Transactions Rumors | Hoops Rumors

Cavaliers Acquire Lauri Markkanen In Three-Team Sign-And-Trade

August 28th, 2021 at 5:17pm CST by Arthur Hill

AUGUST 28: The trade is official, the Cavaliers announced in a press release.

“We are extremely fortunate as an organization to be in a position to acquire another young and talented player with the skill-set of Lauri Markkanen,” said Cleveland general manager Koby Altman. “He has the proven ability to play multiple positions and stretch the floor from the perimeter and, at 24-years-old, we believe his best basketball is in front of him. We are committed to establishing a winning culture in Cleveland that can be sustained over time and Lauri helps elevate that description.”

AUGUST 27: The Cavaliers will acquire Lauri Markkanen from the Bulls in a sign-and-trade deal that also includes the Trail Blazers, tweets ESPN’s Adrian Wojnarowski.

Portland will receive Larry Nance Jr. in the deal, according to Wojnarowski, and will send Derrick Jones Jr. and a 2022 protected first-round pick to Chicago. The Bulls will also get a Nuggets 2023 second-rounder from Cleveland.

The trade ends a long wait for Markkanen, who had been looking for a new team since free agency began on August 2. He will receive a four-year, $67MM contract from the Cavs, Wojnarowski reports (Twitter link), and the Bulls get the first-round pick they were seeking in return for the 24-year-old restricted free agent. That pick from Portland will be lottery protected through 2028, Woj adds (via Twitter), and will become a second-round selection if it’s not conveyed before then.

Markkanen’s four-year contract is valued at $18MM in the final season, but only carries a $6MM guarantee, sources tell Chris Fedor of Cleveland.com (Twitter link).

The deal leaves the Cavs $4.7MM under the luxury tax with 14 players under contract, tweets Bobby Marks of ESPN. The Blazers are $1.3MM above the tax threshold with 13 players signed and will likely be $3MM over once they add a league-mandated 14th player. The Bulls are $6.4MM under the tax and $11.8MM below the hard cap with 13 guaranteed contracts, Marks adds (Twitter link).

Markkanen’s outgoing salary only counts as $7.79MM, rather than the full amount, due to base year compensation rules, Marks notes (via Twitter). Chicago had hoped to get a player in the $9-10MM range, which it did by acquiring Jones. Markkenen’s incoming salary from the Cavs’ perspective will be the full amount of $15.58MM.

Markkanen fell out of Chicago’s starting lineup last season for the first time in his four years in the NBA and played a career-low 25.8 minutes per night. His averages of 13.6 points, 5.3 rebounds and 0.9 assists per game were all the worst of his career.

He had been hoping for a “fresh start” and will get it in Cleveland, where he will likely be the new starting power forward. The trade allows the Cavs to solidify a position of need and gives rookie big man Evan Mobley more time to develop.

Nance, 28, is under contract for two more year at $10.69MM and $9.67MM. He averaged 9.3 points and 6.7 rebounds per game last season and will bring a defensive presence to Portland’s front line. New coach Chauncey Billups has spoken repeatedly about the need to upgrade the team’s defense.

Jones, 24, has an expiring $9.72MM contract for the upcoming season. He averaged 6.8 points and 3.5 rebounds in 58 games last season and adds another versatile forward to Chicago’s rotation.

Rajon Rondo Bought Out By Grizzlies, Likely To Join Lakers

August 28th, 2021 at 3:45pm CST by Eli Cohen

Rajon Rondo and the Grizzlies have agreed to a contract buyout, reports Shams Charania of The Athletic (via Twitter). Rondo was traded to Memphis in a three-way deal that sent Eric Bledsoe to the Clippers.

According to Charania (via Twitter), the 35-year-old two-time NBA champion could be on his way back to Los Angeles, though not to the Clippers. Charania reports that the Lakers are the frontrunner to sign Rondo. If the point guard does return to the Lakers, it would be his third season with the team — he won a title with the team in the 2020 bubble.

