Clippers Sign Reggie Bullock
The Clippers have officially signed Reggie Bullock, according to RealGM.com's transactions log. Bullock, a 6'7" shooting guard out of UNC, was selected 25th overall by Los Angeles in last month's draft.
Assuming the club and Bullock agreed to the 120% max of the rookie-scale amount, the standard rate for first-round picks, the 22-year-old will be in line for a first-year salary of $1,149,000, as our chart shows.
Knicks Re-Sign Pablo Prigioni
JULY 10TH, 9:34am: The Knicks have officially re-signed Prigioni, the team announced today (Twitter link).
JULY 4TH, 12:01pm: Prigioni's starting salary will be around $1.5MM, with the possibility of an increase to $2MM based on incentives, tweets Ian Begley of ESPNNewYork.com.
11:56am: Prigioni's deal with the Knicks will be for three years and $6MM, according to Shams Charania of RealGM.com (via Twitter). Charania adds that the third year will be partially guaranteed.
If that $6MM overall figure is accurate, it means Prigioni's first-year salary will be close to $2MM, which will take a more significant chunk out of the team's MLE than was anticipated.
11:44am: Pablo Prigioni has reached an agreement with the Knicks that will see him return to New York, his agent tells Jared Zwerling of ESPNNewYork.com (Twitter link). We had heard earlier today that the Knicks, who had an offer on the table for Prigioni, were likely to re-sign the veteran point guard.
According to that earlier report from Marc Berman of the New York Post, New York had offered Prigioni a two-year deal worth about $2.3MM. While it's not clear yet if those are the terms the two sides agreed to, such a deal would force the Knicks to use a portion of their mini mid-level exception. A first-year salary in the neighborhood of $1.15MM for Prigioni would leave the club with about $2MM of its $3.18MM MLE to use on another player.
The deal is the second of the day for the Knicks, who also reached an agreement on a four-year contract for J.R. Smith. Although the team was able to secure commitments from Prigioni and Smith, New York is unlikely to re-sign Chris Copeland. Copeland is believed to have at least three rival offers on the table, and the Knicks' only means of matching those offers would involve using their mid-level. Assuming just $2MM of that MLE remains, Copeland would almost certainly have to accept a discount to remain with the Knicks.
As for Prigioni, after spending most of his playing career overseas, the Argentinian guard joined the Knicks last season as a 35-year-old rookie. The AAI Sports client averaged 3.5 PPG and 3.0 APG in 78 contests (16.2 MPG) for the club.
Bucks Readying Offer Sheet For Jeff Teague
There are strong indications that the Bucks are preparing an offer sheet for restricted free agent Jeff Teague, according to ESPN.com's Marc Stein (via Twitter). Stein adds (via Twitter) that the threat of an offer sheet could lead the Hawks and Bucks to ramp up talks on a potential sign-and-trade.
Throughout free agency, Milwaukee has been said to covet Teague, and the Hawks have been linked to both Monta Ellis and Brandon Jennings, making a sign-and-trade deal a realistic possibility. However, it appears the Bucks' interest in Teague may be stronger than Atlanta's interest in either Ellis or Jennings. The Hawks also don't seem all that enthused by the possibility of re-signing Teague and are have shown some interest in Mo Williams as an alternative, according to Stein (via Twitter), so it will be interesting to see what the team decides to do in this situation.
There are a few points worth mentioning on a potential offer sheet for Teague from Milwaukee. First, if Teague officially signs an offer sheet from the Bucks, the teams will no longer have the option of working out a sign-and-trade — the Hawks would have three days to either match the offer or let Teague walk to the Bucks. Additionally, as Zach Lowe of Grantland points out (via Twitter), Milwaukee would likely have to make at least one corresponding roster move to clear space for a competitive offer for Teague. That could mean amnestying Drew Gooden, or renouncing their rights to Jennings and Ellis.
In other words, there's some incentive for both sides to negotiate a sign-and-trade here, so the rumblings that the Bucks are readying an offer sheet may be just a tactic to move those negotiations forward.
The NBA’s New Maximum Salaries
After jumping by 5.77% a year ago, the maximum salary for NBA players increased by a much more modest amount this year — about 1%. Here's a breakdown of how this season's maximum salaries compare to last season's, via cap expert Larry Coon (Twitter link):
These changes to the maximum salary won't have an impact on players like Dwight Howard or Chris Paul, whose salaries had already exceeded the max and been previously established. However, they'll have an effect on James Harden and Blake Griffin, who signed max-salary extensions last offseason with the Rockets and Clippers respectively. Those new deals will take effect this coming season, and will use the new max figures.
