Transactions Rumors | Hoops Rumors

Sixers Waive Montrezl Harrell

October 23rd, 2023 at 3:44pm CST by Luke Adams

3:44pm: The Sixers have officially waived Harrell, the team confirmed in a press release.

3:02pm: The Sixers are waiving big man Montrezl Harrell in order to reach the regular season roster limit, sources tell Shams Charania of The Athletic (Twitter link).

Philadelphia had been carrying 16 players on standard contracts and needed to get down to 15 before opening night. Harrell was one of 14 Sixers players whose salary for 2023/24 is fully guaranteed, but he underwent knee surgery in August after tearing his right ACL and medial meniscus, making him an obvious candidate to be released.

Harrell wasn’t a significant part of Philadelphia’s rotation last season, averaging 5.6 points and 2.8 rebounds in just 11.9 minutes per game across 57 appearances.

That made it a bit of a surprise when the 29-year-old re-signed with the 76ers on a one-year, minimum-salary deal this summer, especially since the club also added Mohamed Bamba and Filip Petrusev to its frontcourt while retaining restricted free agent Paul Reed.

It’s possible that Harrell anticipated the team’s head coaching change could create an opportunity for more minutes. In his previous five seasons, he had put up 14.5 PPG and 5.9 RPG in 361 games (23.3 MPG), earning Sixth Man of the Year honors in 2020.

Although an ACL tear is an injury that has sidelined a handful of NBA players for a full year – or longer – in recent seasons, Harrell is hoping to return sometime after the All-Star break, according to Charania. That’s an aggressive recovery timeline — we’ll have to wait and see if he can achieve that goal. For what it’s worth, the 76ers will continue to support Harrell in his rehab and recovery plan, Charania adds (via Twitter).

Assuming Harrell goes unclaimed on waivers, which is a safe bet, the veteran forward/center will earn $2,891,467 while Philadelphia carries a dead-money cap hit of $2,019,706. The move clears a path for Petrusev and Danny Green – neither of whom has a fully guaranteed salary – to make the Sixers’ 15-man regular season roster.

Cole Anthony Signs Three-Year Extension With Magic

October 23rd, 2023 at 3:43pm CST by Luke Adams

3:43pm: Anthony’s extension is official, the Magic announced (Twitter link via Jason Beede of The Orlando Sentinel). Bobby Marks of ESPN shares the structure of the contract, tweeting that it’s technically worth $39.1MM and features a third-year team option.

2:34pm: The flurry of rookie scale extensions ahead of Monday’s deadline continues, according to Adrian Wojnarowski of ESPN (Twitter link), who reports that the Magic and guard Cole Anthony have reached an agreement on a three-year deal. The extension will be worth $39MM, agents Jeff Schwartz and Javon Phillips tell Wojnarowski.

Anthony, the 15th overall pick in the 2020 draft, has spent his first three years in the NBA in Orlando, appearing in 172 total regular season games during that time.

While he started 99 of 112 games in his first two seasons, Anthony came off the bench almost exclusively in 2022/23 and enjoyed his best year in terms of shooting effiency, boosting his rates to a career-best .454/.364/.894. In 60 games (25.9 MPG) last season, he averaged 13.0 PPG, 4.8 RPG, and 3.9 APG.

The Magic project to have a crowded backcourt in 2023/24, with other recent lottery picks like Markelle Fultz, Jalen Suggs, Anthony Black, and Jett Howard all vying for minutes. However, this investment in Anthony suggests Orlando envisions him continuing to play a substantial role in the rotation going forward.

Anthony’s deal is right in the range of the deal signed by another young guard, Coby White, who was a restricted free agent this summer. The Bulls guard received a three-year, $36MM contract that can be worth up to $40MM with incentives. It remains to be seen whether Anthony’s extension features any incentives or options.

Based on the reported terms of Anthony’s deal, Orlando still projects to have at least $30MM in cap room in 2024, notes Yossi Gozlan of HoopsHype (Twitter link).

Anthony is the 12th players to agree to terms on a rookie scale extension so far in 2023, with the deadline just hours away. The previous record for most rookie scale extensions in a single season was 11, set in 2021 and matched in 2022, so that record is on track to be broken today.

The full list of rookie scale extension recipients can be viewed right here, while the remaining candidates are listed here.

