Raptors Sign, Waive Kennedy Chandler
2:58pm: As expected, the Raptors have waived Chandler, according to Murphy (Twitter link).
12:33pm: The Raptors have signed former second-round pick Kennedy Chandler to an Exhibit 10 contract, tweets Blake Murphy of Sportsnet.ca.
A 6’0″ point guard, Chandler was selected 38th overall out of Tennessee in the 2022 draft and played for the Grizzlies as a rookie. However, he had a disappointing first season, averaging 2.2 points and 1.6 assists in 7.8 minutes per game across 36 outings while shooting just 42.2% from the floor (including 13.3% on three-pointers) and 46.2% from the free throw line.
Memphis waived Chandler in April 2023 even though he still had two fully guaranteed years left on his contract.
Chandler spent the 2023/24 season with the Long Island Nets in the G League, appearing in 49 total Showcase Cup and regular season contests for Brooklyn’s affiliate. He averaged 13.9 PPG, 5.1 APG, and 3.3 RPG with a shooting line of .477/.361/.758.
The Raptors have been signing and quickly waiving free agents in recent days in order to put them in line for Exhibit 10 bonuses worth up to $77.5K if they spend at least 60 days this season with the Raptors 905, Toronto’s NBAGL team. That may be the plan for Chandler too, though the 905 will have to acquire his returning rights from Long Island to make that happen.
Toronto, at least for now, once again has a full 21-man preseason roster.
Southwest Notes: Monroe, Pelicans, T. Allen, Klay, Mavs
Longtime NBA center Greg Monroe is joining the Pelicans‘ coaching staff in a player development role, according to Christian Clark of The New Orleans Times-Picayune.
The seventh overall pick in the 2010 draft, Monroe averaged 13.0 points and 8.2 rebounds per contest in 646 regular season games across 10 NBA seasons with the Pistons, Bucks, Suns, Celtics, Raptors, Sixers, Timberwolves, Wizards, and Jazz. He last played in the league during the 2021/22 season, when he spent time with four different teams from December to April. The 34-year-old has also competed in Germany, Russia, China, and Puerto Rico.
As Clark observes, Monroe is a native of Baton Rouge, Louisiana who attended high school in the New Orleans area and won Louisiana’s Mr. Basketball Award in 2007 and 2008 before playing college ball at Georgetown. Monroe told The Times-Picayune in 2023 that he was living in Metairie – which is where the Pelicans’ practice facility is located – when he wasn’t playing overseas.
Here’s more from around the Southwest:
- Word broke back in May that the Grizzlies would retire Tony Allen‘s No. 9 jersey during the 2024/25 season. Now there’s an official date for the ceremony. According to a press release from the team, Allen’s No. 9 will be retired on Saturday, March 15 after the Grizzlies’ game against Miami. The former defensive standout will be the third player in team history to have his jersey hung in the rafters, joining Zach Randolph (No. 50) and Marc Gasol (No. 33).
- Appearing on The TK Show with Tim Kawakami (Spotify link), Warriors head coach Steve Kerr said he believes Klay Thompson will benefit from a fresh start with the Mavericks, as Grant Afseth of The Dallas Hoops Journal relays. “We all wanted him to stay. I wanted Klay to be a Warrior for life, it felt like the right thing. (But) you never really know what the right thing is for someone else, only that person knows,” Kerr said. “And I think by the end of the year, I think Klay knew for his own sake that he wanted to leave. … I’m happy for him, I think this will be a great move. He’s going to play for a great team, two high-level creators, he should get a lot of open shots. I think sometimes a career change, a late-career change can refresh and recharge you.”
- Although the addition of Thompson might increase the Mavericks‘ ceiling in 2024/25, repeating as Western Conference champions won’t be an easy feat, according to Eddie Sefko of Mavs.com, who looks at some of the challenges standing in the way of another trip to the NBA Finals for Dallas.
