Heat Sign Kelly Olynyk To Four-Year Deal
JULY 7, 3:19pm: The Heat have officially signed Olynyk, the team announced today in a press release.
“As soon as Kelly Olynyk became an unrestricted free agent, we pursued him,” Heat president Pat Riley said in a statement. “He is not only a post player, he can also play away from the basket. What we like the most is that he is a playmaker, tough defender and rugged rebounder. At just 26 years old, he fits in perfect with our young core that will play together in their primes.”
JULY 6, 6:45pm: The Heat have reached an agreement on a four-year contract with free agent center Kelly Olynyk, according to Adrian Wojnarowski of ESPN, who reports (via Twitter) that the deal is worth $50MM. Olynyk’s new deal will include a fourth-year player option, Wojnarowski adds (via Twitter).
Because the Celtics withdrew Olynyk’s qualifying offer earlier this week, he’s an unrestricted free agent and can sign outright with Miami. Boston needed to clear the big man’s cap hold from its books in order to help create enough space for Gordon Hayward‘s new maximum salary deal with the team. Until Olynyk’s QO was rescinded, he had been a restricted free agent, but becoming unrestricted helped accelerate his market.
Olynyk, 26, appeared in 75 regular season games for the Celtics last season, averaging 9.0 PPG and 4.8 RPG and once again showed off an ability to make an outside shot (.368 career 3PT%). His most memorable performance in Boston came in Game 7 of the Eastern Conference semifinals against the Wizards, when he helped the C’s seal the series with a 26-point outburst.
By signing with the Heat, Olynyk will join a frontcourt that needed a little depth, given Willie Reed‘s free agency. Veteran power forward James Johnson also reached the open market over the weekend, but Olynyk’s deal won’t preclude a new agreement with Johnson, according to Ira Winderman of The South Florida Sun Sentinel, who tweets that the team still intends to get something done with the unrestricted free agent.
Having now reached eight-figure deals with Olynyk and Dion Waiters, the Heat only have about $6MM in cap room left over, but could open up another $6MM+ by waiving Wayne Ellington‘s non-guaranteed contract and another $4MM or so by stretching Josh McRoberts‘ deal.
Tim MacMahon of ESPN.com reports (via Twitter) that the Mavericks and Heat have had discussions about a trade that would create more space for Miami, so it’s possible that Dallas is willing to take on McRoberts — Tyler Johnson would be the other logical trade candidate on the roster.
Photo courtesy of USA Today Sports Images.
Celtics Trade Avery Bradley To Pistons
2:56pm: The Celtics and Pistons have sent out press releases confirming that Bradley and a 2019 second-round pick are headed to Detroit in exchange for Morris. The deal is now official.
9:17am: The Celtics and Pistons are finalizing a trade that will send Avery Bradley to Detroit, league sources tell ESPN’s Adrian Wojnarowski. According to Shams Charania of The Vertical, Boston will also send out a 2019 second-round pick and will receive Marcus Morris in the swap.
Because Morris’ $5MM salary for 2017/18 is about $3.8MM lower than Bradley’s figure, the move will allow the Celtics to create the cap room necessary to finalize their maximum salary deal with Gordon Hayward, per Bobby Marks of ESPN. The club also has the $4.328MM room exception available for another free agent.
[RELATED: Gordon Hayward to sign four-year deal with Celtics]
Boston had reportedly been shopping Bradley, Jae Crowder, and Marcus Smart in an effort to clear enough space for Hayward’s new contract. With Bradley on the move, Crowder and Smart are poised to stay put, at least for now.
In addition to creating some cap space, the trade will add a power forward to a Celtics rotation that is in need of bigs. So far this offseason, the Celtics have waived Tyler Zeller and lost Amir Johnson and Kelly Olynyk in free agency, creating some frontcourt concerns for a team that already lacked reliable rim protection and rebounding. Morris isn’t an elite rebounder, but the 6’9″ forward has the ability to guard bigger players.
During his two seasons in Detroit, Morris missed just five regular season games, making 159 starts for the Pistons. He averaged 14.1 PPG, 4.8 RPG, and 2.3 APG, with a shooting line of .426/.345/.763.
As for the Pistons’ side of the swap, the team had entered the offseason with a need for some backcourt depth and has now added Bradley and Langston Galloway. With Detroit’s payroll on the rise and its backcourt filling up, it will be interesting to see whether the team remains committed to retaining Kentavious Caldwell-Pope.
