Wizards Sign John Wall To Five-Year Extension
4:03pm: The Wizards have officially signed Wall to an extension, the team announced in a press release. According to Lee (via Twitter), a press conference is planned for tomorrow.
"[Wall] is the cornerstone of our team, and we have clearly expressed our desire to build around him well before making it official by re-signing him today," owner Ted Leonsis said in a statement. "We are extremely confident in his leadership abilities and are excited to see the continued improvement of the team."
3:04pm: The Wizards and John Wall have officially reached agreement on a five-year maximum contract extension, reports Michael Lee of the Washington Post (via Twitter). The deal is expected to worth in the neighborhood of $80MM.
Adrian Wojnarowski of Yahoo! Sports first reported last week that the Wizards and Wall were closing in on an agreement for a max extension, while other reporters, including Lee, added that the deal would likely be finalized this week. ESPN.com's Marc Stein noted yesterday that the Wizards hoped to hold a press conference on August 1st, and that timetable still appears to be on track, with J. Michael of CSNWashington.com tweeting that the team will make the official announcement tomorrow.
Agreeing to a five-year contract, rather than a four-year pact, will make Wall the Wizards' designated player, meaning the team can't sign any of their current players, such as Bradley Beal or Otto Porter, to a five-year extension when their rookie contracts expire. It will also make Wall the only NBA player under team control through 2019. The exact amount the Dan Fegan client will earn won't be known until next summer, but James Harden's similar max deal is worth about $78.78MM. So assuming the maximum salary increases a little again next July, $80MM is a reasonable estimate for Wall.
Wall, 2010's first overall pick, hasn't yet developed into the superstar many were expecting, but had his best run as a pro during the second half of 2012/13. In his final 26 games of the season, the 22-year-old averaged 22.7 PPG, 7.8 APG, and 4.8 RPG to go along with shooting percentages of .465/.344/.796. While the deal certainly isn't without risk, it's a risk the Wizards believe they have to take, as Lee wrote earlier today.
With Emeka Okafor's and Trevor Ariza's contracts set to expire next summer, the team will still maintain some cap flexibility even as Wall's new deal takes effect. If Wall earns a salary in the ballpark of $14MM in the first year of his extension, the Wizards should still only have a little over $50MM on their books for 2014/15.
Although Wall is set to become the first player from the 2010 draft class to ink a long-term extension, there are still plenty of eligible candidates. DeMarcus Cousins, Paul George, Eric Bledsoe, Derrick Favors, and Larry Sanders are among the other players expected to engage in extension talks this offseason, if they haven't already.
John Wall Close To Max Contract Extension
JULY 30TH, 11:44am: Wall's max extension remains on track to be completed by the end of this week, according to ESPN.com's Marc Stein. Stein tweets that the team originally targeted a date of August 1st for a press conference, but it's not clear if that's still the goal.
JULY 25TH, 12:25pm: The Wizards and Wall aren't expected to finalize an agreement until at least next week, says Michael Lee of the Washington Post.
JULY 24TH, 9:47pm: John Wall and the Wizards are closing in on a five-year, $80MM maximum contract extension, according to ESPN.com's Marc Stein and Yahoo! NBA reporter Adrian Wojnarowski. The deal will make Wall Washington's designated franchise player, which allows a fifth year on the deal, as opposed to four.
The deadline on such an extension is October 31st, but the Wizards and Wall appear to be closing in much earlier than that. Wall is 22 years old and is entering his fourth season next year. The former number one overall pick has yet to lead his team to the playoffs, and is coming off an injury shortened campaign last year.
Eastern Notes: Wall, Cartier Martin, Antic
SB Nation's Tom Ziller isn't totally convinced that the Wizards need to offer a maximum contract to John Wall this summer, pointing out that at worst, he'd be no more expensive to retain as a restricted free agent one year from now. He mentions Stephen Curry and Jrue Holiday as perfect examples where their respective teams were able to get good discounts by negotiating early extensions, but in Washington's case, offering a max extension now would eliminate potential negotiating leverage next summer in the event that Wall has a subpar season in 2013-14. Though Ziller understands why Wall deserves a maximum contract now, he argues that there'd be little risk and tangible potential benefit in waiting until next year to offer that type of deal.
