Transactions Rumors | Hoops Rumors

Pelicans Sign Jonas Valanciunas To Two-Year Extension

October 20th, 2021 at 6:54pm CST by Luke Adams

6:54pm: The Pelicans have officially announced their new deal with Valanciunas, confirming the extension in a press release.

“We’re delighted to be able to continue our relationship with Jonas,” executive VP of basketball operations David Griffin said in a statement. “His deep desire to remain here and his connection to his team, his coaches and the organization represents everything we want to build towards.”

11:19am: The Pelicans and center Jonas Valanciunas have reached an agreement on an extension that will lock him up through the 2023/24 season, agents Aaron Mintz, Mitch Nathan and Drew Morrison of CAA tell Andrew Lopez of ESPN (Twitter link).

According to Lopez, Valanciunas’ two-year extension will be worth $30.1MM. The big man is under contract for $14MM in 2021/22, so he’s now on track to earn $44.1MM over the next three seasons. Because he had been on an expiring deal, Valanciunas was extension-eligible beyond the October 18 deadline that applied to certain other veterans.

Valanciunas averaged a double-double in each of his last two seasons in Memphis, establishing new career highs in 2020/21 with 17.1 PPG and 12.5 RPG in 62 games (28.3 MPG). The 29-year-old isn’t an elite rim protector and doesn’t shoot many three-pointers, but holds his own on defense and can knock down mid-range jumpers.

The Grizzlies dealt Valanciunas to New Orleans in an offseason trade that sent Eric Bledsoe and Steven Adams to Memphis. Having recently acquired Valanciunas, the Pelicans faced extend-and-trade limits in their contract negotiations, tweets ESPN’s Bobby Marks. They couldn’t offer the former No. 5 overall pick more than a 5% raise on this year’s $14MM salary and couldn’t tack more than two years onto his expiring contract.

Those limits would’ve lifted by the end of the year, but Valanciunas opted for security now rather than waiting to see if he could get a more lucrative deal later in the season or as a free agent in 2022.

This is the second consecutive year in which the Pelicans have traded for a veteran center and then signed him to an extension before seeing him take the court alongside star forward Zion Williamson. The organization will be hoping its commitment to Valanciunas works out better than last year’s deal with Adams did.

As Marks observes (via Twitter), Tomas Satoransky is now the only Pelicans (besides two-way players) who isn’t under contract through at least the 2022/23 season.

Jabari Parker Re-Signs With Celtics

October 19th, 2021 at 8:02pm CST by Alex Kirschenbaum

8:02pm: The Celtics confirmed the return of Parker in a press release.

6:05pm: After being cut by the Celtics earlier this week, backup power forward Jabari Parker has cleared waivers and will ink a new deal with Boston, per Shams Charania of The Athletic (Twitter link).

Parker had been signed to a multiyear agreement with the Celtics last year, but his 2021/22 season salary was only partially guaranteed for $100K. It had been scheduled to be fully guaranteed by the club’s first game of the season. Terms of Parker’s new deal have yet to be disclosed, but presumably it won’t become fully guaranteed until the leaguewide deadline in January.

Parker began the 2020/21 season as a little-used Kings reserve. Sacramento eventually waived him after the former 2014 No. 2 lottery pick failed to crack the club’s rotation. In three games with the Kings, Parker averaged 2.7 PPG and 2.0 RPG in 9.0 MPG.

He then signed with Boston ahead of the Celtics’ postseason push. The 6’8″ power forward appeared in 10 contests last year for Boston, averaging 6.4 PPG and 3.5 RPG in 13.8 MPG.

John Hollinger of The Athletic (Twitter link) notes that, in cutting Parker and adding him back, the Celtics will save significant cash toward his cap and tax impact, since the second year of his previous minimum-salary deal had a higher cap hit than his new one-year deal.

