Transactions Rumors | Hoops Rumors

Malik Monk Signs Two-Year Contract With Kings

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

JULY 6, 1:37pm: Monk’s new deal with the Kings is now official, according to a press release from the team.

“Malik Monk is an elite shooter, fierce competitor and tremendous athlete,” GM Monte McNair said in a statement. “We’re thrilled to have him join us in Sacramento.”

JUNE 30, 5:37pm: Monk will sign a two-year, $19MM contract with the Kings, reports Damian Barling of ESPN 1320 (Twitter link).

JUNE 30, 4:07pm: “There is a lot of smoke” about Malik Monk signing with the Kings once free agency opens at 5:00pm CT, multiple sources tell James Ham of ESPN 1320 and The Kings Beat (Twitter link).

Jason Anderson of The Sacramento Bee hears similarly, reporting (via Twitter) that he’s getting “strong indications” from sources that Monk could be reuniting with former Kentucky teammate De’Aaron Fox. Monk and Fox were both lottery picks in 2017.

Jake Fischer of Bleacher Report was the first to link Monk to the Kings on a Spotify Live appearance with Marc Stein late Wednesday night.

Monk struggled to find a team last summer after the Hornets didn’t tender him a qualifying offer, but became one of the best values in the league on a one-year, minimum-salary contract with the Lakers. Monk had a career-year last season, averaging 13.8 PPG, 3.4 RPG and 2.9 APG on .473/.391/.795 shooting in 76 games (37 starts, 28.1 MPG).

L.A. only holds Non-Bird rights on Monk and will be limited to a contract that starts at the taxpayer mid-level exception, which is projected to be $6.5MM next season.

The Kings could offer Monk the mid-level exception, projected to be worth about $10.5MM next season, for as many as four years. There’s also a possibility that Sacramento could open up some cap space to sign him outright, depending on if the team makes some trades and releases some of their cap holds.

Monk, 24, is reportedly looking for a role where he can receive significant minutes and “be himself,” as he recently told Jovan Buha of The Athletic.

Nets Acquire Royce O’Neale From Jazz

June 30th, 2022 at 5:34pm CST by Dana Gauruder

5:34pm: The trade is official, according to press releases from both teams.

2:05pm: The Jazz are trading starting forward Royce O’Neale to the Nets for a first-round pick, Shams Charania of The Athletic tweets.

Brooklyn is using a $11.3MM trade exception it created in the James Harden trade with Philadelphia to take on O’Neale’s salary, Bobby Marks of ESPN tweets. The Jazz will create a trade exeption worth O’Neale’s outgoing salary.

The pick headed to Utah is a 2023 first-rounder, Adrian Wojnarowski of ESPN tweets. Brooklyn is sending the lesser of its own, Houston’s, or Philadelphia’s first-round pick, Wojnarowski adds in another tweet.

The Sixers sent their first rounder for next season to the Nets in the same Harden deal. Houston has the right to swap its pick with Brooklyn’s next season, courtesy of the four-way swap in 2021 that landed Harden in Brooklyn.

O’Neale has a $9.2MM salary next season and a $9.5MM salary for 2023/24. However, the last year is guaranteed is only guaranteed for $2.5MM.

O’Neale, noted for his defensive prowess, has been a fixture in Utah’s lineup for the last three seasons. He averaged 7.4 PPG, 4.8 RPG and 2.5 APG in 31.2 MPG this past season while appearing in 77 regular season games.

The acquisition of O’Neale will likely diminish the possibility of the Nets re-signing free agent swingman Bruce Brown. On the flip side, Utah’s decision to trade one of its starters signals that other moves are on the way. The first-rounder will give it an asset to dangle for another trade.

Heat Re-Sign Dewayne Dedmon

June 30th, 2022 at 5:33pm CST by Luke Adams

JULY 6: The Heat have officially re-signed Dedmon, the club announced in a press release. According to Anthony Chiang of The Miami Herald (Twitter link), the deal is conditionally guaranteed for the second year.

“Dewayne brings essential attributes to the center position, including size, length, physicality, rebounding, scoring and a defensive mentality to protect the rim,” team president Pat Riley said in a statement. “He has proven to be a great veteran for us and we are fortunate to have him back.”

Oladipo and the Heat adjusted the terms of his deal, so he’ll be signing for two years instead of one.

