Rockets Sign James Harden To Designated Veteran Extension
James Harden and the Rockets have finalized a contract extension that will keep him under contract through the 2022/23 season, the team announced today in a press release. Brian Windhorst and Adrian Wojnarowski of ESPN (link via Woj’s Twitter) first reported that Harden and the Rockets were making progress toward a new deal that will be the biggest in NBA history.
The new contract will begin in 2019/20, replacing Harden’s player option, and will add four years to the guaranteed two years on his current deal.
“Houston is home for me,” Harden said in a statement. “Mr. [Leslie] Alexander has shown he is fully committed to winning and my teammates and I are going to keep putting in the work to get better and compete for the title.”
Harden just signed an extension with the Rockets last summer, and typically wouldn’t be permitted to sign another new deal so soon. However, he and Russell Westbrook are eligible for extensions this summer, having been grandfathered in under the Designated Veteran Extension rules in the new CBA. The DVE allows players to sign for super-max deals worth 35% of the cap when they are named to the league’s All-NBA team and/or meet other criteria.
The exact terms of Harden’s extension will depend on where the NBA’s salary cap lands in 2019/20, but based on current projections, it would be worth more than $169MM over the four new years, running through 2022/23. Combined with his next two seasons, he’d be on track to earn approximately $228MM over the next six years.
Harden, who turns 28 next month, is coming off an MVP-caliber season in which he set new career highs in PPG (29.1), APG (11.2), and RPG (8.1). He’ll join forces in 2017/18 with fellow All-Star Chris Paul, who was acquired by Houston last month in a blockbuster trade with the Clippers.
Westbrook (Thunder) and John Wall (Wizards) are the other stars expected to receive Designated Veteran Extension offers this offseason, if they haven’t already. Stephen Curry (Warriors) agreed to the first of those deals last weekend.
Photo courtesy of USA Today Sports Images. Luke Adams contributed to this post.
Knicks Expected To Renew Carmelo Anthony Talks
After signing Tim Hardaway Jr. to a lucrative new deal, the Knicks are expected to renew their willingness to collaborate with the Rockets on trade scenarios to unload Carmelo Anthony, writes Adrian Wojnarowski of ESPN.
The Rockets have been persistent in their pursuit of Anthony, who remains willing to waive his no-trade clause to join Chris Paul and James Harden in Clutch City, per Wojnarowski. ESPN’s report, citing league sources, notes that the Knicks “do not imagine a scenario where Hardaway Jr. is sharing the floor with Anthony to start the season.” The Knicks now have $97.7MM in committed salary for the 2017/18 season with 10 guaranteed contracts, per Bobby Marks of ESPN, so moving Anthony would be one path to regaining a little financial flexibility.
Sam Amico of Amico Hoops provides further context as to what factors figure to be holding up an Anthony trade between the Knicks and either the Rockets or Cavaliers. Since Anthony possesses a no-trade clause, the Knicks’ options may be limited to these two teams.
Amico writes that the Knicks do not particularly want to take back Rockets forward Ryan Anderson and the Cavs aren’t eager to part with forward Kevin Love in a deal for Carmelo. The piece also states that Cleveland has floated Turkish draft-and-stash prospect Cedi Osman to entice New York, but Osman would come attached to multiple unappealing contracts. Amico suggests that the Cavs are content to play the waiting game in hopes that the Knicks cannot reach a deal with the Rockets and resort to buying Melo out.
Hawks Don’t Match Knicks’ Hardaway Offer Sheet
2:08pm: Tim Hardaway Jr. is now officially a Knick, as Hardaway’s agent, Mark Bartelstein, says that Atlanta has officially not matched, per Marc Berman of The New York Post (link via Twitter).
1:45pm: The Hawks have informed the Knicks that they will not match New York’s offer sheet on Tim Hardaway Jr., reports Shams Charania of The Vertical (link via Twitter).
11:27am: The Hawks don’t intend to match the Knicks’ four-year, $71MM offer sheet for Tim Hardaway Jr., reports Adrian Wojnarowski of ESPN. As Wojnarowski notes, the formal deadline for Atlanta to make its decision is still hours away, but Hardaway will ultimately be a Knick — again.
[RELATED: Knicks sign Tim Hardaway Jr. to offer sheet]
Hardaway, 25, enjoyed the best season of his NBA career in 2016/17, averaging 14.5 PPG, 2.8 RPG, and 2.3 APG in 79 games (30 starts) for the Hawks. He also posted a career-best FG% (.455) and had a .357 3PT%, and was even better after the All-Star break, with 17.5 PPG in 25 contests.
