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Magic’s Franz Wagner Signs Five-Year Max Extension

July 6th, 2024 at 1:52pm CST by Rory Maher

JULY 6: Wagner’s maximum-salary extension is now official, according to a press release from the Magic (Twitter link).

JULY 5: The Magic are signing Franz Wagner to a five-year, maximum-salary rookie scale extension, reports Shams Charania of The Athletic and Stadium (via Twitter). It will be the biggest contract in franchise history.

ESPN’s Adrian Wojnarowski confirms that Wagner’s extension, which will begin in 2025/26, contains Rose rule language. Wagner would need to win MVP, Defensive Player of the Year, or make an All-NBA team in 2024/25 in order to earn a starting salary worth 30% of the ’25/26 salary cap instead of 25%.

Assuming the salary cap rises by 10% in ’25/26, Wagner will earn at least $224MM from 2025-30, with the potential to make about $269MM. ESPN’s Bobby Marks has a year-by-year breakdown of the projected extension (Twitter link).

The No. 8 overall pick of the 2021 draft after two college seasons at Michigan, Wagner has started every game in which he’s appeared for Orlando over his first three NBA seasons. The 22-year-old German posted career highs in several statistics in 2023/24, including points (19.7), rebounds (5.3), assists (3.7) and steals per game (1.1).

In addition to his two-way versatility, the 6’10” forward has been quite durable to this point in his career, only missing 15 of a possible 246 regular season games. Wagner won a gold medal with Germany at last summer’s World Cup and was on the team’s preliminary roster ahead of the 2024 Olympics in Paris, which open in late July. He called the chance to play in the Olympics “a dream come true.”

Wagner is the second player to agree to a rookie scale extension this summer, joining Raptors forward Scottie Barnes, who will also be signing a five-year max deal featuring Rose rule language. Pistons guard Cade Cunningham is also expected to sign a max extension, but the deal has yet to be finalized.

Wagner will earn just over $7MM next season in the final campaign of his rookie scale contract.

Derrick White Signs Four-Year Extension With Celtics

July 6th, 2024 at 1:50pm CST by Arthur Hill

JULY 6: The Celtics have officially signed White to his extension, the team confirmed today in a press release.

“Derrick is a great player who has immersed himself in the Boston community since joining us in the spring of 2021,” president of basketball operations Brad Stevens said in a statement. “Derrick brings a joy and selflessness to our building every single day. He’s committed to improving and has shown that in each year of his career. More importantly, he cares most about the things that matter, including building great relationships and competing with integrity. We are very lucky that Derrick is a Celtic and are thrilled he’ll be here for years to come.”

Boston also formally announced its super-max extension for Tatum.

JULY 1: Derrick White has agreed to a four-year, $125.9MM extension with the Celtics, sources tell ESPN’s Adrian Wojnarowski (Twitter link). The deal includes a player option in the final season, Wojnarowski adds.

The extension will take effect with the 2025/26 season, and White’s yearly salaries will be $28.1MM, $30.3MM, $32.6MM and $34.8MM, per Yossi Gozlan of HoopsHype (Twitter link). It’s the maximum amount White was eligible to get based on his current deal, but he might have landed more if he had waited for free agency next summer.

Signing White to a long-term contract was an offseason priority for the Celtics, who are also hoping to reach extensions with Jayson Tatum and Sam Hauser. Boston is reportedly re-signing Luke Kornet and Neemias Queta, so the core of the championship roster is likely to remain together for a while.

If Tatum agrees to a super-max extension this summer, as expected, Boston could have the most expensive team in league history next season and may top $200MM in salary by 2025/26, notes Bobby Marks of ESPN (Twitter link). Tax penalties are set to increase next year under the new Collective Bargaining Agreement, so management will have to determine how long it’s willing to accept that extra expense.

White, 29, has excelled in Boston since being acquired from San Antonio at the 2022 trade deadline. He averaged 15.2 points, 4.2 rebounds and 5.2 assists in 73 games last season while earning a second-team spot on the All-Defensive team.

White wasn’t a highly touted prospect when the Spurs selected him out of Colorado with the 29th pick in the 2017 draft. He established himself as a starter in San Antonio and is now considered one of the league’s best two-way guards.

Celtics Sign Jayson Tatum To Super-Max Extension

July 6th, 2024 at 12:52pm CST by Luke Adams

JULY 6: The richest contract in NBA history is now official, with the Celtics announcing in a press release that they’ve signed Tatum to his super-max extension.

