Griffin Signs Five-Year Extension With Clippers
WEDNESDAY, 1:08am: The Clippers announced in a press release that Griffin has officially signed his contract extension. The deal will pay the forward the maximum salary allowed by the CBA.
TUESDAY, 11:34pm: Griffin's five-year deal will have an opt-out after year four, tweets ESPN.com's Marc Stein.
Suns To Strongly Pursue O.J. Mayo?
O.J. Mayo wasn't the Suns' top target when free agency began, but he may become the team's number one priority very soon. ESPN.com's Marc Stein reports (via Twitter) that if the Hornets match the Suns' offer sheet on Eric Gordon, Phoenix is expected to aggressively court Mayo.
There seems to be little doubt that the Hornets intend to match the Suns' offer sheet and keep Gordon, as both Ric Bucher of ESPN.com and John Reid of the Times Picayune reported earlier on Tuesday. As such, the Suns figure to have a good chunk of cap space left over to use on Mayo, who is seeking a contract worth more than the mid-level exception.
The Pacers are also said to be very interested in Mayo.
Nuggets Making Progress With JaVale McGee
The Nuggets and JaVale McGee are making progress in negotiations on a new contract, tweets SI.com's Sam Amick. According to Amick, "all signs" point to McGee re-signing in Denver and continuing his tenure with the Nuggets, who acquired him at this year's trade deadline.
Dwight Howard Rumors: Tuesday
The Dwight Howard rumor mill was in full swing on Monday, as we needed multiple posts to round up all of the day's rumblings. I recapped the Monday highlights right here, including the framework of a possible four-team deal, but things continue to evolve quickly. So let's follow along with Tuesday's updates, which we'll add to the top of this page throughout the day….
- As Marc Stein suggested (below), the Rockets have remained "strongly engaged" with the Magic on direct talks for Howard and haven't spent much time on three-team scenarios, tweets Adrian Wojnarowski of Yahoo! Sports.
Earlier updates:
Nets Re-Sign Deron Williams
11:55pm: Williams announced via Twitter that he has officially signed his contract to remain with the Nets.
JULY 10TH, 11:47pm: Williams' contract will include an early termination option after the fourth year, tweets ESPN.com's Marc Stein. The point guard is currently finalizing his deal in Las Vegas, says Ken Berger of CBSSports.com (via Twitter).
Knicks Re-Sign J.R. Smith
11:38pm: Smith has officially signed his two-year deal to remain in New York, tweets SI.com's Sam Amick.
12:03am: J.R. Smith and the Knicks have agreed to a contract that will bring Smith back to New York for at least one more year, tweets Ian Begley of ESPNNewYork.com. Smith will sign a two-year deal with a first-year salary of about $2.8MM and a second-year player option, according to Begley.
Lakers Acquire Steve Nash Via Sign-And-Trade
JULY 10TH, 11:10pm: The sign-and-trade sending Nash from the Suns to the Lakers in exchange for four draft picks is official, tweets Mike Trudell of Lakers.com. The Lakers confirmed the news in a press release.
JULY 4TH, 8:09pm: Paul Coro of the Arizona Republic tweets that the Suns will receive the Lakers' 2013 and 2015 first-round picks and their 2013 and 2014 second-round picks.
Free Agent Rumors: Flynn, Heat, Mahinmi
We're less than 14 hours away from the July moratorium coming to an end and this season's signing period beginning in earnest. As of 11:00pm central time tonight, teams can officially sign free agents, trades can be consummated, and players can sign contract extensions. In the meantime, free agents have one more day to try to reach contract agreements before clubs start finalizing the moves they've agreed to over the last week and a half. We'll track today's rumors on free agents here, with the newest updates up top:
- Jonny Flynn has worked out for the Hawks and will visit the Bulls on Friday, tweets Marc J. Spears of Yahoo! Sports. Count the Cavs as another team interested in the point guard's services.
- Look for the Heat to add a minimum-scale big man, such as Kwame Brown or Joel Przybilla, as they finish up their offseason spending, tweets Ira Winderman of the South Florida Sun Sentinel.
- Gery Woelfel of the Racine Journal Times (Twitter link) hears from NBA officials that the Bucks have some interest in Ian Mahinmi.
Earlier updates:
New York Notes: Chandler, Williams, Brooks
The Knicks and Nets have been busy this offseason as each respective team has positioned itself for a prolonged playoff run next season thanks to key additions and re-signings. While the Knicks are close to completing their spending spree, the Nets remain in the mix for Dwight Howard, whose talents have been tied to the Lakers, Rockets and Hawks. Here's the latest news and headlines out of New York City…
NBA Salary Cap Set For 2012/13 Season
The NBA announced that the salary cap for the 2012/13 season will be $58.044MM, according to an official release from the league. The tax level for next season has been set at $70.307MM, which means teams will pay a one dollar tax for each dollar in excess of the tax level. Both the salary cap and tax level remain the same from the 2011/12 season.
The non-taxpayer mid-level for the upcoming season is $5MM, the taxpayer mid-level is $3.09MM and the mid-level for a team with room under the salary cap is $2.575MM. The league also announced the minimum team salary, which is 85 percent of the salary cap, will also stay the same at $49.337MM.