Hornets Sign Kelly Oubre To Two-Year Deal
AUGUST 7: Oubre and the Hornets have now finalized a two-year, $25MM contract, agent Torrel Harris tells Chris Haynes of Yahoo Sports (Twitter link). Charlotte announced the signing in a press release.
It appears Oubre’s starting salary will come in slightly lower than initially expected after Charlotte took on Wesley Iwundu in a trade with New Orleans.
The deal won’t feature any options, per Michael Scotto of HoopsHype (Twitter link). However, Rod Boone of SI.com (Twitter link) says the second year will be partially guaranteed and Anthony Slater of The Athletic provides the specifics, tweeting that $5MM of Oubre’s $12.6MM salary for 2022/23 will be guaranteed.
AUGUST 5: The Hornets and free agent wing Kelly Oubre are in agreement on a two-year deal that will be worth $26MM+, sources tell Shams Charania of The Athletic (Twitter link).
David Aldridge of The Athletic reported earlier on Thursday that the Hornets and Oubre had engaged in discussions, while Chris Haynes of Yahoo Sports was first to report that the two sides were finalizing a multiyear deal expected to exceed $12MM per year.
Charlotte, one of the only NBA teams that still had the cap room necessary to make an offer worth more than the full mid-level exception ($9.5MM), had also reportedly been mulling an offer sheet for Lauri Markkanen. However, the Hornets’ agreement with Oubre will eat up most – if not all – of their remaining cap room, presumably taking an aggressive bid for the Bulls‘ restricted free agent forward off the table.
Oubre, 25, has spent time with the Wizards, Suns, and Warriors since entering the league as the 15th overall pick in the 2015 draft. In 2020/21, he averaged 15.4 PPG and 6.0 RPG on .439/.316/.695 shooting in 55 games (30.7 MPG) for Golden State.
While Oubre possesses good size and athleticism for a three-and-D wing, his three-point shot has been inconsistent over the course of his career (32.6%).
Charlotte will be hoping to get the 2019/20 version of Oubre, who averaged 18.7 PPG with a .352 3PT% for the Suns. The former Kansas Jayhawk will join a talented group of Hornets forwards that includes Gordon Hayward, Miles Bridges, and P.J. Washington.
Since the Hornets have the ability to sign Oubre outright using their cap room and his new contract will only be for two years, it won’t be a sign-and-trade deal involving the Warriors.
Hornets Waive Caleb Martin
The Hornets have waived shooting guard Caleb Martin, according to a team press release.
Martin had a $1,782,621 salary for next season that was due to guarantee on August 15. By releasing him now, Charlotte won’t carry any dead on its cap for him in 2021/22.
Martin averaged 5.0 PPG, 2.7 RPG and 1.3 APG in 15.4 MPG while seeing action in 53 games. Martin, who went undrafted in 2019, appeared in 71 games the last two seasons.
The move clears some additional cap space for Charlotte to officially sign Kelly Oubre Jr., who agreed to a two-year deal on Friday.
And-Ones: Smith, Biyombo, Spurs, Hall, Almansa, Trade Market
The Pistons officially renounced their rights to Wayne Ellington, who has signed with the Lakers, and Dennis Smith Jr., according to the RealGM transactions log. The Hornets renounced four players, including Bismack Biyombo, while the Spurs renounced their rights to a whopping 13 players. San Antonio’s list includes Donatas Motiejunas and David Lee, who haven’t appeared in an NBA game for years. Renouncing those rights allows teams to maximize their cap room in free agency.
We have more from the basketball world:
- Donta Hall has signed with France’s Betclic Elite side AS Monaco, Sportando relays. Hall, who turns 24 on Saturday, played 13 games with the Magic this past season on two 10-day contracts and an end-of-the-season deal via the hardship exception. The power forward also played a total of nine games for the Pistons and Nets in 2019/20.
- Overtime Elite has added another top European prospect. Izan Almansa has signed with the league, Jonathan Givony of ESPN tweets. The 6’9” Almansa, a 16-year old Spanish power forward, is the second player OTE has signed from Real Madrid’s youth program and seventh international prospect.
- While free agency is winding down, the trade market could continue to percolate in the coming weeks, John Hollinger of The Athletic writes. Ben Simmons and Damian Lillard top the list of stars who could be on the move, while the Raptors and Magic are teams to watch, with the latter possibly taking on an onerous contract in order to acquire future assets.
