Transactions Rumors | Hoops Rumors

Knicks Sign Tyler Kolek To Four-Year Contract

July 4th, 2024 at 2:19pm CST by Rory Maher

The Knicks have signed rookie guard Tyler Kolek to a four-year, $9.06MM contract, a league source tells Fred Katz of The Athletic (Twitter link).

The transaction was completed using the second-round pick exception. Kolek will earn the maximum possible salary over the first three years, which are guaranteed, per Katz. The fourth year is a team option.

New York acquired the rights to Kolek, the 34th overall pick in last month’s draft, by trading three future second-rounders to Portland.

A 23-year-old point guard, Kolek had an impressive senior season for Marquette in 2023/24, averaging 15.3 PPG, 4.9 RPG, 7.7 APG and 1.2 SPG on .496/.388/.851 shooting in 31 games (33.0 MPG).

Sixers Sign Jared McCain To Rookie Scale Contract

July 4th, 2024 at 2:15pm CST by Luke Adams

The Sixers have officially signed first-round pick Jared McCain to his first NBA contract, the team announced today in a press release.

The 16th overall pick last Wednesday, McCain declared for the draft as an early entrant following his freshman year at Duke. In 36 games (all starts), he averaged 14.3 points, 5.0 rebounds, 1.9 assists, and 1.1 steals in 31.6 minutes per contest, with a shooting line of .462/.414/.885.

Assuming McCain signed for the maximum allowable 120% of the rookie scale amount for the No. 16 pick, he’ll earn about $4.02MM as a rookie and $19.45MM across a total of four seasons, assuming his third- and fourth-year options are eventually exercised.

Signing McCain before completing their other roster moves doesn’t affect Philadelphia’s cap room, since the team already had to account for a cap hold for the 6’3″ guard equivalent to 120% of his rookie scale amount.

Suns Sign Oso Ighodaro To Four-Year Contract

July 4th, 2024 at 1:58pm CST by Luke Adams

The Suns have signed second-round pick Oso Ighodaro to a four-year contract using the second-round exception, according to ESPN’s Bobby Marks, who reports (via Twitter) that the deal is worth approximately $7.9MM.

According to Michael Scotto of HoopsHype (Twitter link), the contract will be fully guaranteed for the first two seasons, with a partial guarantee in year three and a team option for year four. The $7.9MM total suggests it will be worth the minimum across all four seasons.

The No. 40 overall pick last week, Ighodaro was involved in a series of draft-night trades that ultimately saw him land in Phoenix. The Marquette forward, who spent four college seasons with the Golden Eagles, averaged 13.4 points, 6.9 rebounds, 2.9 assists, 1.3 blocks, and 1.1 steals in 32.5 minutes per game in 2023/24, starting all 36 games he played and making 57.6% of his shot attempts from the floor.

While the Suns are on track to pay a significant luxury tax bill next year, Ighodaro’s contract will create some savings for the team, since he’ll only count for $1,157,153 for cap and tax purposes. A veteran’s minimum-salary contract in that roster spot would have come in at $2,087,519, increasing Phoenix’s tax bill by a few extra million dollars.

Warriors To Acquire Buddy Hield In Sign-And-Trade With Sixers

July 4th, 2024 at 1:55pm CST by Rory Maher

1:55pm: The Hield acquisition will indeed be part of a five-team mega-trade involving Golden State, Dallas, Charlotte, Minnesota and Philadelphia, sources tell Anthony Slater of The Athletic (Twitter link).

1:19pm: The Warriors are acquiring Buddy Hield in a sign-and-trade with the Sixers, according to Shams Charania of The Athletic and Stadium (Twitter link).

Golden State will be sending Philadelphia a 2031 second-round pick (via Dallas) as part of the transaction, sources tell Charania (Twitter link).

The second-rounder being sent to the 76ers is being acquired as part of the Klay Thompson sign-and-trade with the Mavs. That suggests the series of moves could still be folded together into one multi-team mega-deal.

According to ESPN’s Adrian Wojnarowski (Twitter link), Hield will receive a four-year contract that will pay him a guaranteed $18MM over the first two seasons. The deal will reportedly feature an additional $3MM in guaranteed money, with a fourth-year player option that’s not fully guaranteed. It will start at $8.7MM in year one, per The Athletic, which suggests the total value will be over $37MM, assuming 5% annual raises.

Charania reported on Tuesday night that the Warriors were pursuing Hield, and now a sign-and-trade agreement has come to fruition.