ESPN’s Adrian Wojnarowski (Twitter link) confirms the Lakers’ interest. Rondo will clear waivers on Monday, and Wojnarowski says he will likely be signed into one of the Lakers’ final roster spots.

While the Lakers did an impressive job filling out their roster following the trade for Russell Westbrook, the backup point guard spot was one notable hole. Rondo was unable to replicate his success with the Lakers in this year’s playoffs run with the Clippers, but should provide a solid, competent play-maker off the bench, especially as young guards Malik Monk and Kendrick Nunn are both more likely to see time at the shooting guard spot.

Bobby Marks of ESPN adds (via Twitter) that Rondo was never asked to report to the Grizzlies or take a physical, calling it as sure a sign as you can get that a subsequent move would be made. In a separate tweet, he says that the same is true for Spanish forward Juan Hernangomez.

Rockets Sign Armoni Brooks To Exhibit 10 Contract

August 27th, 2021 at 5:38pm CST by JD Shaw

5:38pm: The signing is official, according to a team press release.

12:41pm: The Rockets are signing guard Armoni Brooks to an Exhibit 10 contract, a source confirmed to Hoops Rumors. News of the agreement was first reported by Jonathan Feigen of the Houston Chronicle.

Brooks, 23, will have the opportunity to make the team’s regular-season roster in training camp this fall. He spent 20 games with the club at the end of last season, averaging 11.2 points and 3.4 rebounds per game.

The Rockets have one final spot for camp and could consider adding Anthony Lamb, who signed a two-way contract with the team last March. Both Brooks and Lamb played summer league with Houston in Las Vegas after receiving two-way qualifying offers.

Should Brooks not make the regular-season roster, he’d be eligible to receive a bonus up to $50K if he spends at least 60 days with Houston’s G League affiliate.

Mavericks Waive Nate Hinton

August 27th, 2021 at 4:32pm CST by Dana Gauruder

4:32pm: Dallas has officially waived Hinton, the team’s PR department tweets.

4:15pm: The Mavericks are waiving guard Nate Hinton, Tim Cato of The Athletic tweets. Hinton was re-signed to a new two-way contract early this month.

Hinton, who finished the 2020/21 season on a two-way deal with the Mavs, received a qualifying offer equivalent to another one-year, two-way contract, so he likely simply accepted that offer at the time.

Undrafted out of Houston in 2020, Hinton appeared in 21 games for the team as a rookie, though he saw very limited minutes. He averaged 2.0 PPG in 4.4 minutes per contest, but saw more action with the G League’s Santa Cruz Warriors in the Orlando bubble season, posting averages of 10.6 PPG and 7.1 RPG in 10 games (23.0 MPG).

Rookie forward Eugene Omoruyi occupies the other two-way slot for Dallas.

Sixers Waive Anthony Tolliver

August 27th, 2021 at 2:38pm CST by JD Shaw

The Sixers have waived veteran big man Anthony Tolliver, the team announced on Friday (Twitter link). Tolliver’s $2.69MM contract would’ve become fully guaranteed if he wasn’t released today.

The move opens up a roster spot for Philadelphia, which now has 15 players officially under contract (14 on standard contracts and one on a two-way). The team will also sign Grant Riller to a two-way contract and Haywood Highsmith to an Exhibit 10 deal, leaving three spots available on the 20-man offseason roster.

In addition, Philadelphia has yet to sign second-round draft pick Charles Bassey, who was selected No. 53 overall by the team last month.

Assuming he clears waivers on Sunday, Tolliver will reach free agency after concluding his 13th NBA season. The 36-year-old signed two ten-day contracts and a rest-of-season deal with the Sixers in 2020/21, appearing in a total of nine contests.

Knicks Sign Julius Randle To Four-Year Extension

August 27th, 2021 at 8:44am CST by Luke Adams

AUGUST 27: Randle’s extension is official, the Knicks announced (via Twitter).