Grizzlies Exercise 2024/25 Team Options On Four Players

October 23rd, 2023 at 3:09pm CST by Rory Maher

The Grizzlies have exercised their 2024/25 rookie scale team options on Ziaire Williams, Santi Aldama, Jake LaRavia and David Roddy, the team announced on Monday (via Twitter).

After having their fourth-year options picked up, Williams (10th overall pick in 2021) and Aldama (30th in ’21) will now be eligible for rookie scale extensions in 2024. Williams will earn $6,133,005 next season, while Aldama will make $3,960,531.

LaRavia (19th pick in ’22) and Roddy (23rd pick in ’22), on the other hand, had their third-year options exercised. They’ll make $3,352,680 and $2,847,240 in ’24/25, respectively.

After a solid rookie campaign in 2021/22, Williams struggled with injuries and inconsistency last season. However, he started at small forward in a couple of preseason games, including the team’s finale on Friday (Twitter link via Damichael Cole of The Memphis Commercial Appeal), and is looking to bounce back with a strong season in ’23/24.

A 6’10” big man with a versatile skill set, Aldama didn’t play much as a rookie but had a productive sophomore campaign in ’22/23, averaging 9.0 PPG and 4.8 RPG on .470/.353/.750 shooting in 77 games (21.8 MPG). He should be in line for a larger role in year three with Brandon Clarke and Steven Adams unfortunately sidelined with major injuries.

Roddy was selected a few picks after LaRavia, but he saw the court much more frequently as a rookie last season for the Grizzlies, appearing in 70 games for an average of 18.0 MPG). LaRavia appeared in 35 games while averaging 11.8 MPG in ’22/23.

The full list of ’24/25 rookie scale team option decisions can be found right here.

Wizards Sign Deni Avdija To Four-Year Extension

October 23rd, 2023 at 1:37pm CST by Luke Adams

OCTOBER 23: Avdija’s extension is now official, the team announced today in a press release.

“Deni has many of the characteristics that we value in the players who represent our organization. He has a team-first mentality, works hard on his craft, competes with toughness, and is committed to improving the community,” Wizards general manager Will Dawkins said in a statement. “That hard work has resulted in the year-to-year development of his overall game and we’re excited to have him continue that progress as a Wizard.”

OCTOBER 22: The Wizards and forward Deni Avdija have agreed to a contract extension, agents Doug Neustadt and Matan Siman-Tov tell Adrian Wojnarowski of ESPN (Twitter link). According to Wojnarowski (Twitter link), the deal will be worth $55MM over four years and is fully guaranteed.

There are no incentives or options in the deal, adds Josh Robbins of The Athletic (Twitter links).

The No. 9 overall pick in the 2020 draft, Avdija has appeared in 212 games for Washington over the last three seasons, averaging 8.1 points, 5.5 rebounds, and 2.1 assists in 24.8 minutes per game during that time and posting a career shooting line of .431/.310/.734.

Given that his numbers haven’t increased substantially since his rookie year (his .297 3PT% in 2022/23 was a career worst) and the Wizards have overhauled their front office since drafting him, Avdija didn’t look like one of the top candidates to receive a rookie scale extension in 2023. However, he and the team came to an agreement ahead of Monday’s deadline, making him the ninth player to agree to a rookie scale extension so far this year.

Avdija’s new deal is nearly exactly in line with the value of the non-taxpayer mid-level exception. Based on the NBA’s latest cap projection for 2024/25 (a 4.4% increase), a full four-year MLE deal next season would be worth $55.69MM.

When our Rory Maher explored Avdija’s case for an extension back in July, he used the MLE as a point of reference, writing that the forward probably wasn’t in position to get more than the mid-level on the open market.

The contract will cut into Washington’s projected cap room for the 2024 offseason, but the club should still be in position to create at least $22MM in space, and potentially more than that, tweets Yossi Gozlan of HoopsHype.

After missing the first two games of the preseason due to back tightness, Avdija appears good to go for the regular season and may be part of the Wizards’ starting five alongside Tyus Jones, Jordan Poole, Kyle Kuzma, and Daniel Gafford. If the team instead opts to start rookie forward Bilal Coulibaly, Avdija would be one of the first players off the bench.

