Transactions Rumors | Hoops Rumors

Bulls Waive C.J. Watson

By Luke Adams | at July 11, 2012 11:06 am

Faced with a decision on his 2012/13 contract, the Bulls officially waived C.J. Watson last night, tweets Alex Kennedy of HoopsWorld. The move clears Watson from the team's books for the coming season, assuring that they won't have to pay his $3.2MM salary.

If another team is willing to take on Watson's $3.2MM figure, he can be claimed off waivers. However, it's more likely that the 28-year-old guard will clear waivers and become an unrestricted free agent, able to sign with any team. Marcus Thompson of the Bay Area News Group believes Watson could be a fit for the Warriors.

The Bulls also parted ways with Ronnie Brewer, and are still deciding whether to retain Kyle Korver.

0 comments Chicago Bulls Golden State Warriors Transactions C.J. Watson Ronnie Brewer

Hornets Acquire Ryan Anderson In Sign-And-Trade

By Michael Pina | at July 11, 2012 10:40 am

WEDNESDAY, 10:40am: The Magic have officially announced the completion of the Anderson/Ayon sign-and-trade in a press release.

SUNDAY, 3:21pm: The Hornets will acquire Ryan Anderson in a sign-and-trade deal with the Magic, writes Yahoo! Sports columnist Adrian Wojnarowski. Once the moratorium ends, Anderson will agree to a four-year, $36MM deal with New Orleans, and the Magic will receive Hornets center Gustavo Ayon.

Raptors Acquire Kyle Lowry From Rockets

By Luke Adams | at July 11, 2012 10:36 am

WEDNESDAY, 10:36am: The Raptors officially announced in a press release that they have acquired Kyle Lowry in exchange for Gary Forbes and a first-round pick.

THURSDAY, 2:38pm: The pick going to the Rockets will be top-three protected in 2013, top-two protected in 2014 and 2015, and top-one protected in 2016 and 2017, tweets Jerome Solomon of the Houston Chronicle. Solomon adds that if the pick isn't in the lottery, the Raptors will keep it until the next season. If the pick doesn't meet these criteria for five seasons, Toronto's 2018 first-rounder will be sent to Houston no matter where it lands.

1:41pm: The pick headed to Houston will be protected "both ways," says Jonathan Feigen (via Twitter). So the Rockets won't get it if it's too high in the lottery, but also won't be forced to take it if it's too low in the first round.

1:30pm: The Raptors and Rockets are working on something "innovative" involving the first-rounder headed to Houston, tweets Adrian Wojnarowski of Yahoo! Sports. My guess is that it could involve reverse protection — for instance, if the pick falls outside of the top 10, Toronto keeps it, and if it's in the top 10, it's sent to the Rockets. That's just my speculation though.

1:25pm: The Rockets will also acquire Gary Forbes in the deal, tweets Jonathan Feigen.

1:05pm: The Raptors have agreed to send a first-round pick to the Rockets for Kyle Lowry, according to ESPN.com's Chris Broussard (Twitter link). Jonathan Feigen of the Houston Chronicle reports that the first-rounder will likely be a lottery pick, and is part of a package (Twitter links).

After heading into the offseason with one affordable young point guard under contract and another one entering free agency, the Rockets have parted ways with both players. When Goran Dragic agreed to a contract with the Suns yesterday, it appeared Houston may hold on to Lowry, even though he had publicly expressed displeasure with his situation in Houston. But now the team has apparently turned its point guard focus to Jeremy Lin, who is expected to be re-signed by the Knicks.

For the Raptors, who missed out on Steve Nash, Lowry is a younger, more affordable alternative. The 26-year-old, who averaged 14.3 PPG, 6.6 APG, and 18.9 PER in 2011/12, is under contract for two more years for about $12MM total. As Zach Lowe of SI.com tweets, it's one of the more attractive non-rookie contracts in the NBA.

ESPN.com's Marc Stein (via Twitter) first reported that the two sides were "on the verge" of an agreement, after reporting yesterday that Toronto was still making a push for Lowry. Chad Ford of ESPN.com notes (via Twitter) that the Rockets tried to acquire the Raptors' 2012 first-rounder in a deal for Lowry, since they were targeting Andre Drummond or Austin Rivers. The pick in the trade figures to come in the 2013 draft, which will have a weaker class.

