Transactions Rumors | Hoops Rumors

Daniel Theis Signs With Pelicans

July 8th, 2024 at 10:48am CST by Arthur Hill

JULY 9: Theis’ deal with New Orleans is now official, according to the NBA’s transaction log.

JULY 8: Free agent center Daniel Theis will join the Pelicans on a one-year contract, sources tell ESPN’s Adrian Wojnarowski (Twitter link).

His salary will be roughly $3MM, according to Kelly Iko of The Athletic (Twitter link). That suggests it’s probably a minimum-salary deal, which would be worth $2,800,834.

The well-traveled big man will provide an inside presence for a New Orleans team that just lost Jonas Valanciunas, who was shipped to Washington in a sign-and-trade deal. Theis could be in contention for a starting spot, depending on how the Pelicans fill out the rest of their roster.

New Orleans will be the sixth team for Theis, who averaged 6.3 points, 4.1 rebounds and 1.0 assists in 59 games with the Clippers last season. He signed with L.A. in mid-November after being waived by Indiana.

Theis, 32, began his career with Boston in 2017. He also had short stays with Chicago and Houston, along with a return to the Celtics late in the 2021/22 season.

Theis was one of the stars of the German team that went undefeated while winning the gold medal at the 2023 FIBA World Cup. He will represent Germany again at this year’s Summer Olympics.

Raptors Re-Sign Immanuel Quickley To Five-Year Deal

July 8th, 2024 at 9:04am CST by Luke Adams

JULY 8: The Raptors have announced the new contract with Quickley (Twitter link).

“Immanuel embodies so many things that are important to our team,” team president Masai Ujiri said. “… He wants to win and he will be a Raptor for years to come. We are very high on I.Q. – our point guard of the future.”

JUNE 28: Immanuel Quickley, a restricted free agent this offseason, intends to re-sign with the Raptors, according to Shams Charania of The Athletic, who reports (via Twitter) that the guard will receive a five-year contract worth $175MM.

Quickley, the Sixth Man of the Year runner-up in 2022/23, was the centerpiece of the Raptors’ return in the OG Anunoby trade with the Knicks in December, arriving in Toronto midway through the season along with RJ Barrett.

The fourth-year guard averaged 18.6 points, 6.8 assists, and 4.8 rebounds per game with a .395 3PT% in his first 38 games as a Raptor, establishing himself as part of the team’s long-term future.

As we wrote when we ranked Quickley seventh in our list of this summer’s top 50 free agents, Tyler Herro (four years, $120MM, plus incentives), Jordan Poole (four years, $123MM, plus incentives), and Devin Vassell (five years, $135MM, plus incentives) were expected to be a few points of comparison for the guard’s contract negotiations this summer.

While it remains to be seen if Quickley’s $175MM will be fully guaranteed, the 25-year-old appears poised to land a bigger payday than any of those players by securing an annual average value of $35MM per year.

It’s the second major financial commitment the Raptors will make to a cornerstone piece this summer. The team also reportedly intends to sign Scottie Barnes to a five-year rookie scale extension that will begin in 2025/26 and will be worth a projected $225MM.

Neither deal can become official until July, and Toronto may not rush to formally complete Quickley’s deal, since his cap hold is just $12.5MM. If they end up operating under the cap, the Raptors can use up all their room while keeping that hold on their books, then go over the cap using Quickley’s Bird rights to sign him to his new deal.

Quickley is the fifth free agent in the top 10 of our top-50 list to reach an agreement with his team during the new exclusive negotiating window between the end of the NBA Finals and the official start of free agency on June 30. He joins Anunoby, Pascal Siakam, Nic Claxton, and Malik Monk as players who have agreed to remain with their current teams. The other players in our top 10 are Paul George, Tyrese Maxey (who is considered a lock to remain in Philadelphia), LeBron James, DeMar DeRozan, and James Harden.

Scottie Barnes Signs Max Extension With Raptors

July 8th, 2024 at 9:02am CST by Arthur Hill

JULY 8: Barnes’ extension is now official, the Raptors confirmed (via Twitter).

“We are so proud of Scottie for the player and leader he has become,” team president Masai Ujiri said in a press release. “I’ve said before that he is the type of player you build a team around. Well, we are doing that. … Together, our future starts here. It starts now.”

JUNE 24: Scottie Barnes will receive a maximum-salary extension from the Raptors that could pay him up to $270MM over five years, sources tell ESPN’s Adrian Wojnarowski (Twitter link).

The deal won’t include a team or player option, reports Michael Scotto of HoopsHype.

Toronto intends to rebuild its roster around the 2022 Rookie of the Year, according to Wojnarowski, who adds that agent Bill Duffy of WME Basketball recently met with team president Masai Ujiri and general manager Bobby Webster to work out the terms of the deal. Barnes will become eligible to sign it once the moratorium lifts on July 6.

