Transactions Rumors | Hoops Rumors

Bulls Acquire Timothe Luwawu-Cabarrot, Waive Carmelo Anthony

February 1st, 2019 at 1:03pm CST by Luke Adams

1:03pm: The Bulls have issued a press release confirming that they’ve sent a heavily protected 2020 second-round pick to the Thunder in exchange for Luwawu-Cabarrot and cash. The team has also officially waived Anthony, lining him up to clear waivers on Sunday.

Chicago plans to hang onto Luwawu-Cabarrot, per K.C. Johnson of The Chicago Tribune (Twitter link).

12:39pm: The Bulls and Thunder are in the process of finalizing a trade that will send Timothe Luwawu-Cabarrot and cash considerations to Chicago, reports Shams Charania of The Athletic (Twitter link).

Chicago currently has a full 15-man roster, so the club will need to trade or waive a player to finalize the deal. It sounds like that player will be Carmelo Anthony, according to ESPN’s Adrian Wojnarowski (Twitter link). Anthony had remained in limbo after being sent from Houston to Chicago in a trade last month, but appears set to become a free agent, assuming he goes unclaimed on waivers. The Lakers remain a “real possibility” for Carmelo, Woj adds (via Twitter).

The trade itself between the Bulls and Thunder appears financially motivated. Oklahoma City will be on the hook for a huge tax bill at season’s end, so clearing TLC’s $1,544,951 salary will save the franchise exponentially more than that in tax penalties. ESPN’s Bobby Marks pegs the tax savings at $7.3MM.

As for the Bulls, they’ll likely receive enough cash from the Thunder to cover more than Luwawu-Cabarrot’s remaining salary, so they’re essentially being paid to use a spot on their 15-man roster — the deal is similar to the financially–motivated swaps Chicago made with the Rockets earlier in the season. It’s not clear if the Bulls will hang onto TLC, an unrestricted free agent in 2019, for the rest of the season or if they’ll replace him with another player after trading for him.

The 24th overall pick in the 2016 draft, Luwawu-Cabarrot hasn’t developed into a reliable NBA rotation piece. In 142 career games (14.9 MPG) for Philadelphia and Oklahoma City, he has averaged 5.5 PPG and 1.7 RPG with a .385/.317/.829 shooting line.

The Thunder will dip to 13 players as a result of the deal and will have two weeks to add a 14th man to their roster. By signing a player – or player(s) – to a 10-day contract or a prorated rest-of-season deal, the club will save some money on its year-end tax bill. I explained this concept last week when I identified Luwawu-Cabarrot as a potential trade candidate.

Meanwhile, the Bulls will use part of the $2.73MM trade exception they generated earlier this season in the Justin Holiday trade in order to absorb Luwawu-Cabarrot’s salary, Marks notes. The Thunder, in turn, will create a TPE worth TLC’s salary ($1,544,951).

Mavericks Waive Ray Spalding

January 31st, 2019 at 5:30pm CST by JD Shaw

The Mavericks waived forward Ray Spalding after agreeing to a trade with New York on Thursday, the team announced in a press release. He’ll clear waivers and become a free agent on Saturday, assuming no team places a claim.

Having acquired four players, including Kristaps Porzingis, in a blockbuster deal with the Knicks, the Mavs only sent out three players in the swap, meaning the club had to waive a player to avoid exceeding the 15-player max. Spadling was ultimately the odd man out.

Spalding appeared in just one game with Dallas and was selected with the No. 56 pick in 2018. His rights were traded to Dallas from Philadelphia on draft night, with the 21-year-old now set to enter unrestricted free agency during his rookie season.

Spalding, who spent four seasons at Louisville, has spent most of the 2018/19 season with the Texas Legends — G League affiliate of the Mavericks. He’s held per-game averages of 15.9 points, 9.3 rebounds and 2.2 blocks in 29 games with Texas on the year.

Knicks Trade Kristaps Porzingis To Mavericks

January 31st, 2019 at 5:04pm CST by Luke Adams

The Knicks have traded Kristaps Porzingis, Courtney Lee, Trey Burke and Tim Hardaway Jr. to the Mavericks for Dennis Smith Jr., DeAndre Jordan, Wesley Matthews and two first-round picks, both teams announced in press releases Thursday.

News of this deal comes just shortly after word broke that Porzingis had met with Knicks management to express frustration with the direction of the organization, leaving the team with the impression that he wanted to be moved. While Porzingis’ preference to be dealt may have jump-started these talks, it didn’t take the Knicks long to find a potential deal they liked, suggesting that they may not have been fully invested in the relationship either.

“As is standard for this time of year, we were exploring various options on potential trades,” Knicks general manager Scott Perry said in a statement. “Considering the uncertainty regarding Kristaps’ free agent status and his request today to be traded, we made a trade that we are confident improves the franchise.”

