Fischer’s Latest: Markkanen, DeRozan, Hield, Hart, Suns, More
The Pelicans, Mavericks, Celtics, and Timberwolves are among the teams that have shown interest in Bulls restricted free agent Lauri Markkanen, according to Jake Fischer of Bleacher Report, who hears from sources that the price tag on the power forward would be about $15MM per year.
Landing Markkanen would be a challenge for any of those teams, however, as they’re all over the cap and would have to acquire the RFA forward via sign-and-trade. New Orleans has a traded player exception big enough to fit Markkanen, but the other teams would likely to have rely on salary-matching or offer him a lower salary (Dallas has a TPE worth $10.872MM, while Boston has one worth $9.72MM). Acquiring a player via sign-and-trade also results in a hard cap, which the Celtics are reportedly resisting.
On top of all that, Fischer confirms a previous report that the Bulls are seeking a first-round pick to accommodate a Markkanen sign-and-trade and don’t want to take on any salary, preferring any contracts to be rerouted to a third team. If they maintain that stance, the Bulls would make it very difficult for Markkanen to do anything but accept his $9MM qualifying offer.
“Chicago is playing this masterfully from no other perspective than a contract management standpoint,” a team capologist told Fischer. “It won’t do any favors relationship-wise, but they’re bleeding his market based on their tax situation, and nobody else can offer him any kind of money without them.”
As we wait to see what happens with Markkanen, it’s worth noting that the Hornets – previously rumored to be eyeing the forward – weren’t listed by Fischer as one of the teams in the hunt, and president of basketball operations Mitch Kupchak told reporters today that the team is likely done with its “heavy lifting” this offseason (Twitter link via Rod Boone of SI.com).
Here’s more from Fischer:
- The Sixers, Suns, Trail Blazers, Warriors, Celtics, and Knicks were among the teams that expressed interest in DeMar DeRozan before he reached a deal with the Bulls, per Fischer. However, New York agreed to sign Evan Fournier and most of the other teams would’ve had to figure out complicated sign-and-trade arrangements to accommodate DeRozan, who never really entertained the idea of signing for the mid-level exception, sources tell Fischer.
- The Pelicans and Kings discussed the possibility of swapping Buddy Hield and Josh Hart (via sign-and-trade) as part of New Orleans’ trade with Memphis, Fischer writes. It’s unclear if anything along those lines is still being considered now that the Pelicans’ deal with the Grizzlies has been completed — base year compensation rules would complicate a one-for-one swap.
- The Suns are weighing their options for their final open roster spot and have gauged the trade value of 2020 lottery pick Jalen Smith, sources tell Fischer.
- The Raptors will meet with Goran Dragic‘s camp at Summer League in Las Vegas to further discuss the point guard’s situation, according to Fischer.
- Zach LaVine has told Bulls staffers he’s committed to improving defensively next season, Fischer says.
Wizards Sign Isaiah Todd To Four-Year Deal
AUGUST 11: Todd’s deal is now official, according to NBA.com’s transactions log.
AUGUST 10: The Wizards have reached an agreement with No. 31 overall pick Isaiah Todd on a four-year contract, agents Wallace Prather and Steve Haney tell Shams Charania of The Athletic (Twitter link). According to Charania, Todd’s four-year deal will be worth $7MM and will include three guaranteed seasons.
As our chart of multiyear minimum-salary contract values shows, a four-year minimum deal for a rookie would be worth about $6.3MM, so it sounds like Todd’s first-year salary will be higher than the minimum. Washington will complete the signing using a portion of the team’s mid-level exception, which allows the club to offer up to four years.
[RELATED: 2021 NBA Draft Pick Signings]
Todd, 19, was one of the prospects who opted to join the G League Ignite for the 2020/21 season rather than playing for a college program or going overseas. While he was overshadowed to some extent by teammates Jalen Green and Jonathan Kuminga, Todd posted solid numbers in his first professional season, averaging 12.3 PPG and 4.9 RPG on .437/.362/.824 shooting in 25 games (24.4 MPG).
The 6’10” forward, who was the first player drafted in the second round, was technically selected by the Bucks on draft night on behalf of the Wizards. Milwaukee traded his rights to the Pacers, who subsequently flipped them to Washington in the five-team Russell Westbrook/Spencer Dinwiddie trade.
Grizzlies Sign Yves Pons
As expected, the Grizzlies have officially signed undrafted rookie free agent Yves Pons, the team announced today in a press release.
