FA Rumors: DeRozan, Kings, Hield, Warriors, Martin, Heat, Hezonja
Assuming DeMar DeRozan doesn’t sign with a cap-room team, it will almost certainly require a sign-and-trade to land him, per Chris Haynes of Bleacher Report (video link). As Haynes explains, DeRozan has no interest in settling for a mid-level offer.
“For the teams that might be calling or gauging interest in DeMar taking a full mid-level exception, which is around $13MM, I’m told that is not even being considered right now,” Haynes said on Tuesday.
The Bulls won’t bring back DeRozan, but they’re open to working with him on a sign-and-trade to help him get where he wants, Haynes confirms. Still, negotiating that sort of deal will be a challenge, given that some of the forward’s suitors (like Miami) aren’t in a great financial position to make a sign-and-trade. I’d also expect Chicago will be reluctant to take back much salary, since the team projects to be about $13MM below the luxury tax line, though that number is fluid and would move up or down if other moves are made.
Appearing on ESPN’s NBA Today on Tuesday (Twitter video link), Marc J. Spears of Andscape identified the Kings as one “dark horse” suitor to watch for DeRozan. Sacramento has reportedly made Harrison Barnes, Kevin Huerter, and draft capital available in trade talks (in general, not for DeRozan specifically) as the team looks to upgrade its roster around Domantas Sabonis and De’Aaron Fox. Previous reporting has indicated that the Bulls like Huerter.
Here are a few more free agency updates from around the NBA:
- Buddy Hield doesn’t have an agreement in place with the Warriors yet, but the two sides are “tracking toward” a deal, according to Jake Fischer of Yahoo Sports (Twitter links), who says that a sign-and-trade would likely see the Sixers receive second-round draft capital in return. If Golden State doesn’t send out additional salary, the club would have to absorb both Hield and Kyle Anderson into a trade exception created by sending Klay Thompson to Dallas, or complete all three of those moves as one multi-team mega-deal in order to maximize Thompson’s outgoing salary as a matching piece (John Hollinger of The Athletic briefly explored this more complex possibility on Tuesday night).
- While Caleb Martin‘s return to the Heat is still considered unlikely, it shouldn’t be entirely ruled out, according to Barry Jackson and Anthony Chiang, who suggest in a pair of stories for The Miami Herald that the team’s interest in re-signing Martin hasn’t waned as long as the price is right. Jackson and Chiang also say that Miami remains in the mix to sign Haywood Highsmith, though his return is “far from guaranteed.”
- The Heat had initial discussions with DeMar DeRozan on Tuesday and expect to follow up on Wednesday, but there have been no indications that the club will “move mountains” (ie. shed significant salary) in order to land him, Jackson tweets.
- Although Real Madrid has officially announced its new five-year contract with Mario Hezonja, the veteran forward has an NBA-opt out until July 20 with a modest buyout figure and has received interest from “numerous” NBA teams, according to Donatas Urbonas of BasketNews.com. The 29-year-old, who was the fifth overall pick in the 2015 draft, appeared in 330 NBA regular season games but has been out of the league since 2020.
Latest On DeMar DeRozan
There’s mutual interest between the Heat and free agent forward DeMar DeRozan, a pair of sources with knowledge of the situation tell Barry Jackson and Anthony Chiang of The Miami Herald.
DeRozan is one of the top players left on the marketplace, having come in at No. 6 in our list of top 50 free agents. He led the NBA in total minutes played in 2023/24, averaging 24.0 points, 5.3 assists, and 4.3 rebounds per game with a shooting line of .480/.333/.853.
Despite the mutual interest, there’s not a clear path for Miami to offer DeRozan the sort of contract he’s seeking. As Jackson and Chiang write, the Heat are currently a first-apron team, so the best they could do would be the $5.2MM taxpayer mid-level exception. A sign-and-trade deal isn’t an impossibility, but it would require them to shed salary, since a team that acquires a player via sign-and-trade becomes hard-capped at the first apron, so it could get complicated.
DeRozan isn’t expected to return to the Bulls, but Jackson and Chiang hear that “several” teams remain in play for the six-time All-Star. One of those clubs is the Lakers, as we previously relayed. ESPN’s Adrian Wojnarowski confirmed L.A.’s interest during a SportsCenter appearance on Tuesday (YouTube link), but reiterated that it won’t be easy for the Lakers and other over-the-cap suitors to negotiate a sign-and-trade deal.