JUNE 30: The Heat have reached agreements with a pair of their own free agents. Veteran guard Victor Oladipo is signing a one-year, $11MM contract to remain in Miami, while center Dewayne Dedmon has agreed to a two-year, $9MM pact, according to Shams Charania of The Athletic (Twitter links).

Miami had Oladipo’s Bird rights and Dedmon’s Early Bird rights, so the team won’t have to use its mid-level or bi-annual exception to complete the deals.

A two-time All-Star, Oladipo has appeared in just 60 regular season games since the start of the 2019/20 season due to a series of injuries related to his quad.

He missed most of the ’21/22 campaign while recovering from a surgery, but showed flashes of his old self down the stretch, averaging 12.4 PPG and 3.5 APG on .479/.417/.737 shooting in eight games (21.6 MPG). The former All-Defensive First Teamer also exhibited his old versatility on defense.

A report earlier this week stated that Oladipo was considered unlikely to remain with the Heat, but the two sides ultimately worked out an agreement. It’s possible the club increased its efforts to re-sign Oladipo as a result of losing P.J. Tucker to Philadelphia; it’s also possible Oladipo didn’t get the kind of offers he sought on the open market. Of course, that earlier report may have just been erroneous. In any case, the 30-year-old is on track to return to Miami for another season.

Dedmon will once again slot into the Heat’s depth chart as a backup at the five. The nine-year veteran, who will turn 33 next month averaged 6.3 PPG and 5.8 RPG in 67 games (15.9 MPG) this past season.

Grizzlies Re-Sign Tyus Jones

June 30th, 2022 at 5:24pm CST by Luke Adams

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

JUNE 30: The Grizzlies are re-signing point guard Tyus Jones, according to Adrian Wojnarowski of ESPN (Twitter link). Agent Kevin Bradbury tells Wojnarowski that Jones is signing a two-year, $30MM contract to remain in Memphis.

Jones was expected to draw significant interest from teams in need of help at the point this summer, but many of those teams only had the mid-level exception available. Jones’ new deal with the Grizzlies will be worth significantly more than that.

The NBA’s leader in assist-to-turnover ratio for four straight seasons, Jones has turned the ball over just 326 times in 8,377 career NBA minutes. Besides taking care of the ball and distributing it, the 26-year-old also set career highs in PPG (8.7) and 3PT% (.390) in 2021/22.

Although he has never been a full-time starter for the Grizzlies, Jones plays an important role alongside Ja Morant and provides the team with a solid insurance policy if Morant, who plays at a breakneck pace, continues to deal with injury issues going forward.

Memphis also traded De’Anthony Melton to Philadelphia earlier in the offseason, which could lead to a slightly expanded role for Jones in 2022/23.

Bucks Re-Sign Bobby Portis To Four-Year Contract

June 30th, 2022 at 5:09pm CST by Rory Maher

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

JUNE 30: The Bucks have reached an agreement to re-sign free agent big man Bobby Portis to a four-year, $49MM contract, agent Mark Bartelstein tells Adrian Wojnarowski of ESPN (Twitter link).

That’s the maximum amount that the Bucks could have given Portis using his Early Bird rights after he turned down his $4.6MM player option earlier this week.

The 6’10” Portis had a strong second season with Milwaukee, averaging career-highs in points (14.6) and rebounds (9.1) while appearing in 72 games (28.2 minutes per contest). He also started a career-high 59 games as center Brook Lopez dealt with a back injury which required surgery.

Portis, 27, is well-known for bringing lots of energy and intensity to the court, but he’s also a skilled offensive player, posting a .479/.393/.752 shooting line. He primarily served as a shooter for the Bucks to create space and driving lanes for two-time MVP Giannis Antetokounmpo, who has said he loves playing with Portis.

While Portis is a limited defender, he’s a good rebounder and gives solid effort, he just makes poor decisions and has trouble staying in front of smaller players. He also isn’t much of a rim protector, but Antetokounmpo is a very good backline anchor, which covers up for Portis’ weaknesses somewhat.

Portis was a key reserve when the Bucks won the title in 2020/21 and is a fan favorite in Milwaukee. Given he’s the same age as Antetokounmpo and Lopez is 34 and will be on an expiring deal, clearly the Bucks viewed Portis as a priority to retain, and since they’re over the cap, it’s not like they could easily find someone to replace his production.

