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Kings Agree To Buyout With Jimmer Fredette

February 27th, 2014 at 5:52pm CST by Chuck Myron

5:52pm: Fredette is “strongly leaning” towards joining the Bulls once he clears waivers, according to David Aldridge of NBA.com (Twitter link).

3:26pm: The Kings and Jimmer Fredette have reached agreement on a buyout, the team announced. Sacramento’s press release doesn’t specifically state that the team has placed him on waivers, but presumably that’s the case. The Kings and Fredette’s representatives with Octagon Sports have been engaged in buyout talks this week after Sacramento failed to find a new home for its former 10th overall pick before the trade deadline.

Fredette will likely become a free agent on Saturday, and the Cavs and Bulls appear to be the teams with the most significant interest in signing him. Fredette is reportedly cool on the idea of joining Cleveland and is strongly considering latching on with a playoff team from the Eastern Conference. Chicago is pursuing others on the buyout market, but its best shot at landing a player of note appears to be with Fredette. The Grizzlies had interest, but Fredette was leaning against signing with Memphis in the hours before the Grizzlies claimed Beno Udrih off waivers Thursday, likely short-circuiting any chance of Fredette ending up with them.

Sam Amico of Fox Sports Ohio nonetheless hears the Grizzlies, as well as the Nuggets, are intrigued, and he names the Jazz a likely suitor as well. The Cavs are a long shot, according to Amico.

It’s not clear how much of Fredette’s $2,439,840 salary he’s giving up in the arrangement. The Kings declined the fourth-year option on his rookie scale contract, so he was due to hit free agency this summer. He never lived up to his draft position in Sacramento, where he saw his playing time shrink with each passing season. Still, he’s shooting 49.3% from three-point range with a 16.5 PER this season in 11.3 minutes per game.

“This was a very tough decision, but we’re confident that the agreement reached today represents the most productive path forward, both for Jimmer and the Kings,” Sacramento GM Pete D’Alessandro said. “Echoing a sentiment that everyone who knows him appreciates about Jimmer, he’s a tremendous person and a consummate professional. We thank him for the meaningful contributions he made to the team and in the Sacramento community. On behalf of an entire organization, we wish him nothing but great success in the future.”

The move opens a roster spot, and a report earlier this week indicated the team was likely to fill it with a 10-day contract for fellow former first-round pick Royce White. Still, coach Michael Malone said Thursday that such a move wouldn’t be happening soon.

Eddie Scarito contributed to this post.

Bucks Waive Caron Butler In Buyout Deal

February 27th, 2014 at 4:43pm CST by Chuck Myron

4:43pm: The Bucks have officially waived Butler, the team announced. There’s no mention of a buyout arrangement in the statement, but presumably that’s what took place. He’s set to become a free agent on Saturday.

3:56pm: A source tells Charles F. Gardner of the Journal Sentinel that Butler’s parting of ways with the Bucks is official, and Ramona Shelburne of ESPNLosAngeles.com hears he’ll be placed on waivers today (Twitter links). Still, there’s been no official announcement from the team.

8:01am: Caron Butler and the Bucks have reached agreement on a buyout, reports Adrian Wojnarowski of Yahoo! Sports, who casts the Thunder and Heat as the favorites to sign the small forward once he clears waivers. The Bulls and Spurs are also in the running, according to Wojnarowski (Twitter links). Butler will hit waivers once Milwaukee makes the move official, and presumably will become a free agent 48 hours later.

The Heat appeared to be the front runners for their former lottery pick when news broke earlier this week that Butler and the Bucks were talking about a buyout, but it appears they have strong competition from Oklahoma City. The Spurs have also previously been linked to Butler, but the Bulls appear to be a newcomer to the pursuit.

The 33-year-old Butler was in trade chatter leading up to the deadline, and while one report indicated the Bucks would be reluctant to give up the Wisconsin native, another suggested the team was ready to part ways, either via trade or buyout. Milwaukee acquired Butler in a trade with the Suns in the offseason, though he never played for Phoenix, which traded for him earlier in the summer in a deal with the Clippers. Butler’s expiring contract calls for him to make $8MM this season, though it’s unclear how much of that the Raymond Brothers client is giving up in the buyout.