“I think there’s interest in DeMar DeRozan, but the kind of contract that he might want just is not going to be available,” Wojnarowski said. “It’s not left out there in the marketplace. The Bulls are more than willing to work on a sign-and-trade agreement to get him the years and money that he might want, but with the new salary cap rules, those are much more difficult for teams to do.
“… In DeMar DeRozan’s case, and it may not be as appealing to him, but it may look like a one-year deal somewhere, let the market reset next year. Because if you do a sign-and-trade, it’s got to be at least three years and now you’re locked into a three-year deal at a number you may not like.”
DeRozan’s free agency this summer is somewhat reminiscent of his 2021 free agency. When he hit the market three years ago, teams like the Lakers and Clippers were viewed as suitors but didn’t have the financial means to make him a competitive offer. It briefly looked like he might accept a discount to return to his hometown, but he ultimately landed with the Bulls on a three-year, $82MM deal via sign-and-trade.
It seems less likely this time around that a suitor will emerge to make DeRozan a huge three-year offer. Still, it’s worth noting that settling for a one-year contract in the hopes of securing a larger payday next summer – as Woj suggests – would be risky move for a player who will turn 35 next month.
Heat Sign Second-Rounder Pelle Larsson
The Heat have officially signed second-round pick Pelle Larsson to his first NBA contract, the team announced today in a press release.
Larsson was selected with the 44th pick in this year’s draft. The Rockets technically made the selection on Miami’s behalf, then sent the rookie’s rights to the Heat in a three-team trade that also involved the Hawks.
Larsson played three years of college ball at Arizona after spending his freshman season at Utah. In 2023/24, the 6’5″ wing averaged 12.8 points, 4.1 rebounds, and 3.7 assists in 30.1 minutes per game across 36 starts for the Wildcats, with a strong .519/.426/.750 shooting line.
Terms of Larsson’s deal weren’t disclosed by the Heat, but Anthony Chiang of The Miami Herald (Twitter links) hears that the team used the second-round pick exception to give him a three-year contract that starts at the rookie minimum (approximately $1.16MM). That means he’ll occupy a spot on Miami’s 15-man roster and the club will hold an option on him for the 2026/27 season.
The deal will be fully guaranteed in 2024/25, with a significant partial guarantee in year two, tweets Michael Scotto of HoopsHype.
The Heat have been busy on the transaction wire in the last 24 hours. Besides finalizing Larsson’s contract, they also signed a trio of players to two-way deals and completed Kel’el Ware‘s rookie scale contract.
Free Agency Rumors: Theis, Magic, Heat, Raptors, Rockets
Veteran center Daniel Theis has received interest in free agency from several suitors, including the Grizzlies, Pelicans, and Bucks, reports Kelly Iko of The Athletic (Twitter link).
Theis won the 2023 FIBA World Cup with Germany last year, then joined the Clippers in the fall after negotiating a buyout with the Pacers. He served as the backup center in Los Angeles while Mason Plumlee missed time due to an injury and averaged 6.3 points, 4.1 rebounds, and 0.9 blocks in 17.1 minutes per game across 59 outings.
A second-apron team, Milwaukee is limited to offering minimum-salary contracts to outside free agents, while Memphis and New Orleans have financial constraints of their own to consider, so Theis is unlikely to secure a big payday from any of those suitors. Still, they could certainly offer him a path to playing time.
The Grizzlies traded away Steven Adams and Xavier Tillman last season, while New Orleans lost Jonas Valanciunas and Larry Nance Jr. this summer. Milwaukee has Brook Lopez manning the middle, but his name came up in trade rumors last month.
Here are a few more free agency notes from around the NBA:
- Although the Magic still have a chunk of cap room left over, they don’t appear to be aggressively pursuing outside free agents using that room. Jason Beede of The Orlando Sentinel (subscription required) hears that there continues to be mutual interest in new deals for free agents Moritz Wagner and Joe Ingles — if both players return, Orlando would have 15 players on standard contracts. A report on Monday suggested the team is also exploring using some cap room to renegotiate and extend Jonathan Isaac‘s contract.
