Raptors Re-Sign Serge Ibaka To Three-Year Deal
JULY 7: The Raptors have issued a press release formally confirming their new deal with Ibaka.
“We are thrilled with the skills and intangibles Serge brings to our team,” Raptors president Masai Ujiri said in a statement. “He is one of the top two-way power forwards in the NBA and his ability to stretch the floor is a valuable asset today’s game.”
JULY 2: The Raptors have reached an agreement on a new deal for Serge Ibaka, reports Adrian Wojnarowski of ESPN. According to Wojnarowski, Ibaka has agreed to sign a three-year contract worth $65MM to remain in Toronto.
Ibaka, who will turn 28 in February, initially joined the Raptors in a trade deadline deal back in February, as the Magic sent him to Toronto in exchange for a package that featured Terrence Ross and a first-round pick. The veteran big man averaged 14.2 PPG, 6.8 RPG, and 1.4 BPG with a .398 3PT% down the stretch for the Raptors, and there was a sense that the two sides wanted to continue the relationship beyond this year.
Ibaka is no longer the dominant rim protector that he was during his prime years in Oklahoma City, when he led the NBA in blocks in consecutive seasons. However, he has developed into a legitimate outside threat, setting new career bests in three-point percentage (39.1%) and threes per game (1.6) in 2016/17.
With Ibaka back in the fold, it seems likely that the Raptors will also lock up free agent point guard Kyle Lowry. Ibaka and Lowry share an agent in ASM’s Andy Miller, and while the duo isn’t necessarily viewed as a package deal this summer, it makes sense for Toronto to retain both, since the team won’t have the cap flexibility to sign a comparable replacement for Lowry if he leaves. The fact that the Raptors are reportedly discussing a Cory Joseph trade with Indiana also bodes well for Lowry’s return.
[RELATED UPDATE: Raptors to re-sign Kyle Lowry]
It remains to be seen how Ibaka’s new deal with the Raptors will affect incumbent center Jonas Valanciunas. The majority of Toronto’s most effective lineups late in the 2016/17 season had Ibaka playing center, and he seems to be a better fit at the five than the four. Valanciunas would be a pricey backup at $15MM+, and if Lowry gets a big payday, the Raptors will go over the tax line, so the young center could be on the trading block again.
As Zach Lowe of ESPN.com observes (via Twitter), re-signing Lowry to a deal near the max and trading Joseph wouldn’t get the Raptors below the tax threshold. Toronto is looking to move contracts, according to Lowe, who notes that Valanciunas is the most interesting trade chip to watch, since the Raps would have to attach an asset or two to DeMarre Carroll to move his deal.
Photo courtesy of USA Today Sports Images.
Knicks Waive Marshall Plumlee
The Knicks have waived Marshall Plumlee, the team announced today (via Twitter). Plumlee will become an unrestricted free agent, assuming he clears waivers.
[RELATED: Knicks sign Tim Hardaway Jr. to offer sheet]
Plumlee, who turns 25 next Friday, signed with the Knicks last offseason as an undrafted free agent out of Duke. In his rookie season, he played sparingly for New York, averaging 1.9 PPG and 2.4 RPG in 21 contests (8.1 MPG). He had a larger role in 15 G League games for the Westchester Knicks, averaging 12.3 PPG and 9.1 RPG.
Plumlee’s 2017/18 salary was partially guaranteed for $100K, but the rest of his minimum salary wasn’t due to become fully guaranteed until October, according to Basketball Insiders. As such, the Knicks will be off the hook for the remaining $1,212,611.
Jazz, Celtics Discuss Hayward Sign-And-Trade
JULY 7, 8:29am: As of Thursday night, sign-and-trade talks between the Celtics and Jazz had been “dormant” for most of the day, per Adrian Wojnarowski of ESPN (Twitter link). Boston continues to explore other trade options involving Crowder, Smart, and/or Bradley.
JULY 6, 3:28pm: The Celtics and Jazz appear to be getting closer to a sign-and-trade agreement that would involve Crowder, says Mark Murphy of The Boston Herald. According to Murphy, any deal is expected to be more than just Hayward for Crowder, since the Celtics would want something else in return, but details on assets aren’t currently known.
JULY 5, 11:14pm: Hayward and his agent, Mark Bartelstein, will help facilitate a sign-and-trade, according to Jones. When asked about the possibility of making the swap, GM Dennis Lindsey said that the team “would never comment on any trade speculation.”
8:31pm: The Celtics and Jazz have engaged in discussions on a trade that involves sending Hayward to Boston via sign-and-trade in exchange for Crowder, Adrian Wojnarowski of ESPN.com tweets.
7:39pm: The Jazz are open to working out a sign-and-trade agreement with the Celtics which would send Gordon Hayward to Boston, according to Tony Jones of the Salt Lake Tribune. Jones adds that Utah is only willing to accept a deal as long as Hayward signs off on it.
The small forward agreed to a max deal with the Celtics on Tuesday, though the team currently does not have the cap space to make that lucrative of an offer. Boston is looking to deal either Jae Crowder, Marcus Smart or Avery Bradley in order to make room for Hayward.
