Transactions Rumors | Hoops Rumors

Sixers Re-Sign Ricky Council To Two-Way Contract

October 25th, 2023 at 12:12pm CST by Luke Adams

12:12pm: Tubelis has been waived in order to open up a two-way slot for Council, reports Keith Pompey of The Philadelphia Inquirer (Twitter link).

11:53am: The Sixers have agreed to a new two-way contract with rookie shooting guard Ricky Council, reports Michael Scotto of HoopsHype (Twitter link). The signing is official, per NBA.com’s transaction log.

Council, who played two college seasons at Wichita State before transferring to Arkansas for his junior year in 2022/23, averaged 16.1 points, 3.6 rebounds, and 2.3 assists in 34.1 minutes per game (36 games) for the Razorbacks last season. His 27.0% mark on three-point tries left something to be desired, but he was considered one of the top prospects to go undrafted this year.

Following June’s draft, Council quickly latched on with Philadelphia on a two-way deal, playing for the club in Summer League and the preseason before being cut last Friday. The Sixers had to release a two-way player in order to convert Javonte Smart‘s Exhibit 10 deal to a two-way contract.

We don’t know exactly what Philadelphia’s thinking is in waiving Council only to bring him back five days later. However, it’s worth noting that the terms of Terquavion Smith‘s and Azuolas Tubelis‘ two-way deals called for them to have 50% of their full salaries guaranteed if they weren’t waived on or before the first day of the regular season. Council’s previous contract didn’t include those same terms.

It’s possible the Sixers always wanted to retain Council but didn’t want to deny Smith or Tubelis a payday of approximately $205K (each player had already been guaranteed $75K of his $560K two-way salary). Keeping both of those players through opening day on Tuesday ensures they’ll get their salary bumps, which won’t count against Philadelphia’s cap. I’d expect one of them – rather than Smart – was cut to make room for Council, though that hasn’t yet been confirmed.

Hornets Sign Ish Smith, Waive Edmond Sumner

October 24th, 2023 at 3:03pm CST by Luke Adams

3:03pm: The Hornets have officially signed Smith and waived Sumner, the team announced in a press release.

12:37pm: The Hornets are making an early-season roster change, according to Shams Charania of The Athletic, who reports (via Twitter) that the team will sign veteran guard Ish Smith, waiving Edmond Sumner to clear a spot on the 15-man roster.

Smith, a well-traveled NBA veteran, has played for a record 13 teams, including the Hornets in 2021/22. Last season, the 35-year-old won his first NBA championship in Denver, averaging 2.5 points and 2.3 assists in 9.3 minutes per game across 43 regular season appearances for the Nuggets.

Charlotte presumably felt the need to add some extra point guard depth behind starter LaMelo Ball, with projected backup Frank Ntilikina expected to miss at least four weeks due to a fractured tibia. Smith and Theo Maledon are among the players who will be in the mix for those backup minutes until Ntilikina is ready to return.

While terms of Smith’s deal haven’t been reported, I’d expected a non-guaranteed minimum-salary deal. That would give the Hornets the flexibility to swap him out for another player prior to the league-wide salary guarantee date in January if Ntilikina is healthy by then.

It’s bad news for Sumner, who was on track to be one of four players on non-guaranteed Exhibit 9 contracts to make an opening night roster. Instead, it sounds like he’ll be placed on waivers prior to the Hornets’ regular season opener on Wednesday.

Sumner, 26, averaged 7.1 PPG, 1.5 RPG, and 1.3 APG in 53 games (13.9 MPG) for the Nets last season, posting a shooting line of .461/.356/.917. It was his first season back following an Achilles tear that cost him all of 2021/22.

Assuming he’s officially cut on Tuesday, Sumner will receive a small portion ($40,459) of his non-guaranteed minimum salary, since he was on the roster until the first day of the regular season and will spend two more days on waivers.

Giannis Antetokounmpo Signs Three-Year Max Extension

October 24th, 2023 at 12:42pm CST by Dana Gauruder

OCTOBER 24: The Bucks have officially announced Antetokounmpo’s extension.

“Milwaukee is where I started my career, it’s our home, it’s where we’re raising our family, and it’s where I’m going to continue to work hard every day to make Bucks fans proud,” Giannis said in a statement. “I want to thank Bucks owners Wes (Edens), Jamie (Dinan), Jimmy (Haslam) and Dee (Haslam) for their continuous support of me and my family, and I want to express my appreciation to (general manager) Jon Horst for being a trusted partner who has been with me since the day I arrived in Milwaukee 10 years ago.

