Atlantic Notes: Ellis, C. Johnson, Graves, Philon
Shooting guard Keon Ellis signed a two-year, $18MM contract with the Nets as a free agent. The deal contains a mutual option for 2027/28.
Brooklyn can certainly use Ellis’ defensive chops, according to Brian Lewis of The New York Post, and the 26-year-old will reunite with head coach Jordi Fernandez, who was Sacramento’s top assistant during Ellis’ first two years in the league.
“From what I heard, he was pulling for me really hard,” Ellis said of Fernandez. “And I know the way he coaches. He’s very passionate. He’s about the right things. He wants to win. So, the familiarity right there was definitely good.”
Ellis believes his three-and-D game will fit in well with the Nets, Lewis notes.
“With how much they were offering, that just speaks to how much the team wants you as well. So, that. And then obviously, you’ve got some guys on the staff that you’ve been with before, so you know the ropes a little,” Ellis said. “And then the opportunity here as well. When you combine all those things, they just lined up.”
Here’s more from around the Atlantic Division:
- Nets two-way forward Chaney Johnson has been impressing the team during Summer League, Lewis writes in another story. At 6’7″, Johnson has been asked to play small-ball center this summer, and he’s handling the role with aplomb, averaging 15.0 points, 8.8 rebounds and 2.8 steals on .647/.667/.857 shooting in four games at the California Classic and in Las Vegas (28.8 minutes per game). “I knew Chaney was a beast. It’s further confirmed,” assistant coach Dutch Gaitley said. “In the ESPN thing, they asked about all of our rookies: ‘Who’s the one guy you haven’t talked about?’ I was like, ‘It’s Chaney Johnson.’ And the reason is Chaney has to play at the center just because we need him to play the center. If we needed Chaney to play point guard, Chaney would play point guard. He does whatever is called for the team. He’s an outstanding teammate. He plays as hard as anybody on the court. I think he’s got a really bright future.” Johnson went undrafted in 2025 out of Auburn and signed a two-year, two-way deal with Brooklyn at the end of December.
- First-round pick Allen Graves displayed his versatility and feel for the game in his Raptors debut in Las Vegas, per Michael Grange of Sportsnet.ca. The former Santa Clara forward recorded 22 points, 13 rebounds, three steals and two blocks in Friday’s overtime loss to Boston. “I mean yeah, I was (curious), but also I knew that (my game would) translate very well because of my IQ,” he said. “I feel like I can adapt at an elite level, and I feel like that’s what I’m going to do and continue to do as I’m going forward, is just use my brain. That’s my biggest asset. So you know, finding ways to impact the game, no matter what I’m doing, whether that’s offensive rebounding, whether that’s shooting a three, whether going to dive on the floor.”
- Another player selected in the second half of the first round, Sixers guard Labaron Philon Jr., has averaged 21.0 PPG, 6.5 APG, 3.0 RPG and 1.0 SPG in two games in Las Vegas. “Showing I can compete,” Philon said after Thursday’s win (story via Gina Mizell of The Philadelphia Inquirer). “Having the same ‘dawg’ mentality that I had at Alabama, and being the same person. Being me, really.”
Contract Details: Hartenstein, Ellis, Young, Achiuwa, THJ, More
As expected, Isaiah Hartenstein‘s three-year, 75MM contract with the Thunder and Keon Ellis‘ two-year, $18MM deal with the Nets feature both player and team options on their respective final seasons, Hoops Rumors has confirmed.
It has been 25 years since a mutual option (ie. both a player and team option) has been included in an NBA contract, per ESPN’s Bobby Marks, but they’re apparently back in vogue in 2026.
Either the player or the team can decide to exercise their option and lock in the final year of the contract. The option year would only be nixed if both the player and team decline to pick it up, which seems unlikely to happen — if it’s a favorable deal for one side, it’s likely less favorable for the other.
Moritz Wagner‘s agreement with Brooklyn isn’t yet official, but it’s expected to feature a similar second-year mutual option.
