Kings Sign Richaun Holmes To Two-Year Deal
JULY 16: The Kings have officially signed Holmes, the club announced today in a press release.
JULY 1: The Kings and big man Richaun Holmes have reached an agreement on a two-year deal worth $10MM, reports Shams Charania of The Athletic (Twitter link).
Based on the reported terms of Holmes’ new deal and the other agreements the Kings have finalized during free agency, it appears likely that he’ll receive the team’s $4.8MM room exception.
Holmes, 25, spent his first three NBA seasons in Philadelphia before being sent from the Sixers to Suns a year ago. He averaged 8.2 PPG, 4.7 RPG, and 1.1 BPG in 70 games (16.9 MPG) as a regular part of Phoenix’s frontcourt rotation.
The Kings have now reached agreements with four outside veteran free agents in addition to bringing back their own free agent forward Harrison Barnes on a four-year deal.
As our free agent tracker shows, Cory Joseph, Trevor Ariza, and Dewayne Dedmon will also be joining the club once they can officially sign contracts this weekend.
Photo courtesy of USA Today Sports Images.
Suns Re-Sign Kelly Oubre To Two-Year Deal
JULY 16: The Suns have officially re-signed Oubre, the team announced today in a press release.
JULY 11: The Suns have reached an agreement with restricted free agent forward Kelly Oubre, agent Nima Namakian of BDA Sports tells ESPN’s Adrian Wojnarowski (Twitter link).
Oubre, who had been the last unsigned RFA on the market, will sign a two-year, $30MM contract, per Wojnarowski. According to Michael Scotto of The Athletic (Twitter link), it’s a fully guaranteed deal with no options. It also has a descending structure, with a $15.7MM first-year salary, tweets John Gambadoro of Arizona Sports 98.7.
Oubre, 23, was selected 15th overall in the 2015 draft and spent the first three and a half years of his NBA career in Washington. The Wizards, who didn’t appear committed to paying him in free agency this summer, attempted to trade Oubre to Memphis in a three-team trade for Trevor Ariza last December, then pivoted when that deal fell through and sent him directly to Phoenix in a package for Ariza a few days later.
In 40 games (12 starts) with the Suns, Oubre posted some of the best numbers of his career, averaging 16.9 PPG, 4.9 RPG, and 1.4 SPG with a .453 FG% in 29.5 minutes per contest. All of those marks would have been career highs.
As they completed their offseason roster moves, the Suns made it a priority to keep Oubre’s cap hold on their books in order to retain his Bird Rights and go over the cap to re-sign him, sending Josh Jackson, De’Anthony Melton, and a pair of second-round picks to Memphis in a trade to shed salary and avoid losing the former Wizard.
While Oubre may have been hoping for a longer-term commitment, his new two-year contract will give the young forward some financial security and allow him to return to the open market as an unrestricted free agent when he’s just 25 years old, Wojnarowski observes (via Twitter).
Photo courtesy of USA Today Sports Images.
Knicks Notes: Morris, Bullock, Vonleh
After officially announcing their deals with Marcus Morris and Reggie Bullock today, the Knicks appear to be just about done with free agency. Damyean Dotson‘s salary for 2019/20 became fully guaranteed because he remained on the roster through Monday, so New York is now carrying 15 players on guaranteed deals. The team has also exhausted its cap room and appears to have used a portion of the room exception to sign Bullock.
Here are a few Knicks-related notes on Morris, Bullock, and more:
- Morris’ agent Rich Paul wasn’t directly involved in his client breaking his verbal agreement with the Spurs, and preferred that Morris stick to that agreement, a source tells Marc Berman of The New York Post. According to Berman, Morris and the Knicks worked together to strike a deal. As for Morris and Paul, they’re reportedly parting ways after the forward’s tumultuous free agency.
- A source tells Berman that Bullock is out “indefinitely” and isn’t expected to be ready for the start of the regular season. Ian Begley of SNY.tv reports that Bullock will likely miss at least a month of the season. The details on the veteran guard’s health issue remain a mystery, but that issue helped scuttle the initial two-year deal between the two sides — that $21MM agreement would have been worth more than double the value of their new contract.
- The Knicks’ goal is to win – not tank – in 2019/20, according to Berman, who speculates that Morris and Julius Randle may end up being the team’s starting forward tandem, with 2018 lottery pick Kevin Knox moving to the bench.
- After leaving the Knicks for the Timberwolves in free agency, Noah Vonleh told Mike Vorkunov of The Athletic that he had a “great” time in New York last season. “It was a great opportunity,” Vonleh said. “They gave me some playing time, let me be the 4-man, just grow as a player and change the narrative that was on me that was in the league and gave myself another a chance to give myself a new life in the league.”
