Transactions Rumors | Hoops Rumors

Heat Acquire Jimmy Butler In Sign-And-Trade

July 6th, 2019 at 3:23pm CST by Dana Gauruder

The Heat have officially acquired Jimmy Butler from the Sixers in a sign-and-trade deal that also includes the Trail Blazers and the Clippers, according to press releases from Miami and Philadelphia.

The Heat also acquired big man Meyers Leonard from the Trail Blazers and cash considerations from the Clippers. Miami sent shooting guard Josh Richardson to Philadelphia, center Hassan Whiteside to the Blazers and a conditional first-round pick to the Clippers. The Clippers also received forward Maurice Harkless from Portland and the draft rights to 2017 second-round pick Mathias Lessort from the Sixers.

The Clippers and Blazers have also confirmed the swap.

The 2023 first-rounder that the Heat forwarded to the Clippers, which is lottery-protected through 2025 and unprotected in 2026, was subsequently moved to the Thunder as part of the agreed-upon Paul George blockbuster.

Butler inked a four-year, $141MM contract with the Heat. Miami waived forward Ryan Anderson and stretched his contract in order to stay below the hard cap and complete the sign-and-trade.

“Jimmy’s leadership, tenacity, professionalism, defensive disposition and his ability to create his own shot will improve our roster immediately,” Miami president Pat Riley said in the press release. “Any time you can add a four-time All-Star to your roster, you make that move. Meyers is a versatile big, a great shooter, can play inside and block shots. The addition of both men puts us in a great position to win.”

The disgruntled Butler was dealt by Minnesota to Philadelphia last season. The Sixers wanted to retain Butler but couldn’t convince him to stay and got something for him via the sign-and-trade mechanism. In 65 total games for the Wolves and Sixers last season, Butler averaged 18.7 PPG, 5.3 RPG, 4.0 APG, and 1.9 SPG with a .462/.347/.855 shooting line. Richardson averaged a career-high 16.6 PPG and 4.1 APG last season.

Blazers president of basketball operations Neil Olshey called the acquisition of Whiteside an “impact move for our roster.” The Blazers were looking for a starting center with Jusuf Nurkic on the mend from a serious leg injury.

Lakers To Sign DeMarcus Cousins

July 6th, 2019 at 2:53pm CST by Luke Adams

2:53pm: Wojnarowski passes along an update on Cousins’ salary figure, tweeting that the deal will actually be worth $3.5MM rather than the minimum. So the Lakers will need to use cap space or the room exception for the signing.

2:22pm: Schwartz tells ESPN that Cousins’ deal will be worth just $2.3MM. That sounds like a veteran’s minimum contract, as the big man’s minimum salary this year will be $2,331,593.

1:38pm: The Lakers have reached a deal with perhaps the most notable free agent left on the market, as agent Jeff Schwartz tells Adrian Wojnarowski of ESPN (Twitter link) that DeMarcus Cousins will sign a one-year contract with the Lakers.

Cousins, a two-time All-NBA Second Team center, had to deal with a limited market this summer after a season in which he spent the first half recovering from an Achilles tear, then missed most of the postseason due to a torn quad.

Appearing in 30 regular season games for the Warriors, Cousins still put up impressive per-minute numbers, averaging 16.3 PPG, 8.2 RPG, 3.6 APG, 1.5 BPG, and 1.3 SPG in 25.7 minutes per contest. However, he struggled on defense and didn’t have his old explosiveness.

Still, the Lakers won’t have to pay huge money to roll the dice on Cousins for one year. While we don’t yet know what the 28-year-old’s new contract will be worth, the club is believed to have used up more than two-thirds of its projected $32MM in cap room on reported deals for Danny Green, Kentavious Caldwell-Pope, and Quinn Cook.

In Los Angeles, Cousins will team up once again with his old Pelicans teammate Anthony Davis. According to Wojnarowski (via Twitter), the Heat were among the teams with interest in Cousins, but a handful of Lakers players – including AD – helped sell him on joining the Lakers.

Cousins’ and Davis’ relationship in New Orleans was solid, according to David Aldridge of The Athletic, who tweets that AD’s pitch to Cousins was short and to the point: “Let’s win it all.”

Photo courtesy of USA Today Sports Images.