Raptors Exercise 2022/23 Options On Achiuwa, Flynn

October 19th, 2021 at 2:31pm CST by Luke Adams

The Raptors have exercised their third-year team options on big man Precious Achiuwa and guard Malachi Flynn, the team announced today in a press release. Both options are for the 2022/23 season.

Achiuwa, the 20th overall pick in the 2020 draft, averaged 5.0 PPG and 3.4 RPG in 61 games (12.1 MPG) for the Heat as a rookie last season. He was dealt to the Raptors this summer along with Goran Dragic in the Kyle Lowry sign-and-trade. His 2022/23 option will pay him approximately $2.84MM.

Flynn, selected nine spots after Achiuwa at No. 29 in last year’s draft, averaged 7.5 PPG and 2.9 APG in 47 games (19.7 MPG) in his rookie year. He saw most of his playing time in the second half when Lowry was sidelined, and could take on a more regular role this season with the six-time All-Star no longer in the picture, though veteran point guards Fred VanVleet and Dragic are still ahead of him on the depth chart. Flynn’s ’22/23 option is worth about $2.15MM.

Teams have until November 1 to pick up their 2022/23 rookie scale options on first-round picks from the 2019 and 2020 drafts. We’re tracking all the decisions right here.

Mavericks Pick Up Josh Green’s 2022/23 Option

October 19th, 2021 at 2:07pm CST by Luke Adams

The Mavericks have picked up their 2022/23 team option on Josh Green‘s rookie scale contract, the team announced today (Twitter link).

Actually, the Mavs announced that they’ve “extended” Green’s contract, but presumably they mean they’ve exercised that third-year option, since the 2020 first-rounder isn’t extension-eligible. Exercising Green’s option guarantees his $3.1MM salary for the ’22/23 season.

The 18th pick in last year’s draft, Green appeared in 39 games for the Mavericks as a rookie, but played a limited role, averaging 2.6 PPG and 2.0 RPG in 11.4 minutes per contest. The 6’5″ shooting guard will be looking to earn more playing time on the wing this season.

With Green’s third-year option locked in, the Mavs’ next decision on the former Arizona Wildcat will come next October. Dallas will have to decide at that point whether or not to exercise his $4.8MM option for the 2023/24 season. If the club picks up that option, Green will become extension-eligible in 2023.

Rookie scale option decisions for ’22/23 are due by November 1. You can follow all those moves using our tracker.

Warriors Re-Sign Gary Payton II

October 19th, 2021 at 12:21pm CST by Arthur Hill

Gary Payton II, who was waived by the Warriors over the weekend, has been re-signed, the team announced (via Twitter). It’s a non-guaranteed deal, tweets Anthony Slater of The Athletic.

Golden State had a roster spot open after cutting Payton – along with guards Avery Bradley and Mychal Mulder and big man Jordan Bell – on Friday. The team now has a full roster, with 15 players on standard contracts and a pair on two-way deals.

Payton’s former contract would have paid him a $659K guarantee if he had remained on the roster for opening night. Every bit of salary is significant for the Warriors, who are well into tax territory, so bringing back Payton after he cleared waivers allows them to have him on the team and essentially pay him by the day.

The 28-year-old guard joined Golden State in April on a pair of two-way contracts, then was signed for the remainder of the season. He got into 10 games, averaging 2.5 points and 1.1 rebounds in 4.0 minutes per night. He is valued for his defensive skills and could be useful for the Warriors off the bench in certain situations.

Wizards Extend Daniel Gafford Through 2025/26

October 19th, 2021 at 10:40am CST by Luke Adams

10:40am: The Wizards have officially announced Gafford’s extension, confirming the move in a press release.

“We’re very excited to extend Daniel’s contract and continue to see him develop within our system after his athleticism on both ends of the floor made such an immediate impact for us last season,” GM Tommy Sheppard said in a statement. “We are confident that he has the character and drive to keep working hard to improve his overall game and become an even bigger part of what we are building with our team.”