Here are more details on some of the recently signed contracts from around the league:
- Trae Young‘s four-year contract with the Wizards is worth his maximum (roughly $49.49MM) in year one, with a 2% raise in year two and then maximum (8%) raises for years three and four. The total value of the deal is $212.8MM.
- The Kings used their full bi-annual exception to sign Precious Achiuwa, so his two-year total is $11.23MM, a little less than the $11.5MM initially reported. Both years of the contract are guaranteed.
- Tim Hardaway Jr.‘s one-year contract with the Heat, reported to be worth $6.5MM, actually comes in at $6.065MM, giving Miami a little more room to maneuver below its hard cap at the first apron.
- Kenrich Williams one-year, $5MM contract with the Thunder features an additional $500K in unlikely incentives, which suggests Oklahoma City isn’t especially worried about the second apron. Unlikely incentives don’t count against a player’s cap hit unless the player meets the necessary criteria to earn the bonus, but they do count against a team’s apron salary.
- The two-way contracts that undrafted rookies Michael Ajayi and Kylan Boswell signed with the Hornets will both cover two years.
- Bruce Thornton‘s four-year contract with the Rockets doesn’t feature any guaranteed money beyond the first season. The second and third years are non-guaranteed, while the fourth year is a team option.
Nets Notes: Watson, Offseason Moves, Randle, Koch
In a subscriber-only article discussing the positive and negative aspects of Nets‘ offseason moves thus far, Brian Lewis of The New York Post says restricted free agent forward Peyton Watson is a player who has “been in their sights.”
Watson, who was vacationing in Europe with current Net and former teammate Michael Porter Jr. as of a few days ago, is one of the most prominent free agents left on the market. The main complicating factor is that he’s restricted after Denver tendered him a qualifying offer, giving the Nuggets the ability to match any potential offer sheet he might sign with a rival team.
The Nuggets are said to be open to sign-and-trade scenarios in the event that they’re unable to bridge the reported gap in valuation between the two sides. Watson is said to be seeking at least $25MM per year on his next contract, which would push Denver deep into second apron territory.
A potential pursuit of Watson and a possible extension for Porter fall under the “unfinished business” part of Brooklyn’s offseason, according to Lewis, who points out that the team remains primed to make moves down the line, with several extra future first-round picks.
Here’s more on the Nets:
- As Lewis writes in the same story, people around the league believe Day’Ron Sharpe and Josh Minott will provide positive value on the contracts they signed to remain with the Nets, and Keon Ellis made sense as a three-and-D option for a team that needed more players in that mold. Agreeing to trade for Julius Randle and moving up five spots in the draft while moving off Nic Claxton was also viewed as a favorable transaction for the Nets, per Lewis. “I actually really like it,” one agent with multiple All-Star clients told The Post. “(Randle’s) great and will be good with his own team.”
- On the negative end of the spectrum, the Nets already didn’t do a great job at protecting the rim, Lewis notes, and that weakness appears even more glaring with Sharpe set to take on a larger role and Moritz Wagner presumably on track to be his backup. Adding a defensive anchor seems like it’ll be a priority at some point.
- David Koch Jr., whose family controls a 15% stake in the Nets’ parent company, has been named a special assistant to general manager Sean Marks, as NetsDaily relays (via Twitter). Koch, who has been an entry-level basketball operations assistant the past two years, made the announcement on LinkedIn.
Contract Details: Ellis, Porzingis, R. Williams
Keon Ellis‘ new two-year, $18MM contract with the Nets will include both a player option and a team option, according to reporting from Fred Katz and Mike Vorkunov of The Athletic (Twitter link).
As Katz and Vorkunov explain, after earning $9MM in 2026/27, Ellis will have the ability to pick up a $9MM player option for 2027/28, while the Nets will also have the opportunity to exercise an identical team option. If both Ellis and the Nets pass on their respective options, the guard will reach free agency in 2027. But if either side opts in, he would earn a guaranteed $9MM salary in ’27/28.
