6:22pm: The trade is official, the Lakers and Pacers have announced. It’s Hibbert to the Lakers and a future second-round pick to the Pacers. “I’d like to thank Roy for all his contributions during his time in Indiana,” said Pacers president of basketball operations Larry Bird. “He was a two-time NBA All-Star, and we appreciate everything he did for our franchise both on and off the court.”
JULY 9TH, 10:20am: The trade is on track to be finalized today, with the Lakers planning on sending a future second-round pick and cash to the Pacers, tweets Jeff Zillgitt of USA Today.
5:37pm: Pacers are finalizing the terms to trade Hibbert to the Lakers and the center has been informed he’s heading to Los Angeles, according to Adrian Wojnarowski of Yahoo Sports (Twitter link). Wojnarowski confirms (Twitter link) that the Lakers will absorb Hibbert’s $15.5 salary into their cap space and will likely send a combination of second-rounders and rights to overseas prospects to Indiana. The final issue being worked on is fitting Hibbert’s 15% trade kicker into Lakers’ cap room, Wojnarowski tweets.
JULY 4TH, 5:04pm: The Pacers and Lakers are discussing a deal involving center Roy Hibbert, tweets Marc Stein of ESPN.com. The framework of the deal is done, according to Jared Zwerling of Bleacher Report (Twitter link), and the teams are finalizing the assets involved. He notes that Hibbert would be valuable as a defensive anchor for a young team (Twitter link). A source told Ramona Shelburne of ESPNLosAngeles.com, “It’ll get done after [July] 9th.” (Twitter link). The Pacers will likely get cash and a draft pick, tweets Jeff Zillgitt of USA Today, who adds that the teams are still sorting out the details.
Along with his salary, the center will receive a $2.3MM bonus that will drop the Lakers’ cap room to about $4.7MM, according to former NBA executive Bobby Marks (Twitter link). The Pacers are expected to cover that bonus. Los Angeles can either absorb Hibbert into its cap space or do a sign-and-trade involving Jordan Hill if he and the Pacers are interested, notes Eric Pincus of The Los Angeles Times (Twitter link).
Hibbert exercised his player option and will earn more than $15MM next season. The Pacers are hoping to trade him and adopt a faster style of play. Hibbert has spent seven seasons in Indiana after being drafted out of Georgetown. His scoring average of 10.6 points per game last year was the lowest since his rookie season. He will be a free agent next summer.