Heat Waive, Stretch Ryan Anderson’s Contract

July 6th, 2019 at 2:05pm CST by Dana Gauruder

2:05pm: The Heat have formally waived Anderson, the team confirmed in a press release.

12:26pm: The Heat will waive Ryan Anderson and use the stretch provision on the remaining year of the forward’s contract in order to complete the Jimmy Butler sign-and-trade with the Sixers, Ira Winderman of the South Florida Sun Sentinel tweets.

Anderson had a $21,264,635 salary for next season but approximately $15,64MM was guaranteed. By stretching out the guaranteed portion of the contract, the Heat will take cap hits of approximately $5.2MM for the next three seasons. Miami needed to get below the hard cap of $138.9MM that applies to teams that acquire a player via sign-and-trade. Stretching out Anderson’s deal was its simplest means of achieving that goal, as the Heat will drop $1.88MM below that hard cap threshold, ESPN’s Bobby Marks notes.

Anderson was one of the hottest free agents on the market in 2016 and signed a four-year, $80MM with the Rockets. That contract became an albatross after Anderson lost playing time in Houston and he was traded to both the Suns and Heat last season, appearing in just 25 games.

The Heat will apparently hold onto Goran Dragic for the time being, Barry Jackson of the Miami Herald tweets. Dragic, who is due $19.2MM for next season, has been the subject of trade rumors.

Damian Lillard Signs Super-Max Extension With Blazers

July 6th, 2019 at 2:02pm CST by clarkcrum

JULY 6: The Trail Blazers have officially signed Lillard to his super-max extension, the team announced today in a press release.

“Since the day we drafted Damian he has exemplified every quality an organization could hope for in a franchise player,” Olshey said in a statement. “His perpetual leadership, willingness to embrace responsibility for outcome on the floor and ability to set a cultural standard illustrates what it means to be a Portland Trail Blazer and makes us ecstatic he has chosen to extend his contract at the first opportunity.”

JUNE 30: The Trail Blazers and franchise point guard Damian Lillard are working toward an agreement on a four-year, $196MM super-max contract extension, per Shams Charania of The Athletic and Stadium. Brian Windhorst of ESPN is reporting that the two sides have agreed on a deal, with Lillard also set to receive a player option for the 2024/25 season.

The extension will begin during the 2021/22 season. As we relayed yesterday, the projected cap figure for that season is $125MM, meaning that Lillard would earn an estimated $43.75MM in 2021/22, $47.25MM in 2022/23, $50.75MM in 2023/24, and a whopping $54.25MM in 2024/25.

Chris Haynes of Yahoo Sports first indicated back in May that Portland and it’s star guard were working toward an extension. As we wrote then, Lillard’s four-year extension would cover his age 31-to-34 seasons, with the 29-year-old All-Star poised to make nearly $55MM at age 34.

Today, Haynes adds (link) that Lillard, his representatives, and Trail Blazers president of basketball operations Neil Olshey are meeting in Oakland tonight to finalize the maximum-contract extension.

Lillard, coming off one of his best seasons as a pro, averaged 25.8 PPG, 4.6 RPG, and a career-high 6.9 APG in 80 games for Portland on his way to being named All-NBA Second Team for the 2018/19 campaign.

Photo courtesy of USA Today Sports Images.

Lakers Re-Sign Rajon Rondo

July 6th, 2019 at 1:58pm CST by Luke Adams

JULY 8: The Lakers have officially re-signed Rondo, the team announced today in a press release.

JULY 6: After agreeing to terms on new deals for Kentavious Caldwell-Pope and JaVale McGee, the Lakers have struck an agreement to bring back another one of their veteran free agents.

According to ESPN’s Adrian Wojnarowski and Ramona Shelburne (via Twitter), Los Angeles will re-sign point guard Rajon Rondo to a two-year deal. Tania Ganguli of The Los Angeles Times reports (via Twitter) that Rondo will earn the veteran’s minimum on his new contract.

Rondo, 33, is now on track to play for the same team for a second consecutive year for the first time since his days as a Celtic. Since being traded from Boston to Dallas during the 2014/15 season, Rondo has played for the Mavericks, Kings, Bulls, Pelicans, and Lakers.

In his first season as a Laker in 2018/19, the four-time All-Star’s impact was limited by an early-season suspension and then injury issues. He averaged 9.2 PPG, 8.0 APG, 5.3 RPG, and 1.2 SPG with a .405/.359/.639 shooting line in 46 games (29.8 MPG).

