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Hawks Waive DeShawn Stevenson

August 2nd, 2013 at 4:11pm CST by Zachary Links

The Hawks have waived DeShawn Stevenson, a league source tells Chris Vivlamore of the Atlanta Journal-Constitution (on Twitter). The move clears the way for Atlanta to officially sign DeMarre Carroll to a to a two-year, $5MM deal.

The guard signed a three-year pact with the Hawks last summer which paid him $2,240,450 per season, though only the first season was guaranteed. The veteran, known primarily for his tough defense, averaged 5.1 PPG and 2.2 RPG in 20.7 minutes per game for the Hawks last season.

In 13 seasons for the Jazz, Magic, Wizards, Mavericks, Nets, and Hawks, Stevenson has career averages of 7.2 PPG and 2.2 RPG.

Suns Draftee Alex Oriakhi Signs In France

August 2nd, 2013 at 2:38pm CST by Zachary Links

Suns second round pick Alex Oriakhi has signed with France's CSP Limoges, according to Emiliano Carchia of Sportando. Phoenix drafted the center with the 57th overall pick in the 2013 Draft.

Oriakhi began his collegiate career at UConn where he served as the starting center for the Huskies' 2010/11 championship team. Then, after a year in which he saw a diminished role with the addition of Andre Drummond and the Huskies were banned from postseason play for 2013, he transferred to Missouri. The big man averaged 11.2 PPG, 8.4 RPG, and 1.6 BPG in his final year on campus.

Magic Waive Al Harrington

August 2nd, 2013 at 1:54pm CST by Zachary Links

The Magic announced that they have put Al Harrington on waivers. Harrington's contract called for him to earn a $7.149MM next season and $7.6MM in 2014/15, but both seasons were only half-guaranteed.

Orlando will now be on the hook for the amount owed to him, less whatever he signs for elsewhere. The veteran has career averaged of 13.7 PPG and 5.7 RPG across 15 NBA seasons but played just ten games with the Magic last season.

Last week, Harrington acknowledged that he was likely to be traded or bought out by the Magic, but explained that he feels healthier than ever and is ready to contribute for whatever team he plays for in 2013/14.

"Whatever situation I can get to where I can help a team win, that's what I want to do," Harrington said. "I don't want to play 36 minutes or none of that. Play 20, 25 minutes, just help mentor the young guys and stuff like that."

Harrington is a client of Relativity Sports and is represented by Dan Fegan, according to the Hoops Rumors Agency Database.

Rockets Re-Sign Francisco Garcia

August 1st, 2013 at 8:41pm CST by Zachary Links

8:41pm: Jonathan Feigen of the Houston Chronicle writes that the second year of the deal is a team option, instead of a player's option as had been originally reported. Team options on veteran contracts are rare, so perhaps year two is simply non-guaranteed.

AUGUST 1ST, 6:37pm: Houston GM Daryl Morey took to Twitter to announce Garcia's official signing, which had been held up as Garcia traveled overseas.

JULY 6TH: The Rockets have re-signed guard Francisco Garcia to a two-year, $2.6MM deal, according to Adrian Wojnarowski of Yahoo Sports (on Twitter). Marc Stein of ESPN.com (Twitter link) first reported that the two sides were nearing agreement. Garcia will have a player's option in the second year of his new deal and will also have bird rights after year one, Wojnarowski tweets.

Houston decided against picking up their costly club option on Garcia but still wanted him back in the fold. Rather than pay the 31-year-old swingman $6.4MM, the club will get him back for a fraction of the price. Garcia had interest from teams looking for a solid wing defender who could also shoot it from three point range comfortably, including the Knicks and Lakers.

As shown in the Hoops Rumors Agency Database, Garcia is represented by Aaron Goodwin.

Celtics Release Shavlik Randolph

August 1st, 2013 at 6:01pm CST by Luke Adams

6:01pm: The team officially confirmed the move, via press release.

4:48pm: The Celtics have informed Shavlik Randolph that they won't be picking up his team option, according to Jeff Goodman of ESPN.com (via Twitter). Randolph's contract doesn't technically include a team option, but his 2013/14 salary is non-guaranteed, which amounts to the same thing. That salary was set to become fully guaranteed if the big man remained on Boston's roster beyond today.