In 2023/24, Hield appeared in a league-high 84 regular season games, exceeding the typical 82-game limit as a result of a midseason trade that sent him from Indiana to Philadelphia. He averaged 12.1 points, 3.2 rebounds, and 2.8 assists in 25.7 minutes per game for the Pacers and Sixers, with a .386 3PT%.

Hield, 31, has never been known for his defense, but he’s a top-tier floor spacer, with a career mark of 40.0% from long distance (on high volume). He ranked No. 24 on our list of 2024’s top 50 free agents.

The Warriors have been very busy this offseason, agreeing to sign De’Anthony Melton to a one-year deal and to acquire both Kyle Anderson and Hield in the wake of Thompson’s departure.

Hield is currently competing for his home country, the Bahamas, in an Olympic qualifying tournament in Spain. If the team wins the tournament (it has already advanced to the semifinal), the Bahamas would advance to the 2024 Olympics in Paris, which begin at the end of July.

Cap expert Yossi Gozlan projects the Warriors, who are hard-capped at the first tax apron, to be right near that salary threshold ($178.1MM) with 14 players under contract (Twitter link).

The Sixers won’t create a trade exception as part of the transaction, since they’re operating under the cap.

Knicks Sign First-Rounder Dadiet For Less Than Standard Rookie Scale Amount

July 4th, 2024 at 1:42pm CST by Luke Adams

1:42pm: Katz provides some additional details on Dadiet’s contract, tweeting that only the first year will be at 80% of the rookie scale amount, with years two through four jumping to 120%.

All told then, Dadiet’s deal will be worth $13,012,968 (instead of $13,917,008) over four years.

12:33pm: The Knicks have finalized a buyout with Ratiopharm Ulm, Pacome Dadiet‘s team in Germany, clearing the way for them to sign their first-round pick to his rookie scale contract, reports Michael Scotto of HoopsHype (Twitter link).

Interestingly, according to Fred Katz of The Athletic (Twitter link), the Knicks have signed Dadiet to a contract that will be worth 80% of the standard rookie scale amount for the No. 25 pick, instead of the usual 120%. That’s the minimum allowed for a first-round pick.

As our breakdown of rookie scale salaries shows, a “maximum” rookie scale contract for Dadiet would’ve started at $2,712,120. However, 80% of his rookie scale amount will work out to a first-year salary of $1,808,080. As Katz notes, that’ll give the team about $904K in extra spending flexibility below its second-apron hard cap for 2024/25.

An NBA team is permitted to pay up to $850K to a player’s international team as part of a buyout agreement in 2024/25 without that amount counting against its cap. The NBA club would be permitted to pay more than that, but any amount above $850K would count against the player’s cap hit. For instance, a $1MM buyout for a player who will earn a $2MM salary would result in a $2,150,000 cap hit.

League sources tell Ian Begley of SNY.tv (Twitter link) that the Knicks, not coincidentally, paid exactly $850K to Ratiopharm Ulm, meaning Dadiet’s cap hit will be equivalent to his salary and won’t include any portion of his buyout.

This is likely an arrangement the Knicks discussed with Dadiet and his representatives before selecting him rather than springing a lower offer on him after drafting him.

The 18-year-old French wing averaged 6.4 points and 1.6 rebounds in 14.9 minutes per game across 18 EuroCup appearances for Ulm last season.

Raptors Signing Jamal Shead To Three-Year Deal

July 4th, 2024 at 1:34pm CST by Luke Adams

The Raptors are signing second-round pick Jamal Shead to a three-year, $6.11MM contract, sources tell Shams Charania of The Athletic (Twitter link). That’s the maximum amount permitted under the second-round pick exception for a three-year deal.

Shead, who turned 22 in June, spent all four of his college seasons at the University of Houston, serving as the Cougars’ starting point guard for the past three seasons. In 2023/24, he averaged 12.9 points, 6.3 assists, 3.7 rebounds, and 2.2 steals in 31.1 minutes per game (37 contests).

Shead’s shooting line last season was a modest .409/.309/.779, which is about in line with his career college numbers. However, he’s considered a strong defender, having won this year’s Big 12 Defensive Player of the Year award.

The Raptors selected Shead using the No. 45 pick they acquired in their trade with the Kings last week.

Reporting on draft night indicated that Shead received interest from more than a dozen teams hoping to sign him to a two-way contract, but was assured of getting a guaranteed salary from Toronto. His contract – which begins at $1.86MM – will be guaranteed for the first two seasons, per Charania, with a third-year team option. It’s the same deal that fellow second-rounder Jonathan Mogbo is signing with the Raptors.

