Atlantic Notes: Lin, Nets, Valanciunas, Miller, Raptors, Jackson, Celtics
Jeremy Lin boldly stated that his Nets will make the playoffs this upcoming season while answering questions from fans in an Instagram Live video, relays A.J. Neuharth-Keusch of USA Today Sports.
“We’re making the playoffs. I don’t care what anybody else says to me,” said Lin. He went on to say, “We’re gonna do some serious damage next year… I’m pretty sure he’ll (D’Angelo Russell) start (at shooting guard), but it will be pretty interchangeable. And then when one of us is out of the game, the other person most likely will have the ball in their hands. It will probably be a little bit combo guard-esque.”
This offseason the Nets have added Russell, as well as DeMarre Carroll and Timofey Mozgov. Brooklyn will be coming off a season in which it finished 20-62, dead last in the NBA standings. Lin played in just 36 games due to injury, but averaged a furtive 14.5 PPG to go with 5.1 APG and 3.8 RPG. Furthermore, Lin managed to put up those strong numbers in a mere 24.5 minutes per contest.
- Raptors president Masai Ujiri addressed rumors that the team is trying to unload center Jonas Valanciunas, via Josh Lewenberg of The Sports Network. Ujiri said that he believes in Valanciunas’ talent and values his offensive rebounding. While admitting that the team looked at trading Valanciunas when they were in the tax, the team is now “very comfortable” keeping JV.
- Raptors guard Malcolm Miller underwent right ankle surgery, the team announced via press release (link via Twitter). Miller is expected to miss the next 12 weeks. He signed the team’s first two-way contract on July 9.
- Also via Josh Lewenberg of The Sports Network, the Raptors president says the team will “add a couple of different players. Maybe they’re non-guarantees, I don’t know.”
- The Celtics employed a creative use of the stretch provision on the contract of Demetrius Jackson, reports Bobby Marks of ESPN. A day prior to waiving the former Notre Dame guard, Boston exercised the 2019/20 non-guaranteed team option on Jackson. This allowed Boston to stretch the contract over seven years rather than five, lowering the cap hit per year to $92,857 instead of $130,000.
Raptors Sign Kennedy Meeks
JULY 18: The Raptors have officially signed Meeks, the team announced today in a press release.
JUNE 23: The Raptors have struck a deal with undrafted rookie Kennedy Meeks, reports Shams Charania of The Vertical (via Twitter). According to Charania, Meeks will sign a partially guaranteed contract with Toronto. The deal can’t become official until after the 2017/18 league year begins.
Meeks, 22, averaged 12.3 PPG and 9.4 RPG during his senior year at North Carolina. The 6’9″ center was viewed as a top-100 prospect by Jonathan Givony of DraftExpress, who had Meeks at No. 92 on his big board.
Although he wasn’t drafted on Thursday night, Meeks will have a chance to attend training camp with the Raptors, making him the third UNC player to find a new NBA home this week. Meeks’ former Tar Heels teammates Justin Jackson and Tony Bradley were both first-round picks, going to the Kings and Jazz, respectively.
The Raptors came away from Thursday night’s draft with OG Anunoby, who isn’t expected to be fully healthy to start the 2017/18 season.
Raptors Sign C.J. Miles
The Raptors have officially signed free agent swingman C.J. Miles, the team announced today in a press release. Miles’ deal with Toronto was originally reported more than a week ago, though when the story first broke, it appeared it would be a sign-and-trade. Instead, the Raptors have signed Miles outright.
“C.J. is an exceptional shooter and adds versatility to our perimeter game,” Raptors president Masai Ujiri said in a statement. “We are excited to add a player with experience level to our core group.”
Initial reports on Miles’ three-year, $25MM agreement with the Raptors suggested that Cory Joseph would be headed to Indiana in the swap. However, because Miles’ deal reportedly includes a third-year player option, it wasn’t eligible for a sign-and-trade — contracts in a sign-and-trade must run at least three years without options.