This isn’t something we’ve seen before, as far as I can recall. In fact, Larry Coon wrote in his invaluable CBA FAQ that a contract may not contain more than one option in the same year. But Katz notes that the language in the Collective Bargaining Agreement doesn’t seem to expressly prohibit it, and I had the same takeaway after reading the section on option clauses.
Ellis’ deal can’t be officially finalized until at least July 6, so we’ll see if the NBA allows that double/mutual option on the second year once the contract is signed. That CBA language also may be relevant for Isaiah Hartenstein‘s new deal with the Thunder, which Shams Charania of ESPN reported would include a “unique” mutual option ahead of the third year in 2028/29.
Here are more noteworthy details on a pair of extensions signed on Tuesday:
- Kristaps Porzingis‘ two-year, $40MM extension with the Warriors only has a $3MM partial guarantee on each season, according to reporting from Anthony Slater of ESPN and Katz (Twitter links). Porzingis’ $20MM salary for 2026/27 will become fully guaranteed on July 7 (ie. next Tuesday). A year from now, if Porzingis picks up his $20MM player option, Golden State will have a window to waive him by July 7, 2027 and only pay a $3MM partial guarantee. This is the kind of “mutual” option that has been more common in the NBA in recent years — James Harden‘s two-year deal with the Clippers last season was one contract that had a similar structure.
- Porzingis will also remain trade-eligible throughout the offseason because the terms of his new contract don’t exceed the extend-and-trade restrictions, Slater notes.
- Robert Williams‘ three-year, $44MM extension with the Trail Blazers is only fully guaranteed for the first year, reports Jake Fischer of The Stein Line (Twitter link). The second year is currently partially guaranteed for $5MM, but would become fully guaranteed if Williams plays at least 50 games in 2026/27. The third year is non-guaranteed, but would become fully guaranteed if the big man plays at least 50 games in ’27/28.
Nets Sign Keon Ellis To Two-Year Contract
July 6: Ellis’ new deal with the Nets is now official, according to a press release from the team.
June 30: The Nets plan to sign free agent wing Keon Ellis to a two-year, $18MM contract, sources tell Shams Charania of ESPN (Twitter link).
Charania refers to the second year deal as a “mutual option,” but says it’s fully guaranteed (Twitter link). Those details seem somewhat at odds, so we’ll have to wait to see how exactly the contract is structured.
[Update: More details on Ellis’ second-year option]
A former undrafted free agent who finished out his college career at Alabama, Ellis spent his first three-plus seasons with the Kings, who traded him to the Cavaliers ahead of the February deadline. He played well for Cleveland at the end of the 2025/26 regular season, but he wasn’t part of the team’s rotation in the playoffs.
Retaining Ellis was viewed as a lesser priority for the Cavs as they look to re-sign fellow free agent Dean Wade.
Ellis is a little undersized for a guard/forward (he’s listed at 6’4″ and 175 pounds) and he’s not a great play-maker or on-ball scorer. However, he’s an aggressive, active defender who creates lots of turnovers, and has knocked down 40.7% of his three-point attempts over the course of his four NBA seasons. He’s also a good off-ball cutter, having made 59.3% of his career attempts inside the arc.
Marc Stein and Jake Fischer of The Stein Line first connected Ellis to the Nets, noting at the time that he has a preexisting relationship with head coach Jordi Fernandez. Fernandez was previously Sacramento’s top assistant under Mike Brown, who’s now head coach of the Knicks.
As cap expert Yossi Gozlan notes (via Twitter), Brooklyn could sign Ellis using cap room or the room exception. It’s unclear which pathways they’ll take with Ellis, Day’Ron Sharpe and Josh Minott, two incumbent Nets who have agreed to re-sign with the team.
Ellis, 26, came in at No. 38 on our list of 2026’s top 50 free agents. He had been on two-way and minimum-salary contracts over his first four years in the league, and it sounds like he’ll be getting a significant pay increase on his new deal with Brooklyn.
