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Kings Sign Jordan McLaughlin To One-Year Deal

July 7th, 2024 at 6:32am CST by Luke Adams

JULY 9: McLaughlin has officially signed with the Kings, according to the NBA’s transaction log. It’s a minimum-salary deal, Hoops Rumors has confirmed.

JULY 7: The Kings and free agent point guard Jordan McLaughlin have agreed to a one-year contract, agent Greg Lawrence tells Adrian Wojnarowski of ESPN (Twitter link). Sean Cunningham of FOX 40 Sacramento (Twitter link) was the first to report that the two sides were nearing a deal.

McLaughlin, 28, has spent all five of his NBA seasons to date with the Timberwolves, providing backcourt depth behind the team’s various starting point guards — he has come off the bench in 235 of 242 career regular season outings. In 2023/24, the former USC standout averaged 3.5 points and 2.0 assists in 11.2 minutes per game across 56 appearances.

While McLaughlin’s counting stats are modest, he does a good job taking care of the ball, having averaged just 0.3 turnovers per game last season, and is a solid shooter. His .472 3PT% in ’23/24 was an outlier, but he has made 36.9% of his career three-point attempts.

McLaughlin will give Sacramento another option behind De’Aaron Fox in a backcourt that will no longer feature former lottery pick Davion Mitchell, who was traded to Toronto in June.

While terms of the agreement have yet to be reported, the Kings project to have little breathing room below the luxury tax line once they complete their sign-and-trade deal for DeMar DeRozan, so I’d expect McLaughlin to sign for the veteran’s minimum. For a player with his five years of experience, that would work out to a salary of about $2.43MM for him, with Sacramento carrying a cap hit of approximately $2.09MM.

Lakers Re-Sign LeBron James To Two-Year Deal

July 6th, 2024 at 11:21pm CST by Luke Adams

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

“No one plays the game like LeBron James, and his commitment to continuous performance and long-term sustained excellence is unmatched,” Lakers head of basketball operations Rob Pelinka said in a statement. “LeBron is one of the most dynamic and competitive players to ever take the NBA court and we’re grateful to have his leadership as he returns for a seventh season with the Lakers.

“Alongside fellow team captain Anthony Davis, LeBron and new Lakers head coach JJ Redick will together lead a championship-caliber team that will play with great pride every time they take the floor. Entering his 22nd season of NBA basketball, LeBron continues to remind us that no obstacle is too big and no goal is out of reach. We’re so thankful that the history-making story of LeBron James will continue to be written in front of Lakers fans throughout the world.”

According to ESPN’s Bobby Marks (Twitter links), LeBron’s two-year deal is worth approximately $101.35MM, a little below his max. The savings will allow the team to operate ever so slightly ($45K) under the second tax apron.

In addition to featuring a player option and a no-trade clause, the contract will include a 15% trade kicker, tweets Charania.

JULY 3: LeBron James is returning to the Lakers on a two-year, maximum-salary contract that will be worth approximately $104MM, reports Shams Charania of The Athletic (Twitter link). According to Adrian Wojnarowski of ESPN (Twitter link), the deal will include a second-year player option and a no-trade clause.

Wojnarowski adds (via Twitter) that the Lakers and agent Rich Paul are still discussing the possibility of James accepting $1MM or so below his max in order to allow the team to operate slightly below the second tax apron and to have a little extra roster-building flexibility.

The NBA’s all-time leading scorer, James had his 20th consecutive All-Star and All-NBA season in 2023/24 at age 39, averaging 25.7 points, 8.3 assists, and 7.3 rebounds in 35.3 minutes per game for the Lakers. He posted an impressive shooting line of .540/.410/.750 and appeared in 71 games, his most in a season since he arrived in Los Angeles in 2018.

While James declined his 2024/25 player option in order to become a free agent, there was never any real belief that he’d leave Los Angeles or the Lakers, who selected his son Bronny James with the 55th overall pick in last week’s draft. However, there was some uncertainty entering free agency about what LeBron’s new contract would look like.

