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Bulls Sign Bobby Portis

July 7th, 2015 at 4:18pm CST by Eddie Scarito

Courtesy of USA Today Sports Images

The Bulls have signed Bobby Portis to a rookie scale contract, the team announced in a press release (h/t to Eric Pincus of Basketball Insiders). Portis was the No. 22 overall pick in this year’s NBA Draft.

The forward out of Arkansas will earn more than $1.391MM this coming season in the first year of a four-year deal, presuming he receives the standard 120% of the rookie scale. The arrangement will likely will call for him to receive $1,453,680 in 2016/17, $1,516,320 the following year, and $2,494,346 in the final season.

Portis appeared in 36 games for the Razorbacks last season, averaging 17.5 points, 8.9 rebounds, and 1.4 blocks, with a slash line of .536/.467/.737. His career averages are 15.0 PPG, 7.9 RPG, and 1.5 BPG.

Latest On Patrick Beverley

July 3rd, 2015 at 5:26pm CST by Chuck Myron

FRIDAY, 5:26pm: The talks between the Kings and Beverley are progressing, and the two sides could be nearing a deal, Kennedy tweets.

1:05pm: New York is ramping up its pursuit of the point guard, and the sides have been talking a lot, Kennedy reports (on Twitter).

12:26pm: The Cavs contacted Patrick Beverley, Kennedy reports (on Twitter), while the Kings, Mavs and Knicks have all called him, too, according to Jonathan Feigen of the Houston Chronicle (Twitter link).

WEDNESDAY, 12:07am: The Knicks have “major interest” and Beverley is interested in them, too, a source tells Sean Deveney of The Sporting News.

TUESDAY, 1:43pm: The Mavericks, Knicks, Bulls, Cavs will challenge the Rockets in their efforts to re-sign Patrick Beverley, reports Alex Kennedy of Basketball Insiders (Twitter link). Kennedy confirms that Houston continues to have interest in the point guard, as Adrian Wojnarowski of Yahoo! Sports wrote this spring that the Rockets were determined to have him come back.

The Rockets have the right to match all offers after having extended a qualifying offer today worth slightly more than $2.725MM, according to fellow Basketball Insiders scribe Eric Pincus (on Twitter). That was largely a procedural move, as the Bill Duffy client appears poised to command much more after having played for just the minimum salary the past few seasons in Houston.

The Bulls and Cavs would appear to be long shots, since they’re both poised to go into tax territory, likely limiting them to the $3.376MM taxpayer’s mid-level exception. The Mavs and Knicks can clear max-level cap room, though Beverley probably isn’t their first priority. The Rockets are in the mix for marquee names, as usual, but GM Daryl Morey thinks the team will most likely remain above the cap and focus on re-signing its own free agents. Even if it doesn’t, it would be relatively easy to retain Beverley’s Bird rights, since his cap hold is equivalent to his qualifying offer.

Jimmy Butler Ponders Max Offer From Bulls

July 1st, 2015 at 10:46am CST by Chuck Myron

10:46am: The Bulls are open to a player option, Johnson reports (Twitter link).

9:17am: The Happy Walters client is strongly leaning toward Chicago’s five-year offer instead of a shorter deal, reports Marc Stein of ESPN.com (on Twitter).

12:48am: Butler wants a player option in any deal that he signs, and while he may shop himself to other teams if the Bulls don’t grant that request, Chicago would still match any offer, according to K.C. Johnson the Chicago Tribune (Twitter links).

WEDNESDAY, 12:12am: The swingman is thinking about doing a five-year max deal that includes a player option on the last season with the Bulls, tweets Shams Charania of RealGM.

TUESDAY, 11:09am: Butler put off meetings with the Lakers, Celtics, Sixers and Mavs when the Bulls made their max qualifying offer and is now deciding how many years to sign for on a deal with Chicago, reports Chris Broussard of ESPN.com (on Twitter).

MONDAY, 3:43pm: The Bulls have given Jimmy Butler a maximum qualifying offer, meaning other teams can’t sign him to an offer sheet that runs fewer than three years, reports Eric Pincus of Basketball Insiders (Twitter links). Those three years can’t include an option. Opposing teams would otherwise be limited to offer sheets of at least two years had Chicago merely extended a standard qualifying offer. The Bulls have also made the standard QO, worth nearly $4.434MM, that Butler can accept if he is intent on reaching unrestricted free agency as quickly as possible, though that would entail great financial sacrifice this season.

