Transactions Rumors | Hoops Rumors

Cavs Sign Larry Nance Jr. To Four-Year Extension

October 15th, 2018 at 9:08pm CST by Luke Adams

9:08pm: The signing is official, according to the NBA.com transactions log. The contract is four years and $44.8MM, Joe Vardon of The Athletic tweets. Vardon adds (via Twitter) that the deal will have declining annual salaries, so year one will be worth $12.7MM while the fourth-year salary will be just $9.6MM.

3:55pm: The Cavaliers and Larry Nance Jr. have agreed to a rookie scale contract extension, beating today’s 5:00pm CT deadline, reports Chris Haynes of Yahoo Sports (Twitter link). League sources tell Haynes that Nance’s new deal with Cleveland is worth $45MM over four years.

Nance, 25, was acquired by the Cavs at last season’s trade deadline as part of a deal with the Lakers that also sent Jordan Clarkson to Cleveland. The athletic young big man struggled a little to adjust to his new team, playing just 15.4 minutes per game in the postseason, but he provided the Cavs with the sort of energy and athleticism that their frontcourt had been lacking.

For the season, Nance established new career highs with 8.7 PPG, 6.8 RPG, and a .581 FG%, showing an ability to run the floor, finish at the rim, and guard multiple positions on defense. He appeared to have a noticeable impact on defense — the Cavs had a 102.7 defensive rating during his minutes, compared to a 110.9 mark for the rest of the season.

We heard all the way back in June that there was “mutual interest” between the Cavaliers and Nance in a long-term extension, so he always seemed like one of the likeliest candidates among the players eligible for rookie scale extensions to get a deal done. His connection to Cleveland – where his father played and earned multiple All-Star nods – was likely a factor in those extension talks too.

While an average annual value of $11MM+ may seem steep for Nance, it’s not far off from the rookie scale extensions we’ve seen comparable players sign in recent years. When I previewed Nance’s case for an extension in August, I estimated an annual salary in the $12-12.5MM range on a four-year deal.

Photo courtesy of USA Today Sports Images.

Pacers Sign Myles Turner To Four-Year Extension

October 15th, 2018 at 5:20pm CST by Luke Adams

5:20pm: The Pacers have officially finalized Turner’s new deal, issuing a press release to announce the extension. The contract will have flat cap hits of $18MM across four years, starting in 2019/20, according to ESPN’s Bobby Marks, who notes that the $8MM in incentives are classified as unlikely (Twitter link). The deal features no team or player options, adds Michael Scotto of The Athletic (via Twitter).

4:24pm: Turner and the Pacers are now in agreement on a four-year, $72MM extension that can be worth up to $80MM via incentives, reports Wojnarowski (via Twitter).

3:05pm: Turner and the Pacers are still going back and forth on the exact details of a four-year deal in the $70MM+ range, according to ESPN’s Adrian Wojnarowski (Twitter link). Wojnarowski notes that the extension is expected to be completed before today’s 5:00pm CT deadline.

2:47pm: The Pacers have reached an agreement on a rookie scale contract extension for Myles Turner in advance of today’s deadline, reports Shams Charania of The Athletic (Twitter link). According to Charania, Turner will sign a new four-year deal worth $80MM. The extension will begin in 2019/20, keeping the young center off next summer’s restricted free agent market.

The 11th overall pick in 2015, Turner appeared to be on the verge of a breakout heading into the 2017/18 campaign after posting 14.5 PPG, 7.3 RPG, and 2.1 BPG in his second NBA season. However, nagging injuries and the arrival of fellow center Domantas Sabonis helped limit Turner’s impact — he averaged just 12.7 PPG, 6.4 RPG, and 1.8 BPG in 65 games.

By all accounts, Turner had a productive offseason and looks to be healthy and in great shape entering the 2018/19 campaign. The Pacers are clearly confident in the strides that their longest-tenured player has made, based on the reported terms of his new deal.

While we’ll wait on the specifics to see if there are any incentives or options that impact the overall value of Turner’s extension, an average annual value of $20MM per year would top Clint Capela‘s new contract with the Rockets, which maxes out at $90MM over five years with incentives. Turner’s new deal will fall short of the rookie scale extensions signed in recent years by centers like Rudy Gobert and Steven Adams, who got about $24-25MM annually.

Turner’s new extension will cut into Indiana’s cap room for 2019, but the club had less than $40MM in guaranteed salaries on its books for 2019/20 prior to today’s agreement. The Pacers should still have significant space available next July, as contracts expire for veterans like Thaddeus Young, Bojan Bogdanovic, Darren Collison, Tyreke Evans, and Cory Joseph.

