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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.

Bulls Waive Marko Simonovic

July 6th, 2023 at 4:16pm CST by Dana Gauruder

The Bulls are waiving center Marko Simonovic, Shams Charania of The Athletic tweets. The move is official, per NBA.com’s transaction log.

The seven-foot Simonovic has only appeared in 16 games over the last two seasons, so the move didn’t come as a surprise.

The 2020 second-round pick signed a multi-year contract in 2021 but his $1,836,096 salary for next season wasn’t guaranteed. Chicago had until Friday to decide whether to give him that full amount, as shown in our list of early salary guarantee dates for 2023/24.

Simonovic played 25 games last season for the G League Windy City Bulls, including 23 starts. He averaged 15.9 points and 9.9 rebounds in 28.3 minutes per game.

Simonovic’s release leaves open a backup center spot behind Nikola Vucevic and Andre Drummond.

Hornets Sign LaMelo Ball To Five-Year Max Extension

July 6th, 2023 at 4:04pm CST by Alex Kirschenbaum

JULY 6: The Hornets and Ball have officially finalized their deal, with the team issuing a press release to confirm the signing.

JULY 1: The Hornets and LaMelo Ball are finalizing a five-year designated rookie extension that will be worth the maximum salary, according to Shams Charania of The Athletic (Twitter link). Agent Sam Permut tells Adrian Wojnarowski of ESPN (Twitter link) that the two sides have reached an agreement.

Ball’s starting salary on the new deal will pay him at least 25% of the 2024/25 cap. Charania’s report suggests there will be Rose Rule language that could increase that figure to 30% of the cap if Ball earns All-NBA honors next season.

The exact value of the contract will depend on where the ’24/25 cap lands and whether Ball meets the Rose Rule criteria, but even in a worst-case scenario, it will be worth well north of $200MM. In a best-case scenario (30% starting salary, 10% cap increase), it would be worth $260MM.

Charlotte selected the 6’7″ point guard with the third overall pick in the 2020 draft. He immediately emerged as a lethal and creative scorer all over the floor, and was named the 2020/21 Rookie of the Year despite being limited to just 51 out of 72 possible games (31 starts) in his first season due to injuries.

Ailments have been a recurring theme in Ball’s young career, outside of a relatively healthy 75-game run in 2021/22, during which he made his first All-Star team as an injury replacement.

A right ankle fracture ended his 2022/23 campaign early. He played in just 36 contests for the 27-55 Hornets. When Ball did play last year, he remained his stellar statistical self, though it didn’t particularly contribute to winning. He notched 23.3 PPG on .411/.376/.836 shooting splits, 8.4 APG, 5.4 RPG and 1.3 SPG.

Charlotte is undergoing some major changes this summer. The team selected highly-touted Alabama forward Brandon Miller, widely considered to be another All-Star caliber prospect, using the second pick in this year’s draft. Former longtime majority owner Michael Jordan also sold most of his shares in the club to a new ownership group, led by tech investor Ian Loring and several notable North Carolinians. The Hall of Famer will still retain a stake in the franchise moving forward.

Cavs Acquire Max Strus In Three-Team Sign-And-Trade

July 6th, 2023 at 4:01pm CST by Luke Adams

JULY 6: The trade is official, the Heat announced (via Twitter). As part of the deal, Miami will also swap second-round picks with the Spurs, with Miami receiving a 2027 selection and San Antonio receiving a 2026 pick. The Cavs are also sending cash to the Spurs.

JULY 1: The Cavaliers, Heat, and Spurs have agreed to a three-team deal that will land Max Strus in Cleveland via sign-and-trade, reports Adrian Wojnarowski of ESPN (Twitter link). Agent Mark Bartelstein tells Wojnarowski that Strus has agreed to a four-year, $63MM contract with the Cavs.

Miami will acquire a second-round pick and will create a trade exception in the deal, while San Antonio will receive Cedi Osman, Lamar Stevens, and a second-round pick, according to Wojnarowski.

The second-rounder going to Miami is the Lakers’ 2026 pick, while the one headed to San Antonio is Cleveland’s 2030 selection, reports Chris Fedor of Cleveland.com.

Strus had been repeatedly mentioned as a top target for the Cavs in the days and hours leading up to free agency. A report on Thursday indicated Cleveland hoped its $12.4MM mid-level exception would be enough to land the 27-year-old, but with rumors suggesting his market was above the MLE, a report on Friday suggested the Cavs were looking into three-team sign-and-trade scenarios.

Right before free agency opened, Marc Stein reported that a scenario in which the Cavs sign-and-trade for Strus and use their mid-level exception to add Georges Niang appeared “increasingly likely.” Sure enough, Cleveland is poised to add both players, having reached an agreement with Niang on Friday night.

A former undrafted free agent who had brief stints in Boston and Chicago early in his career, Strus blossomed into a reliable rotation player in Miami during the last two seasons. In 148 games since the start of 2021/22, he has averaged 11.1 points and 3.1 rebounds in 26.1 minutes per night, with a shooting line of .423/.376/.845. He moved ahead of Duncan Robinson in the Heat’s rotation during that time in large part due to his more stable presence on defense.

The Cavs had been on the lookout for a wing to complement starters Donovan Mitchell, Darius Garland, Jarrett Allen, and Evan Mobley for the better part of the year. Strus should slot into that role nicely along with Caris LeVert, who also agreed to return to Cleveland.

In moving off Osman and Stevens in this trade, the Cavs should still be about $12.5MM below the luxury tax line with 10 players on the books, tweets Yossi Gozlan of HoopsHype.

The Heat, who project to be a taxpayer in 2023/24, had been bracing for Strus’ departure, recognizing that they weren’t prepared to match his price on the open market. They reportedly didn’t want to take any salary back in a sign-and-trade and were able to achieve that goal. The traded player exception they generate as part of the transaction will be worth half of Strus’ first-year salary — based on the reported terms of his deal, that TPE should come in at about $7MM.

As for the Spurs, they entered the day with more leftover cap room than any other NBA team and will use a portion of it to add a second-round pick and two forwards who are on expiring contracts and who should be in the mix for rotation roles if they remain on San Antonio’s roster.

Osman, who will earn $6.7MM in 2023/24 before reaching unrestricted free agency, has been a rotation player in Cleveland for the last six seasons, averaging 9.7 PPG, 3.0 RPG, and 2.0 APG with a .353 3PT% in 404 games (23.6 MPG) during that time.

Stevens, a solid defensive wing who doesn’t provide much on offense, has a $1.93MM non-guaranteed salary — some or all of that money will become guaranteed as part of this deal in order to satisfy the NBA’s salary-matching rules.

The Spurs will still have approximately $23-26MM in cap space available.