By exceeding the taxpayer mid-level exception to sign Galloway, the Pistons created a hard cap of $125.266MM, significantly limiting their ability to match a big offer sheet for KCP unless they can shed a contract or two. Team salary is currently in about the $109MM range. For what it’s worth, ESPN’s Brian Windhorst (Twitter link) suggests the club’s talks with Caldwell-Pope haven’t progressed, and speculates that the team may make him unrestricted or decline to match an offer sheet.
Bradley, 26, enjoyed his best season in 2016/17 on a per-game basis, averaging new career bests in PPG (16.3), RPG (6.1), APG (2.2), and a handful of other categories. He also provided excellent perimeter defense and shot .463/.390/.731.
Although Bradley is a very solid pickup for the Pistons, he’ll be an unrestricted free agent a year from now, which is perhaps one reason the Celtics ended up moving him — Crowder remains under contract for three years, while Smart is a restricted free agent next summer and Morris has two years left on his deal, so the team retains some control on all three of those players. Wojnarowski suggests that the Pistons may be aggressive in pursuing a new deal for Bradley, who is extension-eligible, but the team’s cap situation limits its ability to give him a major raise before next summer.
Before agreeing to a trade with the Pistons, the Celtics reportedly talked to the Jazz about a sign-and-trade involving Crowder and to the Knicks about a deal that would have included Smart. Wojnarowski adds (via Twitter) that the Lakers and Clippers were “prominent in [Bradley] talks until the end.”
As an aside, it’s worth noting that the NBA’s new Collective Bargaining Agreement was put to good use in this deal. Under the new CBA, over-the-cap teams are permitted to take back 175% of their outgoing salary, plus $100K, instead of 150% plus $100K (up to a $5MM difference in salaries). In the old system, Detroit would only have been able to take back up to $7.6MM for Morris, but the new CBA allows the team to squeeze in Bradley’s $8.809MM salary.
Photo courtesy of USA Today Sports Images.
Free Agent Rumors: Clippers, KCP, Lakers, Casspi
Free agent big man Willie Reed is meeting today with the Clippers, league sources tell Alex Kennedy of HoopsHype (Twitter link). ESPN’s Adrian Wojnarowski confirms the meeting and adds (via Twitter) that Jeff Withey is also sitting down with the club today. Los Angeles doesn’t have a whole lot of financial flexibility left, having used most of its mid-level exception on Milos Teodosic, but the club remains in the market for a backup for DeAndre Jordan, with Marreese Speights having opted out.
Here’s more on free agency:
- The Pistons‘ best offer to Kentavious Caldwell-Pope was worth $80MM over five years, which “wasn’t even close” to what the free agent guard was seeking, a source tells Jake Fischer of SI.com (Twitter link). Vince Ellis of The Detroit Free Press (Twitter link) also hears the two sides weren’t at all close, though he doesn’t confirm those specific figures. Caldwell-Pope is now an unrestricted free agent.
- The Lakers have shown some interest in Rodney Stuckey, but have only had preliminary discussions on that front, writes Mark Medina of The Orange County Register. Alex Kennedy (Twitter link) first reported L.A.’s interest in Stuckey.
- Before he agreed to sign with the Warriors on a minimum salary deal, Omri Casspi turned down a one-year, $4.5MM offer from a probable lottery team, according to ESPN’s Zach Lowe, who notes that Casspi opted for a chance at a title instead of the bigger payday.
- The Timberwolves are said to be trying harder to unload Cole Aldrich‘s contract in an effort to land C.J. Miles, but the team remains reluctant to attach a first-round pick, tweets Darren Wolfson of 5 Eyewitness News.
Bojan Bogdanovic’s Becomes UFA; Pacers Make Push
1:45pm: The Pacers have emerged as the frontrunners to sign Bogdanovic, according to ESPN’s Adrian Wojnarowski (via Twitter).
1:36pm: The Wizards have withdrawn their qualifying offer on Bojan Bogdanovic, giving up their right of first refusal on the free agent forward, tweets TNT’s David Aldridge. As a result of the move, Bogdanovic will be an unrestricted free agent and can sign outright with any team.
Bogdanovic, 28, enjoyed the best season of his NBA career in 2016/17, starting 54 games for the Nets before being sent to the Wizards in a deadline deal. For the season, the 6’8″ swingman averaged 13.7 PPG and 3.4 RPG, with a .445/.367/.893 shooting line.