Hoops Rumors Glossary: Exhibit 10 Contract
After the NBA’s biggest-name free agents come off the board, many teams shift their focus to filling out their training-camp rosters. Teams can only carry 15 players on NBA contracts (plus two on two-way deals) during the regular season, but their maximum roster size increases to 20 players in the offseason, allowing clubs to bring a few extra players to camp to audition for a place on the regular-season roster or a spot on the team’s G League affiliate.
Many of those players will sign a contract with an Exhibit 10 clause. Introduced in the NBA’s most recent Collective Bargaining Agreement, Exhibit 10 contracts are one-year deals worth the minimum salary. They don’t come with any compensation protection, but can include an optional bonus ranging from $5K to $50K.
Let’s say an undrafted rookie signs an Exhibit 10 contract with the Knicks that includes a $50K bonus. He attends camp with the Knicks, but is waived before the regular season begins, with New York designating him an affiliate player in order to retain his G League rights. In that scenario, if the rookie elects to play in the G League for the Westchester Knicks and remains with the club for 60 days, he’d be entitled to his full $50K bonus.
The player wouldn’t receive that bonus if he opts to sign with a team overseas after being waived by the Knicks. Essentially, the Exhibit 10 bonus serves as an incentive for players to stick with their team’s G League affiliate — they must spend at least 60 days with the NBAGL club in order to get their bonus.
There’s another scenario in which that undrafted rookie who signs an Exhibit 10 deal with the Knicks would receive his $50K. Exhibit 10 contracts can be converted into two-way contracts, so if New York opted to do that before the season begins, the $50K bonus would turn into a salary guarantee for the player. As soon as his contract becomes a two-way deal, he’s entitled to that bonus, even if the Knicks waive him a week later.
Only teams with a G League affiliate can include an Exhibit 10 bonus in a contract. In 2019/20, the Pelicans will become the 28th NBA team with its own affiliate, leaving only the Trail Blazers and Nuggets on the outside looking in. Those clubs could technically sign players to Exhibit 10 deals, but wouldn’t be able to include bonus money.
The Heat have been one of the most active teams so far this offseason when it comes to signing Exhibit 10 contracts. Jeremiah Martin, Chris Silva, and Kyle Alexander have all received those deals, which benefit Miami in one important way — they don’t count against team salary during the offseason. That’s crucial for the hard-capped Heat, who are less than $1MM away from the tax apron and otherwise wouldn’t be able to add free agents to their roster without shedding salary elsewhere.
Here are a few more notes relating to Exhibit 10 contracts:
- A team can’t carry more than six Exhibit 10 contracts at a time.
- An Exhibit 10 contract can only be converted to a two-way deal before the regular season begins.
- An Exhibit 10 contract that gets converted to a two-way deal can later be converted into a standard NBA contract.
- An Exhibit 10 bonus earned by a player who ends up in the G League or on a two-way contract isn’t counted toward the NBA team’s total salary.
Note: This is a Hoops Rumors Glossary entry. Our glossary posts will explain specific rules relating to trades, free agency, or other aspects of the NBA’s Collective Bargaining Agreement. Larry Coon’s Salary Cap FAQ was used in the creation of this post.
An earlier version of this post was published in 2018.
Knicks Sign Reggie Bullock To Reworked Deal
11:35am: The Knicks have officially announced their new deal with Bullock.
9:43am: The Knicks and free agent shooting guard Reggie Bullock have finalized a new contract agreement after an earlier deal fell through, agent David Bauman tells Shams Charania of The Athletic (Twitter link). Bullock confirmed the news himself today, tweeting, “Done deal!”
Bullock and the Knicks initially agreed to a two-year, $21MM contract with a second-year team option near the start of free agency. However, they reworked that deal after “unanticipated health issues” arose, as Charania notes.
According to Ian Begley of SNY.tv (Twitter link), Bullock’s new two-year contract will have a starting salary worth less than the $4.77MM room exception. The new deal will also have a second-year option, tweets Marc Berman of The New York Post.
“[The] Knicks were fantastic through this process,” Bauman told Begley.
A first-round pick in the 2013 draft, Bullock began his career with the Clippers and then the Suns, but didn’t hit his stride until a stint with Detroit that began in 2015.
Bullock averaged 11.3 PPG and shot 44.5% on three-pointers for the Pistons in 2017/18. Last season, the veteran split his time between the Pistons and Lakers as a result of a deadline trade, recording 12.1 PPG with a .377 3PT% in 63 total games.
While we don’t know the details of Bullock’s health issues, he has battled plantar fasciitis in the past. As a result of the extra cap room generated when his original deal was nixed, the Knicks were able to bring in Marcus Morris on a one-year, $15MM contract.