Free Agent Rumors: LeBron, Cavs, Lakers, Grimes, Wagner, Kennard
After determining that he won’t return to the Lakers, LeBron James (and/or his representatives) will talk to multiple teams after the free agent period begins later today, according to Ramona Shelburne of ESPN (Twitter link), who hears from a source close to the process that there will be “no rush” for him to decide on his next team.
Like Draymond Green in Golden State, James Harden is expected to re-sign with the Cavaliers after turning down a 2026/27 player option, but it waiting to see if his team needs additional flexibility to make a move like signing James, reports Joe Vardon of The Athletic.
Unless Harden takes a very steep discount, the Cavs – the NBA’s only second-apron team in 2025/26 – are expected to need to shed some additional salary in order to offer James more than a minimum-salary contract and to have a chance to re-sign any of their own key free agents, including Dean Wade and Keon Ellis. To that end, Chris Fedor of Cleveland.com confirms that the club has explored the possibility of trading Max Strus, who has an expiring $16.66MM contract, and/or Dennis Schröder, who will earn $14.81MM in the second season of a three-year deal.
Here are a few more free agent rumors from around the NBA, with players prepared to begin negotiating with rival suitors as of 5:00 pm Central time:
- Multiple reporters, including Grant Afseth of Dallas Hoops Journal, Marc Stein and Jake Fischer of The Stein Line (Twitter link), and Dan Woike of The Athletic, identify swingman Quentin Grimes as one of the Lakers‘ top targets. While Los Angeles will have upwards of $50MM of cap room available, it’s unclear how much of that space the team would be willing to commit to Grimes, given that adding an impact center is also a priority in L.A.
- Big man Moritz Wagner is among the Nets‘ potential targets in free agency, sources tell Ian Begley of SNY.tv. While Brooklyn reportedly wants to give Day’Ron Sharpe an expanded role after trading away Nic Claxton, the team remains in the market for frontcourt help, having been linked to multiple centers in recent days, including Mitchell Robinson.
- Sharpshooter Luke Kennard is very much on the Suns‘ radar entering free agency, according to John Gambadoro of Arizona Sports 98.7 (Twitter link) and Afseth. Confirming Phoenix’s interest, Woike writes that the Lakers remain interested in re-signing Kennard as well.
Cavaliers Rumors: Strus, Wade, Ellis, Schröder
Appearing on ESPN Cleveland (YouTube link), Brian Windhorst says he views Cavaliers veteran Max Strus as a possible trade candidate as the team looks to move under the second tax apron. A cost-cutting measure along those lines could also help the team free up enough money to re-sign free agent forward Dean Wade, which is said to be a priority for the Cavs.
“I would keep an eye on Max Strus,” Windhorst said (hat tip to Kurt Helin of NBC Sports). “Dean Wade is going to be expensive, I think more expensive than the Cavs were hoping. I think Keon Ellis could be gone unless they lose Dean Wade. If they lose Dean Wade, I think they re-engineer the concept of [re-signing] Keon Ellis.
“Max Strus is extension-eligible, has one year [and $16.7MM] left on his contract. I want to see if the Cavs are extending Max Strus or if they have to trade Max Strus. And the reason you would trade Max Strus is so that you could potentially afford to keep Dean Wade.”
As Windhorst explains, the logic behind trading Strus is that he would hold appeal on the open market and the Cavs have a player at a similar size and position in Jaylon Tyson. The team doesn’t have a forward at Wade’s size who can play all three frontcourt spots, Windhorst notes.
Windhorst suggests the Cavs’ preferred route would be to salary-dump Dennis Schröder‘s contract, but he’s skeptical they’ll have much luck on that front. The German guard is owed $14.8MM next season and $15.5MM in ’27/28, though only $4.4MM of the ’27/28 salary is guaranteed.
“I think they’re going to try to trade Dennis Schröder to ease that [financial] burden,” Windhorst said. “Whether or not they can trade Dennis Schröder and whether or not they can trade Dennis Schröder in a way that offloads money, that’s a different thing.”
