Transactions Rumors | Hoops Rumors

Josh Richardson Signs Two-Year Contract With Heat

June 30th, 2023 at 7:42pm CST by Alex Kirschenbaum

JULY 2: Richardson’s deal with the Heat is now official, according to a press release from the team.

JUNE 30: Veteran free agent swingman Josh Richardson is reportedly inking a two-year, minimum-salary contract to return to the Heat, report Shams Charania of The Athletic and Barry Jackson of The Miami Herald (Twitter links).

Jackson notes that the deal includes a player option for 2024/25. Miami head coach Erik Spoelstra reached out to Richardson at the start of the free agent period to recruit Richardson, per Jackson. Jackson tweets that a rival club offered the 6’5″ shooting guard/small forward more money, but he was swayed by the conversation with one of the league’s best coaches.

Mike Scotto of HoopsHype reports that the Timberwolves and Celtics also were hoping to sign Richardson. Scotto reveals that team president Pat Riley was also involved in the recruitment call to reacquire Richardson.

Miami, which as of now is already in luxury tax terrain in terms of its current contracts, has done well in adding a quality 3-and-D rotation wing on a team-friendly deal. The annual cap hits on a minimum deal for Richardson will be $2,891,467 in 2023/24 and $3,051,153 in 2024/25.

Miami first drafted Richardson out of Tennessee with the No. 40 pick in 2015, and flipped him to the Sixers as part of the deal that brought All-NBA wing Jimmy Butler to South Beach.

Across 65 games split between the Spurs and Pelicans in 2023/24, Richardson averaged 10.1 PPG on .431/.365/.852 shooting splits, along with 2.7 RPG, 2.7 APG and 1.1 SPG.

Pelicans Re-Sign Herbert Jones To Four-Year Contract

June 30th, 2023 at 7:11pm CST by Alex Kirschenbaum

JULY 6: Jones’ new deal is now official, according to a press release from the Pelicans.

JUNE 30: Pelicans free agent combo forward Herbert Jones is set to re-sign with New Orleans, his Priority Sports agents Mark Bartelstein and Kieran Piller inform Adrian Wojnarowski and Andrew Lopez of ESPN (Twitter link).

New Orleans Jones turned down a cheaper team option for 2023/24 in order to ink the 6’8″ forward to a fresh new four-year, $54MM contract, which is the Early Bird maximum the team is able to offer. In making him a restricted free agent, the club probably had a pretty good idea that the third-year player would accept the agreement.

Christian Clark of NOLA.com reports (via Twitter) that the deal is fully guaranteed.

A rival team could have theoretically offered him a back-loaded Arenas provision offer sheet, which the Pelicans would have been able to match. This four-year, $54MM deal represented the most New Orleans they could offer the 24-year-old directly.

Bobby Marks of ESPN tweets that Jones will net $12MM in the first season of the new contract, adding that his new contract now pushes the Pelicans $4.5MM into the league’s luxury tax. Worth monitoring now is how the club will handle the non-guaranteed $5.4MM deal of veteran New Orleans shooting guard Garrett Temple for 2023/24, which would become fully guaranteed on July 7.

Jones immediately emerged as a versatile defensive option for a playoff-bound Pelicans club during his first season out of Alabama, and was named to the 2021/22 All-Rookie Second Team for his superlative efforts.

Last year, he averaged 9.8 PPG, 4.1 RPG, 2.5 APG, 1.6 SPG and 0.6 BPG across 66 games, all starts, for a 42-40 New Orleans club.

Shake Milton To Sign Two-Year Deal With Timberwolves

June 30th, 2023 at 6:47pm CST by Rory Maher

Free agent guard Shake Milton is leaving the Sixers, having agreed to a two-year, $10MM deal with the Timberwolves, a source tells ESPN’s Adrian Wojnarowski (Twitter link).

The 54th pick of the 2018 draft after three seasons at SMU, Milton originally signed a two-way deal with Philadelphia, which was converted into a four-year, minimum-salary contract after his rookie season. That expired after 2022/23, making Milton an unrestricted free agent.

While Milton isn’t a great athlete or a defensive stopper, he has been quite productive when given a chance at a bigger offensive role throughout his pro career. For example, in 11 starts (38.3 minutes) last season, he averaged 20.8 points, 7.2 assists and 4.8 rebounds on a sparkling .518/.413/.970 shooting line.

His overall numbers have been more modest, with the 26-year-old averaging 9.7 points, 2.7 assists and 2.4 rebounds on .458/.368/.830 shooting in 234 games (45 starts, 21.4 MPG) over the past four seasons. Still, that’s solid production for a reserve.

Based on the contract value, it appears as though Milton will be getting part of Minnesota’s mid-level exception. The team also re-signed Nickeil Alexander-Walker and added Troy Brown, so the Wolves have been quite active in free agency, prioritizing young players to fill out their backcourt and wing depth.

Joe Ingles Signs Two-Year Contract With Magic

June 30th, 2023 at 6:46pm CST by Dana Gauruder

JULY 7: Ingles has officially signed with the Magic, the team announced today in a press release (Twitter link).

