2023/24 NBA Two-Way Contract Conversions

At Hoops Rumors, we track virtually every kind of transaction, including free agent signings, trades, contract extensions, and many more. One form of roster move that has become increasingly common in recent years is the two-way conversion, involving a player either being converted from an Exhibit 10 contract to a two-way deal, or from a two-way deal to the standard roster.

We’re going to track all of the two-way conversions (either to or from the standard roster) in 2023/24 in the space below.

Let’s dive in…

Exhibit 10 contracts to two-way contracts:

When a player signs a contract during the offseason that includes Exhibit 10 language, he gives his new team the ability to unilaterally convert his deal into a two-way contract. The deadline to convert such a deal is the day before the season begins — this year that was Monday, October 23.

A player who signs a training camp contract that doesn’t include Exhibit 10 language could still sign a two-way deal with his club as long as his camp contract doesn’t include a guarantee exceeding $75K. However, he’d have to clear waivers before inking that new two-way contract.

Here are the players who had their Exhibit 10 contracts converted into two-way deals in 2023/24:

The majority of these players were invited to training camp on Exhibit 10 contracts and ultimately earned two-way slots based on their performances in camp and the preseason.

No additional names will be added to this list for the rest of the 2023/24 season, since players can’t be converted to two-way deals after the regular season begins.

Two-way contracts to standard contracts:

A player who is on a two-way contract can have his deal unilaterally converted a one-year, minimum-salary contract by his team (or a two-year, minimum-salary contract if the player’s two-way deal covers two years, but this is rare).

Generally though, the team’s preference is to negotiate a longer-term contract with the player in order to avoid having him reach free agency at season’s end.

When converting a player from a two-way contract to the standard roster, the team can use cap room or the non-taxpayer mid-level exception to negotiate a deal of up to four years; the room exception for a deal up to three years; or the taxpayer mid-level exception, bi-annual exception, or minimum salary exception for a two-year deal.

The player must agree to any deal that is worth more than the minimum or exceeds the number of years left on his two-way pact.

Here are the players who have been converted from two-way deals to standard contracts so far in 2023/24, along with the terms of their new contracts, in chronological order:

  • E.J. Liddell (Pelicans): Three years, minimum salary (story). First two years guaranteed. Third-year team option. Signed using non-taxpayer mid-level exception.
  • Dru Smith (Heat): Two years, minimum salary (story). First year partially guaranteed ($425K). Second year non-guaranteed. Signed using minimum salary exception.
  • Dylan Windler (Knicks): One year, minimum salary (story). Non-guaranteed. Signed using minimum salary exception.
  • Skylar Mays (Trail Blazers): One year, minimum salary (story). Partially guaranteed ($850K). Signed using minimum salary exception.
  • Joshua Primo (Clippers): Two years, minimum salary (story). First year guaranteed. Second year partially guaranteed ($1MM). Signed using minimum salary exception.

Players on two-way contracts can be converted to standard deals until the last day of the regular season, so we expect to add many more players to this second list in the coming months.

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