Here’s more on the Cavaliers:
- If the Cavs are unable to re-sign Wade before league-wide free agency opens on June 30, he’s expected to draw interest from multiple playoff teams, including the Sixers, according to Marc Stein and Jake Fischer of The Stein Line (Substack link). Stein and Fischer continue to hear Wade is expected to receive a “sizable portion” of the non-taxpayer mid-level exception, which is projected to start at about $15MM next season and be worth up to $64.7MM over four years.
- Stein and Fischer confirm defensive wing Ellis is unlikely to re-sign with Cleveland unless the team loses Wade in free agency. They hear the Nets could be interested in Ellis, who has a preexisting relationship with head coach Jordi Fernandez dating back to their time together in Sacramento.
Fischer’s Latest: Sabonis, Hawks, Porzingis, Wade, Ellis
Rival teams are expecting the Kings to make Domantas Sabonis available in trade talks again this summer after he stayed with Sacramento through the February deadline, according to Jake Fischer of The Stein Line (Substack link).
As Fischer writes, the Kings are facing a significant cap crunch this offseason and are “known to be looking” to reduce their payroll if they can. Sabonis may more draw more interest than some of the team’s other pricey veterans, Fischer notes. That group also includes Zach LaVine (if he picks up his $49MM player option as expected), DeMar DeRozan and Malik Monk.
Here’s more from Fischer’s latest rumor round-up:
- In addition to the Bulls, Lakers, Hornets and Raptors, whom Fischer linked to Mitchell Robinson, the Hawks are another team eyeing frontcourt reinforcements this offseason. Fischer suggests the team may be in the market for a backup to Onyeka Okongwu rather than a starting five.
- The Warriors are optimistic about their chances of re-signing Kristaps Porzingis to a more team-friendly contract after he made $30.7MM last season while appearing in just 32 regular season games, per Fischer. However, if a deal falls through, Golden State would likely be in the mix for center help too.
- Cleveland essentially had to pick between re-signing Sam Merrill or Ty Jerome last offseason due to the team’s high payroll — even after significant cost-cutting moves ahead of the deadline, the Cavaliers were the only team to finish over the second tax apron in 2025/26. A similar situation could play out this summer, according to Fischer, with the Cavs expected to prioritize retaining Dean Wade over deadline addition Keon Ellis. Fischer hears Wade could command a “healthy portion” of the non-taxpayer mid-level exception, which starts at $15MM next season and projects to be worth up to $64.7MM over four years. Ellis’ stock may be trending in the opposite direction after he didn’t play much for Cleveland in the postseason, Fischer adds.
Injury Notes: Merrill, Robinson, Embiid, Vanderbilt, Kennard, Huerter
Cavaliers wing Sam Merrill, who exited Tuesday’s game vs. Detroit after playing just seven minutes, has been diagnosed with a left hamstring strain after undergoing an MRI on Wednesday, per Chris Fedor of Cleveland.com (Twitter link). Merrill didn’t participate in today’s practice and is listed as questionable for Game 2, though given his diagnosis, it would be a little surprising if he returns on Thursday.
Merrill was a crucial part of Cleveland’s rotation during its first-round series vs. Toronto, providing much-needed floor spacing. After making 42.1% of his three-pointers during the regular season, he converted 11-of-29 (37.9%) across seven games against the Raptors. Among Cavs players, only Donovan Mitchell, James Harden, and Max Strus made more threes in the first round, and each of them played more minutes and hit a lower percentage than Merrill.
As Fedor notes, after Merrill went down in Game 1, the Cavs increased the workloads of Strus and Jaylon Tyson and inserted Keon Ellis into their rotation.
“We’ll probably have to lean on those guys if Sam isn’t back right away,” head coach Kenny Atkinson said.