- The ESPN duo of Tim Bontemps and Bobby Marks also take a look at unresolved storylines this month involving free agency, the trade market and potential extensions.
Aron Baynes Could Miss Next Season
Free agent center Aron Baynes could miss next season due to a neck injury, Shams Charania of The Athletic tweets.
Baynes, who played for the Raptors last season, has severe nerve damage in his neck and is currently in the hospital, says Charania. Baynes, a member of the Australian national team that took the bronze medal at the Olympics, initially injured his neck in a victory over Italy. He suffered a more significant injury slipping in the team bathroom.
The Raptors waived Baynes on Wednesday before his $7.35MM salary for 2021/22 would’ve become fully guaranteed.
Baynes signed a two-year contract with the Raptors during the 2020 offseason after enjoying a career year in Phoenix. He averaged 6.1 PPG and 5.2 RPG in 53 games (18.5 MPG) with Toronto and his shooting percentages (.441/.262/.707) were significantly below his career rates.
However, Baynes was expected to attract interest in the open market from teams looking to add to their frontcourt depth.
Jimmy Butler Signs Max-Salary Extension With Heat
AUGUST 7: Butler has officially signed the extension, according to a team press release.
“Jimmy is the anchor and face of our franchise along with Bam (Adebayo) and Kyle (Lowry),” Heat president Pat Riley said in a statement. “With Jimmy, we get an All-NBA player, an All-NBA Defensive player, tough as nails and a complete player across the board. He’s very deserving of this contract as he continually puts himself at the top of the league at his position. Having him in the HEAT organization has been a great, great coup for us.”
AUGUST 6: The Heat and Butler are in formal agreement on a new four-year extension, reports Ira Winderman of The South Florida Sun Sentinel.
The extension will include a player option for the 2025/26 season, according to Winderman, who says the deal is worth a projected $184MM.
AUGUST 2: Jimmy Butler is expected to sign a four-year max extension with the Heat, Jon Krawczynski and Shams Charania of The Athletic report (Twitter link).
Butler can officially sign the extension on Friday. Based on the projected 2022/23 salary cap, the extension will be worth approximately $186.6MM.
The acquisition of Butler in a sign-and-trade with Philadelphia in 2019 propelled the club to the 2020 Finals and he’s looked upon as the leader of a team built on toughness and defense.
There was growing optimism that Butler and the franchise would agree to an extension and that has apparently come to fruition. Butler’s extension is part of a frenzy of planned moves designed to get Miami back to the Finals next season, according to Marc Stein of Substack.
Miami is also acquiring veteran point guard Kyle Lowry and re-signing sharpshooting wing Duncan Robinson.
Injuried limited Butler to 52 regular season games this past season but he still put up big numbers — 21.5 PPG, 6.9 RPG, a career-high 7.1 APG and 2.1 SPG.
Pelicans Officially Acquire Valanciunas, Graham In Three-Team Trade
The Pelicans have officially announced a pair of previously–reported trades, having combined their acquisitions of center Jonas Valanciunas and point guard Devonte’ Graham into a single transaction involving both the Grizzlies and Hornets. Memphis and Charlotte have put out press releases as well.
The details of the three-team deal are as follows:
- To Pelicans:
- Valanciunas (from Grizzlies)
- Graham (sign-and-trade; from Hornets)
- The draft rights to Trey Murphy (No. 17 pick; from Grizzlies)
- The draft rights to Brandon Boston (No. 51 pick; from Grizzlies)
- Note: Boston will be rerouted to the Clippers in a subsequent trade.
- To Grizzlies:
- Eric Bledsoe (from Pelicans)
- Steven Adams (from Pelicans)
- The draft rights to Ziaire Williams (No. 10 pick; from Pelicans)
- The draft rights to Jared Butler (No. 40 pick; from Pelicans)
- Note: Butler will be rerouted to the Jazz in a subsequent trade.
- The Lakers’ 2022 first-round pick (top-10 protected; from Pelicans)
- To Hornets:
- Wesley Iwundu (from Pelicans)
- The Pelicans’ 2022 first-round pick (top-14 protected; from Pelicans)
- Note: If the Pelicans’ 2022 first-rounder falls in the top 14, the Hornets will instead receive New Orleans’ 2022 and 2024 second-round picks, per Rod Boone of SI.com.