Rockets Notes: Fertitta, Adams, Griffin, Sengun, Green
The Rockets endured a miserable stretch from 2020-23, when they won just 59 total games across three seasons, but they bounced back to .500 in 2023/24 and appear to be on the upswing. Speaking to reporters on Tuesday, team owner Tilman Fertitta expressed optimism about what the future holds, though he knows that more patience will be required, as Jonathan Feigen relays in a subscriber-only Houston Chronicle story.
“Last night I was (viewing) our roster,” Fertitta said. “Our 14th player, whoever that is, would be in the continuous rotation of any team out there. There is no deeper team in the NBA than us. But we’re still very young. As we watch all the greats that played the game, you’re not great until your third, fourth, fifth, sixth, seventh year. I don’t think Michael Jordan won his first championship until his seventh year.”
Fertitta made his comments at the opening of the Rockets’ new practice facility alongside several current and former Houston players, including two-time Finals MVP Hakeem Olajuwon, who won a pair of titles with the franchise in the mid-1990s. Asked by the Rockets’ owner how long it took him to win his first NBA championship, Olajuwon acknowledged that it happened in year 10.
“We don’t want to wait that long,” Fertitta said. “We plan on winning more than one or two. The point is we’re very young. There’s high expectations. But to be great, we have to get a little older. We’re expecting a great year.”
Here’s more on the Rockets:
- According to Feigen, Fertitta admitted that bottoming out and going through a multiyear rebuild wasn’t easy for him and that he frequently considered the idea of accelerating that process. However, his son Patrick and general manager Rafael Stone convinced him to stick with the plan. “Patrick and Raf came to me and said, ‘We can go to NBA purgatory, which is seed seven, eight or nine with no shot of even getting to the second round, or we can do this the right way,'” Fertitta said. “You look at the seven (drafted) guys we have from the last three years, it’s unbelievable, mixed in with some great veterans. We decided to do something that’s going to pay off for the next 12 years.”
- Every Rockets player worked out or scrimmaged at the team’s new practice facility either last week or this week (or both), per Feigen, who notes that that group includes center Steven Adams. After missing all of 2023/24 due to knee surgery, Adams has been cleared to fully participate in scrimmages and looked “outstanding” in last week’s games, a source tells The Houston Chronicle.
- Keith Smith of Spotrac (Twitter link) clarifies that AJ Griffin gave up all but $250K of his salary for 2024/25 in his buyout agreement with the Rockets, reducing his $3,889,920 cap hit by more than $3.6MM. Feigen had previously mentioned that $250K figure, but didn’t specify whether Griffin surrendered that amount or surrendered all but that amount — we now know it’s the latter. Those savings will create additional spending flexibility for the Rockets, who are now operating below the luxury tax line by over $10MM.
- Although Alperen Sengun and Jalen Green both displayed star potential during the 2023/24 season, they rarely excelled at the same time, with Green’s best stretch of the season coming in the second half when Sengun was injured. In a separate story for The Houston Chronicle, Feigen explores why the two former first-round picks may not have been at their best together and what it would take for that to change in 2024/25.
Kings Signing Justin Powell To Exhibit 10 Contract
The Kings have reached an agreement with free agent shooting guard Justin Powell on an Exhibit 10 contract, agent George S. Langberg tells Michael Scotto of HoopsHype (Twitter link).
Powell, who went undrafted out of Washington State in 2023, signed an Exhibit 10 deal with the Cavaliers last September and was with the team for training camp and the preseason before being waived and joining the Cleveland Charge as a G League affiliate player.
In 44 Showcase Cup and regular season games for the Charge as a rookie, Powell averaged 6.7 points, 3.2 rebounds, and 1.5 assists in 23.9 minutes per game, posting a shooting line of .421/.368/.824.
Powell, 23, had his G League returning rights traded from the Charge to the Stockton Kings in a three-team deal earlier this month, so assuming he’s waived by Sacramento and then spends at least 60 days with Stockton, he’ll be eligible for an Exhibit 10 bonus worth up to $77.5K on top of his NBAGL salary.
The Kings currently have 19 players on their 21-man preseason roster, meaning no corresponding move will be necessary in order to make room for Powell.