Hawks Sign Mike Muscala

February 27th, 2014 at 12:02pm CST by Chuck Myron

THURSDAY, 12:02pm: Atlanta has officially signed Muscala, the team announced. The release of Dexter Pittman cleared a roster spot enabling the move. The team doesn’t specify whether it’s a 10-day contract or a pact for the rest of the season.

TUESDAY, 8:31am: The Hawks indeed bought out Muscala’s deal with Obradoiro, according to Chris Vivlamore of the Atlanta Journal-Constitution, though it’s not clear just how much the Hawks shelled out. It’s unlikely that it was more than the Excluded International Player Payment Amount of $575K, since anything over that figure would count against team salary and come out of Muscala’s paychecks from the Hawks. The deal between Muscala and Obradoiro was believed to be a one-year contract, Vivlamore adds.

7:39am: The Hawks will sign 2013 second-round pick Mike Muscala, reports Javier Maestro of Encestando. Sportando’s Emiliano Carchia provides translation and further confirmation from agent Misko Raznatovic that the former Bucknell center is on his way to Atlanta. Jorge Sierra of HoopsHype reported Monday that the Hawks had been speaking with Spanish club Obradoiro, for which Muscala has been playing, but Atlanta had yet to extend an offer at that point.

It’s not clear how much money, if any, the Hawks had to pony up to buy Muscala out of his Spanish contract. Muscala signed with Obradoiro this summer, a few months after the Mavs drafted him 44th overall and traded him to the Hawks on draft night. The deal is likely for at least the rest of the season, probably with one more non-guaranteed season tacked on. If it were just a 10-day arrangement, Atlanta would lose his draft rights and he’d be free to sign with any NBA team at the end of the 10 days.

Muscala has averaged 14.6 points and 7.8 rebounds in 26.7 minutes per game in the Spanish ACB league this year. Other European teams had interest in him, but Obradoiro turned away their pursuit, according to Sierra. Atlanta has the NBA rights to another center playing in Spain, but the Hawks can’t sign Lucas Nogueira, the 16th overall pick from this past June, until this coming summer. That’s because the Hawks took his cap hold off their books to clear cap space before the season started.

The Hawks signed Dexter Pittman to a 10-day contract on Saturday, filling their final roster spot, so they’ll have to wait for Pittman’s contract to run out, cut him loose early, or waive a guaranteed contract to facilitate Muscala’s signing.

Grizzlies Claim Beno Udrih Off Waivers

February 27th, 2014 at 11:51am CST by Chuck Myron

THURSDAY, 11:51am: Memphis has officially announced its waiver acquisition of Udrih.

WEDNESDAY, 4:13pm: The Grizzlies have claimed Beno Udrih off waivers, reports Marc Stein of ESPN.com (Twitter link). Stein also notes that Metta World Peace has cleared waivers. Memphis absorbs Udrih’s minimum salary, and any giveback the point guard agreed to as part of a buyout agreement with the Knicks is now likely null and void. New York no longer owes Udrih any money, since Memphis has assumed his one-year contract.

World Peace is making slightly more than the minimum and has a player option for next season, so it was far less likely any team would put in a claim. World Peace is now a free agent, and his top choices are reportedly to sign with the Thunder, Spurs or Heat. It’s unclear if any of those teams has mutual interest. The Clippers are reportedly interested, though it appears their top priority is pursuing Danny Granger.

The Grizzlies add a cap hit of $884,293 to their books, likely pushing them over the luxury tax threshold. That wouldn’t have been the case if they had waited to sign Udrih as a free agent after he cleared waivers. The Nuggets and Wizards showed interest in trading for Udrih before the deadline, but we didn’t hear any reports about post-deadline interest in the 31-year-old point guard.