A report ahead of the start of the free agent period indicated that James would be open to taking a pay cut if the additional cap flexibility would help the Lakers land an impact player like James Harden or Klay Thompson. However, the expectation was that LeBron would still seek the max if the players on his short list were unattainable.

As Bobby Marks of ESPN notes (via Twitter), James’ new contract projects to put L.A.’s team salary right around the second tax apron, so the club wouldn’t be able to acquire a player via sign-and-trade or use the full mid-level exception without some significant cost-cutting.

The league-wide maximum salary in 2024/25 for a player with at least 10 years of experience is about $49.2MM, but a player is always permitted to earn up to a 5% raise on his previous salary. That means that James, who made about $47.6MM last season, would have a starting salary of $49,987,718 on his new contract if he signs for the max. The 2025/26 option will be worth $53,986,735, for a total of $103,974,453.

The agreement puts the four-time MVP on track to become the first player in NBA history to surpass the $500MM mark in career earnings, tweets Tim Reynolds of The Associated Press.

James will become the second NBA player to hold a no-trade clause for the 2024/25 season, joining Suns guard Bradley Beal. A player is eligible to negotiate a no-trade clause if he’s signing a free agent contract, has at least eight years of NBA experience, and has spent at least four years with the team he’s signing with. LeBron previously had a no-trade clause in his contract during his second stint in Cleveland.

James had been the No. 4 free agent on our top-50 list.

Paul George Signs Four-Year Max Contract With Sixers

July 6th, 2024 at 10:52pm CST by Tristan Tucker

JULY 6: The Sixers have made it official with George, announcing in a press release that he has officially signed with the franchise.

“We are thrilled to welcome Paul George to the Philadelphia 76ers. Paul is an elite wing on both ends of the floor who fits perfectly with Joel Embiid and Tyrese Maxey,” president of basketball operations Daryl Morey said in a statement. “His dedication, hard work, and impressive career to date have him well on his way to the Hall of Fame. We are excited about the impact he will have as we strive to bring another championship to Philadelphia.”

JULY 1: The Sixers are signing star free agent forward Paul George to a four-year, maximum-salary contract worth nearly $212MM, according to ESPN’s Adrian Wojnarowski. The fourth year of the deal will be a player option.

George will return to the Eastern Conference for the first time since being traded from the Pacers to the Thunder in 2017, joining a Sixers team led by former MVP Joel Embiid and reigning Most Improved Player Tyrese Maxey.

According to Wojnarowski, George and his agent, Aaron Mintz of CAA met with a contingent of Sixers officials – including team owner Josh Harris, president of basketball operations Daryl Morey, executive VP of basketball operations Peter Dinwiddie (a former Pacers executive and a friend of George), and GM Elton Brand, along with franchise legend Julius Erving – and committed to Philadelphia.

The Sixers, Clippers, and Magic entered Sunday expected to be in the running for George, but all the momentum seemed to be in Philadelphia’s favor, with the Clippers formally bowing out of the running and Orlando committing a significant chunk of its cap room to another player (Kentavious Caldwell-Pope).

The Clippers released a statement earlier Sunday announcing the Los Angeles native would be departing his hometown team to sign with another club, explaining that the two sides were “far apart” in negotiations and citing the challenges of the new Collective Bargaining Agreement.

The Clippers originally acquired George in the summer of 2019 in a trade that sent out Shai Gilgeous-Alexander and several first-round picks and swaps to the Thunder. The Clippers brought in George and Kawhi Leonard, who was fresh off winning a title with the Raptors.

George earned three All-Star nods in his five seasons with the Clippers, averaging 23.0 points, 6.0 rebounds and 4.5 assists per contest across 263 games with the franchise. While the Clippers never wound up winning a title with George on the team, he did help lead the franchise to its first-ever Western Conference Finals appearance in 2020/21.

