Transactions Rumors | Hoops Rumors

Magic Sign Kentavious Caldwell-Pope To Three-Year Contract

July 6th, 2024 at 12:40pm CST by Arthur Hill

JULY 6: Caldwell-Pope has officially signed with the Magic, the team confirmed today in a press release (Twitter link).

“We are thrilled to add a player like Kentavious to our roster,” team president Jeff Weltman said in a statement. “He is not only an outstanding defender and an excellent shooter, he brings high character and a championship pedigree to our backcourt. We’re very excited to welcome Kentavious to the Orlando Magic family.”

JUNE 30: The Magic are set to sign free agent wing Kentavious Caldwell-Pope to a three-year contract, reports Jeff Zillgitt of USA Today (Twitter link). The deal will be worth $66MM, according to ESPN’s Adrian Wojnarowski (Twitter link), and it includes a player option for the final season, per Shams Charania of The Athletic (Twitter link).

Caldwell-Pope is one of the top prizes in the 2024 free agent class after playing an important role for the Nuggets over the past two years and helping to spark the team’s 2023 title run. His blend of defense and outside shooting makes him a perfect fit in Orlando.

Denver would have preferred to keep its starting lineup intact, but other financial commitments made it difficult to retain Caldwell-Pope. Bennett Durando of The Denver Post p0ints out (via Twitter) that the $22MM annual salary Caldwell-Pope received from Orlando would have pushed the Nuggets into the second apron if they had given him that much.

However, Tony Jones of The Athletic hears that Denver made a three-year offer at close to the amount that Caldwell-Pope received from the Magic (Twitter link).

Speaking to reporters after the first night of the draft on Wednesday, Nuggets general manager Calvin Booth seemed resigned to the fact that Caldwell-Pope was likely leaving.

“I think when you look at some of the teams that have been good in the past, they have to find a way to replace fourth, fifth starters, sixth men off the bench and still keep rolling,” Booth said. “… I think if (Christian Braun) has to step into the starting lineup, I think we’ll be OK, if KCP doesn’t return.”

Caldwell-Pope is joining a Magic team loaded with young talent that just made its first playoff appearance in four years. He will presumably start alongside Jalen Suggs in the backcourt and will provide a three-point shooting threat that the team has lacked. Kevin O’Connor of the Ringer notes (via Twitter) that Orlando ranked 29th in three-point attempts and 24th in three-point percentage this season. Caldwell-Pope is a career 36.9% shooter from long-distance and connected at 40.6% this year.

The Magic’s agreement with KCP ends the Sixers’ hopes of finding a way to add both Paul George and Caldwell-Pope to a vastly revamped roster.

Kings Re-Sign Malik Monk To Four-Year Contract

July 6th, 2024 at 12:32pm CST by Luke Adams

JULY 6: The Kings have officially re-signed Monk, the team announced today (via Twitter).

According to Anthony Slater of The Athletic (Twitter link), Monk told reporters today that he’s fully recovered from the MCL injury that ended his season. He added that he could’ve taken more money from another team but that Sacramento “felt like home.”

JUNE 20: Free agent guard Malik Monk intends to re-sign with the Kings, according to ESPN’s Adrian Wojnarowski, who reports that Monk has agreed to a four-year contract worth approximately $78MM. The deal will include a fourth-year player option, Wojnarowski adds.

Monk, 26, spent his first four NBA seasons in Charlotte and one year with the Lakers before signing a two-year, $19.4MM contract with the Kings in 2022. He has enjoyed two of the best seasons of his career in Sacramento, emerging as a crucial scorer and play-maker off the bench and earning Sixth Man of the Year votes in both seasons — he finished fifth in 2023 and was the runner-up award for the award in 2024.

Monk set new career highs with 15.4 points and 5.1 assists per game for the Kings in 2023/24. While his three-point percentage has slipped a little since his final year with the Hornets (40.1%) and his one season in Los Angeles (39.1%), he has still knocked down 35.4% of his 5.5 attempts per contest during his time in Sacramento while taking his game to new heights as a ball-handler and play-maker.

Having just spent two years in Sacramento so far, Monk has Early Bird rights this offseason, which means the Kings are limited to giving him a 75% raise on his 2023/24 salary. That works out to a starting salary of $17,405,203 and a four-year total of $77,975,309.

There was a belief that another team might outbid the Kings’ max offer if Monk had made it to the open market. However, he either got early signals that a more lucrative offer wouldn’t be out there or simply decided that he preferred to remain in Sacramento, regardless of the other options that may have been available on June 30.

The NBA’s free agency rules changed this offseason, allowing teams to negotiate with their own free agents beginning one day after the end of the NBA Finals instead of having to wait until June 30. That allowed the Kings to strike an early deal with Monk, though the contract won’t be officially signed until July 6.

