Transactions Rumors | Hoops Rumors

Sixers Sign Ben Simmons To Five-Year Extension

July 16th, 2019 at 2:19pm CST by Luke Adams

JULY 16: The Sixers have officially signed Simmons to his new extension, the team announced today in a press release.

“Ben Simmons is an important piece of our core and he is one of the NBA’s most dynamic and talented young players,” GM Elton Brand said in a statement. “It was a priority for our organization that we finalize a contract extension with Ben this summer. He was Rookie of the Year in his first season, an All-Star in his second and we expect him to continue grow and succeed for seasons to come. Ben positively impacts the game in so many ways and we look forward to continuing our championship pursuits with him as one of our leaders.”

JULY 15: The Sixers and Ben Simmons have reached a deal on a five-year, maximum-salary contract extension, agent Rich Paul tells Shams Charania of The Athletic (Twitter link). The agreement had been anticipated after Philadelphia put a max extension offer on the table for Simmons near the start of free agency.

Based on the NBA’s current cap projections for 2020/21, which is when Simmons’ new deal will begin, a five-year, maximum-salary contract will pay him $169.65MM.

The Sixers and Simmons could agree to language that would push that figure as high as $203.58MM in the event that he earns an All-NBA spot next season, but there’s no indication yet that those Rose Rule conditions will be included in the agreement. For what it’s worth, Charania pegs the value of the contract at $170MM.

Simmons, who will turn 23 on Saturday, has established himself as one of the NBA’s most dynamic young play-makers since being selected first overall in the 2016 draft. After missing his rookie season for health reasons, he has averaged 16.4 PPG, 8.5 RPG, 7.9 APG, and 1.6 SPG in 160 regular season contests for Philadelphia over the last two years.

While Simmons is one of the league’s most dangerous creators in transition and can go off for a triple-double on any given night, the Sixers will be looking for him to expand his half-court game and to add a more consistent jump shot to his repertoire going forward.

With a lucrative new deal for Simmons hitting their books in 2020/21, the Sixers will have to take their long-term luxury tax outlook into account when making roster moves. Having made major financial commitments to Joel Embiid, Tobias Harris, and Al Horford too, Philadelphia already projects to be $6MM+ over the tax line for ’20/21 with only 11 players under contract so far, tweets Jeff Siegel of Early Bird Rights.

Siegel also observes (via Twitter) that Simmons and Embiid are both now “designated rookies” for the Sixers, having signed five-year extensions before their rookie contracts expired.

An NBA team is permitted to have up to two designated rookies on its roster at a time (including no more than one via trade), so the Sixers wouldn’t be able to add a third until Embiid’s contract expires in 2023, unless they trade away Simmons or Embiid. It’s the same rule that prevented the Celtics from acquiring Anthony Davis last season while they were carrying Kyrie Irving.

Photo courtesy of USA Today Sports Images.

Kings Sign Richaun Holmes To Two-Year Deal

July 16th, 2019 at 2:07pm CST by Luke Adams

JULY 16: The Kings have officially signed Holmes, the club announced today in a press release.

JULY 1: The Kings and big man Richaun Holmes have reached an agreement on a two-year deal worth $10MM, reports Shams Charania of The Athletic (Twitter link).

Based on the reported terms of Holmes’ new deal and the other agreements the Kings have finalized during free agency, it appears likely that he’ll receive the team’s $4.8MM room exception.

Holmes, 25, spent his first three NBA seasons in Philadelphia before being sent from the Sixers to Suns a year ago. He averaged 8.2 PPG, 4.7 RPG, and 1.1 BPG in 70 games (16.9 MPG) as a regular part of Phoenix’s frontcourt rotation.

The Kings have now reached agreements with four outside veteran free agents in addition to bringing back their own free agent forward Harrison Barnes on a four-year deal.

As our free agent tracker shows, Cory Joseph, Trevor Ariza, and Dewayne Dedmon will also be joining the club once they can officially sign contracts this weekend.