The Clippers signed Leonard to a three-year, $152MM contract extension during the season, but they couldn’t agree to a deal with George as the season wound to a close. As explained earlier Sunday, the Clippers are being cautious about handing out contracts longer than three years given the restrictions the second apron imposes.

Since the Clippers didn’t feel comfortable giving George more money or years than they gave Leonard, the star forward declined his open to reach the open market. Now, he’s going to be a Sixer, and the Clippers will continue turn to other targets in free agency. They’ve already reached contract agreements with Derrick Jones Jr. and Kevin Porter Jr. in addition to striking a deal to bring back James Harden.

George holds career averages of 20.8 points, 6.3 rebounds and 3.7 assists in 867 career NBA games. At 34 years old, George is cashing in one last huge multiyear payday, teaming up with Embiid and Maxey in the hopes of raising the Sixers’ standing within the Eastern Conference hierarchy.

Besides agreeing to terms with George, Philadelphia has also reached deals with Andre Drummond, Kelly Oubre, and Eric Gordon during the early part of free agency.

As our breakdown of maximum salaries for 2024/25 shows, George will earn $49,205,800 in the first year of his max deal, with 5% annual raises after that, for a total of $211,584,940 across the next four years. It’s a massive investment in a player who has an injury history (he appeared in more than 56 games in a regular season just once in his time in L.A.) and who will turn 38 before the contract expires.

Vlatko Cancar Re-Signs With Nuggets

July 6th, 2024 at 10:41pm CST by Arthur Hill

Vlatko Cancar has signed a new contract with the Nuggets, according to NBA.com’s transactions log.

Details of the deal weren’t released, but Vinny Benedetto of The Denver Gazette (Twitter link) says the deal is worth the veteran’s minimum. As we noted recently, a one-year minimum deal would pay Cancar $2.3MM while carrying a $2.09MM cap hit.

The 27-year-old power forward became an unrestricted free agent last month when the Nuggets declined their option for next season. However, the two sides continued to negotiate in hopes of keeping him in Denver. They wound up with a new agreement that gives Cancar a slight raise while decreasing his impact on the Nuggets’ cap number.

Cancar missed all of last season with a torn ACL, but he was able to play for Slovenia in this week’s Olympic qualifying tournament and he should be 100% when training camp opens in late September.

Cancar has spent his entire NBA career in Denver after being selected with the 49th pick in the 2017 draft. He was an important contributor during the Nuggets’ championship season, appearing in 60 games and averaging 5.0 points, 2.1 rebounds and 1.3 assists in 14.8 minutes per night.

Kings To Acquire DeMar DeRozan In Three-Team Trade

July 6th, 2024 at 9:26pm CST by Arthur Hill

DeMar DeRozan is headed from the Bulls to the Kings in a three-team deal that also includes the Spurs, sources tell ESPN’s Adrian Wojnarowski (Twitter link). San Antonio will receive Harrison Barnes, while Chicago will get Chris Duarte, two second-round picks and cash. In addition, the Spurs will get an unprotected pick swap from Sacramento in 2031.

The deal is a sign-and-trade for DeRozan, who ranked sixth on our list of the top 50 free agents for this summer. His new contract will be worth approximately $76MM over three years, according to Chris Haynes of TNT and Bleacher Report (Twitter link), who adds that the first two seasons are fully guaranteed with a partial guarantee for the final year.

The contract includes $49MM in guaranteed money over the first two seasons, per Sean Cunningham of FOX 40 Sacramento (Twitter link). It also features bonuses for being named an All-Star, tweets ESPN’s Bobby Marks.

The trade leaves the Kings hard capped at the $178.1MM first apron, per cap expert Yossi Gozlan (Twitter link). They’re about $5.8MM beneath the $170.8MM luxury tax with 12 players under contract. Gozlan points out that Sacramento can add two more players to its roster without going into tax territory, but using most of its remaining $12.8MM non-taxpayer mid-level exception will push the team over the threshold.

Sacramento will also create a $5.9MM trade exception in the deal, Gozlan adds.