Memphis was willing to make a deadline trade that put the team slightly over the luxury tax, according to TNT’s David Aldridge, and that’s indeed what they appear to have done with their claim of Udrih. Ronald Tillery of The Commercial Appeal believes the move signals a lack of confidence in rookie Nick Calathes to handle the backup point guard duties for the rest of the season (Twitter link).

Hawks Release Dexter Pittman

February 27th, 2014 at 11:46am CST by Chuck Myron

The Hawks have terminated their 10-day contract with Dexter Pittman, the team announced. Presumably, the move is to make way for the signing of Mike Muscala, who reportedly agreed to a deal earlier this week. Pittman becomes a free agent immediately, since 10-day signees don’t have to go through waivers.

Atlanta signed Pittman Saturday, and his contract wasn’t set to expire until Monday night. He appeared in two games for a total of just three minutes, missing his only shot. The Impact Sports Basketball client has played more extensively this season with the D-League’s Austin Toros, notching 9.5 points and 6.0 rebounds in 17.5 minutes per game.

Knicks Sign Earl Clark To 10-Day Contract

February 27th, 2014 at 9:35am CST by Chuck Myron

THURSDAY, 9:35am: The signing is official, the team announced via Twitter.

TUESDAY, 8:57pm: Clark’s deal with New York is a 10-day contract, according to Chris Broussard of ESPN (Twitter link).

3:58pm: The Knicks and free agent forward Earl Clark are finalizing an agreement on a new deal, according to Adrian Wojnarowski of Yahoo! Sports. It’s unclear whether it’ll be a 10-day contract or an arrangement that covers the rest of the season. Wojnarowski first reported earlier this afternoon that the team was in pursuit, and Frank Isola of the New York Daily News noted a deal was a strong possibility after Clark met with coach Mike Woodson and GM Steve Mills.

New York has been linked to Ike Diogu, Lester Hudson, Tiny Gallon, Dahntay Jones and Jimmer Fredette in the past two days as the team has sought to fill a pair of roster spots opened via buyout agreements with Metta World Peace and Beno Udrih. Clark has played both forward positions over the past couple of seasons. The 14th overall pick in the 2009 draft had some of the best performances of his career last year with the Lakers, but he regressed after signing a two-year, $8.5MM deal with Cleveland in the summer. The Cavs traded him to the Sixers at the deadline, who waived him less than 24 hours later.

It’ll be a prorated minimum-salary pact for the Kevin Bradbury client, since the Knicks can’t offer anything else, but New York is in line to pay 3.25 times the amount of his cap hit in luxury taxes on the deal. Clark will likely forfeit a tiny portion of his $4.25MM guaranteed salary from the Cavs, thanks to Cleveland’s set-off rights.

Knicks Sign Shannon Brown To 10-Day Deal

February 27th, 2014 at 9:34am CST by Ryan Raroque

THURSDAY, 9:34am: The Knicks have officially announced the signing (on Twitter).

TUESDAY, 8:53pm: Broussard tweets that Brown will be playing on a 10-day contract, which gives New York approximately seven games to get a good look at him.

Earlier today, New York had been labeled as a “team to watch” in the race for Jimmer Fredette (who is reportedly discussing a buyout with the Kings) in addition to Dahntay Jones and Tiny Gallon. With Brown and Earl Clark signed, the Knicks roster is now at 15.

8:45pm: The Knicks have agreed in principle to sign Shannon Brown to a 10-day contract, reports Chris Broussard of ESPN (via Twitter). This news comes shortly after ESPN New York’s Ian Begley reported that the team was showing strong interest in the former Michigan State product.

Sixers Reach Buyout Deal With Danny Granger

February 26th, 2014 at 10:38pm CST by Chuck Myron

10:38pm: Granger’s representatives were present at the Clippers/Rockets game to meet with Los Angeles officials, per Shelburne (Twitter link). Shelburne adds that the Rockets’ push to sign Granger could have something to do with the appearance.

5:05pm: Stein and ESPN.com colleague Ramona Shelburne suggest in their full story that the Clippers are the favorites, and add that Granger is seeking a championship contender as well as playing time.

