Kevin Love Re-Signs With Cavs
3:22pm: The Cavaliers have released a formal announcement regarding Love’s deal.
3:12pm: The Cavs still haven’t made any formal announcement, but a message with emojis on the team’s Twitter account indicates that Love has signed.
JULY 9TH, 10:07am: The Cavs have yet to make a formal announcement, but Love said in video for The Players’ Tribune that his contract is “inked and official,” as Chris Haynes of the Northeast Ohio Media Group transcribes.
9:35pm: Love’s deal includes a player option for the fifth year, Zach Lowe of Grantland reports (Twitter link).
JULY 1ST, 1:32pm: Kevin Love will re-sign with the Cavaliers, as he says in a self-authored piece on The Players’ Tribune. Love has long insisted that he would remain with Cleveland, in spite of plenty of stories indicating that he would look elsewhere, and a meeting he apparently had planned with the Lakers. It’ll be a five-year deal for about $110MM, tweets Brian Windhorst of ESPN.com, in what appears to be a long-term commitment at the max.
“Yeah, of course I’ve heard the free agency rumors,” Love wrote. “But at the end of the day, and after meeting with my teammates (it turns out pools are great meeting places) and with the front office, it was clear Cleveland was the place for me. We’re all on the same page and we’re all in. We have unfinished business and now it’s time to get back to work.”
Love’s revelation brings to a close months of back-and-forth as rumors that Love would leave Cleveland continually surfaced and Love consistently denied them. The power forward did change his mind about declining his player option, as he said in January that he planned to opt in, but opting out was always the more financially sensible proposition, since the max will almost certainly entail more money for this coming season than he would have made on the option, worth only about $16.744MM.
The Lakers and Celtics were most often connected to him, but the Rockets and Blazers were also identified as teams with interest in recent days, and indeed, he seemingly remains a sought-after commodity around the league even in the wake of a down season that ended with a shoulder injury in the first round of the playoffs. He struggled to mesh with LeBron James both on and off the court, but James apparently still wanted him to stay.
Suns Sign Tyson Chandler
JULY 9TH, 2:55pm: The deal is official, the team announced.
“Tyson Chandler will be a leader on and off the court,” president of basketball operations Lon Babby said. “His physical stature is matched by his immense presence as an individual of high character who is highly respected by the NBA community. It is an honor to welcome this NBA Champion and All-Star to Phoenix.”
JULY 1ST, 2:15pm: The Suns have agreed to a deal with Tyson Chandler, reports Adrian Wojnarowski of Yahoo! Sports (on Twitter). It’ll be a four-year contract worth $52MM, according to Marc Stein of ESPN.com (Twitter link). Chandler will attend the team’s pitch meeting with LaMarcus Aldridge, Wojnarowski adds (Twitter link).
The Mavs and Bucks seemed like the teams with the best shot at the Jeff Schwartz client initially, but they faded, which was seemingly a positive sign for the Lakers and Clippers, who were other reported suitors. Instead, the Suns swoop in and score one of the league’s premiere defensive centers. Chandler, who turns 33 in October, no doubt saw the Suns’ renowned training staff as a draw, though that’s just my speculation.
Dallas wanted to bring back Chandler if it missed out on DeAndre Jordan, as Tim MacMahon of ESPNDallas.com reported this spring, but that won’t be happening now, applying greater pressure on the Mavs to reach a deal with Jordan. The Suns are using most of their cap space on Chandler, so a pursuit of Aldridge or any other marquee free agent will be difficult barring a salary-clearing trade. Phoenix is also re-signing Brandon Knight to a five-year, $70MM deal using his Bird rights.
Clippers Sign Wesley Johnson
THURSDAY, 2:35pm: The deal is official, the team announced.
TUESDAY, 2:16pm: Wesley Johnson is set to join the Clippers, reports Shams Charania of RealGM (Twitter link). It’ll be a minimum salary deal, according to Sam Amick of USA Today (on Twitter). Johnson was reportedly seeking a multiyear deal, having hit free agency three years in a row, but this is another one-year arrangement, tweets Mark Medina of the Los Angeles Daily News.