The Kings were heavily pursing DeRozan, who traveled to Sacramento for a meeting today with team officials. The 34-year-old forward was extremely productive during his three seasons in Chicago, averaging 25.5 points, 4.7 rebounds and 5.1 assists and finishing near the top in the Clutch Player of the Year balloting the past two seasons.

The six-time All-Star will now team with De’Aaron Fox, Domantas Sabonis, Malik Monk and Keegan Murray on what should be one of the league’s most exciting offenses. The Kings will be counting on that group to lead them back to the playoffs after being eliminated in the play-in tournament last season.

Parting with DeRozan is the latest step in an offseason roster shakeup in Chicago, which has already traded Alex Caruso and lost Andre Drummond in free agency. The Bulls are shifting to a younger and less expensive roster in hopes of eventually rebuilding into a more competitive team.

Duarte, a 27-year-old swingman with three years of NBA experience, is the latest addition, but it’s uncertain how large his role will be. He appeared in 59 games with Sacramento last season, but averaged just 3.9 points and 1.8 rebounds in 12.2 minutes per night. Duarte is under contract for one more season at $5.9MM and is eligible for an extension through October 21. Chicago will create a $17.6MM trade exception in the deal, according to Bobby Marks of ESPN (Twitter link).

Barnes joins Chris Paul as veteran offseason additions in San Antonio. The 32-year-old is extremely durable, playing in all 82 games the past two seasons. He can handle either forward spot and he figures to get plenty of open looks alongside Paul and Victor Wembanyama. Barnes averaged 12.2 points, 3.0 rebounds and 1.2 assists last season with .474/.387/.801 shooting stats.

The Spurs will use their cap space to absorb Barnes’ $18MM salary for the upcoming season, Wojnarowski and Tim Bontemps write in a full story on the trade. Barnes will make $19MM in 2025/26 before becoming an unrestricted free agent.

Barnes’s contract includes a $3.7MM trade kicker that Sacramento will be responsible for, Marks adds (Twitter link), broken up into $1.85MM for each of the next two seasons. That number could be negotiated down, but only with Barnes’ consent.

San Antonio will likely need to make one or two minor cost-cutting moves (they have Charles Bassey and Julian Champagnie on non-guaranteed contracts) in order to accommodate both Barnes and Paul.

Klay Thompson Sign-And-Trade Completed As Six-Team Deal

July 6th, 2024 at 9:23pm CST by Luke Adams

The Mavericks announced on Saturday that they’ve acquired longtime Warriors sharpshooter Klay Thompson via sign-and-trade in the first six-team deal in NBA history (Twitter link).

“We’re thrilled to have Klay join us in Dallas,” Mavericks president of basketball operations Nico Harrison said in a statement. “As one of the league’s greatest shooters who competes on both ends, we feel Klay is a perfect fit for our team. He adds a strong, experienced veteran voice that will help us continue to build on the success we’ve seen in recent years. Klay’s championship experience, clutch performances and calm demeanor under pressure exemplify what it takes to win in the NBA at the highest level. He will help us continue to grow towards our goal of winning another championship.”

The Hornets, Timberwolves, Sixers, and Nuggets are also involved in the trade, with separate agreements involving Kyle Anderson (Minnesota to Golden State), Buddy Hield (Philadelphia to Golden State), and Reggie Jackson (Denver to Charlotte) all folded into a single mega-deal.

As best we can tell, the terms are as follows:

Mavericks acquire Thompson (sign-and-trade) and a 2025 second-round pick.
Warriors acquire Anderson (sign-and-trade) and Hield (sign-and-trade).
Hornets acquire Josh Green, Jackson, the Nuggets’ 2029 second-round pick, and the Nuggets’ 2030 second-round pick.
Timberwolves acquire a 2025 second-round pick, a 2031 second-round pick swap (from Warriors), and cash (from Warriors).
Sixers acquire the Mavericks’ 2031 second-round pick.
Nuggets acquire cash (from Hornets).

