Transactions Rumors | Hoops Rumors

Suns, Royce O’Neale Complete Four-Year Deal

June 29th, 2024 at 12:40pm CST by Luke Adams

JULY 6: O’Neale’s new contract with the Suns is official, according to the NBA’s transaction log. It has a base value of $42MM, with an additional $2MM in unlikely incentives, Hoops Rumors has learned.

JUNE 29: Free agent forward Royce O’Neale intends to sign a four-year, $44MM contract to remain with the Suns, according to Adrian Wojnarowski of ESPN (Twitter link).

The deal won’t feature either a team or player option and will be fully guaranteed, reports Zach Lowe of ESPN (Twitter link). It will be the most lucrative contract of O’Neale’s career, topping his previous four-year, $36MM extension that’s about to expire.

The No. 19 player on our list of this year’s top 50 free agents, O’Neale has been a reliable, durable wing since entering the league in 2017, never appearing in fewer than 69 games in a season across stints in Utah, Brooklyn, and Phoenix. The Suns acquired the former Baylor standout from Brooklyn in a three-team deal at February’s trade deadline.

A versatile defender with the size to match up against bigger wings and forwards, O’Neale isn’t much of an offensive threat, having never averaged more than 8.8 points per game in a season. But he’s a solid three-point shooter, with a career rate of 38.1% from beyond the arc, and he has averaged 3.2 assists per game over the past two seasons.

Because Phoenix projects to operate over the second tax apron in 2024/25, the team would have had no means to replace O’Neale or Grayson Allen with an equivalent player in free agency, so there was an expectation that both players would be re-signed. The Suns extended Allen in April and have now reached a deal to retain O’Neale as well.

Since O’Neale was expected to receive interest on the open market from rival suitors, the belief was that Phoenix would have to go up to three or four years to beat out clubs who might offer a higher starting salary. That turned out to be the case, with the Suns making a guaranteed four-year commitment to the 31-year-old.

As cap expert Yossi Gozlan tweets, adding O’Neale’s new deal to the Suns’ books increases their projected team salary for next season to nearly $217MM. The luxury tax line is expected to come in around $171.3MM. There may be more moves to come that push the Suns’ salary in one direction or the other, but based on the current projections – and accounting for tax penalties – it would be the second-most expensive roster in NBA history, says Gozlan.

Hawks’ Saddiq Bey To Become Unrestricted Free Agent

June 29th, 2024 at 12:05pm CST by Luke Adams

The Hawks have decided against tendering forward Saddiq Bey a qualifying offer, according to ESPN’s Adrian Wojnarowski (Twitter link). The move will ensure that Bey becomes an unrestricted free agent rather than a restricted FA.

The 19th overall pick in the 2020 draft, Bey spent his first two-and-a-half seasons with the Pistons before being traded to the Hawks at the 2023 deadline. The 25-year-old has shown promise as a three-and-D wing across his four NBA seasons, averaging 14.1 points, 5.2 rebounds, and 1.8 assists in 30.2 minutes per game across 292 total outings (223 starts).

However, Bey was inconsistent in 2023/24, making a career-low 31.6% of his three-point attempts in 63 games before suffering a left ACL tear in March. Assuming a normal recovery time, that injury is likely to sideline him for a good chunk of the 2024/25 season, if not all of it.

Prior to that knee injury, Bey met the “starter criteria,” increasing the value of his potential qualifying offer from about $6.5MM to $8.49MM.

Given his ongoing injury recovery and the Hawks’ proximity to the tax line, it makes sense that the team would decide against giving Bey that QO, even if it has some interest in retaining him. In a worst-case scenario for the Hawks, he could’ve accepted his QO, earning nearly $8.5MM while spending the 2024/25 season recovering from his torn ACL, then left Atlanta as an unrestricted free agent next summer once he’s healthy.

QO Updates: Cavaliers, Pistons, Christie, Watford

June 29th, 2024 at 11:36am CST by Rory Maher

The Cavaliers have issued qualifying offers to young wings Isaac Okoro and Emoni Bates, which means they’re both heading for restricted free agency, sources tell Chris Fedor of Cleveland.com (Twitter link).