Heat Sign Alec Burks To One-Year Deal

July 4th, 2024 at 1:11pm CST by Luke Adams

July 4: Burks’ minimum-salary contract is now official, the Heat announced in a press release.

July 3: The Heat have agreed to terms on a one-year contract with free agent guard Alec Burks, reports Adrian Wojnarowski of ESPN (Twitter link). It’ll be a minimum-salary deal, confirms Anthony Chiang of The Miami Herald (Twitter link).

Burks, who will turn 33 later this month, is a 13-year veteran who has played for seven teams since entering the NBA in 2011, including both the Pistons and the Knicks in 2023/24.

The former 12th overall pick had a solid first half in Detroit, averaging 12.6 points per game with a .401 3PT% for the league’s worst teams. However, he struggled after being sent to New York in a deadline deal, scoring just 6.5 PPG and making 30.1% of his three-pointers in 23 regular season games down the stretch.

Burks has a solid track record as a scorer and shooter (.383 career 3PT%) and finished the year strong this spring, reclaiming a spot in a banged-up Knicks’ rotation during the Eastern Conference semifinals. In New York’s last five playoff games vs. the Pacers, he averaged 17.8 PPG on .510/.429/.844 shooting.

There should be minutes available in Miami for Burks, who will be tasked with helping to fill the holes created in the rotation if Caleb Martin and Haywood Highsmith don’t return to the team.

Burks projects to be the 13th player on a standard guaranteed contract with the Heat. That total doesn’t include Orlando Robinson, whose 2024/25 salary is non-guaranteed and whose hold on a 15-man roster spot appears tenuous.

Lakers Sign Blake Hinson, Armel Traore To Two-Way Deals

July 4th, 2024 at 1:01pm CST by Dana Gauruder

July 4: The two-way contracts for Hinson and Traore are official, per NBA.com’s transactions log. Hinson received a two-year deal, tweets Michael Scotto of HoopsHype.

June 27: The Lakers have reached two-way contract agreements with Pittsburgh’s Blake Hinson and French forward Armel Traore, Shams Charania of The Athletic and Stadium reports (Twitter links). Both players went undrafted.

Hinson, a 6’8” wing, played two seasons with the Panthers after a two-season stay at Ole Miss. He also spent some time at Iowa State but didn’t play there.

Hinson, 24, put up impressive stats in his senior year, averaging 18.5 points and 4.4 rebounds per game. He shot 45.4% from the field and 42.1% on three-point attempts. The three-point shooting came at a high volume — he averaged 7.9 attempts per game.

Traore, 21, played for Ada Blois in the LNB Pro A league last season. He averaged 10.8 points, 7.3 rebounds and 1.5 assists. He posted 16 points, six rebounds, two steals and a block in a game against the G League Ignite last summer. Traore profiles as a potential three-and-D wing.

Sixers Sign Justin Edwards To Two-Way Contract

July 4th, 2024 at 12:54pm CST by Rory Maher

July 4: Edwards’ two-way deal is now official, the Sixers announced in a press release.

June 27: The Sixers are signing Kentucky wing Justin Edwards to a two-way contract, sources tell Shams Charania of The Athletic (Twitter link).

A former top high school recruit, Philadelphia native Edwards had an uneven freshman season for the Wildcats, averaging 8.8 PPG, 3.4 RPG and 0.9 SPG on .486/.365/.776 shooting in 32 games, including 30 starts (21.4 MPG).

Edwards was the top undrafted player on the open market following the 2024 draft, according to ESPN’s best available list. He had a second-round grade from ESPN draft expert Jonathan Givony (No. 39).

Blazers’ Donovan Clingan Signs Rookie Scale Contract

July 4th, 2024 at 12:32pm CST by Rory Maher

Center Donovan Clingan, the No. 7 overall pick of last month’s draft, has officially signed his rookie scale contract, the Trail Blazers announced in a press release.

Assuming he signed for 120% of the rookie scale, which most first-rounders do, Clingan will earn $6,836,400 in 2024/25 and $31,085,018 over the next four seasons if his team options for years three and four are exercised.

Clingan, 20, is a native of Bristol, Connecticut. He won back-to-back national championships with UConn in his two college seasons. He averaged 13.0 PPG, 7.4 RPG and 2.5 BPG in 35 games last season for the Huskies (22.5 MPG).