Transactions Rumors | Hoops Rumors

Pacers Acquire Cory Joseph, Will Waive Him

February 8th, 2024 at 5:53pm CST by Dana Gauruder

5:53pm: The trade is official, the Warriors confirmed in a press release (Twitter link).

3:47pm: The Pacers intend to waive Joseph, according to ESPN’s Adrian Wojnarowski (Twitter link). Essentially then, Indiana’s motive in the deal was to sell off the worst of its 2024 second-round picks.

2:23pm: The Pacers are acquiring veteran guard Cory Joseph from the Warriors, according to The Athletic’s Shams Charania. Indiana is sending out a second-round pick for Joseph and cash (Twitter links).

The pick will be in this year’s draft and will be the least favorable of the three second-rounders the Pacers currently control, per Anthony Slater of The Athletic (Twitter links). That second-rounder will likely be Milwaukee’s or Cleveland’s.

The Pacers are receiving $5.8MM in cash from Golden State and will also acquire Charlotte’s top-55 protected 2025 second-rounder, reports John Hollinger of The Athletic (Twitter link).

Golden State will reduce its luxury tax penalty by $13.5MM by lopping off Joseph’s $2MM cap hit, Yossi Gozlan of Hoops Hype tweets. The Warriors now have a $172.8MM projected luxury tax penalty with a $379MM combined payroll and tax payments.

Indiana has a roster spot opening, so it doesn’t need to waive a player to make room for Joseph. The Pacers have plenty of depth at point guard, so it’s unclear whether it has any plans for the 32-year-old. Joseph has appeared in 26 games off the bench this season, averaging 2.4 points and 1.6 assists in 11.4 minutes.

Joseph played the past two seasons and part of the previous campaign with Detroit.

Hornets To Cut James Bouknight

February 8th, 2024 at 4:55pm CST by Luke Adams

The Hornets have decided to part ways with former lottery pick James Bouknight, who will be placed on waivers, according to Shams Charania of The Athletic (Twitter link).

Charlotte has to make multiple cuts today, since the team agreed to trade Gordon Hayward for three players and P.J. Washington for two.

The 11th overall pick in the 2021 draft, Bouknight never developed into a reliable rotation player for the Hornets, averaging 4.8 points and 1.7 rebounds in 11.4 minutes per game across 79 career appearances. His shooting line during that time was just .363/.335/.762.

Bouknight also had some legal troubles after making his NBA debut and has battled injuries. The 23-year-old underwent surgery to repair a meniscus injury in his left knee in October, which delayed his debut this season.

The Hornets declined their fourth-year option for 2024/25 on Bouknight, so he’s on an expiring contract and will count against Charlotte’s cap for $4.57MM in ’23/24. The team won’t be on the hook for any money for him beyond this season.

Bouknight will be eligible to sign with any team after clearing waivers.

Blazers Sign Ashton Hagans On 10-Day Deal

February 8th, 2024 at 4:38pm CST by Dana Gauruder

4:38pm: The Blazers have officially signed Hagans to a 10-day deal, the team announced in a press release. It will cover Portland’s next four games, then expire during the All-Star break.

3:13pm: The Trail Blazers are signing Ashton Hagans on a 10-day contract, ESPN’s Adrian Wojnarowski tweets.

Hagans has been playing for the Blazers’ Remix NBA G League affiliate in Portland. He averaged 15.3 points, 4.8 rebounds, 9.0 assists and 1.8 steals in 15 starts with Remix.

Hagans was waived early in training camp by Portland, then signed with the G League affiliate. Hagans had a two-way contract with Minnesota in 2020/21 but only appeared in two NBA contests. He spent the last two seasons with the Raptors’ and Hornets’ G League teams.

Portland had a roster opening to add the 24-year-old guard and Hagans could see some action with Shaedon Sharpe out indefinitely due to a core muscle injury.

Pistons Waive Killian Hayes

February 8th, 2024 at 4:31pm CST by Luke Adams

4:31pm: The Pistons have officially waived Hayes, the team confirmed today (Twitter link).

12:57pm: Former lottery pick Killian Hayes will be released by the Pistons, according to a report from James L. Edwards III and Shams Charania of The Athletic (Twitter link).

The seventh overall pick in the 2020 draft, Hayes entered the NBA with a reputation for being a solid defender and passer whose offensive game was a work in progress. That’s essentially still the case, as his shooting percentages have increased only marginally over the course of his four NBA seasons.

Hayes averaged 6.9 points, 4.9 assists, and 2.8 rebounds in 24.0 minutes per game across 42 appearances (31 starts) this season, with a shooting line of .413/.297/.660. Those field goal and three-point percentages actually represent career bests.

