Keep Up With NHL Free Agency At Pro Hockey Rumors
NHL free agency is about to begin, and Pro Hockey Rumors (@ProHockeyRumors on Twitter) is your go-to source for all the breaking news, rumors, and transactions involving all 32 teams in the league.
In the weeks leading up to free agency, we’ve already witnessed a flurry of trade activity that has set the stage for what promises to be an exciting offseason. Former All-Stars and marquee players like Alex DeBrincat, Connor Hellebuyck, and Mark Scheifele have been at the center of trade speculation as teams look to make big moves and reshape their rosters for the upcoming season in a tight salary cap environment.
One of the most surprising moves so far was the trade that sent original expansion draft selection Reilly Smith from the Vegas Golden Knights to the Pittsburgh Penguins. Smith, who sits near the top of many franchise leaderboards for Vegas, was not expecting to be on the move, but the Penguins acquired the veteran fresh off a Stanley Cup so that Vegas had the cap room to re-sign Ivan Barbashev to a long-term extension.
But keeping up with free agency, there are several intriguing names hitting the market this year. Veteran forward Matt Duchene, who was bought out by the Nashville Predators yesterday, is expected to draw significant interest from contending teams looking to bolster their top-six forward group. There’s also one of the greatest American-born players of all time available in former Chicago Blackhawks right wing Patrick Kane, who’s coming off a hip resurfacing procedure that could impact his market value. Defenseman Dmitry Orlov is also one of the top players available after a strong end to the season with the record-setting Boston Bruins.
Pro Hockey Rumors will be your one-stop destination for all the latest updates on these stories and more. Our writing team will provide comprehensive coverage of the free agency frenzy as teams look to make key acquisitions and bring their 2023-24 rosters into focus. Stay tuned to Pro Hockey Rumors on Twitter – @ProHockeyRumors – for real-time updates and analysis. The NHL offseason is about to heat up, and we’ll be there every step of the way to keep you informed and entertained.
Values Of 2023/24 Mid-Level, Bi-Annual Exceptions
The salary cap for the 2023/24 NBA league year has officially been set, with the league announcing that the cap will be $136,021,000, a 10% increase on last year’s number.
Under the league’s current Collective Bargaining Agreement, the values of the mid-level, room, and bi-annual exceptions are tied to the percentage that the salary cap shifts in a given year. Because the cap figure for 2023/24 increased by 10%, the values of the mid-level and bi-annual exceptions increase by the same amount.
There are a few more wrinkles involved in the calculation of this year’s figures. As part of the NBA’s new Collective Bargaining Agreement, the non-taxpayer mid-level exception is receiving a one-time 7.5% increase in addition to the usual 10% bump, while the room exception has been increased by 30% (plus the usual 10%).
The taxpayer mid-level exception is headed in the other direction, dipping to a flat $5MM this season after being worth approximately $6.48MM last season. It will resume increasing at the same rate as the cap going forward.
Listed below are the maximum annual and total values of each of these exceptions, along with a brief explanation of how they work and which teams will have access to them.
Mid-Level Exception (Non-Taxpayer):
| Year | Salary |
|---|---|
| 2023/24 | $12,405,000 |
| 2024/25 | $13,025,250 |
| 2025/26 | $13,645,500 |
| 2026/27 | $14,265,750 |
| Total | $53,341,500 |
The non-taxpayer mid-level exception is the primary tool available for over-the-cap teams to add free agents. As long as a team hasn’t dipped below the cap to use cap space and doesn’t go over the first tax apron ($172,346,000) at all, it can use this MLE, which runs for up to four years with 5% annual raises.
Mid-Level Exception (Taxpayer):
| Year | Salary |
|---|---|
| 2023/24 | $5,000,000 |
| 2024/25 | $5,250,000 |
| Total | $10,250,000 |
Besides being worth less, this exception will now only allow for signings of up to two years instead of three, as a result of the new CBA. The goal was to reduce the ability of taxpaying teams to continue adding talent.