Monk is the second free agent to reach a tentative agreement with his team this week, joining Pascal Siakam of the Pacers. Unless one of those deals falls through, two of the top 10 players on our list of 2024’s top 50 free agents are now off the board. Monk came in at No. 10 on that list.

Nets Re-Sign Nic Claxton On Four-Year Deal

July 6th, 2024 at 12:14pm CST by Luke Adams

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

“We are thrilled to have Nic remain in Brooklyn as a core player for our team going forward,” general manager Sean Marks said in a statement. “Nic has made strides in his game in each of his first five seasons, developing into one of the top defenders in the league. With his outstanding work ethic and dedication, we know that Nic will continue to be relentless in his efforts to maximize his talents and expand his game. Off the court, Nic and his family have embraced being a part of the Brooklyn community and we look forward to the impact he will continue to have on our borough.”

According to Michael Scotto of HoopsHype (Twitter link), Claxton’s contract will start at $27.6MM and descend from there. It’ll feature $97MM in guaranteed money, with another $3MM in potential bonuses.

JUNE 26: Free agent center Nic Claxton intends to sign a four-year, $100MM contract to remain with the Nets, sources tell Adrian Wojnarowski of ESPN (Twitter link). According to Shams Charania of The Athletic (Twitter link), the deal will include $96MM in guaranteed money. The signing can be made official after the moratorium period ends on July 6.

Claxton, the 31st overall pick in the 2019 draft, spent his first three seasons in Brooklyn in a modest reserve role before signing a two-year contract worth $17.25MM (plus incentives) in 2022. He has since been the Nets’ full-time starting center, averaging 12.3 points, 9.6 rebounds, 2.3 blocks, and 2.0 assists per game with a .667 FG% in 147 games over the past two seasons (29.8 MPG), earning himself a significantly larger payday.

While a $25MM annual salary for Claxton may raise eyebrows, the 25-year-old has established himself as a real defensive asset — he earned Defensive Player of the Year votes in 2023 and was referred to as a future Defensive Player of the Year by his new head coach, Jordi Fernandez. He’s also arguably the top free agent center on the market this summer, ahead of bigs like Isaiah Hartenstein and Jonas Valanciunas.

Jarrett Allen, who signed a five-year, $100MM deal with the Cavaliers in 2021, was presumably a point of reference for Claxton. At the time Allen received that contract, his NBA résumé was similar to Claxton’s and his $20MM annual average salary represented just under 18% of the 2021/22 cap. A $25MM annual salary for Claxton will come in at nearly the exact same percentage of the ’24/25 cap.

The Pelicans and other teams around the NBA were said to have interest in Claxton as a potential sign-and-trade target or cap-room signing, but a return to Brooklyn has always been the most likely outcome, even after the team seemingly pivoted to a rebuild by agreeing to trade Mikal Bridges. A report earlier today indicated that the Nets were still focused on retaining their starting center.

Claxton had been the No. 8 player on our list of 2024’s top 50 free agents. He’s the fourth player in the top 10 of that list to reach a contract agreement during the new exclusive negotiating window allowing teams to talk to their own free agents between the end of the NBA Finals and June 30.

Warriors Acquire No. 52 Pick Quinten Post From Blazers

July 6th, 2024 at 12:09pm CST by Alex Kirschenbaum

JULY 6: The trade sending Post’s rights from Portland to Golden State in exchange for cash is now official, according to announcements from both the Trail Blazers and Warriors.

JUNE 27: The Warriors have agreed to reacquire the No. 52 pick from the Trail Blazers in exchange for cash considerations, per Jake Fischer of Yahoo Sports and Sean Highkin of The Rose Garden Report (Twitter links).

The Warriors used the pick to select center Quinten Post out of Boston College.

As Highkin notes, Portland shipped out its No. 34 selection the Knicks for three future second-rounders, received cash from the Thunder to move down from No. 40 to 52, and have now moved off the No. 52 pick as well.

After starting the draft Wednesday with four draft selections, a rebuilding Portland club finishes with just one pick, No. 7, which it used on center Donovan Clingan. The Trail Blazers have $46.4MM in salaries committed to veteran centers Deandre Ayton and Robert Williams III.

Sending out cash to obtain the No. 52 selection will hard-cap Golden State at the NBA’s second apron for the 2024/25 season. The No. 52 pick was dealt by the Warriors to the Thunder in a trade for Lindy Waters earlier today, was sent from Oklahoma City to Portland, and has now has landed back in Golden State.

Spurs Trade Furphy To Pacers For Nunez, Cash

July 6th, 2024 at 12:00pm CST by Luke Adams

JULY 6: The trade sending No. 35 pick Furphy to Indiana in exchange for No. 36 pick Nunez and cash is officially complete, the Pacers announced in a press release. The deal couldn’t be completed until the start of the 2024/25 league year because San Antonio had reached its cash received limit for ’23/24.