There’s at least one minor adjustment from the original agreements. Because the Warriors benefit most from turning multiple deals into a single trade (they can use Thompson’s outgoing salary to salary-match for both Anderson and Hield, allowing them to give the two players a higher combined salary than what Thompson’s will make), they’re no longer receiving a second-round pick from the Hornets. It appears that pick is being rerouted to the Wolves, who needed to send or receive an asset from another team besides Golden State.

We don’t yet know the exact details of the 2025 second-rounders being acquired by Dallas and Minnesota, but it looks like one of them is the 2025 Nuggets pick that Charlotte initially agreed to acquire as part of the Jackson trade and one of them is the 2025 Sixers pick that Charlotte already controlled. The Hornets were always going to send out two second-round picks for Green — they’re just going to Dallas and Minnesota now, instead of Dallas and Golden State.

There may be more moving pieces here though, since none of the announcements from the six teams involved have shared the full details, so we’ll keep an eye out for updates.

For more details on all these trades, be sure to check out our original stories:

Mavericks to acquire Klay Thompson (story)
Warriors to acquire Kyle Anderson (story)
Warriors to acquire Buddy Hield (story)
Hornets to acquire Reggie Jackson (story)

Nets, Knicks Officially Complete Mikal Bridges Trade

July 6th, 2024 at 8:16pm CST by Luke Adams

The Knicks have officially acquired star forward Mikal Bridges from the Nets, the teams announced today in a pair of press releases.

“We are thrilled to add a player of Mikal’s caliber to the Knicks family. His ability to score, shoot and defend at an elite level will add to a team that continues to grow,” Knicks president Leon Rose said in a statement. “Not only does he demonstrate excellence on the court but Mikal’s strength of character, diligence and dedication to the game of basketball are vital to the culture we continue to build in New York.”

The two clubs reached an initial agreement on June 25, then finalized an expanded version of the deal on Thursday to allow the Knicks to avoid becoming hard-capped at the first tax apron ($178.1MM). New York will instead be hard-capped at the second apron ($188.9MM).

The final terms are as follows:

Knicks acquire Bridges, Keita Bates-Diop, the draft rights to Juan Pablo Vaulet, and either the Pistons’, Bucks’, or Magic’s 2026 second-round pick (whichever is least favorable).
Nets acquire Bojan Bogdanovic, Shake Milton (sign-and-trade), Mamadi Diakite, the Knicks’ 2025 first-round pick, the Bucks’ 2025 first-round pick (top-four protected), the Knicks’ 2027 first-round pick, the Knicks’ 2029 first-round pick, the Knicks’ 2031 first-round pick, the right to swap a 2028 first-round pick for the Knicks’ 2028 first-round pick, and the Nets’ 2025 second-round pick.

The addition of Vaulet’s rights is new, and we now have the details on the draft pick headed to New York in the deal, but otherwise these are the terms that had been previously reported.

Milton’s new three-year contract is worth $9.16MM in total, with a $2.86MM guaranteed salary in year one, tweets Fred Katz of The Athletic. Brooklyn will be hard-capped at the first apron in 2024/25 as a result of acquiring him via sign-and-trade.

The Nets almost certainly used existing traded player exceptions to take on their incoming players, which means they’ll generate a sizable new TPE worth Bridges’ outgoing salary ($23.3MM). They’ll have one year to use it.

For more details on one of the summer’s biggest trades, be sure to check out our original stories on the agreement.

Hawks Trade Dejounte Murray To Pelicans

July 6th, 2024 at 6:37pm CST by Tristan Tucker

JULY 6: The trade sending Murray to the Pelicans is now official, according to press releases from both teams.

“Dejounte is among the best two-way guards in the NBA and adds another dimension to our team, and we could not be more excited to welcome him and his family to New Orleans,” Pelicans head of basketball operations David Griffin said within New Orleans’ announcement.

Cody Zeller was signed-and-traded to Atlanta as part of the deal for salary-matching purposes. His exact contract details have yet to be reported, but ESPN’s Bobby Marks (Twitter link) says the veteran center will earn in excess of $3MM in 2024/25. The contract must be for at least three years, though only the first season needs to be guaranteed.