“Jayson is a special person and player, and it’s been a thrill for all of us to watch his entire journey in Boston,” president of basketball operations Brad Stevens said in a statement. “He has embraced all that comes with being a great Celtic, and shows consistent and genuine care for every one of his teammates, coaches, and staff across the organization. Despite all the team accomplishments and individual awards, Jayson is committed to constantly improving. He works hard and is extremely driven by the challenges of the game – especially the goal of competing with his teammates for championships. We are obviously ecstatic that Jayson chose to extend his contract and add to his amazing career as a Boston Celtic.”

JULY 1: The Celtics and Jayson Tatum have agreed to terms on a five-year, super-max extension that will begin in 2025/26 and will start at 35% of the salary cap, reports Chris Haynes of TNT and Bleacher Report (Twitter link).

Based on the NBA’s latest cap projection, the five-year contract will start at approximately $54.13MM and will be worth a total of $313.93MM, making it the largest deal in league history. It will replace the $37MM player option for 2025/26 from Tatum’s current contract and will run through the ’29/30 season.

Tatum, who won his first championship this spring, earned All-NBA First Team honors for a third straight season after averaging 26.9 points, 8.1 rebounds, and 4.9 assists in 35.7 minutes per game with a .471/.376/.833 shooting line for the league’s top team.

The star forward met the super-max criteria, increasing his maximum salary from 30% of the cap to 35%, by making the All-NBA team in both 2022 and 2023. He needed one more year in the NBA in order to meet the service time criteria of at least seven years, but this move had been expected since last spring once he became eligible.

Tatum’s deal, which can be officially signed as early as July 6, is on track to be completed less than one year after his teammate Jaylen Brown signed a five-year super-max extension of his own. Brown’s deal, which went into effect today and previously held the title of biggest contract in NBA history, is worth approximately $285.4MM.

Having also agreed to a four-year, $125.9MM extension with guard Derrick White earlier today, the Celtics have locked up three of their five starters through at least the 2027/28 season, with a fourth (Jrue Holiday) holding a player option for that year. Boston’s fifth starter (Kristaps Porzingis) is under contract through ’25/26. It projects to be one of the league’s priciest rosters going forward, but the Celtics now have their championship core under team control for the long term.

The Celtics will become one of four teams who have multiple players on maximum-salary contracts that began at 35% of the cap. The Bucks (Giannis Antetokounmpo, Damian Lillard) and Sixers (Joel Embiid, Paul George) will have two apiece, while the Suns (Kevin Durant, Devin Booker, Bradley Beal) are carrying three.

Wizards Trade Deni Avdija To Trail Blazers

July 6th, 2024 at 12:46pm CST by Luke Adams

JULY 6: The trade is official, according to press release from the Wizards and the Trail Blazers. The terms are outlined below, with the rights to No. 14 pick Carlton Carrington headed to Washington along with Brogdon and the three future draft picks.

JUNE 26: The Wizards and Trail Blazers have agreed to a trade that will send forward Deni Avdija to Portland, reports Adrian Wojnarowski of ESPN (Twitter link).

In exchange for Avdija, Washington will receive guard Malcolm Brogdon, the No. 14 pick in Wednesday night’s draft, a 2029 first-round pick, and two second-rounders, according to Wojnarowski (Twitter link).

The 2029 pick will be the second-most favorable of the three first-rounders Portland controls, per Wojnarowski. Besides their own pick, the Blazers hold the Celtics’ and Bucks’ first-rounders in ’29.

The two second-rounders will be 2028 and 2030 picks, tweets Josh Robbins of The Athletic. The ’28 second-rounder could be either the Blazers’ own pick or the Warriors’ pick (Portland controls both), while the ’30 second-rounder will be either the Blazers’ own pick or the Knicks’ pick.

Avdija, who was selected ninth overall in the 2020 draft, has spent his first four NBA seasons in Washington and enjoyed a breakout year in 2023/24. In 75 games (all starts), he established new career highs in points (14.7), rebounds (7.2), and assists (3.8) per contest, as well as FG% (.506) and 3PT% (.374). The performance earned him a sixth-place finish in the Most Improved Player vote.

The 23-year-old is also on a very team-friendly contract for the next several seasons. He signed a four-year, $55MM rookie scale extension last offseason that will go into effect in July and will run through the 2027/28 season. It has a declining structure, starting at about $15.6MM and dipping to $11.9MM by year four.

While it’s a little surprising to see the retooling Trail Blazers as an aggressive buyer on the trade market, Avdija’s age and contract make him an ideal long-term fit in Portland. The deal will also create some financial flexibility for the Blazers, who projected to be over the first tax apron in 2024/25. As cap expert Yossi Gozlan tweets, moving off of Brogdon’s expiring $22.5MM salary and the No. 14 pick (which had a cap hold of about $4.5MM) will move team salary out of luxury tax territory.