5:49am: The Wizards and big man Daniel Gafford agreed to a three-year contract extension late on Monday night, according to Shams Charania of The Athletic (Twitter link), who reports that Gafford’s new contract will be worth $40.2MM.

Gafford, the 38th overall pick in the 2019 draft, spent the first year-and-a-half of his NBA career with the Bulls and played a modest role for the club, averaging 5.0 PPG, 2.8 RPG, and 1.2 BPG in 74 contests (13.4 MPG). He was sent to the Wizards in a three-team deal at the 2021 trade deadline.

In D.C., Gafford enjoyed a mini-breakout in 23 games down the stretch, putting up 10.1 PPG, 5.6 RPG, and 1.8 BPG in just 17.7 minutes per contest. Although the Wizards acquired Montrezl Harrell in the offseason and will be getting Thomas Bryant back from his ACL tear this winter, the team envisions the athletic Gafford playing a key rotation role at the five.

Gafford’s minimum-salary contract pays him approximately $1.78MM this season and includes a $1.93MM team option for the 2022/23 season. According to Charania (Twitter link), the new deal will run through the ’25/26 season, which suggests Gafford’s option for next season is being exercised as part of the agreement, with the new deal going into effect in ’23/24.

Monday was the last day for extension-eligible players with multiple years left on their current deals to sign new contracts. Since Gafford’s option is being picked up, he fits that bill, which is why he and the Wizards had to beat the clock late last night. If they hadn’t finalized an extension on Monday, Gafford wouldn’t have been eligible to sign a new contract until the 2022 offseason.

A player signing a veteran contract extension is typically eligible to receive up to a 20% raise on the salary in the final year of his current contract. However, someone like Gafford, who is earning a smaller salary, can sign an extension that starts at up to 20% of the NBA’s “estimated average salary” in the year which the extension is signed. This year’s estimated average salary is $10.335MM, so a 20% bump to that figure would get Gafford a starting salary of about $12.4MM and a three-year total in excess of $40MM, assuming 8% annual raises.

Timberwolves Pick Up Options On Edwards, McDaniels

October 18th, 2021 at 6:25pm CST by Dana Gauruder

The Timberwolves have picked up their third-year options on Anthony Edwards and Jaden McDaniels, Shams Charania of The Athletic tweets. Both options are for the 2022/23 season.

The moves were a mere formality as Minnesota guaranteed the contracts of two of the team’s key players from last year’s draft.

Edwards, the No. 1 overall pick, averaged 19.3 PPG, 4.7 RPG and 2.9 APG in his stellar rookie season. He pumped in 23.8 PPG after the All-Star break.

McDaniels, the No. 28 pick, averaged 6.8 PPG and 3.7 RPG. He also ramped up his production after the All-Star break and is expected to start at power forward this season.

Edwards’ salary for 2022/23 will be $10.73MM, while McDaniels will get $2.16MM.

Hawks, Kevin Huerter Complete Four-Year Extension

October 18th, 2021 at 5:54pm CST by Dana Gauruder

5:54pm: Huerter has officially signed his extension, per NBA.com’s transactions log.

4:31pm: The Hawks and Kevin Huerter have agreed to terms on a four-year rookie scale extension worth $65MM, agents Mark Bartelstein and Andy Shiffman tell Adrian Wojnarowski of ESPN (Twitter link). The deal is fully guaranteed, according to Tim Reynolds of The Associated Press (Twitter link).

This continues Atlanta’s trend of locking up its young core. Trae Young signed a five-year max extension in August. John Collins inked a five-year extension this summer and Clint Capela received a two-year extension.

Overall, as ESPN’s Bobby Marks notes (Twitter link), the franchise has handed out more than $400MM in contracts this offseason — Young’s $172.5MM, John Collins’ $125MM, Huerter’s deal and Capela’s $46MM. Atlanta could certainly be confronted with luxury tax issues in future years but the ownership group appears willing to do whatever it takes to keep their top players in the fold.