Cap expert Yossi Gozlan (Twitter link) offers details on the projected salaries for Barnes, noting that the base value of the extension projects to be nearly $225MM (based on a $141MM cap in 2024/25 and a 10% increase for ’25/26), but it could reach $270MM if he makes an All-NBA team next season.

[Hoops Rumors Glossary: Derrick Rose Rule]

Without an All-NBA nod next spring, Barnes would be on track to earn $38,775,000 when the extension begins with the 2025/26 season, followed by $41,877,000 in 2026/27, $44,979,000 in 2027/28, $48,081,000 in 2028/29 and $51,183,000 in 2029/30.

Barnes’ extension and an expected new deal for Immanuel Quickley mean the Raptors likely won’t have any cap space to work with next summer, Gozlan adds (Twitter link). They could have about $30MM available this year if they decline their $23MM team option on Bruce Brown or trade him without receiving much salary in return.

Barnes has emerged as Toronto’s franchise player since being drafted with the fourth pick in 2021. He earned his first All-Star selection this season, averaging 19.9 points, 8.2 rebounds and 6.1 assists in 60 games. His season ended early when he underwent surgery for a broken bone in his left hand in early March.

The Raptors seemed to anoint him as the key to their future when they traded away OG Anunoby and Pascal Siakam in separate deals over the winter.

Barnes becomes the first member of the 2021 draft class to reach an extension with his team. Cade Cunningham, Jalen Green, Evan Mobley and Jalen Suggs are among the others in line for extensions this summer.

Pacers Sign Johnny Furphy To Four-Year Deal

July 7th, 2024 at 9:55pm CST by Dana Gauruder

The Pacers have signed second-round pick Johnny Furphy to a four-year, $8.59MM contract, Michael Scotto of HoopsHype tweets. The fourth year is a team option.

Furphy was projected as a first-round pick and even had a green room invite but slipped to the second round. He was part of a draft night trade after being selected by the Spurs with the No. 35 selection.

Indiana is using the second-round exception to sign Furphy. The max allowed under the second-round exception on a four-year deal is around $9.06MM, so Furphy took a little less than that.

Players who are signed using the second-round pick exception won’t count against a team’s cap between July 1 and July 30 of their first season.

He averaged 9.0 points and 4.9 rebounds in 24.1 minutes per game in his one-and-done season at Kansas.

Sixers Sign Tyrese Maxey To Five-Year Max Contract

July 7th, 2024 at 7:31pm CST by Luke Adams

JULY 7: The signing is official, according to a team press release.

“Tyrese subscribes to the philosophy that every day is a chance to get one percent better and he’s proven that and then some in his first four seasons in the NBA,” top exec Daryl Morey said. “He comes from an amazing family and is one of the hardest workers I’ve ever met. … This extension is a reflection of our belief in Tyrese and I can’t wait to watch his continued evolution as a leader and superstar.”

JULY 1: As expected, the Sixers and restricted free agent guard Tyrese Maxey have reached an agreement in principle on a five-year, maximum-salary contract, sources tell ESPN’s Adrian Wojnarowski (Twitter link).

As our breakdown of the maximum salaries for 2024/25 shows, Maxey’s new deal will start at $35,147,000 (25% of this year’s salary cap) and will be worth a total of $203,852,600. It’ll be fully guaranteed, with no option in year five, Wojnarowski adds (via Twitter).

Maxey initially became eligible for a rookie scale extension last July, but word broke just over a year ago that the Sixers wouldn’t be pursuing a new deal with the rising star at that time, since they wanted to maximize their cap room for 2024.

By letting Maxey reach free agency instead of extending him early, Philadelphia is carrying a cap hold worth just $13MM for the guard this summer instead of having him on the books for $35MM+, which helped clear the path for the team to land Paul George on a maximum-salary contract.

After Maxey agreed to put off his payday by a year, there was always an expectation that the 76ers would take care of him in restricted free agency, but he made that decision even easier by leveling up as the club’s lead guard in 2024/25 following the early-season trade of James Harden.

Maxey averaged 25.9 points, 6.2 assists, and 3.7 rebounds in 37.5 minutes per game across 70 outings (all starts) this past season, posting a shooting line of .450/.373/.868. The performance earned him the 2024 Most Improved Player award.

The No. 2 free agent on our top-50 list, Maxey is the third player in the 2024 FA class to agree to a maximum-salary contract this summer, joining his new teammate George and Pacers forward Pascal Siakam. Lakers star LeBron James could join that group in the coming days, though the terms of his next deal remain up in the air as L.A. considers its roster options.

If he had made an All-NBA team this season, Maxey would’ve qualified for a contract that started at up to 30% of this year’s cap instead of 25%, increasing his potential earnings to $244.6MM. While he did earn All-NBA votes, the 23-year-old finished a little outside of the top 15, missing out on meeting the Rose Rule criteria.