“To my teammates and coaches, I will always be grateful to you for inspiring me to be my best every day. Together, we are committed to winning and bringing another championship to our city. And to Bucks fans, let’s get it!”

OCTOBER 23: Giannis Antetokounmpo is signing a three-year, maximum-salary extension with the Bucks, Adrian Wojnarowski of ESPN tweets. The contract will include a player option for the 2027/28 season, Wojnarowski adds (Twitter link).

Antetokounmpo was signed through the 2025/26 on his current contract, though he had a $51,935,268 option for the final season of that deal. That ’25/26 option will be eliminated and replaced with the first year of the new contract.

While Wojnarowski pegs the value of the three-year extension at $186MM, that’s just an estimate for now. It’s only possible if the salary cap increases by the maximum amount (10%) in 2024 and 2025. Otherwise, the contract figures would come in a little lower.

Assuming annual 10% increases in each of the next two years, the extension would break down as follows, ESPN’s Bobby Marks tweets: $57,604,893 for the 2025/26 season; $62,213,285 the following season; and a $66,821,676 player option in 2027/28. The total value would be $186,639,853.

The terms of the deal are identical to the three-year extension Anthony Davis signed with the Lakers in August.

Antetokounmpo’s agreement with the Bucks comes as somewhat of a surprise, since he indicated in a New York Times interview this summer that he wouldn’t sign an extension.

“The real question’s not going to be this year — numbers-wise it doesn’t make sense,” Giannis said in August. “But next year, next summer it would make more sense for both parties.”

While Antetokounmpo could have waited until next offseason and theoretically received more money, he ultimately decided to make an early commitment. Certainly, the Bucks’ acquisition of another superstar, Damian Lillard, played into his thinking.

The New York Times interview – in which Antetokounmpo stated he wouldn’t sign long-term with Milwaukee unless he was confident the team is as committed to chasing more titles as he is – sparked widespread speculation that he would eventually ask for a trade or go into the free agent market. However, his decision to sign on Monday should quiet that speculation, at least in the short term.

The two-time Most Valuable Player award winner is coming off a season in which he averaged a career-best 31.1 points, 11.8 rebounds and 5.7 assists per game. Still only 28 years old, he’s entering his 11th NBA season.

Monday was the last day the Bucks superstar could have signed an extension prior to next July, as we outlined earlier today.

Rockets Re-Sign Nate Hinton To Two-Way Contract

October 24th, 2023 at 7:01am CST by Luke Adams

After waiving him on Saturday, the Rockets have re-signed swingman Nate Hinton to a two-way contract, reports Jonathan Feigen of The Houston Chronicle (Twitter link).

The move is official, per RealGM’s log of NBA transactions, as is the reported release of Trevor Hudgins, whose two-way spot was opened to make room for Hinton.

A 6’5″ wing who played his college ball at Houston, Hinton has spent most of his three professional seasons on two-way contracts or G League deals, appearing in 23 NBA games for the Mavericks and Pacers since 2020.

The 24-year-old played for the Cleveland Charge – the Cavaliers’ NBAGL affiliate – during the 2022/23 season, averaging 12.0 PPG and 6.3 RPG on .466/.383/.789 shooting in 27 regular season games (33.9 MPG). He appeared in three preseason games for the Rockets, playing limited minutes.

The Rockets have now made multiple changes to their two-way players ahead of the regular season, having also cut Darius Days in order to convert Jeenathan Williams to a two-way contract on Monday.

It’s unclear why Houston didn’t simply hang onto Hinton and convert him as it did Williams, since Hinton’s deal also included Exhibit 10 language. Negotiating a two-year deal would’ve required him to pass through waivers, but Hoops Rumors has learned that Hinton’s new contract is only for one year. He’ll be eligible for restricted free agency next summer.

Duane Washington Jr. Signs Two-Way Deal With Knicks

October 24th, 2023 at 6:40am CST by Arthur Hill

OCTOBER 24: Washington’s two-way contract with the Knicks is official, per NBA.com’s transaction log.

OCTOBER 22: The Knicks plan to bring back Duane Washington Jr. to fill their open two-way slot, sources tell Ian Begley of SNY (Twitter link). The 23-year-old combo guard was waived Saturday along with three other players.

New York converted Dylan Windler from a two-way deal to a standard contract on Saturday, creating the vacancy. Washington must go through waivers before being re-signed, but once that happens, the team will have a full roster with 15 standard deals and all three of its two-way spots filled.

