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Grizzlies Exercise 2013/14 Option On Pondexter

October 31st, 2012 at 5:12pm CST by Chuck Myron

The Grizzlies have picked up their $2.23MM fourth-year option on Quincy Pondexter for 2013/14, Ronald Tillery of the Memphis Commercial Appeal tweets. Pondexter was the last of the players eligible for rookie-scale contract extensions by tonight's 11pm Central deadline, as our tracker shows. 

The Thunder took Pondexter with the 26th pick in the 2010 NBA draft, trading him that night to the Hornets. The 6'6" swingman averaged 2.8 points in 11.1 minutes per game as a rookie for New Orleans, which sent him in another trade to the Grizzlies before last season. Pondexter saw a little bit more time in Memphis, averaging 15.7 MPG while putting up 4.2 PPG.

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Josh Howard Continues To Seek NBA Contract

October 31st, 2012 at 4:27pm CST by Luke Adams

One of the more recognizable veteran names on our current list of unrestricted free agents, Josh Howard is still looking for a chance to join an NBA roster, writes Jeff Caplan of NBA.com. According to Caplan, Howard has been working out in Dallas, staying in shape while he waits for his next opportunity.

"I’m just waiting for the opportunity to get on a team," Howard said. "My agent has been staying in contact with teams and continues to communicate with those teams. It’s a waiting game."

With teams focusing on cutting rather than signing players over the last couple weeks, there haven't been many opportunities out there for Howard. However, with the regular season underway and some teams already being hit by injuries, veterans like the former Mav may begin to look more appealing in the coming weeks. For his part, the 32-year-old says he's motivated by the fact that he remains unsigned.

"I look at it as motivating," Howard said. "It’s never a disappointment. I look at my career and if it were to end today I can say honestly that I was one of the best players in the league for a while. I made it to the Finals, but you know my goal is to win the Finals and I want another opportunity. That’s my drive in me still and my competitiveness. I’m not ready to stop playing. I’m staying aggressive and hoping a team picks me up."

Earlier in the offseason, Howard received interest from the Knicks, Spurs, Sixers, and Timberwolves, among other teams, but those clubs moved on to other options, meaning new suitors could arise once we get a few weeks into the season.

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Warriors Sign Curry To Four-Year Extension

October 31st, 2012 at 3:26pm CST by Luke Adams

3:26pm: The Warriors have officially signed Curry to a contract extension, the team confirmed in a press release.

"This is an exciting day for the Warriors and our fans and it certainly exemplifies the commitment of [owners] Joe Lacob and Peter Guber," said GM Bob Myers in the release. "We’re extremely pleased that we have reached an agreement that will enable Stephen to remain a vital part of our team long term.  His contributions over the last three years, both on the floor and in the community, have been invaluable to our organization.  We certainly expect him to be an integral part of our future success as he continues to evolve as a player in all facets of the game."

10:59am: Stephen Curry and the Warriors have reached an agreement on a contract extension for the fourth-year guard, a source tells Marcus Thompson II of the Bay Area News Group. According to Thompson, Curry's new deal, which will begin in 2013/14, will be worth $44MM over four years, and doesn't include any incentives or bonuses.

Curry himself confirmed the news on his Twitter account, tweeting: "#Dubs Gameday baby. And thanks to Joe Lacob & the Warriors hopefully I can say that for the next 4 yrs. agreed on extension."

The news is a little surprising, considering Curry was slowed during the preseason with ankle issues. After missing significant time last season with ankle injuries, it was assumed the Warriors wanted to take a long look at Curry's health this preseason to determine whether a long-term investment was worth the risk. Despite the fact that Curry missed some time last week with an ankle sprain, it seems the Warriors saw enough to convince them that they should lock up the 24-year-old now, rather than waiting until after the season.

Curry's deal comes on the heels of Ty Lawson signing a four-year, $48MM extension with the Nuggets. The Warriors point guard will earn an annual salary worth $1MM less than Lawson's, matching the $11MM annual salary Rajon Rondo is making on his five-year, $55MM deal with the Celtics.

