Transactions Rumors | Hoops Rumors

Danilo Gallinari Signs Two-Year Deal With Celtics

July 12th, 2022 at 11:14am CST by Arthur Hill

JULY 12: The Celtics have officially signed Gallinari, the team announced in a press release.“We are thrilled to welcome Danilo to Boston,” president of basketball operations Brad Stevens said. “With his elite shooting abilities, he has long been established as of the league’s best scorers with size.”

JULY 10: After being waived by San Antonio on Friday, Gallinari has cleared waivers and agreed to a two-year, $13.3MM deal with the Celtics, ESPN’s Adrian Wojnarowski confirms (via Twitter). The contract is fully guaranteed, agent Michael Tellem tells Wojnarowski.

JULY 1: Danilo Gallinari plans to sign with the Celtics after the Spurs officially release him, tweets Adam Himmelsbach of The Boston Globe. ESPN’s Adrian Wojnarowski first reported (via Twitter) that signing with Boston was Gallinari’s preference, after Jake Fischer of Bleacher Report suggested on Thursday that he was leaning that way.

Gallinari is expected to receive a two-year contract worth $13MM with a player option on the second season, sources tell Italian basketball writer Davide Chinellato (Twitter link). Boston will presumably use its taxpayer mid-level exception to complete the signing.

The 33-year-old forward, who spent the past two seasons with Atlanta, was sent to San Antonio this week in the Dejounte Murray trade. He agreed to push back the guarantee date on his $21.45MM contract for next season to help accommodate the deal and will likely receive a partial guarantee of about $10-11MM from the Spurs before being let go.

Gallinari will provide Boston with a veteran shooter who can play several positions. He has connected at 38.1% from three-point range during his career and averaged 11.7 points and 4.7 rebounds with the Hawks last season.

Injuries plagued Gallinari early in his career, but he has been relatively healthy over the past four seasons, playing 68, 62, 51 and 66 games.

The Bulls were also reportedly in the running for Gallinari.

Frank Kaminsky Signs One-Year Deal With Hawks

July 12th, 2022 at 10:05am CST by Luke Adams

JULY 12: The signing is official, the Hawks announced in a press release.

JULY 8: Free agent big man Frank Kaminsky has agreed to terms on a one-year deal with the Hawks, agents Mark Bartelstein and Andy Shiffman tell Adrian Wojnarowski of ESPN (Twitter link). It’ll be worth the veteran’s minimum, according to Chris Kirschner of The Athletic (Twitter link).

Kaminsky began the 2021/22 season with the Suns and had a regular role in the team’s frontcourt rotation, averaging 10.6 PPG, 4.6 RPG, and 1.4 APG on .545/.333/.900 shooting through his first nine games (20.1 MPG).

However, Kaminsky’s season came to an early end due to a stress reaction in his right knee, which required surgery. The Suns waived him in April, making him an unrestricted free agent, and a report last week indicated the 29-year-old was unlikely to return to Phoenix after spending the last three seasons with the team.

Kaminsky is fully recovered from that right knee procedure, tweets Wojnarowski.

Entering the day, the Hawks had only been carrying 12 players on guaranteed contracts for 2022/23 — it appears Kaminsky will become the 13th, filling one of the team’s remaining roster openings. The former lottery pick will join a frontcourt rotation headed by Clint Capela, John Collins, and Onyeka Okongwu.

Timberwolves Sign Bryn Forbes

July 12th, 2022 at 7:25am CST by Luke Adams

JULY 12: The Timberwolves have officially signed Forbes, according to the transactions log at NBA.com.

JULY 1: The Timberwolves have agreed to terms on a deal with free agent shooting guard Bryn Forbes, sources tell Jon Krawczynski of The Athletic (Twitter link). It will be a minimum-salary contract, tweets Chris Hine of The Star Tribune. Darren Wolfson of 5 Eyewitness News adds (via Twitter) that it will cover just one year.