In sticking with the Lakers, Rondo will not only rejoin teammates from last season, such as LeBron James and Kyle Kuzma — he’ll also reunite with former Pelicans teammates Anthony Davis and DeMarcus Cousins. All three players spent the 2017/18 season in New Orleans playing together.

Photo courtesy of USA Today Sports Images.

Magic Waive Center Timofey Mozgov

July 6th, 2019 at 1:38pm CST by Dana Gauruder

The Magic have waived center Timofey Mozgov, according to a tweet from the team’s PR department. Mozgov missed all of last season due to a knee injury.

Mozgov’s $16.72MM salary for next season is fully guaranteed and Orlando will use the stretch provision to avoid going over the luxury tax threshold, Josh Robbins of The Athletic tweets. His salary will be stretched at a cost of $5.57MM per year over the next three years. By stretching Mozgov’s contract, Orlando could potentially retain restricted free agent Khem Birch, Robbins adds (Twitter links). Orlando made Birch an RFA by extending a $1.82MM qualifying offer.

The Magic were $3MM over the luxury tax line and a projected $890K below the tax apron prior to waiving Mozgov, according to ESPN’s Bobby Marks. By stretching Mozgov, Orlando falls $8.2MM under the tax and $12MM under the apron, Marks adds.

Mozgov underwent right knee surgery in early January. The Magic acquired him last July as part of a three-way swap with the Bulls and Hornets.

Mozgov, 32, was one of the big winners during the free agent frenzy of 2016, as he signed a four-year, $64MM deal with the Lakers. Buyer’s remorse quickly set in as he only appeared in 54 games with Los Angeles before he was traded to Brooklyn. The Hornets acquired him last summer, then shipped him to Orlando.

Given his injury situation and lack of production in prior years, Mozgov made find it difficult landing another NBA job.

Celtics Trade Aron Baynes, Ty Jerome To Suns For 2020 First-Rounder

July 6th, 2019 at 1:32pm CST by clarkcrum

JULY 6: The trade between the Celtics and Suns is now official, Boston announced today (via Twitter).

JUNE 20: The Celtics, who obtained the No. 24 selection from the Sixers earlier tonight, have agreed to trade the pick to the Suns, who have drafted Virginia point guard Ty Jerome (per Adrian Wojnarowski of ESPN). The Celtics also included big man Aron Baynes in the deal, tweets Shams Charania of The Athletic and Stadium.

According to Adam Himmelsbach of The Boston Globe, Boston received a future draft pick from Phoenix in exchange for the rights to draft Jerome, and both Woj and Tim Bontemps of ESPN (link) report that the Suns are sending the Celtics the Bucks’ 2020 first-round pick. All told, the Suns will obtain both Baynes and Jerome, while the Celtics, who were said to be looking to move on from Baynes, pick up a first-rounder in next year’s draft.

The Bucks, of course, are expected to be one of the better teams in the league next season, so Boston’s selection will likely fall near the end of the first round, but they were evidently willing to wait a year for the first-round pick in order to move Baynes.

ESPN’s cap guru Bobby Marks notes that Phoenix is now down to a projected $14MM in cap space after accounting for Baynes’ salary and the cap hold for Jerome, which will surely curtail the level of free agent point guard Phoenix will be able to pursue on the free agent market this summer.

As for the Celtics, salary cap expert Albert Nahmad (link) notes that by trading Baynes and both the No. 20 and No. 24 picks away, Boston now has the ability to increase its cap room to $34.8MM, if Terry Rozier‘s cap hold is renounced (h/t to Marks).

Suns Acquire Saric, Johnson From Wolves For Culver

July 6th, 2019 at 12:55pm CST by Luke Adams

JULY 6: The Timberwolves have officially acquired the draft rights to No. 6 pick Jarrett Culver in exchange for Saric and the rights to No. 11 pick Cameron Johnson, the team announced today in a press release.

JUNE 20: The Timberwolves and Suns have reached an agreement on a trade, according to ESPN’s Adrian Wojnarowski, who reports (via Twitter) that Minnesota is moving up to No. 6. In exchange for the sixth overall pick, Phoenix is receiving Dario Saric and the No. 11 overall pick, says Woj.