The Pistons reportedly explored the trade market for Hayes prior to Thursday’s deadline – talking to the Grizzlies, among other teams – but apparently didn’t find a deal to their liking. The team agreed to a series of trades that will bring in seven players while sending out three, so the 22-year-old guard will be a victim of the roster crunch, joining Joe Harris among those waived.

Cutting Hayes and Harris will put the Pistons in position to complete at least one and potentially two of their three reported trade agreements. They’ll need to waive two more players to finalize all three deals, but those last two cuts could come from their group of newly acquired players.

Hayes will be eligible to sign with any NBA team if and when he clears waivers, since his salary is well shy of this season’s non-taxpayer mid-level exception.

Pistons Waive Joe Harris

February 8th, 2024 at 4:30pm CST by Luke Adams

4:30pm: As expected, the Pistons have officially waived Harris, per an announcement from the team (Twitter link).

12:17pm: The Pistons will waive veteran forward Joe Harris, according to Shams Charania of The Athletic (Twitter link).

Acquired from Brooklyn along with a couple second-round picks in a salary-dump trade last summer, Harris didn’t play much in Detroit this season, averaging just 2.4 points per game in 16 appearances (10.6 MPG), with a .359/.333/.500 shooting line. The 32-year-old was one of the NBA’s best three-point shooters for several years with the Nets, but ankle issues have slowed him down in recent seasons.

The Pistons have reached three separate trade agreements in the last 24 hours that will see them acquire seven total players while sending out just three, so some cuts were necessary.

If Detroit plans to waive Danuel House, Shake Milton, and Troy Brown after acquiring them from Philadelphia and Minnesota, respectively, Harris is the only player from the current roster who would need to be released — the Pistons could complete those trades one at a time and waive players as they go, creating enough roster space to finalize their two-for-four deal with New York.

However, if the Pistons intend to keep one or more players from that House/Milton/Brown group or if they want to complete the Knicks trade first, at least one more cut will be necessary.

Once Harris clears waivers, he won’t be eligible to sign the Celtics, Nuggets, Warriors, Clippers, Heat, Bucks, or Suns due to the new rule prohibiting teams whose salaries are above the first tax apron from signing a player whose pre-waiver salary exceeded the mid-level exception ($12.4MM). Harris’ salary for this season is $19.9MM.

Nets Waiving Thaddeus Young

February 8th, 2024 at 4:25pm CST by Tristan Tucker

The Nets aren’t keeping Thaddeus Young after acquiring him from Toronto in the swap that brought Dennis Schröder to Brooklyn. According to HoopsHype’s Michael Scotto (Twitter link), Brooklyn is waiving Young.

The move will clear the roster space necessary to complete Brooklyn’s Royce O’Neale trade. In that move, the Nets are bringing in Keita Bates-Diop and Jordan Goodwin, so they needed to make a cut to avoid exceeding the 15-man roster limit.

Young is on an expiring $8MM contract, meaning if he clears waivers, he’s among the appealing veteran options who are eligible to sign with teams over the tax apron since his contract fall short of the mid-level exception. He won’t be eligible to sign with the Raptors, but any other team could be an option.

Young, 35, averaged 5.0 points, 3.3 rebounds and 2.0 assists this season across 23 games (six starts) with the Raptors this season. Toronto originally acquired Young in a 2022 deadline deal, later re-signing him. He averaged 5.0 PPG in parts of three seasons with the Raptors.

Pistons Trade Bojan Bogdanovic, Alec Burks To Knicks

February 8th, 2024 at 3:09pm CST by Rory Maher

3:09pm: The trade is official, per announcements from the Pistons and Knicks.

The two second-rounders headed to Detroit in the deal will be 2028 and 2029 picks, tweets Fred Katz of The Athletic. Those picks will be New York’s own, according to Omari Sankofa II of The Detroit Free Press.

The Pistons didn’t officially announce any cuts in their press release, but previous reporting indicated they’re waiving Killian Hayes, Joe Harris, and the newly acquired Danuel House. Arcidiacono will likely also be released after being acquired from New York, per James L. Edwards III of The Athletic (Twitter link).

10:27am: The Pistons and Knicks are finalizing a trade that will send Bojan Bogdanovic and Alec Burks to New York in exchange for Quentin Grimes, Evan Fournier, Malachi Flynn, Ryan Arcidiacono, and two second-round picks, according to Adrian Wojnarowski of ESPN (Twitter link).

Bogdanovic (41.5%) and Burks (40.1%) are two strong three-point shooters who will help bolster New York’s rotation, particularly when it comes to scoring and spacing the floor. Burks, 32, is an impending unrestricted free agent, while Bogdanovic’s $19MM salary for 2024/25 is only partially guaranteed for $2MM.