Huerter, 23, is one of the team’s key wing pieces. He’s a 37.6% 3-point shooter over the first three years of his career. He averaged 11.9 PPG, 3.3 RPG and 3.5 APG last season in 69 regular season games, including 49 starts. During the Hawks’ run to the Eastern Conference Finals, he started 10 of 18 games and averaged 11.1 PPG, 3.8 RPG and 2.8 APG.

Huerter’s extension is similar to the one the Clippers wing Luke Kennard received last winter.

Pacers Sign Malcolm Brogdon To Two-Year Extension

October 18th, 2021 at 5:53pm CST by Luke Adams

5:53pm: The Pacers and Brogdon have officially completed their new deal, according to the transactions log at NBA.com.

2:14pm: The Pacers and guard Malcolm Brogdon have agreed to a two-year, $45MM extension, agent Austin Brown of CAA Sports tells Adrian Wojnarowski of ESPN (Twitter link).

Brogdon’s current contract covers the next two years, so his new deal will begin in 2023/24 and will lock him up through 2025. The 28-year-old is earning $21.7MM in ’21/22 and $22.6MM in ’22/23, for a total of $44.3MM over the next two seasons, so his new two-year extension figures to look pretty similar to the remainder of his current deal.

Brogdon, who will turn 29 in December, has spent the last two seasons in Indiana and enjoyed perhaps the best statistical season of his career in 2020/21. He averaged a career-high 21.2 PPG to go along with 5.9 APG and 5.3 RPG in 56 games (34.5 MPG), posting a shooting line of .453/.388/.864.

There had been some whispers throughout the offseason that Brogdon could be a trade candidate, and his name – as well as Caris LeVert‘s – surfaced in rumors related to the Ben Simmons trade talks between the Sixers and Pacers. However, subsequent reports suggested that Philadelphia wasn’t that enamored by the idea of a package centered around Brogdon and/or LeVert.

Now that he’s signing an extension, Brogdon won’t be a trade option for the Sixers or any other team this season. As Bobby Marks of ESPN tweets, Brogdon’s new deal exceeds the extend-and-trade limits in the Collective Bargaining Agreement, meaning he won’t become trade-eligible for six months. This season’s trade deadline is on February 10.

As we noted this morning, if Brogdon hadn’t finalized an extension today, he wouldn’t have been eligible to sign one until the 2022 offseason, since he still has multiple years left on his current deal.

Bucks Sign Grayson Allen To Two-Year Extension

October 18th, 2021 at 5:52pm CST by Luke Adams

5:52pm: The Bucks have officially signed Allen to his extension, per NBA.com’s transactions log. The deal’s overall base value is lower than $20MM, according to Jim Owczarksi of The Milwaukee Journal Sentinel, who reports that it can be worth up to $19.5MM if certain team and player incentives are met.

4:16pm: The Bucks have reached an agreement on a two-year, $20MM rookie scale contract extension with wing Grayson Allen, agent Mitch Nathan of CAA tells Adrian Wojnarowski of ESPN (Twitter link).

Allen, who is entering his fourth NBA season, had the best year of his career for the Grizzlies in 2020/21, starting 38 of 50 games and averaging 10.6 PPG, 3.2 RPG and 2.2 APG. The former Duke star has knocked down 39.5% of his 3-point attempts over the last two years while steadily increasing his volume.

The Bucks acquired Allen from Memphis over the summer in exchange for Sam Merrill and a pair of future second-round picks. He’ll play a rotation role on the wing in Milwaukee this season and would have been eligible for restricted free agency in 2022 if he hadn’t worked out a deal with the team today.

Allen’s two-year contract will give the Bucks some insurance in the event that they can’t complete a new contract with Donte DiVincenzo, who is also on track for potential restricted free agency next summer if he doesn’t sign an extension today. Allen’s new deal will pay him approximately the equivalent of the full mid-level exception.

Allen will earn just over $4MM this season before his extension goes into effect in 2022/23.