The max qualifying offer, by rule, is a fully guaranteed five years with a starting salary at the max and 7.5% raises. It can’t include any option years. The Bulls and Butler are free to negotiate different terms, but it nonetheless raises the stakes, with Butler reportedly wanting to sign a short-term deal with the Lakers.

David Haugh of the Chicago Tribune reported back in January that the Bulls planned a max offer for Butler, so today’s news is no surprise. Still, paying an estimated max salary of around $19MM to Butler next season will likely send the Bulls, who already have about $63MM in guaranteed salary for 2015/16, into tax territory, with the tax line projected to come in at $81.6MM.

Free Agent Rumors: Gasol, Carroll, Green, Lin

July 1st, 2015 at 10:21am CST by Chuck Myron

The Grizzlies and Marc Gasol are likely to reach a deal, as long expected, today or Thursday, as TNT’s David Aldridge hears (Twitter link). Gasol and Grizzlies owner Robert Pera are both in Spain today, working out the details on a new deal, a source tells TNT’s David Aldridge (Twitter link). While we wait for what appears to be an inevitable conclusion for the Arn Tellem client, here’s more from the first day of free agency:

The Pistons are believed to have spoken to DeMarre Carroll overnight, according to Terry Foster of the Detroit News.
New York would reportedly like to meet with Danny Green, and that interest appears mutual, as “anybody turning down a meeting with them would be crazy,” Green said to Marc Berman of the New York Post. “I don’t think people are scared of the Knicks,’’ Green said. “They’re rebuilding. … Some guys want to go where they’re already winning. They get a couple of good pieces this summer, I’m sure it’ll attact more guys.’’
Jeremy Lin heard from the Lakers overnight, and the Mavericks, Grizzlies, Pacers, Bulls and Clippers, a league source told Mark Medina of the Los Angeles Daily News. Still, Lin appears unlikely to re-sign with the Lakers, Media opines on Twitter.
The Lakers reached out to Wayne Ellington overnight, and the Cavaliers, Warriors, Wizards, Spurs and Hawks also showed interest, Medina reports in a separate piece.
Willie Green and the Knicks have engaged in preliminary discussions, speaking twice since free agency began overnight, tweets Shams Charania of RealGM.
Mike Dunleavy had no shortage of interest from others, but he’s quite pleased about his new deal with the Bulls, as he expressed to K.C. Johnson of the Chicago Tribune (Twitter link). “I’m thrilled to be back,” Dunleavy said. “It’s a really fair deal. I’m looking forward to playing for [coach Fred Hoiberg] and love our team.”
The Magic‘s apparent four-year, $80MM offer to Paul Millsap has executives more optimistic that Orlando won’t match offers for restricted free agent Tobias Harris, reports Chris Mannix of SI.com (Twitter link). Marc Stein of ESPN.com had speculated as much earlier.

Western Notes: Davis, Prince, Matthews

July 1st, 2015 at 6:36am CST by Eddie Scarito

The Lakers have contacted free agent Ed Davis, and would like for him to return to Los Angeles next season, Mark Medina of The Los Angeles Daily News writes. There will be some competition for Davis’ services, as four undisclosed teams have also expressed interest in the big man, Medina notes. Davis is seeking a two or three-year deal worth $7MM-$8MM, or a one-year arrangement worth $9MM-$10MM, the Daily News scribe adds. In 79 games for the Lakers last season, Davis notched averages of 8.3 points, 7.6 rebounds, and 1.2 blocks in 23.3 minutes per contest.

Here’s more from the Western Conference:

The Clippers are not optimistic about the idea of Paul Pierce taking less money to come their way, Sam Amick of USA Today Sports tweets.
The Lakers have expressed interest in restricted free agents Jimmy Butler of the Bulls, and Iman Shumpert of the Cavaliers, Medina relays (Twitter link).
The Spurs were among the teams to contact unrestricted free agent Tayshaun Prince, Ramona Shelburne of ESPNLosAngeles.com tweets.
The Mavericks and Wesley Matthews are still engaged in contract talks, but remain approximately $3MM apart in annual value for the agreement, Amick tweets. Matthews is seeking an annual salary of $15MM per year, while Dallas is offering $12MM, Amick notes.
The Jazz contacted free agent Joe Ingles to express their interest in re-signing the forward, Jody Genessy of The Deseret News tweets. Utah tendered Ingles a qualifying offer worth $1.045MM on Monday, making him a restricted free agent. The 27-year-old appeared in 79 games for the Jazz in 2014/15, including 32 starts, and averaged 5.0 points, 2.2 rebounds, and 2.3 assists in 21.2 minutes per contest.
The Mavs have reached out to point guard Nick Calathes, who is a restricted free agent, Tim MacMahon of ESPNDallas.com tweets.