Despite his solid production, Bogdanovic isn’t viewed as an elite two-way player, so it came as a bit of a surprise when one report indicated he was seeking $16MM annually over three or four years. That sort of money may have been available for a player like Bogdanovic in free agency a year ago when nearly every team had cap room, but the market hasn’t been as prosperous this time around.
Sean Deveney of The Sporting News suggested on Thursday that Bogdanovic’s price tag was “quickly dropping,” though perhaps becoming unrestricted will help. The Hawks, Kings, and Nuggets were among the teams showing interest earlier in free agency — it’s not clear if they’re all still in the mix.
The Wizards are poised to match the Nets’ offer sheet for Otto Porter and reached a deal with Jodie Meeks earlier this week, which made Bogdanovic the odd man out in D.C.
Jaron Blossomgame To Join Austin Spurs
1:30pm: Blossomgame will be joining the Austin Spurs, San Antonio’s G League affiliate, but not on a two-way contract, according to Michael C. Wright of ESPN.com. Wright indicates that Blossomgame will get a standard G League contract, as the Spurs retain his NBA rights. That will give the club the flexibility to add two other players on two-way contracts.
10:39am: Reports of Blossomgame signing a two-way contract are “not accurate,” per Jeff McDonald of The San Antonio Express-News (Twitter link).
It’s not clear whether the Spurs intend to sign Blossomgame to an NBA contract or if no decision has been made yet. Since he was a draft pick, San Antonio holds Blossomgame’s NBA rights, so the two sides figure to work something out at some point.
8:27am: The Spurs will sign 2017 second-round pick Jaron Blossomgame to a two-way contract, according to Chris Reichert of 2 Ways & 10 Days (via Twitter). The deal is not yet official.
Blossomgame, a 6’7″ forward, was ranked as the 50th-best prospect in this year’s draft class by DraftExpress. In his senior season at Clemson, Blossomgame averaged 17.6 PPG and 6.3 RPG in 33 games. The Spurs made him the 59th overall pick in the draft last month.
As we’ve detailed, two-way contracts are a new addition to the league’s Collective Bargaining Agreement that allow teams to control two extra players who primarily play for the club’s G League affiliate. They can be called up to the NBA roster, but only for up to 45 days per season.
Blossomgame is the third late-second-round pick to agree to a two-way contract, along with the Pacers’ Edmond Sumner (No. 52) and the Suns’ Alec Peters (No. 54). I expect most second-round selections will avoid having to sign two-way deals, but I wouldn’t be surprised if teams picking late in the draft spoke to players and agents before draft day to see if they’d be amenable to doing a two-way deal.
Heat Trade Josh McRoberts To Mavericks
The Heat and Mavericks have officially finalized a deal that sends veteran forward Josh McRoberts to Dallas, the Heat announced today in a press release. In addition to McRoberts, the Mavs will receive a 2023 second-round pick and cash considerations. Miami will acquire young center A.J. Hammons.
The move is a salary dump from the Heat’s perspective, and helps clear the way for the team to finalize its contract agreements with Dion Waiters, Kelly Olynyk, and James Johnson. All three players reached deals with Miami this week that will reportedly pay them between $12-15MM annually.
[RELATED: Heat’s summer contract agreements, via our free agent tracker]
McRoberts has been limited by injuries for the last two seasons, and may not have a future with the Mavericks, who could stretch the final year of his contract if they so choose. Last season, the 30-year-old averaged 4.9 PPG and 3.4 RPG in 22 games (14 starts) for the Heat.
The Heat have already traded their second-round picks in each of the next four years, meaning the earliest pick Miami could have offered would have been its 2022 selection. The club hangs onto that pick in the transaction, sending its 2023 second-rounder instead. Meanwhile, the amount of cash changing hands isn’t known, but the cap for the 2017/18 league year on cash paid or cash received is $5.1MM.
Lakers Interested In KCP On One-Year Deal
With Kentavious Caldwell-Pope heading to the unrestricted free agent market, the Lakers have significant interest in pursuing him, reports Adrian Wojnarowski of ESPN (Twitter link). However, according to Wojnarowski, that interest will hinge on Caldwell-Pope’s willingness to sign a one-year “balloon” deal.
The Lakers have been unwilling this summer to commit to multiyear deals for free agents, since the team intends to retain as much cap flexibility as possible for the summer of 2018, when potential targets like LeBron James and Paul George will reach free agency.