In order to get around that CBA restriction and to clear the salary necessary to bring Miles aboard, the Raptors sent Joseph to Indiana in a separate deal, and will sign Miles using their mid-level exception. Toronto would have faced a hard cap for 2017/18 either way, as we explained earlier today.
Miles, 30, will will help provide depth and outside shooting on a Raptors team that lost P.J. Tucker and DeMarre Carroll this summer. A 12-year veteran, Miles is coming off another productive season — in 76 games for the Pacers, he averaged 10.7 points and 3.0 rebounds, and shot a career-best 41.3% on three-pointers. He will be getting a nice raise from the $4.58MM he earned in 2016/17.
Photo courtesy of USA Today Sports Images.
NBA Teams With Hard Caps For 2017/18
The NBA salary cap is somewhat malleable, with various exceptions allowing every team to surpass the $99.093MM threshold when that room is used up. In some cases, teams blow past not only the cap limit, but the luxury-tax limit as well, with clubs like the Cavaliers, Warriors, and Trail Blazers going well beyond that tax line this year.
The NBA doesn’t have a “hard cap” by default, which allows those clubs to build significant payrolls without violating CBA rules. However, there are certain scenarios in which teams can be hard-capped. When a club uses the bi-annual exception, acquires a player via sign-and-trade, or uses more than the taxpayer portion of the mid-level exception, that club will face a hard cap for the remainder of the league year.
When a team becomes hard-capped, it cannot exceed the tax apron at any point during the rest of the league year. Under the new CBA, the tax apron is set at the point $6MM above the luxury tax line. For the 2017/18 league year, the tax line is at $119.266MM, so the apron – and the hard cap – is at $125.266MM.
So far this year, six teams have imposed a hard cap on themselves by using the bi-annual exception, using the non-taxpayer mid-level exception, or acquiring a player via sign-and-trade. Listed below are those six teams, along with their current salary situation. Team salaries are estimations, since not all contracts have been finalized, and we don’t know the exact figures on all those salaries.
Los Angeles Clippers
- How they created a hard cap: Acquiring Danilo Gallinari via sign-and-trade. Using non-taxpayer mid-level exception to sign Milos Teodosic and Jawun Evans.
- Approximate team salary: $120MM
- Breakdown: The Clippers still have some non-guaranteed salary on their books, but even if they were to cut those contracts, they’d need to fill out their 15-man roster somehow, so they appear likely to stay over the tax line, despite losing Chris Paul. They’ll fill out their roster with minimum salary players and will have somewhat limited flexibility in trades unless they dump some salary at some point.
Houston Rockets
- How they created a hard cap: Using non-taxpayer mid-level exception to sign P.J. Tucker and Zhou Qi. Using bi-annual exception to sign Tarik Black.
- Approximate team salary: $119MM
- Breakdown: The Rockets acquired Chris Paul before the new league year began in order to hang onto their mid-level and bi-annual exceptions, and made full use of them. Like the Clippers, the Rockets have some non-guaranteed salary that could be removed from their cap to sneak under the tax line, but they don’t appear concerned about that for now. It will be interesting to see if their hard cap limits their flexibility at all when it comes to adding a highly-paid player like Carmelo Anthony.
Toronto Raptors
- How they created a hard cap: Using non-taxpayer mid-level exception to sign C.J. Miles.
- Approximate team salary: $118MM
- Breakdown: Dumping the salaries of DeMarre Carroll and Cory Joseph allowed the Raptors to use their full mid-level exception, which gave them the opportunity to land a talented swingman like Miles. Toronto was originally planning to acquire Miles via a sign-and-trade, but either approach would have hard-capped the club.
Detroit Pistons
- How they created a hard cap: Using non-taxpayer mid-level exception to sign Langston Galloway and Eric Moreland. Using bi-annual exception to sign Anthony Tolliver.