This exception is essentially available to teams who expect their total salaries to fall between the first tax apron and the second apron ($182,794,000). It’s not available to teams above the second tax apron, so a team that does use it becomes hard-capped at that second apron. A team that uses more than $5MM of its mid-level exception will be hard-capped at the first apron.
The taxpayer MLE can be used to sign a player for up to two years, with a 5% raise for the second season.
Room Exception:
| Year | Salary |
|---|---|
| 2023/24 | $7,723,000 |
| 2024/25 | $8,109,150 |
| 2025/26 | $8,495,300 |
| Total | $24,327,450 |
Although this is also a mid-level exception of sorts, it’s colloquially known as the “room” exception, since it’s only available to teams that go below the cap and use their cap room.
If a club goes under the cap, it loses its full mid-level exception, but gets this smaller room exception, which allows the team to go over the cap to sign a player once the team has used up all its cap space. It can be used to sign players for up to three years, with 5% annual raises.
Bi-Annual Exception:
| Year | Salary |
|---|---|
| 2023/24 | $4,516,000 |
| 2024/25 | $4,741,800 |
| Total | $9,257,800 |
The bi-annual exception, as its name suggests, is only available to teams once every two years. Of the NBA’s 30 clubs, only two – the Sixers and Heat – used it in 2022/23, so they won’t have access to it in ’23/24. The league’s other 28 teams could all theoretically use it this season.
Still, even if a team didn’t use its BAE in ’22/23, that club doesn’t necessarily have access to it for the coming year. As is the case with the non-taxpayer MLE, this exception disappears once a team goes under the cap to use room. It’s also not available to teams over the first tax apron — using the BAE creates a hard cap at that apron.
The BAE can be used to sign players for up to two years, with a 5% raise after year one.
Nets Sign Dennis Smith Jr. To One-Year Deal
JULY 8: The Nets have officially signed Smith, per NBA.com’s transaction log.
JULY 1: The Nets have reached an agreement with Dennis Smith Jr., according to Shams Charania of The Athletic (Twitter link), who reports that the free agent guard will sign a one-year contract with Brooklyn.
The ninth overall pick in 2017, Smith struggled during his first few seasons to live up to the expectations that came with his draft slot, but has developed into a solid role player in large part due to his strong perimeter defense.
Smith isn’t much of a scorer, averaging 8.8 PPG on an underwhelming .412/.216/.736 shooting line in 54 games (25.7 MPG) for the Hornets this past season. However, he can handle the ball and can set up teammates, having dished 4.8 assists per contest in 2022/23. The 25-year-old will provide some depth in a Brooklyn backcourt that lacks consistent, reliable options behind Spencer Dinwiddie.
The Nets made Smith a priority in free agency, according to Charania, who reports that he was the team’s “first call” among outside targets. Brooklyn has also agreed to re-sign one of its own free agents, reaching a four-year, $108MM deal with Cameron Johnson.
The terms of Smith’s deal with the Nets have yet to be reported. Having created some breathing room below the tax apron by agreeing to trade Joe Harris and his $20MM salary to Detroit, Brooklyn could offer more than the veteran’s minimum using the mid-level or bi-annual exception.
Lakers Sign Jaxson Hayes To Two-Year Deal
JULY 6: The Lakers have officially signed Hayes, they announced today in a press release.
JULY 1: The Lakers are signing Jaxson Hayes to a two-year contract, sources tell ESPN’s Adrian Wojnarowski (Twitter links). The second year will be a player option, Woj adds.
It seems likely that Hayes will be receiving the veteran’s minimum, barring a sign-and-trade with New Orleans.
Hayes, 23, was the eighth overall pick of the 2019 draft after one college season at Texas. He spent his first four NBA seasons with the Pelicans, who chose not to give him a qualifying offer in order to make him a restricted free agent.
A 6’11” big man who has played both forward and center but is primarily viewed as a five, Hayes has yet to live up to his draft status, averaging 7.5 points and 4.0 rebounds in 241 regular season games with the Pelicans over the past four years (16.8 minutes). In 610 total minutes in 2022/23, he had the worst on/off differential on the team, per NBA.com.