By my estimation, the Lakers have a little over $17MM in available cap room. The team reportedly made a one-year, $17MM offer to Dion Waiters, and would likely put the same offer on the table for Caldwell-Pope. However, the former Pistons guard could almost certainly land a more lucrative multiyear deal from another team, such as the Nets — assuming the Wizards match their offer sheet for Otto Porter.
Still, a one-year deal might hold some appeal for Caldwell-Pope, particularly if he were given a primary scoring role. His numbers haven’t improved much over the last three years, but he’s still just 24 years old and probably has more upside than he has shown. If he were to sign a one-year deal with the Lakers and enjoyed a breakout season in 2017/18, he’d likely be one of the top players on the market a year from now. Given how many teams are expected to be over the cap in 2018 though, I’d still expect Caldwell-Pope to pursue a long-term payday this year if such an offer is out there for him.
J.J. Redick provided a blueprint for a one-year “balloon” offer earlier in the week when he reached a one-year, $23MM agreement with the Sixers.
Raptors Re-Sign Kyle Lowry
JULY 7, 11:39am: The Raptors have officially signed Lowry to his new deal, the team announced today in a press release.
“Kyle has been a valuable part of our team’s success the past five years,” Raptors president Masai Ujiri said in a statement. “He has grown as a player and person during his time in Toronto and we are excited that he wants to be here to help us continue building a championship program.”
JULY 2, 4:24pm: Lowry’s new deal with the Raptors will be for three years and $100MM, according to Michael Scotto of Basketball Insiders (Twitter link). That’s just a little less than a maximum salary deal for the veteran point guard, and it includes incentives, tweets Sam Amick of USA Today.
4:19pm: The Raptors and Kyle Lowry have agreed to a new deal. Terms of the agreement aren’t yet known, but Lowry has announced in a piece for The Players’ Tribune that he has decided to remain with Toronto.
“I’m coming back to Toronto because my heart is telling me that it’s home — and because staying home, for me and my family, feels like the right thing to do,” Lowry writes. “My heart is telling me that this is the best city in the world, with the best basketball fans in the world. It’s telling me that the Raptors can be a championship-level team, sooner than later. And I’ll be honest (and don’t hate) — it’s telling me that I’ve still never had poutine.”
[RELATED: 2017 NBA Free Agent Tracker]
Lowry, 31, entered this summer as one of the top free agents available at point guard or any position. He’s coming off his third straight All-Star season, having averaged a career-best 22.4 PPG to go along with 7.0 APG, 4.8 RPG, 1.5 SPG, and a shooting line of .464/.412/.819. The Philadelphia native was limited to 60 games due to a broken wrist and missed Toronto’s last two postseason contests due to an ankle injury, but will be 100% for the start of the 2017/18 season.
While it wasn’t a sure thing that Lowry would re-sign with the Raptors this season, many of his other potential suitors addressed their point guard position in other ways within the last week or two. For instance, the Sixers drafted Markelle Fultz, the Nets acquired D’Angelo Russell in a trade, and the Timberwolves committed to sign Jeff Teague.
Those moves – and others – all nudged Lowry back in the direction of Toronto, and his return looked more than ever like a lock when Serge Ibaka reached an agreement with the club earlier today. Lowry and Ibaka share an agent, ASM’s Andy Miller, and it made a lot of sense for the team to re-sign one player if the other returned, since the Raps wouldn’t have any cap room to sign a suitable replacement.
With both Lowry and Ibaka back in the fold, the Raptors project to be well over the luxury tax line, but they’re exploring ways to reduce team salary. The club is said to be discussing a Cory Joseph trade with the Pacers, which would move Joseph’s $7.63MM salary in return for draft-pick compensation. DeMarre Carroll and Jonas Valanciunas are also trade candidates, though it would be virtually impossible to move Carroll without attaching an asset or two to him.
Lowry and Ibaka both agreed to three-year deals, which puts them on track to expire in the summer of 2020. That’s the same offseason that DeMar DeRozan will have the chance to opt out and return to the free agent market as well, so it looks like Toronto aims to contend with its same core for at least the short-term future. The Raps will have the opportunity to potentially reconsider their options by that summer of 2020.
The development of some of the Raptors young players could be key in determining whether or not the club can take the next step and truly challenge for a spot in the NBA Finals. Delon Wright and Fred VanVleet, in particular, could be asked to take on larger roles backing up Lowry if Joseph is dealt. Norman Powell also figures to play more minutes with P.J. Tucker headed to Houston, while Jakob Poeltl and Lucas Nogueira could see more playing time in the frontcourt if Patrick Patterson departs and/or Jonas Valanciunas is traded.