It’s the second trade agreement of the day for the Suns, who also reached a deal to send T.J. Warren and the No. 32 pick to the Pacers. Saric will help fill in the gap in the frontcourt created by Warren’s departure, slotting in as a stretch four alongside franchise center Deandre Ayton.

Saric, 25, averaged 10.6 PPG and 5.6 RPG with a .437/.365/.880 shooting line last season in 81 games for the Sixers and Timberwolves. He was part of the package Philadelphia sent to Minnesota in exchange for Jimmy Butler, and has now been dealt twice in the last year.

Meanwhile, new Timberwolves head of basketball operations Gersson Rosas, who wasn’t part of the front office when the team acquired Saric last fall, is showing right away that he’s not afraid to be aggressive. Minnesota is now in position to potentially draft one of the top point guards of the 2019 class — with the Hawks expected to draft De’Andre Hunter at No. 4, at least one of Darius Garland or Coby White should still be on the board at No. 6.

There have been rumors in recent weeks linking the Timberwolves to point guards, since Tyus Jones and Derrick Rose are headed for free agency and Jeff Teague is entering the final year of his contract. We’ll have to wait to see what Rosas has in mind for the No. 6 pick though.

According to Wojnarowski (via Twitter), Rosas had been trying to move up to No. 4 or No. 5 before ultimately reaching a deal with the Suns for No. 6.

Grizzlies Trade Mike Conley To Jazz

July 6th, 2019 at 12:48pm CST by Luke Adams

JULY 6: The trade sending Conley to the Jazz is now official, per the NBA’s transactions log. Darius Bazley, who was selected with the No. 23 overall pick last month, will be re-routed from Utah to Oklahoma City in a subsequent deal, while Korver will be sent to Phoenix.

JUNE 19: The Grizzlies and Jazz have reached an agreement on a trade that will send standout point guard Mike Conley to Utah, reports Shams Charania of The Athletic (Twitter link).

According to ESPN’s Adrian Wojnarowski (via Twitter), Memphis will receive a package made up of Jae Crowder, Kyle Korver, Grayson Allen, the No. 23 pick in the 2019 draft, and a future first-round pick. Per Wojnarowski (via Twitter), that second first-rounder will be a 2020 pick, which features protections through 2024.

Chris Herrington of The Daily Memphian provides the full details on those protections, tweeting that the Grizzlies will get the pick in 2020 or 2021 if it falls in the 8-14 range. If it doesn’t convey in either of those drafts, it would become top-six protected in 2022, top-three protected in 2023, and top-one protected in 2024.

The deal will be completed once the new league year begins in July for cap reasons, according to Wojnarowski and ESPN’s Bobby Marks (via Twitter). The Jazz will have to absorb Conley using their newly-opened cap room, but won’t necessarily have to waive Derrick Favors‘ non-guaranteed contract to make the deal work, Marks notes (via Twitter).

It’s a huge acquisition for the Jazz, who will be able to pair Conley with Donovan Mitchell in their backcourt, with Favors and Rudy Gobert up front and Joe Ingles providing floor spacing on the wing.

Conley, 31, is coming off perhaps the best season of his NBA career, having averaged a career-high 21.1 PPG to go along with 6.4 APG, 3.4 RPG, 1.3 SPG, and a .438/.364/.845 shooting line.

Utah reportedly tried to land Conley at the trade deadline, putting an offer on the table that featured expiring contracts and a first-round pick, but that wasn’t enough to get Memphis to accept. The Jazz figured to face competition for the point guard from possible suitors like the Pacers, Heat, Celtics, and Mavericks when they circled back this offseason, but they were able to get a deal done early in the summer.

The Jazz can now focus on filling out their roster with complementary players. With Conley’s lucrative contract set to hit their books, they’ll no longer be a player for major free agents, but will have the room exception available. It’s projected to be worth $4.76MM.

Conley is owed $32.5MM in 2019/20 and $34.5MM in 2020/21 before his contract expires in 2021. His deal aligns him with Utah’s other core pieces — currently, Mitchell and Gobert are both on track to reach free agency in 2021 as well.

As for the Grizzlies, they’re expected to shift into rebuilding mode after trading long-time cornerstones Marc Gasol in February and Conley now. They’re poised to select Ja Morant with the No. 2 overall pick in tomorrow’s draft to supplant Conley as their point guard of the future. He and Jaren Jackson Jr. project to be the franchise’s building blocks going forward.

