Thunder To Get Cash For Change To Durant’s Deal
10:32pm: The league is giving the Thunder only a partial amount of the difference between a 25% max and a 30% max extension for Durant, Mayberry tweets.
10:10pm: Durant's cap figure will not change as a result of the reimbursement, reports Darnell Mayberry of The Oklahoman (Twitter link). That means his full paycheck will still count toward the Thunder's team salary for cap and luxury tax calculations.
9:36pm: The NBA's Board of Governors voted to compensate the Thunder for the additional salary Kevin Durant is receiving as a result of the "Derrick Rose rule" in the latest collective bargaining agreement, Grantland's Zach Lowe reports (Twitter link). The vote, which was not unanimous, followed a protest from Oklahoma City's brass over the adjustment that allowed Durant to receive a starting salary worth 30% of the salary cap in 2011/12 instead of 25%, Lowe tweets.
Durant received more than $15.5MM in the first season of the five-year extension to his rookie-scale contract. Without the benefit of the Rose rule, he only would have made about $12.9MM. The original value of the deal was approximately $75MM over five years, but that figure jumped to more than $89MM with the rule change. The Thunder will now receive the difference from the league. It's unclear whether Durant's cap figure will be reduced, Lowe adds (Twitter link), though the extra $14MM or so could persuade the team to dip into the tax this season to sign free agent target Mike Miller or another player.
The Rose rule stipulates that a former first-round pick who signs an extension to his rookie-scale contract may receive up a starting salary of up to 30% of the salary cap, with 7.5% raises, if he meets certain criteria. The "super-max" is triggered if the player is named to the All-NBA First, Second or Third team at least twice, voted as a starter in the All-Star game at least twice, or named the NBA Most Valuable Player at least once before the extension kicks in. Otherwise, the maximum starting salary the player could get would be 25% of the cap, also with 7.5% raises. Durant qualified for the 30% max thanks to multiple appearances on the All-NBA First Team.
Durant signed his extension in the summer of 2010, a year before the lockout took place. The new CBA took effect for the 2011/12, the first year the extension was in effect. The league applied the Rose rule to Durant, even though he and the Thunder negotiated and finalized the extension long before the new CBA was in place.
Northwest Notes: Pekovic, Neto, Jazz, Blazers
The Thunder's courtship of Mike Miller is the dominant headline among Northwest Division teams this evening, but it's not the only news. Here's more on some of the teams who've spent the last two seasons looking up at Oklahoma City in the standings:
- Nikola Pekovic has yet to receive an offer sheet from any team trying to pry him away from the Timberwolves, according to Charley Walters of the St. Paul Pioneer Press. The Wolves reportedly have offered a four-year deal worth as much as $50MM, and Walters figures he'll wind up signing it.
- Soon after the draft, it seemed unlikely 47th overall pick Raul Neto would join the Jazz for this season, and the Brazilian point guard recently told Basketeria that he'll probably spend 2013/14 playing in Spain (translation via Jody Genessy of the Deseret News). That appears to be the Jazz's preference, as Neto said last week that his choice is to play in the NBA, while Genessy notes that Jazz GM Dennis Lindsey wouldn't mind if he got more experience overseas.
- Kurt Kragthorpe of The Salt Lake Tribune believes that it's premature to declare the Jazz winners of the Deron Williams trade, in spite of the collection of assets Utah received.
- Trail Blazers GM Neil Olshey noted his preference to keep the team's roster at 14 players for now as he spoke on video with Dwight Jaynes of CSNNW.com. Ben Golliver of Blazer's Edge has a transcript of the conversation, which touched on a range of topics.
- Timberwolves 2012 second-round pick Robbie Hummel is with Minnesota's summer league squad as he attempts to find a way to the NBA. If he falls short, Spanish club Obradoiro CAB, with whom he played this season, and Pallacanestro Cantu of Italy are pursuing him, Sportando's Emiliano Carchia reports.
Thunder In Lead To Sign Mike Miller
8:31pm: Thunder GM Sam Presti is set to meet with Miller in Miami this week, The Oklahoman's Darnell Mayberry reports. Mayberry believes the team may waive DeAndre Liggins or Daniel Orton to accomodate a minimum-salary deal for Miller beneath the tax threshold.
5:16pm: The Thunder have interest in Miller, too, Berger tweets. Berger says the Thunder can only afford to sign him for the minimum, but I believe they have the bi-annual and mid-level exceptions available. Still, using them would likely push the team into tax territory, so the Thunder might not want to go any higher than the minimum salary.
5:00pm: Miller is telling friends he'll likely sign with the Thunder, according to Ken Berger of CBSSports.com (via Twitter).
4:55pm: Now that Mike Miller has cleared amnesty waivers, he's free to sign with any team besides the Heat, and the Thunder have emerged as a frontrunner for his services, according to Adrian Wojnarowski of Yahoo! Sports (via Twitter). David Aldridge of TNT reports (via Twitter) that the Grizzlies are also a "strong suitor" for the veteran forward.