Here are a few more injury updates from around the NBA:
- Knicks center Mitchell Robinson has been added to the team’s injury report due to an illness and is considered a game-time decision for Wednesday’s Game 2, head coach Mike Brown told reporters this afternoon (Twitter link via James L. Edwards III of The Athletic). Robinson played just 12 minutes and had two points, four rebounds, and four fouls in Game 1.
- Although the Sixers ruled out Joel Embiid for Game 2 of their series vs. New York, that doesn’t necessarily mean he’ll miss multiple contests. Head coach Nick Nurse said today that it’s fair to consider Embiid day-to-day as a result of his ankle and hip injuries, tweets Tony Jones of The Athletic.
- As gruesome as Jarred Vanderbilt‘s finger injury looked on Tuesday, the Lakers provided a positive update on his status on Wednesday. “They were able to put his finger back together. He’s splinted and he’s day to day,” head coach JJ Redick said of Vanderbilt, who sustained an open dislocation of his right pinky finger (Twitter link via Khobi Price of the California Post). Vanderbilt is considered doubtful to play in Game 2 on Thursday, while Luke Kennard is also on the injury report as questionable due to neck soreness, per the team (Twitter link via Jovan Buha).
- Pistons wing Kevin Huerter, on the shelf since April 27 due to a left adductor strain, has been listed as doubtful for Game 2 vs. Cleveland, per Hunter Patterson of The Athletic (Twitter link). Huerter was listed as questionable for Game 1 being being downgraded to out.
Central Notes: Strus, Siakam, Pacers, Ivey
Max Strus has only been back for two games, but it’s clear that Cavaliers coach Kenny Atkinson has big plans for him heading into the playoffs, Chris Fedor of Cleveland.com writes in a subscriber-only piece. Strus was part of the closing lineup in Tuesday’s win over Milwaukee, and Atkinson intends to keep him in a featured role moving forward.
“I have such a comfort level with him,” Atkinson said. “I could see it going any way with him. Maybe starting lineup. Maybe sixth man. We will see how that plays out. But it’s hard not to finish with the guy because he is such a clutch player. We’ll see where it ends up. He has a way of imposing his will and makes you put him in the lineup.”
Strus, who had been sidelined since undergoing foot surgery in late August, contributed six points, six rebounds and four assists Tuesday in 23 minutes off the bench and hit a late three-pointer that helped Cleveland put the game away. Fedor states that Atkinson plans to steadily increase Strus’ minutes over the 13 remaining games in hopes of having him consistently in the high 20s by the start of the postseason.
Strus’ return will lead to difficult decisions for Atkinson as he sets his nine-man rotation for the playoffs. The Cavs acquired Keon Ellis and Dennis Schröder from Sacramento at the trade deadline to upgrade their perimeter defense, and Fedor states that Sam Merrill seems to be another one of Atkinson’s favorite players because of his reliability from three-point range. Fedor speculates that second-year swingman Jaylon Tyson, whom general manager Koby Altman called a franchise cornerstone earlier in the season, may be left out.
“I’m still evaluating who fits and who is going to kind of take the lead in terms of getting in that rotation,” Atkinson said. “We haven’t made a clear decision on who those nine are. Still think we have to evaluate, especially our wings. Have a lot of wings right now.”
There’s more from the Central Division:
- While Pascal Siakam is making progress in his recovery from a right knee sprain, it’s still uncertain when he’ll return to action, according to Dustin Dopirak of The Indianapolis Star (Twitter link). The Pacers forward missed his sixth consecutive game on Wednesday, but coach Rick Carlisle told reporters he expects Siakam back before the end of the season.
- Tony East of Circle City Spin examines the circumstances surrounding the Pacers‘ long losing streak, which reached 15 games on Wednesday. It’s the most consecutive losses in franchise history, and Indiana is on pace for its worst record since entering the NBA.
- Coach Billy Donovan plans to have Jaden Ivey accompany the team on its upcoming road trip in hopes that he can return to action, relays Bulls reporter Will Gottlieb (Twitter link). Ivey hasn’t played since February 11, but Donovan said the pain in his left knee is gone.