Transactions Rumors | Hoops Rumors

Wolves Acquire Blazers RFA Jake Layman In Sign-And-Trade

July 8th, 2019 at 7:14pm CST by Luke Adams

JULY 8: The Timberwolves and Blazers have issued press releases to confirm that the trade is official. Portland will generate a small trade exception in the deal.

JULY 3: The Timberwolves have reached a deal to sign forward Jake Layman to a three-year, $11.5MM contract, agent Mark Bartelstein tells ESPN’s Adrian Wojnarowski (Twitter link).

Layman is a restricted free agent whose rights are held by the Trail Blazers, but he won’t be signing an offer sheet. Instead, Minnesota will acquire him from Portland via a sign-and-trade arrangement, according to Wojnarowski.

“We’re extremely appreciative of how hard (Blazers president of basketball operations) Neil Olshey worked with us to accommodate what we were trying to accomplish in this sign and trade,” Bartelstein told Wojnarowski (Twitter links). “The deal couldn’t have happened without the Blazers looking out for Jake’s best interests.”

The Blazers will receive the draft rights to 2013 second-rounder Bojan Dubljevic in the deal, tweets Darren Wolfson of SKOR North.

Layman, 25, has spent the first three seasons of his NBA career in Portland after being selected with the 47th pick of the 2016 draft. He played a limited role in his first two seasons, but claimed a regular spot in the Blazers’ rotation in 2018/19, averaging 7.6 PPG and 3.1 RPG with a .509/.326/.704 shooting line in 71 games (18.7 MPG).

Minnesota lost some shooting in its frontcourt by agreeing to trade Dario Saric to Phoenix and watching Anthony Tolliver sign with the Blazers. The Wolves will presumably look to replace those departed players with Layman and Noah Vonleh, who agreed to a deal with Minnesota earlier this week.

Speaking of Saric, the trade sending him to the Suns will need to be completed before the Wolves’ deal with the Blazers, since Layman will slot into the trade exception created by Saric’s departure, per ESPN’s Bobby Marks (Twitter link). That exception will be worth $3.48MM, so Layman’s starting salary is permitted to start at $3.58MM (trade exceptions have an extra $100K cushion).

The Wolves, whose interest in Layman was first reported by Darren Wolfson on Tuesday, will be hard-capped at $138.9MM for the 2019/20 league year as a result of acquiring a player via sign-and-trade.

Photo courtesy of USA Today Sports Images.

Noah Vonleh Signs One-Year Deal With Timberwolves

July 8th, 2019 at 7:11pm CST by Luke Adams

JULY 8, 7:11pm: The signing is official, the team’s PR deparment tweets.

JULY 2, 8:23pm: Vonleh’s $2MM deal is worth slightly more than the league minimum, so the Wolves will have to use part of the mid-level or bi-annual exception to sign him, Krawczynski writes in his full story on the deal. According to Krawcznyski, the Wolves offered Vonleh a deal worth more money that would have had a team option in year two, but he wanted the opportunity to reach the open market again next year.

5:09pm: The Timberwolves and free agent forward Noah Vonleh have agreed to terms on a contract, according to Jon Krawczynski of The Athletic, who reports (via Twitter) that it will be a one-year deal.

Krawczynski adds (via Twitter) that the agreement will be worth $2MM. Vonleh’s minimum salary for 2019/20 will be $1,882,867, so that figure may be rounded up. Otherwise, the capped-out Wolves would have to use part of another exception to sign him.

Vonleh, who was the ninth overall pick in the 2014 draft, will be joining his fifth NBA team and hasn’t developed into the sort of impact player that his draft spot might suggest. However, he had a very solid year in New York in 2018/19, averaging 8.4 PPG and 7.8 RPG with a shooting line of .470/.336/.712 in 68 games (25.3 MPG) for the Knicks.

Vonleh will slot into a Timberwolves frontcourt rotation that is expected to feature another newcomer in Jordan Bell alongside incumbents like Karl-Anthony Towns and Gorgui Dieng. Vonleh will help shore up the power forward spot with Dario Saric and Taj Gibson not returning.

Raptors Re-Sign Patrick McCaw

July 8th, 2019 at 7:03pm CST by Luke Adams

7:03pm: The signing is official, according to a team press release.

2:29pm: The Raptors have agreed to a new deal with restricted free agent guard Patrick McCaw, reports Blake Murphy of The Athletic (via Twitter). A source tells Murphy that it will be a two-year contract.