Still, while Hayes doesn’t have a great basketball IQ, he’s young and is a strong run-and-jump athlete. Considering he’s probably getting a minimum-salary deal, he was worth a flier as a potential buy-low candidate given the dearth of available big men on the market.
Spurs, Rockets Have Most Remaining Cap Room
As we enter the first day of the NBA’s 2023/24 league year, two Southwest rivals – the Spurs and Rockets – are the teams with the most projected cap room still available, according to ESPN’s Bobby Marks (Twitter links) and Keith Smith of Spotrac (Twitter link).
San Antonio and Houston were active on Friday night. The Spurs reached agreements to re-sign restricted free agents Tre Jones and Julian Champagnie, while the Rockets made one of the biggest splashes of the summer so far by agreeing to a three-year, maximum-salary contract with Fred VanVleet. However, Jones and Champagnie have cap holds below their projected salaries, while Houston entered the offseason with approximately $64MM in room, so both teams still have plenty of flexibility.
Marks projects the Spurs at $29MM in remaining space, while Smith suggests they could actually still create up to $34MM+ if needed. Either way, they still have more spending power than any team in the NBA. Both Marks and Smith have the Rockets at approximately $25MM.
The Kings, Jazz, and Pacers are among the other clubs that still project to have more than $10MM in cap room remaining, though Sacramento’s and Indiana’s figures are hard to pin down because they’ll hinge on whether the teams complete their rumored trade involving Chris Duarte. The Kings also still have a path to remain an over-the-cap team if they want to, since none of their reported moves so far absolutely require cap space.
Here are a few other things to watch as the second day – and first full day – of the free agent period gets underway:
- While our top seven free agents of 2023 came off the board in the first several hours of free agency, plenty of players in our top 20 are still available: Miles Bridges (No. 8), D’Angelo Russell (9), P.J. Washington (11), Austin Reaves (12), Brook Lopez (15), Max Strus (16), Dillon Brooks (18), Grant Williams (19), and Donte DiVincenzo (20).
- The Cavaliers are reportedly trying to acquire Strus in a sign-and-trade deal involving the Heat and a third team, rumored to be the Spurs. Cleveland doesn’t have the mid-level available for Strus, having committed it to Georges Niang, but Miami doesn’t appear to have interest in taking back salary in a deal, so San Antonio’s cap space could come in handy.
- The Lakers were busy on the first day of free agency, agreeing to re-sign Rui Hachimura and reaching deals to bring in Gabe Vincent and Taurean Prince. However, Russell and Reaves don’t have deals yet. Sources tell Jovan Buha of The Athletic that the Lakers remain interested in re-signing both players and are still in position from a financial perspective to bring them back.
- Tyrese Haliburton and Desmond Bane agreed to maximum-salary rookie scale extensions late on Friday night. Will other extension-eligible players join them on Saturday? Rising Timberwolves star Anthony Edwards looks like the best bet among the rookie scale candidates. Celtics big man Kristaps Porzingis, Raptors swingman Gary Trent Jr., and Jazz guard Jordan Clarkson were among the players said to be making progress in extension talks on Friday, so perhaps they’ll reach agreements soon. As for Jaylen Brown, who is eligible for a super-max contract with the Celtics, a league source tells Adam Himmelsbach of The Boston Globe that the All-NBA wing isn’t expected to agree to terms immediately, but both sides are confident that a deal will be made sooner or later.
- Of course, James Harden remains the biggest name on the trade block, but by all accounts, the Sixers aren’t eager to rush into a deal, so we shouldn’t necessarily expect resolution on that front right away.
- We’ll be tracking all the latest news and rumors all day, and updating our free agent tracker with the newest free agent agreements.
NBA 2023 Free Agency: Day 1 Recap
It was a very busy first day of NBA free agency on Friday. By our count, a total of 39 free agents have agreed to new deals since the negotiating period officially began at 5:00 pm CT, while two more players agreed to maximum-salary extensions.