Pons – the 19th-best available undrafted rookie, according to ESPN’s list – is a 6’6″ wing who earned SEC Defensive Player of the Year honors in 2019/20. After becoming a full-time starter for Tennessee as a junior, Pons averaged 9.9 PPG and 5.3 RPG in 57 games (31.4 MPG).
Word broke shortly after the July 29 draft ended that Pons had reached a deal to join the Grizzlies. While terms of the agreement weren’t disclosed by the team, it’ll be an Exhibit 10 deal, per Chris Herrington of The Daily Memphian (Twitter link).
An Exhibit 10 contract can be converted a standard or two-way deal prior to the regular season if the Grizzlies want to keep Pons on their roster. If he’s cut, he’d be a candidate to end up with the Memphis Hustle, the Grizzlies’ G League team, as an affiliate player.
Celtics Have Made Offer To Dennis Schröder
The Celtics, who were reported last week to be in discussions with Dennis Schröder, have made a contract offer to the free agent point guard, league sources tell Jordan Schultz of ESPN (via Twitter).
According to Schultz, the Celtics’ offer to Schröder is a one-year deal worth the taxpayer mid-level exception (approximately $5.9MM). However, Schröder is seeking a second-year player option and a deal worth the full mid-level exception (about $9.5MM), per Schultz.
[RELATED: Values Of 2021/22 Mid-Level, Bi-Annual Exceptions]
Going above the taxpayer portion of the MLE would hard-cap the Celtics, which the team wants to avoid, Schultz notes. There have also been reports that Boston wants to create as much cap flexibility as possible in 2022, which may make the club reluctant to tack on a second-year player option for Schröder.
Despite the current impasse, there’s reason to believe the Celtics and Schröder could be a good match. Boston has been in the market for a new point guard after having traded Kemba Walker to Oklahoma City in June, and opportunities around the league are drying up for Schröder, who was viewed as one of the top point guards on the market entering free agency. A short-term deal that gives the Celtics another backcourt play-maker and scorer and gives the 27-year-old a chance to rebuild his value could benefit both sides.
According to Jake Fischer of Bleacher Report, the Celtics are exploring possible trades involving Kris Dunn and/or Bruno Fernando before “concluding” their conversations with Schröder. If Boston could shed salary in a deal involving Dunn and Fernando and create more breathing room below a potential hard cap, perhaps the team would be more willing to go above the taxpayer mid-level for Schröder.
Rockets First-Rounder Garuba Reaches Buyout Agreement With Real Madrid
Spanish big man Usman Garuba has reached a buyout agreement with Real Madrid that will allow him to get out of his contract with the Spanish club and join the Rockets for the 2021/22 season, according to a report from Jose Luis Martinez of Marca.com (hat tip to Sportando).
As we relayed last month, Garuba’s NBA buyout clause with Real Madrid was said to be worth three million Euros and would have become even more expensive in future years.
An NBA team can contribute to a player’s buyout with his international club, but only up to $775K (approximately €655K). That meant that if Garuba wanted to make the leap to the NBA right away after being selected with the No. 23 pick in the 2021 draft, most of the buyout would have to come out of his own pocket.
According to Martinez, Garuba and Real Madrid – who had the big man under contract through at least 2024 – agreed to a deal that will allow him to pay off the rest of his buyout in installments.
Garuba, 19, has been a member of Real Madrid since 2017 and was a regular part of the team’s rotation in 2020/21. He was named the ACB Best Young Player and also received the EuroLeague Rising Star award, then missed the 2021 draft because he was representing Spain at the Tokyo Olympics.
Assuming Garuba plays out his full rookie scale contract with the Rockets, he’ll ultimately come out ahead despite having to send a sizable chunk of his salary back to Real Madrid. As our breakdown shows, he projects to earn about $11.8MM over the course of the four-year NBA deal.
Once they officially sign Garuba, the Rockets will have all four of their first-round picks under contract. Jalen Green (No. 2), Alperen Sengun (No. 16), and Josh Christopher (No. 24) have already signed.
Goran Dragic Apologizes For Comments On Trade To Raptors
Veteran point guard Goran Dragic, who was traded from the Heat to the Raptors in the Kyle Lowry sign-and-trade deal last week, apologized on Monday for comments he made in his home country of Slovenia about the trade, writes Michael Grange of Sportsnet.ca.
A clip that surfaced on Twitter on Monday of Dragic speaking to Slovenian reporters was accompanied by the English caption, “Toronto is not my preferred destination. I have higher ambitions.” While there was some uncertainty about whether something may have been lost in translation, Dragic didn’t claim he was misquoted. He did tell Grange, however, that the context of the quote was missing.
