Celtics Re-Sign Drew Peterson To Two-Way Contract
The Celtics have re-signed forward Drew Peterson to a two-way contract, per NBA.com’s transaction log.
Peterson, 24, went undrafted in 2023 after spending two seasons at Rice and three at USC. He signed an Exhibit 10 contract with Miami and began the season in the fall with the Sioux Falls Skyforce, the Heat’s G League affiliate, before signing a two-way deal with Boston in December.
Although Peterson remained under contract with the Celtics for the rest of the season, he appeared in just three games at the NBA level, spending most of the year in Maine with Boston’s NBAGL team. In 51 total games for Sioux Falls and Maine, he averaged 15.5 points, 6.6 rebounds, and 5.1 assists in 34.3 minutes per contest, posting a shooting line of .474/.373/.836.
Peterson was among the players to receive a two-way qualifying offer ahead of Saturday’s deadline, making him a restricted free agent. He likely simply accepted that qualifying offer – equivalent to another one-year, two-way contract – rather than negotiating a new deal.
With Peterson back on the roster, the Celtics are poised to bring back at least 14 of the 17 players who finished the season on the 18-man roster. Only Oshae Brissett, Svi Mykhailiuk, and JD Davison are unsigned.
Timberwolves Sign Joe Ingles To One-Year Contract
JULY 6: The Timberwolves officially confirmed in a press release that they’ve signed Ingles.
JULY 3: Free agent forward Joe Ingles has an agreement in place with the Timberwolves on a one-year contract, reports Adrian Wojnarowski of ESPN (Twitter link).
While Wojnarowski doesn’t specify the financial details, Minnesota’s position relative to the second tax apron means the team an only offer the veteran’s minimum, so it’ll be a one-year, minimum-salary deal for Ingles.
Ingles spent last season in Orlando following eight years in Utah and one in Milwaukee. He averaged 4.4 points, 3.0 assists, and 2.1 rebounds in 17.2 minutes per game across 68 appearances off the bench for the Magic in 2023/24, becoming an unrestricted free agent after the club declined his $11MM option on Saturday.
Ingles, who will turn 37 before opening night, is unlikely to play big minutes in Minnesota, but he brings value as a shooter (.410 career 3PT%), a secondary ball-handler and play-maker, and as a veteran leader who has the size to defend forwards and bigger wings.
That skill set made Ingles a top target for Tim Connelly and the front office with the team set to lose Kyle Anderson in free agency, tweets Jon Krawczynski of The Athletic. Moving to Minnesota will give Ingles the opportunity to reunite with Mike Conley and Rudy Gobert, his former teammates with the Jazz.
A minimum-salary contract will pay Ingles a salary of $3,303,771 in 2024/25 while the Wolves take on a cap hit of $2,087,519.
FA/Trade Rumors: Sixers, Heat, DeRozan, Warriors, Markkanen, Lakers, More
Signs are pointing toward Paul Reed being traded or waived rather than returning to the Sixers, according to Keith Pompey of The Philadelphia Inquirer, who notes that waiving Reed or using his pseudo-expiring $7.7MM contract as a trade chip would allow the team to maximize its cap room. Pompey adds that Philadelphia has had discussions with free agent forward Haywood Highsmith, while Barry Jackson of The Miami Herald tweets that the 76ers have also “poked around” on Caleb Martin.
Although the Heat remain in the mix for both of their free agents and could technically make Martin and Highsmith big offers, they’ve told people they don’t intend to surpass the second tax apron due to the roster-building restrictions that second-apron teams face, says Jackson (Twitter link). That limits Miami’s ability to make a competitive offer to either player.
Despite the Heat’s financial restrictions, Jovan Buha of The Athletic has heard from league sources that Miami is viewed as the “slight” favorite to land DeMar DeRozan. The team doesn’t have the spending flexibility to make it work without additional moves, but DeRozan likes the idea of playing for the Heat and the two sides have remained in touch, tweets Jackson.
Here are a few more rumors and notes related to the trade and free agent markets:
- The Warriors and Spurs are considered the most serious suitors for Jazz forward Lauri Markkanen, according to Chris Haynes of Bleacher Report (video link), who says Golden State has been the most aggressive team in its pursuit of Markkanen.
- Appearing on SportsCenter on ESPN (Twitter video link), Adrian Wojnarowski said the Lakers aren’t interested in using their tradable draft picks just to move off contracts, but would be open to including draft assets for a quality player. However, they’re not pursuing a deal for a high-salary impact player, since they’re skeptical the three-star model is feasible under the new CBA, Wojnarowski explains.
- While a report on Monday suggested the Nets are open to reuniting with Lakers guard D’Angelo Russell, sources tell Brian Lewis of The New York Post that’s not expected to happen.
