Newsstand Rumors | Hoops Rumors

Wizards Waive Richaun Holmes

July 14th, 2025 at 4:10pm CST by Dana Gauruder

The Wizards have waived veteran big man Richaun Holmes, Michael Scotto of HoopsHype tweets.

Holmes’ $13.28MM contract for next season only had a partial guarantee of $250K. He averaged 7.4 points and 5.7 rebounds in 17.2 minutes over 31 games (seven starts) last season.

Holmes will be an unrestricted free agent once he clears waivers. Given his age — 31 — and lack of playing time last season, it’s no surprise that Washington would clear salary by cutting Holmes loose.

Holmes declined a $12.88MM option on his contract last summer in order to sign a two-year, $25.9MM contract that included the partial guarantee on year two. He had been acquired during the trade deadline from Dallas in the deal that sent Daniel Gafford to the Mavs. He appeared in 17 games for Washington that season, making eight starts and averaging 7.1 points and 6.1 rebounds in 18.7 minutes per night.

Holmes was once one of the most sought-after big men in the league. He was signed by Sacramento on a four-year, $46MM contract in 2021 and averaged in double digits in three consecutive seasons for the Kings.

Once the Wizards signed free agent Marvin Bagley III to back up Alex Sarr, it was clear that Holmes was no longer in the Wizards’ plans. He should draw interest from teams seeking frontcourt depth.

Spurs’ Victor Wembanyama Cleared For Basketball Activities

July 14th, 2025 at 2:27pm CST by Rory Maher

Spurs star Victor Wembanyama has recovered from the blood clot in his right shoulder and has been medically cleared to resume basketball activities, he told Maxime Aubin of French outlet L’Équipe (Twitter link).

“I’m officially cleared to return,” Wembanyama said. “It just happened — I got the green light from the Spurs’ medical staff just a few hours ago (last Friday). Phew, I’ll finally be able to play a bit of basketball again!“

After earning Rookie of the Year honors and finishing as the runner-up for Defensive Player of the Year during his debut in 2023/24, Wembanyama had a superlative second season in ’24/25, making his first All-Star appearance and averaging 24.3 points, 11.0 rebounds, 3.7 assists, 1.1 steals and 3.8 blocks in 33.2 minutes per game.

However, shortly after the All-Star break, the 21-year-old center was diagnosed with a deep vein thrombosis in his shoulder, cutting his season short. Despite playing just 46 games, Wembanyama still led the NBA in total blocked shots (176) by a wide margin — Brook Lopez was second with 148.

Both Wembanyama and the Spurs organization have expressed optimism that 2023’s No. 1 overall pick would be fully recovered from the blood clot ahead of the 2025/26 season, which has now come to fruition.

The 7’4″ big man seemed doubtful in April about his odds of suiting up for France at this summer’s EuroBasket, which begins in late August. It seems unlikely that today’s update will have changed those plans, though we may have to wait for official confirmation.

Grizzlies Sign Cam Spencer To Four-Year Contract

July 14th, 2025 at 1:00pm CST by Luke Adams

1:00pm: Spencer has officially signed his new four-year contract, the Grizzlies announced this afternoon (via Twitter).

11:48am: After initially agreeing to a two-year, minimum-salary contract when free agency opened on June 30, the Grizzlies and Cam Spencer have since amended the terms of that agreement, agents Mark Bartelstein and Ross Aroyo tell Shams Charania of ESPN (Twitter link).

According to Charania, Spencer will now be signing a four-year, $10.5MM contract that includes three fully guaranteed seasons. The fourth year will be a team option, tweets Michael Scotto of HoopsHype.

The 53rd pick of the 2024 draft after winning a national championship with UConn, Spencer appeared in 25 games with the Grizzlies last season, averaging 4.2 points, 1.2 rebounds and 1.4 assists in 10.1 minutes per contest. His shooting line was .415/.365/1.000.

The 25-year-old combo guard had a much bigger role in his eight G League appearances (32.2 MPG) with the Memphis Hustle in ’24/25, averaging 23.5 PPG, 3.6 RPG, 3.5 APG and 1.2 SPG on .538/.493/.765 shooting.

When the Grizzlies initially agreed to a two-year, minimum-salary deal with Spencer, they likely didn’t know whether or not they’d have to renounce his rights in order to accommodate Jaren Jackson‘s renegotiated contract.

It appears Memphis was able to hang onto Spencer’s Non-Bird rights while maintaining enough cap room for Jackson’s new deal, which will allow the club to go beyond two years and a little above the minimum for Spencer.

As we wrote earlier today, Spencer’s deal with the Grizzlies is one of four reported signings that will likely be officially completed now that Jackson’s renegotiation and extension is complete.