The Celtics most likely could garner significant value in a trade for any of the aforementioned players. While it’s possible that the team sends one of the three to Utah in a sign-and-trade for Hayward, such a move would be peculiar since it could likely fetch more in a trade with another club. Jones adds via Twitter that Boston may agree to such a move if Hayward told them it was a condition for him to sign with the club.
And-Ones: Clark, Shved, Bogdanovic
Add Warriors guard Ian Clark to the list of wing players who interest the Timberwolves, tweets Darren Wolfson of 5 Eyewitness News. C.J. Miles remains their prime target, but Minnesota doesn’t have enough cap room left to make a competitive offer. The Wolves have discussed a sign-and-trade that would send center Cole Aldrich and Oklahoma City’s 2018 first-rounder to Indiana in exchange for Miles, according to an ESPN report.
Here’s more from around the league:
- Alexey Shved may void the final year of his contract with Khimki Moscow in order to return to the NBA, a source tells international journalist David Pick (Twitter link). Shved last played in the NBA for the Knicks during the 2014/15 campaign.
- The Kings are covering all of Bogdan Bogdanovic‘s $850K NBA buyout with Fenerbahce, a source tells Pick (Twitter link). Sacramento signed the swingman to a three-year deal worth $27MM, which is the richest contract for a rookie in league history.
- Phil Ricci will join the Kings’ coaching staff as an assistant player development coach, James Ham of NBC Sports tweets. Ricci played professionally abroad for several seasons before coaching at the high school level.
- Grizzlies GM Chris Wallace has penned a thank you letter to Zach Randolph for his contributions over the past eight years. The note, which is posted on the team’s website, credits Randolph for helping to establish Memphis’ “grit and grind” identity. Randolph agreed to a two-year, $24MM deal with the Kings on Tuesday. The Grizzlies also announced today that Randolph’s number will be retired.
Arthur Hill contributed to this post
Knicks Sign Tim Hardaway To Offer Sheet
Tim Hardaway Jr. has signed an offer sheet from the Knicks, Shams Charania of The Vertical reports (Twitter link). Adrian Wojnarowski of ESPN.com tweets that the deal is for $71MM over four years.
The deal contains a player option on the final year of the deal, Jeff Zillgitt of USA Today adds (Twitter link). ESPN’s Ian Begley tweets that the contract contains a 15% trade kicker. The Hawks will have two days to make a decision on whether or not to match all the terms of the deal.
New York currently doesn’t have the cap space to make this lucrative of an offer. However, the organization has an easy path to opening up cap space in that it can simply renounce the rights to Derrick Rose, as ESPN’s Bobby Marks notes (Twitter link). Rose has a cap hold of approximately $29.7MM.
Hardaway Jr. was drafted by New York with the No. 24 pick in the 2013 draft. The Knicks traded him to the Hawks in a 2015 draft night trade that netted them Jerian Grant. Grant was traded to the Bulls during the following offseason as part of a package that brought Rose to the Big Apple.
Tim Hardaway Sr. tells Marc Berman of the New York Post (Twitter link) that his son has no “bad blood” with the organization. The shooting guard knows that the executive who traded him is no longer with the organization.
Kevin Durant Re-Signs With Warriors
JULY 6: Durant has officially re-signed with the Warriors, per RealGM’s transactions log.
JULY 3: Kevin Durant has agreed to a two-year, $53MM contact with the Warriors, Chris Haynes of ESPN.com tweets. The second year will be a player option, Haynes adds in another tweet. Durant’s salary for next season will be $25MM, Sam Amick of USA Today tweets.
Durant’s willingness to take far less than a 20% raise aided the Warriors’ efforts to retain their free agents, Marcus Thompson of the San Jose Mercury News reports.
Durant, who opted out of his contract with the full intention of re-signing with Golden State, was eligible to receive a maximum starting salary of $34.65MM. Durant, who made $26.54MM last season, decided to take significantly less than the expected 20% raise that would have secured him a $31.8MM salary for next season.
That is a major reason why the Warriors successfully negotiated new contracts with free agents Andre Iguodala and Shaun Livingston. Iguodala, who was sought after by numerous clubs, agreed to a three-year, $48MM deal while Livingston agreed to stay put for three years and $24MM. In essence, as Thompson points out, Durant is gifting part of his salary for next season to his teammates.
Durant’s discount will also help ownership save some money on its luxury tax bill, depending upon how far over the tax line the franchise goes. Durant’s first-year salary will save the franchise approximately $20MM, according to ESPN’s Bobby Marks, who projects Golden State will now pay $32.4MM instead of $52.4MM in luxury taxes.
Photo courtesy of USA Today Sports Images.
David West Re-Signs With Warriors, Will Retire In 2018
JULY 6: The Warriors have officially re-signed West, according to RealGM’s transactions log.
JULY 1: Veteran big man David West has agreed to return to the Warriors on a one-year contract, according to David Aldridge of TNT (via Twitter). Aldridge reports that the 2017/18 season will be West’s last year in the NBA.
