Nets Waive Joe Johnson In Apparent Buyout
The Nets have waived Joe Johnson, the team announced via press release. The statement didn’t refer to it as a buyout, but the sides were in buyout talks, as Marc Stein of ESPN.com reported earlier today. The 34-year-old was making almost $24.895MM in the final year of his contract and likely relinquished a portion of that in exchange for the chance to hit free agency.
“The Nets want to thank Joe for his many contributions to the team and the organization,” Nets GM Sean Marks said in the team’s statement. “Joe has been a quality professional since joining the Nets four years ago, was a valued member of three playoff teams, and provided many thrilling moments for his teammates and Nets’ fans. We wish him much success in the future.”
No team has enough cap room or any exception large enough to claim Johnson off waivers, so he’s poised to hit the open market Saturday. He’d been planning to sign with the Cavaliers in the event of a buyout, as Chris Haynes of the Northeast Ohio Media Group and the Cleveland Plain Dealer reported, but Chris Vivlamore of the Atlanta Journal-Constitution hears he has interest in rejoining the Hawks, the team he played for from 2005 to 2012. The Cavs and Hawks are among a group in pursuit of the 15th-year veteran that also includes the Celtics, Rockets, Heat, Thunder and Raptors, according to Stein. Ethan Skolnick of the Miami Herald first reported the Heat’s interest weeks ago, but Miami is unable to sign anyone prior to March 6th without crossing the luxury tax line.
The move leaves the Nets with two open roster spots. Brooklyn saved more than $1.5MM through a buyout deal with Andrea Bargnani this past weekend. Marks has been on the job for only a week, but both Bargnani and Johnson have hit waivers in that brief time. The Nets also released Deron Williams in a buyout deal this past summer under former GM Billy King.
And-Ones: Wolves, Joe Johnson, Rockets, Mavs
The Timberwolves are at a “standstill” in talks with Grizzlies minority-share owner Steve Kaplan about a potential deal that would see Kaplan and his partners take 30% of the Minnesota franchise, Wolves owner Glen Taylor told Jerry Zgoda of the Star Tribune. The sides can’t proceed until Kaplan sells his stake in the Grizzlies, Taylor said to Zgoda, and Memphis principal owner Robert Pera isn’t making it easy, according to Jon Krawczynski of The Associated Press (on Twitter). The deal had reportedly been on track to be complete by the end of this month, but Taylor, who remains optimistic it will ultimately get done, said it will probably take months, not weeks, Zgoda relays. That arrangement would reportedly involve Taylor eventually ceding control of the Wolves to Kaplan, but Taylor plans to remain the primary owner for another few years, Krawczynski tweets. See more from around the NBA:
- New Nets GM Sean Marks essentially confirmed the reported buyout talks with Joe Johnson today in an appearance on the “Joe & Evan” show on CBS New York radio (Twitter transcription via Devin Kharpertian of The Brooklyn Game). Marks said the team would talk to Johnson to see “what he really wants to do,” adding that he thinks the 15th-year veteran has “deserved the right” to go to a playoff team if he wants.
- The relationship between James Harden and soon-to-be free agent Dwight Howard is nuanced, but the idea of tension between the Rockets stars is overblown, as Calvin Watkins of ESPN.com examines.
- The Mavericks didn’t really receive trade offers of picks likely to fall in the middle of the first-round for Dwight Powell and Justin Anderson, according to Tim MacMahon of ESPNDallas.com (Twitter link). That conflicts with an earlier report.
Joe Johnson Interested In Playing For Hawks
Joe Johnson has interest in joining the Hawks if he shakes free from the Nets, several sources tell Chris Vivlamore of the Atlanta Journal-Constitution. That adds some doubt to the notion that Johnson would sign with the Cavaliers if he becomes a free agent this season, as Chris Haynes of the Northeast Ohio Media Group and the Cleveland Plain Dealer had heard. The Nets and Johnson have reportedly begun buyout talks, with the Hawks among a handful of teams interested in signing him.
Only three Hawks, Jeff Teague, Al Horford and Kirk Hinrich, remain from the seven seasons Johnson spent with Atlanta between 2005 and 2012, Vivlamore notes. The Hawks originally signed Johnson to the contract that pays him nearly $24.895MM this season before trading him to the Nets in the 2012 offseason. The 34-year-old would be giving up a portion of that salary in exchange for his way off the 15-42 Nets if the sides work a buyout deal, and he’d be available much more cheaply should he clear waivers, as would be expected.
