Knicks To Sign J.R. Smith
12:31pm: An official announcement is being delayed due to the FIBA paperwork required to clear Smith, tweets Marc Berman of the New York Post.
11:33am: The Knicks' offer to Smith includes a $2.5MM player option for next season, tweets Adrian Wojnarowski of Yahoo Sports. We heard yesterday that such an option could be a factor in Smith's decision. I don't expect him to exercise it, but it provides some security in case he underperforms or gets injured this season.
While the two sides appear to have reached an agreement, the contract has yet to be signed, adds Wojnarowski (via Twitter).
9:11am: Jeremy Lin and the Knicks will head into tonight's contest against the Hornets with the knowledge that more reinforcements are on the way. The Knicks have agreed to sign J.R. Smith, as Smith himself confirmed on his always-informative Twitter account, tweeting "New York Knicks It Is!" The team is expected to make the deal official later today.
Smith, 26, signed a $3MM contract with China's Zhejiang Golden Bulls during the NBA lockout. The deal didn't include an opt-out clause, and only allowed Smith to return to the NBA when the season ended for his CBA club. Although Smith led the league in scoring, averaging 34.4 PPG, the Golden Bulls finished the season with a 15-17 record and didn't qualify for the postseason. The team played its last regular season game on Wednesday, with Smith returning to America shortly thereafter.
In seven NBA seasons with the Hornets and Nuggets, Smith has averaged 12.5 points and 1.8 threes in 23.9 minutes per game. Smith will bring his dangerous outside shooting (career .371 3PT%) to a Knicks squad that should also have Carmelo Anthony returning soon to join Lin, Amare Stoudemire, and Tyson Chandler.
The Clippers were also recruiting Smith aggressively, but the Knicks had the advantage of having more money available to offer. Smith is expected to receive a pro-rated portion of New York's mini mid-level exception, while Los Angeles could only offer him the pro-rated veteran's minimum, having used their mini MLE to sign Kenyon Martin. As Larry Coon explained yesterday, the difference between the two offers could amount to about $1.7MM.
Frank Isola of the New York Daily News first reported the Knicks were closing in on a deal with Smith, while Newsday's Al Iannazzone confirmed the agreement following Smith's tweet. Marc Berman of the New York Post reported that the team is expected to waive Renaldo Balkman to clear a spot on the roster, though no move has been announced yet.
Knicks Waive Renaldo Balkman
The Knicks have waived Renaldo Balkman, according to a tweet from Balkman himself. The Knicks were carrying a full roster of 15 players, so the move clears a spot for the newly-signed J.R. Smith, who also broke his own news on Twitter today.
Balkman, 27, was initially drafted 20th overall by the Knicks in 2006 before being traded to the Nuggets two years later. He made his way back to New York in last season's blockbuster Carmelo Anthony deal, but didn't see much playing time with the Knicks, appearing in just 17 games for the club over the last year. In 221 career contests, Balkman has averaged 4.1 points and 3.5 rebounds in just under 14 minutes per game.
Balkman's contract includes a guaranteed $1.675MM for 2012/13, so the Knicks will still be in the hook for that full amount unless the 6'8" forward signs elsewhere. If Balkman is not claimed on waivers, he'll become an unrestricted free agent.
Free Agent Rumors: Iverson, Przybilla, Taylor
J.R. Smith's potential deal with the Knicks is the biggest free agent story of the day, but there are plenty of players out there hoping to land contracts of their own. Let's round up a few of the day's free agent updates….
- Allen Iverson is still drawing international interest, though there are conflicting reports on whether A.I. has received official contract offers. According to Sportando, Iverson has offers on the table from Puerto Rican and Venezuelan teams, but ESPN.com's Chris Broussard hears no formal offers have been extended so far. Broussard says Iverson would sign in the Caribbean, South America, or even the D-League, if it could lead to another shot at the NBA.
- Both Iverson reports agree that the next week will be crucial. According to Broussard's source, Iverson will "accept that his forced retirement is permanent" if he hasn't signed by the All-Star break.
- Some teams are backing off of Joel Przybilla, concerned that he's not fully healthy, tweets Chris Tomasson of FOX Sports Florida. Przybilla was thought to be deciding between the Heat and Bulls, but perhaps those clubs are wary of extending formal offers.
- Jermaine Taylor, who appeared in 34 games for the Kings and Rockets last season, has signed with the D-League, according to Scott Schroeder of Ridiculous Upside. Perhaps Taylor's time in the D-League will be short-lived though — Alex Kennedy of HoopsWorld says (via Twitter) the Suns will work out Taylor today, while Marc J. Spears of Yahoo Sports tweets that the 25-year-old will work out for the Clippers tomorrow..
Hornets Re-Sign Lance Thomas
The Hornets have re-signed Lance Thomas to a second 10-day contract, the team announced today in a release. New Orleans initially signed Thomas when the 10-day contract period began last Monday.
Thomas, 23, made his NBA debut with the Hornets earlier this season, appearing briefly in two games. He saw more frequent action during his last week and a half in New Orleans, averaging 2.6 PPG, 3.4 RPG, and 8.8 MPG in five contests.