Pre-Camp Roster Snapshot: Southwest Division
Hoops Rumors is in the process of taking a closer look at each NBA team’s current roster situation, evaluating which clubs still have some moves to make and which ones seem most prepared for training camp to begin.
This series is meant to provide a snapshot of each team’s roster at this time, so these articles won’t be updated in the coming weeks as more signings, trades, and/or cuts are made. You can follow our roster counts page to keep tabs on teams’ open spots as opening night nears.
We’re wrapping up our pre-camp Roster Snapshot series today with the Southwest Division. Let’s dive in…
Dallas Mavericks
- Players on guaranteed standard contracts: 14
- Players on non-guaranteed standard contracts: 2
- Players on Exhibit 10 contracts: 3
- Players on two-way contracts: 2
Although Morris’ salary isn’t guaranteed, I’d expect him to fill the 15th spot on the Mavericks‘ opening night roster. His non-guaranteed contract should give them some additional flexibility during the season — for instance, they could waive him ahead of the January 7 league-wide guarantee date, re-sign him to a couple 10-day contracts, then bring him back on a rest-of-season deal after February 6 once they know they won’t need that 15th roster spot for a trade acquisition.
With one two-way slot still available, the Mavs could hold a camp competition for that opening. In addition to their three Exhibit 10 players, Lawson would also be two-way-eligible, though he’d have to be waived and re-signed rather than directly converted.
Houston Rockets
- Players on guaranteed standard contracts: 14
- Players on Exhibit 10 contracts: 2
- Players on two-way contracts: 3
After buying out AJ Griffin, the Rockets have an open spot on their projected 15-man standard regular season roster. They’re well below the luxury tax line, so they’d have no issue carrying a 15th man on a minimum-salary contract (or even something more lucrative than that, if they so choose). Still, with so many players on the roster who have a case for rotation minutes, Houston may not be in a rush to fill that spot by adding someone who won’t play.
Even though the Rockets’ three two-way slots are currently occupied, I’d expect Hinton and/or Samuels to receive consideration for a two-way deal if they impress in camp. Houston also has room on their roster to bring two more players to camp.
Memphis Grizzlies
- Players on guaranteed standard contracts: 13
- Players on Exhibit 10 contracts: 4
- Players on two-way contracts: 2
The Grizzlies opened up a pair of standard roster spots within the last month by waiving Mamadi Diakite and Derrick Rose. Because they stretched Diakite’s partial guarantee and got Rose to agree to give up his full salary, they’re nearly $6MM below the luxury tax line, giving them more than enough breathing room to carry a full 15-man roster into the season if they want to.
I’d expect Memphis to peruse the free agent market for a 14th man, but it’s worth noting that Pippen – who played a rotation role for much of last season – is a strong candidate to be promoted from his two-way contract to the standard roster sooner or later. If that happens before the season, there would be an opening for one of the Grizzlies’ Exhibit 10 signees to have his contract converted to a two-way deal.
Like Houston, Memphis has enough room on its 21-man preseason roster to bring two more players to camp.
New Orleans Pelicans
- Players on guaranteed standard contracts: 13
- Players on non-guaranteed standard contracts: 1
- Players on Exhibit 10 contracts: 3
- Players on two-way contracts: 3
- Players who have reportedly reached contract agreements: 1
- Elfrid Payton (Exhibit 10?)
Alvarado is a lock to make the roster, and the Pelicans – who never pay the tax – are already hovering a little above the luxury tax line, so I’d bet on them leaving their 15th roster spot open to start the season in order to save some money.
The only wild card there could be if the team makes a preseason trade. I wouldn’t necessarily count on that, but New Orleans remains on the lookout for a starting-caliber center and Brandon Ingram‘s future with the team is still in question.
After signing and waiving Galen Robinson Jr. on Tuesday, the Pelicans have an open spot on their 21-man roster to finalize Payton’s deal, though they may rotate other players in and out of that spot before camp begins next week for G League/Exhibit 10 bonus purposes.