- In an appearance on Sactown Sports 1140 (YouTube link), Sam Amick of The Athletic said that he’s skeptical the Kings will land Markkanen or Pelicans forward Brandon Ingram, noting that Sacramento still appears to be taking a hard line in its desire to keep Keegan Murray off the table in trade talks. “I don’t know how long the list of guys is that they would give Keegan up for, but it’s not anybody currently available on the market,” Amick said.
Kemba Walker Returns To Hornets In Coaching Role
The Hornets have officially announced Charles Lee‘s staff for the new head coach’s first season in Charlotte, and the group includes one particularly notable name. According to a press release, former Hornets star Kemba Walker has been hired as a player enhancement coach.
Walker officially announced his retirement as a player on Tuesday and wasted no time transitioning into the next stage of his career. He hinted in Tuesday’s announcement that a new job in the NBA might be coming, writing, “Basketball will forever be a part of my life so this isn’t goodbye. I’m excited for what’s next.”
The ninth overall pick in the 2011 draft, Walker became the Hornets’ full-time starting point guard in his second NBA season and maintained that role through the 2018/19 campaign. He earned three All-Star berths and averaged 19.8 points, 5.5 assists, and 3.8 rebounds in 34.1 minutes per game across 605 total regular season games during his time in Charlotte before leaving for Boston in a sign-and-trade in 2019.
Lee is a former Celtics assistant, but his time in Boston didn’t overlap with Walker’s.
Most of the rest of Lee’s staff has been previously reported. It includes assistant coaches Lamar Skeeter, Josh Longstaff, Chris Jent, Blaine Mueller, Ryan Frazier, Matt Hill, and Jermaine Bucknor, the Hornets confirmed.
Zach Peterson has been hired as an assistant coach and director of player development, while Zeke Chapman has been named head video coordinator.
Monte Morris Signs With Suns
JULY 3: Morris’ one-year, minimum-salary contract is now official, according to NBA.com’s transaction log.
JULY 2: Free agent point guard Monte Morris intends to sign a contract with the Suns, according to Shams Charania of The Athletic (Twitter link). John Gambadoro of Arizona Sports 98.7 had reported (via Twitter) earlier today that Morris appeared to be the club’s top option among free agent point guards.
Phoenix is limited to minimum-salary offers as a second-apron team, and Morris’ deal will be for one year, tweets Gerald Bourguet of PHNX Sports. It’s a nice get for the Suns, who had been in the market for a reliable option at the point.
Morris is coming off a down year in which he missed the first half due to a quad injury, changed teams in a midseason trade, and took some time to get back into game shape. He averaged just 5.0 points and 2.1 assists in 14.4 minutes per game across 33 total appearances with Detroit and Minnesota.
However, the 29-year-old has a solid NBA track record as both a backup and a starter. Across five seasons in Denver and Washington from 2018-23, he averaged 10.5 PPG, 4.0 APG, and 2.5 RPG with a shooting line of .480/.392/.829 in 339 games (166 starts; 25.8 MPG).
With three ball-dominant stars in Devin Booker, Bradley Beal, and Kevin Durant, the Suns didn’t really use a traditional point guard much in 2023/24, and I wouldn’t expect Morris to crack the team’s starting lineup. But having a veteran ball-handler who can help organize the offense should provide new head coach Mike Budenholzer with more options in his first year at the helm.
According to Jon Krawczynski of The Athletic (Twitter link), the Timberwolves had interest in re-signing Morris, but his return was considered a long shot after he didn’t have a role in the playoffs and the team acquired Rob Dillingham on draft night.
Wizards Re-Sign Tristan Vukcevic To Two-Way Deal
The Wizards have re-signed center Tristan Vukcevic on a two-way contract, according to NBA.com’s transaction log. Michael Scotto of HoopsHype confirmed the move (Twitter link).
Washington drafted Vukcevic with the 42nd pick in 2023, but he spent most of the season with KK Partizan in Serbia before joining the Wizards in March. He started four of the 10 games he played during his brief time in the NBA, averaging 8.5 points and 3.6 rebounds in 15.3 minutes per night.
The Wizards held a $2.42MM team option on Vukcevic for the 2024/25 season and could have issued him a qualifying offer to make him a restricted free agent after declining that option. However, neither move was necessary to bring him back on a more team-friendly contract.
While the Wizards traded away starting center Daniel Gafford at last season’s deadline, they should have no shortage of options at the five heading into 2024/25. The club drafted Alex Sarr with the No. 2 pick and agreed to a three-year deal with Jonas Valanciunas in free agency. Richaun Holmes and Marvin Bagley are among the other big men on the roster, though neither is owed guaranteed money beyond this season, so they could be trade candidates.
