Transactions Rumors | Hoops Rumors

Ryan Dunn Signs Rookie Scale Contract With Suns

July 2nd, 2024 at 5:18pm CST by Dana Gauruder

Ryan Dunn has signed his rookie scale contract with the Suns, according to the NBA transactions log.

The 28th pick in last week’s draft, Dunn will make $2,530,800 in his first season, assuming the usual 120% of the rookie scale figure given out by most teams to first-rounders. He’s due to make $12,998,353 during his first four years in the NBA.

Rookie scale contracts are guaranteed for the first two years, with team options on the third and fourth years.

Dunn played two years at Virginia before declaring for the draft. A defensive-minded forward, he averaged 8.1 points, 6.9 rebounds, 2.3 blocks and 1.3 steals in 34 starts last season.

Suns Sign Collin Gillespie On Two-Way Deal

July 2nd, 2024 at 5:03pm CST by Dana Gauruder

JULY 2: The signing is official, according to a press release from the Suns.

JULY 1: Collin Gillespie has agreed on a two-way deal with the Suns, ESPN’s Adrian Wojnarowski tweets.

Gillespie played for the Nuggets last season but didn’t receive a qualifying offer this past weekend, making him an unrestricted free agent. The point guard appeared in 24 games with Denver last season but only averaged 9.4 minutes in those appearances.

He also appeared in 12 total regular season and Showcase Cup games with the G League’s Grand Rapids Gold, filling the stat sheets with averages of 20.4 points, 9.3 rebounds, 10.8 assists and 1.8 steals per contest.

After going undrafted in 2022 out of Villanova, Gillespie suffered a lower leg fracture. He still received a two-way contract from Denver that offseason and remained on its roster despite the injury. The Nuggets then retained him on a two-way deal for 2023/24.

Gillespie averaged 15.6 PPG for the Wildcats in his final college season, shooting 41.5% from three-point range.

Reed Sheppard Signs Rookie Scale Contract With Rockets

July 2nd, 2024 at 4:53pm CST by Dana Gauruder

Guard Reed Sheppard has signed his rookie scale contract with the Rockets, according to the NBA transactions log.

The third overall pick in the draft, Sheppard will make $10,098,960 in his first year, assuming the usual 120% of the rookie scale figure given out by most teams to first-rounders. He’s due to make $45,853,024 in his first four years in the NBA.

Sheppard is the highest pick in this year’s draft thus far to sign his rookie deal.

Rookie scale contracts are guaranteed for the first two years, with team options on the third and fourth years.

Sheppard wasn’t even a starter in his lone college season at Kentucky, but he averaged 28.9 minutes per game as the Wildcats’ sixth man and impressed NBA evaluators with his shooting, play-making, and good hands on defense.

In 33 games, Sheppard averaged 12.5 points, 4.5 assists, 4.1 rebounds, and 2.5 steals per contest while making 53.6% of his field goals, including 52.1% of his three-point tries. He also shot 83.1% from the free throw line.

Dalton Knecht Signs Rookie Scale Contract With Lakers

July 2nd, 2024 at 2:36pm CST by Arthur Hill

First-round pick Dalton Knecht has reached a contract agreement with the Lakers, according to NBA.com’s transactions log.

L.A. was delighted to see the Tennessee sharpshooter slip to No. 17 in last week’s draft and reportedly has plans for him to be an immediate contributor. Although he’s old for a prospect at 23 and there are questions about his defense, his shooting is an obvious skill that should translate into the NBA.

Knecht played two years at Northern Colorado before transferring to Tennessee last summer. He was a consensus first-team All-American and was named SEC Player of the Year in his lone season with the Volunteers, averaging 21.7 points per game with .458/.397/.772 shooting stats.

Knecht’s four-year contract is expected to be worth about $18.5MM with a first-year salary of $3.8MM as our breakdown of this year’s rookie scale salaries shows. He’s now ineligible to be traded for 30 days.

Magic Re-Sign Moritz Wagner

July 2nd, 2024 at 2:05pm CST by Arthur Hill

JULY 6: The Magic confirmed in a press release (Twitter link) that they’ve officially re-signed Wagner. The deal will feature a second-year team option, tweets Michael Scotto of HoopsHype.

JULY 2: Moritz Wagner has agreed to re-sign with the Magic for $22MM over two years, according to ESPN’s Adrian Wojnarowski (Twitter link).

The 27-year-old center became an unrestricted free agent on Sunday after Orlando declined its $8MM team option for next season. The move was made to maximize cap space heading into free agency, but there were multiple reports that Wagner and the team were interested in a new deal.

Wagner appeared in 80 games last season, making just one start, and averaged 10.9 points, 4.3 rebounds and 1.2 assists in 17.7 minutes per night. He shot a career-best 60.1% from the field and 33% from three-point range as Orlando reached the playoffs for the first time in four years.

Wagner was drafted by the Lakers with the 25th pick in 2018 and played for three teams in his first three seasons before signing with the Magic late in the 2020/21 campaign. He has become a valuable reserve on one of the best young teams in the East.

Orlando has been active since the start of free agency, re-signing Goga Bitadze and Gary Harris along with Wagner, and luring Kentavious Caldwell-Pope away from Denver. The Magic still have some leftover cap room, though recent reporting suggested they may be focused on re-signing Joe Ingles and renegotiating Jonathan Isaac‘s contract.

Magic Re-Sign Gary Harris On Two-Year Contract

July 2nd, 2024 at 1:34pm CST by Dana Gauruder

JULY 6: Harris’ contract is official, the Magic announced today in a press release (Twitter link). The deal is worth $7.5MM annually, with a team option on year two, tweets Michael Scotto of HoopsHype.

JULY 2: Harris’ deal will actually be worth $15MM over two years, a source tells Wojnarowski (Twitter link).