Here are a few more news and notes out of the Eastern Conference:
- In addition to their interest in free agent center Greg Oden, the Heat are also keeping their eye on Mo Williams, says Alex Kennedy of Hoopsworld.
- Emiliano Carchia of Sportando passes along a report that Cartier Martin is close to a deal with Olympiacos (hat tip to Eurohoops). The 28-year-old swingman spent last season with the Wizards.
- Chris Vivlamore of the Atlanta Journal-Constitution tweets that new Hawks addition Pero Antic had previously passed up an offer to join the Magic in 2008.
- After bringing back Kenyon Martin, the Knicks are still in the market for one more point guard and possibly another big man, notes Newsday's Al Iannazzone.
- Josh Newman of SNYNets.com reports that Brooklyn forward Tornike Shengelia will have surgery next Wednesday to repair a damaged meniscus in his left knee and will most likely miss the FIBA Eurobasket Games in September at the very least.
- With the departure of Mike Miller, Heat reserve James Jones is looking for an opportunity at an expanded role next season (NBA.com via the Associated Press).
Eastern Notes: Irving, Bulls, 76ers, Wall, Heat
Speaking to reporters in Las Vegas, including Jason Lloyd of the Akron Beacon Journal, Kyrie Irving was dismissive of a recent report suggesting he wants out of Cleveland.
"I’m a Cavalier right now, I’m happy to be a Cavalier," Irving said. "I kind of had a sarcastic approach to [the report] because it was a rumor starter. I don’t think he knows anybody in my camp and I don’t know who the guy is. That type of stuff I don’t pay any attention to. Right now I’m a Cleveland Cavalier and I’m happy to be here."
Here's more from around the Eastern Conference:
- Malcolm Thomas' release doesn't necessarily mean the Bulls are clearing room to sign Marcus Camby, a source tells Joe Cowley of the Chicago Sun-Times.
- Sixers GM Sam Hinkie confirmed to Tom Moore of PhillyBurbs.com (Twitter link) that the first-round pick the team will receive from the Pelicans is top-five protected over the next six drafts, starting in 2014.
- John Wall confirmed to Shams Charania of RealGM.com that his reps and the Wizards have begun discussions on a contract extension, but Wall says he doesn't plan to get too involved in those talks.
- After passing along a few Joe Dumars quotes on the amnesty provision and his team's offseason yesterday, Vince Ellis of the Detroit Free Press has a few more items from the Pistons GM on Rasheed Wallace's new gig as a coach, and the trade that sent Chauncey Billups to Denver five years ago.
- The Magic signed Jason Maxiell in part so he can act as a mentor and leader for the team's younger players, writes Josh Robbins of the Orlando Sentinel.
- Ira Winderman's latest mailbag for the South Florida Sun Sentinel includes questions on a potential Joel Anthony trade and the possibility of the Heat signing Greg Oden. Winderman adds (via Twitter) that Miami was among the teams in attendance at Oden's workout today.
Wizards Rumors: Wall, Bynum, Haynes
Over the weekend, John Wall spoke with Michael Lee of the Washington Post about his expectations for the upcoming season. While many are wondering about his future with the Wizards, he claims that his focus will be reaching the postseason for the first time in his NBA career. Could he be headed to the negotiating table sooner rather than later? Here's more on that and other notes on D.C..
- The Wizards have began talking with Wall's agent, Dan Fegan, regarding an extension before the regular season, according to J. Michael of CSNWashington.com. Wall will make $7.259MM this season and if he and the team don't reach a deal on an extension by October 31st, the Wizards have the option of extending him a qualifying offer of $9.698MM in the spring. The Wizards star believes that he is deserving of a max deal, but many in the basketball world do not agree.