Atlanta has an open roster spot and can offer Johnson a prorated portion of the room exception, which would work out to about $2MM. That’s not as much as he could get from the Thunder, who can offer about $2.4MM, but it’s more than the Cavaliers and several others can offer. The Celtics, Rockets, Heat and Raptors are also in pursuit, according to Marc Stein of ESPN.com, who broke the story of the buyout talks between Johnson and the Nets. Johnson would have to hit waivers no later than March 1st to be eligible to play for the Hawks or any team other than Brooklyn in the postseason, and that would largely represent Johnson’s motivation to do the buyout, since the Nets have virtually no shot of making the playoffs.
Nets, Joe Johnson Start Buyout Talks
The Nets and Joe Johnson have begun talks about a would-be buyout deal, reports Marc Stein of ESPN.com (Twitter link). Johnson would reportedly sign with the Cavaliers if he becomes a free agent this season, but Stein hears that the Hawks, Celtics, Rockets, Heat, Thunder and Raptors are also pursuing him (Twitter link). Multiple reports in recent weeks have cast doubt on the idea that Johnson would engineer a buyout, which would entail him giving back part of his nearly $24.895MM salary, and Johnson has said he wouldn’t rule out re-signing with the Nets this summer, when his contract is set to expire. Chris Haynes of the Northeast Ohio Media Group and the Cleveland Plain Dealer, who reported the Cavs link, heard that whether a buyout happens comes down to Brooklyn’s willingness to reap financial savings at the cost of a move that would help Cleveland.
Johnson, 34, is averaging 11.8 points per game on 40.6% shooting this season, his lowest figure in either category since the 2002/03 season. Still, he’s shooting 37.1% from 3-point range, mirroring his career average. He remains in a starting role and hasn’t appeared as a reserve in any game since 2003/04, though many of the teams that would sign him would probably ask him to come off the bench.
It’s nonetheless no surprise to see Johnson attract interest from multiple suitors in spite of his declining production, as he’s still capable of delivering an offensive boost. He put up 27 points and 11 assists on February 5th in Brooklyn’s win against the Kings. That was a few days after Ethan Skolnick of the Miami Herald reported that Johnson would stir the Heat’s interest if he came free on the buyout market.
The Cavs and Raptors only have the prorated minimum salary of about $400K to offer, while the Thunder have the most to spend among the teams connected to him, since they have a prorated portion of the $3.376MM taxpayer’s mid-level exception, which is now worth about $2.4MM. The Hawks and Celtics have prorated portions of the room exception now worth about $2MM. The Heat can’t pay even the minimum salary on a contract for the rest of the season until March 6th without inviting repeat-offender tax penalties, while the Rockets are roughly $500K shy of the hard cap they triggered when they signed Montrezl Harrell earlier this season.
Johnson would have to hit waivers by the close of business on March 1st to be eligible to appear in the playoffs with a team other than Brooklyn, a club with no postseason hopes of its own. The Jeff Schwartz client has been in the postseason every year since missing out with the Hawks in 2007.
Atlantic Notes: Marks, Dolan, Casey, Hinkie
New Nets GM Sean Marks took the job on the condition that he have the authority to make moves as he sees fit, writes USA Today’s Jeff Zillgitt, who nonetheless wonders how much autonomy Marks will have to rebuild at a pace he sees appropriate. People around the league believe the Nets are anxious to go after a marquee free agent to hasten the team’s climb up the standings, Zillgitt notes. While we wait to find out if owner Mikhail Prokhorov displays more patience than he has to date, see more from the Atlantic Division:
- Knicks owner James Dolan was agitated after Monday’s loss, a source told Frank Isola of the New York Daily News, and the frustration is evident throughout the organization, as Isola details. New York dropped another game Wednesday against the Pacers. “We’re all frustrated. We can’t accept this,” said interim head coach Kurt Rambis after Monday’s game. “For the organization, for our team, ourselves as individuals, the coaching staff. We can’t accept losing. I want players to be angry. I want players to be frustrated. That’s the right attitude to have.”
- Toronto’s offseason defensive upgrades were “huge,” as coach Dwane Casey puts it, but they won’t matter if the Raptors can’t break through and win a playoff series, which the franchise hasn’t done in more than a decade, opines Tim Bontemps of The Washington Post.
- Sixers GM Sam Hinkie might have lost power to new chairman of basketball operations Jerry Colangelo this season, but Hinkie remains philosophically tied to the idea of his aggressive rebuilding campaign, observes Derek Bodner of Philadelphia magazine.