San Antonio Spurs
- Players on guaranteed standard contracts: 15
- Players on Exhibit 10 contracts: 4
- Players on two-way contracts: 2
- Players who have reportedly reached contract agreements: 2
- Nathan Mensah (Exhibit 10)
Barring a preseason trade, the Spurs‘ projected standard roster looks set with their current 15 players on guaranteed contracts.
It’s unclear whether there will be an open competition for the final two-way contract or if San Antonio has someone specific in mind for it. Boston would be a good candidate — he has over 100 games of NBA regular season experience on his résumé and has one more year of two-way eligibility left. Flynn, on the other hand, is ineligible for a two-way deal.
I’d expect the Spurs to cut Minix or Nelson at some point in the coming days to make room for Mensah, though it’s possible his Exhibit 10 deal won’t be completed until later in October.
Previously:
Cavaliers Sign Jacob Gilyard, Zhaire Smith
SEPTEMBER 25: Gilyard and Smith have each officially signed with the Cavs, per RealGM’s transaction log.
Having cut Tomlin and Osabuohien on Tuesday, Cleveland is back up to 21 players under contract, with Nance’s deal now official too.
SEPTEMBER 24: Free agent guards Jacob Gilyard and Zhaire Smith are signing Exhibit 10 contracts with the Cavaliers, reports Chris Fedor of Cleveland.com (subscription required).
Gilyard, 26, spent last season on two-way deals with the Grizzlies and Nets, appearing in a total of 41 games for the two teams. The 5’9″ point guard held his own in a rotation role for Memphis, averaging 4.7 points and 3.5 assists with a .425 3PT% in 17.7 minutes per game across 37 outings (14 starts).
However, two-way players can’t be active for more than 50 NBA games, so with Gilyard just about at that limit, the Grizzlies opted to waive him rather than promote him, putting him on track to finish the season in Brooklyn. He became an unrestricted free agent this summer after the Nets opted not to tender him a two-way qualifying offer.
As for Smith, the former No. 16 overall pick spent most of last season with the Cleveland Charge in the G League, briefly earning an NBA call-up on a 10-day contract with the Cavaliers in February. In 47 Showcase Cup and regular season games for the Cavs’ NBAGL affiliate, the 6’4″ guard averaged 13.3 points, 4.1 rebounds, and 1.8 assists in 33.0 minutes per contest, posting an impressive shooting line of .539/.394/.836.
Since Cleveland controls Smith’s G League returning rights and recently acquired Gilyard’s rights in a trade with the Memphis Hustle, the plan will likely be for both players to report back to the Charge this fall. Their Exhibit 10 contracts will make them eligible for bonuses worth up to $77.5K as long as they spend at least 60 days with the Cavs’ G League team.
According to Fedor, before they’re waived, Gilyard and Smith will get the opportunity to attend training camp with the Cavs along with fellow invitees Pete Nance and Jules Bernard. A report on Monday indicated that those two players, along with Nae’Qwan Tomlin and Gabe Osabuohien, had agreed to Exhibit 10 deals with Cleveland. Fedor confirms that reporting, but says Tomlin and Osabuohien are expected to be waived before camp begins.
The Cavs’ deals with Bernard, Tomlin, and Osabuohien are now official, per RealGM’s transaction log.
The Cavs are already carrying 14 players on standard contracts and three on two-way deals, so they’ll be at the 21-man limit once their back-of-the-roster transactions are complete.
Pelicans Sign Three Players To Camp Deals
The Pelicans have signed forward Keion Brooks Jr., guard Galen Robinson Jr., and guard Izaiah Brockington, the team announced in a press release. According to Christian Clark of NOLA.com (Twitter link), all three players received Exhibit 10 contracts.
Brooks went undrafted in June after a five-year college career that included three years at Kentucky and two at Washington. He averaged 21.1 points, 6.8 rebounds, and 1.4 assists per game in 32 starts for the Huskies in 2023/24, then played for the Pelicans’ Summer League team in Las Vegas in July.
Robinson is a G League veteran who played his college ball at Houston from 2015-19. While he has played in Germany, Mexico, and France since going pro five years ago, he has spent most of those five seasons in the NBAGL, including for the Birmingham Squadron, New Orleans’ G league affiliate, in 2023/24.
