Warriors Acquire Hawks’ Second-Round Pick
The Hawks have agreed to send their 2012 second-round pick to the Warriors in exchange for cash, according to press releases sent out by both teams. The money will help offset the Hawks' luxury tax contributions, since the team was unable to get under the tax threshold by shedding salary today.
In addition to holding its own pick, Atlanta also possesses the Suns' second-round pick, so the lesser of the two selections will be conveyed to Golden State.
Rockets Acquire Derek Fisher
The Rockets have acquired Derek Fisher from the Lakers in exchange for Jordan Hill, according to Jonathan Feigen of the Houston Chronicle (on Twitter). Houston also receives the first-round pick in the Lakers acquired from Dallas in December's Lamar Odom trade, tweets Adrian Wojnarowski of Yahoo! Sports.
While the Lakers ended up moving both of their 2012 first-rounders in this trade and today's Ramon Sessions deal, they were able to upgrade their roster and improve their future cap situation. Fisher and Luke Walton were both under contract for multiple years, while Hill and Sessions could both come off the books at season's end.
The Rockets will explore a buyout, but could use the point guard depth for the time being with Kyle Lowry out, tweets Wojnarowski.
Lakers To Acquire Ramon Sessions
1:39pm: The Lakers will also send Jason Kapono to the Cavaliers in the trade, tweets Wojnarowski.
12:32pm: The Lakers and Cavaliers have agreed to a trade that will send Ramon Sessions to Los Angeles for a first-round pick, tweets Brian Windhorst of ESPN.com. According to Jason Lloyd of the Akron Beacon Journal, the Lakers will also receive Christian Eyenga in the deal, and will send Luke Walton to the Cavs. The first-rounder is the Lakers' 2012 pick, and will be top-14 protected (Twitter link). The Cavs also gain the option of swapping the Heat's 2013 first-round pick for the Lakers' '13 first-rounder, depending on which is higher, says Lloyd (Twitter link).
The pairing of the Lakers, who badly needed point guard help, and Sessions, who was stuck behind Kyrie Irving in Cleveland, seemed inevitable for weeks. When I examined Sessions as a trade candidate on February 2nd, I said I could see the Lakers eventually acquiring the point guard for a protected first-round pick.
By trading Walton in the deal, the Lakers avoid having to use their Lamar Odom trade exception to acquire Sessions. That $8.9MM exception is still available for another deal, perhaps for Michael Beasley, who is still drawing interest from L.A., according to Alex Kennedy of HoopsWorld (via Twitter).
The price the Cavs pay for adding another first-round pick for this year's draft is taking on Walton, who will be due $6MM+ next season after his trade kicker takes effect. For the Lakers, Sessions holds a player option worth $4.55MM for next season, while Eyenga is still on his rookie contract.
Before making the move for Sessions, the Lakers were discussing D.J. Augustin with the Bobcats, reports Yahoo's Adrian Wojnarowski (via Twitter).
Spurs, Warriors Swap Jefferson, Jackson
The Spurs and Warriors have agreed to a trade that will send Richard Jefferson and T.J. Ford to Golden State and Stephen Jackson to San Antonio, reports Marc J. Spears of Yahoo! Sports (via Twitter). The Warriors will also receive a conditional first-round pick in the deal, according to Marcus Thompson II of the Bay Area News Group.
Jackson, who was acquired by the Warriors earlier this week, is a favorite of Spurs coach Gregg Popovich. Unlike Jefferson, who still has two years and $21MM+ remaining on his deal after this season, Jackson will be entering the final year of his contract this summer. He's set to earn just over $10MM next season.
Ford recently announced his retirement, so he was only included in the trade for financial purposes.
Rockets Acquire Marcus Camby
The Rockets have acquired Marcus Camby from the Trail Blazers, tweets Marc J. Spears of Yahoo! Sports. According to Adrian Wojnarowski of Yahoo! Sports, the Blazers will receive Jonny Flynn, Hasheem Thabeet, and a second-round pick (originally the Timberwolves') in exchange for Camby (Twitter links).
Camby is in the final year of his contract, with a cap figure that exceeds $11MM+. Flynn and Thabeet are also on expiring deals, totaling a little over $8.5MM. So Houston should receive about $2.5MM in summer savings, along with a player who should see more consistent minutes.
According to Ken Berger of CBS Sports (via Twitter), the Rockets had been pursuing Camby for a while. Berger says if Camby was to be traded, Houston was his preferred destination.
Nets To Acquire Gerald Wallace
The Blazers and Nets have reached an agreement on a trade that will send Gerald Wallace to New Jersey, reports TNT's David Aldridge (via Twitter). The Blazers will receive Mehmet Okur, Shawne Williams, and a top-three protected 2012 pick. Yahoo's Adrian Wojnarowski, who first reported the two sides were close, confirms the agreement (via Twitter).
After finding out Dwight Howard would not be available via free agency this summer, the Nets quickly turned to trades that would add help for Deron Williams. The price for Wallace seems awfully high though — while the Nets were able to move Okur's expiring $10.89MM contract and avoid Williams exercising his $3.1MM option for next season, the first-round pick seems to be the Nets' own selection. While New Jersey will retain the pick if it lands in the top three, it's very possible that the Blazers will receive a top-ten pick in what's expected to be a strong draft. The Nets currently have the sixth-worst record in the league (15-29).
Wallace has a $9.5MM player option for next season, which I assume the Nets will want him to exercise. Perhaps the two sides could even agree to void the player option in favor of working out a longer-team deal with a reduced 2012/13 cap figure. Even with Wallace on the books for next year, the team should have a decent amount of cap space to re-sign Brook Lopez and perhaps sign another free agent to entice Williams to stay.