Zach Links contributed to this post.

Cavs, Wizards Pursue Mike Dunleavy

June 30th, 2015 at 11:39pm CST by Chuck Myron

11:39pm: The Cavs are indeed in pursuit, as well as the Wizards, but the Bulls are still the favorites, reports Shams Charania of RealGM (on Twitter).

9:26am: LeBron James would like the Cavs to sign Mike Dunleavy, but the small forward is highly likely to re-sign with the Bulls, reports Marc Stein of ESPN.com (Twitter links). James, though he’s opting out of his deal, has been very much engaged with Cavs management about the roster and is expected to re-sign. Dunleavy is also reportedly drawing interest from the Clippers.

Chicago apparently wants Dunleavy back, though there’s a limit to how much the Bulls would pay the client of outgoing Wasserman agent Arn Tellem. The Bulls are also highly likely to retain Jimmy Butler, whom they’ve made a maximum qualifying offer. Should Butler end up signing for the max, it’s likely the Bulls will have already exceeded the projected $81.6MM tax line even without a contract for Dunleavy.

The Cavs will probably end up paying an even heavier tax burden, and they’ll almost certainly be limited to offering Dunleavy the $3.376MM taxpayer’s mid-level exception. The Bulls have Early Bird rights to Dunleavy, so they’ll likely be able to pay him as much as about $6MM next season if they want to.

Hornets, Warriors Interested In Marco Belinelli

June 30th, 2015 at 10:59am CST by Chuck Myron

10:59pm: Charlotte’s first call of free agency will be to Belinelli, according to Rick Bonnell of the Charlotte Observer (on Twitter).

3:47pm: The Hornets are expected to aggressively pursue soon-to-be free agent Marco Belinelli, reports Adrian Wojnarowski of Yahoo! Sports, and a source tells Yahoo! colleague Marc J. Spears that the Warriors are interested in signing him, too (Twitter links). The Excel Sports Management client has said that money will likely play a key role in his decision this summer, and that may well make it tough for Golden State, which will almost certainly be limited to the $3.376MM taxpayer’s mid-level exception for outside free agents. Charlotte is poised to have the $5.434MM non-taxpayer’s mid-level, Wojnarowski notes.

The Bulls are another possible suitor for Belinelli should they miss on re-signing Mike Dunleavy, as K.C. Johnson of the Chicago Tribune wrote Monday. Still, they’re likely without means beyond the taxpayer’s mid-level, either. The Spurs can pay up to about $6MM next season to bring him back if they retain his Early Bird rights, though it seems a strong possibility they will renounce those rights to clear cap room for LaMarcus Aldridge or another star free agent.

Charlotte has a need for shooting, and the 29-year-old Belinelli, a career 39.2% three-point shooter, has proven he can fill it. Golden State already has nearly $82.6MM on the books for next season, about $1MM more than the projected tax line, and that’s without a new deal for Draymond Green. Even if the Warriors succeed in finding a taker for David Lee, they’ll have trouble avoiding tax penalties.

Free Agent Rumors: Wright, Belinelli, Barea

June 29th, 2015 at 6:45pm CST by Chuck Myron

Dorell Wright is unlikely to return to the Trail Blazers, Jabari Young of CSNNW.com reports. Wright, who was born in Los Angeles, would like to return home and play for either the Clippers or Lakers, Young continues. The Lakers are the more likely suitor for the unrestricted free agent, who made $3.135MM last season, unless the Clippers fail to secure the services of Paul Pierce, Young adds. The Raptors could also make a run at Wright but Young believes the Heat, who were previously thought to be interested in Wright, probably won’t pursue him since Luol Deng exercised his player option.

In other free agent news around the league:

Spurs swingman Marco Belinelli could be targeted by the Bulls if they fail to re-sign Mike Dunleavy, K.C. Johnson of the Chicago Tribune tweets. The Bulls have made retaining Dunleavy a priority and he’s comfortable playing in Chicago, Johnson adds. Both players are unrestricted free agents.
The Clippers are interested in C.J. Watson, Lavoy Allen, Darrell Arthur and Gerald Green, among others, according to Dan Woike of the Orange County Register (Twitter links). They’d like to find a true point guard to serve as a backup, a league source tells Ben Bolch of the Los Angeles Times (on Twitter).
The Raptors could be a landing spot for Bismack Biyombo, Rick Bonnell of the Charlotte Observer tweets. Biyombo will be an unrestricted free agent because the Hornets decided not to make him a qualifying offer.
The Heat, Bulls, Lakers and Mavericks are among teams interested in signing J.J. Barea, a source told Tim MacMahon of ESPNDallas.com (Twitter link). Barea is seeking a multi-year contract in the $3MM per year range, MacMahon adds.
The only incumbent free agents the Pelicans don’t appear to have at least some interest in re-signing are Jimmer Fredette and Toney Douglas, as John Reid of The Times-Picayune details.

