After struggling mightily in the Heat‘s home-opening loss to Orlando, star forward Jimmy Butler bounced back with a strong performance in Saturday’s victory over Charlotte, writes Anthony Chiang of The Miami Herald.
Butler had one of his worst games in a Heat uniform vs. the Magic, only scoring three points to go along with four rebounds and five assists in 26 minutes. On Saturday, the 35-year-old’s production was closer to his typical norm, as he put up 26 points, eight rebounds and eight assists in 37 minutes.
“Honestly, just doing all of that and it resulting in a win,” Butler said when asked about his big night. “That’s the reason that we all play the game. I’m just happy to get one in the win column.”
The six-time All-Star could be a free agent next summer if he declines his $52.4MM player option for 2025/26. Chiang recently reported that Butler would likely decline a maximum-salary extension even if he were offered it, but there’s no indication at this point that he plans to leave Miami.
Here are a few more notes from around the Southeast:
Forbes has released its NBA franchise valuations for 2024, and according to Justin Teitelbaum and Brett Knight, the Warriors are the league’s most valuable team for a third straight season, with an estimated valuation of a whopping $8.8 billion. The Knicks ($7.5 billion), Lakers ($7.1 billion), Celtics ($6 billion), and Clippers ($5.5 billion) round out Forbes’ top five.
As Teitelbaum and Knight detail, franchise valuations are up 15% as a whole from last year’s estimates, with an average of $4.4 billion for the league’s 30 teams. Forbes projects that none of those 30 clubs would sell for less than $3 billion if it were put on the market today, with the No. 30 Grizzlies coming in at a valuation of exactly $3 billion.
According to Forbes, new and renovated arenas – which have led to an increase in local revenue via premium seating and sponsorship revenue – have helped spur growth across the league. Teitelbaum and Knight suggest that the Warriors’ total revenue during the 2023/24 season reached $800MM.
Here are more odds and ends from around the basketball world:
Hawks second-year guard Kobe Bufkin suffered a partially dislocated right shoulder during a practice, the team announced Thursday in a press release. It’s the second time Bufkin has dislocated his shoulder in the last six months — he previously suffered the same injury ahead of Las Vegas Summer League in July.
Bufkin has had a rough go with injuries over the course of his young career. He was limited to just 17 games in his rookie season in 2023/24 after dealing with a fractured thumb and sprained toe. He averaged 4.8 points in 11.5 minutes per contest in his healthy appearances.
According to the Hawks’ release, Bufkin and the team are determining treatment options and an update will be provided at a later date. He’s likely to miss at least a few weeks. In the wake of his injury, guard Dyson Daniels will continue to get expanded opportunities.
In addition to not having Bufkin for Friday’s game, the Hawks are also listing Bogdan Bogdanovic as out with right hamstring tendinopathy, according to Lauren Williams of The Atlanta Journal-Constitution.
We have more from the Southeast Division:
Muriel Bowser, the mayor of Washington, D.C., has put forth a proposal for the city to buy Capital One Arena from Monumental Sports, the Wizards‘ parent company, according to Michael Brice-Saddler and Sam Fortier of The Washington Post.
The plan proposes the city buy the arena for $87.5MM, with that money coming out of a $515MM fund that city council approved earlier this year for renovations and expansions to the building. The idea would be to lease the arena back to the Wizards, with that lease extending through at least 2050.
D.C. already owns the land under Capital One Arena, Brice-Saddler and Fortier write, and if Monumental maintains control of the building, Ted Leonsis‘ company would be required to pay hundreds of millions of dollars in taxes back to city on the money it receives for arena renovations, which are projected to cost $800MM in total (with at least $285MM being contributed by Monumental). That wouldn’t be the case if the arena is sold to the city.
“This is the deal that was always contemplated when Mayor Bowser and the D.C. Council approved a $515 million improvement in Capital One Arena,” deputy mayor for planning and economic development Nina Albert said in a statement. “This is the best structure to effectuate that; it is what enables an efficient use of public money to be fully reinvested in this project.”
Here’s more on the Wizards:
Although the Warriors think Jonathan Kuminga has All-Star potential, they weren’t willing to sign him at this time to the kind of long-term rookie scale extension he was seeking without a more concrete belief that he’ll reach that level, writes Monte Poole of NBC Bay Area.
[RELATED: No Extension For Jonathan Kuminga, Warriors]
As Poole explains, no one on Golden State’s roster besides Stephen Curry is making $30MM+ per year and Kuminga was seeking a deal that was worth “well beyond that amount.” While the Warriors aren’t opposed to making that sort of commitment to the fourth-year forward, they want to see more from him this season before signing off on such a significant contract.