Because Griffin was voted to two All-Star teams during his rookie-scale contract, he's eligible for the "Derrick Rose Rule" extension, which means he'll earn the max for a player with seven to nine years of experience. Harden will earn the standard max for a player with one to six years of experience. Here's how the two deals will break down:
The new maximum salaries would also impact free agents like Brandon Jennings and Nikola Pekovic, but it appears unlikely that either of those guys will receive max deals.
Spurs Made Run At Andrei Kirilenko
The Spurs explored the possibility of acquiring Andrei Kirilenko from the Timberwolves via a sign-and-trade deal, but talks between the two sides appear to have ended without an agreement, reports Adrian Wojnarowski of Yahoo! Sports.
Although San Antonio seriously considered a multiyear offer for Kirilenko, the club doesn't have the cap space or exception room to add the Russian forward without a sign-and-trade. So far though, Timberwolves president Flip Saunders has shown little, if any, inclination to assist Kirilenko in securing a significant financial commitment from another club, sources tell Wojnarowski.
Kirilenko and the Spurs had been discussing an annual salary worth about $8-9MM, and Minnesota was unwilling to take back the salary necessary to complete a sign-and-trade for that amount, says Wojnarowski. Doing so would have compromised the Wolves' ability to add free agents Kevin Martin and Chase Budinger, and would have affected their continued pursuit of Corey Brewer.
According to Wojnarowski, the Thunder have resisted the idea of accommodating a sign-and-trade for Martin, while the Nuggets have been similarly reluctant to work out a sign-and-trade involving Brewer. Denver isn't interested in acquiring Luke Ridnour or J.J. Barea, which would likely be necessary for Brewer to earn a $5MM annual salary with the Wolves, notes Wojnarowski.
Although the Nuggets were also very interested in re-signing their own free agent swingman, the team has been unwilling to go as high as the Wolves on an offer for Brewer. With other teams also in the mix, it now appears unlikely that Brewer will return to Denver, according to Woj.
Warriors Sign Nemanja Nedovic
WEDNESDAY, 7:58am: The Warriors announced in a press release that the team has officially signed Nedovic, so presumably a buyout agreeement was reached.
TUESDAY, 4:34pm: 30th overall pick Nemanja Nedovic is working on a buyout with his Lithuanian team, and will sign with the Warriors for the 2013/14 season, according to Marcus Thompson of the Bay Area News Group (via Twitter).
Given the uncertainty surrounding Nedovic's buyout, the Warriors' cap situation, and the available roster spots in Golden State, there was no guarantee that the Serbian guard would come to the NBA immediately. However, it appears he'll be able to sign his rookie-scale contract in the near future. As our chart shows, that would put him in line for a first-year salary worth about $1.06MM.
When Nedovic finalizes his buyout and signs with the Warriors, he'll join a backcourt that will include Stephen Curry, Klay Thompson, and Toney Douglas. Andre Iguodala is also capable of playing both backcourt positions, and non-guaranteed players like Scott Machado and Kent Bazemore will be vying for roster spots as well.
2012/13 Taxpaying Teams
As teams get their books in order for the 2013/14 season, navigating the salary cap and the luxury tax threshold, Marc Stein of ESPN.com takes a look back at the league's 2012/13 finances. Stein shares the official list of teams that paid the luxury tax in 2011/12, along with the amount each club paid. The list is as follows:
- Los Angeles Lakers: $29,259,739
- Miami Heat: $13,346,242
- Brooklyn Nets: $12,883,647
- New York Knicks: $9,962,406
- Chicago Bulls: $3,932,336
- Boston Celtics: $1,181,640
The more punitive luxury-tax penalties introduced in the new Collective Bargaining Agreement are kicking in for the 2013/14 season, so the tax penalties for the aforementioned six teams come by way of the old system — teams are penalized $1 for every dollar they spend over the tax line. In 2012/13, that tax line was at $70,307,000, so the Celtics, for instance, spent $71,488,640 on team salary, plus the additional $1,181,640 in taxes.
Although the increasing tax rates will take effect this coming season, the additional penalties for repeat taxpayers won't be in play until the 2014/15 season. Teams in the tax for four seasons in any five-year period will be subject to that tax, so it's worth noting that the Lakers, Heat, and Celtics were all taxpayers last season as well. With L.A. and Miami projected to be well into the tax again for '13/14, both teams will have to cut costs the following season if they hope to avoid the repeater tax.