Eastern Notes: Riley, Bargnani, Lee
Heat team president Pat Riley said that Miami intends to have 15 players on its roster by season’s end, Ira Winderman of The Sun Sentinel relays (Twitter links). The executive indicated that the team plans to add one player by March 10th and another prior to the end of the campaign, Winderman notes. The Heat currently possess 13 players on their roster and are unable to sign anyone to more than a 10-day contract until March 6th, or else the team would be back over the luxury tax line and risk repeat-offender tax penalties. Miami’s roster situation is further complicated by the losses of Beno Udrih, who is out for three months, Tyler Johnson, who is on the shelf for at least two, and Chris Bosh, whom the team is thinking about shutting down for the remainder of the 2015/16 campaign as he deals with blood clot issues for the second straight season.
Here’s more from out of the Eastern Conference:
- Andrea Bargnani gave up $323,599 in salary for 2015/16 and $1,228,060 for 2016/17 as part of his buyout arrangement with the Nets, Eric Pincus of Basketball Insiders relays (on Twitter). The oft-injured power forward will earn $1,039,298 this season and will give Brooklyn a cap hit worth $323,599 next season. The move gives the Nets about $1.7MM in breathing room beneath the luxury tax line.
- David Lee sacrificed $458,575 in salary to facilitate his buyout from the Celtics, Pincus tweets. Boston is on the hook for the remainder of Lee’s $15,035,105 post-buyout salary. Lee ultimately profited from the arrangement, since he signed a deal with the Mavericks that’s worth more than $2MM.
- The Bulls have officially announced today that their new D-League affiliate, which begins play next season, will be called the Windy City Bulls.
And-Ones: Bargnani, Draft, Leonard
Andrea Bargnani has received a contract offer from the Greek club Olympiacos, Nikos Varlas of Eurohoops.net reports. The power forward is not eager to head overseas to finish out the season, Varlas notes, but the team will require a definitive answer from Bargnani prior to Wednesday’s Euroleague transfer deadline. Bargnani was recently waived by the Nets in an apparent buyout arrangement. Also on Olympiacos’ radar is former Warriors big man Jason Thompson, who was waived via the stretch provision by Golden State in order to clear a roster spot for the newly signed Anderson Varejao.
Here’s more from around the league:
- Trail Blazers big man Meyers Leonard has had a tough season thus far dealing with injuries as well as a significantly reduced role for the team and he is trying to remain positive throughout it all, Joe Freeman of The Oregonian writes. “As a competitor, it’s a bit frustrating,” Leonard said. “I want to be out there. I want to help the team win. I’ve said it before and I truly believe this: I’m a starter, talent-wise. But sometimes you have to be willing to sacrifice for the team, which I am. That’s just the kind of guy I am. So I have to keep working hard. I have to keep being a good teammate.“
- Heat executive Andy Elisburg noted that the front office was under no specific directive from ownership to get itself out of the luxury tax this trade deadline and stressed that the deals the team did make in no way compromised its playoff chances this season, Couper Moorhead of NBA.com relays. “There was never a mandate to get out of the tax,” Elisburg said. “We always look at the basketball and business benefits of every trade we make or choose not to make. Sometimes you make a trade to open up a roster spot. Sometimes you don’t make a trade because you like the players you have more than the players you may be acquiring. Once we determined that we did not have another trade to make, we chose to move forward with the opportunity to get under the tax.“
- The Wasserman Media Group has officially renamed itself the Wasserman agency, Jeff Zillgitt of USA Today relays (via Twitter).
- A number of highly-touted freshman continue to fall in the latest 2016 mock draft from Jonathan Givony of DraftExpress, Adam Zagoria of SNY.tv notes. Kentucky center Skal Labissiere, UNLV big man Stephen Zimmerman and Kansas small forward Cheick Diallo are some of the players who have fallen out of the projected draft lottery picks since the college season began, Zagoria writes.
2015/16 Salary Cap Update: Brooklyn Nets
The NBA’s salary cap for 2015/16 is set at $70MM, which is good for an 11% increase from last season, and the luxury tax line is fixed at $84.74MM. With the February 18th cutoff date for trades now past and the de facto deadline of March 1st for buyouts rapidly approaching, we at Hoops Rumors are in the process of updating the salary cap commitments for each NBA franchise for the 2015/16 campaign. Here’s the cap breakdown for the Brooklyn Nets, whose regular season roster can be viewed here:
- 2015/16 Salary Cap= $70,000,000
- 2015/16 Luxury Tax Line= $84,740,000
- Fully Guaranteed Salary Commitments= $82,384,834*
- Remaining Cap Room= -$12,384,834
- Amount Below Luxury Tax Line= $2,287,021**
*Note: This amount includes the $5,474,487 owed to Deron Williams, who was waived via the stretch provision. This amount also includes the $75K owed to Ryan Boatright and the $50K owed to Quincy Miller, who were waived, as well as the $17,638 paid to Dahntay Jones, and the $9,942 paid to Justin Harper, both of whom were waived after earning two days salary. This amount also does not reflect any salary Andrea Bargnani may have given up as part of a buyout arrangement.