The 76ers will use up all their cap room before going over the cap to officially re-sign Maxey using his Bird rights.

Cavs Sign Donovan Mitchell To Three-Year Extension

July 7th, 2024 at 4:54pm CST by Luke Adams

JULY 7: The extension is official, according to a team press release.

“Signing Donovan Mitchell to an extension serves as a pivotal moment for our franchise and reinforces our vision and goals for sustainable success,” Cavs president Koby Altman said. “Donovan is one of the most dynamic All-NBA players in the league and we couldn’t be more excited that he chose Cleveland and this community to continue his basketball journey. We want to align ourselves with the best teams in the NBA and ultimately compete for championships, and we feel securing Donovan long-term provides us that opportunity.”

JULY 2: The Cavaliers and star guard Donovan Mitchell have agreed to terms on a three-year, maximum-salary contract extension projected to be worth more than $150MM, reports Adrian Wojnarowski of ESPN. The deal will include a third-year player option, Wojnarowski adds.

Mitchell, who spent his first five NBA seasons in Utah, was traded to Cleveland in 2022 for a significant package of assets that included Lauri Markkanen and three future unprotected first-round picks. Since joining the Cavs, Mitchell has led the team to consecutive top-four seeds in the East and has averaged 27.5 points, 5.2 assists, and 4.6 rebounds in 35.6 minutes per night across 123 regular season games, with a shooting line of .475/.378/.866.

There was plenty of speculation over the past two years that playing outside of a major NBA market and not experiencing significant postseason success may prompt Mitchell to forgo an extension in Cleveland in order to seek a change of scenery. The Cavs were eliminated in the first round in 2023 and eked out a first-round win in Game 7 over the lower-seeded Magic in 2024 before being knocked out in round two.

However, Cleveland has long projected confidence that Mitchell would make a commitment to the franchise, with head of basketball operations Koby Altman publicly reiterating that message on Monday. The coaching change the Cavs made this offseason signaled that management was in alignment with Mitchell, who reportedly didn’t have full confidence in J.B. Bickerstaff and endorsed the hiring of Kenny Atkinson.

Within his full story on the extension agreement, Wojnarowski writes that Mitchell and agent Austin Brown feel good about the partnership with the Cavs and have confidence in the front office’s ability to continue building the roster into a championship contender

Mitchell’s new contract – which will begin in 2025/26, replacing the player option in his current agreement – could have been for up to four years. However, a three-year extension with a player option will put him on track to potentially sign a new deal beginning in 2027, when he has 10 years of NBA experience and will qualify for a maximum salary worth 35% of the cap (instead of 30%). Michael Scotto of HoopsHype first reported last month that Mitchell would likely take this route.

Based on the NBA’s most recent cap projection for 2025/26, Mitchell’s new deal would start at $46,394,100, with a guaranteed $50,105,628 salary for ’26/27 and a $53,817,156 player option for ’27/28. The total would be $150,316,884.

Now that they know they’ll have Mitchell under contract for at least the next three seasons, the Cavaliers can move forward with plans to address the rest of the roster around him.

There were rumors in the spring that the team may consider trades to address the overlapping skill sets in the backcourt (Mitchell and Darius Garland) and frontcourt (Evan Mobley and Jarrett Allen) and to better balance the roster. On top of that, one report indicated that a Mitchell extension might prompt Garland’s agent – Rich Paul – to talk to the team about the possibility of finding a new home for his client.

However, Altman indicated in May that he’s not inclined to trade any of the club’s core four players, and reports since then have confirmed that stance hasn’t changed. Additionally, as Chris Fedor of Cleveland.com recently pointed out (via Twitter), some of the teams that were considered likely suitors for Garland have already addressed their point guard spot in other ways (e.g. Dejounte Murray in New Orleans; Chris Paul in San Antonio).

Spurs Officially Sign Chris Paul

July 7th, 2024 at 4:21pm CST by Dana Gauruder

The Spurs have officially signed 11-time All-NBA guard Chris Paul, according to a team press release relayed by ESPN’s Andrew Lopez (Twitter link).

Paul’s intention to sign with San Antonio was made public a week ago. The contract will reportedly be a one-year deal worth more than $11MM.

Paul was waived by the Warriors at the start of free agency. The 12-time All-Star figures to be a natural, if short-term, pick-and-roll partner for Victor Wembanyama.

Paul came off the bench a majority of the season for Golden State but will likely start for the Spurs. San Antonio used a variety of players to initiate the offense in Wembanyama’s rookie season with Tre Jones getting a majority of the starts at that position. Still, given that the Spurs seemed reluctant to make Jones their starter and didn’t do so until January, it seems unlikely that he would get the nod in next year’s starting five over the veteran Paul.