It’s not clear yet whether the Grizzlies intend to keep all the players and draft picks they’re acquiring in exchange for Conley. Crowder and Korver are on fairly modest expiring contracts (Korver’s salary is only partially guaranteed) and could appeal to contenders. Allen and the picks, on the other hand, represent solid assets for Memphis’ rebuild, though David Aldridge of The Athletic (Twitter link) hears that the club will listen to offers for the No. 23 selection.

The Grizzlies are also in position to create a massive traded player exception in the swap, assuming they remain an over-the-cap team. Cap expert Albert Nahmad estimates the value of that exception to be about $25MM (Twitter link).

Photo courtesy of USA Today Sports Images.

Hawks Acquire Allen Crabbe In Trade With Nets

July 6th, 2019 at 11:49am CST by Luke Adams

JULY 6: A month after it was agreed upon, the Nets have officially traded Crabbe to the Hawks along with the No. 17 pick (Nickeil Alexander-Walker) and a lottery-protected first-round pick in exchange for Prince and the Hawks’ 2021 second-rounder, according to press releases from both teams.

Brooklyn will, of course, use its cap room to sign Irving and Durant.

JUNE 6: The Nets and Hawks have agreed to a trade that will send Allen Crabbe, the No. 17 pick in the 2019 draft, and a lottery-protected 2020 first-round pick to Atlanta in exchange for Taurean Prince and a 2021 second-round pick, reports ESPN’s Adrian Wojnarowski (Twitter links).

The move will allow the Nets to clear more than $17MM from their books for the 2019/20 season by swapping Crabbe’s expiring $18.5MM deal for Prince’s ($3.48MM) and clearing the cap hold for the No. 17 pick. That will put Brooklyn on track to enter the offseason with more than $47MM in cap space. The Nets will now have a clearer path to creating two maximum-salary cap slots if they’re willing to renounce D’Angelo Russell‘s cap hold.

[RELATED: Latest On D’Angelo Russell]

The fact that the Nets were willing to agree to move Crabbe so early in the offseason signals that they have big plans for that extra cap room, which is particularly intriguing given the recent rumors linking Kyrie Irving to Brooklyn. According to Wojnarowski (via Twitter), Irving is “serious” about the Nets, and Brooklyn is looking to beat out the Knicks and the rest of the NBA for top free agents this summer.

If Russell is renounced, the Nets would have enough cap space for Irving and another maximum-salary free agent, unless that player has 10+ years of NBA experience (like Kevin Durant). In that scenario, the club would have to make one more modest cost-cutting move.

Besides creating extra cap flexibility, the Nets also pick up a solid young wing with three-and-D potential in Prince. The 25-year-old has averaged 13.9 PPG, 4.3 RPG, and 2.4 APG with a .431/.387/.834 shooting line in 137 games (29.3 MPG) over the last two seasons in Atlanta. He’s extension-eligible this offseason and will be a restricted free agent in 2020 if he doesn’t get a new deal.

From the Hawks’ perspective, acquiring Crabbe in exchange for Prince and their 2021 second-round pick will allow them to pick up two extra first-round selections, which could be used to add two more young prospects to their core or could be dangled in subsequent trade discussions.

Atlanta is now armed with three top-20 picks in the 2019 draft (Nos. 8, 10, and 17). There have been rumors that the Hawks have explored the idea of packaging their two top-10 picks to move up — adding the No. 17 selection to the mix should give the club more leverage in those discussions.

Meanwhile, the on-court impact of swapping out Prince for Crabbe shouldn’t be significant, as they play fairly similar roles. While Crabbe’s lucrative contract isn’t team-friendly, he has still been a very good three-point shooter in recent years, posting a .396 3PT% since signing his four-year deal in 2016, and his deal will expire after the 2019/20 season.

The Hawks’ cap room for 2019 will be cut nearly in half by the deal, but the team still projects to have about $23-25MM in space.

As Bobby Marks of ESPN.com observes (via Twitter), the two teams won’t be able to complete the trade until July, since the Hawks won’t have the cap room necessary to absorb Crabbe’s contract until the new league year begins.

Photo courtesy of USA Today Sports Images.