- Caleb Martin doesn’t have a deal in place with a new team yet, but Ira Winderman of The South Florida Sun Sentinel (Twitter link) still views him as “all but gone” from the Heat. Re-signing Haywood Highsmith remains a possibility for Miami, per Winderman, who says the team may also sign another veteran free agent for the minimum. Winderman names Dennis Smith Jr. as a possible Heat target.
- Free agent wing Gary Trent Jr. appears likely to leave the Raptors, according to Eric Koreen of The Athletic. As Koreen details, Toronto’s agreement with Garrett Temple means there are already 15 players projected to be on guaranteed contracts if second-round picks Jonathan Mogbo and Jamal Shead are signed using the second-round exception, as expected. In other words, the team’s free agent business might be just about done.
- Kelly Iko of The Athletic hears that Trent had some interest in reuniting with former teammate Fred VanVleet in Houston, but the Rockets are another team who likely won’t do much more free agent shopping. Following the additions of Reed Sheppard and AJ Griffin, along with a new deal with Aaron Holiday, Houston projects to have 15 players under contract. While the Rockets would certainly still be interested in acquiring a young star, the two players they’ve been monitoring most closely, per Iko – Donovan Mitchell and Devin Booker – aren’t available, and the asking price for Jazz forward Lauri Markkanen was considered too high.
Heat Sign Kel’el Ware To Rookie Scale Contract
The Heat have officially signed first-round pick Kel’el Ware to his rookie scale contract, the team announced today in a press release. Ware becomes the first player selected in the 2024 draft to formally sign his first NBA contract.
Considered one of the top centers in this year’s rookie class, Ware transferred to Indiana a year ago after spending his freshman year at Oregon. He enjoyed a breakout year for the Hoosiers, averaging 15.9 points, 9.9 rebounds, and 1.9 blocks in 32.2 minutes per game (30 contests), earning All-Big Ten and Big Ten All-Defense honors.
As the No. 15 pick in this year’s draft, Ware will earn a first-year salary of approximately $4.23MM. His four-year deal with Miami, which includes team options on the third and fourth seasons, will be worth about $20.47MM.
While teams can’t complete trades or certain signings until July 6, they’re allowed to sign first- or second-round picks to contracts during the moratorium period, so the Heat didn’t have to wait until Saturday to have Ware put pen to paper.
Southeast Notes: Valanciunas, Salaun, Simpson, Wagner, Heat
Reaching a three-year agreement with 32-year-old center Jonas Valanciunas seems like an odd move for a rebuilding team. So why did the Wizards do it?
As Josh Robbins and William Guillory of The Athletic see it, Valanciunas’ presence will allow second overall draft pick Alex Sarr to develop at a slow and steady pace. Sarr needs to add bulk and muscle to his seven-foot frame and Valanciunas can match up against more physical centers. The veteran can also serve as a role model to the team’s other younger players.
We have more from the Southeast Division:
- Hornets lottery pick Tidjane Salaun suffered a minor laceration near his knee but is expected to be available for the start of Las Vegas Summer League next week. However, he will unavailable when the team begins mini-camp in Sacramento on Tuesday. Second-round pick KJ Simpson won’t play during either the Sacramento or Las Vegas Summer Leagues as he continues to rehab a hamstring injury suffered during the pre-draft process. He is expected to be fully recovered and available at the start of training camp this fall, according to the team’s PR department (Twitter links).
- The Magic have reached an agreement with backup big Goga Bitadze but they’re still interested in re-signing Moritz Wagner, who reciprocates that interest, Jason Beede of the Orlando Sentinel tweets. Orlando declined its $8MM option on Wagner’s contract prior to free agency.
- Other than reaching a two-year agreement with Kevin Love, the Heat haven’t done much in terms of their 15-man roster during the first two days of free agency. It’s a product of the team’s salary-cap crunch, according to Anthony Chiang of the Miami Herald. They don’t have much to offer to outside free agents and new restrictions in the CBA make it harder to pull off a trade. Miami also doesn’t have much draft capital to facilitate those deals.
Heat Officially Sign Keshad Johnson To Two-Way Deal
The Heat have become the first NBA team to officially fill all three of their two-way contract slots for the 2024/25 season after announcing in a press release that they’ve signed forward Keshad Johnson to a two-way deal.
A 6’7″ swingman who went undrafted last week out of Arizona, Johnson played for San Diego State across his first four seasons of NCAA eligibility before using his “super-senior” season to transfer to the Wildcats.
