Transactions Rumors | Hoops Rumors

Heat Re-Sign Victor Oladipo To Two-Year Deal

July 7th, 2022 at 10:16am CST by Luke Adams

JULY 7: The Heat have officially re-signed Oladipo, the team announced today in a press release. As we relayed earlier today, his new two-year deal is believed to be worth in the neighborhood of $18MM.

“Victor showed his work ethic and determination to come back and help us win games at the end of the regular season and through the playoffs,” Heat president Pat Riley said in a statement. “We are delighted to have him back in a HEAT uniform.”

JULY 6: Victor Oladipo remains on track to officially re-sign with the Heat, but he and the team have agreed to adjust the terms of the contract they negotiated last week, according to reports from Ira Winderman of The South Florida Sun Sentinel and Anthony Chiang of The Miami Herald (Twitter links).

Instead of signing a one-year, $11MM contract, Oladipo will receive a two-year deal that includes a second-year player option, per Winderman and Chiang.

While the exact financial terms are unclear, Oladipo’s salary in 2022/23 will be a little lower than $11MM in order to help the Heat remain below the luxury tax line (approximately $150MM) and the tax apron ($157MM).

Miami doesn’t yet have to worry about dealing with a hard cap, since the team hasn’t acquired a player via sign-and-trade, used its bi-annual exception, or used more than the taxpayer portion of its mid-level exception. But if the Heat want to do any of those three things, it would impose a hard cap of about $157MM on team salary, limiting their flexibility. A smaller first-year salary for Oladipo will give Miami more breathing room in that scenario, and may also help team ownership avoid a tax bill.

Oladipo will still have the right to veto a trade during the 2022/23 season. A player who re-signs with his former team on a one-year contract or a two-year deal with a second-year player option is afforded that privilege.

Suns’ Devin Booker Signs Four-Year Super-Max Extension

July 6th, 2022 at 9:56pm CST by Rory Maher

JULY 6: Booker has officially signed his contract extension with the Suns, according to NBA.com’s transactions log. Booker confirmed as much, tweeting, “Signed sealed delivered.”

JUNE 30: Devin Booker is set to sign a four-year, super-max extension with the Suns as early as next week, sources tell Shams Charania of The Athletic and Stadium (Twitter link).

The 13th pick of the 2015 draft, Booker has spend his entire seven-year career with Phoenix. He’s been an All-Star each of the past three seasons, but more importantly, at least from a financial perspective, Booker was named to the All-NBA First Team last season, which made him eligible for the super-max, also known as the Designated Veteran Extension.

The 25-year-old is still under contract for a total of $69.83MM through 2023/24, so his extension won’t kick in until ’24/25. The deal will tentatively be worth $214MM from 2024-28, per Charania.

Booker led the Suns to a 64-18 regular season record last season, the best mark in the NBA by a full eight games. However, the team fell to the Mavericks in the second-round of the playoffs, losing in embarrassing fashion at home in Game 7.

Despite the disappointing ending, in many other ways it was a resounding success for both Booker and the Suns, who set a franchise record for wins. Booker averaged 26.8 PPG, 5.0 RPG, 4.8 APG and 1.1 SPG on .466/.383/.868 shooting in 68 regular season games (34.5 MPG) while showing improved defense.

Booker has also been an impressive postseason performer over the past couple seasons, helping lead the team to the Finals in ’20/21. He’s averaged a combined 26.1 PPG, 5.4 RPG and 4.5 APG on .448/.356/.900 shooting in 32 career playoff games (39.2 MPG).

Heat Re-Sign Caleb Martin To Three-Year Deal

July 6th, 2022 at 9:25pm CST by Rory Maher

9:25pm: The Heat have officially re-signed Martin, the team announced in a press release.

“Caleb is a multi-position player with tremendous energy that had a career year with us,” Heat president Pat Riley said in a statement. “He works hard and deserves this as much as any young player in the league. We are extremely happy he has decided to come back.”

