Blazers Sign Tony Snell To One-Year Deal
AUGUST 10: The Blazers have officially signed Snell, the team announced today in a press release. Portland is now carrying 12 players on standard contracts, with Trendon Watford on a two-way deal and second-round pick Greg Brown still unsigned.
AUGUST 3: The Trail Blazers and free agent wing Tony Snell have agreed to a one-year contract, agent Austin Brown tells Adrian Wojnarowski of ESPN (Twitter link).
Snell, 29, will provide additional shooting on the wing for a Portland team that also reached deals with Norman Powell and Ben McLemore early in free agency.
Snell shot an otherworldly 56.9% on three-point attempts in 47 games (21.1 MPG) for Atlanta in 2020/21, albeit not on a particularly high volume (2.3 attempts per game). He has now knocked down at least 40% of his three-point attempts in four of the last five seasons, and narrowly fell short of that mark in 2018/19 (39.7%).
Terms of Snell’s new deal aren’t yet known, but I’d be a little surprised if it’s worth more than the veteran’s minimum.
Bulls To Acquire DeMar DeRozan From Spurs Via Sign-And-Trade
Free agent wing DeMar DeRozan is expected to sign a three-year, $85MM contract with the Bulls, reports Shams Charania of The Athletic (Twitter links).
According to Charania, the Bulls and Spurs are finalizing a sign-and-trade deal that will send DeRozan to Chicago in exchange for Thaddeus Young, a future first-round pick, and two second-round picks. Al-Farouq Aminu will go to San Antonio in the deal too, per ESPN’s Adrian Wojnarowski (Twitter link).
Wojnarowski also provides the details on the draft picks headed to the Spurs, reporting (via Twitter) that the future first-round pick will convey in 2025 at the earliest, since the Bulls owe their 2023 first-rounder to Orlando. The second-rounders Chicago is sending to San Antonio are the Lakers’ 2022 pick and the Bulls’ own 2025 pick, Woj adds.
Chris Haynes of Yahoo Sports (Twitter links), who first reported DeRozan was nearing a deal with Chicago, says his three-year deal will be fully guaranteed.
It’s a fascinating turn of events for the Bulls and for DeRozan, who had reportedly been planning to meet with the Clippers despite their limited cap flexibility. Because acquiring a player via sign-and-trade hard-caps a team at the tax apron, a sign-and-trade for DeRozan likely wasn’t an option for the Clippers, who project to be taxpayers.
However, the Bulls, who had already agreed to acquire Lonzo Ball via sign-and-trade and had two sizeable – and expendable – expiring contracts belonging to Young and Aminu, were in a far better position to make DeRozan an aggressive offer. And they did just that, agreeing to a deal that will add DeRozan to a core that now includes Zach LaVine, Nikola Vucevic, and Ball.
While DeRozan’s lack of a three-point shot (he has made 35 in the last three seasons) is an oddity for a wing in the modern NBA, his mid-range game is deadly and he has become a legitimately dangerous play-maker, averaging a career-best 6.9 assists per game in 2020/21. Opponents will have a tough time stopping lineups featuring him, LaVine, and Vucevic, though it won’t be the most stout group defensively.
Based on their reported moves, the Bulls still have about $19.5MM in breathing room below the tax and $26MM below the hard cap, according to ESPN’s Bobby Marks, who notes (via Twitter) that the team still holds Lauri Markkanen‘s Bird rights.
The Spurs, who have free agent deals in place with Zach Collins and Doug McDermott, still have about $6MM in projected cap space to work with, Marks adds.
Lakers Sign Malik Monk
AUGUST 6: The Lakers have officially signed Monk, per a team release.
AUGUST 3: The Lakers are poised to add another sharpshooter to their roster, having agreed to a deal with free agent guard Malik Monk, according to ESPN’s Adrian Wojnarowski (Twitter link). It’s believed to be a minimum-salary contract, tweets Keith Smith of Spotrac.
Monk, a former 11th overall pick, struggled in his first three NBA seasons, making just 32.2% of his three-point attempts and serving a drug-related suspension in 2020. However, he emerged as a reliable role player in 2020/21, averaging 11.7 PPG on .434/.401/.819 shooting in 42 games (20.9 MPG).
