Hawks Sign Paul Millsap To Two-Year Deal
JULY 10TH: The Hawks have officially signed Millsap, the team announced today in a press release.
JULY 5TH: The Hawks have agreed to a deal with power forward Paul Millsap, tweets Chris Vivlamore of the Atlanta Journal-Constitution. It's a two-year deal, Vivlamore adds via Twitter. Alex Kennedy of HoopsWorld first reported the two sides were in serious discussions. The pact will total $19MM, according to Bill Oram of The Salt Lake Tribune (Twitter link).
Millsap, a client of agent DeAngelo Simmons, gets a slight bump from his $8.6MM salary this past season, and presumably will be playing power forward next to Al Horford in Atlanta. Horford is one of just three returning Hawks players who entered the summer with guaranteed contracts, though Atlanta re-signed Kyle Korver earlier this week. The Hawks, armed with plenty of cap space, figure to be active now that Dwight Howard is heading to Houston instead of his hometown, and the team has already been linked to a possible sign-and-trade involving Josh Smith and Omer Asik.
The Jazz renounced their rights to Millsap earlier today after absorbing the expiring contracts of Richard Jefferson, Andris Biedrins and Brandon Rush. That rendered Utah unable to make a competitive bid to retain Millsap, since the Jazz are up against the cap.
Clippers Re-Sign Chris Paul
JULY 10TH: The Clippers didn't waste any time once the moratorium ended, officially announcing Paul's new deal on the team's website.
JULY 1ST: Chris Paul took to Twitter to announce his return to the Clippers this morning, adding confirmation to news that's been expected for some time. His representatives had begun telling other teams this weekend not to bother making a pitch to him, since he had already committed to the Clips.
Agent Leon Rose confirms to Ramona Shelburne of ESPNLosAngeles.com that Paul has verbally agreed to a five-year, $107MM deal, with the ability to opt out after four seasons (Twitter links). Presumably, that means Paul is getting the maximum salary, as our Luke Adams projected Paul would be in line for $107MM when he looked at maximum scenarios this spring. That number, like the deal itself, won't become official until the July Moratorium is over next week.
With Blake Griffin's extension set to kick in this coming season and Doc Rivers coming aboard this summer, the Clippers employ the league's highest paid coach and have committed more than $200MM to a pair of stars, as Arash Markazi of ESPNLosAngeles.com points out via Twitter. The deals for both Griffin and Paul will run through 2018, though Griffin, too, can opt out after 2016/17. Griffin has an early-termination option for 2017/18, and I'd imagine Paul's opt-out clause is in the form of an early-termination option, too.
Paul didn't speak to any other teams after free agency began late last night, notes Broderick Turner of the Los Angeles Times, and if he had, it would have been surprising. The hiring of Rivers as coach and primary front office decision-maker appeared to clinch the deal for Paul, whom other teams, like the Mavericks, Rockets and Hawks, had hoped could be lured away.
Paul and Dwight Howard had been considered the top two free agents on the market, and CP3 was far and away the best point guard available. Teams looking for a free agent option who can run their offense must turn to a crop headlined by Jose Calderon, Brandon Jennings and Jeff Teague. The Clippers have been rumored to be pursuing Howard in a sign-and-trade, but that appears to be a longshot.
Cavs Notes: Clark, FA Targets, Korver, Dunleavy
The Cavaliers made a couple of moves this week, agreeing to terms with Earl Clark and Jarrett Jack, as our Free Agent Tracker Shows. They still figure to have close to $15MM in cap space remaining, so they're not done yet. Terry Pluto of the Plain Dealer, amid his look across the spectrum of Cleveland sports, passes along news on the Cavs' summer so far and what might be next, as we detail here:
- Pluto has the value of Clark's deal at $8.5MM, slightly smaller than the $9MM total that Sean Deveney of The Sporting News originally reported.
- The Cavs are in the hunt for a swingman who can shoot and a true center, according to Pluto. They were considering Kyle Korver before he agreed to re-sign with the Hawks, Pluto adds.
- Pluto also confirms Marc Stein's ESPN report that Marco Belinelli passed up more money from the Cavs to go to the Spurs, and says that Mike Dunleavy did the same when he agreed to head to the Bulls.
- Fellow Plain Dealer scribe Mary Schmitt Boyer answers reader questions in her mailbag column, and she touches on the notion of LeBron James returning to the Cavs.
Rockets Aggressively Shopping Jeremy Lin
A source tells HoopsWorld's Bill Ingram that the Rockets are working hard to move Jeremy Lin, but Houston is finding little interest in the point guard (Twitter link). The Rockets' pursuit of a deal comes in spite of GM Daryl Morey's insistence this week that he's not looking to move Lin and Omer Asik, and a more recent report from Ken Berger of CBSSports.com indicating the team was open to keeping them both.