The fifth overall pick of the 2020 draft, Okoro’s QO — essentially just a one-year contract offer that gives the team the right of first refusal — is worth approximately $11.83MM. Bates’ QO, meanwhile, is for another two-way contract; he spent his 2023/24 rookie campaign on a two-way deal with Cleveland.

The Pistons announced in a press release (via Twitter) that they have extended a qualifying offer to forward Simone Fontecchio, making him a restricted free agent as well. Detroit is considered likely to retain the Italian sharpshooter, whose QO is worth about $5.2MM after he met the “starter criteria” in March.

However, the Pistons have decided not to tender QOs to former first-round picks James Wiseman and Malachi Flynn, according to Michael Scotto of HoopsHype (Twitter links). Both Wiseman and Flynn will be heading for unrestricted free agency.

The second pick of the 2020 draft, Wiseman did not meet the starter criteria, so his QO would have been worth $7.7MM. Flynn’s QO was valued at $5.8MM.

The moves were expected, as clearing the cap holds for Wiseman and Flynn will allow Detroit to create a significant amount of cap room heading into the new league season. Teams can officially begin negotiating with external free agents on Sunday evening.

Here are a couple more players who are heading for restricted free agency:

Lakers guard Max Christie was given a $2.3MM qualifying offer, Scotto reports (via Twitter). The 21-year-old has averaged 3.8 points and 2.0 rebounds while shooting 37.8% from deep over his first two NBA seasons (108 games, 13.5 minutes per contest). Scotto hears Christie is expected to receive interest from rival suitors as a RFA.
Sources tell Brian Lewis of The New York Post that the Nets plan to give Trendon Watford a QO before Saturday’s deadline (Twitter link). A former undrafted free agent who played college ball at LSU, Watford’s one-year QO is worth just over $2.7MM. He averaged 6.9 points and 3.1 rebounds on .527/.397/.794 shooting in 63 games last season for Brooklyn (13.6 minutes).

Celtics Picking Up Sam Hauser’s Option, Will Work On Extension

June 29th, 2024 at 10:54am CST by Tristan Tucker

The Celtics are picking up Sam Hauser‘s team option worth $2.1MM ahead of Saturday’s deadline, The Boston Globe’s Adam Himmelsbach reports.

The move puts Hauser on track for unrestricted free agency in 2025. The Celtics could have made him a restricted free agent this summer by declining his team option.

However, the two sides are expected to begin negotiating a contract extension when the window to do so opens on July 9, according to Himmelsbach. Hauser would remain extension-eligible for the entire 2024/25 league year if he doesn’t agree to a new deal right away.

“I will say we want Hauser to be here for a long time,” president of basketball operations Brad Stevens said this week.

Hauser became a key player for the Celtics off the bench after originally joining the team on a two-way contract in 2021. This past season, he averaged 9.0 points on 42.4% shooting from deep (5.9 attempts) in 79 regular season games. He appeared in 14 playoff games and helped the Celtics win their 18th title.

We’re tracking all of the 2024/25 team option decisions right here.

Rockets Picking Up Jae’Sean Tate’s 2024/25 Team Option

June 29th, 2024 at 10:27am CST by Tristan Tucker

The Rockets are exercising forward Jae’Sean Tate‘s team option for next season, according to ESPN’s Adrian Wojnarowski (Twitter link). Tate’s option will pay him a base salary of approximately $7.07MM in 2024/25, with $500K in likely incentives bringing his cap hit to $7.57MM.

Tate’s been productive since joining the Rockets in ’20/21, averaging 9.3 points, 4.5 rebounds and 2.2 assists in 244 games (151 starts) with the franchise. However, his minutes have decreased in each of the subsequent three seasons since he made the All-Rookie Second Team in ’20/21. Last season, he logged just 15.9 minutes per game in his 65 appearances (nine starts).