Brogdon has appeared in more than 56 games just once in the past five seasons due to injuries and only played 39 times in 2023/24. However, he remains effective when he’s available, averaging 15.7 PPG, 5.5 APG, and 3.8 RPG in 28.7 MPG with a .440/.412/.819 shooting line in his first and only season as a Blazer. The 31-year-old won the Sixth Man of the Year award with Boston in 2023 but was sent to Portland in the Jrue Holiday trade last fall.

Still, it’s safe to assume that the draft pick were the primary motivator for the rebuilding Wizards, who were rumored for much of the spring to be eyeing a third first-round pick. While Avdija would have fit Washington’s timeline too, he was part of the roster that the current front office – led by team president Michael Winger and general manager Will Dawkins – inherited, so it seems they weren’t especially attached to him. Winger and Dawkins have reportedly made it a priority to build the new-look Wizards’ roster through the draft.

It’s unclear if the Wizards will keep Brogdon for the 2024/25 season or look to flip him to a new team. The veteran would make a logical trade chip, given his expiring contract and his age, and sources indeed tell Michael Scotto of HoopsHype (Twitter link) that he’ll be a candidate to be traded again. But Brogdon could also provide depth and veteran leadership in Washington’s backcourt if the team loses point guard Tyus Jones in free agency.

Due to the poison pill provision, the trade can’t be completed until July, notes ESPN’s Bobby Marks (via Twitter). That means the Blazers will make their pick at No. 14 tonight on behalf of the Wizards.

Magic Sign Kentavious Caldwell-Pope To Three-Year Contract

July 6th, 2024 at 12:40pm CST by Arthur Hill

JULY 6: Caldwell-Pope has officially signed with the Magic, the team confirmed today in a press release (Twitter link).

“We are thrilled to add a player like Kentavious to our roster,” team president Jeff Weltman said in a statement. “He is not only an outstanding defender and an excellent shooter, he brings high character and a championship pedigree to our backcourt. We’re very excited to welcome Kentavious to the Orlando Magic family.”

JUNE 30: The Magic are set to sign free agent wing Kentavious Caldwell-Pope to a three-year contract, reports Jeff Zillgitt of USA Today (Twitter link). The deal will be worth $66MM, according to ESPN’s Adrian Wojnarowski (Twitter link), and it includes a player option for the final season, per Shams Charania of The Athletic (Twitter link).

Caldwell-Pope is one of the top prizes in the 2024 free agent class after playing an important role for the Nuggets over the past two years and helping to spark the team’s 2023 title run. His blend of defense and outside shooting makes him a perfect fit in Orlando.

Denver would have preferred to keep its starting lineup intact, but other financial commitments made it difficult to retain Caldwell-Pope. Bennett Durando of The Denver Post p0ints out (via Twitter) that the $22MM annual salary Caldwell-Pope received from Orlando would have pushed the Nuggets into the second apron if they had given him that much.

However, Tony Jones of The Athletic hears that Denver made a three-year offer at close to the amount that Caldwell-Pope received from the Magic (Twitter link).

Speaking to reporters after the first night of the draft on Wednesday, Nuggets general manager Calvin Booth seemed resigned to the fact that Caldwell-Pope was likely leaving.

“I think when you look at some of the teams that have been good in the past, they have to find a way to replace fourth, fifth starters, sixth men off the bench and still keep rolling,” Booth said. “… I think if (Christian Braun) has to step into the starting lineup, I think we’ll be OK, if KCP doesn’t return.”

Caldwell-Pope is joining a Magic team loaded with young talent that just made its first playoff appearance in four years. He will presumably start alongside Jalen Suggs in the backcourt and will provide a three-point shooting threat that the team has lacked. Kevin O’Connor of the Ringer notes (via Twitter) that Orlando ranked 29th in three-point attempts and 24th in three-point percentage this season. Caldwell-Pope is a career 36.9% shooter from long-distance and connected at 40.6% this year.

The Magic’s agreement with KCP ends the Sixers’ hopes of finding a way to add both Paul George and Caldwell-Pope to a vastly revamped roster.

Kings Re-Sign Malik Monk To Four-Year Contract

July 6th, 2024 at 12:32pm CST by Luke Adams

JULY 6: The Kings have officially re-signed Monk, the team announced today (via Twitter).

According to Anthony Slater of The Athletic (Twitter link), Monk told reporters today that he’s fully recovered from the MCL injury that ended his season. He added that he could’ve taken more money from another team but that Sacramento “felt like home.”

