Mavericks Sign Monta Ellis
JULY 23RD, 2:45pm: The Mavericks have finally made the Ellis signing official, announcing the deal today in a press release.
JULY 12TH, 3:36pm: The deal is expected to be in the $28MM range, tweets Sam Amick of USA Today.
2:47pm: The Mavericks and Monta Ellis have reached an agreement that will land the free agent guard in Dallas, reports ESPN.com's Marc Stein. Ellis will receive a three-year deal that figures to be worth between $25-30MM overall, depending on how the Mavs' cap situation shakes out.
It was just two days ago that GM Donnie Nelson told reporters that the Mavs likely wouldn't be too involved in the Ellis sweepstakes, but it appears that was just a smoke screen. The Kings, Hawks, and Bobcats were cited as other potential suitors for the free agent guard.
Ellis reportedly parted ways with longtime agent Jeff Fried recently, after being disappointed by the lack of interest he was receiving on the open market. Dan Fegan of Relativity Sports was expected to replace Fried as Ellis' rep, though players typically have to wait 15 days before hiring a new agent, so it's not clear if Fegan negotiated the deal with the Mavs.
Even if Ellis receives $30MM from the Mavs for three years, he'll be earning a lesser annual salary than he could have received from the Bucks. The 27-year-old turned down an $11MM player option to hit the open market, and reportedly turned down a three-year, $36MM extension offer from Milwaukee last season.
According to Stein, the Mavericks continue to negotiate with Samuel Dalembert, and could pursue other bigs as well, but Dallas may be capped out after Ellis' deal, leaving just the $2.65MM room exception to offer non-minimum players.
Gary Neal To Become Unrestricted Free Agent
The Spurs are in the process of withdrawing their qualifying offer to Gary Neal, making him an unrestricted free agent, reports Marc Stein of ESPN.com (via Twitter). The move increases the likelihood that Neal will end up landing with a team besides San Antonio, with Stein adding (via Twitter) that the free agent guard is expected to be "snapped up quickly."
Neal's one-year qualifying offer was worth about $1.12MM, and allowed the Spurs to match any bids for him. Had Neal signed an offer sheet with another club, the Spurs would have had three days to decide whether to match it or let him walk. Now, the 28-year-old will be able to sign outright with a rival suitor.
Neal has posted nearly identical numbers in his three seasons in San Antonio, with his averages ranging from 9.5 to 9.9 PPG in 21.1 to 21.8 MPG. However, after posting a 41.9% three-point rate in each of his first two years, that mark fell to 35.5% in 2012/13.
It's not clear where Neal will land once he becomes an unrestricted free agent, but Gery Woelfel of the Racine Journal Times reported a couple weeks ago that the Bucks were one of four interested teams.
NBA Teams With Hard Caps For 2013/14
The NBA's salary cap is famously known as a "soft cap," allowing teams to surpass the cap threshold using various cap exceptions, sometimes by a significant margin. Last season, the Lakers' team salary exceeded the cap by $40MM, with the team spending about $100MM (plus taxes) on its roster of players.
However, under the league's Collective Bargaining Agreement, there are a few instances in which a team can become hard-capped for a season. If a team's salary exceeds the luxury tax threshold ($71,748,000) by $4MM+, that team is not permitted to acquire a player via sign-and-trade, or to use the full mid-level or bi-annual exceptions. As soon as a team completes a sign-and-trade deal, or uses its BAE, or uses more than $3,182,700 of its MLE to sign a player, that club becomes hard-capped at $75,748,000 for the 2013/14 season. In other words, team salary can't exceed that amount at any point before June 30th, 2014.
For some clubs, that hard cap isn't a major concern. For instance, the Pelicans still have about $12MM in breathing room below the hard cap, and seem to be just about done making moves. On the other hand, the Celtics are only about $2MM below the hard cap, so any trades or signings Boston makes for the rest of the season will have to be constructed to ensure team salary doesn't surpass that $75.748MM cutoff.