- Guard Will Bynum said that he had an offer from the Wizards and was drawing heavy interest from the Knicks and Clippers, but the Pistons were always his preference, tweets Keith Langlois of NBA.com. Detroit re-signed Bynum to a two-year, $5.75MM deal earlier this month.
- Wizards summer league invite Marquez Haynes is impressing people in the organization, including assistant coach Sam Cassell, Michael writes. The guard had interest from other clubs this summer, including the Mavs and Jazz, but wound up with the Wizards' squad.
Southeast Updates: Wall, Harrington, Bobcats
Michael Lee of the Washington Post spoke with John Wall today about his expectations for this upcoming season, which will be Wall's fourth in the league. Wall was matter-of-fact about his focus for next season tell Lee (via Twitter):
"My whole goal is, this is my 4th year & I need to be in the playoffs. Nothing more & nothing else needs to be said about that.”
Wall will make $7.259MM this season with the Wiz and if he and the team don't reach a deal on an extension by October 31st this year, the Wizards have the option to extend him a QO of $9.698MM in the spring.
Here are some more notes from around the Southeast division…
- Lee also writes at the Washington Post that third pick Otto Porter's versatility will be put to the test.
- Heat President Pat Riley says the team will try to find young veterans who can supplant the team's stars when they move on, as Ira Winderman of the South Florida Sun Sentinel notes.
- The Magic will likely buy-out Al Harrington tweets Alex Kennedy of HoopsWorld.
- Louis Williams missed a large part of last season after he tore his right ACL, but as Lang Green at HoopsWorld finds out he's still a big part of the Hawks' plans after talking to coaches and executives. If the Hawks were to trade Williams to free up cap space, Mark Deeks of Shamsports.com says they would have no problem doing so.
- The Bobcats finally made a splashy free agency signing by getting Al Jefferson with a three-year $41MM deal earlier this summer. Rick Bonnell of the Charlotte Observer writes that Jefferson has special skills as one of the last dominant low-post big men in the game today.
- Bonnell's colleague, Charlotte Observer columnist Scott Fowler sounds off on the hysteria over the Bobcats/Hornets name change.
Odds & Ends: Barea, Kenyon, Sampson, Copeland
Here's more from the NBA on an landmark night in free agency:
- A Dallas source tells Darren Wolfson of 1500 ESPN Twin Cities that the Mavs' agreement with Jose Calderon likely knocks them out of discussions for J.J. Barea. Still, the Wolves remain upbeat about their chances of a Barea deal with the Mavs, in what would be a salary dump enabling Minnesota to clear money for a defensive-minded wing player (All Twitter links).
- The Spurs have been one of many teams reportedly interested in Kenyon Martin, and now they're "in hot pursuit" of the veteran big man, though the Knicks and others remain in play, tweets Jared Zwerling of ESPNNewYork.com.
- Ric Bucher of 95.7 The Game heard that Rockets assistant coach Kelvin Sampson wouldn't return to the team, but Sampson tells Mark Berman of Fox 26 Houston that he'll be back in Houston. (Twitter links). "That's just a bad rumor," Sampson said. "I'm looking forward to a great year with the Rockets."
- The Pacers and Chris Copeland discussed a third year that would have been a team option, but settled instead on their two-year, $6.12MM agreement, writes Jared Zwerling of ESPNNewYork.com.
- Marcus Thompson of the Bay Area News Group briefly looks at what the Warriors could do with the trade exceptions they'll acquire as part of their deal with the Jazz. He also hears that the W's see Andre Iguodala as capable of handling backup point guard duties, so the team will prioritize finding a backup center over a backup point guard (Sulia link).
- In a separate piece, Thompson recounts the steps Iguodala took on the way to his agreement with the Warriors, noting that Iggy has long considered Golden State a desirable destination.