Photo courtesy of USA Today Sports Images.

Suns Re-Sign Kelly Oubre To Two-Year Deal

July 16th, 2019 at 1:27pm CST by Luke Adams

JULY 16: The Suns have officially re-signed Oubre, the team announced today in a press release.

JULY 11: The Suns have reached an agreement with restricted free agent forward Kelly Oubre, agent Nima Namakian of BDA Sports tells ESPN’s Adrian Wojnarowski (Twitter link).

Oubre, who had been the last unsigned RFA on the market, will sign a two-year, $30MM contract, per Wojnarowski. According to Michael Scotto of The Athletic (Twitter link), it’s a fully guaranteed deal with no options. It also has a descending structure, with a $15.7MM first-year salary, tweets John Gambadoro of Arizona Sports 98.7.

Oubre, 23, was selected 15th overall in the 2015 draft and spent the first three and a half years of his NBA career in Washington. The Wizards, who didn’t appear committed to paying him in free agency this summer, attempted to trade Oubre to Memphis in a three-team trade for Trevor Ariza last December, then pivoted when that deal fell through and sent him directly to Phoenix in a package for Ariza a few days later.

In 40 games (12 starts) with the Suns, Oubre posted some of the best numbers of his career, averaging 16.9 PPG, 4.9 RPG, and 1.4 SPG with a .453 FG% in 29.5 minutes per contest. All of those marks would have been career highs.

As they completed their offseason roster moves, the Suns made it a priority to keep Oubre’s cap hold on their books in order to retain his Bird Rights and go over the cap to re-sign him, sending Josh Jackson, De’Anthony Melton, and a pair of second-round picks to Memphis in a trade to shed salary and avoid losing the former Wizard.

While Oubre may have been hoping for a longer-term commitment, his new two-year contract will give the young forward some financial security and allow him to return to the open market as an unrestricted free agent when he’s just 25 years old, Wojnarowski observes (via Twitter).

Photo courtesy of USA Today Sports Images.

Knicks Sign Reggie Bullock To Reworked Deal

July 16th, 2019 at 11:35am CST by Luke Adams

11:35am: The Knicks have officially announced their new deal with Bullock.

9:43am: The Knicks and free agent shooting guard Reggie Bullock have finalized a new contract agreement after an earlier deal fell through, agent David Bauman tells Shams Charania of The Athletic (Twitter link). Bullock confirmed the news himself today, tweeting, “Done deal!”

Bullock and the Knicks initially agreed to a two-year, $21MM contract with a second-year team option near the start of free agency. However, they reworked that deal after “unanticipated health issues” arose, as Charania notes.

According to Ian Begley of SNY.tv (Twitter link), Bullock’s new two-year contract will have a starting salary worth less than the $4.77MM room exception. The new deal will also have a second-year option, tweets Marc Berman of The New York Post.

“[The] Knicks were fantastic through this process,” Bauman told Begley.

A first-round pick in the 2013 draft, Bullock began his career with the Clippers and then the Suns, but didn’t hit his stride until a stint with Detroit that began in 2015.

Bullock averaged 11.3 PPG and shot 44.5% on three-pointers for the Pistons in 2017/18. Last season, the veteran split his time between the Pistons and Lakers as a result of a deadline trade, recording 12.1 PPG with a .377 3PT% in 63 total games.

While we don’t know the details of Bullock’s health issues, he has battled plantar fasciitis in the past. As a result of the extra cap room generated when his original deal was nixed, the Knicks were able to bring in Marcus Morris on a one-year, $15MM contract.

Bullock was the last player on our list of 2019’s top 50 free agents who had yet to agree to a new contract.

Photo courtesy of USA Today Sports Images.

Knicks Sign Marcus Morris

July 16th, 2019 at 10:19am CST by ChrisCrouse

JULY 16: Morris has officially signed with the Knicks, per NBA.com’s transactions log.