There was some action on the trade market too, with one deal officially finalized on Friday and three more agreed upon.
Listed below are all the free agent agreements, contract extensions, trades, and other notable news items from the first day of free agency.
Free agent agreements
These deals aren’t yet official, so the reported terms could change — or agreements could fall through altogether. Generally speaking though, teams and players are on track to finalize these agreements sometime after the moratorium ends on July 6.
Note: Some of these salary figures may include options, incentives, or non-guaranteed money.
Jerami Grant, Trail Blazers agree to five-year, $160MM contract.- Fred VanVleet, Rockets agree to three-year, $128.5MM contract (maximum salary)
- Kyrie Irving, Mavericks agree to three-year, $126MM contract.
- Cameron Johnson, Nets agree to four-year, $108MM contract.
- Khris Middleton, Bucks agree to three-year, $102MM contract.
- Kyle Kuzma, Wizards agree to four-year, $102MM contract.
- Draymond Green, Warriors agree to four-year, $100MM contract.
- Jakob Poeltl, Raptors agree to four-year, $80MM contract.
- Herbert Jones, Pelicans agree to four-year, $53.8MM contract.
- Rui Hachimura, Lakers agree to three-year, $51MM contract.
- Bruce Brown, Pacers agree to two-year, $45MM contract.
- Coby White, Bulls agree to three-year, $33MM contract.
- Gabe Vincent, Lakers agree to three-year, $33MM contract.
- Caris LeVert, Cavaliers agree to two-year, $32MM contract.
- Georges Niang, Cavaliers agree to three-year, $26MM contract.
- Dennis Schröder, Raptors agree to two-year, $25.4MM contract.
- Joe Ingles, Magic agree to two-year, $22MM contract.
- Tre Jones, Spurs agree to two-year, $20MM contract.
- Jevon Carter, Bulls agree to three-year, $19MM contract.
- Trey Lyles, Kings agree to two-year, $16MM contract.
- Julian Champagnie, Spurs agree to four-year, $12MM contract.
- Reggie Jackson, Nuggets agree to two-year, $10.25MM contract.
- Shake Milton, Timberwolves agree to two-year, $10MM contract.
- Seth Curry, Mavericks agree to two-year, $9.3MM contract.
- Nickeil Alexander-Walker, Timberwolves agree to two-year, $9MM contract.
- Troy Brown, Timberwolves agree to two-year, $8MM contract.
- Kevin Love, Heat agree to two-year, $7.6MM contract.
- Taurean Prince, Lakers agree to one-year, $4.5MM contract.
- Keita Bates-Diop, Suns agree to two-year, minimum-salary contract.
- Oshae Brissett, Celtics agree to two-year, minimum-salary contract.
- Cam Reddish, Lakers agree to two-year, minimum-salary contract.
- Derrick Rose, Grizzlies agree to two-year, minimum-salary contract.
- Josh Richardson, Heat agree to two-year, minimum-salary contract.
- Drew Eubanks, Suns agree to two-year, minimum-salary contract.
- Chimezie Metu, Suns agree to one-year, minimum-salary contract.
- Yuta Watanabe, Suns agree to one-year, minimum-salary contract.
- Damion Lee, Suns agree to two-year contract.
- DeAndre Jordan, Nuggets agree to contract.
- Josh Okogie, Suns agree to contract.
Contract extensions
Tyrese Haliburton, Pacers agree to five-year, maximum-salary rookie scale extension with Rose Rule language.- Desmond Bane, Grizzlies agree to five-year, maximum-salary rookie scale extension.
- Kristaps Porzingis, Celtics expected to finalize two-year, $60MM extension.
Trades
- Nets agree to trade Joe Harris and two future second-round picks to Pistons in exchange for cash.
- Wizards agree to trade Monte Morris to Pistons in exchange for a 2027 second-round pick.
- Heat agree to trade Victor Oladipo and draft compensation to the Thunder for a return that’s TBD.
- Pistons trade draft rights to Balsa Koprivica to Clippers in exchange for cash.