The Hornets opted not to tender Monk a $7MM+ qualifying offer over the weekend, making him an unrestricted free agent and ensuring that a team like the Lakers can sign him outright without having to worry about an offer being matched.
After nearly acquiring Buddy Hield in a trade with Sacramento last week, the Lakers pivoted and agreed to acquire Russell Westbrook instead, creating a major need for shooting on the wing.
The team began to address that need by agreeing to minimum-salary deals with Wayne Ellington, Kent Bazemore, and Trevor Ariza on day one of free agency. Monk will give the Lakers another option for spacing the floor around their stars.
Lakers Sign Carmelo Anthony To One-Year Deal
AUGUST 6: Anthony’s deal with the Lakers is now official, according to a press release from the team.
AUGUST 3: Carmelo Anthony will be teaming up with Russell Westbrook, Anthony Davis, and LeBron James in Los Angeles, according to ESPN’s Adrian Wojnarowski (Twitter link), who hears from Anthony’s manager Bay Frazier that the veteran forward has agreed to sign a one-year contract with the Lakers.
Anthony has confirmed the news in a video announcement on Twitter. He’ll get a minimum-salary contract.
Anthony was said to be weighing interest from both the Lakers and Knicks on the first day of free agency and ultimately opted to team up with his close friend James for the first time rather than pursuing a second stint in New York.
After consistently averaging 20+ points per game earlier in his NBA career, the 37-year-old forward has transitioned into a complementary role in Portland over the last two seasons.
He averaged 13.4 PPG and 3.1 RPG on .421/.409/.890 shooting in 69 games (24.5 MPG) for the Blazers in 2020/21, accepting a full-time role off the bench for the first time in his career.
The Lakers have been busy filling out their rotation around their stars since free agency began less than 24 hours ago. So far the team has come to terms with Anthony, Malik Monk, Kent Bazemore, Trevor Ariza, Wayne Ellington, and Dwight Howard.
Nets Sign Patty Mills To Two-Year Deal
AUGUST 10: Mills’ contract with the Nets is now official, the team announced today in a press release.
AUGUST 3: The Nets have agreed to sign free agent guard Patty Mills to a two-year, $12MM contract, agent Steven Heumann tells Adrian Wojnarowski of ESPN (Twitter link).
The deal will feature a second-year player option, according to Wojnarowski. Given Brooklyn’s cap situation, the team will complete the signing using the taxpayer version of the mid-level exception. As we outlined earlier today, a two-year deal worth the full taxpayer’s MLE is worth about $12.07MM.
Mills, who will turn 33 next Wednesday, had been one of the few players in the NBA who had spent the last decade with the same team, having made his Spurs debut way back in 2011.
He has been a reliable and consistent bench contributor for San Antonio during that stretch, knocking down 38.9% of his three-point attempts and never making fewer than 34.1% in a single season. In 2020/21, Mills averaged 10.8 PPG and 2.4 APG on .412/.375/.910 shooting in 68 games (24.8 MPG).
Nets general manager Sean Marks played alongside Mills in Portland during the 2010/11 season and then was in San Antonio’s front office and on the Spurs’ coaching staff during Mills’ first few years with the team, so he’s very familiar with the veteran guard.
The Spurs have been shifting more into rebuilding mode within the last couple years, so it made sense for Mills to seek out a contract with a contender. He had been a popular target on the free agent market, with the Lakers and Warriors among the other teams believed to be pursuing him.
The Nets’ willingness to use their full taxpayer mid-level on the veteran guard reflects how much they like him, as the deal will cost the team exponentially more in cap penalties than the $5.89MM Mills will earn in 2021/22. Bobby Marks of ESPN tweets that the signing will increase Brooklyn’s projected tax bill from $92.6MM to $121.8MM.
Suns Re-Sign Abdel Nader
AUGUST 6: Nader’s deal is now official, the Suns announced in a press release.
AUGUST 3: The Suns and Abdel Nader are in agreement on a two-year, $4.2MM deal that will ensure the forward remains in Phoenix, agent Cervando Tejeda tells Shams Charania of The Athletic (Twitter link).