JUNE 20: Free agent guard Malik Monk intends to re-sign with the Kings, according to ESPN’s Adrian Wojnarowski, who reports that Monk has agreed to a four-year contract worth approximately $78MM. The deal will include a fourth-year player option, Wojnarowski adds.

Monk, 26, spent his first four NBA seasons in Charlotte and one year with the Lakers before signing a two-year, $19.4MM contract with the Kings in 2022. He has enjoyed two of the best seasons of his career in Sacramento, emerging as a crucial scorer and play-maker off the bench and earning Sixth Man of the Year votes in both seasons — he finished fifth in 2023 and was the runner-up award for the award in 2024.

Monk set new career highs with 15.4 points and 5.1 assists per game for the Kings in 2023/24. While his three-point percentage has slipped a little since his final year with the Hornets (40.1%) and his one season in Los Angeles (39.1%), he has still knocked down 35.4% of his 5.5 attempts per contest during his time in Sacramento while taking his game to new heights as a ball-handler and play-maker.

Having just spent two years in Sacramento so far, Monk has Early Bird rights this offseason, which means the Kings are limited to giving him a 75% raise on his 2023/24 salary. That works out to a starting salary of $17,405,203 and a four-year total of $77,975,309.

There was a belief that another team might outbid the Kings’ max offer if Monk had made it to the open market. However, he either got early signals that a more lucrative offer wouldn’t be out there or simply decided that he preferred to remain in Sacramento, regardless of the other options that may have been available on June 30.

The NBA’s free agency rules changed this offseason, allowing teams to negotiate with their own free agents beginning one day after the end of the NBA Finals instead of having to wait until June 30. That allowed the Kings to strike an early deal with Monk, though the contract won’t be officially signed until July 6.

Monk is the second free agent to reach a tentative agreement with his team this week, joining Pascal Siakam of the Pacers. Unless one of those deals falls through, two of the top 10 players on our list of 2024’s top 50 free agents are now off the board. Monk came in at No. 10 on that list.

Nets Re-Sign Nic Claxton On Four-Year Deal

July 6th, 2024 at 12:14pm CST by Luke Adams

JULY 6: The Nets have officially re-signed Claxton, the team announced today in a press release.

“We are thrilled to have Nic remain in Brooklyn as a core player for our team going forward,” general manager Sean Marks said in a statement. “Nic has made strides in his game in each of his first five seasons, developing into one of the top defenders in the league. With his outstanding work ethic and dedication, we know that Nic will continue to be relentless in his efforts to maximize his talents and expand his game. Off the court, Nic and his family have embraced being a part of the Brooklyn community and we look forward to the impact he will continue to have on our borough.”

According to Michael Scotto of HoopsHype (Twitter link), Claxton’s contract will start at $27.6MM and descend from there. It’ll feature $97MM in guaranteed money, with another $3MM in potential bonuses.

JUNE 26: Free agent center Nic Claxton intends to sign a four-year, $100MM contract to remain with the Nets, sources tell Adrian Wojnarowski of ESPN (Twitter link). According to Shams Charania of The Athletic (Twitter link), the deal will include $96MM in guaranteed money. The signing can be made official after the moratorium period ends on July 6.

Claxton, the 31st overall pick in the 2019 draft, spent his first three seasons in Brooklyn in a modest reserve role before signing a two-year contract worth $17.25MM (plus incentives) in 2022. He has since been the Nets’ full-time starting center, averaging 12.3 points, 9.6 rebounds, 2.3 blocks, and 2.0 assists per game with a .667 FG% in 147 games over the past two seasons (29.8 MPG), earning himself a significantly larger payday.

While a $25MM annual salary for Claxton may raise eyebrows, the 25-year-old has established himself as a real defensive asset — he earned Defensive Player of the Year votes in 2023 and was referred to as a future Defensive Player of the Year by his new head coach, Jordi Fernandez. He’s also arguably the top free agent center on the market this summer, ahead of bigs like Isaiah Hartenstein and Jonas Valanciunas.

Jarrett Allen, who signed a five-year, $100MM deal with the Cavaliers in 2021, was presumably a point of reference for Claxton. At the time Allen received that contract, his NBA résumé was similar to Claxton’s and his $20MM annual average salary represented just under 18% of the 2021/22 cap. A $25MM annual salary for Claxton will come in at nearly the exact same percentage of the ’24/25 cap.

The Pelicans and other teams around the NBA were said to have interest in Claxton as a potential sign-and-trade target or cap-room signing, but a return to Brooklyn has always been the most likely outcome, even after the team seemingly pivoted to a rebuild by agreeing to trade Mikal Bridges. A report earlier today indicated that the Nets were still focused on retaining their starting center.