- Cash (from Pelicans)
- The draft rights to Tyler Harvey (from Grizzlies)
The details of the three-team trade essentially line up with what was previously reported, with two new pieces added — Iwundu going from New Orleans to Charlotte and Harvey’s draft rights going from Memphis to Charlotte. Harvey was presumably only included to ensure that the Grizzlies and Hornets were “touching,” since otherwise Memphis would only have been exchanging assets with the Pelicans.
Looping their sign-and-trade acquisition of Graham into the trade suggests the Pelicans will operate over the cap, using Bledsoe’s and Adams’ outgoing salaries in order to match both Valanciunas and Graham instead of signing Graham into cap space.
As Bobby Marks of ESPN notes (via Twitter), it also allows New Orleans to generate a $17MM+ trade exception in the deal. Only Bledsoe’s and Iwundu’s outgoing salaries are needed for matching purposes to take on Valanciunas and Graham, meaning the Pelicans’ new TPE is worth Adams’ salary ($17,073,171).
Graham reportedly signed a four-year, $47MM contract with the Pelicans as part of the trade. He and Tomas Satoransky appear set to play the majority of the minutes at point guard in New Orleans, barring further roster changes. The team is sending Lonzo Ball to Chicago in a separate sign-and-trade deal.
Graham made just 37.7% of his field goal attempts in 2020/21, but his three-point mark was a very respectable 37.5%. In addition to his ability to make threes, Graham is an above-average play-maker (6.5 APG over the last two seasons) and a respectable defender.
Swapping out Adams for Valanciunas should allow the Pelicans to improve their frontcourt spacing. Valanciunas isn’t exactly a long-distance marksman, but has a solid mid-range game and will shoot the occasional three-pointer, which should create more room for Zion Williamson to operate. The former No. 5 overall pick averaged an impressive 17.1 PPG and 12.5 RPG with a .592/.368/.773 shooting line in 62 games (28.3 MPG) this past season.
From the Grizzlies’ perspective, the deal was a way to improve their draft assets in both 2021 and 2022 as a result of their willingness to take on Adams’ and Bledsoe’s pricey contracts. The team moved up from No. 17 to No. 10 to snag Williams, and later flipped the No. 40 pick (Butler) to Utah in a separate trade to move up to No. 30 for Santi Aldama.
[RELATED: 2021 NBA Offseason Trades]
The Hornets, meanwhile, decided to move on from Graham and got a protected first-round pick from New Orleans in exchange for waiving their right to match an offer sheet for the restricted free agent. Iwundu’s guaranteed $1.82MM salary for 2021/22 will eat up a small amount of Charlotte’s cap room, but the team will still have enough flexibility to complete its signing of Kelly Oubre to a two-year deal in the range of $12-13MM per year.
Raptors Notes: Lowry, Achiuwa, Dragic, Birch, TPE, Ujiri
There was some speculation leading up to free agency that Toronto would make an effort to re-sign veteran point guard Kyle Lowry, but comments made on Friday by the six-time All-Star and by Raptors general manager Bobby Webster suggested both sides felt the time was right to move on, writes Josh Lewenberg of TSN.ca.
“I think the direction Toronto is going in is they want to give the opportunities to (Fred VanVleet), Pascal (Siakam), OG (Anunoby), a couple young guys, the young draft picks they have,” Lowry told reporters. “They have some great core pieces. They’re in great hands and great shape. It was a situation for me where it was an opportunity to do something different… It’s time to turn the page in the book.”
Webster conveyed a similar sentiment: “You probably could see (during the 2020/21 second half) the direction the team was going in, and jumping up in the draft to get the fourth pick, philosophically, I think going young became kind of a more desirable path.”
Once they recognized Lowry would be moving on, the Raptors could’ve decided to let him walk in order to open up cap room to pursue a free agent. However, that path offered less certainty, especially if the team made an offer sheet to a restricted free agent (such as Jarrett Allen) not knowing whether it would be matched. The Raptors preferred to acquire Goran Dragic and Precious Achiuwa via a sign-and-trade with the Heat, Lewenberg writes.
“Precious is a huge part of this deal for us,” Webster said. “We really liked him last year in the draft so I think that was a huge get in the sense of a young player that we like and fits.”