JULY 1: The Magic are re-signing veteran swingman Gary Harris on a two-year, $14MM contract, ESPN’s Adrian Wojnarowski tweets.

Harris’ name had been bandied about as a reasonably-priced free agent option for numerous clubs but he opted for continuity. Harris is taking a pay cut — he made $13MM in each of the last two seasons.

Harris has spent the last three-and-a-half seasons with Orlando after playing six-and-a-half seasons with the Nuggets. The 29-year-old has been a starter most of his career but came off the bench in half of his 54 regular-season appearances last season. He averaged 6.9 points — his lowest output since his rookie season — along with 1.7 rebounds and 1.6 assists in 24 minutes per game.

During his 570-game NBA career, Harris has averaged 11 points, 2.4 rebounds and 1.9 assists. He’s a career 37% 3-point shooter.

He’ll likely slot in as the second-unit shooting guard behind Kentavious Caldwell-Pope, the Magic’s splashy free agent acquisition. KCP agreed to a three-year, $66MM deal to leave Denver.

Celtics Re-Sign Neemias Queta To Three-Year Deal

July 2nd, 2024 at 11:22am CST by Dana Gauruder

JULY 6: The Celtics have officially re-signed Queta, according to a press release from the team.

JULY 2: Queta’s deal will be for three years, according to Keith Smith of Spotrac, who tweets that the Celtics are using the center’s Non-Bird rights to give him a deal longer than what the minimum salary exception allows.

JUNE 30: The defending champion Celtics continued to pursue roster stability, reaching a multiyear agreement with big man Neemias Queta, Shams Charania of The Athletic tweets.

Boston made Queta a restricted free agent on Saturday by extending a qualifying offer of approximately $2.37MM. That came after the club declined its team option on his contract.

Queta averaged a career highs of 5.5 points and 4.4 rebounds and 0.8 blocks per night with the Celtics across 28 contests, earning a promotion from his two-way contract to the 15-man roster.

He was not part of the club’s rotation during its title run, appearing for cameos in just three contests.

The Celtics also reached a one-year agreement with another of their backup big men, Luke Kornet. That depth should come in handy with starter Kristaps Porzingis sidelined 5-6 months after undergoing left leg surgery.

Spurs Sign Stephon Castle To Rookie Scale Contract

July 2nd, 2024 at 10:59am CST by Luke Adams

No. 4 overall pick Stephon Castle has signed his first NBA contract, having finalized his rookie scale deal with the Spurs, according to NBA.com’s transaction log. The team has confirmed the news in a press release.

Castle, 19, is entering the NBA after winning a national championship at UConn in his first and only college season. The 6’6″ guard averaged 11.1 points, 4.7 rebounds, and 2.9 assists in 27.0 minutes per game for the Huskies, earning Big East Freshman of the Year honors and cementing his place as an NBA lottery pick.

Castle struggled as a shooter last season, making just 26.7% of his three-point tries, but he’s a strong defender who will become part of the long-term core in San Antonio alongside Victor Wembanyama. While he views himself as a point guard, the rookie is unlikely to start at the point in 2024/25 for the Spurs, who are poised to bring in Chris Paul in free agency.

As our breakdown of this year’s rookie scale salaries show, Castle’s four-year contract is expected to be worth about $41.4MM, with a first-year salary of $9.1MM.

Heat Sign Second-Rounder Pelle Larsson

July 2nd, 2024 at 10:15am CST by Luke Adams

The Heat have officially signed second-round pick Pelle Larsson to his first NBA contract, the team announced today in a press release.

Larsson was selected with the 44th pick in this year’s draft. The Rockets technically made the selection on Miami’s behalf, then sent the rookie’s rights to the Heat in a three-team trade that also involved the Hawks.

Larsson played three years of college ball at Arizona after spending his freshman season at Utah. In 2023/24, the 6’5″ wing averaged 12.8 points, 4.1 rebounds, and 3.7 assists in 30.1 minutes per game across 36 starts for the Wildcats, with a strong .519/.426/.750 shooting line.

Terms of Larsson’s deal weren’t disclosed by the Heat, but Anthony Chiang of The Miami Herald (Twitter links) hears that the team used the second-round pick exception to give him a three-year contract that starts at the rookie minimum (approximately $1.16MM). That means he’ll occupy a spot on Miami’s 15-man roster and the club will hold an option on him for the 2026/27 season.

The deal will be fully guaranteed in 2024/25, with a significant partial guarantee in year two, tweets Michael Scotto of HoopsHype.

The Heat have been busy on the transaction wire in the last 24 hours. Besides finalizing Larsson’s contract, they also signed a trio of players to two-way deals and completed Kel’el Ware‘s rookie scale contract.

Heat Sign Kel’el Ware To Rookie Scale Contract

July 1st, 2024 at 11:13pm CST by Luke Adams

The Heat have officially signed first-round pick Kel’el Ware to his rookie scale contract, the team announced today in a press release. Ware becomes the first player selected in the 2024 draft to formally sign his first NBA contract.

Considered one of the top centers in this year’s rookie class, Ware transferred to Indiana a year ago after spending his freshman year at Oregon. He enjoyed a breakout year for the Hoosiers, averaging 15.9 points, 9.9 rebounds, and 1.9 blocks in 32.2 minutes per game (30 contests), earning All-Big Ten and Big Ten All-Defense honors.

As the No. 15 pick in this year’s draft, Ware will earn a first-year salary of approximately $4.23MM. His four-year deal with Miami, which includes team options on the third and fourth seasons, will be worth about $20.47MM.

While teams can’t complete trades or certain signings until July 6, they’re allowed to sign first- or second-round picks to contracts during the moratorium period, so the Heat didn’t have to wait until Saturday to have Ware put pen to paper.