranteed for $2.85MM before he was cut loose.

Terms of the contract with the Blazers haven’t been revealed, but Sean Highkin of Rose Garden Report believes it’s a camp deal, noting the Blazers currently have all 15 roster spots filled. One of those players, Dalano Banton, has a partially guaranteed contract. His $2.2MM salary is only guaranteed for $217,533 if he’s waived before opening night.

Graham, 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 only 23 contests, logging 13.6 minutes per night.

Graham began 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.