While Hardaway’s production was solid and he still has room to improve, the Knicks’ $71MM offer – which came at a time when most teams didn’t have much cap room available – was a surprise. The Hawks were reportedly willing to do a deal in the four-year, $48MM range for Hardaway, but decided not to match a Knicks offer that would hamper their cap flexibility more significantly. Atlanta will have room left over to pursue another RFA or accommodate another salary dump.
In addition to averaging nearly $18MM annually, the Knicks’ deal with Hardaway includes a fourth-year player option and a 15% trade bonus, according to previous reports. The agreement also calls for the shooting guard to receive 50% of his annual salary by October 1 each year.
With Hardaway in the mix, the Knicks will have little – if any – cap room available to spend on other free agents, though the club will still have its $4.3MM room exception. New York also had to renounce its rights to Derrick Rose, among other free agents, in order to clear the space necessary for Hardaway. That all but rules out the possibility of a reunion between Rose and the Knicks, since the team no longer holds his Bird rights.
Hardaway was originally 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.
As Marc Berman of the New York Post wrote earlier today, the Knicks’ brain trust views Hardaway as part of a long-term ‘core four’ for the franchise, alongside Kristaps Porzingis, Willy Hernangomez, and Frank Ntilikina.
Photo courtesy of USA Today Sports Images.
C.J. Miles On Nets’ Radar
Veteran swingman C.J. Miles is on the Nets’ radar, according to Darren Wolfson of 5 Eyewitness News (Twitter link). For now, the Nets remain in a holding pattern while they wait for the Wizards to match the offer sheet they gave to Otto Porter.
The Porter situation is somewhat tricky, as the Wizards plan to match, but they may do so only after tying up Brooklyn’s cap space for as long as possible. This means that Porter’s offer sheet could stay on the Nets’ salary cap through July 12 at the latest. Since Porter’s offer sheet is substantial at $106.5MM over four years, the Nets cannot make any significant free agent offers until the Wizards match. As such, Miles would have to be willing to wait a little longer.
After a flurry of free agent signings around the NBA, Miles is suddenly one of the top players available. The 30-year-old free agent averaged 10.7 points per his 76 games with the Pacers last season, starting 29 of them. Miles boasted a strong slash line of .434/.413/.903, making him an appealing target for teams in need of shooting help.
Another free agent the Nets will wait to have on is Kentavious Caldwell-Pope, whose rights the Pistons renounced on Friday. KCP is very likely the top unrestricted free agent available and the Nets are in the market for a wing.
Wizards Sign Mike Scott
JULY 8, 1:25pm: Mike Scott has officially signed a 1-year, $1.7MM deal with the Wizards, tweets Candace Buckner of the Washington Post.
JULY 4, 8:51am: Free agent forward Mike Scott has reached a veterans minimum agreement with the Wizards, tweets Adrian Wojnarowski of ESPN.com.
The five-year veteran is coming off an injury-plagued season that limited him to just 18 games. He missed the start of the year after having surgery on his left knee and didn’t take the court until mid-December. He put up career-worst numbers with 2.5 points and 1.5 rebounds in limited playing time and was traded to Phoenix at the February deadline. The Suns waived him the following day.
Scott, who will turn 29 this month, is the latest addition to the Wizards’ bench. They reached a deal with Jodie Meeks on Sunday, and Candace Buckner of The Washington Post speculates that the 15-man roster will be more or less set if Otto Porter re-signs.
The agreement with Scott puts the Wizards right on the edge of the cap, with $98.8MM in guaranteed contracts, Bobby Marks posts on ESPN Now. A max deal with Porter would move Washington $7.2MM over the tax line, creating a penalty of $11.4MM.
Hoops Rumors’ 2017 NBA Free Agent Tracker
With the July moratorium over and news of contract agreements still coming in, Hoops Rumors is here to help you keep track of which players are heading to which teams this July. To that end, we present our Free Agent Tracker, a feature we’ve had each year since our inception in 2012. Using our tracker, you can quickly look up deals, sorting by team, years, salary, and a handful of other variables.
A few notes on the tracker:
- Much of the information you’ll find in the tracker will reflect reported agreements, rather than finalized deals. As signings become official, we’ll continue to update and modify the data.
- Similarly, contract years and dollars will be based on what’s been reported to date, so in many cases those amounts will be approximations rather than official figures. Listed salaries aren’t necessarily fully guaranteed either.
- A restricted free agent who agrees to or signs an offer sheet will be included in the tracker, but the team won’t be specified until his original club matches or passes on the offer sheet, in order to avoid confusion.