However, as Fred Katz of The Athletic tweets, the Knicks are expected to fully guarantee Bogdanovic’s contract for next season, possibly to flip him to a new team in the summer or during the ’24/25 season. Burks, meanwhile, was favorite of head coach Tom Thibodeau during his first stint in New York from 2020-22, Katz observes (via Twitter).

Once the deal is official, the Knicks will have two open roster spots and will be about $2.5MM below the luxury tax threshold, tweets ESPN’s Bobby Marks. They’ll have plenty of flexibility to sign players on the buyout market, Marks observes, since they’re well below the first tax apron.

Flynn cannot be aggregated with other salaries in a trade, but the outgoing contracts of Grimes, Fournier and Arcidiacono are just enough to cover the money owed to Bogdanovic and Burks. That means the Knicks will create a traded player exception worth $3,873,025, which is Flynn’s cap hit.

According to Ian Begley of SNY.TV (Twitter link), the Knicks were motivated to add depth on the wing in part due to concern over OG Anunoby‘s right elbow injury. As Begley notes, New York recently changed Anunoby’s injury status from elbow inflammation to bone spur irritation. Anunoby has missed the past five games with the injury and will miss his sixth straight contest tonight against Dallas.

As for the Pistons, they’ve been extremely active leading up to the 2:00pm CT deadline, and they will need to cut two players to complete this trade.

James Edwards III of The Athletic hears rival teams were unwilling to meet Detroit’s asking price for Bogdanovic, and the Pistons felt Grimes was more valuable than any picks being offered (Twitter link). According to Edwards, the Knicks “have been unwilling to trade firsts to any team,” with New York likely saving its draft arsenal to chase a star player in the future.

That reporting suggests the trade, from Detroit’s perspective, could be viewed as Bogdanovic for Grimes, with Burks netting two second-round picks.

Grimes, 23, is in the third season of his rookie scale contract, and was reportedly open to a change of scenery after having his role reduced in 2023/24. He showed plenty of 3-and-D upside last season, however, averaging 11.3 points, 3.2 rebounds and 2.1 assists while frequently defending opposing teams’ top perimeter scorers. He’ll make $4.3MM next season and will be eligible for a rookie scale extension in the 2024 offseason.

While Grimes was a regular contributor for New York, Fournier, Flynn and Arcidiacono hardly played at all for the Knicks. Fournier has been openly seeking a trade for well over a year — his wish was finally granted, but it’s unclear if he’ll have a role for the Pistons. They’ll hold a $19MM team option on his contract for next season, which could be useful for salary-matching purposes in the future, if they decide to retain him.

Raptors Trade Dennis Schröder, Thaddeus Young To Nets

February 8th, 2024 at 2:56pm CST by Rory Maher

2:56pm: The trade is official, according to announcements from both the Raptors and Nets. As we outlined in separate stories, Brooklyn waived Harry Giles to complete the deal, while Toronto immediately released Dinwiddie.

11:47am: The Raptors and Nets have agreed to a trade, according to ESPN’s Adrian Wojnarowski, who reports (Twitter links) that guard Dennis Schröder and forward Thaddeus Young will be heading to Brooklyn, while guard Spencer Dinwiddie is being sent to Toronto.

A free agent addition in the offseason, Schröder is making $12.4MM this season and has a $13MM cap hit for 2024/25. Young ($8MM) and Dinwiddie ($20.36MM) are both on expiring contracts. Dinwiddie will earn a $1.5MM bonus if he appears in two more games this season, tweets ESPN’s Bobby Marks.

According to Jake Fischer of Yahoo Sports (Twitter link), while Dinwiddie didn’t formally request a trade out of Brooklyn, both he and the Nets are happy he’s headed out of town.

The Nets can acquire Schröder using their $18.1MM traded player exception, which would have expired tomorrow, observes cap expert Yossi Gozlan (Twitter link). They’ll create a new TPE worth $20.36MM — Dinwiddie’s outgoing cap hit — and it will be good until February 8, 2025.

It’s essentially a salary dump for the Raptors, since moving off Schröder’s salary for next season will give Toronto more financial flexibility to re-sign its own impending free agents. Guard Immanuel Quickley (restricted) and newly-acquired big man Kelly Olynyk (unrestricted) fall into that category.

Schröder has had a solid season, averaging 13.7 PPG, 6.1 APG and 2.7 RPG on .442/.350/.852 shooting in 51 games (30.6 MPG), including 33 starts. But the 30-year-old was clearly was no longer in Toronto’s long-term plans, particularly after acquiring Quickley from New York in a previous in-season trade.

As for Young, the longtime veteran forward was valued for his locker room presence and production when called upon. However, he’s 35 years old and doesn’t fit the Raptors’ timeline. This will be Young’s second stint with the Nets, having previously played for Brooklyn from 2015-16.