Restricted free agency moved much quicker for McCaw this time around than it did last year, when he was a Warriors RFA and remained unsigned until December 28. The 23-year-old signed an offer sheet with the Cavaliers, but they waived him about a week later – before that deal became fully guaranteed – and he subsequently caught on with the Raptors.

In 26 regular season games for Toronto, McCaw averaged 2.7 PPG and 1.7 RPG in 13.2 minutes per contest. He played limited minutes in 11 postseason games for the Raptors, winning his third title in his third NBA season.

Their new deal with McCaw continues an offseason trend for the Raptors, who seem to be prioritizing wing defense after losing Kawhi Leonard and Danny Green. McCaw, Stanley Johnson, and Rondae Hollis-Jefferson aren’t reliable outside shooters, but they can all guard perimeter players effectively. Matt Thomas is the lone shooter the Raptors have agreed to sign this summer.

Suns Waive Kyle Korver

July 8th, 2019 at 5:09pm CST by Luke Adams

After being traded from the Jazz to the Grizzlies to the Suns, Kyle Korver has now been placed on waivers by Phoenix, according to NBA.com’s log of official transactions.

The move was expected, since only $3.44MM of Korver’s $7.5MM salary for 2019/20 was guaranteed. The Suns needed to open up extra cap room to sign Ricky Rubio to his three-year, $51MM contract, and releasing Korver helps pave the way.

Korver is now on track to clear waivers and become an unrestricted free agent on Wednesday evening. When he first reported that Korver would be cut, ESPN’s Adrian Wojnarowski identified the Lakers, Bucks, and Sixers as the probable frontrunners to sign the veteran sharpshooter once he reaches the open market.

Korver averaged 8.6 PPG on .416/.397/.822 shooting in 70 games (19.1 MPG) last season for the Cavaliers and Jazz. A June report indicated that the 38-year-old – who is a career 42.9% three-point shooter – is expected to play for at least one more year.

Thunder Trade Jerami Grant To Nuggets

July 8th, 2019 at 4:33pm CST by Luke Adams

4:33pm: The Nuggets have officially announced the trade, making it official.

12:26pm: The first-round pick going to the Thunder for Grant will be top-10 protected for the next three drafts, according to ESPN’s Zach Lowe (Twitter link), who adds that it would convert into two second-rounders in the very unlikely event it doesn’t convey by 2022.

9:37am: The Nuggets and Thunder have agreed to a trade that will send forward Jerami Grant to Denver, reports ESPN’s Adrian Wojnarowski (via Twitter). League sources tell Wojnarowski that Oklahoma City will receive a 2020 first-round pick in exchange for Grant.

Grant, 25, enjoyed his best season as a pro in 2018/19 as the Thunder’s starting power forward, averaging 13.6 PPG, 5.2 RPG, and 1.3 BPG with a shooting line of .497/.392/.710. He has one guaranteed year left on his contract, plus a player option for 2020/21.

After surrendering their 2019 first-round pick to shed salary and get out of the tax, the Nuggets will give up next year’s pick in order to add a quality veteran contributor to their frontcourt, which had been their biggest area of need. Denver had been quiet this past week in free agency, with $121MM+ in guaranteed money already on the club’s books.

The Nuggets will retain their mid-level exception, since Grant will be absorbed using one of the team’s sizable trade exceptions from last summer’s salary dumps. However, team salary is now above $130MM and inching close to the tax line, so I wouldn’t expect Denver to make any major signings. The acquisition of Grant may also make RFA power forward Trey Lyles expendable.

The trade will be a cost-cutting move for the Thunder, who are retooling their roster after agreeing to trade Paul George to the Clippers. Wojnarowski projects that sending Grant to Denver will save OKC approximately $39MM in salary and luxury-tax penalties, despite the fact that Grant is only earning about $9.35MM in 2019/20.

Those savings are fluid and will depend on subsequent roster moves made by the Thunder, but that $39MM estimate is a reflection of how punitive the repeater taxpayer penalties would be for the franchise this season. OKC remains above the $132.63MM tax threshold for now, but not by much — the club could conceivably get below that line with another move.