“Julius Randle embodies everything you want your star player and leader to be about, and we couldn’t be happier about the long-term commitment we made to each other,” said team president Leon Rose. “His hard work and dedication to his craft are second to none and what he did last season won’t be forgotten by New Yorkers any time soon. We can’t wait to see what’s next for him.”

AUGUST 5: The Knicks have agreed to sign forward Julius Randle to a contract extension, tacking on four years to the one season left on his existing contract, agents Aaron Mintz and Steven Heumann tell ESPN’s Adrian Wojnarowski. The deal will include a player option for 2025/26, per Wojnarowski.

While Wojnarowski reports that the four-year extension will be worth $117MM, that figure includes some incentives — the extension will have a base value of about $106.4MM and could max out at just over $122MM if Randle earns all of his bonuses in every season of the deal (which is very unlikely). It’s the most the Knicks could have offered Randle this season.

As Bobby Marks of ESPN notes (via Twitter), the incentives in the contract are related to making the playoffs, earning an All-Star nod, and making the All-Defense team. Randle earned the first two in 2020/21.

Randle, 26, had his best year as a pro this past season, establishing new career bests in PPG (24.1), RPG (10.2), APG (6.0), and 3PT% (.411), among several other categories.

The former seventh overall pick appeared in all but one regular season game, averaging an NBA-high 37.6 minutes per contest and helping to lead the Knicks to a No. 4 seed in the East and their first playoff berth since 2013. He was named Most Improved Player for the 2020/21 season and made the All-NBA Second Team.

Because Randle would be eligible for a longer, more lucrative contract if he waited until 2022 to reach free agency, there was some uncertainty about how willing he’d be to discuss an extension with the Knicks this summer. However, Wojnarowski writes that the former Laker and Pelican was eager to commit long-term to a team and city “he has come to adore.”

Randle also wanted to give the Knicks some financial flexibility rather than pushing for a higher salary in a year, per Marc Berman of The New York Post and Ian Begley of SNY.tv (Twitter links). Of course, locking in a new deal now gives him some security in the event of an injury or regression next season.

It has been a busy week for the Knicks, who agreed to multiyear deals with free agents Evan Fournier, Alec Burks, Nerlens Noel, and Derrick Rose. All of those players are signing either three- or four-year contracts with team options in the final season. The club also intends to sign Kemba Walker, who should hit waivers soon after reaching a buyout agreement with the Thunder.

Randle’s deal represents one of several lucrative contract extensions agreed to around the NBA this week. Stephen Curry (Warriors), Trae Young (Hawks), Jimmy Butler (Heat), and Shai Gilgeous-Alexander (Thunder) have all agreed to long-term deals worth well into the nine figures, while Luka Doncic (Mavericks) is set to finalize an extension following the Olympics.

Suns Waive Ty-Shon Alexander

August 26th, 2021 at 7:43pm CST by Dana Gauruder

The Suns have waived Ty-Shon Alexander, Duane Rankin of the Arizona Republic tweets.

Alexander, 23, played on a two-way contract last season. He went undrafted out of Creighton in 2020.

Alexander appeared in 15 regular-season games but he only averaged 3.1 MPG in those outings and scored a total of nine points. The 6’3” guard made a cameo appearance in Game 3 of the Finals against Milwaukee and also appeared in 15 G League games, averaging 9.3 PPG and 1.9 APG in 23.7 MPG.

In his last college season, he averaged 16.9 PPG, 5.0 RPG, and 2.3 APG on .431/.399/.860 shooting.

Having parted ways with Alexander, the Suns now have both of their two-ways slots open. The team is carrying just 14 total players, all on guaranteed contracts.

Hawks’ Skylar Mays Signs Two-Way Qualifying Offer

August 26th, 2021 at 11:38am CST by Luke Adams

Restricted free agent shooting guard Skylar Mays has signed his qualifying offer to return to the Hawks, reports Chris Kirschner of The Athletic (via Twitter). Since Mays spent his rookie season in 2020/21 on a two-way deal, his QO was another two-way contract, with a $50K partial guarantee.