Zeller’s inclusion means Murray can earn his full $12MM trade bonus.

The 2027 pick going to Atlanta, which will be the least favorable of the Bucks’ and Pelicans’ first-rounders, is top-four protected.

JUNE 28: The Hawks are trading guard Dejounte Murray to the Pelicans, according to ESPN’s Adrian Wojnarowski (Twitter link).

In exchange for Murray, the Pelicans are sending forward Larry Nance Jr., 2022 No. 8 overall pick Dyson Daniels, and two first-round picks to Atlanta, Shams Charania of The Athletic reports (Twitter links). Forward E.J. Liddell will also head to the Hawks in the deal, per Christian Clark of NOLA.com (Twitter link).

According to Wojnarowski (Twitter link), the picks the Pelicans are sending the Hawks in the deal are the Lakers’ 2025 first-round selection and a 2027 first-rounder, which will be the least favorable of the Bucks’ and Pelicans’ picks.

The Hawks originally acquired Murray from the Spurs in 2022 to pair him with star guard Trae Young. Atlanta sacrificed several draft assets – including its own unprotected 2025 and 2027 first-round picks and an unprotected 2026 first-round swap – to give Young a running mate in the backcourt, but the duo never really thrived as hoped.

While Murray was individually solid — averaging 21.5 points per game across 152 appearances with Atlanta over two seasons — the Hawks floundered as a team. Atlanta went 77-87 in Murray’s two years with the team and made the playoffs just once, losing in the first round to Boston in 2023. The Hawks were eliminated in the first play-in game this spring.

With the Hawks struggling at the midpoint of the 2023/24 season, Murray’s name began to come up in trade conversations ahead of the deadline. The Lakers were among the potential destinations mentioned most frequently, but the Hawks opted to not move him at that time.

For the Pelicans, this trade signals they’re looking to continue to climb the Western Conference standings after making the playoffs this season. Murray will provide added offense for a team that went 2-14 in close games last season, and Christian Clark of NOLA.com (Twitter link) says New Orleans believes he and CJ McCollum can coexist. McCollum thrived in an off-ball role last season, Clark notes.

As Wojnarowski reports (Twitter link), the Pelicans are still trying to come to terms on a middle ground with Brandon Ingram on a contract extension. Ingram’s name has frequently come up in trade rumors this offseason, with the expectation being that he’ll end up on the trade block if he and New Orleans don’t agree to an extension. Multiple reports have indicated that the Pelicans don’t intend to offer the forward another maximum-salary deal as he enters the final year of his current max contract.

Once this deal for Murray is completed, the Pelicans will find themselves just $4.7MM under the luxury tax line for 11 players, tweets cap expert Yossi Gozlan. They’ve never paid the luxury tax before and will need frontcourt depth, with just Zion Williamson, Jeremiah Robinson-Earl, and rookie Yves Missi as options for those spots, so it’s safe to assume more moves are coming, including possibly something involving Ingram.

As for the Hawks, trading Murray is a clear signal they’re willing to hear offers on most of their players. Jake Fischer of Yahoo Sports reported this morning that everyone on the roster except for Jalen Johnson and Zaccharie Risacher are on the table. That list of trade candidates – which features veterans like Clint Capela and De’Andre Hunter – could also include Young, though there was an expectation that Atlanta would likely just trade one of him or Murray — not necessarily both.

Young, like Murray, has been brought up in trade rumors since the start of the offseason and it sounds like the Hawks have at least entertained offers for their three-time All-Star. We’ll likely get more clarity on both Ingram and Young’s situations with the Pelicans and Hawks in the coming days.

Assuming New Orleans and Atlanta complete this deal as reported, with no pieces added and no other teams involved, the Pelicans will be hard-capped at the $178.7MM first apron for the 2024/25, ESPN’s Bobby Marks tweets, since they’re taking back more salary than they’re sending out.