Here are the clubs who are now locked into a hard cap for the 2013/14 season, along with an estimation (via HoopsWorld) of their current team salaries and the reason(s) why the hard cap was created:
Boston Celtics
Current estimated team salary: $73,638,001
Hard cap created: Acquired Keith Bogans via sign-and-trade
Los Angeles Clippers
Current estimated team salary: $72,361,060
Hard cap created: Acquired J.J. Redick via sign-and-trade; signed Matt Barnes and Darren Collison via non-taxpayer MLE
Toronto Raptors
Current estimated team salary: $70,710,039
Hard cap created: Acquired Quentin Richardson via sign-and-trade
Washington Wizards
Current estimated team salary: $69,883,992
Hard cap created: Signed Martell Webster via non-taxpayer MLE; signed Eric Maynor via BAE
Indiana Pacers
Current estimated team salary: $69,150,000
Hard cap created: Signed C.J. Watson via BAE
Golden State Warriors
Current estimated team salary: $68,333,105
Hard cap created: Acquired Andre Iguodala via sign-and-trade; signed Marreese Speights and Toney Douglas via non-taxpayer MLE
Denver Nuggets
Current estimated team salary1: $66,849,937
Hard cap created: Acquired Randy Foye via sign-and-trade; signed J.J. Hickson via non-taxpayer MLE; signed Nate Robinson via BAE
San Antonio Spurs
Current estimated team salary2: $64,782,127
Hard cap created: Signed Marco Belinelli and Jeff Pendergraph via non-taxpayer MLE
New Orleans Pelicans
Current estimated team salary: $63,347,645
Hard cap created: Acquired Tyreke Evans via sign-and-trade
Minnesota Timberwolves
Current estimated team salary3: $61,158,583
Hard cap created: Acquired Kevin Martin via sign-and-trade; signed Corey Brewer via non-taxpayer MLE; signed Ronny Turiaf via BAE
1 Estimate includes Timofey Mozgov's cap hold
2 Estimate includes Gary Neal's cap hold
3 Estimate includes Nikola Pekovic's cap hold
HoopsWorld was used in the creation of this post.
Western Notes: Wolves, Gomes, Mavs, Clark
Grantland's Zach Lowe wrote earlier today that there's about a "99.9999%" chance that the Timberwolves work out a deal to bring back Nikola Pekovic. Jerry Zgoda of the Star Tribune also suggests that it's just a matter of time, tweeting that he thinks a deal will be completed next week. Whether or not the Wolves re-sign Pekovic, and it seems like a lock that they will, don't expect the team to have any interest in Greg Oden, says Darren Wolfson of 1500 ESPN Twin Cities (via Twitter). According to Wolfson, David Kahn had interest in Oden, but Flip Saunders is passing on the former first overall pick.
Here are a few more items from out of the Western Conference:
- Ryan Gomes, who says he hopes to be a coach one day, has worked out for the Thunder and Spurs as he weighs his options for the upcoming season, he tells Nick Greene of the Hartford Courant.
- Mavericks owner Mark Cuban appeared on KESN-FM in Dallas to follow up on his comments about the team potentially being better off without Dwight Howard, and the Dallas Morning News has the details.
- Undrafted free agent guard Ian Clark put up 33 points in the Warriors' championship win at the Las Vegas Summer League, and is drawing interest from NBA teams, as Jeff Zillgitt of USA Today writes. Zillgitt names the Warriors, Trail Blazers, and Jazz as clubs eyeing Clark.
- A strong Summer League performance also has NBA teams eyeing Dionte Christmas, according to Shams Charania of RealGM.com. The Suns are among the clubs with interest.
Bulls Release Malcolm Thomas
TUESDAY, 11:32am: The Bulls have officially waived Thomas, the team announced today in a press release.
MONDAY, 5:21pm: The Bulls won't be able to retain Malcolm Thomas for the 2013/14 season due to the franchise's salary situation, a league source told Shams Charania of RealGM. If the paperwork for Thomas' release has not already been filed, it will be shortly as his guarantee date is Wednesday, July 24th.