11:26am: One of the NBA’s top remaining restricted free agents is coming off the board, according to Anthony Chiang, who reports (via Twitter) that the Heat and forward Caleb Martin are in agreement on a three-year contract worth “about” $20.5MM.

The Heat only held Martin’s Non-Bird rights entering this offseason, limiting their ability to offer him much of a raise after he finished the 2021/22 season on a minimum-salary contract. The terms reported by Chiang indicate that Miami will use the taxpayer portion of its mid-level exception to re-sign Martin and ensure that he gets a substantial pay bump.

As our breakdown of this season’s MLE values shows, a three-year deal worth the full taxpayer mid-level exception would top out at about $20.4MM. Martin’s deal will be fully guaranteed, sources tell Chiang (Twitter link).

Martin emerged as an important piece off the bench in Miami this past season, averaging 9.2 PPG and 3.8 RPG on .507/.413/.763 shooting in 60 games (22.9 MPG), which earned him a promotion from his two-way contract. He opted to just have his two-way deal converted into a rest-of-season contract rather than negotiating a multiyear deal, perhaps recognizing that he’d have a better chance of securing a raise in the offseason than he would have in February.

It turned out to be shrewd move by Martin and his representatives, as the $20.4MM in guaranteed money dwarfs his career earnings to this point. With P.J. Tucker‘s departure to Philadelphia, the 26-year-old Martin could be in line for a bigger role with the Heat in 2022/23.

As John Hollinger of The Athletic observes (via Twitter), signing Martin at the taxpayer mid-level exception likely means Miami will fill out the remainder of its roster with minimum-salary players in order to stay below the tax apron and maintain financial flexibility.

Trail Blazers Sign Anfernee Simons To Four-Year Contract

July 6th, 2022 at 9:15pm CST by Rory Maher

JULY 6: Simons’ new deal is now official, the Trail Blazers confirmed in a press release.

“Anfernee is already one of the league’s top shooters and this past season he showed elite ability as a shot creator and distributor,” GM Joe Cronin said as part of a larger statement. “We are excited for him to continue the growth he has shown in his first four seasons in Portland.”

The team announced its new deal with center Jusuf Nurkic within the same release.

JUNE 30: The Trail Blazers and restricted free agent guard Anfernee Simons have agreed to a four-year contract worth $100MM, agent Bill Duffy tells Adrian Wojnarowski of ESPN (Twitter link).

Reports leading up to free agency suggested Simons would likely be in line for a deal worth $80MM over four years, so it appears he did better than anticipated. It’s also possible that $100MM is the max Simons could earn on the new contract after incentives and the base value is lower.

Simons, who turned 23 earlier this month, had a breakout fourth season with Portland, posting career-highs in points (17.3), rebounds (2.6) and assists (3.9) in 57 games (30 starts, 29.5 minutes per night). He also had a very respectable .443/.405/.888 shooting line, good for a 58.3 true shooting percentage.

While Simons certainly earned a significant raise on the $3.9MM he made last season, there are some questions about how he might fit next to another ball dominant player like fellow guard Damian Lillard. Simons’ emergence came on the heels of injuries to Lillard and CJ McCollum, who was later traded to New Orleans.

For example, Simons averaged 12.1 points, 2.4 rebounds and 2.0 assists on .426/.385/.935 shooting (55.1% true) in 27 games (24.1 minutes) as a reserve in 2021/22, versus 22 points, 2.8 rebounds and 5.5 assists on .452/.415/.871 shooting (60% true) in 30 games (34.3 minutes) as a starter. He functioned as the primary ball-handler while starting and thrived in the role.

Simons is an excellent athlete, but he’s not very strong and has been a poor defender to this point in his career. Still, he’s young and could improve with time.

Patrick Baldwin Jr. Signs With Warriors

July 6th, 2022 at 8:19pm CST by Arthur Hill

The Warriors have signed first-round pick Patrick Baldwin Jr., the team announced on Twitter.

Assuming Baldwin receives 120% of the rookie scale, which is standard, his salary will be $2.2MM for his first season and $11.4MM over the four-year contract.