While the Rockets could just keep Tate as a serviceable and proven backup option, his expiring contract could also come in handy in trade negotiations. Houston is reportedly looking to add star-power to its roster, so being able to use Tate’s $7.6MM salary for matching purposes this offseason or ahead of the deadline makes sense.

The Rockets are also expected to exercise Jeff Green‘s $8MM team option and guarantee Jock Landale‘s $8MM salary for the same reason, as previously reported.

Heat’s Kevin Love Declining Player Option

June 29th, 2024 at 10:07am CST by Tristan Tucker

Heat forward Kevin Love is turning down his player option for next season, according to ESPN’s Adrian Wojnarowski (Twitter link). Love will become an unrestricted free agent as a result of declining that $4MM option.

Even though Love is declining his option, the two sides are enthusiastic about reaching a new deal in the opening days of free agency, Wojnarowski reports. Love has spent the past season and a half with the Heat after being bought out by the Cavaliers ahead of the 2023 trade deadline.

Love has been one of the more underrated buyout pickups of the last few years, immediately settling into a veteran leader role while averaging 8.5 points and 6.0 rebounds in 76 games with the Heat (22 starts). He was also a big part of Miami’s run to the NBA Finals in 2022/23, averaging 6.9 points and 5.6 rebounds per game while shooting 37.5% from deep (4.4 attempts) in 20 postseason appearances.

Love, 35, is a five-time NBA All-Star and former champion with the Cavaliers in ’15/16. He has played 929 games (684 starts) while holding career averages of 16.5 points and 10.1 rebounds. According to Basketball-Reference.com, Love has a 73.47% chance to be inducted into the Naismith Basketball Hall of Fame.

According to the Miami Herald’s Anthony Chiang, one option could be for Love to re-sign with the Heat at his minimum of about $3.3MM with an additional year attached (Twitter link). That would give the team some extra wiggle room under the second apron to keep some of its own free agents.

Clippers’ Russell Westbrook Exercising 2024/25 Player Option

June 29th, 2024 at 10:02am CST by Rory Maher

Former NBA MVP Russell Westbrook is exercising his 2024/25 player option to return to the Clippers, sources tell ESPN’s Adrian Wojnarowski (Twitter link).

As our player option decisions tracker shows, Westbrook will earn just over $4MM next season. His contract is fully guaranteed. June 29 is the deadline for player options for the ’24/25 season.

The 35-year-old guard primarily came off the bench last season for Los Angeles, averaging 11.1 PPG, 5.0 RPG, 4.5 APG and 1.1 SPG on .454/.273/.688 shooting in 68 regular season games (22.5 MPG). He struggled in the Clips’ first-round playoff loss to Dallas, averaging 6.3 PPG, 4.2 RPG, 1.7 APG and 1.2 SPG on .260/.235/.615 shooting in six games (19.0 MPG).

Either Westbrook was content to return to L.A. or he wasn’t confident he could exceed his $4MM option as an unrestricted free agent (or perhaps both). For what it’s worth, the veteran’s minimum for a player with Westbrook’s experience is projected to be just over $3.3MM in ’24/25.

A Long Beach native who played two years of college ball at UCLA, Westbrook is one of the most accomplished players in NBA history, making nine All-Star and All-NBA teams over the course of his 16-year career. He has led the league in points per game twice, assists per game three times, won All-Star game MVP twice, and was named to the NBA’s 75th anniversary team in 2021.

While he’s clearly past his peak, Westbrook still brings his trademark energy and tenacity every time he steps on the court.

Marc Stein reported last week that Westbrook exercising his option might not preclude the Clippers from exploring other options at backup point guard, with Chris Paul and Kyle Lowry among the names who have been linked to L.A.

Magic To Decline Joe Ingles’ Team Option

June 29th, 2024 at 9:48am CST by Tristan Tucker

The Magic are declining Joe Ingles‘ team option for the 2024/25 season, Adrian Wojnarowski of ESPN reports (Twitter link). As a result of the move, the veteran wing will be an unrestricted free agent.