- Lately, agent Dan Fegan has been preoccupied with other free agent clients, such as Dwight Howard, so he and the Wizards have yet to begin discussing an extension for John Wall, writes J. Michael of CSNWashington.com. Wall is extension-eligible this season, and will hit restricted free agency next summer if he and the Wizards don't strike a deal by Halloween.
- In an interview with DraftExpress.com, Dario Saric suggests that the Mavericks were interested in making him a promise at No. 13 had he not withdrawn from last week's draft.
Luke Adams contributed to this post.
Wizards GM Talks Wall, Webster, Satoransky, 2014
A year ago today, the Wizards were on the verge of announcing a contract extension for team president Ernie Grunfeld. After a disappointing season in which early-season injuries to John Wall and others killed Washington's chances of contending for a playoff spot, Grunfeld spoke to the media about the direction of the club. Michael Lee of the Washington Post and the Wizards' official Twitter account shared the highlights from Grunfeld, via Twitter….
- The team will "have conversations" with Wall and his reps this summer to see if the two sides can work out a contract extension. Grunfeld stressed again that the Wizards want to keep the former first overall pick long-term and build around him.
- The Wizards would like to add another veteran to the roster for next year if the opportunity arises. Grunfeld also said Martell Webster complemented Wall and Nene well, and that the club would try to bring him back.
- The team hopes to have 2012 second-round pick Tomas Satoransky on its Summer League squad, and will make a decision after that on whether to try to bring him stateside for the season.
- "Nobody's happy" about being in the lottery, and the goal for next season is to not be in that position again.
Eastern Notes: Pacers, Wall, Watson, Musselman
The Pacers have called a "major" press conference for tomorrow morning, leading Ian Begley of ESPNNewYork.com and HoopsWorld's Alex Kennedy to speculate that Paul George will be named the league's Most Improved Player (Twitter links). While we wait to find out exactly what the presser is about, here's more from around the Eastern Conference:
- John Wall is eligible for an extension to his rookie-scale contract this summer, and has repeatedly expressed his belief that he's worthy of a max. J. Michael of CSNWashington.com wrote last month that "all the signals" indicate the Wizards would be open to such a deal. Now, Michael thinks Wall's recent comments suggest he'd be willing to take less if it meant greater flexibility for the team to pursue free agents.
- C.J. Watson told Stefan Bondy he'd love to return to the Nets next season, though Bondy doesn't believe that will happen (Twitter link). Watson has a player option for the minimum salary next season, but if he opts out, the most the taxpaying Nets could offer would be 120% of the minimum under Non-Bird rights.
- Sam Amico of Fox Sports Ohio thinks former Kings and Warriors coach Eric Musselman would make sense for the Cavs, and points out that Musselman once offered Cleveland GM and fellow University of San Diego product Chris Grant a job on his staff in Golden State.
Odds & Ends: Jackson, Wall, Hunt, Sixers
Here are a few more miscellaneous notes to pass along tonight:
- With the Nets basketball operations staff on expiring deals, Stefan Bondy of the New York Daily News (via Twitter) wonders if Mikhail Prokhorov is preparing to offer Phil Jackson an offer to run the team and make his own hires.
- Wizards guard John Wall tells J. Michael of CSN Washington that he won't be one to recruit free agents, and would rather have players want to join his team.
- RealGM's Sham Charania mentions Nuggets assistant coach Melvin Hunt as someone who could draw interest from teams with head coaching vacancies (Twitter link).
- Tom Moore of PhillyBurbs outlines a list of potential coaching candidates for the 76ers, mentioning team assistant Aaron Mckie, Villanova coach Jay Wright, Michael Curry (who will be interviewed for the head coaching job), Warriors assistant Mike Malone, and Spurs assistant Mike Budenholzer as names that could be considered.
- Grantland's Bill Simmons says that when Thunder GM Sam Presti was quietly shopping James Harden last October, he was quickly rebuffed after calling the Raptors to inquire about a deal involving a package centered on Jonas Valanciunas.