Brockington also played for the Squadron last season after missing nearly all of the 2022/23 campaign due to a torn ACL. His agreement with the Pelicans was previously reported.
All three players will likely end up with the Squadron to open the 2023/24 season. Signing Exhibit 10 contracts will entitle them to bonuses worth up to $77.5K if they’re waived by New Orleans and then spend at least 60 days with the Pelicans’ G League team.
The Pelicans now have a full 21-man preseason roster. Elfrid Payton is also reportedly signing a camp contract with the team, so someone will have to be waived before that deal can be officially completed.
NBA 2024 Offseason Check-In: Philadelphia 76ers
Hoops Rumors is checking in on the 2024 offseason for all 30 NBA teams, recapping the summer’s free agent signings, trades, draft picks, departures, and more. We’ll take a look at each team’s offseason moves and consider what might still be coming before the regular season begins. Today, we’re focusing on the Philadelphia 76ers.
Free agent signings
Paul George: Four years, maximum salary ($211,584,940). Includes fourth-year player option and 15% trade kicker. Signed using cap room.- Tyrese Maxey: Five years, maximum salary ($203,852,600). Re-signed using Bird rights.
- Caleb Martin: Four years, $35,040,704. Includes fourth-year player option, 15% trade kicker, and $5,256,106 in additional unlikely incentives. Signed using cap room.
- Kelly Oubre: Two years, $16,365,150. Includes second-year player option. Re-signed using room exception. Waived right to veto trade.
- KJ Martin: Two years, $16,000,000. Second year non-guaranteed. Re-signed using Bird rights.
- Andre Drummond: Two years, $10,000,000. Includes second-year player option. Signed using cap room.
- Eric Gordon: Two years, minimum salary ($6,772,731). Includes second-year player option. Signed using minimum salary exception.
- Reggie Jackson: One year, minimum salary. Signed using minimum salary exception.
- Kyle Lowry: One year, minimum salary. Re-signed using minimum salary exception.
- Guerschon Yabusele: One year, minimum salary. Signed using minimum salary exception.
- Jared Brownridge: One year, minimum salary. Non-guaranteed (Exhibit 10). Signed using minimum salary exception.
- Note: Brownridge was subsequently waived.
- Max Fiedler: One year, minimum salary. Non-guaranteed (Exhibit 10). Signed using minimum salary exception.
- Judah Mintz: One year, minimum salary. Non-guaranteed (Exhibit 10). Signed using minimum salary exception.
Trades
- Acquired the Mavericks’ 2031 second-round pick from the Mavericks in a six-team trade in exchange for Buddy Hield (sign-and-trade; to Warriors).
Draft picks
- 1-16: Jared McCain
- Signed to rookie scale contract (four years, $19,448,588).
- 2-41: Adem Bona
- Signed to four-year, minimum salary contract ($7,895,796). First year guaranteed. Second year partially guaranteed ($977,689). Third year non-guaranteed. Fourth-year team option.
Two-way signings
Departed/unsigned free agents
- Mohamed Bamba (Clippers)
- Nicolas Batum (Clippers)
- Robert Covington (unsigned)
- Tobias Harris (Pistons)
- Buddy Hield (Warriors)
- De’Anthony Melton (Warriors)
- Cameron Payne (Knicks)
- Terquavion Smith (unsigned)
Other moves
- Signed Joel Embiid to a three-year, maximum-salary veteran extension that begins in 2026/27. Projected value of $192,907,008. Includes third-year player option.
- Waived Paul Reed.
Salary cap situation
- Went below the cap to use room.
- Now operating over the cap ($140.6MM), over the luxury tax line ($170.8MM), and between the first tax apron ($178.1MM) and second tax apron ($188.9MM).
- Carrying approximately $181.5MM in salary.
- No hard cap.
- No form of mid-level or bi-annual exception available.
- No traded player exceptions available.