- Approximate team salary: $116MM
- Breakdown: Once the Pistons added Galloway and Avery Bradley, it became clear that Kentavious Caldwell-Pope wouldn’t return. Even without KCP on their books, the Pistons are inching close to tax territory, though they should be able to avoid crossing that threshold.
Memphis Grizzlies
- How they created a hard cap: Using non-taxpayer mid-level exception to sign Ben McLemore and Rade Zagorac. Using bi-annual exception to sign Tyreke Evans.
- Approximate team salary: $104MM
- Breakdown: The Grizzlies are well below the tax line – and the hard cap – for now, but JaMychal Green‘s new contract looms large. At this point, it seems unlikely that Green will sign a massive offer sheet that forces Memphis into tax territory to match it. But even if Green gets $10-12MM per year, the Grizzlies will get a whole lot closer to the tax threshold, which will limit their ability to add more salary. If they let Green walk, that won’t be a problem, but I’d be surprised if that happens.
San Antonio Spurs
- How they created a hard cap: Using non-taxpayer mid-level exception to sign Rudy Gay.
- Approximate team salary: $97MM
- Breakdown: The hard cap shouldn’t have a major impact on the Spurs, who are still nearly $30MM away from reaching it. However, new contracts for Manu Ginobili and Pau Gasol could take San Antonio a whole lot closer to that tax threshold, depending on how much the club ends up paying its returning veterans.
Update (10-8-2017):
New Orleans Pelicans
- How they created a hard cap: Using non-taxpayer mid-level exception to sign Rajon Rondo, Quincy Miller, and Frank Jackson.
- Approximate team salary: $118MM
- Breakdown: The Pelicans are closer to the hard cap than their team salary would suggest, since several unlikely incentives – which don’t currently count against the cap or tax – count for hard cap purposes. They’ll have to be careful this season about making further signings or taking back more money than they send out in a trade
Salary information from Basketball Insiders, HeatHoops, and ESPN used in this post. Team salary information not up to date.
Raptors' Valanciunas Trade Talks Didn't Get Far
- The Raptors haven’t had much luck in their efforts to trade Jonas Valanciunas, as Sean Deveney of The Sporting News details. According to Deveney, discussions with the Kings, Suns, Hornets, Trail Blazers, Hawks, and others “did not get very far.” Now that they’ve dumped some salary by moving DeMarre Carroll and Cory Joseph, it’s not clear if the Raptors are still attempting to move Valanciunas.
Atlantic Notes: Anthony, Nets, Raptors
The Knicks have, at least for now, pulled Carmelo Anthony from the trading block and are not actively shopping their All-Star scorer. If the Knicks really wanted to trade Anthony, the team could have sent him to the Rockets if taking Ryan Anderson‘s contract in return was not a hurdle. As Frank Isola of the New York Daily News writes, dealing Anthony for a player who does less on the court and guaranteed more money the next three years is not a wise move.
Anthony, 33, has two years, $54MM left on his deal whereas Anderson, 29, has three years, $61MM left. Reports have suggested the Knicks are seeking a third, possibly fourth, team to complete a deal. After naming Steve Mills president and acquiring Scott Perry from the Kings to be the team’s new general manager, it’s clear that New York is going in a new direction. Owner James Dolan said as much in a statement regarding the team’s new hire.
“Today marks a culture change for our organization where we reestablish the pride, work ethic and responsibility that comes with playing for the Knicks and representing New York,” Dolan said (via ESPN). “I’m confident that Steve is the right person to take on this role, and ensure that we return to one of the elite teams of the NBA. He’s got an ambitious plan that centers on building a young team focused on player development, communication and teamwork.”
The Knicks still have an abundance of options with Anthony: They can hold onto Anthony and hope he plays well and trade him midseason if the team is out of contention; keep pursuing trades until the team finds a good fit; and, less ideally, buyout Anthony for cap relief. It’s a complicated situation for all and Anthony, with his no-trade clause and trade kicker, has all the power.