Forbes, who will turn 29 later this month, began the 2021/22 season in San Antonio and was traded to Denver prior to the deadline. In total, he appeared in 75 games for the two teams, averaging 8.8 PPG on .429/.414/.908 shooting in 17.1 MPG.

It was new president of basketball operations Tim Connelly who traded for Forbes this past season when he was still running the Nuggets’ front office.

Forbes is one of the NBA’s most reliable three-point shooters. Since his rookie year in 2016/17, he has knocked down at least 38.8% of his attempts from beyond the arc in five consecutive seasons, and he owns a career rate of 41.3%. However, he’s undersized for a shooting guard and can be targeted by opposing teams on defense.

The Wolves had been dealing with an apparent roster crunch entering the day, but opened up some roster spots when they agreed to send five players to Utah in a blockbuster trade for Rudy Gobert. Forbes projects as a bench piece who will help the club replenish its depth.

Spurs Sign Dominick Barlow To Two-Way Contract

July 11th, 2022 at 2:16pm CST by Alex Kirschenbaum

JULY 11: The Spurs have officially signed Barlow to a two-way contract, according to NBA.com’s transactions log.

JUNE 24: The Spurs are signing a two-way deal with free agent former Overtime Elite forward Dominick Barlow, reports Jake Weingarten of StockRisers (via Twitter).

The 6’9″ forward averaged 14.8 PPG, 5.9 RPG, 1.5 APG, 1.2 BPG and 1.1 SPG while with Overtime Elite. He logged shooting splits of .530/.364/.769.

Vaunted for his mobility, the 19-year-old opted to forgo college, the G League, and international play in favor of the relatively new Overtime Elite, a professional league alternative for NBA prospects aged 16-19.

Barlow will be joining three other new Spurs rookie additions following a jam-packed first round during the 2022 draft. San Antonio selected forward Jeremy Sochan with the ninth pick out of Baylor, Ohio State wing Malaki Branham at No. 20, and Notre Dame guard Blake Wesley at No. 25.

Knicks Trade Nerlens Noel, Alec Burks To Pistons

July 11th, 2022 at 10:04am CST by Dana Gauruder

JULY 11: The Knicks and Pistons have officially completed their trade, the teams announced today in a pair of press releases.

As expected, the Pistons acquired Noel, Burks, cash, and the team’s own 2023 second-round pick. The second pick Detroit received will be either Minnesota’s or New York’s 2026 second-rounder, rather than the heavily protected Miami 2024 second-rounder described below.

The Knicks, meanwhile, received the draft rights to 2015 second-rounder Nikola Radicevic and a protected 2025 second-round pick. That pick will have top-55 protection, tweets Fred Katz of The Athletic.

JUNE 28: The Knicks are trading center Nerlens Noel and guard Alec Burks to the Pistons, ESPN’s Adrian Wojnarowski tweets.

The Knicks will unload more than $19MM in 2022/23 salary in the deal, providing ample cap space to sign free agent guard Jalen Brunson. Noel has a $9.24MM salary next season, while Burks is due approximately $10MM.

Both players are signed through the 2023/24 season, but there are team options in the final year of their respective contracts — Noel at $9.68MM and Burks at approximately $10.5MM. Thus, those salaries could come off the Pistons’ cap next summer.

New York will send Detroit back its 2023 second-round pick, plus the Heat’s 2024 second-round pick (top-55 protected) and $6MM in cash as sweeteners to take those contracts off its books, Wojnarowski reports in a separate tweet.

The Pistons can absorb those salaries without sending out any contracts, since they were projected to have more cap space than any other team. The Knicks, meanwhile, should have now the cap room necessary to sign Jalen Brunson in free agency.

The Knicks and Pistons were also involved in a three-way draft-night agreement that included the Hornets. In that trade, Detroit took Kemba Walker‘s contract off New York’s books and acquired the draft rights to Jalen Duren.

The Pistons plan on keeping Burks and Noel, according to Wojnarowski (Twitter link). Burks, a 38% career 3-point shooter, will give the Pistons a perimeter threat on the wing who can help mentor the young backcourt of Cade Cunningham and rookie Jaden Ivey. Noel provides depth in the middle behind Isaiah Stewart and Duren.