The offseason so far
It used to be relatively common for NBA teams to hoard cap room in the hopes of landing an All-NBA caliber player as a free agent. That’s famously how the Heat landed LeBron James and Chris Bosh in 2010. It’s how the Warriors were able to lure Kevin Durant to Golden State in 2016. And it’s how stars like Durant (Nets), Kyrie Irving (Nets), and Kawhi Leonard (Clippers) joined new teams in 2019.
Since 2019, however, with tweaks to the Collective Bargaining Agreement allowing veteran contract extensions to become more common than ever, it had become increasingly rare for star players to change teams as free agents. In recent years, players like Fred VanVleet (to the Rockets in 2023), pre-All-Star Jalen Brunson (Knicks in 2022), and post-prime Gordon Hayward (Hornets in 2020) were among the most prominent free agents to change teams via cap room.
All that is to say, when the Sixers decided during the 2023 offseason not to sign Tyrese Maxey to a rookie scale extension, telegraphing their intent to maximize their 2024 cap room in the hopes of landing a star, it was a risky play.
While the 76ers could offer a top free agent the opportunity to team up with Maxey and star center Joel Embiid in Philadelphia, they wouldn’t have the ability to outbid that star’s incumbent team for the right to sign him. It’s entirely possible that each of this year’s top six or seven free agents could have re-signed with their previous clubs, putting the Sixers in a position where they’d have to decide whether to splurge on a couple second-tier free agents like Kentavious Caldwell-Pope and Miles Bridges or perhaps target a high-priced trade candidate like Brandon Ingram or Zach LaVine.
Fortunately for the Sixers and their fans, it didn’t play out that way. While four of the top five free agents on our top-50 list (including Maxey) remained with their current teams, Philadelphia was able to secure a commitment from the fifth one – Paul George – after the forward’s negotiations with the Clippers soured.
Like Embiid, George hasn’t been a paragon of health during his prime seasons, having missed time in both the regular season and playoffs due to various injuries over the years, so it’s not as if the four-year, maximum-salary deal the Clippers gave him is risk-free.
But few players in the NBA would have been better fits alongside Maxey and Embiid than George, who is essentially the ideal version of the three-and-D archetype that has become so popular in the league in the last decade. He can handle the toughest wing assignments on defense while also sharing ball-handling and scoring responsibilities on offense with the 76ers’ two other stars.
Maxey’s willingness to wait on his new contract shouldn’t be overlooked or undersold. Keeping his modest $13MM cap hold on the books at the start of free agency instead of having him on the cap for $35MM+ put the Sixers in position to open up maximum-salary cap room for George. It all worked out for Maxey in the end, as he parlayed a Most Improved Player award in 2023/24 into a five-year, maximum-salary deal.
Would he have gotten that same contract if he had torn his ACL on opening night last fall and missed the entire season? Maybe, but it’s worth remembering that it wasn’t just the Sixers who took a risk by going the cap-space route — Maxey could have insisted on long-term security last summer, but by betting on himself and the team, he eventually got his max deal and a new All-Star running mate.
After signing George and Maxey to $200MM+ free agent contracts, the Sixers later extended Embiid on a maximum-salary deal that could pay him nearly $300MM over the next five seasons. Despite his injury history, it was presumably an easy decision for the front office, considering Embiid is a perennial MVP finalist if he’s healthy.
Having made such a huge investment in their three stars, the 76ers didn’t have a ton of flexibility to add complementary pieces around them, but they cleverly used every dollar of their leftover cap room to sign Caleb Martin and Andre Drummond, both of whom should play significant roles. Martin was a valuable two-way contributor in Miami in recent years, while Drummond has been one of the league’s best backup centers and is capable of stepping into the starting lineup if and when Embiid misses time.
Most of the rest of the Sixers signings – including Eric Gordon, Reggie Jackson, Kyle Lowry, Guerschon Yabusele, and second-round pick Adem Bona – were for the minimum. It’s unlikely that all of those players will become productive regular contributors, but the team did pretty well given its salary limitations.
Philadelphia also used its No. 16 overall pick to add rookie guard Jared McCain, its room exception to re-sign starting forward Kelly Oubre, and KJ Martin‘s Bird rights to re-sign him to a two-year, $16MM deal that’s only guaranteed for one season.