“He took a leap last season,” one source told Poole. “They want to see another one before they make that investment. He’s still under their control. If Kuminga has a strong season, I know they’ll take care of him.”
Without a rookie scale extension in place, Kuminga will be a restricted free agent in 2025, giving the Warriors the right to match any offer sheet he signs with a new team.
Here are a few more notes from around the NBA on the contract extensions that did and didn’t get done on Monday:
10:42pm: Butler has officially signed his two-way deal, according to the NBA transactions log.
6:21pm: The Wizards are bringing back free agent guard Jared Butler on a two-way deal, Marc Stein tweets.
Butler was on a standard contract with Washington entering training camp but was cut on Saturday. He cleared waivers on Monday.
It’s not surprising that Butler was brought back by the Wizards, who reportedly explored ways to keep Butler on the 15-man roster. He was on a non-guaranteed contract and the team was already carrying 15 players on fully guaranteed deals. It’s entirely possible Butler will wind up signing another standard contract at some point this season.
To make room for Butler, the Wizards waived guard RayJ Dennis, according to the NBA transactions log.
The 40th overall pick in the 2021 draft, Butler spent time with Utah and Oklahoma City before playing for the Wizards in 2023/24. He was on a two-way contract for most of the season before being converted to a multiyear standard contract in April.
Butler appeared in a total of 40 NBA games last season, averaging 6.3 points, 3.2 assists, and 1.5 rebounds in 14.2 minutes per night, with a .488 FG%. He also had a strong preseason this month, with averages of 6.8 PPG and 4.2 APG on .536/.400/.667 shooting in five games (14.3 MPG).
Dennis was just signed to a two-way contract over the weekend. The undrafted Baylor guard averaged 13.6 points, 6.7 assists, and 3.9 rebounds in 34.3 minutes per game across 35 contests last season (all starts).
The Wizards opted to retain Justin Champagnie and Tristan Vukcevic with their other two-way deals.
5:16pm: Kispert’s extension is official, the Wizards announced in a press release.
“Corey is someone who positively impacts our environment daily. He consistently shows up for the organization as both a player and a teammate, embodying the passion and professionalism we value,” Dawkins said in a statement. “We are excited that he has the opportunity to continue his growth and development in Washington. He’s a relentless worker who has added to his game each season. We look forward to his further evolution in the coming years.”
3:53pm: The Wizards are signing swingman Corey Kispert to a four-year, $54MM rookie scale extension, agents Mark Bartelstein and Andy Shiffman tell Marc Stein (Twitter link).
The deal will include a team option on the fourth year, according to Josh Robbins of The Athletic (Twitter link).
Kispert, 25, has been a regular part of Washington’s rotation since being selected out of Gonzaga with the 15th overall pick in the 2021 draft. He averaged a career-high 13.4 points per game last season while also chipping in 2.8 rebounds and 2.0 assists in 25.8 minutes per night across 80 outings (22 starts).
Kispert’s calling card is his ability to knock down outside shots. Over the past two seasons, he has converted 40.2% of 5.6 three-point attempts per contest, making him a valuable floor-spacer.
Since Kispert was drafted by the Wizards’ previous front office, it wasn’t clear leading up to Monday’s extension deadline whether the current decision-makers would value him highly enough to sign him to a long-term deal.
However, president Michael Winger and general manager Will Dawkins showed last fall in extending Deni Avdija that they’re willing to lock up young talent if the price is reasonable, even if that player was a carryover from the previous regime and isn’t necessarily a lock to be in the team’s long-term plans — Avdija was traded this July.
It’s possible Kispert could eventually emerge as a trade candidate too for the rebuilding Wizards, though moving him in 2024/25 would be tricky due to the poison pill provision.
A full four-year mid-level exception contract in 2025 is projected to be worth just over $60MM, so Kispert’s contract will come in a little below that figure.
The Wizards have waived guard Jared Butler, according to a press release from the club. Michael Scotto of HoopsHype first reported (via Twitter) that Butler was being cut by Washington.
The 40th overall pick in the 2021 draft, Butler spent time with Utah and Oklahoma City before playing for the Wizards in 2023/24. He was on a two-way contract for most of the season before being converted to a multiyear standard contract in April.