Photo courtesy of USA Today Sports Images.
Eastern Rumors: Nets, Hardaway, Hornets, Celtics
Before Rudy Gay signed with the Spurs, the Nets expressed interest in the veteran forward, having viewed him as a contingency plan in the event that the Wizards match their offer sheet for Otto Porter, reports Michael Scotto of Basketball Insiders (Twitter link).
With Gay off the board and Porter likely to be retained by Washington, the Nets will be a “strong contender” for Kentavious Caldwell-Pope, tweets Adrian Wojnarowski of ESPN.com. That’s no surprise, now that the 24-year-old is unrestricted, but for Caldwell-Pope to be an option for Brooklyn, his camp may have to be patient, since the Nets’ cap room may be tied up for a few days until the Wizards make their decision on Porter official.
Here’s more from around the East:
- Before the Knicks swooped in with a $71MM offer sheet, the Hawks were willing to offer Tim Hardaway Jr. a four-year deal in the $48MM range, league sources tell ESPN’s Zach Lowe. We’ll see if Atlanta is willing to go significantly higher than that to match New York’s offer, or if Hardaway will return to the Knicks.
- The Hornets are in the market for another big man, GM Rich Cho said today (Twitter link via Rick Bonnell of The Charlotte Observer). Charlotte is also evaluating whether to sign a third point guard or keep Briante Weber in that role. Weber has a non-guaranteed contract.
- Raptors president Masai Ujiri said today that he’s comfortable entering the 2017/18 season as a tax team, but there’s still plenty of time to make moves. He’s waiting for the trade market to open up a little, tweets Josh Lewenberg of TSN 1050.
- The plan for the Celtics has always been to have draft-and-stash prospect Guerschon Yabusele on their roster this fall, a league source tells Adam Himmelsbach of The Boston Globe (Twitter link). As ESPN’s Bobby Marks notes (via Twitter), Boston will likely need to waive or trade Jordan Mickey and Demetrius Jackson to retain Yabusele’s cap hold.
Pistons Renounce Kentavious Caldwell-Pope
11:04am: The Pistons are renouncing Caldwell-Pope, which will make him an unrestricted free agent, tweets ESPN’s Adrian Wojnarowski.
The timing of the move is interested, since the Nets’ cap room may be tied up for several days as they wait for official word from the Wizards on Porter. We’ll see if Caldwell-Pope waits on Brooklyn or quickly pursues a deal with another team.
11:02am: In the wake of their trade agreement for Avery Bradley, the Pistons are prepared to move on from Kentavious Caldwell-Pope, reports Vince Ellis of The Detroit Free Press (Twitter link). According to Ellis, Detroit is looking to add “two more guys” to its roster. But Caldwell-Pope may not be one of them.
[RELATED: Celtics to trade Avery Bradley to Pistons]
Talks between the Pistons and Caldwell-Pope haven’t progressed so far, as Brian Windhorst of ESPN tweeted earlier today. Windhorst noted that there’s a possibility Detroit will pull Caldwell-Pope’s offer and make him an unrestricted free agent. While that hasn’t happened yet, it doesn’t look like the Pistons will match a big offer sheet for KCP.
Caldwell-Pope, 24, is viewed as one of the top two-way wings left on the market, but the qualifying offer he received from the Pistons gives Detroit the opportunity to match any offer sheet he signed. However, having added Langston Galloway, Eric Moreland, and Bradley, the Pistons have upwards of $109MM in salary commitments and have a hard cap of $125.266MM.
While Caldwell-Pope may not receive a maximum salary deal, any offer worth more than about half the max would put the Pistons in a tough spot. And with Galloway and Bradley now in the mix, the team’s need for another guard has diminished — especially since Bradley can provide the sort of three-point shooting and defense that KCP did.
A report from ESPN’s Adrian Wojnarowski earlier today suggested that the Pistons may be aggressive in trying to extend Bradley, but the club’s cap situation limits its ability to make a competitive offer. Ellis (Twitter link) hears from a source that Bradley won’t do an in-season extension since the money is too low, but the team still hopes to have him long term in Detroit. He’ll be an unrestricted free agent next summer and the Pistons will hold his Bird rights.
Whether or not Caldwell-Pope’s qualifying offer is rescinded by the Pistons, it may make sense for his camp to wait to see what happens with the Nets and Otto Porter. The Wizards are expected to match Brooklyn’s offer sheet for Porter, and Caldwell-Pope may be next up on the Nets’ wish list.