Spurs Exercise 2024/25 Options On Sochan, Branham, Wesley

October 23rd, 2023 at 1:05pm CST by Rory Maher

The Spurs have exercised their third-year team options on the rookie scale contracts of Jeremy Sochan, Malaki Branham and Blake Wesley, the team announced today.

While the moves won’t impact the players this season, the trio now have their 2024/25 salaries guaranteed. Sochan will make $5,570,040 next season, Branham will carry a $3,217,920 cap hit, and Wesley will earn $2,624,280.

The Spurs will have until the end of October 2024 to decide whether or not they want to pick up the fourth-year options of Sochan, Branham and Wesley.

The No. 9 overall pick of the 2022 draft, Sochan earned a spot on the All-Rookie Second Team last season after averaging 11.0 points, 5.3 rebounds and 2.5 assists in 56 games, including 53 starts (26.0 minutes per contest). He posted a .453/.246/.698 shooting line.

Head coach Gregg Popovich previously stated that the 6’9″ Sochan would be the de facto point guard of the Spurs’ super-sized starting lineup to open ’23/24. However, on Friday, he cast some uncertainty on whether that five-man group would remain the long-term starters, as Tom Orsborn of The San Antonio Express-News relays (Twitter links).

Branham, a 6’5″ guard who was the No. 20 overall pick in 2022, averaged 10.2 points, 2.7 rebounds and 1.9 assists on .440/.302/.829 shooting in 66 games last season (23.5 minutes).

Wesley, meanwhile, was the No. 25 pick last year. He averaged 5.0 points, 2.7 assists and 2.2 rebounds on .321/.381/.591 shooting in 37 NBA games in ’22/23 (18.1 minutes). The 6’5″ guard also spent some time in the G League last season.

The full list of ’24/25 rookie scale team option decisions can be found right here.

Stanley Umude Gets Two-Way Contract With Pistons

October 23rd, 2023 at 11:37am CST by Arthur Hill

11:37am: The Pistons have confirmed Umude’s two-way contract (Twitter link).

7:58am: The Pistons will convert Stanley Umude‘s Exhibit 10 contract to a two-way deal, sources tell Shams Charania of The Athletic (Twitter link).

The 24-year-old shooting guard signed with Detroit last fall after going undrafted out of Arkansas. He spent most of the season with the team’s G League affiliate, the Motor City Cruise, but made a brief appearance in one NBA game after signing a 10-day contract in February. He also played for the Pistons in this year’s Summer League.

Umude earned the two-way slot with a strong preseason, averaging 9.3 points, 3.3 rebounds and 1.8 assists in four games while shooting 45.5% from the field and 43.8% from three-point range.

Detroit now has all its two-way spots filled, with Jared Rhoden and Malcolm Cazalon holding the others. With 14 players on standard contracts, the team has one opening on its 15-man roster.

Aaron Nesmith Lands Three-Year, $33MM Extension With Pacers

October 23rd, 2023 at 11:24am CST by Arthur Hill

11:24am: Nesmith’s extension is official, the Pacers announced in a press release.

9:33am: The Pacers have agreed to a three-year, $33MM extension with Aaron Nesmith, agent Mike Lindeman tells ESPN’s Adrian Wojnarowski (Twitter link).

The 24-year-old forward thrived in his first season with Indiana, moving into the starting lineup and averaging 10.1 points, 3.8 rebounds and 1.3 assists in 73 games. Today’s extension shows that management considers him part of the team’s young core as it tries to become a playoff contender.

The Pacers acquired Nesmith from Boston last summer as part of the Malcolm Brogdon deal. The Celtics selected him with the 14th pick in the 2020 draft, but he wasn’t able to earn a regular rotation role in his two years with the team.

Nesmith will earn $5,634,257 in the final year of his rookie contract before the extension kicks in next season. Once the deal is finalized, he will be under contract through 2026/27.

Today is the final day for members of the 2020 draft class to sign rookie scale extensions. The deadline is set at 5:00 pm Central time, and you can track them all here.

Nesmith is the 10th player to agree to a rookie scale extension so far this year, as our extension tracker shows.

John Butler Signs Two-Way Contract With Wizards

October 23rd, 2023 at 11:16am CST by Arthur Hill

11:16am: The signing is official, the Wizards announced (via Twitter).