Bullock was the last player on our list of 2019’s top 50 free agents who had yet to agree to a new contract.
Photo courtesy of USA Today Sports Images.
Latest On Chris Paul, Heat
The blockbuster trade between the Thunder and Rockets that will send Russell Westbrook to Houston and Chris Paul to Oklahoma City has yet to be technically finalized, but OKC’s head of basketball operations Sam Presti continues to explore potential destinations for Paul.
Although the Heat appear to be the most likely suitor for Paul, Barry Jackson of The Miami Herald continues to be skeptical of Miami’s level of interest in the veteran point guard. According to Jackson, the Heat are listening to the Thunder and won’t rule anything out, but they’re not actively pursuing CP3.
Appearing on SportsCenter on Monday, ESPN’s Brian Windhorst outlined some of the obstacles in the way of a deal between the Heat and Thunder, as Chris Grenham of NESN.com relays.
“When you talk about [Paul] potentially going to the Miami Heat, which is his preference, one thing I’ve been told in the talks; the fact that the Thunder hold the two of the Heat’s first-round picks in the future — unprotected 2021, protected 2023 — makes this a difficult conversation because the Heat want those picks back,” Windhorst said (video link). “The Thunder have expressed an interest in giving one of those picks back, but they would want another pick farther off into the future.
“So I do think that these two teams have a lot to talk about, but because of those picks, it’s something that could get complicated, and the Thunder have let it to be known they are in no hurry.”
In his analysis of the potential trade discussions between the two clubs, Jackson conveyed a similar sentiment, suggesting that the Heat would want their draft picks back from the Thunder and cautioning that he wouldn’t expect Presti to be on board with that. Jackson also speculated that the Heat might want Paul to agree to decline his 2021/22 player option to help the club maintain future cap flexibility — that would be a lot to ask of the nine-time All-Star, whose option will be worth $44.2MM.
As cap expert Albert Nahmad notes (via Twitter), the Thunder acquired two first-round picks by swapping Westbrook for Paul. If Oklahoma City were to surrender two first-rounders to move Paul, the club wouldn’t really be coming out ahead in terms of assets, and would have little to show for giving up its former MVP. Presumably, the Thunder will be prepared to hang onto Paul into the season if Miami (or another team) isn’t willing to meet their asking price.
While the Heat still look like the best potential fit for Paul, there are so many complicating factors involved – including both teams’ cap and tax concerns – that it’s hard to imagine Miami and Oklahoma City quickly bridging the gap and agreeing to terms. It will be interesting to see if the Thunder and Rockets finalize their part of the trade this week, or if they continue to hold off on making it official in case it can be turned into a three-team deal.
Knicks Sign Marcus Morris
JULY 16: Morris has officially signed with the Knicks, per NBA.com’s transactions log.
JULY 11: The Knicks have agreed to a one-year, $15MM deal with Marcus Morris, Shams Charania of The Athletic reports (Twitter link). Morris had previously come to an agreement with the Spurs but chose not to honor the verbal agreement.
San Antonio was planning on using its mid-level exception to sign Morris and turned its DeMarre Carroll acquisition into a sign-and-trade in order to accommodate Morris on a two-year deal worth approximately $19MM. The Spurs traded away Davis Bertans as part of the Carroll sign-and-trade.
“I had to make this decision based on the best situation for me and my family,” Morris said (via Charania). “This is no knock on the Spurs. I have respect for them.”
New York had the flexibility to add Morris after renegotiating its deal with Reggie Bullock. Bullock agreed to terms with the Knicks on a two-year, $21MM pact, but the franchise nixed that deal over health concerns. Ian Begley of SNY.tv tweets that New York plans to amend the agreement with Bullock.
Morris, who earned the No. 22 spot on our list of this offseason’s top 50 free agents, was the most notable name still on the board. The 29-year-old had a solid year in Boston as the Celtics’ primary starting forward in 2018/19, averaging 13.9 PPG, 6.1 RPG, and 1.5 APG with a .447/.375/.844 shooting line. He’ll join a Knicks frontcourt that also features newly-added veterans like Bobby Portis, Julius Randle, and Taj Gibson in addition to incumbent youngsters Mitchell Robinson and Kevin Knox.
The move to sign Morris exhausts New York’s cap room. The team has the room exception available to sign Bullock or another free agent.
Photo courtesy of USA Today Sports Images.
Northwest Notes: Nuggets, Grant, Thunder, Oni
A pair of Nuggets traded player exceptions expired on Monday, one year after the team sent Kenneth Faried and Darrell Arthur to Brooklyn in a salary dump. Denver created trade exceptions worth $13.76MM and $5.92MM in that swap, but ultimately didn’t end up finding a use for them.