JUNE 27: The Pacers and Spurs have agreed to swap places in the second round of the draft, with Indiana moving up one spot to No. 35 and San Antonio moving down to No. 36, per Shams Charania of The Athletic (Twitter links).

The Pacers used the No. 35 pick to select Kansas wing Johnny Furphy, while the Spurs picked Spanish point guard Juan Nunez at No. 36.

The Spurs are receiving cash from the Pacers in exchange for moving down one spot, reports Jake Fischer of Yahoo Sports (Twitter link). That means Indiana will be hard-capped at the second tax apron for the 2024/25 league year, since second-apron teams aren’t permitted to send out cash in trades. That shouldn’t have a major impact on the Pacers’ plans, since they were very unlikely to spend that much on next season’s roster anyway.

Furphy, a 6’9″ Australian who was widely viewed as a potential first-round pick, averaged 9.0 points and 4.9 rebounds in 24.1 minutes per game in his first and only college season with the Jayhawks, posting a shooting line of .466/.352/.765. He’s the first player selected in this draft by the Pacers, who sent their first-round pick to Toronto in the Pascal Siakam trade.

As for Nunez, it’s unclear whether or not he’ll join the Spurs for the 2024/25 season, since he has widely been viewed as a draft-and-stash candidate.

Pistons Sign Ron Holland To Rookie Contract

July 6th, 2024 at 11:49am CST by Luke Adams

The Pistons have signed No. 5 overall pick Ron Holland to his rookie scale contract, according to the NBA’s official transaction log.

[RELATED: 2024 NBA Draft Pick Signings]

Holland had an up-and-down season for the G League Ignite in 2023/24, filling up the stat sheets with 19.5 points, 6.7 rebounds, 3.1 assists, and 2.4 steals per game in 29 outings, but struggling with both his outside shot (.237 3PT%) and turnovers (3.2 per game) for the last-place team.

Viewed last fall as a potential contender for the No. 1 overall pick, Holland saw his stock dip a little and was considered a candidate to fall out of the top 10 on draft night. However, the Pistons – who were linked more frequently to his Ignite teammate Matas Buzelis in the weeks leading up to the draft – made Holland their first pick in the Trajan Langdon era.

If, as expected, he received the maximum rookie contract for the No. 5 pick, Holland will make approximately $8.25MM as a rookie and about $37.46MM across four years, assuming his third- and fourth-year team options are eventually exercised.

The Pistons also officially signed undrafted rookie Daniss Jenkins to a two-way contract, per the NBA’s transaction log. Jenkins’ agreement with Detroit was reported last Wednesday, shortly after the second round of the draft concluded.

Mavs Trade Hardaway, Second-Round Picks To Pistons For Grimes

July 6th, 2024 at 11:44am CST by Luke Adams

JULY 6: The Mavericks and Pistons have issued press releases confirming that their trade is official and that the details reported below are accurate.

JUNE 28: The Mavericks and Pistons are in agreement on a trade that will send veteran wing Tim Hardaway Jr. and three second-round picks to Detroit in exchange for swingman Quentin Grimes, reports Adrian Wojnarowski of ESPN (Twitter link).

The three draft assets will be Toronto’s 2025 second-round pick and a pair of 2028 second-rounders, Wojnarowski adds (via Twitter). Dallas has previously traded away its own 2028 second-rounder, but controls Miami’s pick and the least favorable of the Clippers’ and Hornets’ selections for that year, so those figure to be the ones headed to the Pistons.

This deal was first mentioned as a possibility by Marc Stein on Tuesday.

By moving off of Hardaway’s $16.2MM expiring contract and taking back Grimes (who will make about $4.3MM next season), Dallas will create upwards of $15MM in breathing room below the first tax apron, tweets cap expert Yossi Gozlan, putting the club in a position to use the full non-taxpayer mid-level exception (projected to be worth about $12.9MM).

Besides creating financial flexibility, the Mavs will also receive an intriguing young three-and-D player in Grimes, who showed promise in 2022/23 by averaging 11.3 points, 3.2 rebounds, and 2.1 assists in 29.9 minutes per game (71 games), with a .468/.386/.796 shooting line. He saw his minutes cut back in New York last season, and a knee injury limited him to just six games after he was acquired by Detroit in February.

Grimes, who will be eligible for a rookie scale extension this offseason as he enters the final year of his rookie contract, also drew trade interest from the Heat and Hawks, per Michael Scotto of HoopsHype (Twitter link).