Luke Adams of Hoops Rumors surmised that Morey's comments might simply have been an attempt to boost the value of Lin and Asik while easing possible tensions should the two remain on the roster into next season. Asik doesn't seem placated, as Berger heard Friday that the center wants out of Houston and isn't interested in playing on the same team as Dwight Howard. It appeared Lin and Asik might have been at the center of a trade proposal to the Hawks for Josh Smith, but there were conflicting reports, and Smith ultimately wound up agreeing to sign with the Pistons.
The cap hit for Lin will be $8,374,646 in 2013/14, and an identical amount in 2014/15. Asik has the same deal, as both came to the Rockets via offer sheets last summer. Since Houston wrangled the pair from their former teams using the Gilbert Arenas Provision, their payment schedule doesn't align with their cap hits. Both will be paid slightly more than $5MM this coming season, with balloon payments of more than $10MM set for 2014/15. That could be one reason why teams are reluctant to take on Lin.
Lin and Asik likely represent the most attractive package the Rockets could offer in pursuit of a third star to go with Howard and James Harden, unless they want to throw in Chandler Parsons.
Stretch Provision
The Mavericks centered their 2012 offseason strategy on one-year contracts, but owner Mark Cuban has said that won't be the case for 2013. Instead, Cuban pointed to the stretch provision as a tool that will prompt the team to sign free agents to long-term contracts, even if the plan isn't for those players to stick around until the end of their deals.
The stretch provision allows teams to spread the cap hit for a waived player out over several years. Under the previous collective barganing agreement, teams and players could agree to restructure the payment schedule for any money that remained on their contracts when they parted ways. If a team waived a player with two years and a total of $4MM left on his contract, the club might have a hard time convincing the player to agree to spread the payments out over a longer period of time. The player might take less total money if a significant chunk were handed out up front, but that would still leave a team with a heavy cap hit for a player it no longer had on the roster.
The current CBA solves that dilemma for teams. The post-waiver payment schedule is locked in for players who signed deals after the lockout. If a team waives a player in July or August, the team pays his remaining salary over twice the number of seasons left on the deal, plus one. So, for that player who's waived with two years and $4MM left on his deal, the team would pay him $800K each year for five years.
If a team waives a player in any other month, the team pays the salary for the current season as usual, then spreads out the remaining salary over twice the number of seasons left on the deal, plus one. So, if that same player with a two-year deal worth a total of $4MM wasn't waived until September, the team would be stuck paying him $2MM for the coming season, but the remaining $2MM would be spread out in equal payments of $667K over the following three years. This could make August 31st a key date in NBA offseasons going forward, as teams face decisions about the better method of paying off players they intend to let go.
Cuban spoke about signing free agents to four-year contracts, which would allow the payment, and the cap hit that goes with it, to be stretched over as many as nine years (though unless the team signs a player and waives him the same summer, the payment could only stretch across a total of eight years). If the Mavs were to waive Jose Calderon next summer, a year after they came to terms on to a four-year, $29MM deal, he'd only tie up about $3.1MM of next year's cap. That way, the Mavs could clear room to pursue one of the marquee summer of 2014 free agents. The danger would be in having money that lingers on the books for several years. That could add up if Cuban continues to pursue this strategy.
While the stretch provision regulates when money is paid out, it doesn't prevent teams and players from negotiating a reduced salary as part of a buyout. Non-guaranteed money isn't subject to the stretch provision either, since a team isn't obligated to pay any non-guaranteed portion of a contract once it waives a player. If another team claims a player off waivers, it inherits his contract, including the non-guaranteed portion, and his former team doesn't owe him anything.
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.
Russian Team Wooing Timofey Mozgov
10:09am: Mozgov wants to continue playing in the NBA, his European agent, Stanislav Ryzhov, tells Championat (translation via Sportando). Ryzhov confirmed that the Russian club has made its offer.
8:43am: The Nuggets and center Timofey Mozgov have been in talks on a multiyear deal, and while no other NBA suitors appear to have emerged this week, Mozgov has drawn an overseas offer. Lokomotiv Kuban, a team in Mozgov's native Russia, has made a four-year offer to the 7'1" center, club president Andrey Vedischev confirms to the Russian news outlet Championat (translation via Sportando).
Locomotiv will step up to play in the Euroleague for the first time next season, as Sportando's Emiliano Carchia notes, so prying Mozgov away from the NBA would be a well-timed coup for the team. It could be an expensive proposition, since at worst Mozgov could sign his one-year, $3,925,536 qualifying offer from the Nuggets. I'd imagine he and the Nuggets are discussing a deal that includes more guaranteed money than that, though that's just my speculation.
Mozgov is a restricted free agent and the Nuggets have his full Bird rights, so the Nuggets can match any offer he receives from another NBA team, but that privilege does not cover offers from outside the league. The Knicks, Wolves, Bobcats and Heat have all shown interest in Mozgov over the past few months, but none appear to have made an offer since free agency began a week ago.
The Nuggets figure to envision a larger role for the Justin Zanik client this season after trading Kosta Koufos on draft night. If Mozgov re-signs, he'd probably be the backup to JaVale McGee. Zaza Pachulia's three-year, $16MM agreement with the Bucks last night may have set the price for a top-of-the-line backup center.