The details of West’s deal aren’t yet known, but a minimum salary contract seems likely. West’s minimum salary for 2017/18 is $2,328,652 but the Warriors would only need to pay $1,471,382, as outlined in Hoops Rumors’ minimum salaries chart for next season.
West, 38, sought an NBA championship the last two seasons; he was unsuccessful in his lone season with the Spurs but finally captured the once elusive gold as a member of this season’s Warriors team. In 68 games off Golden State’s bench, West averaged 4.6 PPG and 3.0 RPG while playing just under 13 minutes per game.
Once a perennial 20 PPG threat with the Hornets and a solid contributor with the Pacers, West has embraced his role as a veteran leader and it paid dividends last season. He will give it one more try for another ring next season before calling it a career after what would be 15 NBA seasons.
Heat, Mavs Nearing Josh McRoberts Trade
7:54pm: The Mavericks will use a trade exception to absorb McRoberts’ salary, tweets Eddie Sefko of The Dallas Morning News. Dallas has a $6.6MM+ TPE that would fit McRoberts’ $6MM+ salary. The use of that exception signals that the Mavs intend to function as an over-the-cap team for now.
Meanwhile, Charania’s full report on the proposed deal also notes that the Mavs will receive cash from the Heat.
7:12pm: The Heat are working to trade Josh McRoberts to the Mavericks as they look to clear salary, Adrian Wojnarowski of ESPN.com tweets. Shams Charania of The Vertical reports (Twitter links) that Dallas will send A.J. Hammons to Miami in exchange for the power forward.
The Mavericks will also receive a future second-round pick from Miami, Charania adds. The Heat have already traded their second-round picks in each of the next four seasons, meaning the earliest pick Miami could offer would be the 2022 selection.
By removing McRoberts’ salary, which is approximately $6.02MM for the 2017/18 campaign, the Heat should be able to fit in the already agreed upon deals for Dion Waiters and Kelly Olynyk as well as a new contract for James Johnson, something that the team is still working on. Moving the Duke product should also allow the team to keep Wayne Ellington on the roster.
The Heat also have interest in bringing back Luke Babbitt, and figure to keep his cap hold on their books so that they can retain his Bird rights.
Spurs Sign Rudy Gay
7:49pm: The Spurs have officially signed Gay, the team announced in a press release.
7:15pm: The Spurs have reached an agreement with free agent forward Rudy Gay, reports Adrian Wojnarowski of ESPN (via Twitter). According to Wojnarowski, Gay’s new deal with San Antonio will be a two-year contract worth $17MM+ and will feature a second-year player option (Twitter link).
Since striking a deal to bring back point guard Patty Mills shortly after the new league year got underway, the Spurs have been fairly quiet this week as they waited out the first couple waves of free agency. However, Wojnarowski reports (via Twitter) that the team “worked hard” to close a deal with Gay over the last 72 hours.
Gay, who will turn 31 in August, averaged 18.7 PPG and 6.3 RPG in 30 games for the Kings this past season before going down with an Achilles injury. Despite the injury, the veteran forward elected to decline a player option for 2017/18 that would have paid him approximately $14.26MM.
Gay will earn less than that for the Spurs this season, as San Antonio will use its mid-level exception to complete the signing. The mid-level for a non-taxpaying team like the Spurs is worth $8.406MM in 2017/18, and Gay’s two-year total will be $17.232MM. Although he’ll take a pay cut, the UConn alum seemed frustrated with the organization in Sacramento, and is likely thrilled to be joining a championship contender in San Antonio.
Despite committing to Gay, the Spurs retain the flexibility to match an offer sheet for Jonathon Simmons, who is still on the restricted free agent market.
As for Gay’s other suitors, the Jazz were said to have interest, as were the Heat and Thunder. However, Utah has been working to land Jae Crowder from the Celtics, while Oklahoma City used its mid-level exception on Patrick Patterson and Miami used its remaining cap room on Kelly Olynyk.
Photo courtesy of USA Today Sports Images.
Mavericks Re-Sign Dirk Nowitzki
7:42pm: The Mavericks have officially re-signed Nowitzki, the team announced today in a press release.
1:15pm: The Mavericks are finalizing a two-year, $10MM deal with Dirk Nowitzki, writes Tim MacMahon of ESPN.com. The second season will be a team option, so Nowitzki could be a free agent again next summer.
That marks a serious reduction for Nowitzki, who could have made $25MM next season if the Mavericks hadn’t declined his option, but owner Mark Cuban seems likely to make up for it at some point. Nowitzki has been with the franchise for 19 seasons and has shown a willingness to be flexible with his contract to help the team create cap space.
Dallas has $45MM in combined cap holds for Nowitzki and Nerlens Noel, so this new deal should give the team some flexibility.
Nowitzki was slowed by an early-season Achilles injury this year, but returned to average 14.2 points and 6.5 rebounds in 54 games. He turned 39 last month, but hasn’t given any indication that retirement is near.
Photo courtesy of USA Today Sports Images.