Turner is the fourth player to agree to a rookie scale extension this offseason, joining Devin Booker (Suns), Karl-Anthony Towns (Timberwolves), and Justise Winslow (Heat).

Photo courtesy of USA Today Sports Images.

Extension Roundup: Rozier, Portis, Jones, Russell

October 15th, 2018 at 5:15pm CST by Dana Gauruder

Celtics point guard Terry Rozier turned down a rookie scale extension offer prior to Monday’s deadline and will become a restricted free agent next summer, A. Sherrod Blakely of NBC Sports Boston reports. Boston offered Rozier approximately $12MM annually, according to Blakely, but chose to take his chances in free agency. Talks were cordial and the two parties will revisit each other when Rozier hits the market, Adrian Wojnarowski of ESPN tweets.

“I’m in a great situation,” Rozier told Blakely. “My team (representatives) felt it wasn’t good for me to sign an extension right now. It opens my options a little bit, but I’m focused on what’s happening right now.”

Rozier is expected to have multiple suitors even as a restricted free agent, since Kyrie Irving recently announced that he plans to re-sign with the Celtics next summer, Blakely notes. Rozier broke out last season, particularly after Irving went down with a knee injury. He was especially potent in the playoffs, averaging 16.5 PPG, 5.3 RPG and 5.7 APG.

We have more extension decisions:

The Timberwolves and point guard Tyus Jones did not reach a rookie scale extension agreement. Jones will be a restricted free agent, and that’s been the expectation all along, Jon Krawczynski of The Athletic tweets. Minnesota would have to make a $3,573,205 qualifying offer before free agency next summer, otherwise Jones would be unrestricted. Jones saw action in all 82 regular-season games last season, including 11 starts, and averaged 5.1 PPG and 2.8 APG in 17.9 MPG.
The Bulls and forward Bobby Portis couldn’t come to an extension agreement before Monday’s deadline, Wojnarowski tweets. Agent Mark Bartelstein and Chicago GM Gar Forman had lengthy negotiations as the deadline approached, K.C. Johnson of the Chicago Tribune tweets, but couldn’t close the financial gap. “We had very positive talks,” Bartelstein told Johnson. “These are hard extensions to get done.” (Twitter link). Portis will be a restricted free agent if Chicago gives him a $3,611,813 qualifying offer. He averaged 13.2 PPG and 6.8 RPG in 73 regular season games after returning from his eight-game team suspension following his well-publicized dust-up with former teammate Nikola Mirotic.
Nets guard D’Angelo Russell and forward Rondae Hollis-Jefferson did not receive extensions, Michael Scotto of The Athetic tweets. Neither player was aware of Monday’s deadline, according to Scotto, suggesting that the Nets never made a serious pitch to lock them up before free agency. The Nets would have extend a $9,160,706 qualifying offer to Russell to make him a restricted free agent. Hollis-Jefferson’s qualifying offer would be $3,594,369.

Bucks Acquire Jodie Meeks From Wizards

October 15th, 2018 at 4:45pm CST by Luke Adams

4:45pm: The trade is official, according to an announcement from the Bucks (Twitter link). Milwaukee’s announcement notes that Meeks has been placed on the suspended list, allowing him to avoid counting against the Bucks’ roster limit, so it appears he won’t be waived immediately.

3:34pm: The Bucks and Wizards have agreed to a trade that will send Jodie Meeks to Milwaukee along with cash, reports ESPN’s Adrian Wojnarowski (via Twitter). The Bucks will subsequently waive Meeks, Wojnarowski adds.

Previous reports indicated that the Bucks would also receive a future second-round pick as part of the swap, which Woj confirms (via Twitter). According to Jordan Schultz of ESPN (Twitter link), Milwaukee is expected to send out a heavily-protected second-rounder to complete the deal.

The cash the Bucks receive in the deal will likely be enough to cover most or all of Meeks’ salary for 2018/19, so Milwaukee will get a chance to add a second-round pick for essentially nothing. The Wizards already owe their top-55 protected 2020 second-round pick to the Bucks, so the simplest move would be to just remove the protection from that traded pick.

For the Wizards, the motivation is to reduce their projected luxury tax bill — Meeks’ $3,454,500 cap charge would have been partially reduced as a result of his suspension, which still has 19 games left on it, but that contract would still have cost the Wizards exponentially more in tax penalties. By replacing Meeks with a minimum salary player, Washington will save some money, despite sending cash to the Bucks in the trade.

