Transactions Rumors | Hoops Rumors

Grizzlies Sign Steven Adams To Two-Year Extension

October 1st, 2022 at 4:13pm CST by Rory Maher

4:13pm: The Grizzlies have officially confirmed Adams’ extension (via Twitter).

4:07pm: Starting center Steven Adams is signing a two-year, $25.2MM extension with the Grizzlies, his agent Darren Matsubara tells ESPN’s Adrian Wojnarowski (Twitter link).

Adams will earn $17.9MM in 2022/23, so he’ll actually receive a $5.3MM decrease in annual pay on his new deal with Memphis, which will kick in starting in ’23/24. Wojnarowski calls Adams “an immense culture piece” for a young Grizzlies squad who won 56 games last season.

Despite playing just 26.3 minutes per night in ’21/22, a relatively low average for a starter, Adams led the league in total offensive rebounds (349) and offensive rebounding percentage (17.9%), pulling down an average of 4.6 offensive boards per contest in his first season with Memphis. He’s also one of the league’s strongest players and a bone-crushing screener.

While injuries have sapped some of Adams’ athleticism in recent years, he has evolved his game to adapt. He averaged career-highs of 10.0 rebounds and 3.4 assists per game last season, the latter an increase of 1.1 over his previous best.

The Grizzlies take advantage of Adams’ passing by running a lot of plays through him in the high post and elbows, using his strength and screening to free the backcourt of Ja Morant and Desmond Bane for open looks. The 29-year-old native of New Zealand is still a solid defender, though not quite as versatile on the perimeter as he once was.

Adams was acquired by Memphis last August as part of the complicated three-team deal that sent Jonas Valanciunas to New Orleans, with multiple draft picks changing hands as well.

In 664 career games with the Thunder, Pelicans and Grizzlies, including 599 starts, Adams holds averages of 9.3 points, 8.0 rebounds, 1.5 assists in 26.8 minutes per night. His career field goal percentage (.587) is the eighth-highest mark in league history, the team notes. Adams also has seven seasons of playoff experience, which is undoubtedly valued by a Memphis team hoping to win its first title.

Nets Waive Kaiser Gates, Sign Brandon Rachal

October 1st, 2022 at 1:34pm CST by JD Shaw

The Nets have waived forward Kaiser Gates and signed forward Brandon Rachal, the team announced today.

Brooklyn still has 20 players under contract, including two-way players Alondes Williams and David Duke, plus Exhibit 10 talents Chris Chiozza and RaiQuan Gray.

Gates, 25, was also signed to an Exhibit 10 contract. It’s reasonable to expect he’ll play for the Nets’ G League affiliate in Long Island. He appeared in 12 games with Long Island last season, averaging 9.1 points per contest on 41% shooting from the floor.

Rachal, 6’6″, turned 23 years old on Friday. He also played for Long Island last season, holding per-game averages of 13.6 points and 5.8 rebounds in 28 outings. He shot 54% from the floor and 23% from behind-the-arc (31 three-pointers attempted).

Excluding two-way players, the Nets must trim their roster to 15 by 5:00 pm ET on October 17. The team is looking to rebound after a tumultuous offseason and compete for a title in 2023.

Thunder, Rockets Complete Eight-Player Trade

September 30th, 2022 at 6:05pm CST by Alex Kirschenbaum

SEPTEMBER 30: Both teams have announced that the trade is now official. However, the terms of the deal are slightly different than was previously reported.

Instead of Atlanta’s protected 2025 second-round pick, the Rockets will receive a 2026 second-rounder from Oklahoma City. That pick will be the second-most favorable of the Thunder’s, Mavericks’, and Sixers’ 2026 second-round picks. Houston is also receiving cash considerations in the deal.

SEPTEMBER 29, 9:15pm: The Rockets intend to waive Jerome, according to Jonathan Feigen of The Houston Chronicle. Feigen adds that Favors and Maledon are considered the most likely among Houston’s new additions to claim spots on the 15-man regular season roster.

SEPTEMBER 29, 8:13pm: The Thunder have agreed to send center/power forward Derrick Favors, shooting guard Ty Jerome, forward Maurice Harkless, point guard Theo Maledon and the Hawks’ 2025 second-round draft pick (top-40 protected) to the Rockets in exchange for athletic swingman David Nwaba, wing Sterling Brown, point guard Trey Burke and power forward Marquese Chriss, reports Adrian Wojnarowski of ESPN.