In 2023/24, he posted averages of 11.5 points, 5.9 rebounds, 1.8 assists, 1.0 steals and 0.7 blocks per game, with a shooting line of .530/.387/.710. He reached a two-way agreement with the Heat shortly after the end of Thursday’s draft.
Johnson joins Zyon Pullin and Dru Smith as Miami’s two-way players, with all three formally signing their contracts today. While the July moratorium prevents teams from officially finalizing trades and some forms of signings, two-way deals can be completed during the moratorium period.
Since two-way contracts don’t count against the salary cap and carry little guaranteed money, it’s not a lock that Johnson, Pullin, and Smith will still occupy those slots by opening night — especially since Miami still has two-way qualifying offers out to Cole Swider and Alondes Williams. But it looks like the trio currently under contract should at least have an opportunity to begin the season on Miami’s 18-man roster.
Heat Re-Sign Dru Smith To Two-Way Contract
The Heat have re-signed guard Dru Smith to a two-way contract, the team announced today in a press release.
Smith, who began last season on Miami’s 15-man roster, appeared in just nine games before a major ACL injury cut his season short and led to his eventual release. Smith suffered that injury in Cleveland when he fell awkwardly into the bench area, prompting the Heat to contact the NBA to express concerns with what they viewed as an unsafe drop-off along the sidelines.
Smith was playing well in limited minutes prior to the injury, averaging 4.3 points, 1.6 assists, and 1.6 rebounds in 14.6 minutes per game, with a shooting line of .455/.412/1.000. He also appeared in 15 NBA regular season games in 2022/23 with the Heat and Nets.
Outside of his half-season stint in Brooklyn to close out the ’22/23 season, Smith has spent much of his professional career bouncing on and off the Heat’s roster since going undrafted out of Missouri in 2021. He has been waived by Miami four separate times since 2021, but is back under contract with the team heading into ’23/24.
The Heat also officially signed undrafted rookie Zyon Pullin to a two-way contract today. Another undrafted free agent, Keshad Johnson, is expected to occupy Miami’s third two-way slot.
Heat Officially Sign Zyon Pullin To Two-Way Contract
The Heat have officially signed undrafted rookie free agent Zyon Pullin to a two-way contract, the team confirmed in a press release. Reporting after last week’s draft indicated the two sides had reached an agreement.
A 6’4″ guard out of Florida, Pullin played for UC Riverside from 2019-23 before transferring to the Gators for his super-senior year. He was an All-SEC honoree in 2023/24 after averaging 15.5 points, 4.9 assists, 3.9 rebounds, and 0.9 steals per contest in 33 games (27 starts), with a shooting line of .444/.449/.847.
Miami also reportedly reached a two-way agreement with Arizona forward Keshad Johnson, so he and Pullin appear poised to fill two of the team’s three two-way slots heading into the fall.
While many transactions can’t be completed during the NBA’s ongoing moratorium period, two-way signings are among the moves that can be officially finalized, so we’ll likely see plenty of them announced in the coming days.
Heat Re-Sign Kevin Love To Two-Year Deal
JULY 6: Love is officially back under contract with the Heat, the team confirmed today in a press release.
JUNE 30: The Heat and big man Kevin Love have agreed to a new deal, according to Shams Charania of The Athletic (Twitter link). Love will sign a two-year contract worth over $8MM, sources tell Charania. The agreement doesn’t include an option year, tweets Ira Winderman of The South Florida Sun Sentinel.
A minimum-salary contract for Love would be worth in the neighborhood of $7MM, so it sounds like Miami is going a little higher than that to bring him back.
Love, 35, initially joined the Heat on the buyout market during the second half of the 2022/23 season and played a key role on the team that made the NBA Finals that spring. He re-signed with Miami a year ago and averaged 8.8 points, 6.1 rebounds, and 2.1 assists in 16.8 minutes per game across 55 appearances (five starts) in 2023/24.
Love held a player option for the 2024/25 season that he decided to turn down on Saturday. That option was worth just north of $4MM, so it appears he’ll be back for around the same price, with an extra year tacked onto his new contract.
Love will provide depth in a frontcourt headed up by star center Bam Adebayo. Big man Thomas Bryant is an unrestricted free agent and Orlando Robinson has a non-guaranteed salary for 2024/25, but the Heat added a center in the draft by selecting Kel’el Ware out of Indiana.