The Bucks will use a $3,384,176 traded player exception created in last November’s Greg Monroe/Eric Bledsoe trade in order to absorb Meeks’ salary. While that trade exception technically isn’t worth as much as Meeks’ cap hit, the NBA’s Collective Bargaining Agreement allows teams to trade for a salary worth the value of the TPE plus $100K. That gives Milwaukee just enough wiggle room on Meeks.

A part-time player in D.C. last season, Meeks averaged just 6.3 PPG on .399/.343/.863 shooting in 77 games before being banned 25 games for violating the league’s anti-drug program. Even after serving the final 19 games of that suspension, he wasn’t expected to be a major part of the Wizards’ rotation in 2018/19. He’ll be on the lookout for a new team once he clears waivers.

Photo courtesy of USA Today Sports Images.

Suns Waive Shaquille Harrison, Darrell Arthur

October 15th, 2018 at 4:43pm CST by Luke Adams

The Suns waived a pair of players on Monday to reach the regular season roster limit, according to Shams Charania of The Athletic, who reports (via Twitter) that Shaquille Harrison and Darrell Arthur have been cut by the team.

Arthur’s release comes as no surprise, since he was never part of the Suns’ plans for this season. Still, by waiving him now, before receiving resolution on their disabled player exception request, the Suns are no longer eligible for that DPE, as Keith Smith of RealGM confirms (via Twitter). Given that there was little evidence that Arthur had recently sustained a season-ending injury, that DPE was unlikely to be approved anyway.

Harrison’s release is a little more surprising, given the Suns’ lack of depth at point guard. However, he was one of three players – along with Richaun Holmes and Isaiah Canaan – who was on a non-guaranteed contract, making him somewhat expendable. The Suns will now retain Canaan, Elie Okobo, and De’Anthony Melton at the point, with combo guard Jamal Crawford set to enter the mix as well.

Speaking of Crawford, the Suns will need to make one additional roster move when he officially signs his contract, which hasn’t happened yet. Davon Reed is expected to be traded or waived to accommodate Crawford.

With today’s moves, the Suns will create $7.5MM+ in additional dead money on their cap for 2018/19 — Harrison had a modest $50K guarantee, which Phoenix will eat, along with Arthur’s $7,464,912 salary.

Blazers Exercise Options On Collins, Swanigan

October 15th, 2018 at 4:31pm CST by Dana Gauruder

The Trail Blazers have exercised their third-year options for the 2019/20 season on big men Zach Collins and Caleb Swanigan, Joe Freeman of The Oregonian tweets. The team has officially confirmed the option decisions.

The cap hit on Collins, who will make $3.63MM in his second NBA season, will be $4.24MM. The cap charge on Swanigan, who will make $1.74MM this season, will be a little over $2MM next season.

Portland already had over $119MM in guaranteed salary commitments on its cap for the 2019/20 season, so the decisions on Collins and Swanigan will add to potential luxury tax issues unless it can move some contracts.

Collins, the 10th overall pick in the 2017 draft, posted modest numbers in his rookie campaign. He averaged 4.4 PPG and 3.3 RPG in 15.8 MPG while making 66 regular-season appearances. He averaged 7.0 PPG and 3.0 RPG in 17.5 MPG during the Blazers’ four postseason games.

Swanigan, the 26th overall selection last summer, averaged 2.3 PPG and 2.0 RPG in 7.0 MPG during 27 regular-season appearances.

The decision to exercise those options shows that the Blazers feel there’s plenty of untapped potential in both players, though they are projected to have reserve roles this season. Collins should see more action with last year’s backup center, Ed Davis, signing with the Nets in free agency.

Rockets Set Roster For Regular Season

October 15th, 2018 at 4:28pm CST by marksuleymanov

OCTOBER 15: The two-way contracts for Edwards and Clark are official, the Rockets confirmed today. Houston’s roster is now set for the regular season.

OCTOBER 13: The Rockets have waived Bruno Caboclo, and forward Tim Bond, along with guards Angel Rodriguez and Brandon Sampson and forward , sources tell Jonathan Feigen of The Houston Chronicle. Additionally, Houston plans to convert Vince Edwards and Gary Clark to two-way players, Feigen adds.

Edwards, 22, was the Jazz’s second-round pick in this year’s draft but was immediately traded to Houston. He saw limited action in the preseason, playing double digits in minutes just once as he posted six points, four rebounds and two blocks in 29 minutes on Tuesday against China’s Shanghai Sharks.

As for Clark, the undrafted forward out of Cincinnati signed with the Rockets and made a case for the team’s final roster spot. Instead, both he and Edwards appears set to split the year between the G League and NBA. Two-way deals permit players to spend up to 45 days in the NBA with the rest coming with the G League affiliate.