Magic Sign Victor Oladipo
The Magic have signed No. 2 overall pick Victor Oladipo, the team announced via press release. His rookie-scale figure is close to $4MM, so he’s likely to receive a first-year salary equal to 120% of the scale amount, like most first-round picks. That would give him slightly more than $4.76MM, as our salary chart for this year’s first-rounders shows.
The signing of first-round picks is one of the few transactions allowed during the July Moratorium, so the move is official. Oladipo gives the Magic a high-energy defender with a rapidly improving offensive game. When I examined his potential this spring, I figured Oladipo would continue his rise on draft boards around the league, and he wound up just one pick shy of the top spot.
He was a full-time starter for just one season in high school and two at Indiana University, but the 21-year-old wound up eclipsing fellow shooting guard prospect Ben McLemore in the eyes of the Magic, who have appeared ready to deal Arron Afflalo to clear a space in the lineup for Oladipo.
Latest On Monta Ellis, Andrew Bynum
Top-tier free agents are going fast, leaving Monta Ellis and Andrew Bynum among the best options remaining on the list of available players. Marc Stein of ESPN.com has the latest on teams in line for them:
- Ellis is the top target for the Hawks, according to Stein, who figures the team could make an offer with a starting salary around $10MM based on its available cap space. GM Danny Ferry and company have also given thought to signing Andrew Bynum.
- Bynum is the primary focus for the Mavs, Stein reports, adding that Dallas doesn't appear to have enough cap space left to make a competitive bid on Ellis, whom they've also been eyeing.
- The Nuggets also covet Ellis, Stein observes, and that's fueling the team's desire to trade Andre Miller.
- If Ellis hasn't signed elsewhere by the time the July Moratorium is over on Wednesday, Stein says the Bucks would have to renounce his rights to clear enough room to officially bring aboard free agents O.J. Mayo and Zaza Pachulia, with whom they have agreements.
Blazers Waive Sasha Pavlovic
The Blazers have waived Sasha Pavlovic, the team announced via Twitter. Pavlovic's deal extended through 2014/15, but both years left on it were non-guaranteed, meaning Portland doesn't owe him any more money after paying him $1,232,713 this past season. Pavlovic was acquired last summer as part of a three-team sign-and-trade arrangement, and he seemed to be included in the deal simply to make the salaries match. Since players who are signed-and-traded must be given three-year deals, that's what Pavlovic got, but the lack of guaranteed money allows the Blazers to part ways with him now.
The Dan Fegan client will hit the free agent market, unless another team puts in a claim for him, which would be unlikely. He was in and out of Portland's rotation this past season, averaging 2.6 points in 13.5 minutes per game. With the team's acquisition of C.J. McCollum at the draft and its agreement today to sign Dorell Wright, the Blazers added depth at the wing positions, likely eliminating any need to keep Pavlovic around.
Pavlovic was set to earn close to $1.4MM this season and nearly $1.5MM in 2014/15, so his release figures to give the Blazers a little more wiggle room under the cap. Still, it'll be a tight squeeze if they want to sign anyone else, given their trades for Robin Lopez and Thomas Robinson. Portland's best weapon left might be its $2.65MM room exception.
Free Agent Rumors: Bynum, Teague, Kirilenko
Free agents continue to reach deals with teams across the NBA in advance of Wednesday, when agreements can become official. Here's the latest on the moves that could be next:
- The Mavs were in contact with Andrew Bynum even before Dwight Howard turned them down, and Stein tweets that Dallas is indeed pursuing the oft-injured Bynum now that Howard is out of the picture. Still, the Mavs will make a detailed and careful evaluation of the big man's health before reaching an agreement, according to Stein.
- Jeff Teague's camp is becoming increasingly frustrated with the Hawks, who have yet to engage in meaningful negotiations on a new deal, reports Marc J. Spears of Yahoo! Sports (Twitter links). The point guard is a restricted free agent, so Atlanta controls his destiny.
- The Kings aren't considering Andrei Kirilenko, tweets Jason Jones of The Sacramento Bee.
- The Knicks remain in play for Elton Brand, as do other teams, but a decision could come this weekend, a source tells Jared Zwerling of ESPNNewYork.com (Twitter link).
- The Jazz and Grizzlies also made offers to Dorell Wright, who wound up agreeing to join the Blazers instead, tweets Chris Haynes of CSNNW.com. The Thunder also made an offer, as previously reported, Haynes notes.
- Decision makers within the Blazers front office have led The Oregonian's Joe Freeman to expect that the team won't re-sign Elliot Williams (Twitter link).
- Joe Dumars, fresh off his agreement to sign Josh Smith, has his sights on a perimeter sharpshooter for the Pistons, according to Sam Amico of Fox Sports Ohio (on Twitter). Keith Langlois of Pistons.com agrees, and hints that the team could hit the trade market as well (Twitter link).