“I was in the center of the city and the journalists were there and I was asked about Toronto and it was basically taken out of context,” Dragic said. “I told them that I had spent seven years in Miami and that would be the preferred destination for me because my family is there and everything, not Toronto.”
Dragic, who is on an expiring $19.5MM contract, was always expected to be part of the Raptors’ return for Lowry after the Heat picked up his team option, but there was speculation for much of last week that he might be flipped to a third team. The Mavericks were frequently mentioned as a potential destination, since Dallas had been on the lookout for a point guard in free agency and joining the Mavs would give Dragic the opportunity to team up with fellow Slovenian Luka Doncic.
It’s still possible Dragic will be moved to the Mavs or another team at some point, but no deal appears imminent, and he told Grange he’s prepared to spend the 2021/22 season in Toronto.
“My message basically, to all Toronto fans, is I would like to apologize,” Dragic said. “It didn’t come out the right way. I know they love their team, and they should be proud, it is one of the best organizations in the NBA. They’ve already won a championship and I didn’t, so what I said, it really was not appropriate.
“… I’ve always been professional. You can ask a bunch of people. Everywhere I’ve played, wherever I’m going to play, I’m going to be professional and do my job,” he continued. “I love basketball, I love to play and I’m going to give 100% wherever I play. Right now I’m (with) Toronto and that’s my main thing to think about.”
Asked during an appearance on 590 The Fan in Toronto about Dragic, Raptors general manager Bobby Webster cautioned that the 35-year-old’s comments were translated to English and he’d want to “get it directly” from the point guard to understand what he meant, Grange writes. Webster also stressed that the Raptors aren’t a rebuilding team looking to jettison veterans.
“We feel like we’re gonna be competitive, we have a core — as we’ve talked about — that’s been around for a while and has won at the highest level as well,” Webster said. “So think that we’ll just give it some time here to see how (Dragic) would fit in and if he likes it here or not. I think he’s a pro and he’s been around a lot and he’s obviously entitled to wanting to make the most of his years as his career comes down here … so I don’t think it’s in any way a slight or anything like that.”
The Lowry sign-and-trade was officially completed on Friday, so it can no longer be expanded to include a third team, but Dragic could be flipped to a new team immediately as long as his salary isn’t aggregated with another player’s in the deal.
Kings Notes: Holmes, Davis, O’Neal, McNair
When word of Richaun Holmes‘ new four-year contract agreement with the Kings first broke last week, his agency told Shams Charania of The Athletic that the deal was worth $55MM. That raised some eyebrows among cap experts, since that amount was significantly higher than what Sacramento could have realistically given Holmes using his Early Bird rights and the team didn’t have cap room available to get up to that number.
As it turns out, the $55MM figure was indeed a case of some very generous “rounding.” As Keith Smith of Spotrac confirms (via Twitter), the Kings gave Holmes the maximum they could using his Early Bird rights, which works out to about $46.52MM.
As we learned last week, the final year of the deal is a player option and it includes a 15% trade kicker. That trade bonus would increase Holmes’ earnings over the next four years if the Kings move him at some point, but even if they were to trade him as soon as he becomes eligible this season, he’d still fall short of $55MM.
Here’s more on the Kings:
- Terence Davis‘ new two-year, $8MM deal with the Kings has fully guaranteed cap hits of $4MM in each season, with no options, tweets Smith.
- Shaquille O’Neal has been named a brand ambassador for WynnBET and, as a result, will have to divest himself of his small ownership stake in the Kings, tweets Joe Pompliano of ReadHuddleUp.com. In his breakdown of the situation, James Ham of NBC Sports Bay Area says it’s possible O’Neal is part of the group of investors reported last month to be selling their 5% stake in the franchise to Dyal Capital.
- In case you missed it, a report this morning suggested that Kings GM Monte McNair may be feeling some pressure to make a major addition to the roster, with Ben Simmons and Pascal Siakam among the players on his radar.
Kemba Walker Gave Up $20MM In Thunder Buyout
Veteran point guard Kemba Walker gave up $20MM in his buyout agreement with the Thunder, according to Keith Smith of Spotrac (Twitter link). Bobby Marks of ESPN (Instagram video) first reported that Walker was giving back $20MM as part of that deal.
Walker’s cap hit with Oklahoma City will be reduced by $9,777,778 in 2021/22 and by $10,222,222 in 2022/23, per Smith. The 31-year-old guard had originally been set to earn $36,016,200 this season and $37,653,300 in ’22/23.
