JULY 9TH, 12:23pm: Both deals are official, the Nets announced via press release.
“We are very pleased to welcome Brook and Thaddeus back the Brooklyn Nets,” GM Billy King said. “Brook is one of the premier big men in this league, while Thad proved to be a perfect complement to Brook last year after he was acquired from Minnesota. Being able to re-sign both of our free agent targets allows us to provide the continuity in our frontcourt that we were looking for going into the upcoming season.”
11:02am: Lopez’s deal doesn’t include a player option, after all, according to Bleacher Report’s Howard Beck (Twitter link).
10:35am: The Nets and both players have indeed reached agreement, according to Wojnarowski (on Twitter). Young is getting a player option, too.
12:55am: Lopez’s deal will include a player option after the second season, Wojnarowski reports.
JULY 1ST, 12:04am: The Nets appear to be all but finished securing Brook Lopez and Thaddeus Young, as expected. A source close to the talks told Marc Stein of ESPN.com to “consider them done deals” (Twitter link). Lopez is expected to sign for three years and $60MM, which is about the maximum, while Young is expected to get four years and $50MM, according to Stein.
This news doesn’t come as a surprise, with Adrian Wojnarowski of Yahoo! Sports previously reporting that Brooklyn was the frontrunner to re-sign both players. The Nets have reportedly been planning to pay Lopez his full market value, although the agreement could include some financial protections for Brooklyn should a recurrence of the seven-footer’s past foot issues sideline him again, Wojnarowski noted. Lopez could also opt to have the agreement include a player option for the third year, which would allow him to re-enter free agency after the maximum contract salaries elevate with the flow of new television money.
Young had reportedly been leaning toward opting out back in May, though Young’s agent, Jim Tanner, had suggested that he instead opt in and hit free agency next summer, when the salary cap is projected to surge. The 27-year-old averaged 14.1 points and 5.4 rebounds in 32.0 minutes per game this season, and was acquired by Brooklyn in a midseason trade with Minnesota. Young will still likely listen to pitches from other teams despite the mutual interest in a return to Brooklyn, according to Marc J. Spears of Yahoo! Sports. The Magic are reportedly interested in signing the forward, per Michael Scotto of SheridanHoops.