The Pelicans and Hawks will also have to take into account Murray’s trade bonus, which had been the largest in the NBA — it’s worth over $12MM, tweets Marks. It will be spread out across three seasons, starting in 2024/25, increasing the guard’s cap hits by approximately $4MM per season. So instead of counting for $25.27MM toward the cap in 2024/25, he’ll have a cap hit of $29.27MM. The trade bonus bump isn’t applied to his player option year in 2027/28.

While the Pelicans must take on Murray’s larger cap hits, the Hawks will be responsible for paying the bonus, Marks notes. There’s also a possibility that Murray will agree to waive some or all of his trade bonus, which would make salary-matching simpler. If he gets his full bonus, the Pelicans will likely need to add more salary for matching purposes.

After sending AJ Griffin to Houston, the Hawks will save some more money in this deal as they acquire Nance’s expiring $11.21MM deal, Daniels’ rookie scale contract ($6.06MM in 2024/25), and Liddell’s minimum-salary pact ($2.12MM). According to Marks (Twitter link), the team’s salary now projects to be about $5.5MM below the luxury tax line with 14 players under contract.

Atlanta will hold team options on both Daniels and Liddell for the 2025/26 season.

Luke Adams contributed to this story.

OG Anunoby Signs Five-Year Contract With Knicks

July 6th, 2024 at 6:30pm CST by Luke Adams

JULY 6: Anunoby’s new five-year contract is official, the Knicks announced today in a press release (via Twitter).

“Since his arrival in New York, OG has personified the type of player and teammate the organization and city embody,” president of basketball operations Leon Rose said in a statement. “OG’s offensive and defensive presence is undeniable and was a huge part of our success last season. We are thrilled to bring OG back to New York and continue the process of building a team and culture that makes our fans proud.”

Anunoby received a 15% trade kicker in the deal, tweets Fred Katz of The Athletic.

JUNE 26: Free agent forward OG Anunoby intends to sign a five-year contract worth $212.5MM to remain with the Knicks, reports Adrian Wojnarowski of ESPN (Twitter link).

The deal, which can be officially completed once the moratorium period ends on July 6, will feature a fifth-year player option and a trade kicker, according to Wojnarowski. It will be the largest contract in Knicks history, tweets Steve Popper of Newsday.

It’s the second huge move the Knicks have made in the past 24 hours. On Tuesday night, the team reached an agreement with the Nets to acquire Mikal Bridges for a package that includes five future first-round picks and a pick swap. Between Bridges and Anunoby, New York will head into the 2024/25 season armed with two of the league’s best three-and-D players on the wing.

The Knicks acquired Anunoby from Toronto in December for a package headed by Immanuel Quickley and RJ Barrett. The former Raptor made an immediate impact with his new team, helping New York win 12 of his first 14 games before an elbow injury sidelined him for several weeks.

Anunoby had a positive on/off-court rating in each of the 23 regular season games he ended up playing for the Knicks, with the club registering an incredible +21.7 net rating during his 802 minutes on the court. Both the Knicks’ offensive rating (122.6) and defensive rating (100.9) during those minutes would’ve ranked first in the NBA.

In 50 total games for New York and Toronto last season, Anunoby averaged 14.7 points, 4.2 rebounds, 2.1 assists, and 1.4 steals in 34.0 minutes per game, with a shooting line of .489/.382/.753. He made the All-Defensive Second Team in 2023 but didn’t qualify in 2024 due to the NBA’s new 65-game rule.

Injuries have long been a issue for the defensive star, who has missed 29, 34, 15, and 32 games in the past four regular seasons and was unavailable for most of the Eastern Conference semifinals vs. Indiana due to a hamstring ailment. Those health concerns were thought to be a factor that might keep his overall payday this offseason in check, but that certainly won’t be the case.

While Anunoby isn’t signing a maximum-salary deal (which would have been worth a projected $245MM+), his deal with the Knicks will average $42.5MM per season, based on Wojnarowski’s report, which is higher than his projected maximum starting salary ($42.3MM). The five-year, $212.5MM contract will also exceed the maximum offer that any rival suitor could have made to the 26-year-old ($182MM over four years).