Claxton had been the No. 8 player on our list of 2024’s top 50 free agents. He’s the fourth player in the top 10 of that list to reach a contract agreement during the new exclusive negotiating window allowing teams to talk to their own free agents between the end of the NBA Finals and June 30.

Warriors Acquire No. 52 Pick Quinten Post From Blazers

July 6th, 2024 at 12:09pm CST by Alex Kirschenbaum

JULY 6: The trade sending Post’s rights from Portland to Golden State in exchange for cash is now official, according to announcements from both the Trail Blazers and Warriors.

JUNE 27: The Warriors have agreed to reacquire the No. 52 pick from the Trail Blazers in exchange for cash considerations, per Jake Fischer of Yahoo Sports and Sean Highkin of The Rose Garden Report (Twitter links).

The Warriors used the pick to select center Quinten Post out of Boston College.

As Highkin notes, Portland shipped out its No. 34 selection the Knicks for three future second-rounders, received cash from the Thunder to move down from No. 40 to 52, and have now moved off the No. 52 pick as well.

After starting the draft Wednesday with four draft selections, a rebuilding Portland club finishes with just one pick, No. 7, which it used on center Donovan Clingan. The Trail Blazers have $46.4MM in salaries committed to veteran centers Deandre Ayton and Robert Williams III.

Sending out cash to obtain the No. 52 selection will hard-cap Golden State at the NBA’s second apron for the 2024/25 season. The No. 52 pick was dealt by the Warriors to the Thunder in a trade for Lindy Waters earlier today, was sent from Oklahoma City to Portland, and has now has landed back in Golden State.

Spurs Trade Furphy To Pacers For Nunez, Cash

July 6th, 2024 at 12:00pm CST by Luke Adams

JULY 6: The trade sending No. 35 pick Furphy to Indiana in exchange for No. 36 pick Nunez and cash is officially complete, the Pacers announced in a press release. The deal couldn’t be completed until the start of the 2024/25 league year because San Antonio had reached its cash received limit for ’23/24.

JUNE 27: The Pacers and Spurs have agreed to swap places in the second round of the draft, with Indiana moving up one spot to No. 35 and San Antonio moving down to No. 36, per Shams Charania of The Athletic (Twitter links).

The Pacers used the No. 35 pick to select Kansas wing Johnny Furphy, while the Spurs picked Spanish point guard Juan Nunez at No. 36.

The Spurs are receiving cash from the Pacers in exchange for moving down one spot, reports Jake Fischer of Yahoo Sports (Twitter link). That means Indiana will be hard-capped at the second tax apron for the 2024/25 league year, since second-apron teams aren’t permitted to send out cash in trades. That shouldn’t have a major impact on the Pacers’ plans, since they were very unlikely to spend that much on next season’s roster anyway.

Furphy, a 6’9″ Australian who was widely viewed as a potential first-round pick, averaged 9.0 points and 4.9 rebounds in 24.1 minutes per game in his first and only college season with the Jayhawks, posting a shooting line of .466/.352/.765. He’s the first player selected in this draft by the Pacers, who sent their first-round pick to Toronto in the Pascal Siakam trade.

As for Nunez, it’s unclear whether or not he’ll join the Spurs for the 2024/25 season, since he has widely been viewed as a draft-and-stash candidate.

Pistons Sign Ron Holland To Rookie Contract

July 6th, 2024 at 11:49am CST by Luke Adams

The Pistons have signed No. 5 overall pick Ron Holland to his rookie scale contract, according to the NBA’s official transaction log.

[RELATED: 2024 NBA Draft Pick Signings]

Holland had an up-and-down season for the G League Ignite in 2023/24, filling up the stat sheets with 19.5 points, 6.7 rebounds, 3.1 assists, and 2.4 steals per game in 29 outings, but struggling with both his outside shot (.237 3PT%) and turnovers (3.2 per game) for the last-place team.

Viewed last fall as a potential contender for the No. 1 overall pick, Holland saw his stock dip a little and was considered a candidate to fall out of the top 10 on draft night. However, the Pistons – who were linked more frequently to his Ignite teammate Matas Buzelis in the weeks leading up to the draft – made Holland their first pick in the Trajan Langdon era.

If, as expected, he received the maximum rookie contract for the No. 5 pick, Holland will make approximately $8.25MM as a rookie and about $37.46MM across four years, assuming his third- and fourth-year team options are eventually exercised.

The Pistons also officially signed undrafted rookie Daniss Jenkins to a two-way contract, per the NBA’s transaction log. Jenkins’ agreement with Detroit was reported last Wednesday, shortly after the second round of the draft concluded.

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