- Two-way contracts and draft pick signings aren’t included in the tracker.
- Click on a player’s name for our full story on his deal.
- If you’re viewing the tracker on mobile, be sure to turn your phone sideways to see more details.
Our 2017 Free Agent Tracker can be found anytime on the right sidebar under “Hoops Rumors Features,” and it’s also under the “Tools” menu atop the site. It will be updated throughout the offseason, so be sure to check back for the latest info. If you have any corrections, please let us know right here.
Our lists of free agents by position/type and by team break down the players who have yet to reach contract agreements.
Community Shootaround: Kentavious Caldwell-Pope
After the Pistons‘ acquisition of Avery Bradley from the Celtics, the team promptly renounced restricted free agent Kentavious Caldwell-Pope. The move puts Caldwell-Pope on the open market, free to sign with any NBA team and there has been no shortage of interest in the 24-year-old guard.
The Lakers are reportedly interested in Caldwell-Pope on a one-year commitment whereas the Nets have remained a suitor — and were expected to issue him an offer sheet before he hit unrestricted free agency. The Nets’ cap space is currently tied up after issuing a four-year, $101MM max offer sheet to Otto Porter. While the Wizards are believed to match the offer sheet, the Nets can continue their pursuit of KCP through discussion with his camp about a potential offer if and when Brooklyn retains cap space.
Los Angeles has about $17MM in cap space, which the team can use on a potential one-year deal. The Nets are more interested in long term pacts, especially after acquiring former second overall pick D’Angelo Russell from the Lakers. It’s ironic that the Lakers could have assembled a Caldwell-Pope/Russell back court and now the Nets are in a better position to do so.
In his fourth NBA season in 2016/17, Caldwell-Pope averaged 13.8 PPG, 3.3 RPG, 2.5 APG, and shot nearly 40% from the floor in 76 contests. His numbers have not seen a drastic improvement but – given his age and ability – his potential may outweigh his production as teams consider his worth.
One minor detail to remember for any team interested in Caldwell-Pope’s services is that he’s suspended for the first two games of the 2017/18 season. Therefore, he will be eligible for 80 out of 82 games but that will likely not impact any teams pursuit.
With all of this in mind, which destination is most ideal for Caldwell-Pope? Does a one-year investment or a long term teal make more sense for the 24-year-old? Which team would benefit most from plugging him into their starting lineup?
Eastern Notes: Hardaway Jr., Celtics, Morris, Hawks
The Knicks‘ four-year, $71MM offer sheet to restricted free agent Tim Hardaway Jr. took many by surprise given that New York is prepared to make a lofty investment in a player the team recently traded. Yet, if the Hawks do not match the Knicks’ offer sheet, the team views Hardaway as part of a ‘core four’ alongside Kristaps Porzingis, Willy Hernangomez, and Frank Ntilikina, Marc Berman of the New York Post writes.
Hardaway, just 25 years old, is coming off a solid year in Atlanta, as he averaged 14.5 PPG and 2.8 RPG while shooting .455% from the floor in 79 games. Hardaway was originally drafted by the Knicks in 2013 but was dealt for Jerian Grant after two seasons in the Big Apple. If he does return, Hardaway will fit the Knicks’ current mold of a young, athletic player — something former team president Phil Jackson didn’t necessarily prioritize during his tenure.
As for Ntilikina, the soon-to-be 19-year-old will look to be a sponge in his first few seasons, learning from veterans and experienced youngsters. Bringing back a productive former member of the team would be a good first step.
Below are additional notes around the Easter Conference:
- The Celtics have made major upgrades this offseason, none bigger than agreeing to a four-year deal with Gordon Hayward. However, general manager Danny Ainge is still not satisfied with the roster and will pursue upgrades, Steve Bulpett of the Boston Herald writes. The team created space for Hayward by rading Avery Bradley to the Pistons for Marcus Morris on Friday, and can now afford to be patient and consider the market before making any other deals.
- Speaking of Morris, he will be a missed presence in the Pistons locker room, Vince Ellis of the Detroit Free Press writes. After coming to Detroit from the Suns in 2015, Ellis writes that Morris’ attitude and intensity resonated with his teammates, fans, and the city of Detroit.
- The Hawks have announced the hiring of veteran NBA coach Chris Jent. Jent, who played professionally for 11 seasons, has previously served on coaching staffs for the Sixers, Magic, Cavaliers, and Kings.