Here are additional notes around the Atlantic Division:
- The Nets have 10 guards in their organization and acquiring additional size this offseason remains a priority, per Fred Kerber of the New York Post. Kerber mentions Shabazz Muhammad and JaMychal Green as possible targets for Brooklyn as the team continues its search for upgrades in the frontcourt.
- One of the newest Nets, DeMarre Carroll, tells Ryan Wolstat of the Toronto Sun that he expected a trade this offseason. In the candid interview, Caroll discussed why he did not fit into the Raptors’ offense the way he imagined and why it became frustrating playing for the team.
Raptors Waive Justin Hamilton
JULY 14: The Raptors have officially waived Hamilton, per the NBA’s official transactions log.
JULY 9: The Raptors will waive newly acquired center Justin Hamilton and stretch the remainder of his contract, Brian Windhorst of ESPN tweets.
Hamilton and his $3MM 2017/18 deal were acquired from the Nets in the trade that sent DeMarre Carroll to Brooklyn.
Per Bobby Marks of ESPN, the cap hit will be stretched into $1MM over each of the next three seasons. This, he adds, puts the Raptors $2.5MM below the luxury tax line.
Raptors, Pacers Finalize Cory Joseph Trade
The Raptors have officially sent Cory Joseph to the Pacers in a trade, the team announced today in a press release. In exchange for Joseph, Toronto acquired the draft rights to forward Emir Preldzic.
“We are very excited to acquire Cory,” Pacers president of basketball operations Kevin Pritchard said in his team’s announcement of the trade. “He has been on our radar for a while. With Darren Collison and Cory we have two solid, veteran point guards who fit our culture of playing hard and unselfish.”
Joseph was previously reported to be part of a swap that would send Miles to the Raptors in a sign-and-trade. However, Miles’ three-year contract was set to include a player option, and the NBA’s Collective Bargaining Agreement prohibits third-year options on contracts completed in sign-and-trade deals.
As such, the Raptors will trade Joseph and sign Miles in separate transactions. Toronto will sign Miles using the mid-level exception, which starts at $8.406MM. By splitting up the transactions, the Raptors will no longer be able to retain that MLE for another signing, but they’ll pick up another traded player exception instead. After getting a $11.8MM TPE in their DeMarre Carroll deal with the Nets, the Raptors will create a trade exception worth Joseph’s salary ($7.63MM) in today’s swap.
Moving Joseph to Indiana before signing Miles will help the Raptors stay out of luxury tax territory for now. Joseph, who turns 26 next month, played in 80 games for the Raptors last season, averaging 9.3 PPG and 3.3 APG. He’ll team with the newly-signed Collison as Indiana looks to replace Jeff Teague at the point guard position.
Joseph’s contract includes a player option worth $7.945MM for 2018/19, so he could hit the free agent market a year from now if he has a solid season with the Pacers.
As for Preldzic, the 29-year-old forward was the 57th overall pick in the 2009 draft and has remained overseas since then. At this point, he seems unlikely to make the jump stateside, so his NBA rights were likely just included in the deal because each team has to send out something in a trade. This is the fourth time Preldzic’s rights have been traded since he was drafted.
Photo courtesy of USA Today Sports Images.
Raptors Trade DeMarre Carroll To Nets
JULY 13: The trade is now official, the Nets and Raptors announced today in a pair of press releases. Brooklyn receives Carroll, the Raptors’ 2018 first-round pick, and the less favorable of the Lakers’ and Magic’s 2018 second-round picks. The Raptors receive Hamilton and create an $11.8MM trade exception.
JULY 8: The Raptors have agreed to trade DeMarre Carroll to the Nets in a salary-dump deal, reports Adrian Wojnarowski of ESPN. According to Wojnarowski, Brooklyn will receive first- and second-round picks for 2018 from the Raptors, and will send Justin Hamilton to Toronto.