Ingles was set to make $11MM next season, but with his option declined, Orlando projects to have $44MM in cap space, which can increase to over $50MM if Moritz Wagner‘s team option is also declined, according to ESPN’s Bobby Marks (Twitter link). Marks also notes Jonathan Isaac is on a $17.4MM non-guaranteed contract.

While Ingles is hitting the open market, Wojnarowski reports the two sides are expected to continue dialogue through free agency next week.

The 36-year-old Ingles signed with the Magic last season after playing for the Bucks the year before. In 68 games with Orlando, Ingles averaged 4.4 points but shot 43.5% on his 2.4 three-point attempts per game.

Ingles began his career in 2014 with Utah, where he spent eight seasons. In total, he holds career averages of 8.1 points on a 41.0% clip from deep.

Blazers Exercising 2024/25 Team Option On Dalano Banton

June 29th, 2024 at 9:40am CST by Rory Maher

The Trail Blazers are exercising their 2024/25 team option on Dalano Banton, reports ESPN’s Adrian Wojnarowski (via Twitter).

As our team option decision tracker shows, Banton is slated to make a $2,196,970 next season. However, that figure is non-guaranteed. Now that his option has been picked up, his deal is partially guaranteed for $217,533, with multiple trigger dates to follow.

A report back in April said Portland was expected to pick up its option on Banton’s contract, so the move doesn’t come as a surprise.

The 46th pick of the 2021 draft, Banton was traded to Portland from Boston in a salary-dump move ahead of the February deadline. In part due to injuries, Banton received extended playing time down the stretch of the ’23/24 season for the Blazers, averaging 16.7 PPG, 4.8 RPG and 3.9 APG in 30 games, including eight starts (29.2 MPG).

While those counting stats are impressive, the 24-year-old struggled with scoring efficiency, posting a .408/.311/.780 shooting line over that span. That slash line is quite similar to his career mark (.409/.289/.729) — working to improve those percentages will be a key for Banton moving forward.

Still, obviously the Blazers were impressed enough with the 6’9″ guard to exercise their option on his deal. Despite being a former second-round pick, Banton has only played on standard contracts to this point in his career. The Toronto native spent his first two seasons with his hometown Raptors.

Nets Agree To Exhibit 10 Deals With KJ Jones, Mark Armstrong

June 29th, 2024 at 7:41am CST by Luke Adams

June 29: Armstrong is joining the Nets on an Exhibit 10 deal, Adam Zagoria of NJ.com reports (Twitter link). The Nets currently have just one player signed to a two-way contract for next season (Jaylen Martin), so it’s feasible that Armstrong winds up competing for one of those two-way slots. Armstrong is a former four-star prospect with USA Basketball experience.

June 27: The Nets have reached an agreement on an Exhibit 10 contract with high-scoring Division II guard KJ Jones, according to Jon Chepkevich of DraftExpress.com (Twitter link).

Jones, who played his college ball at Emmanuel University in Georgia, has averaged 26.2 points per game in back-to-back seasons and scored more than 3,600 total points over the course of his five-year collegiate career. He posted a shooting line of .482/.371/.868 across those five seasons, also logging career averages of 5.7 rebounds, 3.0 assists, and 1.6 steals per contest.

As Chepkevich notes, Jones was the only Division II prospect to receive an invitation to the Portsmouth Invitational Tournament this spring.

Villanova’s Mark Armstrong may also be joining the Nets’ offseason roster, with Jake Weingarten of StockRisers.com tweeting that Brooklyn has reached a deal with the former Villanova standout. However, there are no additional details on that agreement (ie. whether it’s for a two-way contract, an Exhibit 10 deal, etc.), so it’s possible Armstrong is just joining the team for Summer League for now.

The former Wildcats guard registered averages of 8.4 PPG, 2.4 APG, and 2.3 RPG on .417/.282/.776 shooting as a sophomore in 2023/24 before declaring for the draft as an early entrant.