Cavs’ Koby Altman Signs Contract Extension

July 14th, 2025 at 9:59am CST by Luke Adams

Cavaliers president of basketball operations Koby Altman has signed a contract extension that will run through the 2029/30 season, sources tell Shams Charania of ESPN.

Altman last signed an extension back in January 2022. Reporting at the time indicated that deal kept him under contract through ’27/28, so the new extension will tack on two additional years.

Altman, who has been the head of basketball operations in Cleveland since 2017, oversaw the post-LeBron James rebuild following the star forward’s departure in 2018 and has since constructed one of the NBA’s most talented rosters. The Cavaliers have won at least 48 games and earned a playoff berth in each of the past three seasons. In 2024/25, the club racked up a conference-high 64 regular season victories.

The Cavaliers have drafted Darius Garland and Evan Mobley during Altman’s tenure, as well as trading for Jarrett Allen and Donovan Mitchell. Altman also oversaw the 2024 head coaching search that resulted in the team hiring Kenny Atkinson, who earned Coach of the Year honors this spring.

Altman’s job will get more challenging going forward — after remaining out of luxury tax territory for seven straight seasons in the wake of James’ exit, the Cavs have soared past that tax threshold this offseason and will be operating above the second tax apron in 2025/26.

While carrying one of the league’s most expensive rosters is more of a burden on ownership than management, the roster restrictions that apply to second-apron teams will make it more difficult for Altman and his front office to continue complementing the Cavs’ core with quality role players.

Cleveland lost Ty Jerome in free agency this offseason, but re-signed free agent wing Sam Merrill, swapped Isaac Okoro for Lonzo Ball, and brought back former Cav Larry Nance Jr.

According to Charania, other members of Altman’s front office – including general manager Mike Gansey and assistant general manager Brandon Weems – have also been extended.

Thunder Sign Chet Holmgren To Five-Year Max Extension

July 13th, 2025 at 8:45pm CST by Dana Gauruder

July 13: The Holmgren extension has been made official, per a press release from the Thunder.

July 9: Thunder big man Chet Holmgren has agreed to a fully-guaranteed, five-year maximum rookie contract extension, ESPN’s Shams Charania reports (Twitter link).

Holmgren’s first-year salary under the extension will start at 25% of the 2026/27 salary cap, ESPN’s Bobby Marks tweets. Based on the NBA’s latest cap projection, that would work out to a five-year, $240MM deal.

The second pick of the 2022 draft, Holmgren has battled through injuries in his first three years as a pro but has excelled during his time on the court.

After not playing at all during the 2022/23 season due to a foot injury suffered during the offseason, Holmgren bounced back to start every game in the 2023/24 season, averaging 16.5 points, 7.9 rebounds, 2.4 assists and 2.3 blocks per night.

A pelvic fracture limited Holmgren to 32 regular season games this past season. He posted averages of 15.0 points, 8.0 rebounds, 2.0 assists and 2.2 blocks prior to the playoffs, then started all 23 postseason contests en route to the franchise’s first championship since moving to Oklahoma City. He averaged 15.2 points, 8.7 rebounds, 1.0 assists and 1.9 blocks during the title run.

Holmgren joins league Most Valuable Player Shai Gilgeous-Alexander among current OKC players to receive max extensions. The next order of business is to give star forward Jalen Williams a max contract of his own. He’s also eligible for a rookie scale extension this offseason.

While we’ll wait for the official details to confirm, it doesn’t sound as if Holmgren’s deal will include Rose Rule language that could increase the value of that first year beyond 25% of the cap if he makes an All-NBA team, wins Defensive Player of the Year, or is named MVP.

Charania’s report does say the value of the extension could reach $250MM, which would exceed the projected value of a standard 25% max deal even if the cap rises by the maximum allowable 10% next year (it’d be worth $246.6MM in that scenario). However, that may just be a case of generously rounding up.

Grizzlies Renegotiate, Extend Jaren Jackson Jr.’s Contract

July 13th, 2025 at 6:18pm CST by Rory Maher

July 13: Jackson’s renegotiation and extension are official, the team announced (via Twitter).

June 30: The Grizzlies are expected to renegotiate and extend Jaren Jackson Jr.‘s contract, according to Shams Charania of ESPN, who reports (via Twitter) that Memphis is giving the former Defensive Player of the Year a five-year, $240MM deal.

The forward/center’s new extension will feature a player option for the 2029/30 season, sources tell Charania (Twitter link).

It’s worth noting that the Grizzlies do not currently have the requisite cap room to renegotiate and extend Jackson at the salary that Charania reported — additional cost-cutting moves will be necessary in order to complete the transaction.