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26 comments 2013 NBA Draft Houston Rockets Toronto Raptors Transactions Gary Forbes Kyle Lowry

Heat Sign Rashard Lewis To Two-Year Deal

By Luke Adams | at July 11, 2012 10:03 am

WEDNESDAY, 10:03am: The Heat have officially announced Lewis' signing in a press release.

TUESDAY, 4:06pm: Lewis and the Heat have reached an agreement on the two-year deal, tweets Marc J. Spears.

4:02pm: Lewis' deal with the Heat will be for two years with a second-year player option, reports Marc J. Spears of Yahoo! Sports (via Twitter). Because it would be a minimum-salary deal, the option could only be for the veteran's minimum as well.

20 comments Miami Heat Transactions Rashard Lewis

Knicks Sign James White

By Luke Adams | at July 11, 2012 9:50 am

JULY 11TH, 9:50am: The Knicks have officially confirmed White's deal in a press release.

JULY 4TH, 10:21am: The Knicks' agreement with White is for a one-year contract, his agent confirmed to Al Iannazzone of Newsday (Twitter link). The deal is for the minimum salary, adds Iannazzone (Sulia link).

3 comments New York Knicks Transactions James White

Contract Details: Taylor, Joseph, English

By Luke Adams | at July 11, 2012 9:18 am

Contracts for first-round picks have minimal variance from team to team, as most first-rounders sign for 120% of the rookie scale amount, with two guaranteed years and two team options. However, deals for second-round picks aren't quite as predictable. While second-rounders generally sign for the rookie minimum, which is $473,604 for 2012/13, certain teams are more willing to give guaranteed years than others. Mark Deeks of Sham Sports has tweeted the details on a few contracts for second-round picks, so we'll round them up below….

0 comments Boston Celtics Brooklyn Nets Detroit Pistons Transactions Kim English Kris Joseph Tyshawn Taylor

Griffin Signs Five-Year Extension With Clippers

By Luke Adams | at July 11, 2012 1:08 am

WEDNESDAY, 1:08am: The Clippers announced in a press release that Griffin has officially signed his contract extension. The deal will pay the forward the maximum salary allowed by the CBA.

TUESDAY, 11:34pm: Griffin's five-year deal will have an opt-out after year four, tweets ESPN.com's Marc Stein.

2 comments Los Angeles Clippers Transactions Blake Griffin

Nets Re-Sign Deron Williams

By Michael Pina | at July 10, 2012 11:55 pm

11:55pm: Williams announced via Twitter that he has officially signed his contract to remain with the Nets.

JULY 10TH, 11:47pm: Williams' contract will include an early termination option after the fourth year, tweets ESPN.com's Marc Stein. The point guard is currently finalizing his deal in Las Vegas, says Ken Berger of CBSSports.com (via Twitter).

12 comments Brooklyn Nets Transactions Deron Williams

Knicks Re-Sign J.R. Smith

By Luke Adams | at July 10, 2012 11:38 pm

11:38pm: Smith has officially signed his two-year deal to remain in New York, tweets SI.com's Sam Amick.

12:03am: J.R. Smith and the Knicks have agreed to a contract that will bring Smith back to New York for at least one more year, tweets Ian Begley of ESPNNewYork.com. Smith will sign a two-year deal with a first-year salary of about $2.8MM and a second-year player option, according to Begley.

7 comments New York Knicks Transactions J.R. Smith

Lakers Acquire Steve Nash Via Sign-And-Trade

By Sean Highkin | at July 10, 2012 11:10 pm

JULY 10TH, 11:10pm: The sign-and-trade sending Nash from the Suns to the Lakers in exchange for four draft picks is official, tweets Mike Trudell of Lakers.com. The Lakers confirmed the news in a press release.

JULY 4TH, 8:09pm: Paul Coro of the Arizona Republic tweets that the Suns will receive the Lakers' 2013 and 2015 first-round picks and their 2013 and 2014 second-round picks.

60 comments Los Angeles Lakers Phoenix Suns Transactions Steve Nash

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