NBA teams are permitted to sign players to two 10-day contracts during the season. If the Hornets want to retain Thomas when his second 10-day deal expires, they'll need to sign him for the remainder of the season. For more information on 10-day contracts, check out our primer.
Hornets Sign Solomon Jones To 10-Day Contract
The Hornets have officially signed Solomon Jones to a 10-day contract, the team announced today.
Jones was cut by the Clippers last week before the team had to guarantee his contract for the season. Coming into the year, the 27-year-old had averaged 10.1 points and 7.7 rebounds per 36 minutes in his career, though in ten games with the Clips his averages were down to 2.3 and 6.4 respectively. The Hornets will be the fourth NBA team for the 6'10" South Florida product, who was drafted by the Hawks and also spent time with the Pacers.
HoopsHype first reported (via Twitter) that the Hornets would sign Jones to a 10-day contract.
Bulls Sign Mike James To 10-Day Contract
With Derrick Rose's back continuing to plague him, the Bulls announced today via a team release that they've signed Mike James to a 10-day contract.
Rose's nagging injuries prompted the Bulls to sign James once already this season. The 36-year-old appeared in three games, including a nine-point, 10-assist outburst in just 16.5 minutes against the Bobcats. He was waived on January 28th.
ESPN.com's Marc Stein (Twitter links) first reported that the two sides had agreed to a 10-day contract.
Minor Moves: Freeland, Lee, May
We'll track the day's D-League and international transactions of note right here….
- Former Trail Blazers draft pick Joel Freeland has agreed to a contract extension with his Spanish team, according to La Opinion de Malaga (hat tip to Sportando). The report suggests Freeland would have to pay a hefty buyout to Unicaja Malaga if he wanted to get out of the contract to pursue an NBA career. However, Portland's acting GM Chad Buchanan told Ben Golliver of Blazer's Edge (Twitter link) that the Blazers still hope to have Freeland next year, and that nothing is finalized between Freeland and Malaga.
- The Timberwolves have recalled Malcolm Lee from their D-League affiliate in Sioux Falls, according to Jerry Zgoda of the Star Tribune. Rehabbing following early-season knee surgery, Lee played in three games for the Skyforce after being assigned by Minnesota last week.
- North Carolina basketball fans will remember Sean May, who was drafted 13th overall in 2005 by the Bobcats after graduating from UNC. May, who saw his last NBA action in 2010, has signed with Italy's Sutor Montegranaro, according to the team's official site (hat tip to Sportando).
Nets Sign Andre Emmett To 10-Day Contract
The Nets have signed Andre Emmett to a 10-day contract, the team announced today (Twitter link). Keith Bogans, who underwent season-ending surgery yesterday, was waived to clear a roster spot.
Emmett, 29, had been playing for the D-League's Reno Bighorns this year, posting 23.7 PPG and 6.0 RPG in 24 games this season. Those numbers, along with his strong FG% (.531) and 3PT% (.459), made him an obvious candidate for a 10-day contract, despite not seeing NBA action since 2004/05. The Nets, meanwhile, having suffered a number of injuries, including Bogans' season-ender, will add another healthy body to their rotation.
Scott Schroeder of Ridiculous Upside first reported that the Nets were expected to sign Emmett.
Minor Moves: Selby, Ford, Sallie
The Grizzlies have assigned point guard Josh Selby, who has struggled to see playing time behind Mike Conley and Jeremy Pargo, to the Reno Bighorns of the D-League, the team announced. Selby, a former Kansas Jayhawk, was selected 49th overall in the second round of the 2011 draft. He averaged 2.9 PPG and 1.4 APG with the Grizzlies this year.
Elsewhere around the fringes of professional basketball, where everyone dreams of becoming the next Jeremy Lin:
- Former Suns forward Sharrod Ford was part of a D-League trade Monday, heading to the Canton Charge in exchange for Frank Hassell, who goes to the Erie Bayhawks.
- Roburt Sallie, who played collegiately at Memphis, was cut by his Spanish team after a male-enhancement drug resulted in a positive test for doping. Sallie disputed the claims to Royce Young of CBS Sports, and says he chose to leave the team, and not the other way around.
Heat Re-Sign Gladness To 10-Day Contract
After clearing the 48-hour waiver window, the Heat have re-signed center Mickell Gladness to a ten-day contract.
According to Ira Winderman of the South Florida Sun-Sentinel, who broke the story via Twitter, Gladness can be signed to up to two 10-day contracts (they don't have to be consecutive), after which he must be signed for the entire season or released. Gladness, 25, made his NBA debut with the Heat in December and is currently averaging 1.3 RPG in limited action this season. The former Alabama A&M star has spent most of his career in the NBA Developmental League having averaged 4.5 PPG and 3.7 RPG with the Dakota Wizards and the Rio Grande Valley Vipers in 77 games.
One player who should be happy to see Gladness return to the Heat is Terrel Harris, who was known to eat dinner on the road with his fellow rookie.