JUNE 30: Free agent swingman Joe Ingles is joining the Magic on a two-year, $22MM contract, ESPN’s Adrian Wojnarowski tweets.

TNT and Bleacher Report’s Chris Haynes reported earlier (Twitter link) that the two sides were close to an agreement. Similar to the deals Orlando reached with Gary Harris and Mohamed Bamba last offseason, the Magic will hold an option on the second year of Ingles’ contract, Jeff Zillgitt of USA Today tweets. Harris had his 2023/24 salary guaranteed by the Magic earlier in the day.

He’ll add a veteran presence off the bench at the wing positions in Orlando.

Ingles spent last season with the Bucks, seeing action in 46 games off the bench. He averaged 6.9 points, 3.3 assists and 2.8 rebounds in 22.7 minutes. He also saw action in five postseason games.

Ingles tore the ACL in his left knee the previous season while playing for the Jazz. Ingles, 35, played regularly for eight seasons in Utah.

Timberwolves Sign Nickeil Alexander-Walker, Troy Brown

June 30th, 2023 at 6:24pm CST by Dana Gauruder

JULY 9: Both signings are now official, per NBA.com’s transaction log.

JUNE 30: The Timberwolves have reached agreements with free agents Nickeil Alexander-Walker and Troy Brown.

Alexander-Walker is re-signing with Minnesota on a two-year deal, Jon Krawczynski of The Athletic tweets. Brown is leaving the Lakers to join the Timberwolves, ESPN’s Adrian Wojnarowski tweets.

The Wolves declined to give Alexander-Walker a qualifying offer to make him a restricted free agent but will re-sign him using his Bird rights on a two-year, $9MM deal, tweets Jon Krawczynski of The Athletic.

According to Mike Singer of Denver Post (Twitter link), Brown will get a two-year contract worth north of $8MM, with a second-year team option. The Wolves will have to use a cap exception – either the mid-level or bi-annual – to complete that signing.

Alexander-Walker, acquired in a deadline deal from Utah, appeared in 23 games off the bench for Minnesota last season. He averaged 5.9 points, 1.8 rebounds and 1.4 assists in 15.5 minutes. He’ll add depth behind starting shooting guard Anthony Edwards.

Brown, 23, played a prominent role for Los Angeles last season, appearing in 76 games, including 45 starts. He averaged 7.1 points and 4.1 rebounds in 24.5 minutes and made a career-best 38.1% of his 3-point attempts. The 6’6” Brown previously played for Washington and Chicago and could start or play a second-unit role with the Timberwolves.

In essence, he swapped places with former Timberwolves forward Taurean Prince, who agreed to a one-year deal with the Lakers.

Gabe Vincent Signs Three-Year Contract With Lakers

June 30th, 2023 at 6:24pm CST by Luke Adams

JULY 6: Vincent is officially a Laker, having formally signed his new contract, according to the team (Twitter link).

JUNE 30: Free agent point guard Gabe Vincent will leave the Heat for the Lakers, according to Shams Charania of The Athletic (Twitter link), who reports that Vincent has agreed to a three-year, $33MM contract with Los Angeles.

Miami, wary of increasing the team’s projected tax bill, had offered Vincent a three-year deal that started at $7.7MM, tweets Barry Jackson of The Miami Herald. The Lakers will give him an $11MM annual salary, presumably using a significant portion of their non-taxpayer mid-level exception.

The deal will be fully guaranteed with no player or team option on the third year, tweets Jake Fischer of Yahoo Sports.

Vincent, 27, began the 2022/23 season as rotation player off the Heat’s bench, but was elevated to the starting lineup in early February due to a Kyle Lowry injury. On the year, he averaged 9.4 PPG, 2.5 APG, and 2.1 RPG with a .402/.334/.872 shooting line in 68 regular season games (25.9 MPG).

Vincent held onto his starting job during the Heat’s run to the NBA Finals and played well in the postseason. Notably, he averaged 13.8 PPG and shot .438/.426/.909 in the Heat’s final two series vs. the Celtics and Nuggets, despite spraining his ankle vs. Boston.

Even after agreeing to sign Vincent, Los Angeles still has interest in bringing back point guard D’Angelo Russell, tweets Jovan Buha of The Athletic. However, Buha expects Vincent’s deal means that Dennis Schröder won’t be back with the team.

Vincent was the No. 23 free agent on our top-50 list.

Raptors Re-Sign Jakob Poeltl To Four-Year Contract

June 30th, 2023 at 6:00pm CST by Dana Gauruder

JULY 6: The Raptors have officially re-signed Poeltl, the team announced today in a press release.

“Jakob brought an immediate presence on the floor when he returned to us last season. He’s a smart, hard-nosed rim protector,” Raptors president Masai Ujiri said in a statement. “We have been strong believers in Jakob as a player and as an individual since day one, and we are thrilled that he will be a Raptor for years to come.”

JUNE 30: The Raptors accomplished one of their offseason priorities, as they reached a four-year agreement with center Jakob Poeltl, according to ESPN’s Adrian Wojnarowski (Twitter link).