Ramona Shelburne of ESPNLosAngeles.com identified the Clippers as an interested party back in May, and Clippers coach/executive Doc Rivers met with the Octagon Sports client soon after the start of free agency last week, as Charania reported then.
Johnson wanted to return to the Lakers, but while the potential of the former fourth overall pick apparently intrigued the purple-and-gold, his inconsistency was an issue. The Clippers have $2.088MM left on their mid-level exception after agreeing to sign Paul Pierce, but it looks like they’re preserving that instead of using it on Johnson. He’ll make $1,100,602 as a five-year veteran, though the Clippers will only be responsible for $947,276, the equivalent of the two-year veteran’s minimum, since he’s on a one-year deal.
Lakers, Suns Talk To Cavs About Brendan Haywood
The Lakers and Suns are among the teams having discussions with the Cavs about trading for Brendan Haywood and his sizable non-guaranteed contract, according to Sam Amico of Fox Sports Ohio, writing for Amico Hoops. The Clippers are another, Amico writes, advancing earlier reports connecting the Cavs to Jamal Crawford. Cleveland had reportedly spoken a few days ago to the Nets about trading Haywood, and Anderson Varejao, to the Nets for Joe Johnson, but that conversation has since tailed off, and sources told Amico that Cleveland hasn’t offered Varejao to anyone in its most recent proposals. Haywood isn’t planning to retire if he’s waived, a source tells Dave McMenamin of ESPN.com (Twitter link).
[RELATED: LeBron James To Re-Sign With Cavs]
Haywood’s contract, a vestige of the amnesty clause that’s worth a non-guaranteed $10,522,500 this coming season, has value to teams seeking to clear cap space or avoid luxury tax payments. Cleveland can use it in a trade that brings in as much as $5MM more, or $13,253,125 if that trade leaves the Cavs over the tax threshold. Those figures increase if Haywood is paired with someone else. Haywood’s salary becomes fully guaranteed if he remains on the roster through August 1st, so Cleveland has some time, but a limited amount of it. The 35-year-old center saw only 119 total minutes of action this past season, and, according to Amico, many around the league believe he’ll retire if he’s waived in advance of that August deadline, as seems most likely.
The Lakers appear to be using a large chunk of their cap flexibility to trade for Roy Hibbert, though they may send some salary to Indiana. The major stars are off the market, but the acquisition of Haywood, if executed with sufficient time left before August 1st, would give the Lakers another trade chip. The same would be true for the Suns, who reportedly agreed to trade Marcus Morris and two others to the Pistons in an ill-fated effort to clear cap room for LaMarcus Aldridge. Phoenix is also reportedly shopping Markieff Morris.
It’s unclear exactly what the Cavs are looking for in return for Haywood, though Amico speculates that a wing player would fit the bill, which makes sense, given the rumors linking them to Johnson and Crawford. It appeared earlier that they were looking for either a facilitating guard or a scoring point guard, but that was before they struck a deal with Mo Williams.
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Kings, Mavs Interested In Josh Smith
The Kings have a “very strong” interest in Josh Smith, league sources tell Jason Jones of the Sacramento Bee (Twitter links), and the Mavs are in play for him, too, as Michael Scotto of SheridanHoops hears (Twitter link). Still, while six teams have shown interest, “nothing of substance” is in the works for Smith, a source tells Jake Fischer of SI Now (Twitter link), whose report came after the Mavs news but before the report on the Kings. Fischer last week reported that the Kings would soon begin talks with the client of Brian Dyke and Wallace Prather.
Smith has reportedly held mutual interest in re-signing with the Rockets, and he enjoys playing for Kevin McHale, notes Calvin Watkins of ESPN.com (on Twitter). Still, the Rockets have only Non-Bird rights on the forward who signed at midseason, meaning they can only give him $2,492,400, a 20% raise on the $2.077MM he saw in 2014/15, without clearing cap space or raiding the mid-level exception.