Butler appeared in a total of 40 NBA games last season, averaging 6.3 points, 3.2 assists, and 1.5 rebounds in 14.2 minutes per night, with a .488 FG%. He also had a strong preseason this month, with averages of 6.8 PPG and 4.2 APG on .536/.400/.667 shooting in five games (14.3 MPG).
Reporting leading up to the roster cut-down deadline indicated that the Wizards wanted to find a way to keep Butler, but he was on a non-guaranteed contract and the team is carrying 15 players on fully guaranteed deals. Hanging onto Butler would’ve meant trading or waiving a player with a guaranteed salary.
The front office explored the market to try to find a trade involving a player like Johnny Davis or Patrick Baldwin Jr., tweets Keith Smith of Spotrac, but wasn’t willing to give up a draft pick to move off either player or to eat money this early in the season by cutting one of them. That made Butler the victim of the roster crunch in D.C.
Butler is a candidate to be claimed on waivers, but if he becomes a free agent, he could return to the Wizards on a two-way contract. He’ll likely draw interest from other teams as a two-way target too.
The Wizards have requested waivers on center John Butler Jr., forward Taylor Funk, and forward Mouhamadou Gueye, according to RealGM’s transaction log.
Butler, Funk, and Gueye were on non-guaranteed Exhibit 10 contracts and are now candidates to report to the Capital City Go-Go. Washington’s G League affiliate controls the returning rights for all three players, who would earn bonuses worth $77.5K apiece if they spend at least 60 days with the Go-Go.
Butler, 21, started last season on a two-way contract with the Wizards, but was waived in early December. He joined Capital City, where he averaged 6.7 points and 3.2 rebounds in 33 regular season games. Butler has previous NBA experience with Portland, appearing in 19 games during the 2022/23 season, and he was a member of the USA’s 3×3 U23 Men’s National Team that competed in Mongolia this summer.
Funk, 26, also played for the Go-Go last season after being acquired in a December trade with the Maine Celtics. He signed an Exhibit 10 deal with Boston last September, but was waived before the start of training camp. Funk averaged 9.4 points and 3.1 rebounds in 34 regular season games with Capital City.
Gueye, who went undrafted out of Pitt in 2022, saw his first NBA action last season after joining the Raptors on a 10-day deal in February and a two-way contract in March. The 26-year-old appeared in 11 games down the stretch for Toronto, averaging 2.4 points, 2.1 rebounds, and 1.6 blocks in 10.9 minutes per contest. In 39 Showcase Cup and regular season outings for the Raptors 905 – Toronto’s G League affiliate – he averaged 14.2 PPG, 7.9 RPG, and 2.6 BPG in 31.0 MPG, making 56.1% of his shots from the floor but just 49.5% of his free throw tries.
Washington is now carrying 19 players, including 15 on guaranteed contracts and three on two-way deals. Jared Butler has a non-guaranteed salary, but the Wizards would reportedly like to keep him — to do so, they’ll have to either trade or waive a player from their 15-man roster or cut him and attempt to re-sign him to a two-way contract. The latter route is riskier since another team could claim him off waivers.
With teams finalizing rosters ahead of Monday’s cut-down deadline, there could be a flurry of activity from teams exploring avenues to keep players on crowded rosters. According to Spotrac’s Keith Smith (Twitter link), several luxury tax teams are exploring moving off salary in an effort to keep other players they like.
While the Wizards aren’t a luxury tax team, they’re one of the many teams looking to make a move before Monday’s roster deadline. As NBA insider Jake Fischer reports (Threads link), the Wizards want to keep Jared Butler around on the 15-man roster. Butler is on a non-guaranteed contract, which made him a release candidate, but he played well in the preseason, averaging 6.8 points and 4.2 assists in 14.3 minutes per game across five outings.
That could lead the Wizards to explore trading or even cutting former No. 10 overall pick Johnny Davis, according to Fischer. The Wizards aren’t expected to exercise Davis’ fourth-year option and while he hit a clutch shot in Friday’s preseason finale, he struggled this preseason and through his two NBA years with shooting efficiency.
However, outright cutting Davis would mean not being able to use his $5.3MM salary to help facilitate trades later down the road. It’s possible Washington agrees to a bigger trade before the beginning of the regular season or considers waiving another player.
As we outlined earlier today, it’s important to note that while most teams will make cuts Saturday, that’s not really an issue for the Wizards. The main wave of cuts today are mostly going to be non-guaranteed contracts and since teams like the Wizards cutting guaranteed salary would be eating dead money anyway, they have until Monday’s deadline to come to a decision.
We have more trade rumors from around the league: