Transactions Rumors | Hoops Rumors

Grizzlies Officially Sign Jock Landale

July 15th, 2025 at 11:54am CST by Luke Adams

The Grizzlies have officially completed their reported deal with center Jock Landale, announcing the signing on Tuesday in a press release (Twitter link).

Word broke on July 5 that Landale had agreed to a one-year, minimum-salary contract with Memphis after being waived by the division-rival Rockets. The Grizzlies reached a deal with the free agent big man right around the same time they agreed to trade another center Jay Huff, to Indiana.

Landale was signed by Houston in 2023 to a four-year, $32MM contract that included just one fully guaranteed season. However, the Rockets – who were operating well below the luxury tax line last season, hung onto him for the second year of the deal in 2024/25, even though he played a limited role for the team behind Alperen Sengun and Steven Adams in the frontcourt.

The 29-year-old Australian averaged 4.8 points and 3.3 rebounds in 11.9 minutes per game across 42 outings (three starts) in ’24/25. He had played a similar role a year earlier, with averages of 4.9 PPG and 3.1 RPG in 13.6 MPG (56 appearances).

Landale will provide depth in a Grizzlies frontcourt that could be missing both Jaren Jackson Jr. (turf toe surgery) and Zach Edey (ankle surgery) when training camps open in the fall. Brandon Clarke and Santi Aldama are among the club’s other options up front.

Landale’s minimum-salary contract will pay him $2,461,463, while Memphis carries a cap hit of $2,296,274.

Pelicans Sign Herb Jones To Three-Year Extension

July 14th, 2025 at 7:04pm CST by Earnest Marshall

JULY 14: The signing is official, the team tweets.

JULY 10: The Pelicans and forward Herbert Jones have agreed to a three-year, $68MM extension, according to Shams Charania of ESPN (Twitter link). The deal will feature a player option on the final year, Charania adds.

Jones’ current contract will pay him roughly $13.9MM this season and $14.9MM in 2026/27. His new extension will begin in ’27/28 and will be start at 140% of his previous salary, with 8% annual raises, for a total of $67.6MM.

That means he’s now under contract for five seasons (including the player option in ’29/30) and would earn $96.4MM if he plays out the full deal.

The coveted defensive ace has evolved into a leader and mainstay for the Pelicans after being selected 35th overall in the 2021 draft. In four seasons with New Orleans, Jones holds averages of 10.1 points, 3.8 rebounds, 2.5 assists, 1.6 steals and 0.7 blocks per game.

Jones joins Trey Murphy and Zion Williamson as the only Pelicans players on guaranteed contracts through at least 2027/28, though Dejounte Murray and the team’s 2024 and 2025 draftees have options for that season.

Jones has drawn plenty of outside interest due to his lock-down defense and growing three-point ability (he shot 41.8% in his last fully healthy season). However, with both he and Murphy on respectable and affordable deals, New Orleans likely won’t be eager to move either.

Jones, specifically, will have a six-month trade restriction once he officially signs his extension, so he won’t become eligible to be dealt until January.

Grizzlies Sign Ty Jerome To Three-Year Deal

July 14th, 2025 at 6:16pm CST by Rory Maher

JULY 14: The signing is official, according to the team’s PR department (Twitter link).

JUNE 30: The Grizzlies will sign free agent guard Ty Jerome to a three-year contract worth $28MM, per Shams Charania of The Athletic (Twitter link). The deal will include a third-year player option, Charania adds.

It has been a busy Monday evening for the Grizzlies, who had already agreed to new deals with Jaren Jackson Jr., Santi Aldama, and Cam Spencer. Jerome’s contract will come out of the room exception, which can be worth up to about $27.7MM over three seasons.

Reports leading up to free agency stated that Memphis was the frontrunner to sign Jerome, who is coming off a career year with Cleveland in which he averaged 12.5 points, 3.4 assists, 2.5 rebounds and 1.1 steals in 70 games (19.9 minutes per contest). He also posted an elite shooting line of .516/.439/.872.

While Jerome was excellent in the Cavaliers’ first-round playoff series vs. Miami, he struggled mightily on both ends of the court in their second-round loss to Indiana. That may have limited his earnings potential to an extent.

Still, it’s surprising that Jerome will “only” make $27.7MM over the next three years, considering the Cavs agreed to give another backup guard — Sam Merrill — a four-year, $38MM deal. Merrill is a better defender, but Jerome was far more productive on offense last season.

Either way, Jerome will secure the first major payday of his career as he nears his 28th birthday (July 8).

Timberwolves Sign Naz Reid To Five-Year Deal

July 14th, 2025 at 5:04pm CST by Luke Adams

JULY 14: The signing is official, according to a team press release.

JUNE 27: The Timberwolves and Naz Reid are in agreement on a new contract, according to Shams Charania of ESPN, who reports that the reserve forward/center intends to sign a five-year, $125MM contract to remain in Minnesota.

Reid held a player option worth approximately $15MM for the 2025/26 season, but will turn down that option in advance of Sunday’s deadline in order to finalize his new deal with the Wolves in July. According to Charania, the new contract will also feature a player option on the final year.

After winning the NBA’s Sixth Man of the Year award in 2023/24, Reid had another strong showing for the Timberwolves in ’24/25, matching or exceeding his stats from the previous season in several key categories. The 25-year-old averaged 14.2 points, 6.0 rebounds, and 2.3 assists in 27.5 minutes per game across 80 outings (17 starts).

Reid has knocked down 39.5% of 5.4 three-point attempts per game over the past two seasons, making him a valuable floor-spacer in Minnesota’s frontcourt alongside center Rudy Gobert. Lineups featuring Reid and Gobert outscored opponents by 11.8 points per 100 possessions last season, the best mark of any of the team’s 25 most frequently used duos.

According to Charania, there was a “vibrant market developing” in free agency for Reid, with teams prepared to offer similar money and potentially a starting role. While Brooklyn is the only club currently projected to have enough cap room to have offered Reid a starting salary in the range of $20-25MM, there are other clubs that probably had the ability to get there.

The Pistons, for instance, were known to be interested in adding a stretch big man, and were cited as a team with interest in Reid. Detroit has the ability to create roughly $17MM in cap room and could have attempted to move off one more contract to create additional spending flexibility.

But the Timberwolves spoke both publicly and privately since their season ended about their desire to retain Reid, and showed with their five-year offer that they were serious about holding off rival suitors.

The next orders of business for the Wolves will be figuring out what happens with starting power forward Julius Randle and guard Nickeil Alexander-Walker. Randle holds a $30.9MM player option that he must decide on by Sunday, while Alexander-Walker will be an unrestricted free agent.

Although Minnesota has expressed a desire to keep all three players, retaining both Randle and Alexander-Walker would almost certainly push team salary well over the second tax apron for a second straight year, as cap expert Yossi Gozlan outlines (via Twitter). That may not appeal to the front office (or team ownership).

There has been some skepticism about the Wolves’ ability to keep all three players, with Alexander-Walker viewed as the most likely odd man out. Accounting for Randle’s option and no new deal for Alexander-Walker, the Wolves currently project to operate just below the second apron, tweets ESPN Bobby Marks.

Wizards Waive Richaun Holmes

July 14th, 2025 at 4:10pm CST by Dana Gauruder

The Wizards have waived veteran big man Richaun Holmes, Michael Scotto of HoopsHype tweets.

Holmes’ $13.28MM contract for next season only had a partial guarantee of $250K. He averaged 7.4 points and 5.7 rebounds in 17.2 minutes over 31 games (seven starts) last season.

Holmes will be an unrestricted free agent once he clears waivers. Given his age — 31 — and lack of playing time last season, it’s no surprise that Washington would clear salary by cutting Holmes loose.

Holmes declined a $12.88MM option on his contract last summer in order to sign a two-year, $25.9MM contract that included the partial guarantee on year two. He had been acquired during the trade deadline from Dallas in the deal that sent Daniel Gafford to the Mavs. He appeared in 17 games for Washington that season, making eight starts and averaging 7.1 points and 6.1 rebounds in 18.7 minutes per night.

Holmes was once one of the most sought-after big men in the league. He was signed by Sacramento on a four-year, $46MM contract in 2021 and averaged in double digits in three consecutive seasons for the Kings.