According to Ian Begley of SNY.tv (Twitter link), Anunoby might have had max offers on the table from other suitors, but wanted to help build a title contender in New York.

Anunoby had been the No. 5 free agent on our top-50 list. Three players in our top 10 – Anunoby, his former teammate Pascal Siakam, and Kings guard Malik Monk – have now reached tentative agreements to remain with their current teams ahead of the start of the free agent period on Sunday.

Sixers Sign Caleb Martin, Waive Paul Reed

July 6th, 2024 at 6:28pm CST by Tristan Tucker

7:28pm: Martin has officially signed with the Sixers, the team confirmed in a press release.

“Caleb is a battle-tested performer who has elevated his game when his teams have needed it most,” president of basketball operations Daryl Morey said in a statement. “We’re excited for him to bring his skillset and mentality to the 76ers.”

The Sixers also confirmed in a separate release that they’ve waived Reed.

11:45am: Martin’s deal with the Sixers is indeed guaranteed for roughly $32MM and can reach up to $40MM with bonuses, Scotto clarifies (Twitter link).

9:23am: Free agent forward Caleb Martin is planning to sign with the Sixers, according to ESPN’s Adrian Wojnarowski (Twitter link). In order to help make space for the veteran forward, the 76ers are planning to waive Paul Reed‘s non-guaranteed contract, Wojnarowski reports (Twitter link).

In a follow-up story, Wojnarowski writes that Martin will sign a four-year contract that includes more than $32MM in guaranteed money. Meanwhile, Ira Winderman of the South Florida Sun Sentinel reports Martin’s deal is worth $40MM over four years (Twitter link). We’ll see where the final numbers come in, but it’s possible both reports are accurate — for instance, there might be $32MM+ in guarantees, with additional incentives that could push the overall value higher.

Michael Scotto of HoopsHype adds that Martin’s fourth year will be a player option (Twitter link).

Martin, who will bring extensive playoff experience to Philadelphia, could easily fit the roster off the bench or in the starting lineup at power forward. Over the past three seasons with Miami, Martin has averaged 9.6 points and 4.4 rebounds across 195 games (84 starts).

He was especially critical to the Heat’s run to the NBA Finals in 2022/23, when he averaged 19.3 points on 60.2% shooting from the field and 48.9% from deep in the seven-game Eastern Conference Finals against Boston. He nearly came away with the Conference Finals MVP award for that performance.

As Wojnarowski observes, Martin’s 13.6 points per game against the Celtics for his career (playoffs and regular season) are his most against any Eastern Conference opponent. As the Sixers continue to revamp their roster around superstar Joel Embiid, they’re adding a player who has given the reigning NBA champs problems throughout his career.

Philadelphia’s interest in Martin has been reported multiple times since free agency began. However, those reports suggested he was seeking more than what the Sixers were capable of offering.

The Heat also had interest in bringing back the 28-year-old forward, proposing a four-year extension on top of his $7.1MM player option before he decided to turn down that option. According to Anthony Chiang of the Miami Herald (Twitter link), Miami’s original offer would have been for four years and about $58MM, beginning in 2025/26, for a total of $65MM-ish over five years. However, once Martin declined his option, the Heat could no longer make that offer (they were limited to 8% raises in a free agent contract, rather than the bigger second-year jump they could have included in an extension).

Meanwhile, the Sixers are moving on from Reed, their former No. 58 overall draft pick in 2020. Reed has evolved into a serviceable backup in the frontcourt over the past few seasons. In ’23/24, he averaged 7.3 points, 6.0 rebounds, 0.8 steals and 1.0 blocks, appearing in all 82 of Philadelphia’s regular season games.

However, his $7.7MM contract for next season was fully non-guaranteed, so he was always viewed as a candidate to be traded or released as the 76ers looked to maximize their cap room.

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