In addition to saving money, the Thunder will generate a trade exception worth Grant’s salary ($9.35MM) and will acquire their sixth future first-round pick of the week, having secured five first-rounders in the George trade. That PG13 deal also landed Oklahoma City its new starting power forward, as Danilo Gallinari projects to take Grant’s place in the club’s starting lineup.

Of course, with George and Grant headed for new homes, trade rumors surrounding Russell Westbrook figure to multiply. We rounded up the latest updates and speculation about a possible Westbrook trade on Sunday.

Photo courtesy of USA Today Sports Images.

Quinndary Weatherspoon Signs Two-Way Deal With Spurs

July 8th, 2019 at 4:20pm CST by Dana Gauruder

The Spurs have signed second-round pick Quinndary Weatherspoon to a two-way contract, according to a team press release.

Weatherspoon, a 6’4” guard out of Mississippi State, was the 49th overall pick last month. He’s already appeared in three summer league games, averaging 15.0 PPG, 4.0 RPG and 2.0 APG.

San Antonio has now filled both of its two-way slots. Big man Drew Eubanks, who appeared in 23 games with the Spurs last season, holds the other spot.

Weatherspoon played all four college seasons with the Bulldogs and became the third player in school history to accumulate over 2,000 career points. He earned All-SEC honors in his final three seasons, including a spot on the First Team in his senior year when he posted a career-best 18.5 PPG, 4.7 RPG, 2.8 APG and 1.68 SPG.

Timberwolves Claim Tyrone Wallace Off Waivers

July 8th, 2019 at 4:16pm CST by Luke Adams

Two days after being released by the Clippers, guard Tyrone Wallace has a new NBA home. According to Shams Charania of The Athletic (via Twitter), the Timberwolves have claimed Wallace off waivers before he could reach the open market.

Wallace made a strong impression as a rookie on a two-way contract in 2017/18, when he posted 9.7 PPG, 3.5 RPG, and 2.4 APG in 30 games (28.1 MPG) for the Clippers. His performance earned him an offer sheet from the Pelicans as a restricted free agent.

However, after L.A. matched that offer sheet and brought him back, the 25-year-old struggled this past season, recording just 3.5 PPG, 1.6 RPG, and 0.7 APG in 62 games (10.1 MPG). His shooting percentages also dipped across the board. He became expendable within the last week as the Clippers cleared cap room for bigger moves.

Wallace is on a non-guaranteed minimum-salary contract that will become partially guaranteed for $300K in September, then fully guaranteed in January, so the Wolves have some time to evaluate whether he’ll be part of their plans for the 2019/20 season.

The Timberwolves’ point guard situation is in flux at the moment behind presumed starter Jeff Teague. Minnesota will acquire Shabazz Napier in a trade, but it’s not clear if the team intends to hang onto him or if it’s just accommodating a salary dump. Additionally, it remains to be seen if the Wolves will match Tyus Jones‘ three-year, $24MM+ offer sheet with the Grizzlies.

Warriors Trade Jones, Second-Rounder To Hawks For Spellman

July 8th, 2019 at 3:36pm CST by Luke Adams

3:36pm: The trade is now official, according to press releases issued by both teams. The second-round pick going to Atlanta in the deal is the Warriors’ 2026 second-rounder.

1:49pm: The Warriors and Hawks have agreed to a trade that will send big man Omari Spellman to Golden State, reports Shams Charania of The Athletic (Twitter links). According to Charania, Atlanta will receive center Damian Jones and a second-round pick in the swap.

Spellman, who will turn 22 later this month, was the 30th overall pick in the 2018 draft. He appeared in 46 games during his rookie season in Atlanta, averaging 5.9 PPG and 4.2 RPG in 46 games (17.5 MPG). The former Villanova standout also showed an ability to hit outside shots, making 1.0 three-pointer per game at a 34.4% rate.

As for Jones, he was the 30th overall pick two years earlier, in 2016, so he’ll be up for restricted free agency next summer. The 24-year-old opened the 2018/19 campaign as Golden State’s starting center, averaging 5.4 PPG and 3.1 RPG in 24 games (17.1 MPG), before a torn pectoral muscle sidelined him for the rest of the regular season.

The financial aspect of the deal is important for the Warriors, who are facing a $138.9MM hard cap. Spellman will earn about $1.9MM this season, while Jones is set to make $2.31MM. That difference may appear modest, but Golden State doesn’t have a whole lot of wiggle room, so the added flexibility will help the team fill out its roster.

