Transactions

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).

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.

Load More Posts