In addition to the Thunder and Grizzlies, the Rockets, Spurs, and Warriors have been identified as potential destinations for Miller. Since he's in position to earn $12.8MM over the next two years from the Heat, money may not be Miller's number one concern. Still, with so many teams potentially in play, it may take an offer worth more than the minimum – or for more than one season – to lock up the 33-year-old.
Any team that makes Miller an offer will likely have to take a close look at his medical reports, since the sharpshooter is reportedly considering undergoing a procedure on his back to repair bulging disks.
Bobcats Receive NBA’s OK To Become Hornets
The Bobcats have received official league approval to change their name to the Hornets, reports Rick Bonnell of the Charlotte Observer. The Board of Governors voted unanimously to grant the team permission to adopt the Hornets monicker that the New Orleans Pelicans abandoned this spring. Approval had been widely expected since the team announced its intentions in May. The change will take place for the 2014/15 season.
The franchise now known as the Pelicans originally began as the Charlotte Hornets, and sellout crowds were the norm for the first several years of the franchise. North Carolina fans soured on ownership in the late 1990s and early 2000s, prompting the move to New Orleans.
Still, the Hornets nickname evokes fond memories for some in the Charlotte area, though Bobcats owner Michael Jordan called results from a poll of the team's fans "very mixed." The Bobcats nonetheless made the decision to change their name following the market research the club began in January. When the club made its announcement in May, Jordan indicated that fan response to the Hornets name was mostly positive, saying in part that, "Our fans spoke and we listened.”
Eastern Rumors: KG, Mo Williams, Hawks, Cavs
In his introductory press conference with the Nets today, Kevin Garnett admits he "absolutely" considered retirement this spring, and indicated that Paul Pierce's uncertain future with the Celtics was a major reason why. Gary Washburn of the Boston Globe has more from Garnett. Washburn rounds up Pierce's comments as well, and we'll take a look at the rest of the East:
- The last we heard on Mo Williams was that he's prepared to take a discount to sign with a contender, and HoopsWorld's Steve Kyler reiterates that, tweeting that Williams is telling people he'll look to sign with the Heat if offers from other clubs don't improve.
- The Hawks are mulling whether to sign 16th overall pick Lucas Nogueira this summer or let him play overseas this year, as Chris Vivlamore of the Atlanta Journal-Constitution examines (subscription required).
- Atlanta paid $550K to buy 15th pick Dennis Schröder out of his European deal, and a larger buyout would be probably be necessary for Nogueira, Vivlamore writes in the same piece. NBA clubs can only pay up to $575K in a buyout without money coming out of the player's check.
- The Cavs are high on undrafted guard Matthew Dellavedova, and would like see him play for their D-League affiliate, tweets Jason Lloyd of the Akron Beacon Journal. The St. Mary's product is drawing offers from overseas that could complicate matters, Lloyd notes.
- Foreign clubs are also showing interest in Chris Quinn, who's with the Cavs on a non-guaranteed minimum-salary deal. Quinn isn't likely to last long in Cleveland, and the Cavs may cut him soon to allow him to pursue other opportunities, according to Lloyd (Twitter link).
- Talks between the Knicks and Bobby Brown are gathering steam, a source tells Jared Zwerling of ESPNNewYork.com. The Creative Artists Agency client was among a group who worked out for the Knicks this week, though five other teams have interest, Zwerling says.
- Toure Murry has also made a positive impression on the Knicks, Zwerling adds.
Raptors Buy Out Marcus Camby
THURSDAY, 6:06pm: The Raptors and Camby have completed the buyout, tweets Ian Begley of ESPNNewYork.com. Begley says Camby is a free agent now, but the veteran center will have to clear waivers first. Camby is hoping to play two more years before getting into coaching, as Zwerling reported today.
WEDNESDAY, 11:05pm: Camby and the Raptors are still working on the details of the buyout, which has not yet been finalized, reports Jared Zwerling of ESPNNewYork.com. Still, an agreement remains in place and the parting of ways should be official by the end of the week, Zwerling writes. The Heat, Rockets, Bulls and Clippers are the front-runners to sign Camby once he clears waivers and becomes a free agent, Zwerling hears.
2:05pm: The Raptors have agreed to a buyout with Marcus Camby and have released him, the team formally announced today (Twitter link). Marc J. Spears of Yahoo! Sports reported last night that Toronto was expected to reach a buyout agreement with Camby.
Camby, 39, was sent back to Toronto, where he started his NBA career, in the trade that saw the Knicks acquire Andrea Bargnani. Not long after the move was agreed upon, the veteran big man expressed some unhappiness with being traded to a non-contender, and Marc Berman of the New York Post reported shortly thereafter that Camby had asked to be traded or bought out.
Camby was set to earn $4.38MM in 2013/14 and was on the books for a $4.18MM salary the following season, though only about $1.03MM of that second year was guaranteed. I would guess that Camby probably agreed to give up that second-year guarantee in his negotiations with the Raptors, though the terms of the buyout aren't known. The move also reduces the cap hit for Toronto, since the club can apply the stretch provision to Camby's deal.
