Transactions Rumors | Hoops Rumors

KJ Martin Re-Signs With Sixers

July 15th, 2024 at 6:41pm CST by Tristan Tucker

JULY 15: The Sixers have officially re-signed Martin, according to a team press release.

“KJ Martin is a talented young player who brings athleticism and versatility to our front court,” team executive Daryl Morey said. “He’s a fearless competitor who is just scratching the surface of his potential. We’re eager to see his continued growth here in Philadelphia.”

The second year of Martin’s deal is non-guaranteed, Michael Scotto of HoopsHype tweets.

JULY 13: Forward KJ Martin is signing a two-year deal to return to the Sixers, according to ESPN’s Adrian Wojnarowski (Twitter link). Martin is set to earn a maximum of $16MM over the two years of the deal.

While Martin’s production with the Sixers last season was modest — 3.7 points per game in 58 appearances with Philadelphia — re-signing on such a contract allows the Sixers to maintain trade flexibility.

Philadelphia originally acquired Martin as part of the trade that sent James Harden to the Clippers early in the 2023/24 season. Martin didn’t play much for either the Sixers or the Clippers, but he was impressive early in his career with the Rockets. The No. 52 pick in 2020 by the Rockets, Martin averaged 10.5 points and 4.8 rebounds across 206 games in the first three seasons over his career.

Still just 23, Martin can serve as a deep reserve option at the forward position for the Sixers or be used as a trade piece when he becomes eligible to be dealt in January.

As cap expert Yossi Gozlan observes (Twitter link), the Sixers will be over the first apron after they fill out their roster and will not be able to take in more salary than they send out. However, Philadelphia could package Martin’s deal with others to acquire another player making less at the deadline. Alternatively, he could be traded into a team’s cap space and allow the Sixers to duck the luxury tax.

We wrote that such a move was a likely outcome after the Sixers renounced nearly all of their free agent cap holds except for Martin’s earlier this week.

In 266 career appearances with the Rockets, Clippers and Sixers, Martin holds career averages of 8.9 points and 4.2 rebounds.

Knicks Sign Cameron Payne To One-Year Contract

July 15th, 2024 at 6:20pm CST by Dana Gauruder

8:06pm: The Knicks have officially signed Payne, the team’s PR department tweets.

6:20pm: The Knicks are signing reserve point guard Cameron Payne to a one-year contract, Chris Haynes of Bleacher Report and TNT tweets.

The Knicks are using the veteran’s minimum exception to sign Payne, Ian Begley of SNY TV tweets. The deal will be worth approximately just over $3MM.

Payne will immediately jump into the mix for backup minutes behind star floor leader Jalen Brunson.

Payne, 29, will be joining his seventh team since entering the league in 2015. He split his time between the Bucks and Sixers last season.

Milwaukee traded Payne and a 2027 second-round pick to Philadelphia for Patrick Beverley at the trade deadline. With Milwaukee, Payne appeared in 47 games and averaged 6.2 points and 2.3 assists in 14.9 minutes. With the Sixers, Payne saw action in 31 regular-season contests, averaging 9.3 points and 3.1 assists in 19.4 minutes. He also appeared in a handful of Philadelphia’s playoff games.

The addition of Payne makes it less likely that second-round pick Tyler Kolek will play a rotation role in his rookie year. Miles McBride is another candidate for regular minutes among the backcourt reserves.

The Knicks had also expressed interest in free agent point man Tyus Jones, according to Begley, who says that Payne’s playoff experience added to his appeal. The addition of Payne gives the Knicks 13 players on the roster, Begley notes (Twitter link), so at least one more move is coming.

Payne was arrested in Arizona this offseason after he made a false report and would not identify himself.

Hawks Sign Keaton Wallace To Two-Way Deal

July 15th, 2024 at 4:02pm CST by Rory Maher

JULY 15: The signing is official, according to a team press release.

JULY 13: The Hawks are signing free agent guard Keaton Wallace to a two-way contract, agents Max Lipsett and Marcus Monk tell Adrian Wojnarowski of ESPN (Twitter link).

Wallace, 25, spent four years at the University of Texas at San Antonio prior to going undrafted in 2021. He has spent the past three seasons playing in the NBA G League for the Clippers’ and Hawks’ affiliate teams, briefly spending time on a two-way contract with the Clips in 2022/23.

Wallace has yet to make his NBA regular season debut. He is currently playing for Atlanta’s Summer League squad in Las Vegas. In the team’s first game on Friday, a six-point loss to the Wizards, Wallace put up 10 points (on 4-of-8 shooting), four rebounds, six assists (one turnover), two steals and one block in 23 minutes.

In 16 Showcase Cup games with the College Park Skyhawks last season, the 6’4″ Wallace averaged 12.9 PPG, 4.3 RPG, 6.1 APG and 1.6 SPG on .438/.370/.789 shooting (30.0 MPG). He had an assist-to-turnover ratio of nearly 3-to-1, a solid mark for a guard.

If he stays on a two-way deal for the entire ’24/25 season, Wallace will earn a little under $579K. He will be eligible for restricted free agency in 2025, assuming his contract is for one year and he isn’t released before then.