Clippers, Knicks, Others Renounce UFAs
Several NBA teams have renounced their unrestricted free agents, eliminating any form of Bird rights the team had on those players, per RealGM’s transactions log. Here’s a breakdown of which teams renounced their UFAs and what those moves might mean:
Los Angeles Clippers
- Players renounced: Alan Anderson, Jeff Ayres, Brandon Bass, Glen Davis, J.J. Redick, Hedo Turkoglu, and Ekpe Udoh.
- The thinking: Redick has a new deal in place elsewhere and the other players probably aren’t candidates to return. With a hard cap in place after signing-and-trading for Danilo Gallinari, the Clips will have to keep team salary below $125.266MM for the rest of the 2017/18 league year.
New York Knicks
- Players renounced: Ron Baker, Justin Holiday, Derrick Rose, and Sasha Vujacic.
- The thinking: The Knicks needed to clear cap room to fit in Tim Hardaway Jr.‘s offer sheet, so these moves aren’t really a surprise. The one interesting name is Baker — the club also withdrew its qualifying offer to him. He has reportedly agreed to a deal with New York already, but if the team doesn’t need his QO or FA rights to complete that signing, it may just end up being a two-year, minimum salary contract that could be finalized once the Knicks use up their cap room on other players.
Atlanta Hawks
- Players renounced: Jose Calderon, Kris Humphries, Ersan Ilyasova, Paul Millsap, and Thabo Sefolosha.
- The thinking: The Hawks kept cap holds for Hardaway and Mike Muscala on their books, but it appears none of the players noted above are in their plans going forward. Atlanta needed to clear its cap room to take on Jamal Crawford and Diamond Stone in a trade with the Clippers, so the Hawks also had to renounce their five trade exceptions as well.
Detroit Pistons
- Players renounced: Aron Baynes and Kentavious Caldwell-Pope.
- The thinking: With a $125.266MM hard cap now in place, the Pistons will have to keep team salary below that figure for the rest of the league year.
Brooklyn Nets
- Players renounced: K.J. McDaniels
- The thinking: McDaniels’ cap hold likely had to be eliminated from the books in order to fit Otto Porter‘s offer sheet.
Phoenix Suns
- Players renounced: Ronnie Price
- The thinking: I don’t see any obvious reason that the Suns needed to renounce Price’s minimum salary cap hold, but there’s no reason to keep it on the books either — if the team wants to eventually re-sign Price, it can use cap room or the minimum salary exception to do so.
Contract Details: Tucker, Holiday, Lowry, Collison
With more and more of the early free agent contract agreements being finalized, official numbers on those deals are starting to trickle in, and Eric Pincus, who operates Basketball Insiders’ salary database, is passing along the specifics on many of them. In instances where the official numbers are essentially identical to what was reported initially, we won’t pass along that info, but we want to provide updates in cases where new details surface.
Here are some new contract details on this week’s deals, with all links via Pincus’ Twitter feed:
Western Conference:
- The Rockets split their mid-level exception between two players, with P.J. Tucker getting about $7.59MM and Zhou Qi getting the remaining $816K or so. Tucker’s contract is partially guaranteed in its fourth year ($2.6MM of $8MM guaranteed), while Zhou’s four-year pact isn’t guaranteed beyond year one (Twitter links).
- As was expected based on initial reports, Jrue Holiday‘s total earning potential over five years with the Pelicans ranges from $126-150MM based on bonuses (Twitter link).
- Dirk Nowitzki‘s two-year pact with the Mavericks will pay him an even $5MM in each of the next two seasons, with a second-year team option (Twitter link).
- The first season of Wayne Selden‘s two-year minimum salary deal with the Grizzlies is fully guaranteed (Twitter link).
- The Suns‘ new four-year contract for second-rounder Davon Reed is fully guaranteed for the first year, half guaranteed in the second year, and non-guaranteed in years three and four (Twitter link).
Eastern Conference:
- Although Kyle Lowry‘s three-year contract with the Raptors can be worth up to $100MM, the base value is $93MM, with the remaining $7MM coming in the form of unlikely bonuses. Unlikely bonuses don’t count against the cap at this point (Twitter link).
- The second year of Darren Collison‘s contract with the Pacers is only partially guaranteed. Currently, $2MM of his $10MM second-year salary is guaranteed (Twitter link).
- The Hornets signed Michael Carter-Williams using a portion of their taxpayer mid-level exception. Since he’s receiving an even $2.7MM, the team doesn’t have a hard cap at this point (Twitter link).
- Eric Moreland‘s three-year deal with the Pistons includes a $500K guarantee for year one. The deal starts at $1.7MM, which means it was finalized using the amount of the mid-level exception that was left over after Langston Galloway‘s signing (Twitter link).