Dwight Howard Waives Early Termination Option
True to his word, Dwight Howard has waived his early termination option, locking him into his contract for next season, manager Kevin Samples tells Josh Robbins of the Orlando Sentinel (Twitter link). Chris Broussard of ESPN.com received a text from Howard himself confirming the news (Twitter link).
SI.com's Sam Amick (all Twitter links) says the league has agreed to execute the paperwork without the verification letter from agent Dan Fegan that would usually be required. The Magic have announced, via press release, that they'll hold a press conference at 1:00pm local time.
Zach Lowe of SI.com examines the ripple effect that Howard's official opt-in will cause across the league.
Sixers Acquire Sam Young
The 76ers have acquired Sam Young from the Grizzlies, reports Bob Cooney of the Philadelphia Daily News. Memphis receives the rights to former second-rounder Ricky Sanchez, who is currently playing in Argentina, reports Ronald Tillery of the Memphis Commercial Appeal. The Sixers confirmed the move in a press release.
"Sam preferred another location because he wasn’t playing," Memphis GM Chris Wallace told Tillery. "Sam earned his keep around here and is clearly an NBA player. He was a guy who was a big part of us being able to be successful when Rudy Gay went down last year. But teams evolve."
The move isn't entirely unexpected for Memphis, since the team had been sitting barely above the luxury tax line. Chris Broussard of ESPN.com reported yesterday that the Grizzlies were looking to move Young to sneak below that threshold. Sanchez, who was drafted with the 35th overall pick in 2005, "will never wear a Grizzlies uniform," according to Tillery. Tillery also points out (via Twitter) that the Grizzlies could use the savings to pursue Gilbert Arenas.
For the Sixers, they'll likely take on Young's salary using part of the traded player exception they acquired when they dealt Marreese Speights to Memphis earlier this season. Young's cap figure for this season, the final year of his contract, is $947,800.
In 21 games for the Grizzlies this year, Young has played just 11.4 MPG, averaging 3.5 PPG and 10.6 PER.
Bulls Re-Sign Mike James To 10-Day Contract
The Bulls have re-signed Mike James to a second 10-day contract, reports K.C. Johnson of the Chicago Tribune. The signing has been officially announced by the team in a press release.
With Derrick Rose's status uncertain for tonight's game due to groin soreness, James will provide backcourt depth. Though this will be James' third stint with the Bulls in 2011/12, the team won't be required to sign him for the rest of the season, since the 36-year-old had only signed one 10-day contract so far.
Despite only appearing in seven games for the Bulls this year, James has been productive in limited action, averaging 6.1 points and 3.6 assists in 12.3 minutes per game.
Warriors, Bucks Swap Ellis, Bogut In 5-Player Deal
The Warriors and Bucks have completed a deal to send Andrew Bogut and Stephen Jackson to Golden State for Monta Ellis, Ekpe Udoh and Kwame Brown. Both teams confirmed the move today via press release.
After this season, Ellis is owed $11MM annually over the next two seasons, with an opt-out for the second year. Udoh is still in the midst of his rookie contract that will be guaranteed until he is eligible for a team option after the 2012/13 season. Brown and his $6.7MM salary falls into the deal as an expiring contract. Bogut is still owed a total of $27MM through the end of the 2013-14 season, and Jackson has one year remaining after this season that will pay him approximately $10MM. Each side of the deal totals about $21MM in 2011/12 cap figures, so neither club is adding or reducing salary for this season.
For the Warriors, dealing Ellis gives head coach Mark Jackson the opportunity to start rookie Klay Thompson at shooting guard and him more significant minutes to develop. The deal also hinges on the health of Andrew Bogut. If he can fully recover from a broken ankle suffered earlier in the season, Bogut becomes the mainstay at center for Golden State after Jackson experimented with Andris Biedrins and Udoh in the starting lineup.
Stephen Jackson returns to the team in which he had a tumultuous exit in 2009, but with reports of unhappiness in Milwaukee due to an irreparable relationship with coach Scott Skiles, he finds himself out of that situation. According to Marc J. Spears of Yahoo! Sports, sources say that the Warriors do not plan to buy out Jackson's contract (Twitter link).
The deal almost certainly takes the Warriors out of the running for both Dwight Howard and this year's playoffs. However, the short-term downgrade to the roster improves Golden State's chances of keeping its 2012 first-round pick, which will head to the Jazz unless it lands in the top seven.
Milwaukee receives a dynamic and explosive combo guard in Ellis, who had been averaging 21.9 PPG, 6 APG, and 1.5 SPG in 36.9 MPG. It will be interesting to see how Skiles handles the shots between Ellis and Brandon Jennings, as the Bucks traded two players that are not currently in the rotation for Ellis' 19 FGA (Jennings currently averages 17 FGA). Udoh, formerly picked by the Warriors with the 6th overall selection in 2010, is an intriguing prospect for the Bucks moving forward. Most importantly, it may help cover up the potential loss of forward Ersan Ilyasova to free agency, who recently said that he may leave the Bucks in the offseason for whoever offers the most money. It is questionable if Brown fits in Milwaukee's long term plans, as he is due to be out for the rest of the year while recovering from a chest injury and is slated to become a free agent this summer.
The trade was first reported by Charles Gardner of the Milwaukee Journal Sentinel and then tweeted by Adrian Wojnarowski of Yahoo! Sports.