It’s a significant concession by Walker, whose new deal with the Knicks is reportedly to be worth approximately $8-9MM per year over two seasons. It’ll be interesting to see whether his new salaries match the amounts he gave up in the buyout, or if he ends up making a little less as a result of his decision to play for his hometown team.
The terms of the buyout also help explain why the Thunder were willing to move on from Walker now rather than trying to rebuild his value during the coming season and flip him for an asset down the road.
Walker, who was traded from Boston to Oklahoma City in June, was limited to 43 games for the Celtics in 2020/21 due to knee issues, but put up strong numbers in the games he played, averaging 19.3 PPG, 4.9 APG, and 4.0 RPG on .420/.360/.899 shooting in 31.8 minutes per contest.
Walker officially cleared waivers on Sunday, so his new deal with New York can be completed anytime. The Knicks haven’t yet announced any of their free agent signings — they’ll likely finalize them one after another at some point, whether that happens today or later in the week.
2021/22 NBA Contract Extension Tracker
A number of 2021 free agents, including John Collins, Jarrett Allen, and Chris Paul, did extremely well for themselves on the open market this fall. However the most lucrative contracts signed since the new league year began weren’t free agent deals at all — they were contract extensions.
Extensions, of course, don’t involve adding a new player to the roster. By extending a contract, a team ensures that a current player will remain locked up for multiple years to come. Although a contract extension may not change the club’s outlook on the court, it can have a major impact on that team’s salary cap situation for the next several seasons.
Rookie scale extensions have typically been the most common form of contract extension. Former first-round picks who are entering the fourth and final year of their rookie deals are eligible to sign those up until October 18. It’s common for at least four or five players eligible for rookie scale extensions to sign them, and that number could be much higher — in 2020, there were 10 rookie scale extensions.
[RELATED: Players Eligible For Rookie Scale Extensions In 2021 Offseason]
While they used to be less common than rookie scale extensions, veteran extensions are happening more frequently these days, with the league’s current Collective Bargaining Agreement expanding the rules for eligibility and creating some additional incentives for star players to sign new deals before they reach free agency. In the past two league years, a total of 19 veteran extensions were signed, matching the 19 rookie scale extensions completed during that same window.
The deadline for a veteran extension for a player who isn’t in the final year of his current contract is October 18. However, a player eligible for a veteran extension who is on an expiring deal can sign a new contract throughout the season.
Listed below are the players who have finalized contract extensions so far in the 2021/22 league year. This list, which can be found on the right-hand sidebar under “Hoops Rumors Features” on our desktop site (or on the “Features” page in our mobile menu) will be kept up to date throughout the offseason — and throughout the ’21/22 regular season if any veteran players ink an extension at that point.
Rookie scale contract extensions:
- Luka Doncic (Mavericks): Five years, maximum salary (story). Projected value of $207,060,000. Includes fifth-year player option and 15% trade kicker. Starts in 2022/23.
- Trae Young (Hawks): Five years, maximum salary (story). Projected value of $172,500,000. Projected value can increase to $207,060,000 if Young earns All-NBA honors in 2022. Includes fifth-year player option and 15% trade kicker. Starts in 2022/23.
- Shai Gilgeous-Alexander (Thunder): Five years, maximum salary (story). Projected value of $172,500,000. Projected value can increase to $207,060,000 if Gilgeous-Alexander earns All-NBA honors in 2022. Includes 15% trade kicker. Starts in 2022/23.
- Michael Porter Jr. (Nuggets): Five years, maximum salary (story). Projected value of $172,500,000. Projected value can increase to $193,256,000 or $207,060,000 if Porter earns All-NBA honors in 2022. Includes partial guarantee ($12MM) in fifth year. Starts in 2022/23.
- Jaren Jackson Jr. (Grizzlies): Four years, $104,720,000 (story). Includes Exhibit 3 injury protection related to Jackson’s left knee. Starts in 2022/23.
- Mikal Bridges (Suns): Four years, $90,000,000 (story). Starts in 2022/23.
- Kevin Huerter (Hawks): Four years, $65,000,000 (story). Starts in 2022/23.
- Wendell Carter Jr. (Magic): Four years, $50,000,000 (story). Starts in 2022/23.
- Robert Williams (Celtics): Four years, $48,000,000 (base value) (story). Includes $6MM in total incentives. Starts in 2022/23.
- Landry Shamet (Suns): Four years, $42,500,000 (story). Includes non-guaranteed third year and fourth-year team option. Starts in 2022/23.