Bulls Interested In Gary Neal

June 29th, 2015 at 12:18pm CST by Chuck Myron

The Bulls are among multiple Eastern Conference playoff teams interested in Gary Neal, reports Darren Wolfson of 1500 ESPN Twin Cities (on Twitter). The soon-to-be free agent guard won’t return to the Timberwolves, though he won’t take any meetings with prospective suitors, Wolfson also tweets as he raises the possibility of a sign-and-trade.

A sign-and-trade would be tricky for the Bulls, who can’t take on any player in such a way if they’re to exceed the tax apron, a line $4MM above the tax threshold, at any point in 2015/16. The Bulls have about $63MM in guaranteed salary for next season, including Kirk Hinrich, who opted in today, but not including an expected max deal for Jimmy Butler or any sort of contract for Mike Dunleavy. Thus, Chicago seems poised to exceed the projected $81.6MM tax line, if not the apron.

Alex Kennedy of Basketball Insiders reported in March that the Wolves would be interested in re-signing the late-blooming five-year veteran who turns 31 in October, but apparently that won’t be happening. Neal seemed eager to leave Minnesota around the trade deadline, shortly after the Wolves acquired him from the Hornets. The Bulls, as well as the Hawks and Wizards, all Eastern Conference playoff teams, reportedly had interest in him around that time.

Eastern Rumors: Cavs, DeRozan, Celtics, Monroe

June 29th, 2015 at 11:53am CST by Chuck Myron

Some sources tell Alex Kennedy of Basketball Insiders that they think LeBron James will ask the Cavs to change coaches (Twitter link), though he has no intention of pushing the team to fire David Blatt, as ESPN’s Chris Broussard reported last week. Blatt has made it clear on multiple occasions that he expects he’ll be back. Still, we’ll see what happens this summer in Cleveland. Here’s more from the Eastern Conference:

Chatter continues to indicate that DeMar DeRozan will opt out and seek a maximum-salary deal next summer, and “there is no way” that the Raptors would be willing to pay him that much, reports Ryan Wolstat of the Toronto Sun. For this summer, the Raptors will probably have particular interest in Marc Gasol and Paul Millsap, Wolstat also writes.
Celtics don’t find their chances to land a star encouraging, as Adam Himmelsbach of The Boston Globe hears. Himmelsbach confirms earlier reports of interest in Greg Monroe and Millsap, though he hears from several team sources who say the team didn’t offer Marcus Smart in trade proposals to other teams on draft day.
Kevin Arnovitz of ESPN.com believes the new regime in Atlanta isn’t as enamored with Monroe’s game as the team’s last set of higher-ups was (Twitter link). The Hawks, who have a new principal owner in Tony Ressler and have formally cut ties with GM Danny Ferry, aren’t among the teams reportedly meeting with the soon-to-be free agent big man.
Jimmy Butler would like to sign a one-year offer sheet with the Lakers, a league source tells Mark Medina of the Los Angeles Daily News, but that would be impossible since offer sheets must be for at least two years and at least three if, as the Bulls have long planned, Chicago makes a five-year max offer. Adrian Wojnarowski of Yahoo! Sports reported a couple of weeks ago that Butler’s interest in the Lakers had increased, but the Bulls have the right to match any offer and are expected to do so, Medina notes.
Reggie Jackson turned down an offer worth more than $12MM a year in extension talks with the Thunder last year because he wanted out of Oklahoma City and onto a team where he could start, a source told Vince Ellis of the Detroit Free Press. Jackson will probably demand the max if the Pistons want him to sign for five years, the same source said to Ellis.
Mario Hezonja and Barcelona, his Spanish team, have reached a deal on a buyout that will allow him to part ways with the club and sign with the Magic, who drafted him fifth overall Thursday, reports Jose Ignacio Huguet of Mundo Deportivo (translation via Sporando’s Enea Trapani). The buyout is worth 1.6 million euros, the equivalent of about $1.79MM at today’s exchange rate. Orlando will presumably cover the maximum $625K of that amount.