Nader, the 58th overall pick in the 2016 draft, was sent last offseason from Oklahoma City to Phoenix in the blockbuster Chris Paul deal. While he didn’t exactly make the impact that the Suns’ other acquisition in that trade did, Nader played well in limited rotation minutes, averaging 6.7 PPG and 2.6 RPG on .491/.419/.757 shooting in 24 games (14.8 MPG).
Nader dealt with some health issues this season and underwent arthroscopic surgery on his right knee in late April. He was cleared to return to action late in Phoenix’s postseason run.
A two-year, minimum-salary contract for Nader would be worth about $3.8MM, so it’s possible the Suns were willing to go a little higher than that using the 27-year-old’s Bird rights to make sure he remains on the roster. It’s also possible this is some generous rounding at work and Nader’s deal is actually worth the minimum. We’ll keep an eye out for further confirmation.
Free Agency Rumors: DeRozan, Bulls, Wizards, McLaughlin, Rose, Heat
A sign-and-trade deal that sends DeMar DeRozan to the Bulls remains a possibility for the veteran free agent wing, league sources tell Marc Stein (Twitter link). Chicago has previously been mentioned as a possible suitor for DeRozan, and Stein’s report suggests the team remains interested even after reaching agreements with Lonzo Ball and Alex Caruso.
A Monday report from Brian Windhorst of ESPN suggested that a double sign-and-trade sending DeRozan to the Bulls and Lauri Markkanen to the Spurs could be one possibility that the two sides would explore. Chicago also expiring contracts belonging to Thaddeus Young ($14.19MM) and Al-Farouq Aminu ($10.18MM), both of which would theoretically make for good salary-matching pieces.
Here are a few more rumors related to free agency:
- As Spencer Dinwiddie and the Wizards continue to work toward a possible agreement that would land the point guard in D.C., Jake Fischer of Bleacher Report says (via Twitter) that Washington has begun exploring the possibility of trading Chandler Hutchison and a second-round pick as part of a potential sign-and-trade deal for Dinwiddie.
- Jordan McLaughlin and his camp are optimistic about reaching a new multiyear contract agreement with the Timberwolves, according to Chris Hine of The Star Tribune (Twitter link). McLaughlin, a restricted free agent, met face-to-face with the Wolves when free agency opened on Monday, tweets Darren Wolfson of 5 Eyewitness News.
- The Knicks are expected to re-sign Derrick Rose using his Early Bird rights, which means they can keep his smaller cap hold on their books for now and then eventually go over the cap to complete his deal, tweets Steve Popper of Newsday. Popper estimates that New York could still have upwards of $9MM in cap room to work with, or even more if the team waives Luca Vildoza‘s non-guaranteed salary.
- The Heat had interest in Rudy Gay, but weren’t going to match Utah’s two-year, $12MM offer, preferring to commit most of their mid-level to a strong defensive player in P.J. Tucker, tweets Barry Jackson of The Miami Herald.
Heat Re-Sign Dewayne Dedmon
AUGUST 6: The Heat have officially re-signed Dedmon, the team announced today in a press release.
“We love Dewayne and his aggressive attitude at the center position,” team president Pat Riley said in a statement. “He’s a great screener, rebounder and can stretch the floor. He came in after missing most of the season and had a tremendous impact for us. His veteran presence and physicality are going to help anchor our defense and with a whole year under his belt, he will be even better.”
AUGUST 3: Dedmon’s new deal will be worth the minimum, tweets Anthony Chiang of The Miami Herald.
AUGUST 2: The Heat have agreed to terms with free agent center Dewayne Dedmon, according to Shams Charania of The Athletic, who reports (via Twitter) that it’ll be a one-year contract.
Dedmon, who will turn 32 this month, joined the Heat for the home stretch of the 2020/21 season and played well, averaging 7.1 PPG and 5.4 RPG with a .708 FG% in 16 games (13.1 MPG).
Miami reportedly had interest in re-signing him but wasn’t sure about its chances, since the team only held Non-Bird rights and Dedmon had been on a minimum-salary contract, limiting his ability to get a raise. While the details of the deal haven’t yet been reported, it seems likely it’ll be either another minimum deal or something close to it.
It has been a busy first day of free agency for the Heat, who have now secured commitments from Kyle Lowry, Duncan Robinson, P.J. Tucker, and Dedmon. The team is also lining up a maximum-salary extension for Jimmy Butler.