San Antonio’s cap space gave it an advantage over some other potential suitors for Paul. Golden State had to make a decision prior to free agency whether to guarantee Paul’s $30MM salary for the 2024/25 season. The Warriors were unsuccessful in their attempts to include Paul’s contract in a blockbuster deal, including a potential swap with the Clippers for Paul George.

Paul, who turned 39 in May, remained productive in 2023/24, averaging 9.2 points, 6.8 assists, and 3.9 rebounds in 26.4 minutes per game in 58 appearances (18 starts) for the Warriors. He posted a shooting line of .441/.371/.827.

KJ Simpson Signs Two-Way Deal With Hornets

July 7th, 2024 at 4:01pm CST by Alex Kirschenbaum

5:25pm: The signing is official, according to a team press release.

4:01pm: Former Colorado point guard KJ Simpson is signings a two-way deal with the Hornets, sources inform Michael Scotto of HoopsHype (Twitter link).

Charlotte selected Simpson with the No. 42 overall pick in last month’s draft.

A two-time All-Pac-12 honoree during his three-season stint with the Buffaloes, the 6’0″ Simpson notched career-best averages of 19.7 points, 5.8 rebounds, 4.9 assists, and 1.6 steals per game in 2023/24.

Simpson is most valued for his offensive upside with the club, especially as a scorer and play-maker, but could struggle on the other end as an undersized guard.

He’ll join former two-time ACC All-Defense North Carolina guard Leaky Black among the club’s two-way signings, leaving one open slot.

In the first round of the draft, Charlotte selected 6’9″ former Cholet Basket power forward Tidjane Salaun with the sixth overall pick.

Heat Waive Orlando Robinson

July 7th, 2024 at 1:56pm CST by Alex Kirschenbaum

The Heat have waived reserve center Orlando Robinson, the team announced (Twitter link).

The 23-year-old had been on a non-guaranteed $2.1MM deal with the Heat heading into the 2024/25 season. With this move, the seven-foot big man is on track to become an unrestricted free agent, assuming he clears waivers on Tuesday.

Robinson’s tenure with the team had been expected to end after Miami made a series of moves to shore up its depth at center, re-signing veteran floor-spacing big man Kevin Love and rim-running five Thomas Bryant after selecting former Indiana center Kel’el Ware with the No. 15 pick in this year’s draft.

The decision to bring back Bryant was a curious one, as his lackluster defense occasionally led to a complete banishment from the team’s rotation. He lacks the offensive upside of Love, a great passer and shooter, or the intriguing defense of Robinson. Bryant’s three-point shooting also fell off mightily, from a career 35.5% on 1.3 triple tries per game to just 18.2% on 0.6 attempts.

The seven-foot Robinson went undrafted out of Fresno State in 2022. He inked multiple two-way deals with the Heat in 2022/23, toggling between Miami and its NBAGL affiliate squad, the Sioux Falls Skyforce. He signed a standard deal with the Heat following the team’s 2023 Finals run. Robinson was a fringe rotation player as a springy, raw big man. He appeared in just 36 contests for Miami in 2023/24, averaging 2.8 points on a .500/.533/.760 shooting line. Robinson also chipped in 2.3 rebounds and 0.9 assists per night.

As Barry Jackson of The Miami Herald tweets, cutting Robinson leaves the Heat with 13 players signed to their 15-man standard roster. The Heat will look to add at least a 14th player prior to the start of the season.

Wizards’ Carlton Carrington Signs Rookie Contract

July 7th, 2024 at 1:37pm CST by Alex Kirschenbaum

Former Pittsburgh point guard Carlton Carrington has officially signed his rookie scale contract with the Wizards, according to NBA.com’s transactions log.

Last season, the 6’4″ guard averaged 13.8 points per game on a .412/.322/.785 shooting line while at Pitt. He also chipped in 5.2 rebounds and 4.1 assists per contest.

He was selected with the No. 14 pick by the Wizards, after Washington acquired the selection from the Trail Blazers as part of the Deni Avdija trade.

In that deal, the Wizards took pack the draft rights to Carrington, a 2029 first-round selection, a pair of second-rounders, and the expiring $22.5MM contract of former Sixth Man of the Year guard Malcolm Brogdon. Perhaps Brogdon can now serve as a stabilizing veteran mentor to Carrington.

Washington, coming off a dismal 2023/24 season, was heavily involved in the draft, making three first-round picks. The Wizards selected former NBL big man Alex Sarr with the No. 2 overall pick in the draft last month and ex-Miami freshman catch-and-shoot specialist swingman Kyshawn George with the No. 24 selection. Both Sarr and George previously signed to their rookie-scale deals.

Provided Carrington signs for 120% of his rookie-scale salary (the top allowable sum), his four-year agreement with the team would be worth $21,290,769 (with $4.45MM allocated to his rookie season).