Once the Wizards signed free agent Marvin Bagley III to back up Alex Sarr, it was clear that Holmes was no longer in the Wizards’ plans. He should draw interest from teams seeking frontcourt depth.

Grizzlies Sign Cam Spencer To Four-Year Contract

July 14th, 2025 at 1:00pm CST by Luke Adams

1:00pm: Spencer has officially signed his new four-year contract, the Grizzlies announced this afternoon (via Twitter).

11:48am: After initially agreeing to a two-year, minimum-salary contract when free agency opened on June 30, the Grizzlies and Cam Spencer have since amended the terms of that agreement, agents Mark Bartelstein and Ross Aroyo tell Shams Charania of ESPN (Twitter link).

According to Charania, Spencer will now be signing a four-year, $10.5MM contract that includes three fully guaranteed seasons. The fourth year will be a team option, tweets Michael Scotto of HoopsHype.

The 53rd pick of the 2024 draft after winning a national championship with UConn, Spencer appeared in 25 games with the Grizzlies last season, averaging 4.2 points, 1.2 rebounds and 1.4 assists in 10.1 minutes per contest. His shooting line was .415/.365/1.000.

The 25-year-old combo guard had a much bigger role in his eight G League appearances (32.2 MPG) with the Memphis Hustle in ’24/25, averaging 23.5 PPG, 3.6 RPG, 3.5 APG and 1.2 SPG on .538/.493/.765 shooting.

When the Grizzlies initially agreed to a two-year, minimum-salary deal with Spencer, they likely didn’t know whether or not they’d have to renounce his rights in order to accommodate Jaren Jackson‘s renegotiated contract.

It appears Memphis was able to hang onto Spencer’s Non-Bird rights while maintaining enough cap room for Jackson’s new deal, which will allow the club to go beyond two years and a little above the minimum for Spencer.

As we wrote earlier today, Spencer’s deal with the Grizzlies is one of four reported signings that will likely be officially completed now that Jackson’s renegotiation and extension is complete.

Mason Plumlee Rejoins Hornets On One-Year Deal

July 13th, 2025 at 8:49pm CST by Dana Gauruder

July 13: The Plumlee signing is official, writes Rod Boone of the Charlotte Observer (via Twitter).

June 30: Journeyman center Mason Plumlee is joining the Hornets on a one-year, veteran’s minimum contract, ESPN’s Shams Charania tweets.

Plumlee will make $3.6MM in 2025/26, though his cap hit will only be approximately $2.3MM.

This will be his second stint in Charlotte. Plumlee also played there for two seasons from 2021-23. The 35-year-old has also played for Brooklyn, Portland, Denver, Detroit, the Clippers and Phoenix in a career that began in 2013.

Plumlee was a rotation big for the Suns this past season. He appeared in 74 games, including 21 starts, averaging 4.5 points, 6.1 rebounds and 1.8 assists in 17.6 minutes per game. He has appeared in 860 games over the course of his 12 NBA seasons.

After adding Mark Williams via trade and Khaman Maluach via the draft, there was no role for Plumlee next season in Phoenix. He could get ample playing time in the Hornets’ depleted frontcourt, depending on their other offseason moves.

Thunder Sign Chet Holmgren To Five-Year Max Extension

July 13th, 2025 at 8:45pm CST by Dana Gauruder

July 13: The Holmgren extension has been made official, per a press release from the Thunder.

July 9: Thunder big man Chet Holmgren has agreed to a fully-guaranteed, five-year maximum rookie contract extension, ESPN’s Shams Charania reports (Twitter link).

Holmgren’s first-year salary under the extension will start at 25% of the 2026/27 salary cap, ESPN’s Bobby Marks tweets. Based on the NBA’s latest cap projection, that would work out to a five-year, $240MM deal.

The second pick of the 2022 draft, Holmgren has battled through injuries in his first three years as a pro but has excelled during his time on the court.

After not playing at all during the 2022/23 season due to a foot injury suffered during the offseason, Holmgren bounced back to start every game in the 2023/24 season, averaging 16.5 points, 7.9 rebounds, 2.4 assists and 2.3 blocks per night.