As our two-way contract tracker shows, the Hawks had a pair of two-way openings before Wallace’s addition was reported, so they will soon have just one vacancy. Atlanta has a roster crunch for players on standard contracts, with 15 players on guaranteed deals plus the non-guaranteed salary of Bruno Fernando.

Pelicans Sign Center Karlo Matkovic To Three-Year Deal

July 14th, 2024 at 7:27pm CST by Dana Gauruder

7:27pm: The signing is official, according to a press release from the Pelicans.

7:04pm: The Pelicans are signing 2022 second-round pick Karlo Matkovic to a three-year contract, Shams Charania of The Athletic tweets. The third year will be a team option, Will Guillory of The Athletic tweets.

While Charania pegs the value of the contract at $4.9MM, a three-year, minimum-salary deal for a rookie would be worth approximately $5.4MM, so it sounds like Matkovic is getting the minimum via the second-round exception.

Matkovic provides depth at center for a team that lost Jonas Valanciunas in free agency. He played 34 games for the Slovenian club Cedevita Olimpija Ljubljana last season, then joined the Birmingham Squadron. In 10 games with New Orleans’ G League squad, he averaged 17.3 points, 7.9 rebounds, 1.9 assists and 1.5 blocks in 31.3 minutes per contest.

Matkovic was selected 52nd overall in the 2022 NBA draft by the Pelicans and had remained overseas until his G League stint.

Matkovic, 23, had six points and six rebounds in 16 minutes in the Pelicans’ Summer League opener this weekend.

The low-cost signing will aid New Orleans regarding its luxury tax concerns, John Hollinger of The Athletic tweets. Matkovic will have a first-year salary of $1,157,153 in 2024/25.

Hornets Re-Sign Miles Bridges To Three-Year Deal

July 14th, 2024 at 3:25pm CST by Luke Adams

JULY 14: Bridges officially signed his deal to return to Charlotte, the Hornets announced (Twitter link).

JULY 6: The Hornets are re-signing free agent forward Miles Bridges, sources tell Shams Charania of The Athletic (Twitter link). According to Adrian Wojnarowksi of ESPN (Twitter links), Bridges’ new deal will be worth $75MM over three years and won’t include a team or player option.

After accepting his one-year, $7.9MM qualifying offer as a restricted free agent last summer, Bridges averaged 21.0 points, 7.3 rebounds, and 3.3 assists in 69 games for the Hornets last season, posting a shooting line of .462/.349/.825. His contract gave him veto rights on any trade and he told the team in February that he intended to exercise those rights rather than approve a deal elsewhere.

While that stance was partly about not wanting to lose his Bird rights, Bridges also repeatedly expressed a desire to remain in Charlotte, and that interest was reciprocated by the Hornets’ front office, led by new head of basketball operations Jeff Peterson. The two sides have made good on those public comments by agreeing to terms nearly a week into free agency.

Bridges’ scoring ability, size, and versatility are ideal for an NBA forward, but his market in free agency was almost certainly affected by his off-court history, which includes multiple allegations of domestic violence.

Facing three felony charges after being accused of assaulting his then-girlfriend in front of their two children, Bridges entered a plea of no contest — accepting punishment without formally admitting guilt — to one felony count of injuring a child’s parent in November 2022.

The Hornets forward received three years probation and no jail time as part of the plea deal, which led to a 30-game suspension from the NBA (he was permitted to serve just 10 games of that suspension because he spent the entire 2022/23 season out of the league while his case played out). He subsequently faced three additional criminal counts related to a separate incident, but those were dismissed this February due to insufficient evidence.

Charlotte has been keeping Bridges’ $15MM cap hold on its books during the early part of free agency. The club will use up all of its cap room on other deals before going over the cap to re-sign Bridges using his Bird rights.

Ron Harper Jr. Signs Camp Contract with Celtics

July 14th, 2024 at 12:22pm CST by Alex Kirschenbaum

The reigning champion Celtics are taking a flier on free agent combo forward Ron Harper Jr., having signed the former Raptors two-way player to a non-guaranteed training camp deal, per Keith Smith of Spotrac (Twitter link).

After going undrafted out of Rutgers in 2022, the 6’4″ wing signed a two-way deal with Toronto, appearing in nine games during his rookie season. He agreed to a second two-way deal for 2023/24, as well, but was waived last December after appearing in just one contest for the Raptors.

All told, the 24-year-old has played in 10 NBA contests thus far, averaging 2.0 points on 50% field goal shooting, plus 0.7 rebounds and 0.5 assists a night.

He had a far more prolific role with the Raptors 905, Toronto’s G League affiliate. Harper averaged 16.7 points, 5.1 rebounds, 4.0 assists, 1.2 blocks and 1.0 steals per night on .501/.366/.776 shooting.

Harper evidently impressed Boston enough with his play on the team’s Summer League roster this month to earn a more extended look.

Hornets Sign Taj Gibson To One-Year Deal

July 13th, 2024 at 8:23pm CST by Rory Maher

8:23pm: Gibson’s signing is official, the Hornets announced in a press release.