John Konchar and Cole Anthony have been rumored as salary-dump candidates, and Charania suggests (via Twitter) that Anthony will likely be the odd man out. The 25-year-old guard is on an expiring $12.9MM contract, but Charania’s reporting suggests he’ll likely be traded or bought out.

[UPDATE: Cole Anthony Agrees To Buyout With Grizzlies, Plans To Join Bucks]

Giving Jackson a lucrative new deal was long expected to be a top priority for Memphis. The 25-year-old was entering the final year of his current contract, which would have paid him about $23.4MM in ’25/26.

Based on the terms of his new deal, his salary for next season will need to be increased by nearly $10MM as part of the renegotiation — the $240MM total by Charania likely includes the $23.4MM he’s already owed for next season, so it’ll be closer to $217MM in new money.

As Keith Smith of Spotrac tweets, the Grizzlies need to trim about $7MM in payroll for next season to finalize Jackson’s deal. They’ll have access to the room version of the mid-level exception by operating below the cap, with free agent guard Ty Jerome a rumored target.

Jackson was named an All-Star for the second time last season and earned a spot on the All-Defensive Second Team. In 74 games (29.8 MPG), he averaged 22.2 PPG, 5.6 RPG, 2.0 APG, 1.2 SPG and 1.5 BPG, with a shooting line of .488/.375/.781.

The Grizzlies have also agreed to a three-year, $52.5MM deal with restricted free agent forward Santi Aldama, according to Charania.

Memphis has been busy this offseason, trading Desmond Bane to Orlando in a blockbuster deal that saw the Grizzlies acquire four first-round picks, one first-round swap, Kentavious Caldwell-Pope and Anthony. The Grizzlies then used two of those picks to move up in the draft and land Washington State wing Cedric Coward.

Nuggets, Kings Officially Swap Jonas Valanciunas, Dario Saric

July 13th, 2025 at 4:21pm CST by Eli Cohen

The Nuggets‘ trade sending Dario Saric to the Kings in exchange for Jonas Valanciunas is now official, according to a press release from Denver.

The trade agreement between the two teams was first reported on July 1. At the time, it seemed like a fairly straightforward deal — Denver was adding a reliable backup center behind Nikola Jokic, while Sacramento was reducing its team salary by swapping out Valanciunas’ $10.4MM salary for Saric’s $5.4MM expiring contract, allowing the Kings to stay out of tax territory while completing other moves.

However, it became more complicated within the past 12 days, as word broke that Valanciunas had a three-year contract offer on the table from the Greek team Panathinaikos that he wanted to accept.

While there has been no indication that the mutual interest between Valanciunas and Panathinaikos has waned, the Nuggets have reportedly told the 33-year-old and his camp that they want the big man the honor his contract. According to reports, Denver had maintained interest in Valanciunas in recent years and views him as a critical addition to its roster.

In order to sign with Panathinaikos, Valanciunas would have to negotiate a buyout with the Nuggets and get a FIBA letter of clearance — as long as he’s on an NBA contract, he can’t unilaterally decide to play in another league, without Denver’s cooperation. Now that the trade is official, he and the Nuggets can formally sit down and discuss next steps, but it sounds for now as if the plan is to have him in camp in Denver in the fall.

Valanciunas landed with the Wizards via sign-and-trade last summer, then was traded to the Kings in February. The durable center made 81 total appearances last season in Washington and Sacramento, averaging 10.4 points, 7.7 rebounds and 2.0 assists in 18.8 minutes per contest.

Saric, meanwhile, couldn’t carve out a rotation role in Denver after signing with the team as a free agent in 2024. He made just 16 appearances, averaging 3.5 points and 3.1 rebounds in 13.1 minutes per night. It’s unclear whether the Kings intend to keep him on their roster entering next season — a return to Europe could be in the cards for the 6’10” forward/center if he reaches free agency.

Luke Adams contributed to this story.

Jalen Williams Signs Five-Year Max Extension With Thunder

July 13th, 2025 at 12:05pm CST by Rory Maher

July 13: Williams’ extension is official, the Thunder announced in a press release.

July 10: The defending champion Thunder and All-Star forward Jalen Williams have agreed to a maximum-salary rookie scale extension that covers five years, agents Bill Duffy and Justin Haynes tell Shams Charania of ESPN (Twitter link).

Jordan Richard of Swish Cultures was first to report the news (via Twitter).

Williams’ new five-year extension is fully guaranteed and does not feature a player or team option, according to Kelly Iko of The Athletic (Twitter link).