JULY 11: The Knicks have agreed to a one-year, $15MM deal with Marcus Morris, Shams Charania of The Athletic reports (Twitter link). Morris had previously come to an agreement with the Spurs but chose not to honor the verbal agreement.

San Antonio was planning on using its mid-level exception to sign Morris and turned its DeMarre Carroll acquisition into a sign-and-trade in order to accommodate Morris on a two-year deal worth approximately $19MM. The Spurs traded away Davis Bertans as part of the Carroll sign-and-trade.

“I had to make this decision based on the best situation for me and my family,” Morris said (via Charania). “This is no knock on the Spurs. I have respect for them.”

New York had the flexibility to add Morris after renegotiating its deal with Reggie Bullock. Bullock agreed to terms with the Knicks on a two-year, $21MM pact, but the franchise nixed that deal over health concerns. Ian Begley of SNY.tv tweets that New York plans to amend the agreement with Bullock.

Morris, who earned the No. 22 spot on our list of this offseason’s top 50 free agents, was the most notable name still on the board. The 29-year-old had a solid year in Boston as the Celtics’ primary starting forward in 2018/19, averaging 13.9 PPG, 6.1 RPG, and 1.5 APG with a .447/.375/.844 shooting line. He’ll join a Knicks frontcourt that also features newly-added veterans like Bobby Portis, Julius Randle, and Taj Gibson in addition to incumbent youngsters Mitchell Robinson and Kevin Knox.

The move to sign Morris exhausts New York’s cap room. The team has the room exception available to sign Bullock or another free agent.

Photo courtesy of USA Today Sports Images.

Heat Sign Forward Kyle Alexander

July 15th, 2019 at 5:45pm CST by Dana Gauruder

The Heat have signed forward Kyle Alexander, according to a team press release. It’s an Exhibit 10 contract, Ira Winderman of the South Florida Sun Sentinel tweets.

Alexander will participate in training camp and likely be ticketed to the team’s G League affiliate in Sioux Falls.

Alexander played eight summer league games for the Heat in Sacramento and Las Vegas, averaging 4.3 PPG, 6.3 RPG and 1.4 BPG in 15.9 MPG.

The 6’11” Alexander went undrafted out of Tennessee. He started as a senior, averaging 7.3 PPG, 6.6 RPG and 1.7 in 23.8 MPG.

The Heat have also signed forward Chris Silva and point guard Jeremiah Martin to similar contracts.

J.J. Redick Signs Two-Year Deal With Pelicans

July 15th, 2019 at 5:17pm CST by Luke Adams

JULY 15, 517pm: Redick’s contract signing is official, according to a team press release.

JUNE 30, 5:03pm: The Pelicans have reached an agreement with veteran sharpshooter J.J. Redick, according to ESPN’s Adrian Wojnarowski, who reports (via Twitter) that Redick will sign a two-year, $26.5MM deal with the club.

It’s a savvy addition for a Pelicans club that looks more intriguing by the day. While the team has added a boatload of talent so far this offseason – including Zion Williamson, Jaxson Hayes, Lonzo Ball, and Brandon Ingram – the roster was still lacking in floor-spacers. Redick will provide that spacing in spades.

Redick, who is entering his age-35 season, is a career 41.3% shooter from beyond the three-point line. Last season in Philadelphia, he averaged a career-best 18.1 PPG and knocked down a career-high 3.2 threes per game at a 39.7% rate.

While the Sixers will lose Redick, they’ve recovered nicely tonight, agreeing to terms with Al Horford and setting up a sign-and-trade deal involving Jimmy Butler that will send Josh Richardson to Philadelphia.

Meanwhile, the Pelicans still have cap room after committing to Redick, but appear set to use most of the rest of it to acquire Derrick Favors from Utah.

Photo courtesy of USA Today Sports Images.