Nets, Warriors Complete Durant, Russell Sign-And-Trade

July 8th, 2019 at 1:00pm CST by Luke Adams

JULY 8: The first-round pick going to Brooklyn in the deal is the Warriors’ 2020 pick, according to Michael Scotto of The Athletic, who tweets that it will be top-20 protected. If it falls in that range – and it very well could, given Golden State’s roster changes – the Nets would instead receive the Warriors’ 2025 second-round pick, per Scotto.

JULY 7: The Nets and Warriors have officially completed the sign-and-trade deal that sends Kevin Durant and a protected 2020 first-round pick to Brooklyn in exchange for D’Angelo Russell, Treveon Graham, and Shabazz Napier, the two teams announced in a pair of press releases.

“Kevin is a champion, perennial All-Star and one of the great players of this, or any, generation,” Nets general manager Sean Marks said in a statement. “Adding a player of Kevin’s caliber to our organization elevates our ability to compete with the elite teams in this league. His tremendous abilities and dedication to his craft have made him as talented an offensive player our game has ever seen and we, as well as all of Brooklyn, are thrilled to welcome Kevin and his family to the Nets.”

Durant initially agreed to sign with the Nets outright using their cap room, but the Warriors engaged them in discussions last Sunday night and eventually agreed to a deal that would include a pair of sign-and-trades — Durant to Brooklyn and D’Angelo Russell to Golden State. Russell, a restricted free agent, became expendable when the Nets finalized agreements with Durant and Kyrie Irving.

“We’re excited to add a player of D’Angelo’s ability to our roster,” Warriors president of basketball operations Bob Myers said in his team’s announcement. “He’s coming off an All-Star season with the Nets and we feel, at the age of 23, his best basketball is certainly ahead of him in regards to his career trajectory.”

In order to incentivize the Nets to accommodate the Russell sign-and-trade, the Warriors sent a future draft pick to Brooklyn, and will also take on Graham and Napier — those two players will be flipped to Minnesota in a subsequent deal.

Durant, who is recovering from a torn Achilles, isn’t expected to be ready to return until the 2020/21 season, but the Nets have him the long-term — he reportedly agreed to a four-year contract (with a fourth-year player option) that will be worth the maximum salary, or possibly slightly below it to accommodate DeAndre Jordan‘s deal with the club.

Meanwhile, the Warriors will be hard-capped at $138.9MM as a result of acquiring Russell via sign-and-trade, which will limit their ability to make roster moves during the 2019/20 league year. The club already had to send Andre Iguodala and his $17MM+ salary to Memphis in a cost-cutting measure.

Photo courtesy of USA Today Sports Images.

Kings Re-Sign Harrison Barnes To Four-Year Deal

July 8th, 2019 at 12:53pm CST by JD Shaw

JULY 8: The Kings have officially announced their new deal with Barnes, issuing a press release to confirm the signing.

JUNE 30: The Kings will finalize a four-year, $85MM deal with free agent forward Harrison Barnes, according to Sam Amick of The Athletic (Twitter link). The deal will decline annually, accounting for just 14% of the team’s cap during the final season. ESPN’s Adrian Wojnarowski confirms (via Twitter) that the two sides have agreed to terms.

Barnes, 27, was traded from the Mavericks to the Kings at February’s trade deadline in the third year of the four-year, maximum-salary contract he signed with Dallas back in 2016. For the season, he recorded 16.4 PPG and 4.7 RPG with a .420/.395/.824 shooting line in 77 games (32.9 MPG).

Barnes had a player option for the 2019/20 season that would have paid him more than $25MM, but opted to turn it down. Based on his new deal, it’s clear why he went in that direction — his new contract won’t be quite worth $25MM annually, but it will give him substantially more long-term security than his option would have.

When the Kings acquired Barnes from Dallas during the season, reports indicated that the team viewed him as its answer at small forward. However, head coach Dave Joerger ended up frequently using his new acquisition at the four. Presumably, Sacramento’s front office and new head coach Luke Walton are aligned on how to best use Barnes going forward.

Even after reaching deals with Barnes, Trevor Ariza, and Dewayne Dedmon today, Sacramento still projects to have up to about $13MM in cap space, notes ESPN’s Bobby Marks. However, the team could only create that room by renouncing Willie Cauley-Stein‘s cap hold.

Photo courtesy of USA Today Sports Images. Luke Adams contributed to this post.