The contract is worth $80MM and includes a player option in the fourth year.

Toronto was intent on retaining Poeltl after re-acquiring him from the Spurs last season. Poeltl, who played his first two seasons with Toronto before a 4 1/2-year stint with San Antonio, averaged 13.1 points, 9.1 rebounds, 2.2 assists, 1.3 blocks and 1.2 steals in 26 games with the Raptors last season.

Poeltl stabilized a position that had been in flux for several seasons. The Rockets and Spurs were reported to have interest in Poeltl, 27, but he obviously felt comfortable staying with the Raptors in the prime of his career.

Bucks, Khris Middleton Agree To Three-Year Deal

June 30th, 2023 at 5:54pm CST by Luke Adams

The Bucks and Khris Middleton are in agreement on a lucrative new deal, according to Adrian Wojnarowski of ESPN (Twitter link), who hears from Middleton’s agents Mike Lindeman and Jeff Schwartz that the star forward will sign a three-year, $102MM contract to remain in Milwaukee.

Middleton turned down a $40.4MM player option in order to secure a more significant overall financial commitment, though he’ll accept a lower salary in 2023/24. That reduction should help the Bucks’ luxury tax situation in the short term.

One of the NBA’s most underappreciated players for years, Middleton averaged at least 20 points in four of five seasons and made three All-Star teams from 2017-22. Unfortunately, his contract year was a forgettable one, with Middleton limited to 33 games due to injuries as his scoring rate (15.1 PPG) and shooting percentages (.436 FG%, .315 3PT%) dipped significantly.

The 31-year-old wing looked more like himself in five playoff games (23.8 PPG, 6.4 RPG, 6.2 APG, .465/.406/.867 shooting) and felt confident enough about his earning potential this summer to decline his player option. The bet paid off, with Middleton landing another nine-figure contract.

A former second-round pick (39th overall in 2012), Middleton was drafted by Detroit, spending his rookie year with the club. He was traded to Milwaukee in the summer of 2013 and has spent the past decade building the team’s culture and winning habits alongside two-time MVP Giannis Antetokounmpo, who was a rookie during Middleton’s first year with the Bucks.

Middleton was instrumental to the Bucks’ championship campaign in ’20/21, averaging 23.6 PPG, 7.6 RPG, 5.1 APG and 1.5 SPG in 23 playoff games (40.1 MPG). Both sides will be hoping he continues his playoff form over the next three seasons.

Rory Maher contributed to this story.

Jevon Carter Signs Three-Year Deal With Bulls

June 30th, 2023 at 5:49pm CST by Dana Gauruder

JULY 10: The signing is official, according to a team press release.

JUNE 30: Guard Jevon Carter is joining the Bulls on a three-year deal, ESPN’s Adrian Wojnarowski tweets. The Bulls are using a portion of their $12.4MM mid-level exception to secure Carter’s services.

Woj says the deal is worth $20MM, while Chris Haynes of TNT and Bleacher Report say it’s around $19MM (Twitter link), so there may be incentives within the deal. Chicago is now projected to be $9MM below the luxury tax and are hard-capped, ESPN’s Bobby Marks tweets. The Bulls are also $15MM below the first tax apron.

Carter is coming off a career year in which he appeared in all but one of Milwaukee’s regular-season games. The defensive-minded Carter started 39 of those games. Overall, he averaged 8.0 points, 2.5 rebounds and 2.4 assists.

Carter entered the free agent market by declining his $2.24MM option. Financially, it was obviously the right move for Carter, who now joins a seemingly crowded Bulls backcourt, depending on their other moves this offseason. Chicago has also reached an agreement with its own free agent guard, Coby White.

Cavaliers Sign Georges Niang To Three-Year Contract

June 30th, 2023 at 5:46pm CST by Luke Adams

JULY 6: Niang is officially a Cavalier, having formally signed his new contract with the team, per a press release.

JUNE 30: The Cavaliers and forward Georges Niang have agreed to a three-year contract worth $26MM, agents Mark Bartelstein and Andy Shiffman tell Adrian Wojnarowski of ESPN (Twitter link). The deal will be fully guaranteed, tweets Jake Fischer of Yahoo Sports.

Niang is one of the NBA’s best shooters, having made at least 40% of his three-point attempts in each of the last five seasons. While he’s not a great defender or rebounder, the 30-year-old will help space the floor for the Cavaliers, who had been in the market for frontcourt shooting.

Unless the Cavs work out a sign-and-trade agreement with Philadelphia, Niang’s former team, this signing will come out of Cleveland’s non-taxpayer mid-level exception and will hard-cap them at $172.3MM for the 2023/24 season.

As Bobby Marks of ESPN tweets, the Cavs – who also reached a contract agreement with Caris LeVert, are still projected to be about $13.5MM below the tax and $20.5MM below the first apron, so they have some flexibility to continue making moves. They’re still looking into the possibility of acquiring free agent swingman Max Strus via sign-and-trade, tweets Jake Fischer of Yahoo Sports.