Pelicans Waive Christian Wood

July 15th, 2019 at 4:23pm CST by Dana Gauruder

The Pelicans have waived power forward/center Christian Wood, Shams Charania of The Athletic tweets.

Wood had a non-guaranteed $1,645,357 salary, of which $822,679 would have become guaranteed if he was on the opening-day roster. The Pelicans now have 13 players with fully guaranteed contracts and two others with non- or partial guarantees.

The Bucks waived Wood in March and the Pelicans claimed him. Wood saw spot duty in 13 games with Milwaukee. He played eight games with New Orleans, including two starts, and averaged 16.9 PPG and 7.9 RPG.

By letting go of Wood, New Orleans opens up a spot for Italian power forward Nicolo Melli, who agreed to a two-year contact in late June.

Cavaliers Waive J.R. Smith

July 15th, 2019 at 4:03pm CST by Luke Adams

4:03pm: Despite their best efforts to find a favorable trade involving Smith, the Cavaliers came up empty and have waived the veteran shooting guard, tweets Shams Charania of The Athletic. Smith, who will receive his $4.37MM partial guarantee from the Cavs, is on track to clear waivers on Wednesday.

8:46am: Barring a last-minute trade, the Cavaliers are expected to waive J.R. Smith today, reports Joe Vardon of The Athletic (Twitter link).

As ESPN’s Bobby Marks details (via Twitter), Smith’s $15.68MM salary for 2019/20 is currently guaranteed for $4.37MM. That partial guarantee would increase to $5.12MM if he remains under contract beyond today. His deal would become fully guaranteed if he’s not waived by July 31.

By cutting Smith today, the Cavs could slip about $2.85MM below the luxury tax line, assuming they stretch his partial guarantee across three seasons, Marks notes (via Twitter).

Smith, who turns 34 in September, hasn’t appeared in an NBA game since last November, having reached an agreement to part ways with the rebuilding Cavaliers. However, Cleveland chose not to release him until now because his contract – signed under the old CBA – had the potential to be used in a trade with a team looking to create cap flexibility.

In an article published in March, we explained the appeal of Smith’s partially guaranteed deal, while also outlining why its value as a trade chip may be limited due to the Cavs’ proximity to the tax threshold for 2019/20.

Smith’s contract was originally scheduled to become fully guaranteed on June 30, but he agreed to push his guarantee deadline back in exchange for a slight increase to his partial guarantee. As we relayed over the weekend, Cleveland still had no luck finding a taker for him on the trade market.

Assuming Smith is officially released today, he’ll clear waivers on Wednesday and will become an unrestricted free agent at that point.

Photo courtesy of USA Today Sports Images.

Wizards Sign Justin Robinson

July 15th, 2019 at 3:34pm CST by Luke Adams

As expected, the Wizards have signed undrafted rookie Justin Robinson to an NBA contract. The signing is listed in NBA.com’s transactions log, confirming that it’s now official. Shams Charania of The Athletic first reported Robinson’s agreement with Washington after the draft, tweeting that it would be a multiyear deal.

While the exact terms of Robinson’s contract aren’t yet known, I’d expect it to be worth the minimum salary. Still, using the mid-level exception, the Wizards could offer up to four years. Charania also noted last month that the deal would feature a “substantial” guarantee.

A 6’2″ guard, Robinson averaged 13.5 PPG, 5.0 APG, and 3.2 RPG with a .418 3PT% in 24 games in his senior season at Virginia Tech. He ranked 12th on Jonathan Givony’s list of undrafted prospects at ESPN.com.

If Charania is right that Robinson signed a multiyear deal with a “substantial” guarantee, that suggests the team doesn’t necessarily view him as a prospect who will be released to join the Capital City Go-Go as an affiliate player after attending camp with Washington.

The Wizards currently project to have 13 players on guaranteed contracts, so perhaps Robinson will fill one of the final two roster spots on the 15-man squad when the regular season begins.