The Clippers and Smith also reportedly had mutual interest, though that surfaced before DeAndre Jordan flipped from his decision to sign with the Mavs to recommit to the Clippers instead. Thus, the Clippers only have the minimum salary to offer. The Mavs have loads of cap room that they were to spend on Jordan, while the Kings have roughly $7MM in cap space.
Spurs Re-Sign Tim Duncan
The Spurs have formally re-signed Tim Duncan, the team announced. The sides had been working toward a two-year deal that would pay him $5MM this season with a player option for year two, as TNT’s David Aldridge reported.
Duncan last week confirmed his return for this coming season, which was reportedly in line with San Antonio’s expectation throughout the spring. Little, if any, doubt existed that he would re-sign with the Spurs as long as he indeed decided to play a 19th season in the NBA, but the question has been just how much of a discount the still-productive 39-year-old would give the team.
The Jim Tanner client made nearly $10.362MM this past season, but Aldridge’s report would indicate that his pay has been cut in half. The Spurs will open cap room to sign LaMarcus Aldridge and others, so a $5MM salary for Duncan would give him a lower cap hold and facilitate the addition of San Antonio’s newest star power forward. The $70MM salary cap, nearly $3MM higher than expected, will help, and it could mean Duncan gets a larger salary this season than he otherwise would have.
Knicks Ink Arron Afflalo
JULY 9TH, 12:43pm: The deal is official, the team announced (on Twitter).
JULY 2ND, 8:01am: The Knicks will sign Arron Afflalo to a two-year deal worth $16MM with a player option on the final season, reports Ramona Shelburne of ESPN.com. The agreement gives the Sam Goldfeder client slightly more in average annual value than he would have made had he picked up his $7.75MM player option with the Blazers.
The deal comes as no surprise, as Adrian Wojnarowski of Yahoo! Sports on Monday identified the Knicks as the front-runners for the shooting guard who turns 30 in October, and Chris Mannix of SI.com reported Tuesday that Afflalo was open to a deal that allowed him to hit free agency again in a year or two. The Knicks were to meet with Afflalo today, and it sounds like they either met early this morning or reached agreement before having a sitdown.
New York will use part of its nearly $30MM in cap flexibility on the eight-year veteran, but plenty of room is left over to sign Greg Monroe to a max contract. Monroe is reportedly meeting with the Knicks and three other teams, including Portland.
Wizards Sign Gary Neal
JULY 9TH, 12:39pm: The deal is official, the Wizards announced.
“Gary is a proven veteran who will bring us perimeter shooting and experience,“ GM Ernie Grunfeld said. “Adding him to our rotation makes our backcourt rotation deeper and more versatile.“
JULY 3RD, 2:21pm: The Wizards will sign Gary Neal for one year and $2.1MM, reports Adrian Wojnarowski of Yahoo! Sports (Twitter link). Washington will use its biannual exception, worth $2.139MM, to accommodate the contract, a source tells Ken Berger of CBSSports.com (Twitter link). That leaves the $5.464MM mid-level exception for reported target David West, Wojnarowski notes (on Twitter).
Darren Wolfson of 1500 ESPN Twin Cities raised the possibility of a sign-and-trade deal that would preserve Washington’s biannual when he reported interest in Neal from the Bulls, but it looks at this point that it’ll be a straight signing. The David Bauman client drew the eye of the Wizards this past season, when they would have had interest in signing him if he had engineered a buyout from the Timberwolves, as J. Michael of CSNWashington.com reported then.
Washington appealed to the guard based on its proximity to his hometown in Baltimore and the presence of starters John Wall and Bradley Beal, TNT’s David Aldridge tweets. His deal is a slight pay drop from the two-year, $6.5MM deal he signed in 2013, even though his scoring was up from his time with the Spurs.
Bucks Sign Greg Monroe To Max
JULY 9TH, 12:33pm: The deal is official, the team announced.