As for the Warriors, they appear to be headed for luxury-tax territory in 2013/14, even if Curry's deal is backloaded. A $10MM salary for Curry in 2013/14 would put Golden State on the hook for about $58MM for its top five players (by salary) next season, assuming Richard Jefferson and Andris Biedrins pick up their options. Modest salaries for Harrison Barnes, Klay Thompson, Festus Ezeli, and Draymond Green, along with potential $4MM player options for Brandon Rush and Carl Landry, will make it extremely challenging for the Warriors to stay below the tax threshold.

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Robert Pera Completes Purchase Of Grizzlies

October 31st, 2012 at 2:41pm CST by Luke Adams

WEDNESDAY, 2:41pm: The Grizzlies announced today that the sale of the franchise to Pera's group has officially been completed.

"The Grizzlies are here to stay in Memphis," Pera said in a statement. "We are thrilled to assume ownership of the Grizzlies. We see enormous potential and understand the role the Grizzlies play in bringing Memphians together. We are committed to building a winning team with a best-in-class organizational culture, finding new and creative ways to engage with our fans, and making a positive and meaningful difference in the community."

MONDAY, 4:58pm: Earlier this afternoon, Robert Pera's officially closed on his deal to buy the Memphis Grizzlies, according to the Memphis Commercial Appeal (Twitter link). Pera's ownership group has "paid in full," according to the tweet.

We heard earlier today from TNT's David Aldridge that the final sale price for the franchise was $377MM. While Pera's ability to produce that kind of money was called into question when his company, Ubiquiti Networks, saw its stock fall in recent months, but the 34-year-old entrepreneur strengthened his bid by bringing aboard a handful of minority partners. According to Aldridge, two of those minority owners contributed $25MM+ each to Pera's bid.

The NBA approved the sale of the Grizzlies, from Michael Heisley to Pera's group, last week. At that point, the last step that remained was Pera closing the sale with Heisley, which it appears he's done.

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Odds & Ends: Curry, Bulls, Richardson, Grizzlies

October 31st, 2012 at 1:36pm CST by Luke Adams

Despite indications this morning that the Nets/Knicks opener in Brooklyn tomorrow would proceed as planned, the game will be postponed due to the effects of Hurricane Sandy, tweets Greg Anthony of CBS Sports and NBA TV. It's not clear yet whether the Knicks' Friday game at Madison Square Garden or the Nets' Saturday game in Brooklyn will be played. For now, however, it seems the debut of the Barclays Center will have to wait as the city continues to recover.

Here are a few more notes from around the league:

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2012 NBA Free Agent Tracker

October 31st, 2012 at 12:42pm CST by Luke Adams

If you haven't done so yet, be sure to check out Hoops Rumors' 2012 Free Agent Tracker. Using our tracker, you can quickly browse the offseason's contract agreements, sorting by team, position, contract length, total salary, and a handful of other variables.

For instance, if you want to see all the Celtics' summer signings, you can sort by team and find all of Boston's free agent additions listed here. If you're curious to see how many players signed five-year contracts, you can sort by contract length and bring up that list right here.

Contract amounts are based on what's been reported to date, and aren't necessarily fully guaranteed. This is especially true for players who signed summer contracts, most of whom were cut before earning their non-guaranteed salaries.

Now that the regular season is underway, we'll no longer be updating our Free Agent Tracker regularly, but it can still be accessed anytime on the right sidebar under "Hoops Rumors Features." All of the free agent contracts signed over the offseason can be found using the tracker. If you have any corrections, please let us know right here.

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Rockets To Decline Option On Cole Aldrich

October 31st, 2012 at 11:20am CST by Luke Adams

The Rockets will not exercise their 2013/14 option on the recently-acquired Cole Aldrich, according to Mark Berman of FOX 26 Houston (Twitter link). Aldrich, who came over from the Thunder on the weekend, would have been in line for a $3.25MM next year, but will instead become an unrestricted free agent in the summer.

Faced with five decisions on 2013/14 options, the Rockets elected to exercise only Marcus Morris' and Patrick Patterson's. Besides turning down Aldrich's fourth-year option, Houston waived another player acquired from the Thunder, Lazar Hayward, meaning the team won't be on the hook for his '13/14 option. The Rockets also released JaJuan Johnson without picking up his third-year option.

With Aldrich's option set to be declined, there's now just one outstanding 2013/14 option decision remaining, according to Hoops Rumors' tracker: Quincy Pondexter of the Grizzlies.