From the Knicks’ perspective, moving on from Porzingis by attaching two unwanted multi-year contracts to him creates some tantalizing free agent possibilities for the franchise. By replacing Porzingis’ cap hold ($17.09MM), Hardaway’s salary ($18.15MM), and Lee’s salary ($12.76MM) with Smith’s modest $4.46MM salary on the 2019/20 books, the Knicks will reduce their commitments by approximately $43.5MM, which should open up enough cap room for two maximum-salary free agents.

The Knicks’ only players with guaranteed contracts for 2019/20 are Smith, Frank Ntilikina, Kevin Knox, and Mitchell Robinson. Armed with those youngsters and a likely top-five pick, New York will enter free agency with the ability to potentially land two free agents from a group that includes Kevin Durant, Kemba Walker, Kyrie Irving, and others.

Besides creating substantial cap flexibility, the Knicks will acquire Smith, a second-year guard who wasn’t happy with his role in Dallas. The ninth overall pick in the 2017 draft, DSJ saw his responsibilities dialed back due to Luka Doncic‘s emergence this season. Smith has still built upon some of last year’s numbers, averaging 12.9 PPG, 4.3 APG, and 3.0 RPG with a .440/.344/.695 shooting line. He now appears poised to take over point guard duties in New York, a year after the team passed on him to draft Ntilikina.

New York also acquired a 2021 unprotected first-round pick and 2023 protected first-round pick (1-10) in the trade agreement, ESPN’s Adrian Wojnarowski and Ian Begley reported.

“We feel like we did the right thing,” Knicks president Steve Mills said, according to Begley. “When you try to think about how you want to build your team for the long term, you don’t want to commit a max (contract) to a player who clearly says to you he doesn’t want to be here.”

Jordan and Matthews, who are on pricey expiring deals, likely don’t have a future in New York. Rival executives expect the Knicks to explore the trade market over the next week for potential deals involving those veterans, according to Jake Fischer of SI.com (Twitter link). Both Fischer and ESPN’s Bobby Marks (Twitter link) suggest that Jordan and Matthews will be intriguing buyout candidates if they’re not flipped by the Knicks.

Perry emphasized in a conference call Thursday that both Jordan and Matthews could have a positive impact on their young players for the remainder of the season, as relayed by Begley. This, of course, is provided they aren’t traded or bought out from their current deals. This statement drew a questioning response on social media from Knicks center Enes Kanter, another candidate to be traded by the deadline.

Meanwhile, the deal represents a huge swing for the Mavericks, who will pair Porzingis with Doncic with an eye toward keeping both players in Dallas for years to come. By taking on the multiyear contracts for Hardaway and Lee in exchange for Jordan and Matthews, Dallas will almost certainly give up its chance to create cap room in 2019, but will be on track to open up significant space in 2020, while Doncic is still on his rookie contract. Porzingis posted a clip of him shaking hands with Doncic after the trade became official, clearly excited for his new partnership in Dallas.

An All-Star a year ago, Porzingis averaged 22.7 PPG, 6.6 RPG, and 2.4 BPG with a .439/.395/.793 shooting line in 48 games in 2017/18, displaying franchise-player potential. However, a torn ACL ended his season early and has sidelined him for the entire 2018/19 campaign so far. He’ll be a restricted free agent this summer, at which point he could sign his one-year qualifying offer, sign an offer sheet with another team, or negotiate a new deal directly with the Mavs.

Dallas also created a $12.9MM trade exception in the agreement, according to ESPN’s Adrian Wojnarowski (Twitter link).

Additionally, Marks notes (via Twitter) that the two teams will have to account for Hardaway’s 15% trade bonus, which is currently worth $3.75MM. Assuming THJ doesn’t waive it, his cap hits will increase by $1.875MM annually for this season and next, and the Knicks will have to pay the bonus money.

Photo courtesy of USA Today Sports Images.

Wizards Sign John Jenkins To 10-Day Deal

January 31st, 2019 at 1:09pm CST by Austin Kent

JANUARY 31: The Wizards have officially signed Jenkins to a 10-day contract, the club announced today in a press release.

JANUARY 30: The Wizards are finalizing a 10-day deal with guard John Jenkins, Shams Charania of The Athletic reports. Jenkins last saw NBA action with the Suns during the 2016/17 season.

The 27-year-old journeyman has previously played with the Mavs and Hawks in addition to Phoenix, averaging 5.1 points per game through 145 big league contests and eight starts.

Since 2017, Jenkins has bounced around the G League and Spain. In 19 games with the Westchester Knicks this season, he averaged an impressive 24.8 PPG on .473/.431/.928 shooting.

The former first-rounder will now look to demonstrate an ability to pitch in for a short-handed Wizards club from on the perimeter, competing mostly with two-way guard Jordan McRae for opportunities behind starter Bradley Beal. Jenkins is expected to take over the roster spot vacated by Gary Payton II, whose 10-day deal has expired. The Wizards have one additional opening on their 15-man roster.

Wolves Sign Isaiah Canaan To 10-Day Deal

January 30th, 2019 at 3:20pm CST by ChrisCrouse

Jan. 30: The Wolves have officially inked Canaan to a 10-day deal, the team’s media department announced in a press release.