- Grayson Allen (Bucks): Two years, $17,000,000 (base value) (story). Includes $2.55MM in total incentives. Starts in 2022/23.
Veteran contract extensions:
- Stephen Curry (Warriors): Four years, $215,353,662 (story). Starts in 2022/23.
- Kevin Durant (Nets): Four years, $192,504,908 (base value) (story). Includes $5,152,000 in total incentives. Starts in 2022/23.
- Joel Embiid (Sixers): Four years, maximum salary (story). Includes fourth-year player option. Starts in 2023/24.
- Note: Embiid’s starting salary in 2023/24 will be 35% of the ’23/24 salary cap.
- Jimmy Butler (Heat): Three years, maximum salary (story). Includes third-year player option. Starts in 2023/24.
- Note: Butler’s starting salary in 2023/24 will be the lesser amount of $45,183,960 or 35% of the ’23/24 salary cap.
- Julius Randle (Knicks): Four years, $106,444,800 (base value) (story). Includes $15,966,720 in total incentives, a fourth-year player option, and a 15% trade kicker. Starts in 2022/23.
- Terry Rozier (Hornets): Four years, $96,258,694 (story). Includes partial guarantee ($24,924,126) in fourth year. Starts in 2022/23.
- Aaron Gordon (Nuggets): Four years, $86,640,001 (base value) (story). Includes $4.8MM in total incentives and a fourth-year player option. Starts in 2022/23.
- Marcus Smart (Celtics): Four years, $77,087,995 (story). Includes trade kicker ($1MM or 15%; whichever is lesser). Starts in 2022/23.
- Dorian Finney-Smith (Mavericks): Four years, $55,560,960 (story). Includes fourth-year player option and 5% trade kicker. Starts in 2022/23.
- Malcolm Brogdon (Pacers): Two years, $45,000,000 (story). Starts in 2023/24.
- Clint Capela (Hawks): Two years, $42,881,280 (base value) (story). Includes $4MM in incentives. Starts in 2023/24.
- Daniel Gafford (Wizards): Three years, $40,182,480 (story). Starts in 2023/24.
- Ivica Zubac (Clippers): Three years, $32,800,000 (story). Starts in 2022/23.
- Jonas Valanciunas (Pelicans): Two years, $30,135,000 (story). Includes trade kicker ($1MM or 15%; whichever is lesser). Starts in 2022/23.
- Gary Harris (Magic): Two years, $26,000,000 (story). Second year non-guaranteed. Starts in 2022/23.
- Robert Covington (Clippers): Two years, $24,000,000 (story). Starts in 2022/23.
- Terance Mann (Clippers): Two years, $22,000,000 (story). Starts in 2023/24.
- Taurean Prince (Timberwolves): Two years, $14,555,000 (story). Second year non-guaranteed. Includes $2.13MM in total incentives. Starts in 2022/23.
- Thaddeus Young (Raptors): Two years, $16,000,000 (base value) (story). Second year partially guaranteed. Includes $1MM in total incentives. Starts in 2022/23.
- Patrick Beverley (Timberwolves): One year, $13,000,000 (story). Starts in 2022/23.
- Josh Richardson (Celtics): One year, $12,196,084 (story). Starts in 2022/23.
- Note: Richardson has been traded to the Spurs since signing his extension.
Clippers Sign Jason Preston To Multiyear Deal
The Clippers have signed second-round pick Jason Preston, the team announced today in a press release. While the team didn’t disclose the terms of the contract, Andrew Greif of The Los Angeles Times (Twitter link) hears from a source that the deal includes two guaranteed seasons with a team option on year three.
It sounds like it’ll be the same as – or very similar to – Brandon Boston Jr.‘s new deal with the Clippers, which was also confirmed today by the team. Both signings were completed using a leftover portion of the club’s taxpayer mid-level exception in order to add the third year.
The Clippers sent a future second-round pick and cash to Orlando on draft night in order to secure the No. 33 pick and select Preston. The 6’4″ guard (and former basketball blogger) played his college ball at Ohio, filling up the box score with 15.7 PPG, 7.3 APG, 7.3 RPG, and 1.5 SPG on .514/.390/.596 shooting in 20 games (34.6 MPG) as a junior in 2020/21.
Interestingly, the Clippers now project to have 16 players on fully guaranteed salaries once Kawhi Leonard, Reggie Jackson, and Nicolas Batum officially sign their new deals. Since 15 is the regular season limit, a player with a guaranteed contract will have to be traded or cut before the regular season begins. It also doesn’t look like there will be room for Yogi Ferrell, who is on a non-guaranteed deal.