Even though they lost P.J. Tucker and Patrick Patterson in free agency, the Raptors’ new agreements with Kyle Lowry and Serge Ibaka pushed them into luxury-tax territory. Team ownership had expressed a willingness to pay the tax in certain scenarios, but in this case, Toronto was believed to be looking for a way back below that threshold, having also reportedly shopped Cory Joseph and Jonas Valanciunas.
In Carroll, the Nets will be landing a veteran swingman who has battled health issues since leaving the Hawks in 2015. Carroll signed a lucrative four-year deal with the Raptors that summer, but only appeared in 26 games in his first season with the franchise, and never appeared to be back to his old self in 2016/17, despite starting 72 games. In 26.1 minutes per contest last season, Carroll averaged 8.9 PPG and 3.8 RPG, with a shooting line of .400/.341/.761.
Carroll is owed $14.8MM in 2017/18 and $15.4MM in 2018/19, while Hamilton’s expiring contract is worth just $3MM. However, having had their offer sheet to Otto Porter matched by the Wizards, the Nets will have an excess of cap room to accommodate a salary dump of this nature, and should still have $15MM+ available if they want to pursue another free agent or take on another contract.
Meanwhile, the Raptors project to get out of tax territory by moving Carroll, and should have the flexibility to retain Joseph and Valanciunas, who are key pieces in their rotation. The team also still has its full mid-level exception available, though team salary isn’t very far below the $119.266MM tax line, and using more than the taxpayer MLE would create a hard cap of $125.266MM. As such, the club may not be eager to use that MLE.
Hamilton, 27, will head to Toronto in the swap, coming off a career year for Brooklyn. The veteran center averaged 6.9 PPG and 4.1 RPG in 64 games (18.4 MPG) for the Nets. He also made a career-best 0.9 threes per game, albeit at a mediocre 30.6% rate. Hamilton could be an interesting addition to Toronto’s frontcourt, but the Raptors figure to be on the lookout for help on the wing, with big-bodied swingman Carroll and Tucker both moving on this summer.
As for the draft picks changing hands in this deal, the Raptors’ first-round pick heading to the Nets will be lottery-protected, per Jeff Zillgitt of USA Today (Twitter link). Toronto has already traded its own 2018 second-round pick, but holds the rights to the less favorable of the Lakers’ and Magic’s second-rounder, so that figures to be the other selection headed to Brooklyn.
The deal won’t be finalized until the Nets’ cap room for the Porter offer sheet officially opens back up.
Photo courtesy of USA Today Sports Images.
Raptors Inquire On Boris Diaw
The Raptors have reached out to the Jazz to inquire on Boris Diaw, reports Tony Jones of The Salt Lake Tribune (Twitter links). Jones describes the contact – and any talks between the two teams – as “strictly preliminary.”
As we noted this morning, the Jazz are expected to waive Diaw within the next couple days if they can’t find a trade partner for him. His $7.5MM salary is set to become guaranteed for 2017/18 if he remains under contract beyond Saturday.
Given Diaw’s contract situation, the Raptors’ interest is somewhat confusing. Once the DeMarre Carroll trade is finished, Toronto would have a trade exception big enough to accommodate Diaw’s salary, but that would push the team into the tax, and it’s not clear why the Raptors would be willing to cross back over that threshold for a player who will likely be waived by Utah anyway.
As such, it makes sense that the Raptors would be sending out some salary of their own in any deal involving Diaw. With Carroll ticketed for the Nets and Cory Joseph on the verge of being sent to Indiana, the only salary-dump candidate left on Toronto’s roster is Jonas Valanciunas. However, I’m skeptical that the Jazz would have much interest in him, particularly since acquiring him compromise the team’s ability to finalize deals with Thabo Sefolosha, Jonas Jerebko, and Ekpe Udoh, based on the terms reported.
It’s possible the Raptors are interested in somehow pulling Diaw into the Joseph deal with the Pacers or the Carroll deal with the Nets — neither of those trades has been officially finalized yet. I don’t see any obvious motivation for that either though, so I’d be surprised if the Raptors and Jazz worked out anything involving the French forward.