With a total of $70,566,010 in tax payments due before the end of the month, 50% of that amount will be distributed equally to non-taxpayers, as Stein writes. That means that each of the 24 clubs not listed above will receive 1/24th of $35,283,005, which works out to $1,470,125 per team.
For a more thorough breakdown of how the tax will be assessed going forward, check out our glossary entry, and if you're interested in the complete history of tax payments by NBA teams, visit ShamSports.com, where Mark Deeks has updated his spreadsheets on the subject.
Clippers Re-Sign Chris Paul
JULY 10TH: The Clippers didn't waste any time once the moratorium ended, officially announcing Paul's new deal on the team's website.
JULY 1ST: Chris Paul took to Twitter to announce his return to the Clippers this morning, adding confirmation to news that's been expected for some time. His representatives had begun telling other teams this weekend not to bother making a pitch to him, since he had already committed to the Clips.
Agent Leon Rose confirms to Ramona Shelburne of ESPNLosAngeles.com that Paul has verbally agreed to a five-year, $107MM deal, with the ability to opt out after four seasons (Twitter links). Presumably, that means Paul is getting the maximum salary, as our Luke Adams projected Paul would be in line for $107MM when he looked at maximum scenarios this spring. That number, like the deal itself, won't become official until the July Moratorium is over next week.
With Blake Griffin's extension set to kick in this coming season and Doc Rivers coming aboard this summer, the Clippers employ the league's highest paid coach and have committed more than $200MM to a pair of stars, as Arash Markazi of ESPNLosAngeles.com points out via Twitter. The deals for both Griffin and Paul will run through 2018, though Griffin, too, can opt out after 2016/17. Griffin has an early-termination option for 2017/18, and I'd imagine Paul's opt-out clause is in the form of an early-termination option, too.
Paul didn't speak to any other teams after free agency began late last night, notes Broderick Turner of the Los Angeles Times, and if he had, it would have been surprising. The hiring of Rivers as coach and primary front office decision-maker appeared to clinch the deal for Paul, whom other teams, like the Mavericks, Rockets and Hawks, had hoped could be lured away.
Paul and Dwight Howard had been considered the top two free agents on the market, and CP3 was far and away the best point guard available. Teams looking for a free agent option who can run their offense must turn to a crop headlined by Jose Calderon, Brandon Jennings and Jeff Teague. The Clippers have been rumored to be pursuing Howard in a sign-and-trade, but that appears to be a longshot.
Raptors To Sign Julyan Stone
JULY 10TH: Stone's deal will be worth about $1.9MM over two years, tweets Shams Charania of RealGM.com. A minimum-salary contract would be worth $1,832,456, so it's not clear whether Charania's figure is just slightly off, or whether the Raptors are signing Stone using a non-minimum exception.
JULY 4TH: The Raptors have agreed to sign free agent guard Julyan Stone to a two-year deal, reports Adrian Wojnarowski of Yahoo! Sports (via Twitter). The 24-year-old was eligible for restricted free agency this summer, but didn't receive a qualifying offer from the Nuggets, and became unrestricted.
With Sebastian Telfair and John Lucas III seemingly headed elsewhere in free agency, the Raptors are in the market for point guard help this summer. I doubt Stone will be Kyle Lowry's primary backup, but he could be a serviceable third-stringer at the point, and has played both backcourt positions in the past.
Presumably, new Raptors head of basketball operations and former Nuggets GM Masai Ujiri played a major role in luring Stone to Toronto. It's not clear if one or both of the years on Stone's deal will be guaranteed. Either way though, a multiyear contract for a player who has accumulated just over 200 NBA minutes in two seasons is rare.
While the level of guarantee on Stone's deal isn't yet known, I would assume it's for the minimum salary. Stone is represented by agent Giovanni Funiciello.
Pacific Notes: Nash, Jamison, Clippers
A few notes from around the Pacific Division.
- Steve Nash told ESPN 710 radio that he believes the Lakers had no chance in convincing Dwight Howard to re-sign in Los Angeles.
- ESPNLA.com's Ramona Shelburne tweets that free agent forward Antawn Jamison will delay his decision on signing with the Clippers until later in the week.
- The Clippers have officially renounced the rights to Chauncey Billups and Lamar Odom, but are still interested in signing Odom, according to a tweet from Los Angeles Times reporter Brad Turner.