Baldwin was a highly touted high school player whose draft stock tumbled after a disappointing season at Wisconsin-Milwaukee, where he played for his father. An ankle injury limited him to 11 games and he averaged 12.1 points and 5.8 rebounds per night while shooting 34.4% from the field and 26.6% from three-point range.

Golden State felt Baldwin was worth the gamble with the 28th overall pick, and the Warriors can afford to give the 19-year-old forward time to develop.

Knicks, Pistons Complete Jalen Duren, Kemba Walker Trade

July 6th, 2022 at 7:56pm CST by Luke Adams

The Knicks and Pistons have officially completed their part of the draft-night trade involving Kemba Walker and No. 13 overall pick Jalen Duren, according to a press release from the Knicks.

Although the deal was initially reported as a three-team trade involving New York, Detroit, and Charlotte, the Hornets and Knicks finalized their half of the swap on draft night — the Hornets acquired a protected 2023 first-round pick and four future second-rounders in exchange for the rights to Duren.

The trade finalized today sends Walker and the rights to Duren to the Pistons in exchange for the Bucks’ 2025 first-round pick (top-four protected), which Detroit officially acquired earlier today from Portland in its Jerami Grant deal.

The move is the first step toward ensuring that the Knicks have the cap room necessary to completed their signings of Jalen Brunson and Isaiah Hartenstein. Detroit and New York also agreed to a separate trade that will send Alec Burks and Nerlens Noel to the Pistons, creating additional space for the Knicks.

While Walker is on the Pistons’ roster for the time being, he’s expected to hit the waiver wire sometime soon. A report last Thursday indicated that the two sides were finalizing a buyout agreement.

Luguentz Dort Re-Signs With Thunder On Five-Year Deal

July 6th, 2022 at 7:15pm CST by Rory Maher

JULY 6: Dort’s new deal with the Thunder is now official, the team announced in a press release.

JUNE 30: The Thunder are re-signing restricted free agent Luguentz Dort to a five-year, $87.5MM contract, Dort’s agent Thad Foucher tells ESPN’s Adrian Wojnarowski (Twitter link).

The barrel-chested Dort, who turned 23 in April, has showed continuous improvement after going undrafted out of Arizona State in 2019. He averaged 6.8 PPG and 2.3 RPG on .394/.297/.792 shooting in 36 games (22.8 MPG) as a rookie, with those averages increasing to 14 PPG and 3.6 RPG on .387/.343/.744 shooting in 2020/21 (52 games, 29.7 MPG).

Dort averaged 17.2 PPG and 4.2 RPG on .404/.332/.843 shooting in 51 games (32.6 MPG) last season. His shooting numbers seem fairly mediocre, but the majority of Dort’s shots come from three or at the rim, and he gets to the line a good amount, so his 54.1% true shooting percentage is actually decent.

Dort’s hallmark comes on the defensive end of the court, where his strength, toughness and versatility really shine. He’s an excellent athlete with a strong frame (6’3″, 215 pounds) and is capable of switching across multiple positions.

A report last week indicated that Oklahoma City would pick up Dort’s team option for ’22/23, which would have made him an unrestricted free agent in 2023, but clearly they had a change of heart after examining the amount of salary cap space rival teams will have next summer. Instead the Thunder chose to decline the option, making him a restricted free agent.

The modern NBA is dominated by wings capable of playing both sides of the ball, so his contract aligns with the value teams place on players of his mold. Considering his trajectory and the fact that he’s only entering his fourth season, there’s a good chance that it will be a very reasonable deal for both sides for years to come.

Suns Trade For Jock Landale

July 6th, 2022 at 6:20pm CST by Arthur Hill

JULY 6: The Hawks have officially traded Landale to the Suns in exchange for cash considerations, Atlanta confirmed in a press release. As we noted earlier this week, Landale’s minimum-salary contract has a small partial guarantee ($46,120).

JULY 2: The Suns will acquire Australian center Jock Landale from the Hawks, tweets Shams Charania of the Athletic. Atlanta will receive cash in return, according to Lauren L. Williams of The Atlanta Journal-Constitution (Twitter link).