Assuming Camby clears waivers, which seems like a safe bet, he'll be free to sign with any team except the Knicks, who are ineligible to re-add him until next July. However, according to Spears, other contenders like the Clippers, Bulls, and Rockets could have some interest.
Kings Sign Ray McCallum
5:58pm: Jason Jones of The Sacramento Bee hears McCallum received a guaranteed three-year contract (Twitter link).
5:50pm: The Kings have officially signed Ray McCallum, the 36th pick in last month's draft, the team announced in a press release. Financial terms weren't disclosed, but it's probably a partially guaranteed multiyear deal, based on what we've seen a few other second-rounders sign for this year. It's unlikely he'll make much more than the minimum salary.
McCallum, a 6'2" point guard out of the University of Detroit, will join fellow rookie Ben McLemore on the Kings this season. The steady floor general figures to have an uphill battle for minutes, with veteran Greivis Vasquez set to start and Isaiah Thomas and Jimmer Fredette also on the roster.
The 22-year-old McCallum averaged 18.7 points, 4.5 assists and 2.1 turnovers per game this past season at Detroit. He's not a long-distance shooter, having drained just 32.3% of his three-point looks last year, but he hit the boards for 5.1 rebounds per contest.
Andrew Bynum Signs With Cavs
JULY 18TH: Bynum has officially signed his contract, the team announced. For cap-related reasons, the Cavs had delayed finalizing the deal while they considered claiming Mike Miller off waivers, but with Miller now a free agent, that appears to have cleared the way for Bynum to officially join the Cavs.
JULY 10TH, 7:01pm: Bynum's deal is for $12MM this season, only $6MM of which is guaranteed, tweets Adrian Wojnarowski of Yahoo! Sports. It also includes a $12.5MM team option for 2014/15.
6:52pm: Andrew Bynum has decided to sign with the Cavaliers, as Chris Broussard of ESPN.com hears (Twitter link). Bynum and agent David Lee just got off the phone with Cleveland to inform the club of the center's intentions, tweets Sam Amico of Fox Sports Ohio. The Cavs, who reportedly offered a partially guaranteed two-year, $24MM deal, were growing increasingly unsure of their ability to land the oft-injured center, Amico wrote earlier today, but it looks like their fears were unfounded.
Only $6MM was guaranteed in the team's offer to Bynum, but it still appeared to be the most guaranteed money any team was willing to give him as his field of suitors narrowed to the Cavs, Mavericks and Hawks. The Sixers weren't ruling out a return, but they seemed a longshot.
The Cavs will bank on a return to health for the 2012 All-Star who missed the entire 2012/13 season. The Sixers acquired Bynum last summer as part of the blockbuster Dwight Howard deal, but he never suited up for Philadelphia, felled by a pair of balky knees that also caused him to miss significant time during his seven years with the Lakers.
Cleveland could wind up with a marquee player on the cheap, as Bynum appeared headed toward a maximum-salary contract, or something close to it, before he missed last season. The deal adds to a crowded frontcourt that includes Anderson Varejao, Tristan Thompson and No. 1 pick Anthony Bennett, and it could signal a trade is forthcoming, though that's just my speculation.
Bynum will reunite with Cavs coach Mike Brown, who coached him during his final season with the Lakers. Brown's presence was a factor in Bynum decision, Amico tweets, as the big man feels the team simply wanted him more than any other club.
Anthony Morrow Signs With Pelicans
JULY 18TH: The Pelicans officially announced Morrow's signing in a press release.
JULY 9TH: Free agent guard Anthony Morrow is close to agreeing in principle on a contract with the Pelicans, according to a tweet from RealGM's Shams Charania. According to Yahoo! NBA reporter Marc J. Spears, the deal will be for two years at the league minimum, with a player option on year two.
A career 42.4% shooter from behind the arc, Morrow spent the first half of last season with the Hawks before being traded to the Mavericks. He found himself out of the rotation in both destinations, playing only a combined 383 minutes last year.
Timberwolves Sign Ronny Turiaf
JULY 18TH: The Timberwolves have made the signing of Turiaf official (Twitter link).
JULY 11TH: According to agent Mark Bartelstein, Ronny Turiaf has agreed to sign with the Timberwolves, reports David Aldridge of NBA.com (via Twitter). The deal is worth $3.2MM over two years, tweets RealGM's Shams Charania. The Wolves will be the seventh team in nine years in the NBA for the 30-year-old Turiaf, who spent the 2012/13 season with the Clippers. He played 65 games in Los Angeles, averaging 1.9 PPG and 2.3 RPG in 10.8 minutes.
Per Jerry Zgoda of the Star Tribune, Bartelstein said that team president Flip Saunders was pivotal in recruiting Turiaf to Minnesota. Bartelstein added that Turiaf sees himself playing a Brad Miller-like role in head coach Rick Adelman's system, and the Gonzaga product expects to compete for minutes right away (Twitter links). Given all the injury problems they had last year, Turiaf should at least provide some much-needed depth for the Wolves.