While those Nuggets TPEs went unused, the team did take advantage of another trade exception earlier this month — Denver created an exception worth over $12MM last July when the team sent Wilson Chandler to Philadelphia, and subsequently used that exception last week to acquire Jerami Grant from Oklahoma City.
Adding Grant’s $9MM+ salary to their books moved the Nuggets’ team salary close to the luxury tax threshold, reducing the likelihood of the club using those other TPEs.
Here’s more from around the Northwest:
- Speaking of Jerami Grant, Kevin O’Connor of The Ringer thinks the Nuggets‘ acquisition of the former Thunder forward was one of the very best moves of the 2019 offseason. As O’Connor outlines, Grant is the sort of quality wing who can complement Nikola Jokic and Jamal Murray on offense while helping to cover for them on defense, which is exactly the sort of player Denver was missing last season.
- David Aldridge of The Athletic takes a look at all the first-round picks the Thunder have acquired since the offseason began, observing that OKC could be in the driver’s seat for virtually any trade candidate in the league if the team decides to flip some of those picks for another star at some point.
- The Jazz signed No. 58 overall pick Miye Oni to his first NBA contract on Monday, and Jeff Siegel of Early Bird Rights has the details, tweeting that Oni received a three-year, minimum-salary contract with the first year guaranteed. The second and third years on the deal, which was signed using Utah’s leftover cap room, are non-guaranteed, Siegel notes.
Western Notes: Smith, Cuban, Fertitta, Daniels, Clarke
The Lakers are unlikely to sign shooting guard J.R. Smith once he clears waivers, Adrian Wojnarowski of ESPN tweets. The Cavaliers cut Smith loose on Monday after failing to find a trade partner. The lack of interest shouldn’t come as a surprise, considering the Lakers have signed shooting guards Danny Green, Avery Bradley, Kentavious Caldwell-Pope and Troy Daniels in free agency.
We have more from the Western Conference:
- Mavericks owner Mark Cuban has been fined $50K by the league for leaking information from the Board of Governors meeting, ESPN’s Tim MacMahon reports. Cuban revealed the vote to allow coaches to challenge an official’s ruling next season.
- The league has also fined Rockets owner Tilman Fertitta $25K for making public comments about the Russell Westbrook–Chris Paul swap before it was officially completed, Marc Stein of the New York Times tweets.
- Troy Daniels chose the Lakers over the Warriors and Thunder, Dave McMenamin of ESPN tweets. Daniels was wooed by Anthony Davis during the decision-making process. Daniels signed a one-year, minimum salary contract.
- Grizzlies forward Brandon Clarke, the 21st player selected in the draft, has been named the Las Vegas Summer League MVP, David Cobb of the Memphis Commercial Appeal relays. Clarke averaged 14.7 PPG and 9.8 RPG in 22.0 MPG over six games.
Community Shootaround: Ben Simmons’ Contract
Ben Simmons has agreed to a max extension with the Sixers which will reportedly pay the point guard $170MM over five seasons, beginning with the 2020/21 campaign.
There’s no doubt that Simmons is one of game’s best passers. His creativity and court vision, along with his size, make him one of the most unique players in the league. He’s also one of the league’s best rebounding guards and puts steady pressure on defenses with his ability to get to the rim. His size, quickness and length also make him an effective and versatile defender.
For all of his gifts, Simmons is also one of the most limited offensive players you’ll ever see. It’s almost unfathomable the way the game is currently played that he’s never made a 3-pointer in his career. He has no mid-range game, either. Virtually all of his shot attempts come within 10 feet of the basket.
When he does shoot beyond 10 feet, he’s doing the opponent a favor. Last year, he made 25.7% of his shot attempts from 1o-15 feet and 10.7% from 16 feet and out, according to Basketball Reference. He’s also a poor free throw shooter — 60% last season.
Despite those obvious weaknesses, he still averaged 17.8 PPG in his second year. And he’s got plenty of time to expand his offensive game. Simmons turns 23 this week and will undoubtedly get better with age.
However, Simmons’ deficiencies are magnified in the postseason and that could hinder the Sixers’ championship aspirations in future years. He averaged just 13.9 PPG and 6.0 APG during Philadelphia’s playoff run last season, which won’t cut it for a max player.
Still, superior young talent is tough to find and the Sixers probably couldn’t risk offering Simmons less without alienating him.
That leads us to our question of the day: Did the Sixers make the right move by giving Ben Simmons a max extension?
Please take to the comments to weigh in on this topic. We look forward to your input.