Thomas is an unfortunate cap casualty for Chicago as he is averaging 11 points, 15 rebounds and 1.7 blocks per game in summer league. The Bulls are interested in bringing back the 6-foot-8 forward at some point, a source said, but he is expected to draw interest from several NBA teams. The 24-year-old played five games for the Warriors last season before finishing the season with the Bulls, where he averaged 1.7 PPG and 1.3 RPG in seven games.
Lowe’s Latest: Clippers, Gay, Pekovic, Heat
In his latest lengthy piece for Grantland.com, Zach Lowe evaluates the offseason so far for all 30 NBA teams, writing that the Rockets stand alone as the only club to significantly improve without sacrificing future assets or flexibility. It's worth reading Lowe's entire piece, especially if you're curious to find out what he had to say about your favorite team. But here are a few notable tidbits from the story:
- The Clippers recognize that even after adding free agents Ryan Hollins and Byron Mullens, the team needs another big man, and will likely sign one soon.
- Lowe notes that the Raptors could be in position to clear a chunk of cap space next summer, when Rudy Gay's and Kyle Lowry's contracts could expire. According to Lowe, the Raps privately expressed a belief when they traded for Gay last season that he'd likely opt out next summer in search of a longer-term deal, rather than exercising his 2014/15 player option.
- While the Jazz have taken some criticism for letting Al Jefferson and Paul Millsap walk rather than trying to flip them at the trade deadline for something of value, Lowe says Utah would have been willing to move either player last February if the club could have landed a first-round pick and avoided taking on long-term money.
- There's some confusion among rival executives about why the Lakers are bothering with players like Chris Kaman and Nick Young, rather than going into full-blown tank mode, says Lowe.
- Among the executives Lowe spoke to in Las Vegas, a couple of the most common questions involved what the Mavericks' and Bucks' plans are, since neither team seems to have a clear-cut direction.
- The Timberwolves are a "99.9999% bet" to re-sign Nikola Pekovic at a fair number, according to Lowe.
- Don't expect the Heat to be passive about LeBron James' potential 2014 free agency, says Lowe, adding that Pat Riley and the front office "won't promise him the same aging and top-heavy roster."
- The Spurs are likely one of the teams unhappy about Andrei Kirilenko's new deal with the Nets, since San Antonio tried to acquire the Russian via sign-and-trade after being told he wouldn't sign for mid-level money.
Hoops Rumors Features
Hoops Rumors passes along the latest news and rumors on NBA player movement 365 days a year, but those aren't the only updates you'll see on the site. On our right sidebar, you'll find a number of additional features and featured posts. Here's a rundown of a few of them:
- We're still keeping a close eye on free agency with the help of our list of 2013 free agents. If you want to look ahead to the summer of 2014, we've rounded up those free agents as well. Both lists will continue to be modified as needed.
- Our Free Agent Tracker, which features data sortable by team, position, contract years, and contract amount, has been continually updated to include all of this summer's deals.
- Speaking of those signings, you can read up on plenty of specific free agent cases in our Free Agent Stock Watch series. The series still includes a number of players who haven't signed, including DeJuan Blair, Greg Oden, Mo Williams, and others.
- Free agents aren't the only players signing contracts. This year's draft picks are also inking their deals, and we've broken down the likely salaries for first-round picks, while we continue to follow which prospects have been locked up and which remain unsigned.
- We previewed all 30 teams' summers in our Offseason Outlook series. If you missed it the first time around, you can revisit our forecasts for each team with the hindsight of knowing what moves each club has made.
- Our agency database is a handy reference point for determining the representation for virtually every NBA player.
- Using our 10-day contract tracker, you can find any 10-day contract signed since 2007, sorting by player, team, year, and other variables.
- On Mondays at 4:00pm CT, I answer readers' questions in a live chat. You can check out transcripts of our past live discussions here.
- We're tracking teams' amnesty provisions — using our complete list, you can check to see which clubs have used the amnesty clause and which will have it available next summer.