Here’s more on the Raptors:
- Throughout the week, there were rumors that Toronto may try to flip Dragic to a third team after acquiring him via sign-and-trade. Webster said on Friday that’s not Plan A. “Obviously, if we got an offer that was too good to refuse we’d listen but ultimately we want Goran here,” the Raptors’ GM said, per Lewenberg. “He’s happy to be here, obviously he’s been able to carve out a very nice career for himself. Talking to (team president) Masai (Ujiri), talking to everyone here, we’ve watched him a ton and I know a lot of people have seen him kill us. As a basketball player, as a vet, he provides a lot of value to us.”
- After his new three-year deal with the Raptors was formally announced on Friday, Canadian center Khem Birch told reporters he was focused throughout free agency on returning to the team, as Doug Smith of The Toronto Star writes. “It feels like a dream come true,” Birch said. “It’s so surreal right now … just one of those free agencies where I knew where I wanted to go. I don’t even know what other teams were interested in me. I just wanted to come here regardless of the price or the years or anything. I just knew this was a great fit. I’m just happy I’m here.”
- The Raptors will generate a traded player exception as a result of the Kyle Lowry sign-and-trade to Miami. It’ll be worth somewhere between $4.8MM and $7.7MM, depending on the specific structure of Lowry’s new contract, writes Blake Murphy of The Athletic.
- Speaking to Jared Weiss of The Athletic, Raptors chairman Larry Tanenbaum confirmed that Masai Ujiri‘s new vice chairman title won’t give him an ownership stake in the franchise, but said it reflects his standing in the organization. “I chair the Raptors, but it’s just a recognition that we’re really working together,” Tanenbaum said. “We’re partners.”
- Tanenbaum added in the same interview that the team’s plan is to have Lowry retire as a Raptor down the road and to retire his number. “He will retire as a Raptor and his number will absolutely go up there,” Tanenbaum said. “The honor will be the first one (for the Raptors) and I love Kyle.”
NBA 2021 Free Agency: Day 5 Recap
When we published our recap of Day 4 of the NBA’s 2021 free agent period on Thursday, I noted that the pace seemed to be slowing and that it would likely be our last daily roundup unless Friday was especially busy.
As it turns out, Friday was a pretty active news day, so we’re back at least once more tonight with our recap of all the day’s biggest NBA headlines.
Let’s dive in…
Here are Friday’s most noteworthy free agent deals and contract extension agreements:
Kawhi Leonard agreed to re-sign with the Clippers, though the two sides are still working through the terms of his new contract.- Kevin Durant agreed to a four-year, maximum-salary extension with the Nets that will be worth nearly $198MM.
- Jimmy Butler agreed to a four-year, maximum-salary extension with the Heat that projects to be worth more than $186MM.
- Reggie Jackson agreed to a two-year, $21.6MM deal with the Clippers.
- Andre Iguodala agreed to return to the Warriors on a one-year, minimum-salary deal.
- Justise Winslow agreed to a two-year deal with the Clippers that will reportedly come out of the team’s taxpayer mid-level exception.
- Willy Hernangomez agreed to a three-year deal with the Pelicans.
- Omer Yurtseven signed a two-year, minimum-salary deal with the Heat.
- DeAndre’ Bembry agreed to a one-year, minimum-salary deal with the Nets.
- Javonte Green agreed to a two-year deal with the Bulls.
The NBA’s 2021 free agency moratorium ended at 11:00am CT on Friday, allowing teams to complete the free agent deals and trades they’d tentatively agreed upon earlier in the offseason. Plenty of teams took advantage of the ability to officially make moves — the Lakers and Heat were among the teams that announced several signings.
A number of big-money contract extensions were formally completed today, including maximum-salary deals for Warriors guard Stephen Curry (story), Hawks guard Trae Young (story), and Thunder guard Shai Gilgeous-Alexander (story).
Some of the summer’s biggest free agent signings also became official, including John Collins‘ five-year deal with the Hawks, Jarrett Allen‘s five-year deal with the Cavaliers, Norman Powell‘s five-year deal with the Trail Blazers, Duncan Robinson‘s five-year deal with the Heat, Chris Paul‘s four-year deal with the Suns, and Mike Conley‘s three-year deal with the Jazz, among others.