- Pacers nearing agreement to trade Chris Duarte to Kings for draft compensation.
Other notable headlines
- Clippers are James Harden‘s preferred destination as trade talks with Sixers begin.
- Sixers not expected to pursue rookie scale extension with Tyrese Maxey.
- Gary Trent Jr., Raptors nearing multiyear extension.
- Jordan Clarkson, Jazz engaged in extension discussions.
- Magic guarantee 2023/24 salaries for Markelle Fultz, Gary Harris.
- Trail Blazers waive Trendon Watford.
The first seven players on our list of this year’s top 50 free agents came off the board on Friday night, but there are still plenty of recognizable names on the market, including D’Angelo Russell, Miles Bridges, P.J. Washington, Austin Reaves, Brook Lopez, Max Strus, and Dillon Brooks.
The full list of available free agents can be found right here.
Free Agent Rumors: G. Williams, Lakers, Gordon, Vincent, Brooks
The Celtics are letting the market dictate how they proceed with the contract of restricted free agent power forward Grant Williams.
Sources tell Adam Himmelsbach of The Boston Globe that, since Boston has the right of first refusal on Williams, the team is waiting to see if he gets an offer sheet before making a decision on his future.
The 3-and-D role player could be feeling some roster squeeze if he does return to the Celtics next season, as the club will now boast a frontcourt that features Kristaps Porzingis in addition to Al Horford and Robert Williams III.
Here’s more from around the league:
- The Lakers may be open to bringing back unrestricted free agent shooting guard Malik Beasley for next season, even after deciding not to pick up their $16.5MM option on him for 2023/24. Sources tell Jake Fischer of Yahoo Sports that team president Rob Pelinka still appreciates Beasley as a player and the club has some interest in re-signing him on what would have to be a significantly smaller deal. Fischer adds that the Lakers have not yet made a determination on the future of starting point guard D’Angelo Russell, though both Russell’s management and L.A. had been hopeful about reaching a new long-term deal earlier Friday.
- Fischer adds that the Raptors were viewed as a prime suitor Gabe Vincent as it became increasingly clear that Fred VanVleet would sign a huge new contract with the Rockets. However, after Lakers mid-level target Bruce Brown joined the Pacers early on in free agency, Los Angeles weighed a pursuit of shooting guard Eric Gordon before ultimately deciding on Vincent. Sources tell Fischer that the Raptors didn’t end up reaching out to Vincent during free agency.
- The Heat offered Vincent a four-year, $34MM contract to stay in Miami, a source tells Tim Reynolds of The Associated Press (via Twitter). The 27-year-old instead opted for a shorter-term deal with a higher annual salary, accepting a three-year, $33MM offer from the Lakers.
- The Rockets‘ anticipated meeting with small forward Dillon Brooks is taking place either late on Friday or at some point on Saturday, reports Kelly Iko of The Athletic. According to Iko, the defensive-oriented 6’7″ swingman has had conversations with the Bucks and Lakers on Friday while Houston focused on locking up VanVleet. Now that the Lakers have committed most of their mid-level exception to Vincent, they’re likely no longer a viable landing spot for Brooks, Iko notes.
Hoops Rumors’ 2023 NBA Free Agent Tracker
With free agency officially underway and news of contract agreements breaking left and right, Hoops Rumors is here to help you keep track of which players are heading to which teams this offseason. To this end, we present our Free Agent Tracker, a feature we’ve had each year since our inception in 2012. Using our tracker, you can quickly look up deals, sorting by team, position, free agent type, and a handful of other variables.
A few notes on the tracker:
- Early in free agency, most of the information you’ll find in the tracker will reflect tentative agreements, rather than finalized deals. As signings become official, we’ll continue to update and modify the data as needed.
- Similarly, contract years and dollars will be based on what’s been reported to date, so in many cases those amounts will be estimates or approximations rather than official figures. Salaries aren’t necessarily fully guaranteed either.