That price tag for Martin looks high on the surface, but it’s more about his value as a trade chip than what he’ll provide on the court. Outside of their three stars, no Sixers players are earning more than $8.15MM (Caleb Martin) in 2024/25, so having KJ Martin on a $7.98MM deal could make him a useful salary-matching piece in an in-season deal.
Up next
The Sixers are carrying 14 players on standard contracts, so they could add one more minimum-salary free agent to their roster before opening night if they don’t mind paying the accompanying tax penalty.
They’re approximately $4.6MM away from the second tax apron, but since they can’t take back more salary than they send out in a trade, they should be able to easily avoid surpassing that threshold during the season, even if they carry a 15th man.
It should be a fairly straightforward preseason in Philadelphia though, now that Embiid has signed his extension. Of the 14 players on standard deals, 13 have signed new contracts since July and the 14th (Ricky Council) is in the second year of his deal, so no one else is extension-eligible.
Grizzlies’ Derrick Rose Gave Up Full Salary
Veteran point guard Derrick Rose won’t receive any of his $3,356,271 salary for the 2024/25 season after being waived by the Grizzlies, reports Tim MacMahon of ESPN (Twitter link). According to MacMahon, the full amount will come off Memphis’ books, leaving the team with no cap hit for Rose.
It’s a little surprising that Rose – who will turn 36 next Friday and has been limited to 77 total games over the past three seasons due to injuries – would opt to forfeit a guaranteed $3.3MM+ salary. However, it was reported at the time of his release on Monday that the Grizzlies were letting him go at his request, so it makes sense that the team wasn’t prepared to grant that request and pay him his full salary.
Getting that $3.36MM off the books is important for the Grizzlies, given their proximity to the luxury tax line. Without a cap hit for Rose, Memphis is now approximately $5.98MM below the tax threshold with 13 players on standard contracts. Rose’s buyout will allow the club to carry a full 15-man roster without going into the tax — with his contract on the books, the Grizzlies would’ve gone into tax territory by signing two new players to minimum-salary deals.
That doesn’t mean the Grizzlies will definitely make two roster additions in the coming weeks, as carrying a 14-man standard roster into opening night in order to create some additional in-season flexibility remains an option for the team. However, that extra financial breathing room should come in handy sooner or later. It also gives Memphis the option of using a portion of its mid-level exception to offer more than the veteran’s minimum to a 14th man without going into the tax.
Rose is the second player in 2024/25 to give up his entire remaining salary as part of a buyout agreement. Sasha Vezenkov surrendered his $6.66MM salary with the Raptors in order to return to Europe on a lucrative long-term deal with Olympiacos.
Raptors Sign, Waive Quincy Guerrier
2:59pm: The Raptors have waived Guerrier, putting him on track to become an affiliate player for the Raptors 905, tweets Murphy. The team once again has an open spot on its 21-man preseason roster.
10:49am: Nearly three months after his agreement was initially reported, undrafted free agent forward Quincy Guerrier has officially signed an Exhibit 10 contract with the Raptors, tweets Blake Murphy of Sportsnet.ca.
Guerrier spent two years at Oregon and two more at Syracuse before finishing out his college career by playing for Illinois as a “super-senior” in 2023/24. In 38 games (all starts) for the Fighting Illini last season, he averaged 9.6 points and 6.1 rebounds in 24.1 minutes per game, posting a shooting line of .476/.374/.569.
After going undrafted in June, Guerrier quickly agreed to terms on a training camp contract with the Raptors and joined the club for the Las Vegas Summer League. He played a limited role in three games in Vegas, averaging 4.7 PPG and 4.7 RPG in 12.9 MPG.
In all likelihood, Toronto expects Guerrier to suit up this season for the Raptors 905, their G League affiliate. Assuming he’s waived before the NBA season tips off and then spends at least 60 days with the 905, his Exhibit 10 deal will entitle him to a bonus worth up to $77.5K on top of his standard NBAGL salary.
The Raptors now have a full 21-man roster, though there’s still plenty of time to continue making tweaks before training camp gets underway next Tuesday.