Houston elected to keep its 15th roster spot vacant for the time being to allow for both roster and financial flexibility.

Of the four waived players, Caboclo has the most significant NBA experience, appearing in 37 games with the Raptors over the past four seasons. The Rockets signed Rodriguez, Sampson and Bond to Exhibit 10 contracts, so the club will have the opportunity to make them affiliate players with the G League Rio Grande Valley Vipers, assuming they go unclaimed on waivers.

Bulls Claim Tyler Ulis, Give Him Two-Way Deal

October 15th, 2018 at 4:21pm CST by Eric Spyropoulos

OCTOBER 15: The Bulls have officially confirmed that they’ve converted Ulis’ contract into a two-way deal, announcing the move in a press release.

OCTOBER 14: The Bulls have claimed point guard Tyler Ulis off of waivers, according to Jeremy Woo of Sports Illustrated (via Twitter). Ulis was previously with the Warriors throughout training camp but was released this past week.

After getting a larger role than expected during his rookie season with the Suns, Ulis struggled throughout the 2017/18 season, leading to his release from the team. In his first two seasons in the league, Ulis averaged 7.6 points and 4.1 assists per game, but only shot 40.3% from the field and 28% on 3-pointers.

The Bulls already have 15 players on standard NBA contracts, but are only carrying one player (Rawle Alkins) on a two-way deal. Because Ulis was on an Exhibit 10 contract with Golden State, his deal can be converted into a two-way pact, allowing Chicago to avoid making any cuts to accommodate the newly-added point guard. The Bulls will do just that, per Shams Charania of The Athletic (Twitter link).

Ulis will add some depth to a point guard depth chart that features Kris Dunn, Cameron Payne, and Ryan Arcidiacono as the Bulls look to add more young talent throughout their rebuild.

Spurs Waive Manu Ginobili

October 15th, 2018 at 4:19pm CST by Luke Adams

As expected, the Spurs have waived retired guard Manu Ginobili, tweets Shams Charania of The Athletic. The move is a formality in order to reach the regular season roster limit.

Although Ginobili announced his retirement in August, he had one final year on his contract with San Antonio and technically remained a member of the team until today. Like they did with Tim Duncan when he retired, the Spurs released Ginobili and will pay him for one final season following his decision to call it a career. The longtime Spur will count for $2.5MM against the team’s cap in 2018/19.

San Antonio now has 15 players on standard contracts and one more on a two-way deal, so the team is all set to start the season. It will be interesting to see if the Spurs use that second two-way contract slot in order to add some point guard depth in the coming days.

You can check out our full story on Ginobili’s retirement from August right here.

Clippers Trade Wesley Johnson To Pelicans, Cut Two Players

October 15th, 2018 at 4:11pm CST by Luke Adams

4:11pm: The Clippers have officially announced their trade with the Pelicans and confirmed that they’ve waived both Ajinca and Evans. L.A. is now in compliance with the regular season roster limit.

2:19pm: The Clippers and Pelicans have reached a trade agreement that will send Alexis Ajinca to Los Angeles and Wesley Johnson to New Orleans, according to Shams Charania of The Athletic (Twitter link). Marc Stein of The New York Times first reported (via Twitter) that the two teams were in advanced discussions on a swap involving Ajinca and Johnson.

From the Clippers’ perspective, the trade will simply be about saving a little money before they make their final roster cuts. Ajinca ($5.29MM) earns a more modest 2018/19 salary than Johnson ($6.13MM) and both players are on expiring deals.

According to ESPN’s Adrian Wojnarowski (via Twitter), the Clippers will waive Ajinca after acquiring him. 2017 second-round pick Jawun Evans will be Los Angeles’ other cut, Wojnarowski adds. That means that non-guaranteed players Patrick Beverley and Tyrone Wallace will both open the regular season on the Clips’ roster.

There are some teams that like Evans, according to Keith Smith of RealGM.com (Twitter link), but those clubs opted not to trade for the second-year guard, who could draw interest on waivers or as a free agent if he goes unclaimed.

As for the Pelicans, they weren’t expecting to get much out of Ajinca, who missed the entire 2017/18 season with knee issues and still hadn’t been cleared for contact at the start of training camp. By swapping him for Johnson, New Orleans will add some veteran depth at a position of need, without sacrificing future cap flexibility.

Johnson, 31, was the fourth overall pick in the 2010 draft, but has never been more than a role player at the NBA level. Last season, the 6’7″ wing averaged 5.4 PPG and 2.9 RPG with a .408/.339/.741 shooting line and solid defense in 74 games (40 starts) for the Clippers.

Photo courtesy of USA Today Sports Images.