4:09pm: The Sixers and Danny Granger have reached agreement on a buyout, the team has announced, and Philadelphia has placed the 30-year-old on waivers. David Aldridge of NBA.com first reported the news. The Clippers have emerged as front runners for Granger, writes Adrian Wojnarowski of Yahoo! Sports. Aldridge names the Clippers, Rockets, Bulls, Heat and Spurs as Granger’s preferred destinations, reiterating his report from earlier today. Marc Stein of ESPN.com casts it as a battle between the Clippers and the Spurs (Twitter link).

“Given Danny’s future goals and his desire to pursue them, we worked to fulfill his requests and have come to a resolution that we feel is mutually beneficial to both Danny and our organization,” Sixers GM Sam Hinkie said in a statement. “We wish Danny the best in the next phase of his career.”

The Pacers traded Granger to the Sixers at the deadline, but Granger was upset upon hearing the news. The Sixers hesitated as they pondered retaining the former All-Star for a possible sign-and-trade in the summer, but they wound up acquiescing to his desires. It’s not clear how much money Granger is forfeiting from his more than $14MM salary.

The Creative Artists Agency client figures to be the prize of the buyout market, even though one GM told Sam Amico of Fox Sports Ohio that he thinks the ninth-year veteran is “done” after injuries that have plagued him the last two seasons. Chris Mannix of SI.com reiterates Stein’s report that the Spurs and Clippers are the front runners, having heard that from executives with other clubs (Twitter link).

Kings Likely To Sign Royce White

February 26th, 2014 at 8:42pm CST by Chuck Myron

8:42pm: Coach Michael Malone tells Jason Jones of The Sacramento Bee that while the Kings are indeed interested in White, they won’t be signing him “soon” and that nothing is imminent (via Twitter). It’s unclear if this just in line with the wait for a roster spot to open upon Fredette’s finalized buyout, or if more substantial time could pass before Sacramento pulls the trigger on a deal with White.

1:49pm: The Kings will probably sign Royce White to a 10-day contract, two sources tell Sam Amick of USA Today. White has worked out in front of team officials, as Jonathan Feigen of the Houston Chronicle reported Tuesday. Since the Kings just filled their final roster spot with the signing of Orlando Johnson to a 10-day deal, White would most likely sign after the team finalizes a buyout with Jimmer Fredette.

A deal with the Kings would open the door for White to see the first regular season action of his career. The Rockets made him the 16th overall pick in 2012, but he had a well-publicized spat with the team over its accommodations, or lack thereof, for his mental health issues. Houston traded him to the Sixers this past summer, and Philadelphia waived him before opening night, swallowing his guaranteed rookie scale contract that pays the 22-year-old about $1.7MM this year.

White said in December that “quite a few” NBA teams were interested in him, and that he’d prioritize signing with a club that had an open mind about his mental health advocacy. Sacramento begins a seven-game road trip against mostly Eastern Conference teams on March 5th, but White also said in December that his fear of flying has been “overblown.”

The former Iowa State Cyclone recently changed agents, dropping ASM Sports to join George Bass of AAI Sports, as our Agency Database shows. He appeared in 16 games in the D-League on assignment from the Rockets, and he’s played in the preseason for Houston and Philadelphia, but more than 70% of Hoops Rumors readers who voted shortly after his release from the Sixers believed he would never make it into a regular season game.

Kings Sign Orlando Johnson To 10-Day Pact

February 26th, 2014 at 1:47pm CST by Ryan Raroque

WEDNESDAY, 1:47pm: The team has officially announced the deal.

TUESDAY, 9:26pm: The Kings will sign guard Orlando Johnson to a 10-day contract tomorrow, according to Sean Cunningham of News10 Sacramento (Twitter link passed along from Jason Jones of the Sacramento Bee). The 24-year-old Monterey native last played for the Pacers, averaging 2.4 PPG and 9.0 MPG in 38 games this season.

Coincidentally, Johnson had been selected by the Kings during the second round of the 2012 draft but was quickly sent to the Pacers for cash considerations on a draft day deal. Indiana waived the 6’5 guard last week in order to make their trade for Evan Turner work.