Dinwiddie, 30, has averaged 12.6 PPG, 6.0 APG and 3.0 RPG in 48 games (30.7 MPG) this season, but has struggled with efficiency (.391/.320/.781 shooting line, .530 true shooting), and isn’t a great defender. It’s unclear how much of a role he’ll have with the Raptors, but it’s worth noting that Dinwiddie has performed well as a secondary and tertiary creator in the past.

Schröder will be a major upgrade for the Nets on the defensive end, and they won’t have to worry about losing him for nothing in free agency, since he’ll be under contract until 2025.

Raptors Acquire Olynyk, Agbaji From Jazz For 2024 First-Round Pick

February 8th, 2024 at 2:52pm CST by Luke Adams

2:52pm: The trade is official, the Raptors and Jazz announced in a pair of press releases.

9:38am: The Jazz have agreed to trade center Kelly Olynyk and wing Ochai Agbaji to the Raptors, sources tell ESPN’s Adrian Wojnarowski (Twitter link). According to Wojnarowski, Utah will receive Kira Lewis, Otto Porter, and a 2024 first-round pick from Toronto in the deal.

That 2024 first-rounder will be the least favorable of the Thunder’s, Clippers’, Rockets’, and Jazz’s picks, per Wojnarowski (Twitter link), so it figures to land near the end of the first round. Utah’s pick is top-10 protected, meaning there’s a scenario in which the Jazz end up hanging onto their own first-rounder and receive a separate pick (likely OKC’s or L.A.’s) as a result of this deal.

While it’s a little surprising to see a lottery-bound team like the Raptors surrender a first-round pick, the deal will net them a solid big man in Olynyk and a promising young prospect in Agbaji, who was the 14th overall pick in the 2022 draft.

Assuming the Raptors intend to hang onto Olynyk, the Toronto native will become the ninth Canadian to play for the franchise and will provide some depth in a frontcourt that’s relatively thin behind Jakob Poeltl. A forward/center who can stretch the floor, Olynyk is averaging 8.4 points, 5.1 rebounds, and a career-high 4.4 assists in 20.4 minutes per game across 50 appearances this season. The 32-year-old has made 42.9% of his three-pointers, boosting his career rate to 37.0%.

Olynyk is on an expiring contract, but the Raptors will control his Bird rights this offseason, giving them the ability to go over the cap to re-sign him or to figure out a sign-and-trade.

As for Agbaji, the young wing hasn’t shown much offensive game since entering the league last season, but is a solid defender who still has room to grow and is under contract through 2026. The Raptors have liked Agbaji for a while, tweets Josh Lewenberg of TSN.ca, and presumably view him as the type of player who can develop alongside the team’s young core of Scottie Barnes, Immanuel Quickley, and RJ Barrett.

The Jazz and Raptors had reportedly been discussing a similar deal that would have included Bruce Brown – rather than a first-round pick – going to Utah. However, Toronto controlled an excess of picks in a 2024 draft that the club isn’t believed to be especially high on, while the Jazz are at risk of losing their own ’24 first-round selection, so the inclusion of the low first-rounder makes some sense.

The Raptors still own the Pacers’ first-round pick and the Pistons’ second-round pick in 2024, and would hang onto their own first-rounder if it ends up in the top six.

Lewis’ salary couldn’t be aggregated in a trade after being acquired from Indiana last month, but that won’t be necessary, since Porter’s $6.3MM cap hit is enough on its own to match Olynyk’s $12.2MM incoming salary, while Lewis’ $5.7MM salary will be used to match Agbaji’s $4.1MM cap hit.

It remains to be seen whether the Jazz will hang onto Lewis and/or Porter for the rest of the season. Lewis is a former lottery pick and Porter has had some strong seasons as a three-and-D wing, but both players have battled injuries in recent years and haven’t played much outside of garbage time in 2023/24.

Grizzlies Waive Victor Oladipo

February 8th, 2024 at 2:50pm CST by Rory Maher

The Grizzlies have waived Victor Oladipo, reports Shams Charania of The Athletic (Twitter link).

The news was expected, as Chris Herrington of The Daily Memphian reported yesterday that the Grizzlies were planning to release Oladipo if they were unable to flip him to another team before today’s 2:00pm CT trade deadline.

A former two-time All-Star, Oladipo’s once-promising career has unfortunately been derailed by a series of major leg injuries. He tore his left patellar tendon in the playoffs last April and has yet to play in 2023/24. Over the past five seasons, he has only appeared in 102 regular season games.

Oladipo was traded from Houston to Memphis last week in the deal that sent injured center Steven Adams to the Rockets. The Grizzlies also received three second-round picks.

Assuming he clears waivers, which is a virtual certainty, Memphis will be on the hook for Oladipo’s full $9.45MM salary.