Finally, the league started processing trade calls, including the Suns‘ acquisition of Landry Shamet, the Hornets‘ acquisition of Mason Plumlee, the Heat‘s sign-and-trade for Kyle Lowry, and the massive five-team deal that sent Russell Westbrook to the Lakers and Spencer Dinwiddie to the Wizards.
Here are several more of the day’s notable headlines:
- The Grizzlies agreed to trade Grayson Allen to the Bucks in exchange for Sam Merrill and a pair of future second-round picks.
- Bulls restricted free agent Lauri Markkanen told a Finnish reporter he’s seeking a change of scenery and a “fresh start.”
- The Lakers announced they’ve signed head coach Frank Vogel to a contract extension.
- The Celtics have engaged in contract discussions with free agent guard Dennis Schröder.
- The Thunder officially completed their buyout agreement with Kemba Walker and placed him on waivers.
- The Pistons waived Rodney McGruder.
Previously:
Blazers Notes: Lillard, Free Agency, Roster, McCollum
Asked on Friday in Tokyo about the Trail Blazers‘ moves in free agency, star point guard Damian Lillard suggested that the team missed out on some of its top targets, as Joe Vardon of The Athletic relays.
“You never know where guys are going to end up and why they go there. You just try to have conversations and convince guys to be a part of our team,” Lillard said. “And obviously, this go around, we weren’t able to go out there and just get some of the guys that we would have liked.
“(So) you go down the list and you go through the guys that are out there that you like who haven’t committed to a team or were a part of your plans in free agency and you get the ones that want to be a part of what you’re doing. And I think that’s what we did.”
The Trail Blazers’ free agent additions include Cody Zeller, Tony Snell, and Ben McLemore. According to Jason Quick of The Athletic, the team also had interest in Nicolas Batum, and made an effort to lure Kelly Oubre to Portland with the taxpayer mid-level exception. Oubre ended up elsewhere even though Damian Lillard made a pitch to him at the end of the regular season.
“It wasn’t anything deep other than ‘Would he be open to it?’ and he said he was,” Lillard told Quick. “I liked Oubre as a complement to other guys I thought we would be able to get. We didn’t get them.”
As Quick outlines, the Blazers’ “real” offseason will begin when Lillard finishes his Olympics run and returns to Portland to evaluate the roster and assess his options. There are three roads the rest of the Blazers’ summer could take, in Quick’s view: Portland convinces Lillard that running it back and being patient is the right approach; the team makes a major trade that changes Lillard’s view of the Blazers’ trajectory; or the All-NBA guard asks to be traded.
Here’s more on the Blazers:
- Quick confirms that the deals Zeller, McLemore, and Snell are signing are all worth the veteran’s minimum. The Blazers still have the taxpayer mid-level exception available, but aren’t aggressively pursuing any players left on the market and will likely hang onto that exception for now, Quick adds.
- The Blazers have 13 players projected for the regular season roster for now. They plan to enter the season with 14, but they’re keeping that 14th spot open for now to maintain flexibility, according to Quick, who notes that the spot may be useful for a trade in which Portland takes back more players than it sends out.
- While CJ McCollum is perhaps the most obvious trade candidate on the Blazers’ roster, it doesn’t sound like he’s being actively shopped, says Quick. Quick isn’t sure whether other teams simply don’t value McCollum like the Blazers do, but says the club won’t move him just to shake up the roster — a deal would have to improve the roster. So far, no opportunities fit that bill.
Nets Sign Day’Ron Sharpe To Rookie Contract
The Nets have signed first-round pick Day’Ron Sharpe to his first NBA contract, the team announced on Friday in a press release.
The Suns drafted Sharpe with the No. 29 pick last week on behalf of the Nets, who had agreed on draft day to acquire that pick along with Jevon Carter in exchange for Landry Shamet. The trade couldn’t become official until today, and Brooklyn didn’t waste any time in locking up Sharpe to his rookie contract.
Sharpe, who declared for the draft after a single season at North Carolina, averaged 9.5 PPG and 7.6 RPG in 29 games (19.2 MPG) for the Tar Heels. The 6’11” center is one of five prospects selected by the Nets in this year’s draft and is the second one to officially sign with the club, joining fellow first-rounder Cameron Thomas.
As our breakdown of this year’s rookie scale salaries shows, Sharpe is on track to earn just over $2MM in his first NBA season is he receives the maximum allowable 120% of the rookie scale.