8:32am: Free agent center John Butler will join the Wizards on a two-way contract, tweets Shams Charania of The Athletic.

The 20-year-old was waived by the Trail Blazers on Friday. He spent last season with Portland on a two-way deal and appeared in 19 games, averaging 2.4 points and 0.9 rebounds in 11.6 minutes per night.

Butler signed a two-way contract with the Pelicans last October after going undrafted out of Florida State. He was waived after a week and was picked up by the Blazers a few days later.

Washington now has all its two-way slots filled, with the others belonging to Eugene Omoruyi and Jared Butler. The Wizards still have 17 players with guaranteed contracts and will have to make two cuts by 4:00 pm CT today.

Spurs Sign Zach Collins To Two-Year Extension

October 22nd, 2023 at 10:35pm CST by Luke Adams

10:35pm: The Spurs have confirmed the extension through a press statement.

12:09pm: The Spurs and big man Zach Collins have agreed to a two-year contract extension that will be worth $35MM, agent Mark Bartelstein tells Adrian Wojnarowski of ESPN. The deal is fully guaranteed, with no second-year player or team option, tweets Kelly Iko of The Athletic.

Collins, who will turn 26 next month, is coming off his healthiest season in four years. Appearing in 63 games (26 starts) for San Antonio in 2022/23, he averaged 11.6 points, 6.4 rebounds, and 2.9 assists in 22.9 minutes per game, posting a solid shooting line of .518/.374/.761.

The 10th overall pick in the 2017 draft, Collins flashed some promise early in his career in Portland, but saw his career derailed by ankle injuries, which limited him to 11 games in 2019/20 and sidelined him for the entire ’20/21 season.

When Collins signed with the Spurs as a free agent in 2021, he received a three-year, $22MM contract, but it was only fully guaranteed for one full season, with a partial guarantee in year two and a non-guaranteed third year. The former Gonzaga standout only played in 28 games in his first season in San Antonio, but ’22/23 was the best season of his career, putting him in position to become part of the team’s future beyond his current contract.

Collins projects to be part of the Spurs’ starting lineup alongside Victor Wembanyama this fall, as the club looks to reduce the wear and tear on its prized rookie by having him play at power forward instead of center.

As Yossi Gozlan of HoopsHype observes (via Twitter), San Antonio initially projected to have upwards of $60MM in cap room in the summer of 2024, but have now dedicated more than half that space to new contracts for Collins and Devin Vassell, who signed a five-year, $135MM rookie scale extension earlier this month.

The exact terms of Collins’ extension aren’t yet known, but it sounds like the Spurs will give him the maximum possible veteran extension for a player earning less than the NBA’s estimated average salary ($11,958,000). The veteran center is eligible to receive a starting salary worth 40% of that figure in his new deal, with an 8% raise in year two — those terms would put him in line to earn approximately $34.82MM on the extension after making $7.7MM in 2023/24.

Collins’ extension will make him ineligible to be traded for six months, Gozlan notes, so the Spurs won’t be able to move him until the 2024 offseason.

ESPN’s Zach Lowe and Bobby Marks suggested on the latest episode of The Lowe Post podcast that a deal for Collins could be imminent. Lowe advised keeping an eye on the Spurs center as a potential veteran extension candidate, and Marks responded by saying he had heard that rumor “multiple times.”

Raptors Sign, Waive Omari Moore

October 22nd, 2023 at 7:58pm CST by Arthur Hill

7:58pm: The Raptors officially signed and waived Moore, per NBA.com’s transaction log.

11:17am: Omari Moore will be signed and waived by the Raptors as the last Exhibit 10 player for their G League affiliate, tweets Blake Murphy of Sportsnet.ca.

Because the move will occur today rather than Saturday, Moore will receive one day of salary while being on waivers for the first day of the regular season, Murphy adds. That will push the team about $12K closer to the luxury tax, according to John Hollinger of The Athletic (Twitter link).

The 23-year-old shooting guard was waived by Milwaukee on Wednesday. He signed a two-way contract with the Bucks in July after going undrafted out of San Jose State.

The Exhibit 10 contract gives Moore an opportunity to earn a bonus worth up to $75K if he spends at least 60 days with Raptors 905.