A pelvic fracture limited Holmgren to 32 regular season games this past season. He posted averages of 15.0 points, 8.0 rebounds, 2.0 assists and 2.2 blocks prior to the playoffs, then started all 23 postseason contests en route to the franchise’s first championship since moving to Oklahoma City. He averaged 15.2 points, 8.7 rebounds, 1.0 assists and 1.9 blocks during the title run.

Holmgren joins league Most Valuable Player Shai Gilgeous-Alexander among current OKC players to receive max extensions. The next order of business is to give star forward Jalen Williams a max contract of his own. He’s also eligible for a rookie scale extension this offseason.

While we’ll wait for the official details to confirm, it doesn’t sound as if Holmgren’s deal will include Rose Rule language that could increase the value of that first year beyond 25% of the cap if he makes an All-NBA team, wins Defensive Player of the Year, or is named MVP.

Charania’s report does say the value of the extension could reach $250MM, which would exceed the projected value of a standard 25% max deal even if the cap rises by the maximum allowable 10% next year (it’d be worth $246.6MM in that scenario). However, that may just be a case of generously rounding up.

Hornets, Spencer Dinwiddie Finalize One-Year Deal

July 13th, 2025 at 8:31pm CST by Luke Adams

July 13: The Dinwiddie signing is official, Rod Boone of the Charlotte Observer notes (via Twitter).

July 2: Free agent point guard Spencer Dinwiddie has agreed to sign a one-year contract with the Hornets, sources tell Shams Charania of ESPN (Twitter link).

Charania’s report doesn’t include any salary details, but I’d expect it’ll be a veteran’s minimum deal for Dinwiddie, who played for the minimum last season as well, as a member of the Mavericks.

Dinwiddie, 32, played a more significant role than expected in Dallas due to the Luka Doncic trade and a series of injuries affecting guards like Kyrie Irving and Dante Exum. He was one of the only Mavs players who made it through the season without dealing with any major health issues.

In 79 games (30 starts), Dinwiddie averaged 11.0 points, 4.4 assists, and 2.4 rebounds in 27.0 minutes per night, with a shooting line of .416/.334/.802. All of those numbers were in the ballpark of his career rates.

Charlotte entered the offseason with LaMelo Ball as the only point guard on a guaranteed contract for next season and didn’t address this position in last week’s draft, but have been busy adding backcourt depth since then. The Hornets made a trade for combo guard Collin Sexton and agreed to re-sign point guard Tre Mann before also agreeing to terms with Dinwiddie.

A report over the weekend indicated that the Hornets were considering making a run at Chris Paul, a North Carolina native, as they sought a veteran point guard. However, the 12-time All-Star wants to play as close to his home in Los Angeles as possible, prompting Charlotte to pivot to other targets and ultimately land on Dinwiddie.

Hornets Re-Sign Tre Mann To Three-Year Deal

July 13th, 2025 at 8:19pm CST by Alex Kirschenbaum

July 13: Mann’s signing has been made official, the team announced in a press release (via Twitter).

July 1: The Hornets are re-signing free agent guard Tre Mann to a three-season, $24MM contract, sources inform ESPN’s Shams Charania (Twitter link). The deal will include a third-year team option, reports Michael Scotto of HoopsHype (Twitter link).

Mann’s fate appeared somewhat up in the air, as the Hornets had opted not to extend him the $6.96MM qualifying offer that would have made him a restricted free agent. However, head of basketball operations Jeff Peterson recently referred to the former first-round pick as a “priority” and said he expected him to return.

On Tuesday, the two sides reached an agreement to make that happen.

The 24-year-old out of Florida missed most of the 2024/25 season due to a back ailment, but he has participated in all of Charlotte’s offseason activity and 5-on-5 scrimmages. Across just 13 healthy games, the 6’3″ pro averaged a career-best 14.1 points, along with 3.0 assists and 2.9 rebounds. He had a shooting line of .435/.400/.905.

In addition to striking a deal with Mann, the Hornets also reached a deal to bring back former center Mason Plumlee.

Charlotte is, however, bringing in some new additions, highlighted by rookie No. 4 pick Kon Knueppel and forward Sion James out of Duke, former UConn wing Liam McNeeley UConn, and ex-Creighton center Ryan Kalkbrenner. The Hornets also agreed to acquire guard Collin Sexton from Utah, along with Milwaukee wing Pat Connaughton.