Washington joined the Knicks on a two-way contract in late February, but didn’t see any game action. He was waived in July and then re-signed to a non-guaranteed training camp deal five days later.

Washington spent time with the Pacers and Suns after going undrafted out of Ohio State in 2021. He holds career averages of 9.1 points, 1.5 rebounds and 1.9 assists in 79 career games.

Hawks Sign Onyeka Okongwu To Four-Year Extension

October 23rd, 2023 at 5:46pm CST by Luke Adams

5:46pm: The deal is official, the Hawks have confirmed in a press release.

4:47pm: The Hawks have reached an extension agreement with center Onyeka Okongwu, according to Adrian Wojnarowski of ESPN (Twitter link), who hears from agent Sam Goldfeder that the two sides are completing a four-year, $62MM deal.

Okongwu, who will turn 23 in December, was the sixth overall pick in the 2020 draft. He has primarily come off the bench in his first three professional seasons, starting just 28 of 178 games for Atlanta.

However, Okongwu has gradually taken on a more significant role each year, setting new career highs in points (9.9), rebounds (7.2), and minutes (23.1) per game in 80 appearances in 2022/23 and posting impressive offensive rebounding numbers following the arrival of Quin Snyder, per Bobby Marks of ESPN (Twitter link). He projects to take on more responsibilities in the Hawks’ frontcourt this season with big man John Collins no longer on the roster.

While $15.5MM per year is a substantial price to pay for a reserve, it could turn out to be a bargain if Okongwu continues to improve and eventually replaces Clint Capela as Atlanta’s starting center. Capela’s name popped up in trade rumors this offseason and it wouldn’t be a surprise if that happens again in the coming months now that the team has made a long-term commitment to Okongwu.

His long-term contract agreement with the Hawks ensures that Okongwu becomes part of a record-setting class of rookie scale extension recipients in 2023. He’s the 14th players to agree to a rookie scale extension this year, blowing away the previous record of 11, which was set in 2021 and matched in 2022.

Hawks forward Saddiq Bey was also among the players eligible to sign a rookie scale extension by Monday’s 5:00 pm CT deadline, but he didn’t reach a deal with the team, sources tell Wojnarowski (Twitter link).

Rockets To Waive Two-Way Player Trevor Hudgins

October 23rd, 2023 at 5:28pm CST by Dana Gauruder

The Rockets are waiving two-way player Trevor Hudgins, according to Michael Scotto of HoopsHype (Twitter link).

That opens up a two-way slot for Houston, which also has Jermaine Samuels Jr. and Jeenathan Williams on two-way deals.

Hudgins signed a two-way contract with Houston prior to last season after going undrafted out of Northwest Missouri State. He spent the season almost entirely in the G League, where he averaged 19 points per game for Rio Grande Valley. Hudgins, a guard, also appeared in five NBA games as a rookie.

He remained on the roster after accepting the Rockets’ two-way qualifying offer this summer.

Wolves Sign Jaden McDaniels To Five-Year Extension

October 23rd, 2023 at 5:18pm CST by Rory Maher

5:18pm: The Timberwolves have officially announced McDaniels’ extension, issuing a press release to confirm the deal.

2:53pm: McDaniels’ new deal will actually be worth $131MM, with another $5MM available via incentives that are currently considered unlikely, tweets Bobby Marks of ESPN.

1:20pm: The Timberwolves and forward Jaden McDaniels are in agreement on a five-year rookie scale extension worth $136MM, agents Nima Namakian and Bill Duffy tell Shams Charania and Jon Krawczynski of The Athletic (Twitter link).

As Charania notes (via Twitter), by agreeing to give McDaniels a significant contract extension, the Wolves project to be a taxpayer starting in 2024/25, which is when the new deal kicks in. Minnesota hasn’t been a taxpaying team in almost 20 years, Charania adds.

McDaniels will make $3.9MM this season in the final year of his rookie contract.

ESPN’s Zach Lowe recently said on his Lowe Post podcast that the five-year, $135MM+ extension that Spurs wing Devin Vassell signed threw a “grenade” into some other rookie scale extension negotiations around the NBA, including McDaniels’ talks.

While Lowe believed that McDaniels would be warranted in seeking an annual salary of at least $30MM per year, his ESPN colleague Bobby Marks suggested that an extension worth in the neighborhood of $134MM over five years (just below Vassell’s deal) might make sense for both the player and the team. Marks turned out to be almost exactly right.