Given Washington’s depth up front and Vukcevic’s two-way contract that allows him to be transferred freely back and forth from the G League, he could end up seeing a good deal of action for the Capital City Go-Go.
Jaylon Tyson Signs Rookie Contract With Cavaliers
Former Cal wing Jaylon Tyson has signed his rookie scale contract with the Cavaliers, according to NBA.com’s transaction log.
Tyson, who spent his three college seasons at three different schools – Texas, Texas Tech, and Cal – had a breakout year in 2023/24 for the Golden Bears. He declared for the draft following a junior season in which he averaged 19.6 points, 6.8 rebounds, and 3.5 assists in 34.3 minutes per contest (31 games), with a shooting line of .509/.360/.796.
As the 20th overall pick in the 2024 draft, Tyson should be in line for a contract that pays him about $3.3MM in his rookie year and $16.1MM for four seasons, assuming his third- and fourth-year team options are picked up down the road.
[RELATED: Rookie Scale Salaries For 2024 NBA First-Round Picks]
With Tyson signed, the Cavaliers are now carrying 12 players on standard contracts, including 10 fully guaranteed salaries (Craig Porter has a partial guarantee, while Sam Merrill‘s salary is non-guaranteed).
Hornets Waive Marques Bolden
The Hornets have waived center Marques Bolden, the team announced today (via Twitter). He had been occupying one of the team’s two-way slots.
An undrafted free agent in 2019 out of Duke, Bolden has bounced back and forth between the NBA and the G League over the past five years. In 2023/24, he began the season on a two-way contract with the Bucks. After being waived by Milwaukee, he signed a 10-day contract with the Hornets, then stayed with Charlotte on a two-year, two-way deal.
Bolden appeared in just 11 games at the NBA level last season, averaging 3.4 points and 3.1 rebounds in 11.0 minutes per night. In 31 G League games for the Bucks’ and Hornets’ affiliates, the 26-year-old put up 12.6 PPG, 7.6 RPG, and 1.6 BPG in 24.6 MPG with a solid shooting line of .548/.429/.769.
Bolden was listed on the Summer League roster recently announced by the Warriors (Twitter link), so this move had been anticipated. The Hornets now have a pair of open two-way slots, with Leaky Black filling the third.
Lakers’ Bronny James Signs Standard Contract
JULY 3: James has officially signed a four-year contract with the Lakers, Charania confirms (via Twitter). According to Charania, it’s a $7.9MM deal, which means it’s almost certainly worth the rookie minimum — a four-year, minimum-salary deal for a rookie would work out to $7,895,796.
According to Michael Scotto of HoopsHype (Twitter link), the first two years will be guaranteed, with a partial guarantee of $1.3MM in year three. The fourth year is a team option.
JULY 2: No. 55 overall pick Bronny James will sign a standard contract with the Lakers that includes multiple guaranteed seasons, sources tell Shams Charania of The Athletic.
[RELATED: Lakers Select Bronny James With No. 55 Pick]
This has been the expectation for James once it became clear that the Lakers were targeting him at No. 55 in last week’s draft. Reports ahead of the draft indicated that Rich Paul was focused on getting Bronny a guaranteed 15-man roster spot rather than a two-way contract, which the agent later confirmed on the record.
Additionally, as John Hollinger of The Athletic observes, it’s not uncommon for potential luxury tax teams to sign late second-round picks to standard contracts for money-saving purposes, since they only count for the rookie minimum (about $1.16MM this season) instead of the veteran’s minimum of $2.09MM.
The Lakers will almost certainly use the second-round pick exception to sign James to a contract that covers either three or four seasons. The deal will include a team option on the final year.
Bulls Sign Matas Buzelis To Rookie Contract
Rookie forward Matas Buzelis, the No. 11 pick in the 2024 draft, has signed his first NBA contract with the Bulls, according to NBA.com’s transaction log.
A 6’10” forward who played for the G League Ignite in 2023/24, Buzelis averaged 14.1 points, 6.6 rebounds, and 1.9 blocks in 31.0 minutes per game across 34 NBAGL outings. While there’s optimism among NBA evaluators about his ability to improve as a shooter, he made a modest 45.3% of his field goal attempts and 26.1% of his three-pointers for the Ignite.
Viewed as a possible top-five pick, Buzelis slipped out of the top 10 and will head to a Chicago team that’s in the midst of retooling its roster. The Bulls have already traded Alex Caruso for Josh Giddey, are prepared to lose DeMar DeRozan in free agency, and are looking to move Zach LaVine.
As our breakdown of this year’s rookie salaries shows, Buzelis will earn approximately $5.2MM in his first NBA season and nearly $24MM over the course of four years, assuming he signed for the maximum allowable 120% of the rookie scale (which virtually every first-rounder does). The third and fourth years of the deal will be team options.