**Note: Donald Sloan‘s actual salary for tax purposes is $1,015,421.
Cap Exceptions Available:
- Mid-Level Exception= $2,464,000
- Trade Exception= $1,357,080 (Mason Plumlee. Expires June 27th, 2016)
- Trade Exception= $2,170,465 (Steve Blake. Expires July 13th, 2016)
- Disabled Player Exception= $3,150,000 (Jarrett Jack. Expires March 10th, 2016)
Cash Available to Send Out In Trades= $3,400,000
Cash Available to Receive Via Trade= $3,400,000
Note: Despite the trade deadline having passed, the NBA season technically doesn’t end until June 30th. Teams are able to again make trades upon the completion of the regular season or when/if they are eliminated from the playoffs, whichever comes later. So these cash limits still apply.
The Basketball Insiders salary pages were used in the creation of this post.
Atlantic Notes: Stevens, Brown, Smith, Fredette
The Celtics haven’t had any discussions about filling their open roster spot, coach Brad Stevens said Monday night, according to MassLive’s Jay King. Boston is in no rush to sign anyone to fill the vacancy created when team worked a buyout with David Lee, the coach added, but Stevens nonetheless has an idea of what he’d want in a 15th man.
“I think that we’ll continue to look for versatility,” Stevens said. “And we’ll continue to look for shooting if the right people become available, if we feel like it’s a great fit for our team or if we need them based on injuries or whatever the case may be.”
Boston is reportedly eyeing Reggie Evans, though that appears to be a long shot, at best, and he wouldn’t fit the criteria Stevens laid out, as King notes. See more from the Atlantic Division:
- Tony Brown knows he’s not going to win much as Nets interim coach, but he thinks that if he can make strides in developing the team’s young players, an effort he believes he can achieve in part through a faster tempo, it’ll help his case for his next job, as Brian Lewis of the New York Post relays. It’s unclear whether Brown has a legitimate chance at staying in the Nets head coaching gig beyond this season. “This is not just an audition for [new Nets GM] Sean [Marks]. A lot of teams are looking to see how I’m doing in this position. It’s a résumé-type deal here,” Brown said.
- Evaluating whether soon-to-be free agent Ish Smith is worth keeping as the starting point guard is one of the key tasks the Sixers face down the stretch of the season, argues Bob Cooney of the Philadelphia Daily News, who heard from one rival executive who doubts Smith is any sort of game-changing force.
- Knicks interim coach Kurt Rambis doesn’t seem enthusiastic about the team’s addition of Jimmer Fredette on a 10-day contract, observes Marc Berman of the New York Post.
Atlantic Notes: Okafor, Knicks, Nets
- Nets interim coach Tony Brown believes the decision to part ways with Andrea Bargnani in what is believed to be a buyout deal was best for both parties, Brian Lewis of the New York Post tweets.
- The Knicks, who did not improve their point guard situation before Thursday’s deadline, hope rookie Jerian Grant, who has been inconsistent, can improve his play, Al Iannazzone of Newsday writes. Grant is averaging 4.7 points and 2.4 assists per game.
- With Kelly Olynyk dealing with a right shoulder injury and David Lee gone, there is a decent chance Celtics rookie Jordan Mickey will receive some playing time sooner rather than later, A. Sherrod Blakely of CSNNE.com details. Mickey has spent the majority of this season in the D-League.
- The vibe around the Nets is a lot more positive recently after Brooklyn hired Sean Marks as its new GM and moved into a new training facility, Lewis writes. “Definitely. It’s almost like it’s a new situation,” Joe Johnson said. “We have this great practice facility. We’ve got everything pretty much at our disposal. Guys come back with a great attitude since the break. You just want to try to finish strong and try to develop some type of chemistry with players that we have here. Just keep improving as a team, individually and see what happens.’’ Marks will spend the second half of the season evaluating the entire organization, per Lewis, and it will be interesting to see what becomes of Brown if Brooklyn continues its positive trend.