- The Hoops Rumors glossary helps explain some of the more complex concepts in the NBA's Collective Bargaining Agreement.
- Zach Links rounds up the best of the blogosphere every Sunday in his weekly Hoops Links feature.
- If you're looking to catch up on a few days worth of content, our Week in Review posts round up the week's news and rumors, while our Hoops Rumors Originals posts recap the site's original content for the week. Both round-ups are published every Sunday.
- Be sure to check out the Featured Posts section on the right sidebar for more original pieces from the Hoops Rumors writing team. Recently, we listed the players eligible for rookie-scale contract extensions, explained the subtle value of three-year contracts, and looked ahead to 2014's amnesty candidates.
Pacific Notes: Thompson, Cousins, Marshall
Even though the Lakers said repeatedly that they wouldn't entertain a sign-and-trade for Dwight Howard this summer, many believed that the Warriors would have been able to change their minds with a package involving Klay Thompson if D12 chose Golden State. Thompson has obvious ties to L.A., but he stayed even-keeled as the speculation was going on, writes Mark Medina of the Los Angeles Daily News. “If it happened, it happened,” Thompson said. “That’s nothing you can control. I’m happy where I’m at.” Here's more out of the Pacific Division..
- Kings big man DeMarcus Cousins says that he's not worried about a potential contract extension and he's only focused on Team USA at the moment, tweets Jason Jones of the Sacramento Bee. Cousins added (link) that new GM Pete D'Alessandro has asked for his input on free agents, which hasn't happened before under previous management.
- When asked if he wants to stay with the Kings, Cousins answered in the affirmative without hesitation, writes Jason Jones of the Sacramento Bee.
- Despite a disappointing rookie year, Suns guard Kendall Marshall is working to play a key role in the club's rotation this season, writes RealGM's Shams Charania. He'll have his work cut out for him as he'll jockey for time with Goran Dragic, Eric Bledsoe, Shannon Brown, and Malcolm Lee.
Paul George Hopes To Stay In Indiana
Pacers guard Paul George is a native of Los Angeles and it's rare that a day goes by where he doesn't hear the pleas of Lakers fans for him to suit up in purple and gold in 2014. However, it doesn't sound like George is looking to leave the Pacers for L.A., or anywhere else for that matter, writes Marc Stein of ESPN.com.
"I'm happy, man. I'm happy in Indiana. It's overwhelming (to hear) that they would want a player like me to come play for their team. But right now I'm focused on Indiana. I'm happy to be in Indiana. Our future is bright in Indiana. I wouldn't want to leave something great," said the 23-year-old.
George confirmed after today's Team USA practice that he has already opened contract extension talks with the Pacers. While he isn't getting into specifics about the discussions, one source close to the process told Stein this week that a max extension with the Pacers, most likely before the Oct. 31 deadline for players from the 2010 draft class, is a "foregone conclusion."
The former 10th overall pick had a breakout season in 2012/13, averaging 17.4 PPG, 4.1 APG, 7.6 RPG, and 1.8 SPG. He stepped up even more for Indiana in the postseason where he helped them take the Heat to seven games in the Eastern Conference Finals.
Southwest Notes: Amundson, Mavs, Leuer
Here's a look at the Southwest Division..
- Former Pelicans forward Louis Amundson is talking to several teams, but he doesn't have an offer yet, a source tells Jared Zwerling of ESPNNewYork.com (via Twitter). Amundson had his rights renounced by New Orleans earlier this month. The UNLV product averaged 1.9 PPG in 9.5 minutes per contest for three teams last season.
- Mark Cuban's hiring of Gersson Rosas as the team's next GM is more than a change in the Mavericks' organization, it's an experiment in the world of bio-analytics, writes Jeff Caplan of NBA.com.
- ShamSports has the exact year-by-year breakdown on Jon Leuer's contract with the Grizzlies. The big man will make $900K in year one, $968K in 2014/15, and $1.035MM (non-guaranteed) in the final season.