Despite the addition of Noel, the Pistons are still committed to bringing back restricted free agent Marvin Bagley III, Omari Sankofa of the Detroit Free Press tweets.

Magic Sign Second-Rounder Caleb Houstan

July 10th, 2022 at 9:42pm CST by Rory Maher

The Magic have signed wing Caleb Houstan, the 32nd pick of last month’s draft, the team announced (via Twitter).

Houstan, 19, was a five-star recruit out of high school and a projected lottery pick entering college. However, he struggled a bit in his lone season with Michigan, averaging 10.1 PPG, 4 RPG and 1.4 APG on .384/.355/.783 shooting in 34 games (32 MPG), causing his draft stock to slide.

In an unusual move, Houstan was one of the only players to decline an invitation to this year’s draft combine, leading to speculation that he might have received a first-round promise. He wound up being the second pick of the second round instead.

The terms of Houstan’s deal were not disclosed, but if the Magic wanted to sign him to a three- or four-year deal, they would have to use part of their mid-level exception to do so, like the Grizzlies did with Kennedy Chandler and the Thunder did with Jaylin Williams.

Sixers Sign Michael Foster Jr.

July 10th, 2022 at 8:13pm CST by Rory Maher

The Sixers have signed undrafted rookie Michael Foster Jr., the team announced today in a press release.

Shams Charania of The Athletic indicated last month that Foster was heading to Philadelphia, so the news was expected. He’s currently a member of the Sixers’ Summer League squad.

Foster, a forward who played for the G League Ignite in 2021/22, is the No. 3 prospect on ESPN’s list of undrafted rookies. The former five-star recruit recorded 14.8 PPG, 8.8 RPG, 2.0 APG, and 1.9 BPG in 13 games (29.8 MPG) for the Ignite.

The terms of Foster’s agreement are unclear, but if it’s an Exhibit 10 deal, it’ll be a non-guaranteed, minimum-salary contract that could be converted into a two-way deal before the regular season begins. A player on an Exhibit 10 contract is also eligible for a bonus worth up to $50K if he’s waived and then becomes an affiliate player for his team’s G League squad.

Trevor Keels Signs Two-Way Contract With Knicks

July 10th, 2022 at 6:36pm CST by Rory Maher

Trevor Keels, the 42nd pick of last month’s draft, has signed a two-way contract with the Knicks, the team announced (via Twitter).

The news was anticipated, as Ian Begley of SNY.tv reported last month that Keels was likely to receive a two-way contract once Jericho Sims was promoted to a standard deal, which occurred yesterday. New York’s two-way slots are now full, with Feron Hunt occupying the other.

Keels was one of the youngest players in the draft at just 18 years old and won’t turn 19 until late next month. He spent a single college season at Duke, averaging 11.5 points, 3.4 rebounds, 2.7 assists and 1.2 steals in 36 games (30.2 minutes per contest).

At 6’4″ and 221 pounds, Keels is a combo guard, with some scouts questioning his conditioning, which may have impacted his draft status. He was considered a fringe first-round pick but ultimately fell to the middle of the second round.

Another knock against Keels was his efficiency, as he posted a .419/.312/.670 shooting line with the Blue Devils. That has carried over to Summer League action thus far, with Keels shooting just 3-18 through a couple of games.

However, Keels is young, physically strong, and considered a versatile player on both ends of the court, with a knack for making good decisions. He was also a highly-touted prospect entering college and was the third-leading scorer on a stacked Duke team that reached the Final Four of the NCAA tournament.

If Keels remains on a two-way deal for all of 2022/23, he’ll earn about $509K, be limited to 50 games in the regular season and ineligible for the postseason. He will need to be promoted to a standard contract at some in order to be playoff-eligible.

Nets Re-Sign Nic Claxton, Patty Mills

July 10th, 2022 at 3:54pm CST by Rory Maher

JULY 10: The Nets have announced in a press release that they have officially re-signed Mills.