As Wojnarowski observes, Oklahoma City will create two trade exceptions in the deal. In pure salary terms, the exchange will help the Thunder get $10MM under the league’s punitive luxury tax cap threshold. Wojnarowski notes that Favors in particular is tradable among the returning players arriving in Houston, as a solid backup big man on an expiring $10.2MM salary.

The 6’9″ Favors, 31, spent most of the last decade as a key role player with several good playoff-bound Jazz teams. Last year with the Thunder, he appeared in just 39 games, averaging 5.3 PPG on 51.6% shooting, plus 4.7 RPG, across 16.7 MPG.

Jerome and Maledon are both young players on modest contracts with remaining potential upside. Harkless, like Favors, is a veteran on an expiring deal.

On the Rockets’ side of the transaction, Houston is acquiring a future second-round draft pick in exchange for taking on some added salary, as Woj details.

According to Kelly Iko of The Athletic (via Twitter) if that Hawks 2025 second-rounder lands in the top 40 and is protected, Houston will instead receive the second-best of the Thunder’s, Mavericks’, and Sixers’ 2026 second-round picks.

Given that No. 2 draft pick Chet Holmgren has been ruled out for the year with a Lisfranc injury in his right foot, and with the best player in this new trade being sent away from the team, it appears the Thunder are once again prioritizing a year of youthful development, as they look to the 2023 draft lottery to build out their impressive young roster.

Oklahoma City added four rookies in the 2022 draft, including two additional lottery picks beyond Holmgren. The Thunder have been in full-on rebuild mode since the end of the 2019/20 season, winning a total of 46 games over the last two years.

Houston has also been in the asset-collection and draft lottery-targeting phase of its journey since 2020. The team went 37-127 from 2020-22. This year, the Rockets drafted intriguing rookie power forward Jabari Smith with the third pick out of Auburn. They also made two other selections in the first round.

It appears unlikely that every player in this deal will be with their new clubs when the regular season opens. Bobby Marks of ESPN (via Twitter) notes that both teams will still have 18 guaranteed contracts on their books following this deal. Per league rules, they’ll each need to get down to 15 players by October 17.

Celtics Waive Denzel Valentine

September 30th, 2022 at 6:00pm CST by Rory Maher

6:00pm: The move is official, per NBA.com’s transaction log.

4:09pm: The Celtics intend to waive veteran swingman Denzel Valentine, according to Jared Weiss and Shams Charania of The Athletic (Twitter link).

After the news broke that Boston was signing Blake Griffin, the team had to release a player to make room on its 20-man training camp roster. Since Valentine was signed to an Exhibit 10 contract, he’ll be eligible for a bonus worth up to $50K if he spends at least 60 days with the Maine Celtics, Boston’s G League affiliate — assuming, of course, that he doesn’t land with another NBA team in the meantime.

The 14th overall pick in the 2016 draft out of Michigan State, Valentine spent the first five years of his NBA career in Chicago before signing last offseason with the Cavaliers. He played a minor role in 22 games for Cleveland, then was dealt in January to the Knicks, who waived him.

Following a 10-day contract with the Jazz, Valentine played in the G League for the rest of the 2021/22 season. In 12 games with the Maine Celtics last season, he averaged 14.6 PPG, 10.0 RPG, 7.0 APG and 1.1 APG on .440/.352/.786 shooting.

In 256 career NBA games (18.8 MPG), Valentine holds averages of 7.0 PPG, 3.3 RPG and 1.8 APG on .394/.360/.787 shooting.

Rockets Convert Bruno Fernando To Two-Way Contract

September 30th, 2022 at 5:37pm CST by Rory Maher

The Rockets have converted Bruno Fernando‘s Exhibit 10 contract to a two-way deal, our JD Shaw reports (via Twitter).

The 34th overall pick of the 2018 draft after a couple of college seasons at Maryland, Fernando spent his first two pro season with Atlanta before being traded to Boston last year. The Celtics later sent him to Houston as part of a multiplayer deal.