Landale, 26, was a rookie with the Spurs last season, averaging 4.9 points and 2.7 rebounds in 54 games. He was shipped to the Hawks this week as part of the Dejounte Murray trade.

Landale signed with San Antonio in 2021 after going undrafted out of St. Mary’s. He also plays internationally for Australia and won a bronze medal at the 2020 Olympics.

The addition of Landale will help fill a vacancy for Phoenix, which lost back-up center JaVale McGee to the Mavericks in free agency and is exploring trade offers regarding starting center Deandre Ayton.

Trail Blazers Waive Eric Bledsoe

July 6th, 2022 at 5:20pm CST by Luke Adams

5:20pm: The Trail Blazers have officially placed Bledsoe on waivers, per a press release. He’s on track to become an unrestricted free agent on Friday.

9:41am: The Trail Blazers intend to waive Eric Bledsoe in the coming days, according to Shams Charania of The Athletic (Twitter link), who says several teams are expected to register interest in Bledsoe as a free agent.

Bledsoe had been under contract for $19.38MM in 2022/23, but only $3.9MM of that money is fully guaranteed. If the point guard were to remain under contract through July 10, his full salary would become guaranteed, so Portland will officially waive him before that happens.

Bledsoe, 32, began the 2021/22 season with the Clippers, appearing in 54 games (29 starts) for L.A. and averaging 9.9 PPG, 4.2 APG, and 3.4 RPG in 25.5 minutes per contest. However, he was sent to Portland in the Norman Powell/Robert Covington trade prior to the trade deadline.

Bledsoe never actually appeared in a single game for the Blazers. The team announced in March that he was being shut down for the season after receiving a platelet-rich plasma (PRP) injection to address the tendinopathy in his left Achilles tendon.

The Blazers were in tank mode after the trade deadline and were shutting down just about veteran on their roster who had a minor ailment, so there’s no reason to think that Bledsoe’s Achilles issue is significant enough to hinder his ability to catch on with a new team once he reaches free agency.

Portland will have the option of applying Bledsoe’s $3.9MM in dead money solely to the 2022/23 cap or stretching it into increments of $1.3MM across three seasons. Stretching that cap hit could be something the Blazers consider, given their proximity to the luxury tax line.

Yossi Gozlan of HoopsHype (Twitter link) estimates that Portland’s team salary is approximately $3.7MM above the tax threshold, but we’ll need to wait for the official details to come in on contracts for Anfernee Simons, Jusuf Nurkic, and Gary Payton II to know for sure.

Nuggets Acquire Ismael Kamagate From Blazers

July 6th, 2022 at 5:14pm CST by Rory Maher

JULY 6: The trade between Denver and Portland is now official, the Blazers announced in a press release.

The Nuggets received the draft rights to Kamagate, while the Blazers will receive either the Timberwolves’ or Hornets’ second-round pick (whichever is more favorable).

JUNE 23: The Nuggets are acquiring French center Ismael Kamagate, the 46th pick of the 2022 NBA draft, from the Trail Blazers in exchange for a 2024 second-round pick, sources tell Mike Singer of The Denver Post (All Twitter links). Portland acquired the 46th pick from Detroit as part of the impending Jerami Grant trade.

In 34 appearances (27.1 MPG) for Paris Basketball of France’s LNB Pro A league (first division) this season, Kamagate averaged 11.3 PPG, 6.3 RPG and 1.6 BPG while shooting 64.3% from the floor and 65.4% from the free throw line.

According to Mike Schmitz, who used to work for ESPN but was recently hired as an assistant GM by the Blazers, the 6’11” big man has an impressive physical profile but is considered more of a long-term project than a player who’s ready for immediate action in the NBA. Kamagate is a strong inside finisher and a skilled offensive talent, per Schmitz, but he’s not a great rebounder and is a pretty poor defender at this point.

Based on Schmitz’ scouting report, Kamagate might be a draft-and-stash candidate for a Denver team that hopes to contend for a title next season.