JULY 7: The Nets have officially re-signed Claxton, the team announced in a press release.

JUNE 30: The Nets are re-signing a pair of key rotation players from their 2021/22 squad, according to Adrian Wojnarowski of ESPN (Twitter links), who reports that center Nic Claxton is receiving a two-year, $20MM contract, while guard Patty Mills gets a two-year, $14.5MM deal.

Brooklyn had Claxton’s Bird Rights and won’t need to use another cap exception to sign him. Mills’ deal appears to be the maximum amount he can receive on a Non-Bird deal, as Yossi Gozlan of HoopsHype tweets.

Claxton, 23, was 31st pick of the 2019 draft after two collegiate seasons at Georgia. Injuries have played him throughout his three NBA seasons, but he’s shown to be a switchable, versatile defender when healthy. Brooklyn issued him a qualifying offer a couple of days ago, making him a restricted free agent.

In 47 games last season, including 19 starts (20.7 MPG), Claxton averaged 8.7 PPG, 5.6 RPG and 1.1 BPG while shooting 67.4% from the floor and 58.1% from the free-throw line. ESPN’s Brian Windhorst and Bleacher Report’s Jake Fischer previously reported that Claxton was likely to return to Brooklyn.

Mills, 33, had a solid first season with Brooklyn in ’21/22, averaging 11.4 PPG, 1.9 RPG and 2.3 APG on .408/.400/.814 shooting in 81 regular season games (48 starts, 29 MPG). He averaged career-highs in three-point makes and attempts, with 2.8 and 7.0, respectively.

Mills has played 13 seasons in the league, spending his first couple of seasons with Portland before a 10-year run with the Spurs that included an NBA Championship in 2014. The veteran guard also led the Australian national team to a Bronze Medal at the Tokyo Olympics last summer.

Wojnarowski and Brian Lewis of The New York Post said last night that Mills hadn’t ruled out a return to the Nets after declining his player option to become a free agent. Mills isn’t quite as quick as he once was and is limited defensively despite giving solid effort, but he holds a career three-point percentage of 38.9%, which is always valuable.

Kevon Looney Signs Three-Year Contract With Warriors

July 10th, 2022 at 3:20pm CST by Luke Adams

JULY 10: Looney’s return to Golden State is official, the Warriors have announced in a press statement.

JULY 1: The Warriors are bringing back a key member of their championship roster, according to Adrian Wojnarowski of ESPN (Twitter link), who reports that that the team has agreed to a three-year, $25.5MM deal with center Kevon Looney.

Looney enjoyed an impressive bounce-back year in 2021/22 after his previous two seasons were marred by injuries and a reduced role. He started 80 of Golden State’s 82 regular season games and averaged 6.0 PPG, 7.3 RPG, and 2.0 APG in 21.1 minutes per contest while playing solid defense. His role remained steady in the postseason — he started just 13 of 22 games, but logged 20.4 MPG during the Warriors’ title run.

The 26-year-old put a stamp on a sterling contract year with his play in the NBA Finals — in six games, the Warriors outscored the Celtics by 48 points when he was on the court and were outscored by 24 points when he sat.

According to Marc Stein (Twitter link), some rival teams believed Looney might return to Golden State on a three- or four-year deal worth $10MM per year, so bringing him back at $8.5MM annually looks like a good deal for the defending champions. Additionally, the third year is only partially guaranteed for $3MM, tweets Anthony Slater of The Athletic.

The Warriors still have some work to do on their roster after striking a deal with Looney. The team has lost a pair of key rotation players so far in free agency, with Otto Porter headed to Toronto and Gary Payton II on his way to Portland.

Golden State’s projected tax bill figures to be a consideration as the team weighs its options with the taxpayer mid-level exception. According to Yossi Gozlan of HoopsHype (Twitter link), the Warriors have a projected tax bill of at least $120MM so far, and that number would rise significantly if the team uses its MLE.