When I covered McDaniels’ extension candidacy in late June, I projected he could get about $25MM annually. If the deal is fully guaranteed, he’ll make a couple million per year more than that.

The 23-year-old is one of the top wing defenders in the league. He’s coming off a career year in which he averaged 12.1 PPG, 3.9 RPG, 1.9 APG, 0.9 SPG and 1.0 BPG on .517/.398/.736 shooting in 79 games, all starts (30.6 MPG). McDaniels also posted a career-best 58.8% two-point percentage in ’22/23, with a major leap in scoring efficiency (61.1% True Shooting percentage, vs. 55.2% and 55.3% in his previous two seasons).

Darren Wolfson of 5 Eyewitness News and Skor North was speaking to Wolves owner Glen Taylor on Monday and he said a deal would be completed prior to the 5:00 p.m. CT deadline (Twitter link). Taylor also said the Wolves were able to lower McDaniels’ asking price, with Vassell’s contract cited in talks, according to Wolfson.

McDaniels is the 11th former first-round pick to agree to a rookie scale extension this offseason, tying the record of the past two years. The full list of players who have signed new deals — as well as those who remain eligible — can be found right here.

Blazers Re-Sign Duop Reath To Two-Way Contract

October 23rd, 2023 at 5:14pm CST by Luke Adams

5:14pm: The Blazers have officially signed Reath and waived Badji, according to the opening night rosters announced by the NBA (Twitter link).

4:36pm: After being waived by the Trail Blazers on Saturday, center Duop Reath is returning to the team on a two-way contract, reports Adrian Wojnarowski of ESPN (Twitter link).

Reath, 27, has played overseas since going undrafted out of LSU in 2018, spending time with teams in Serbia, Australia, China, and Lebanon over the last five years. Reath averaged 13.0 points and 7.4 rebounds in five games for Portland’s Summer League team in July, then represented Australia in the 2023 World Cup, starting at center for the Boomers.

Although Reath was on a training camp contract with the Blazers this month, his deal only included Exhibit 9 language, not an Exhibit 10 clause, so he was ineligible to be converted directly to a two-way deal. Portland had to put him through waivers in order to re-sign him to a two-way contract.

According to Sean Highkin of Rose Garden Report (Twitter link), another big man, Ibou Badji, will be waived to open up a two-way slot for Reath.

Badji, 21, spent much of last season on a two-way contract with Portland, though he didn’t appear in an NBA regular season game.

A 7’1″ Senegalese center with a 7’9″ wingspan, Badji played in Spain from 2019-22 and joined the Wisconsin Herd (the Bucks’ G League affiliate) to begin the 2022/23 campaign after going undrafted last year. He joined the Blazers last November and signed a second two-way contract with the team this July.

Rockets Cut Darius Days, Convert Jeenathan Williams To Two-Way Deal

October 23rd, 2023 at 5:12pm CST by Luke Adams

5:12pm: The Rockets have officially waived Days and converted Williams to a two-way contract, according to NBA.com’s transaction log.

2:27pm: The Rockets are waiving forward Darius Days ahead of Monday’s regular season roster deadline, a source tells Jonathan Feigen of The Houston Chronicle (subscription required).

Days, who turned 24 on Friday, had been on a two-way contract with Houston, having accepted his qualifying offer from the team at the start of the offseason. He spent the entire 2022/23 season on a two-way deal with the Rockets, appearing in just four NBA games but enjoying an excellent year for the Rio Grande Valley Vipers, Houston’s G League affiliate.

In 47 total regular season and Showcase Cup games for the Vipers last season, Days averaged 21.9 points and 9.2 rebounds in 33.5 minutes per contest, posting a shooting line of .487/.359/.816. He finished third in NBAGL Rookie of the Year voting and claimed a spot on the All-G League second team.

Despite Days’ strong 2022/23 campaign, he became the victim of a roster crunch this fall, as the Rockets needed to open up a two-way slot for preseason standout Jeenathan Williams, per Feigen.

A 6’5″ shooting guard, Williams put up 8.6 PPG on 63.3% shooting despite logging just 10.2 MPG in five preseason appearances. He had been on an Exhibit 10 contract but remained on the roster through Saturday, which is when virtually every other player on an Exhibit 10 deal was cut so that they could clear waivers before the regular season began. That was a signal that the Rockets intended to keep him around by converting him to a two-way contract.

Once Houston officially waives Days, converts Williams, and cuts Robinson-Earl – whose fate was reported earlier this afternoon – the team will be within the regular season roster limit, carrying 15 players on standard contracts and three on two-way deals.