Randolph, 29, inked a pair of 10-day deals with the Celtics in 2012/13 before signing with the team for the remainder of the season, as our 10-day contract tracker shows. The former Duke Blue Devil appeared in 16 contests for Boston, averaging 4.2 PPG and 4.4 RPG. He'll become an unrestricted free agent, assuming no team claims him on waivers.

By cutting Randolph, the Celtics will reduce their roster count to 15 players, the maximum amount a team can carry during the regular season.

Bucks Sign Nate Wolters

August 1st, 2013 at 3:06pm CST by Luke Adams

The Bucks have officially signed second-round pick Nate Wolters to a contract, the team announced today (Twitter link). Terms of the agreement aren't yet known, but the team has a good chunk of cap space left over after sending Brandon Jennings to Detroit, so Wolters could receive more than the minimum.

Wolters, 22, was part of a confusing series of draft-night trades that ultimately saw him picked 38th overall and dealt to the Bucks. The 6'5" guard spent four seasons at South Dakota State, averaging 22.3 PPG and 5.8 APG in 33 contests during his senior year. The Jared Karnes client will be part of an overhauled Milwaukee backcourt that includes Brandon Knight, O.J. Mayo, Gary Neal, and Luke Ridnour.

Mike Muscala Signs With Obradoiro

August 1st, 2013 at 8:44am CST by Luke Adams

Second-round pick Mike Muscala has signed overseas with Blusens Monbus Obradoiro of the ACB League, according to the team. Muscala, who was drafted by the Hawks this June, confirmed the news himself, via Twitter.

Muscala, 22, was acquired by the Hawks as part of a draft-night deal that also landed the team Jared Cunningham and the No. 16 pick. The 44th overall pick played four seasons at Bucknell, averaging a double-double (18.7 PPG, 11.1 RPG) in his senior year.

On the heels of Erick Green's deal with Siena, Muscala becomes the latest American draftee to head overseas while his NBA team hangs on to his rights. Depending on the terms of Muscala's agreement, Atlanta should have the opportunity to bring him back stateside next summer.

Lakers Expected To Sign Marcus Landry

July 31st, 2013 at 7:56pm CST by Alex Lee

Marcus Landry is expected to sign a deal with the Lakers to attend training camp that contains a "small guarantee," tweets Ramona Shelburne of ESPN Los Angeles. While she adds that it's more of a camp invite than a contract, Shelburne says the team has legitimate interest in the former Wisconsin Badger.

Eric Pincus of the L.A. Times, who predicted the signing last week, tweets the deal is not yet official but he fully expects Landry to be in Lakers camp and to have a realistic shot at a roster spot. With Elias Harris in the fold and the not-yet-signed Ryan Kelly a near lock to make the roster, Pincus opines that Landry could make the team as the 14th man if the Lakers don't add a veteran forward (Twitter links here).

Marcus, the younger brother of Carl Landry, appeared in 18 games in the 2009/10 season with the Knicks and Celtics. He has since bounced between the D-League and Europe, and played with the Reno Bighorns of the D-League last season.

Mavericks Sign Devin Harris

July 31st, 2013 at 4:11pm CST by Luke Adams

4:11pm: Harris' new deal with the Mavs is a one-year pact worth the veteran's minimum, according to Tim MacMahon of ESPNDallas.com.

2:57pm: The Mavericks have officially signed Devin Harris to a contract, the team announced today in a press release. Harris had previously reached an agreement on a three-year, $9MM deal with Dallas, but the team nixed it after news broke that the veteran guard required toe surgery.

A new deal between Dallas and the Excel Sports Management client comes as no surprise, since the team still had interest in bringing him aboard even as the two sides mutually agreed to call off the initial arrangement. Owner Mark Cuban essentially confirmed a couple weeks ago that the Mavs and Harris both still expected to finalize a deal, albeit a restructured one.

The financial terms of the latest agreement are unclear, but it looks as if the Mavs only have the flexibility to offer minimum-salary contracts after using all of their cap space and most of their room exception. I speculated after the first agreement fell through that a two-year minimum salary contract with a player option for the second season might work for both sides.

Harris, who spent the first three and a half seasons with the Mavs, appeared in 58 games for the Hawks last year, averaging 9.9 PPG and 3.4 APG while spending time at both guard positions. Since Jose Calderon and Monta Ellis look like the probable starters in the Mavs' backcourt, Harris figures to be called on to play both the one and two again next season.

Wizards Sign John Wall To Five-Year Extension

July 31st, 2013 at 4:03pm CST by Luke Adams

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.