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Atlantic Notes: Carmelo, Raptors, Bynum, Barbosa

October 31st, 2012 at 10:57am CST by Luke Adams

It's an eventful opening week in the Atlantic Division, where the defending division champs opened their season last night with a loss in Miami. Despite Hurricane Sandy, the battle of New York will proceed as scheduled tomorrow, with the Knicks traveling to Brooklyn to face the Nets. And the 76ers' big offseason acquisition, Andrew Bynum, remains out indefinitely with knee troubles. As a pair of Atlantic teams (the Sixers and Raptors) prepare to host their home openers tonight, let's round up a few more links from around the division:

  • Looking ahead to the matchup against the Nets tomorrow, Carmelo Anthony noted that his own situation could have played out much differently (link via Ian Begley of ESPNNewYork.com). "When I used to sit back and reflect on what happened throughout that whole trade process and the whole quote, unquote Melo-Drama that was going on," Anthony said. "I could have easily been sitting there with a Brooklyn Nets jersey on at this very moment."
  • The Raptors' roster is finally composed of pieces that make sense, writes Bruce Arthur of the National Post.
  • John Smallwood of the Philadelphia Daily News compares the Sixers' summer acquisition of Bynum to the team's signing of Moses Malone decades earlier, though he warns that the championship impact almost certainly won't be as immediate.
  • Not all of the Celtics' offseason additions were particularly impressive in the team's opener against the Heat, but the newest Celtic, Leandro Barbosa, was a bright spot, writes Matt Porter at ESPNBoston.com.
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Rautins, Thompson Sign With Tulsa 66ers

October 31st, 2012 at 9:34am CST by Luke Adams

A pair of Thunder camp invitees, Andy Rautins and Hollis Thompson, have signed D-League contracts to join the Tulsa 66ers, reports Darnell Mayberry of the Oklahoman (via Twitter). Both players were released by the Thunder over the weekend, along with Daniel Orton, who is expected to re-sign with Oklahoma City.

Rautins, a second-round pick in 2010, has appeared in just five NBA games in his brief career, while Thompson, a Georgetown product, went undrafted in this year's draft despite having been ranked as a top-50 prospect by ESPN.com's Chad Ford.

Having carried Rautins and Thompson late into the preseason, the Thunder held their D-League rights, meaning the team will get a chance to develop the duo at its affiliate in Tulsa, which isn't shared with another NBA club. Another NBA team could sign either player away from the 66ers during the season, but the team would have to be willing to use a spot on its 15-man roster.

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Mark Cuban Talks Lakers, CBA, Steve Nash

October 31st, 2012 at 9:02am CST by Luke Adams

Without Dirk Nowitzki, the new-look Mavericks caught the NBA world off-guard last night, with a 99-91 upset victory over the Lakers in Los Angeles. From Darren Collison to Eddy Curry, the Mavs' offseason additions looked far more in sync than the Lakers' high-profile acquisitions, something that had to please owner Mark Cuban. Before the game got underway, Cuban spoke to reporters about a number of topics related to his team, the Lakers, and Steve Nash. Let's check out the highlights:

  • Joking that he just hopes the Lakers "suck" this year, Cuban questioned whether L.A.'s so-called superteam would be able to live up to the expectations, as Tim MacMahon of ESPNDallas.com writes. "Obviously, Nash is great. He's phenomenal, Dwight [Howard]'s phenomenal, Kobe [Bryant]," Cuban said. "But it takes a team. They've got to come together and play as a team."
  • Cuban added that he isn't bothered by the fact that the Lakers were able to add two significant pieces under a CBA that was supposed to limit major market teams.
  • More Cuban on the Lakers: "I don't have a problem with it, because until guys start playing until they're 50 (years old), it always comes to an end at some point. Houston went for it when they got (Charles) Barkley and it didn't happen. Guys have shelf lives. They don't play forever, so at some point, you have to re-formulate your team. Everybody's got to go through it."
  • The Mavs owner admitted he was wrong about Nash back in 2004 when he let the point guard leave Dallas. The decision to let Nash go "was all based on what we thought physically would end up happening, and it didn’t work out that way," Cuban said, according to Dwain Price of the Fort Worth Star Telegram.
  • Cuban also said he considered trying to bring Nash back to Dallas this past summer, but wasn't interested in committing to a three-year deal, tweets Price.
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