The big man played some of the best basketball of his NBA career down the stretch with the Rockets in 2021/22, albeit in a limited role. Fernando averaged 6.9 PPG, 4.0 RPG, and 0.8 BPG on 70.7% shooting in 10 appearances (9.4 MPG) for Houston. In 119 career games (9.2 MPG), the 24-year-old holds averages of 3.2 PPG and 2.8 RPG.

The Rockets are facing a roster crunch to start the ’22/23 regular season, as they currently have 18 players on standard contracts. That number needs to be reduced to 15 before the season starts.

After the conversion of Fernando’s contract, both of the team’s two-way spots are currently occupied; rookie Trevor Hudgins holds the other.

Kaiser Gates Signs With Nets

September 30th, 2022 at 2:15am CST by Alex Kirschenbaum

Free agent forward Kaiser Gates has signed with the Nets, according to the team (Twitter link via JD Shaw of Hoops Rumors). The 6’7″ Gates last played for Brooklyn’s Summer League club in Las Vegas.

After going undrafted out of Xavier in 2018, Gates latched on with the G League affiliates of the Bulls and Celtics from 2018-20. He subsequently signed a training camp deal with Brooklyn, but was waived before the start of the 2020/21 regular season and reported to the Nets’ NBAGL team, the Long Island Nets.

Across 12 contests for the Long Island Nets, Gates averaged 9.1 PPG, 5.2 RPG, 1.3 SPG, and 1.1 APG. He posted shooting splits of .409/.356/1.000, though that free-throw percentage came on just six total attempts.

The 25-year-old next spent the 2021/22 season with Israeli club Hapoel Jerusalem.

Brooklyn has 12 players inked to guaranteed deals and three on non-guaranteed standard contracts. Both of the team’s two-way slots are occupied. Gates appears likely to join point guards Chris Chiozza and power forward RaiQuan Gray on Exhibit 10 contracts, replacing Marcus Zegarowski on the 20-man roster.

Nets Release Marcus Zegarowski

September 29th, 2022 at 1:02pm CST by Rory Maher

For the second time in less than two weeks, the Nets have waived guard Marcus Zegarowski, per Brian Lewis of The New York Post (Twitter link).

The No. 49 overall pick of the 2021 draft, Zegarowski was a standout performer during three college seasons at Creighton, averaging 14.1 PPG, 3.5 RPG, 4.2 APG and 1.1 SPG on .471/.423/.772 shooting in 92 games (32.2 MPG).

Zegarowski signed a G League deal last offseason and spent his first professional season playing for the Long Island Nets, Brooklyn’s G League affiliate. He averaged 11.6 PPG, 3.0 RPG, and 2.4 APG with an underwhelming .351/.331/.650 shooting line in 21 total NBAGL appearances between the regular season and the Showcase Cup.

The Nets gave up Zegarowski’s NBA draft rights by previously signing and waiving him, but he still might be headed back to Long Island after this second set of transactions, since the organization still has his G League rights.

Wizards Sign Devon Dotson, Waive Davion Mintz

September 29th, 2022 at 11:12am CST by Luke Adams

SEPTEMBER 29: Dotson did indeed sign an Exhibit 10 deal, according to ESPN’s Adrian Wojnarowski, who tweets that Dotson is “expected to compete” for the Wizards’ open two-way slot.

SEPTEMBER 28: The Wizards have signed free agent guard Devon Dotson and waived guard Davion Mintz, according to their official website and the NBA transaction log at RealGM.com.

Terms of Dotson’s deal aren’t yet known, but it seems highly likely to be an Exhibit 10 contract, which could be converted into a two-way pact before the season or would entitle Dotson to a bonus worth up to $50K if he’s waived and then spends at least 60 days with the Capital City Go-Go, the Wizards’ G League affiliate.

Dotson, 23, went undrafted out of Kansas in 2020 and spent his first season-and-a-half in the NBA occupying one of the Bulls’ two-way slots before being waived in January. He saw extremely limited action in 22 total NBA games, logging just 135 overall minutes, but he has played well in the G League.

In 2021/22, Dotson averaged 21.0 PPG, 6.9 APG, 4.8 RPG, and 2.2 SPG in 25 games (33.4 MPG) for the Windy City Bulls, though he made just 24.5% of 4.1 three-point attempts per game. He suited up for the Wizards’ Summer League team in Las Vegas this July.