9:51am: The Hornets intend to sign veteran big man Taj Gibson to a one-year, $3.3MM contract, agent Mark Bartelstein tells ESPN’s Adrian Wojnarowski (Twitter link).

Based on the reported terms, Gibson will receive the veteran’s minimum for a player with 10+ years of experience ($3,303,771), while Charlotte will carry a $2,087,519 cap hit.

The 26th pick of the 2009 draft, Gibson has spent the past 15 seasons in the NBA. He had a long stint with Chicago to open his career before playing for Oklahoma City, Minnesota, New York (twice), Washington and Detroit. He finished the 2023/24 season with the Pistons.

Gibson, 39, is no longer a top-tier reserve or a starter like he was in his prime, but he’s still highly valued for his locker-room presence, professionalism and leadership.

Charlotte has a new front office led by head of basketball operations Jeff Peterson and a new head coach in Charles Lee. The team has repeatedly mentioned work ethic as a point of emphasis this offseason, which is something Gibson is known for.

The 6’9″ forward/center holds career averages of 8.6 PPG, 5.8 RPG and 1.0 BPG in 965 regular season games, including 450 starts (23.5 MPG).

Bulls Waive RaiQuan Gray

July 13th, 2024 at 8:16pm CST by Arthur Hill

The Bulls have opened up a two-way contract slot by waiving RaiQuan Gray, according to NBA.com’s transactions log.

The 25-year-old power forward was acquired from the Spurs in the three-team deal that sent DeMar DeRozan to Sacramento last week. All the teams involved in the trade had to send or receive at least one asset from each other, so Gray was shipped from San Antonio to Chicago to satisfy that requirement.

Gray has seen minimal time in the NBA since being selected by Brooklyn with the 59th pick in the 2021 draft. He appeared in one game after signing a two-way contract with the Nets at the end of the 2022/23 season. He joined the Spurs on an Exhibit 10 contract last fall, but was waived in training camp.

Gray signed a two-way contract covering two seasons with San Antonio in March and appeared in three games. He played 43 G League contests for the Austin Spurs last season, averaging 15.4 points, 6.0 rebounds and 1.7 steals per night.

The move leaves the Bulls with a two-way roster opening as they consider their options at Summer League. Andrew Funk and Adama Sanogo are Chicago’s current two-way players.

Suns Re-Sign Josh Okogie To Two-Year Contract

July 13th, 2024 at 12:55pm CST by Alex Kirschenbaum

JULY 13: The Suns have officially re-signed Okogie to his two-year contract, according to the transaction log at NBA.com.

JULY 11: Free agent wing Josh Okogie has agreed to a two-year, $16MM contract to stay with the Suns, reports Shams Charania of The Athletic (Twitter link).

Sources tell Michael Scotto of HoopsHype (via Twitter) that the second season of the 6’4″ guard/forward’s deal will be non-guaranteed.

According to Charania and Gerald Bourguet of PHX Sports (Twitter links), Okogie had drawn some interest from several other clubs before ultimately deciding to return to Phoenix. Bourguet notes that the Suns used Okogie’s Early Bird rights to bring him back into the fold.

Cap expert Yossi Gozlan tweets that Okogie’s new detail will increase the Suns’ luxury tax penalty by an eye-popping $47MM.

The 25-year-old arrived in Phoenix in the 2022 offseason as a free agent after spending his first four pro seasons with the Timberwolves. Minnesota initially selected him with the No. 20 pick out of Georgia Tech in the 2018 draft.

Okogie has emerged as a valuable role player across two playoff seasons in the competitive Western Conference. In his 60 healthy games last season, Okogie averaged a modest 4.6 points, 2.6 rebounds, 1.1 assists and 0.8 steals in just 16.0 minutes per night, with a shooting line of .417/.309/.745. He is more valued for his multifaceted defense than his scoring, however, a skill set that may be a bit harder to measure.

Pistons Sign Bobi Klintman To Four-Year Deal

July 13th, 2024 at 12:52pm CST by Rory Maher

12:52pm: Klintman’s deal is official, according to the NBA’s transaction log.

11:39am: The Pistons are signing Bobi Klintman to a four-year contract worth just under $8MM, sources tell Shams Charania of The Athletic and Stadium (Twitter link). The first two seasons are fully guaranteed, Charania adds.

Detroit selected Klintman, 21, with the 37th overall pick in last month’s draft. Michael Scotto of HoopsHype first reported that the Pistons were hoping to sign the Swedish forward to a multiyear standard contract.

Scotto confirms Klintman’s salary will be worth more than the minimum in 2023/24 (Twitter link) — a four-year, minimum-salary deal for a rookie would work out to $7,895,796, so it sounds like Klintman will earn an extra $100K or so next season. The Pistons will almost certainly use the second-round exception to sign the 6’9″ combo forward.

After spending his freshman season at Wake Forest in 2022/23, Klintman decided to play in Australia last season as part of the NBL’s Next Stars program. He appeared in 23 games for the Cairns Taipans in ’23/24, averaging 9.7 PPG, 4.8 RPG and 0.8 SPG on .443/.357/.793 shooting (21.3 MPG).