Williams’ extension will kick in during the 2026/27 campaign and he will earn at least 25% of that season’s salary cap. Based on the NBA’s latest cap projection, that would work out to a five-year, $240MM deal.

I used the term “at least” because all three reports state that Williams could earn more than that (up to $287MM), which implies his new deal has Rose Rule language that would make him eligible for a starting salary worth up to 30% of next season’s cap if he meets certain performance criteria, such as making an All-NBA team.

The 24-year-old wing is coming off a career-best season in which he averaged 21.6 points, 5.3 rebounds, 5.1 assists, and 1.6 steals in 32.4 minutes per game across 69 outings, with a .484/.365/.789 shooting line. He earned a spot on the All-Defensive second team, as well as the All-NBA third team.

Despite that All-NBA nod in 2025, Williams has not yet met the Rose Rule performance criteria — he will have to achieve the performance criteria again in 2026 to reach that higher salary.

Williams averaged 21.4 points per game for the Thunder during their postseason run to a championship despite dealing with a torn scapholunate ligament in his right wrist, which he underwent surgery to address. He recently said he was dealing with a wrist sprain for most of last season and tore the ligament on April 9.

Charania reported on Wednesday that Williams and the Thunder had “momentum” on an extension. Oklahoma City also agreed to five-year, maximum-salary deal with big man Chet Holmgren on Wednesday, though his rookie scale extension does not appear to contain Rose Rule language.

The Thunder have now locked up MVP Shai Gilgeous-Alexander, Williams and Holmgren to long-term mega-deals this offseason, with SGA officially signing his super-max extension on Tuesday.

Cole Anthony Agrees To Buyout With Grizzlies, Plans To Join Bucks

July 13th, 2025 at 8:03am CST by Arthur Hill

July 13: The buyout is official, the Grizzlies announced (via Twitter).

July 12: Cole Anthony has reached a buyout agreement with the Grizzlies, sources tell Shams Charania of ESPN, who adds that Anthony plans to sign with the Bucks once he clears waivers.

Anthony, who was acquired from Orlando in last month’s Desmond Bane trade, has an expiring $12.9MM contract. Charania doesn’t say how much money Anthony is giving up in the buyout, but it’s expected to be similar to whatever salary he gets in Milwaukee, likely a veteran’s minimum contract for one year.

When the move becomes official, Memphis will be able to use cap room to renegotiate and extend Jaren Jackson Jr.‘s contract, per Bobby Marks of ESPN (Twitter link). Once that happens, the Grizzlies can officially re-sign forward Santi Aldama and finalize their reported deal with free agent guard Ty Jerome.

Selected with the 15th pick in the 2020 draft, Anthony spent his first five NBA seasons with the Magic. He had been a consistent double-digit scorer throughout his career, but his playing time decreased last season and his scoring average dropped to 9.4 PPG.

The addition of Anthony will give Milwaukee 14 standard contracts. That includes Andre Jackson, whose deal won’t become fully guaranteed until opening night.

Agent Says LeBron James Hasn’t Asked To Be Traded

July 12th, 2025 at 10:01pm CST by Arthur Hill

Trade speculation has been swirling around LeBron James for the past two weeks since his decision to exercise a $52.6MM player option for next season was accompanied by a statement from agent Rich Paul indicating that James will be monitoring the Lakers‘ personnel moves to make sure they’re assembling a championship-level roster.

During today’s broadcast of L.A.’s Summer League game (Twitter video link), Dave McMenamin of ESPN relayed a conversation with Paul, who said James hasn’t asked him to work out a trade and he hasn’t discussed the possibility of a future trade with team officials. McMenamin adds that four teams contacted Paul directly to express interest in acquiring James.

Paul also dispelled a theory that James is upset because the Lakers didn’t offer him a contract beyond 2025/26, with McMenamin saying that Paul and James never asked the team for that.

James was at Saturday’s game to watch his son, Bronny James, and the rest of L.A.’s Summer League squad. McMenamin said he gave LeBron a chance to appear on the broadcast to discuss the situation, but he responded, “I ain’t got nothing to talk about.”

McMenamin states that it’s “business as usual” for the Lakers, who are trying to put together the best possible roster around James and Luka Doncic. He lists their assets in potential deals as their 2031 first-round pick and the expiring contracts of Rui Hachimura, Maxi Kleber and Gabe Vincent. They can open a roster spot by waiving Shake Milton before his $3MM contract for next season becomes fully guaranteed on July 20.

James raised some eyebrows around the league by visiting the Cavaliers’ practice facility last week. Although he explained it’s an annual occurrence because he lives in the area during the offseason, it’s possible that similar incidents will continue throughout the summer and maybe into the season until his future gets settled.