Taurean Prince Signs Two-Year Extension With Timberwolves

June 30th, 2022 at 4:47pm CST by Dana Gauruder

JUNE 30: Prince’s extension is now official, according to the Timberwolves (Twitter link).

JUNE 28: Taurean Prince is returning to the Timberwolves on a two-year, $16MM extension, ESPN’s Adrian Wojnarowski tweets.

Prince was headed to unrestricted free agency but had expressed a strong desire to remain in Minnesota, and the team is locking up to an extension that will keep him off the market.

Shortly after the season, Prince said he planned to return, adding that the strong camaraderie in the Wolves’ locker room is something he hasn’t experienced since college. He praised head coach Chris Finch, comparing him to Mike Budenholzer, who coached Prince in Atlanta at the start of his NBA career.

The second year of Prince’s new contract will be non-guaranteed, Jon Krawczynski of The Athletic tweets. It’ll represent a slight pay cut for Prince, who signed a two-year, $25.25MM contract with Brooklyn in 2019 and earned $13.3MM this past season.

Prince averaged 7.3 PPG and 2.5 RPG on .454/.376/.756 shooting in 69 regular season games (17.1 MPG) during his first year in Minnesota. The Wolves held his Bird rights, so they had the ability to go over the cap to re-sign him without using any other exceptions.

Jazz Waive Juancho Hernangomez

June 30th, 2022 at 4:03pm CST by Dana Gauruder

4:03pm: The Jazz have officially waived Hernangomez, the team announced in a press release.

3:01pm: The Jazz are waiving forward Juancho Hernangomez, according to The Athletic’s Shams Charania and Tony Jones (Twitter link).

His $7,307,130 salary for next season would have fully guaranteed if he had remained on the roster beyond Thursday. The move was expected and gives Utah more room to manuever as it reshapes its roster.

Hernangomez, 26, played for three teams while getting dealt four times last season. He played 18 games with Boston, five with San Antonio and 17 with the Jazz. He saw action in 17 games with Utah, including nine starts, and averaged 6.2 PPG and 3.5 RPG in 17.5 MPG.

Spurs Expected To Waive Danilo Gallinari

June 30th, 2022 at 2:47pm CST by Dana Gauruder

The Spurs are expected to waive forward Danilo Gallinari now that their blockbuster trade with the Hawks is official, Adrian Wojnarowski of ESPN tweets.

Gallinari is part of the Dejounte Murray deal. His partial guarantee was increased in order to complete the trade.

His $21.45MM salary next season had only been partially guaranteed for $5MM. His partial guarantee is believed to have been increased by an additional $5-6MM or so to match Murray’s incoming salary. San Antonio will get some cap relief by waiving him before his full salary becomes guaranteed.

Gallinari, 33, is expected to draw interest from contenders in both conferences. The Bulls, Celtics, and Heat are among the teams that have already been linked to him, and Gallinari has interest in those clubs, according to Dave McMenamin of ESPN, who tweets that the forward will be seeking mid-level type money.

Gallinari is a 38.1% career 3-point shooter and has averaged double digits in points since his second NBA season. He averaged 11.7 PPG and 4.7 RPG in 25.3 MPG over 66 regular season games (18 starts) last season.

Spurs Trade Dejounte Murray To Hawks

June 30th, 2022 at 2:39pm CST by Luke Adams

JUNE 30: The trade is official, the Hawks announced in a press release.

“The opportunity to acquire a player of Dejounte’s caliber, just entering his prime, doesn’t come along too often,” Hawks president of basketball operations Travis Schlenk said in a statement. “He has developed into one of the elite two-way guards in the league and we’re thrilled to add him to our group.”

In addition to the pieces detailed below, Atlanta also acquired big man Jock Landale from San Antonio. As Yossi Gozlan of HoopsHype tweets, in order to complete the trade before the new league year began, the Spurs needed to add a little more salary to match Gallinari’s $21.45MM incoming figure, even though it’s not fully guaranteed.

According to Kirschner (Twitter link), it’s not clear yet whether the Hawks plan to keep Landale, whose minimum-salary contract for 2022/23 isn’t fully guaranteed.

JUNE 29: The Spurs have reached an agreement to trade guard Dejounte Murray to the Hawks for a package that includes Danilo Gallinari and multiple first-round picks, reports Adrian Wojnarowski of ESPN (Twitter link). San Antonio will receive three first-rounders and a draft swap, tweets Shams Charania of The Athletic.