- A restricted free agent who signs an offer sheet won’t be included in the tracker right away. We’ll wait to hear whether the player’s original team will match or pass on that offer sheet before we update our tracker in order to avoid any confusion.
- If you’re viewing the tracker on our mobile site, be sure to turn your phone sideways to see more details.
Our 2023 Free Agent Tracker can be found anytime on the right sidebar of our desktop site under “Hoops Rumors Features,” and it’s also under the “Tools” menu atop the site. On our mobile site, it can be found in our menu under “Free Agent Lists.”
The tracker will be updated throughout the offseason, so be sure to check back for the latest info. If you have any corrections, please let us know right here.
Our lists of free agents by position/type and by team break down the players who have yet to reach contract agreements.
Pistons, Clippers Complete Minor Trade
The Pistons and Clippers have officially finalized a minor transaction, according to announcements from both teams (Twitter links). Detroit traded the draft rights to 2021 second-round pick Balsa Koprivica to Los Angeles in exchange for cash considerations.
The 57th overall pick in the 2021 draft, Koprivica has spent the last two seasons overseas with Partizan Belgrade in Serbia after playing his college ball at Florida State. The big man averaged 9.1 PPG and 5.6 RPG in 24 games (19.5 MPG) during his sophomore season with the Seminoles in 2020/21.
According to Omari Sankofa II of The Detroit Free Press (Twitter link), the Clippers sent $2.1MM to Detroit for Koprivica’s rights, which isn’t an insignificant sum.
Tony East of SI.com (Twitter link) theorizes that the Clippers decided to pay for the rights to a draft-and-stash player before the new league year began on July 1 because teams over the second tax apron won’t be permitted to trade cash in the new CBA, but will be able to trade players’ draft rights. In other words, they were turning an asset they won’t be able to use into one they can.
My understanding, however, is that the restrictions on trading cash won’t go into effect until after the 2023/24 regular season ends. So either the Clippers were preparing for those changes down the road or they just believe in the 23-year-old’s NBA potential.
Free Agent Rumors: Lopez, Banton, T. Davis, Strus
Multiple NBA clubs are awaiting word on the future of unrestricted free agent center Brook Lopez, who has spent his past five seasons with the Bucks, per Jake Fischer of Yahoo Sports (Twitter link).
Fischer reports that “increasing word” on Friday suggests the Rockets may bid in excess of the two-year, $40MM deal that has been floated as a possibility.
Lopez, 35, has enjoyed a fruitful relationship with Milwaukee. The seven-footer has been named to two All-Defensive Teams and won his first championship during his Bucks tenure, while totally transforming his game, from being a fringe All-Star post scorer while with the Nets to the gritty 3-and-D role player he is now.
In 78 regular season games for the 58-24 Bucks last season, the former Stanford big man posted averages of 15.9 PPG on .531/.374/.784 shooting splits, in addition to 6.7 RPG, 2.5 BPG and 1.3 APG. He was the runner-up for Defensive Player of the Year honors.
Here are further free agent rumors:
- Free agent point guard Dalano Banton met with the Celtics on Friday, according to Rafael Barlowe of NBA Big Board (via Twitter). The 6’9″ vet out of Nebraska had spent both of his NBA seasons to date with the Raptors. In 31 contests, last year, he averaged 4.6 PPG, 1.5 RPG and 1.2 APG.
- The Celtics, Suns, Bucks, Mavericks and Raptors are among the teams with some level of interest in free agent former Kings shooting guard Terence Davis, according to Mark Jones of ESPN and Michael Scotto of HoopsHype (Twitter links).
- According to Fischer (Twitter link), the Spurs have emerged as a possible third team in a rumored sign-and-trade deal that would send Heat free agent shooting guard Max Strus to the Cavaliers. Sources tell Fischer that Cleveland has been looking to offload the contract of swingman Cedi Osman, whom Miami presumably has no interest in taking on. Barry Jackson of The Miami Herald reports (via Twitter) that the Heat are aiming to create a trade exception and a future second-round draft selection in any sign-and-trade involving Strus.