Mintz, meanwhile, is an undrafted rookie who signed with the Wizards after finishing his college career at Kentucky. Washington now controls his G League rights, so he’s a good bet to resurface with the Go-Go when the NBAGL season begins.

The Wizards still have a full 20-man training camp roster, with 15 players on guaranteed standard contracts, one on a two-way deal, and four on Exhibit 10 contracts.

Thunder Trade Vit Krejci To Hawks For Maurice Harkless, Pick

September 27th, 2022 at 9:02pm CST by Dana Gauruder

9:02pm: The trade is official, according to a Hawks press release. While also confirming the trade in their own press release, the Thunder provided more details regarding the picks involved.

The second-rounder headed to Oklahoma City is Atlanta’s 2029 pick. The Thunder will also receive amendments on the conditions of a previously traded 2025 second-round pick from the Hawks. The amended 2025 second-round pick will now be top-40 protected. Previously that pick was top-55 protected.

4:31pm: The Thunder are trading Vit Krejci to the Hawks in exchange for Maurice Harkless and a second-round pick, Shams Charania of The Athletic tweets.

After signing a multiyear contract ahead of the 2021/22 NBA season, Krejci appeared in 30 games in his first NBA season, averaging 6.2 PPG, 3.4 RPG and 1.9 APG. He posted shooting splits of .407/.327/.864.

An early 2020 second-round pick, Krejci underwent an arthroscopic knee procedure in April. His $1,563,518 salary for the coming season is only 50% guaranteed for now.

The 6’8” Krejci, who turned 22 in June, could work his way into a rotation spot with Atlanta. However, the deal is primarily a cost-cutting move for the Hawks. The team drops from $1.7MM over the luxury tax line to $1.3MM below it by swapping Harkless for Krejci, Yossi Gozlan of HoopsHype tweets.

The Hawks will also create a trade exception worth $4,564,980, the amount of Harkless’ outgoing salary.

Harkless, 29, has been in the league since the 2012/13 season. He spent last season with the Kings, appearing in 47 games (24 starts) while averaging 4.6 PPG and 2.4 RPG. He has also played for Orlando, Portland, the Los Angeles Clippers, New York and Miami. Overall, Harkless has appeared in 621 NBA games and averaged 6.9 PPG and 3.5 RPG in 22.6 MPG.

Harkless, who has an expiring contract, was traded from Sacramento to Atlanta in the Kevin Huerter deal earlier this offseason. It’s uncertain whether the Thunder plan to keep him or waive him.

Oklahoma City applied for a disabled player exception in late August worth $4.95MM in the wake of Chet Holmgren‘s season-ending injury. Harkless’ contract will slot into that exception, which was granted last week, ESPN’s Bobby Marks tweets. That allows the Thunder to complete the deal without matching salaries, since Krejci’s $1.56MM cap charge isn’t big enough to match Harkless’ $4.56MM salary.

Dean Wade Signs Three-Year Extension With Cavaliers

September 27th, 2022 at 9:34am CST by Arthur Hill

SEPTEMBER 27: Wade’s extension is now official, the Cavaliers announced today (via Twitter).

SEPTEMBER 24: The Cavaliers will sign forward Dean Wade to a three-year extension worth $18.5MM, tweets ESPN’s Adrian Wojnarowski.

Wade, who will make $1.93MM this season, had been on track to become a free agent next summer, so the extension will begin in 2023 and will keep him under contract through the end of 2025/26. The agreement was confirmed by Wade’s agents, Austin Walton and Adam Papas, according to Woj.

Wade, a 25-year-old small forward, has been with Cleveland for the past three seasons after earning a two-way contract in 2019. Much of his first year was spent in the G League, but he has been a part of the rotation the last two years and may be in contention for a starting spot heading into training camp.

Wade appeared in 51 games last season, making 28 starts, and averaged 5.3 points and 2.9 rebounds while shooting 45.6% from the field and 35.9% from three-point range. He underwent meniscus surgery in March, but he was cleared to resume basketball activities in early May.

The extension fully guarantees Wade’s contract for the upcoming season and gives Cleveland 14 players with guaranteed deals, tweets Bobby Marks of ESPN.