According to Wojnarowski and Chris Kirschner of The Athletic (Twitter links), the three picks going to the Spurs will be Charlotte’s 2023 first-rounder (top-16 protected) and the Hawks’ own 2025 and 2027 first-rounders. San Antonio will also have the right to swap first-round selections with Atlanta in 2026.

Those 2025 and 2027 picks – along with the 2026 swap – will be unprotected, tweets John Hollinger of The Athletic.

Marc Stein first reported (via Twitter) that momentum was building toward a Murray trade, noting that the Knicks and Timberwolves were also among the guard’s known suitors. Atlanta has been the team most frequently linked to Murray though, having reportedly explored deals for him dating back to February’s trade deadline.

The deal represents a major backcourt upgrade for the Hawks, who will add an All-Star – and one of the league’s best perimeter defenders – to complement All-NBA guard Trae Young without giving up any players from their projected 2022/23 roster.

It’s not clear if trade candidate John Collins will still be in Atlanta when the ’22/23 season begins, but he’s not part of this deal after having being included in earlier Murray-related rumors.

Murray enjoyed a breakout season in 2021/22, averaging 21.1 PPG, 9.2 APG, 8.3 RPG, and a league-leading 2.0 SPG with a shooting line of .462/.327/.794 in 68 games (34.8 MPG). The 25-year-old was the runner-up for the Most Improved Player award.

Murray’s ability and versatility on defense make him an ideal backcourt partner for Young, who is said to be “ecstatic” about the move, according to Chris Haynes of Yahoo Sports (Twitter link). Murray is under contract for the next two seasons and is owed just over $34MM during that time.

The Spurs’ motives for making the deal are a little less obvious than the Hawks’, since it’s not as if Murray was on an entirely different timeline than the team’s young core, but perhaps he wasn’t part of the club’s plans beyond his current contract. San Antonio’s decision to accept a package heavy on distant draft picks rather than current players signals that short-term contention probably isn’t in the cards as the front office looks toward the future.

The Hornets’ 2023 pick will be lottery-protected in 2024 and 2025 if it doesn’t convey next year, then would turn into two second-round picks if it hasn’t conveyed by that point. The Hawks’ own picks – and the 2026 swap – could be more significantly more valuable, especially if the team takes a downturn within the next few years.

Gallinari’s $21.45MM salary had only been partially guaranteed for $5MM and was set to become fully guaranteed if he remained under contract through today.

The veteran forward probably isn’t in the Spurs’ plans at that full $21.45MM figure, so the most likely outcome is that he’ll have his partial guarantee increased by another $6MM-ish in order to legally match Murray’s salary, then will be waived. Gallinari may agree to push back his salary guarantee date in order to give the teams time to complete the trade and ensure that he receives that extra money, though that’s just my speculation at this point.

Pistons, Kemba Walker Finalizing Buyout Agreement

June 30th, 2022 at 8:05am CST by Arthur Hill

For a second straight summer, Kemba Walker is on track to be bought out. ESPN’s Adrian Wojnarowski reports (via Twitter) that the Pistons and Walker are finalizing a buyout agreement that will pave the way for him to become a free agent.

Technically, Walker isn’t even a Piston yet. The Knicks have agreed to a deal that will send him to Detroit, but it’s not official and likely won’t be until after the July moratorium ends next week, so the veteran point guard will have to wait a little longer to officially become a free agent.

Still, if he and the Pistons have a buyout agreement in place, the team presumably won’t stand in the way of him talking to potential suitors in the hopes of lining up a new deal.

Walker is under contract for $9.2MM next season. The veteran’s minimum salary for a player with more than 10 years of experience projects to be just shy of $3MM, according to Bobby Marks of ESPN (Twitter link), so Walker is likely to give up roughly that amount in his buyout with Detroit.

The Pistons intend to leave Walker’s dead money on their 2022/23 cap rather than stretching it across three seasons, tweets James L. Edwards III of The Athletic.

A four-time All-Star, the 32-year-old guard has been hampered by knee injuries the past two years. He appeared in 37 games for the Knicks this season, but was benched for a while in November and December and was eventually shut down in mid-February. He was limited to 25.6 minutes per night and averaged 11.6 points, 3.0 rebounds and 3.5 assists.

Walker also reached a buyout with the Thunder last August after the Celtics traded him to Oklahoma City. He signed with the Knicks four days later.