Meanwhile, new Pistons president of basketball operations Trajan Langdon had spoken openly about his club’s willingness to take on unwanted contracts if they’re attached to more valuable assets. While the previous front office regime appeared to be viewing Grimes as a potential keeper, Langdon clearly prioritized the draft picks he’ll receive in this swap.

Hardaway’s value as a player also shouldn’t be overlooked. He’s coming off a season in which he averaged 14.4 points, 3.2 rebounds, and 1.8 assists in 26.8 minutes per game across 79 appearances, with a shooting line of .402/.353/.852. After he played a limited role in the playoffs though, there had been a sense that his days with Dallas were numbered.

It’s unclear if the Pistons intend to hang onto Hardaway heading into the 2024/25 season, but the team reportedly has had interest in adding veterans and shooting this summer, making THJ a potential fit. He’s a career 36.0% three-point shooter.

Magic, Tristan Da Silva Finalize Rookie Scale Contract

July 6th, 2024 at 11:36am CST by Tristan Tucker

The Magic have officially signed 2024 No. 18 overall pick Tristan Da Silva to his rookie scale contract, according to a team release (Twitter link).

A four-year player at Colorado, Da Silva averaged 11.7 points and 3.8 rebounds while shooting 49.3% from the field and 38.6% from deep across 124 career collegiate games. In his senior season, he averaged 16.0 points and shot 39.5% from deep as a 6’8″ forward.

Da Silva has a chance to immediately contribute as a rookie even on a competitive team like the Magic, adding much-needed spacing to Orlando’s bench.

As the No. 18 overall pick in the draft, Da Silva will have a first-year salary of about $3.63MM and will earn $17.57MM over four years if he’s signed to the maximum 120% of the rookie scale. That hasn’t been confirmed, but it’s rare for a player to take less than 120%.

Wizards Sign First-Rounders Alex Sarr, Kyshawn George

July 6th, 2024 at 11:33am CST by Luke Adams

The Wizards have signed a pair of their first-round picks, locking up big man Alex Sarr and swingman Kyshawn George to their rookie scale contracts, per the NBA’s official transaction log.

Sarr, 19, spent the 2023/24 season in Australia’s National Basketball League, where he averaged 9.4 points, 4.3 rebounds and 1.5 blocks per game with the Perth Wildcats. The 7’1″ center, who has elite upside as a rim protector and defensive presence, was considered a strong candidate to be the first overall pick in the 2024 draft but ultimately ended up going to the Wizards at No. 2. He’ll be a cornerstone for Washington to build around for years to come.

George, the No. 24 overall pick out of Miami, will be another one of the Wizards’ long-term building blocks going forward. A 6’8″ wing, George started 16 of the 31 games he played for Miami in his freshman season in 2023/24. While his averages of 7.6 points, 3.0 rebounds, and 2.2 assists in 23.0 minutes per contest were relatively modest, the youngster can handle the ball and has displayed a promising outside shot, having knocked down 40.8% of 4.2 three-pointers per game.

The Wizards actually made three first-round selections in last week’s draft, but don’t yet officially have the third one – No. 14 pick Carlton Carrington – on their roster, since that pick was part of the Deni Avdija/Malcolm Brogdon trade that still needs to be formally completed. That should happen soon now that the moratorium period has ended, putting Carrington on track to ink his rookie contract too.

Assuming they sign for the maximum allowable 120% of the standard rookie scale amount, Sarr will get a four-year deal worth about $51MM ($11.25MM in year one), while George’s four-year contract will be worth approximately $14.34MM ($2.83MM as a rookie).

Hawks Sign No. 1 Pick Zaccharie Risacher To Rookie Contract

July 6th, 2024 at 11:32am CST by Luke Adams

Zaccharie Risacher, the No. 1 overall pick in the 2024 draft, has officially signed his rookie scale contract with the Hawks, according to the NBA’s transaction log.

A 19-year-old French forward who was born in Spain, Risacher began his professional career with ASVEL Basket in France in 2021. He spent the past season on loan to another French team, JL Bourg, where he showed promise as a shooter, ball-handler, and versatile defender.

The 6’9″ forward averaged 13.1 points, 3.6 rebounds, and 1.1 assists in 24.0 minutes per game across 17 EuroCup appearances in 2023/24, with a .566/.561/.659 shooting line. In 32 contests in France’s LNB Elite, he averaged 10.1 PPG, 3.8 RPG, and 0.9 APG on .439/.352/.740 shooting.

As our breakdown of rookie scale salaries shows, Risacher will almost certainly earn a first-year salary of $12.57MM, with a four-year total of $57MM on his rookie deal. Those figures are equivalent to 120% of the standard rookie scale amount, which is what nearly every first-rounder receives.

Risacher is expected to make his Hawks debut at the Las Vegas Summer League, which tips off next week.