“The entire Bucks organization is thrilled to welcome Greg to Milwaukee,” GM John Hammond said. “Greg will be a fantastic complement to the talented young roster we’re assembling. The fact that he chose Milwaukee speaks volumes about the culture we’re developing and the bright future we envision for the Bucks.”
“Greg is a skilled low-post scorer and rebounder, and will add a whole new dimension to our young roster,” coach Jason Kidd said. “He’s just 25 years old and still scratching the surface of his potential. I’m looking forward to helping him develop along with our other talented young players.”
11:40am: Falk strongly denies to Marc Berman of the New York Post that the Knicks didn’t offer the max (Twitter links), and confirms to Ken Berger of CBSSports.com that the Lakers and Blazers did, too, with Milwaukee’s playoff-readiness at the heart of Monroe’s decision (Twitter link).
10:37am: The Knicks, Lakers and Blazers also offered the max, as Bleacher Report’s Howard Beck hears, so that’s conflicting information on New York’s offer (Twitter link). The max for three years will be an estimated $50MM, as Wojnarowski pegs it in his full story.
9:20am: It’ll be a three-year contract with a player option on the final season, Wojnarowski tweets. Monroe will be eligible for a higher max bracket in two years, just as the salary cap is projected to reach its peak.
JULY 2ND, 9:02am: Greg Monroe will sign a maximum-salary contract with the Bucks, reports Adrian Wojnarowski of Yahoo! Sports (Twitter link). The David Falk client was to meet with the Knicks, who long appeared the front-runners for him, as well as the Lakers and Blazers. The Knicks didn’t offer the max to Monroe, as USA Today’s Jeff Zillgitt hears, perhaps explaining why he didn’t end up in New York (Twitter link). He’ll make about $16MM this coming season on a max deal, though it’s not immediately clear how long the contract, which can’t become official until the July Moratorium ends next week, will run.
Milwaukee has reportedly been keen on signing a marquee center, having eyed Tyson Chandler and Brook Lopez, among others, and Monroe, No. 7 on our Free Agent Power Rankings from last month, fits the bill. The Bucks will have to sign him using cap room, meaning his deal will almost certainly become official before Khris Middleton’s reported five-year, $70MM pact does, since Middleton’s cap hold will balloon from $2.725MM to eight figures once he signs.
It’s no surprise that Monroe is leaving the Pistons, as even though Falk and Monroe insisted that Detroit had a shot to keep him, with Monroe going so far as to say the Pistons had the “upper hand” at one point, it seemed a strong bet that he’d leave ever since he signed his qualifying offer from the Pistons last year. The Pistons reportedly offered less than the max when Monroe was a restricted free agent in 2014, so it appears his gamble paid off. I thought he’d at least come close to the max when I examined his free agent stock this past spring.
Nets Sign Shane Larkin
JULY 9TH, 12:26pm: The deal is official, the Nets announced via press release.
JULY 2ND, 1:59pm: The Nets and Shane Larkin have agreed to a two-year, $3MM deal, reports Adrian Wojnarowski of Yahoo! Sports (on Twitter). It’ll include a player option on the second season, Wojnarowski writes in a full story. Brooklyn will use part of its $3.376MM taxpayer’s mid-level exception on the guard who played this past season with the crosstown Knicks.
Larkin confirmed the deal to Alex Kennedy of Basketball Insiders (Twitter link). The guard wasn’t expected to return to the Knicks, as Newsday’s Al Iannazzone notes (on Twitter). New York declined its team option for 2015/16 on Larkin’s rookie scale contract this past fall, so the most the Knicks could have paid him next season on a new deal was the value of that option, slightly more than $1.675MM. Other teams were free to pay him more, but the Nets don’t appear to have exceeded that amount.
The Relativity Sports client was the 18th overall pick just two years ago, but he saw little playing time for as a rookie for the Mavs, who traded him to New York in the Tyson Chandler deal. Larkin started 22 games for the Knicks last year, but nonetheless moves on. He passed up more money from one of the three of four teams with interest, but goes into a Brooklyn backcourt already well-stocked with point guards, as Mike Mazzeo of ESPNNewYork.com writes on Twitter.