Jan. 29: The Timberwolves will sign Isaiah Canaan to a 10-day deal, according to Shams Charania of The Athletic (Twitter link). He’s expected to be available for Wednesday’s tilt vs. the Grizzlies.

Minnesota is down a few players with Tyus Jones (ankle) and Jeff Teague (foot) out with injuries. Derrick Rose has joined them on the sidelines for the past two games with an ankle injury of his own, leaving Jerryd Bayless as the only experienced point guard healthy enough to suit up.

Canaan spent time with the Suns in each of the past two seasons, playing 19 games during the 2017/18 season before being waived, and 19 games this season before the team waived him again. In total, he’s played in 224 NBA games over the past six seasons, averaging 8.4 points and 1.9 assists per contest.

Emanuel Terry Signs 10-Day Deal With Suns

January 27th, 2019 at 1:26pm CST by Arthur Hill

1:26pm: Terry has officially signed his 10-day deal with the Suns, the team announced on Sunday. Terry will wear uniform No. 10 with the club.

11:52am: The Suns will sign rookie Emanuel Terry to a 10-day contract, tweets Gina Mizell of The Athletic.

The 23-year-old power forward played for the Nuggets’ entry in the Las Vegas Summer League, but was waived by Denver in early October. Three days later, he signed an Exhibit 10 training camp contract with the Cavaliers, but failed to make the team and has been playing in the G League. Terry was a Division II All-American last season at Lincoln Memorial University.

The expiration of Quincy Acy‘s second 10-day contract gives Phoenix a roster opening to add Terry.

Cavaliers Sign Kobi Simmons To 10-Day Contract

January 27th, 2019 at 9:58am CST by Arthur Hill

Kobi Simmons has signed a 10-day deal with the Cavaliers, the team announced on its website.

The 21-year-old guard has spent the season with Cleveland’s G League affiliate in Canton after the Cavs waived him in training camp. Simmons averaged 17.0 points, 3.9 rebounds and 3.6 assists in 30 games for the Charge.

After going undrafted out of Arizona in 2017, Simmons signed a two-way deal with the Grizzlies. He appeared in 32 games for Memphis last season, starting 12, and averaged 6.1 points in about 20 minutes per game. He was released during the summer.

The addition of Simmons ensures that Cameron Payne is done in Cleveland, at least for now. His second 10-day contract expired on Friday.

Cavs Cut Ties With Cameron Payne

January 25th, 2019 at 9:43pm CST by Dana Gauruder

The Cavaliers will not offer Cameron Payne a standard contract, Chris Fedor of the Cleveland Plain Dealer reports.

Payne’s second 10-day contract expired on Friday night and the Cavaliers had to either sign him for the remainder of the season or cut ties with the point guard.

Cleveland wanted to maintain roster flexibility heading into the trade deadline, according to Fedor.

“I feel really good about how I played here,” Payne told Fedor. “It’s understandable that they want the roster spot.”

The Cavaliers will likely sign another player to a 10-day contract. Payne played 10 games with the Cavs and averaged 8.2 PPG and 2.6 APG in 19.6 MPG. He played 31 games with the Bulls earlier this season but was waived in early January.

Sixers Sign Corey Brewer To Second 10-Day Deal

January 25th, 2019 at 10:48am CST by JD Shaw

JANUARY 25: The Sixers have officially re-signed Brewer, the team announced today in a press release. Once his second 10-day deal expires, Philadelphia will have to decide whether or not to sign Brewer for the rest of the season.

JANUARY 24: The Sixers will sign forward Corey Brewer to a second 10-day contract on Friday, Keith Pompey of the Philadelphia Inquirer tweets.

Brewer, 32, has averaged 7.7 points, two rebounds and 23 minutes in three games with the team, starting in the last two contests against Houston and San Antonio. Brewer was tasked with defending the likes of James Harden and DeMar DeRozan during his starts, impressing the team with his competitive spirit and physical play.

Brewer has made stops with Minnesota, Dallas, Denver, Houston, Los Angeles and Oklahoma City over the course of his 12-year career. The Sixers originally signed him to a 10-day deal on January 15.

Nets Sign Mitch Creek To 10-Day Contract

January 25th, 2019 at 9:31am CST by Luke Adams

The Nets have filled the open spot on their 15-man roster, announcing today in a press release that they’ve signed Australian forward Mitch Creek to a 10-day contract, promoting him from their G League affiliate in Long Island.

Creek, a longtime standout wing for the Adelaide 36ers in Australia, averaged 14.8 PPG, 6.0 RPG, and 2.5 APG in 31 games for the 36ers last season, earning a spot on the All-NBL Second Team. During the 2018 offseason, he elected to pursue his NBA dreams, joining the Mavericks for Summer League play and then the Nets for training camp.

Although he didn’t make Brooklyn’s regular season roster, Creek landed with the club’s G League affiliate and has played well for the Long Island Nets, averaging 14.4 PPG, 5.4 RPG, and 2.2 APG with a .548 FG% in 25 games.

Creek will get at least a 10-day audition for the NBA club, filling the roster opening created when Brooklyn waived Kenneth Faried last week.