Timberwolves Trade Ricky Rubio To Cavaliers
AUGUST 3: The Timberwolves and Cavaliers have officially announced the trade in a pair of press releases.
The timing is curious, since the free agency moratorium is underway and trades can’t be formally completed during that time. However, the NBA’s official transactions log suggests the deal was finalized on Monday, presumably before the new league year began.
The announcement comes on the heels of Rubio racking up 38 points for the Spanish national team in a losing effort against Team USA on Tuesday.
JULY 29: The Timberwolves have agreed to trade Ricky Rubio to the Cavaliers in exchange for Taurean Prince, a 2022 second-round pick, and cash, sources tell Adrian Wojnarowski of ESPN (Twitter link).
Wojnarowski’s original report stated that the second-round pick and cash were going from Minnesota to Cleveland, but according to Jon Krawczynski of The Athletic (Twitter link), the Wolves are actually acquiring those assets along with Prince.
Subsequent reporting confirms as much — Jake Fischer of Bleacher Report tweets that the Cavs are sending $2.5MM to Minnesota as part of the deal, while Wojnarowski tweets that the pick changing hands is the Wizards’ 2022 second-rounder, which had been controlled by Cleveland.
It’s an interesting deal for the Cavaliers, who already have Darius Garland running the point and Collin Sexton acting as a secondary ball-handler. Giving up assets for Rubio doesn’t necessarily mean the Cavs have to move on from one of those players (likely Sexton), since the team needs depth at the point and was seeking a reliable veteran, per Chris Fedor of Cleveland.com (Twitter link). Still, that added depth would make it easier for Cleveland to move Sexton, who has been the subject of some trade rumors this month.
Rubio, who is currently representing Spain at the Tokyo Olympics, averaged a career-low 8.6 PPG for Minnesota in 2020/21 and shot just .388/.308/.867 in 68 games (26.1 MPG). However, the 30-year-old remains an effective play-maker (6.4 APG) and received praise for his leadership of the young Wolves.
The Timberwolves will create some extra financial flexibility below the luxury tax line as a result of this deal, as Rubio is on a $17.8MM expiring contract, while Prince is making $13MM in the last year of his contract. The team now projects to be about $5.4MM below the tax, tweets ESPN’s Bobby Marks.
It’s unclear if Minnesota intends to keep Prince, but the team was lacking in reliable forward depth this past season, so the former Baylor standout could help out there. He’s a career 37.0% three-point shooter and knocked down 40.0% of his attempts from beyond the arc for Brooklyn and Cleveland in 2020/21.
Free Agency Notes: Fournier, Knicks, Dinwiddie, Wolves, Markkanen
Veteran swingman Evan Fournier agreed to a four-year deal with the Knicks on the first day of free agency on Monday, but that hadn’t necessarily been his plan entering the summer. Fournier tells Gary Washburn of The Boston Globe that he had initially hoped to stick with the Celtics.
“That was my priority going into the summer,” Fournier said. “Because I knew the place. I talked to (Celtics president of basketball operations) Brad (Stevens) and we couldn’t get a deal done, obviously. But I had my options. It wasn’t necessarily Boston only, but I was more inclined to sign there because they traded for me and I felt good while I was there. That’s the thing with free agency. It can go both ways.”
While working out a new deal with Boston was his top priority entering free agency, Fournier is happy to land with the Knicks.
“New York has been on my radar for a while now,” he said. “I’ve always said the Knicks are the Knicks. And I’m honestly extremely happy I’ll be there next year.”
Here are a few more notes related to free agency:
- Although the Knicks are short on cap space, they’re still exploring the possibility of adding another point guard either in a trade or using their $4.9MM room exception, sources tell Marc Berman of The New York Post.
- The Knicks never made a formal contract offer to free agent point guard Spencer Dinwiddie, who was believed to be one of their potential targets, tweets Stefan Bondy of The New York Daily News. Dinwiddie appears likely to end up with Washington.
- The Timberwolves have been in contact with Bulls restricted free agent forward Lauri Markkanen, tweets Darren Wolfson of 5 Eyewitness News. Minnesota doesn’t have a ton of cap flexibility, so figuring out a way to land Markkanen would be a challenge.