The 50th overall pick in the 2020 draft out of LSU, Mays appeared in 33 games for the Hawks last season, averaging 3.8 PPG, 1.1 RPG, and 0.9 APG on .449/.350/.880 shooting in 8.2 minutes per contest.

Atlanta signed 2021 second-round pick Sharife Cooper to a two-way contract earlier this month, but the team’s other two-way slot had been open, so Mays will fill it, at least for the time being. Given that his new deal only includes a small guarantee of $50K, the Hawks aren’t necessarily locked into Mays for the coming season, but he has an inside track to a spot on the 17-man regular season roster for now.

The Hawks now have 14 players on guaranteed contracts, two on Exhibit 10 deals, and a pair on two-way pacts, giving them two openings on their 20-man offseason roster.

Spurs Sign Bryn Forbes

August 25th, 2021 at 2:29pm CST by Alex Kirschenbaum

AUGUST 25: Three weeks after agreeing to a deal with the Spurs, Forbes has formally signed his new contract, he told Jeff McDonald of The San Antonio Express-News (Twitter link).

“It was a great year (in Milwaukee),” Forbes told McDonald. “But I’m happy to be home.”

The terms of Forbes’ contract still aren’t known, but they should surface soon now that the deal is done. The Spurs have used up their cap space, so they may use the room exception to pay Forbes more than the minimum.

AUGUST 4: Free agent shooting guard Bryn Forbes is expected to return for a second stint in San Antonio. Per Shams Charania of The Athletic (Twitter link), the Spurs have agreed to ink old friend Forbes, hot off a championship run with the Bucks, to a new contract. The terms of the agreement have yet to be disclosed.

After going undrafted out of Michigan State in 2016, Forbes impressed San Antonio during a Summer League run with the club.

He then signed on with the Spurs for the start of the 2016/17 season and had been with the team for his entire NBA career, until departing for Milwaukee on a two-year, $4.79MM deal in free agency during the 2020 offseason.

Earlier this summer, Forbes declined the player option on the second year of his Milwaukee deal after proving himself as a solid offensive contributor during the Bucks’ 2021 postseason run.

Forbes, 28, appeared in 70 games with the Bucks during the abbreviated 72-game 2020/21 NBA season. In 19.3 MPG, the 6’2″ wing averaged 10.0 PPG and 1.6 RPG, with a stellar shooting line of .473/.452/.770.

The Spurs have been active in free agency thus far. The team has also added Doug McDermott, Zach Collins and NBL big man Jock Londale in free agency. San Antonio also moved 2020/21 leading scorer DeMar DeRozan in a sign-and-trade deal that will net them future draft equity, plus veteran forwards Thaddeus Young and Al-Farouq Aminu.

Photo courtesy of USA Today Sports Images.

Grizzlies Waive Sean McDermott To Complete Trade With Wolves

August 25th, 2021 at 1:44pm CST by Luke Adams

In order to create room on their 20-man roster to accommodate a one-for-two trade with the Timberwolves, the Grizzlies have waived wing Sean McDermott, the team announced today in a press release.

McDermott, who went undrafted out of Butler in 2020, quickly caught on with the Grizzlies, signing a two-way deal with the team last November. He appeared in 18 NBA games during his rookie season, averaging 2.2 PPG and 1.1 RPG in limited action (8.8 MPG).

Because McDermott’s two-way contract covered two seasons, he had remained under team control to start the 2021/22 league year, but it looks like he’s no longer in the team’s plans for the time being.

Memphis now has an open two-way contract slot, with Killian Tillie occupying the other one. Yves Pons, who is on an Exhibit 10 contract, looks like a candidate to claim the second two-way deal before the regular season, notes Chris Herrington of The Daily Memphian (Twitter link).

Besides Tillie and Pons, the Grizzlies’ other 18 players are on guaranteed contracts. That includes Juan Hernangomez and Jarrett Culver, who were acquired from Minnesota in exchange for Patrick Beverley in the trade that was completed today, and Rajon Rondo, whom Herrington doesn’t expect to still be on the team when the season begins (Twitter link).