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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.

Grizzlies Renegotiate, Extend Jaren Jackson Jr.’s Contract

July 13th, 2025 at 6:18pm CST by Rory Maher

July 13: Jackson’s renegotiation and extension are official, the team announced (via Twitter).

June 30: The Grizzlies are expected to renegotiate and extend Jaren Jackson Jr.‘s contract, according to Shams Charania of ESPN, who reports (via Twitter) that Memphis is giving the former Defensive Player of the Year a five-year, $240MM deal.

The forward/center’s new extension will feature a player option for the 2029/30 season, sources tell Charania (Twitter link).

It’s worth noting that the Grizzlies do not currently have the requisite cap room to renegotiate and extend Jackson at the salary that Charania reported — additional cost-cutting moves will be necessary in order to complete the transaction.

John Konchar and Cole Anthony have been rumored as salary-dump candidates, and Charania suggests (via Twitter) that Anthony will likely be the odd man out. The 25-year-old guard is on an expiring $12.9MM contract, but Charania’s reporting suggests he’ll likely be traded or bought out.

[UPDATE: Cole Anthony Agrees To Buyout With Grizzlies, Plans To Join Bucks]

Giving Jackson a lucrative new deal was long expected to be a top priority for Memphis. The 25-year-old was entering the final year of his current contract, which would have paid him about $23.4MM in ’25/26.

Based on the terms of his new deal, his salary for next season will need to be increased by nearly $10MM as part of the renegotiation — the $240MM total by Charania likely includes the $23.4MM he’s already owed for next season, so it’ll be closer to $217MM in new money.

As Keith Smith of Spotrac tweets, the Grizzlies need to trim about $7MM in payroll for next season to finalize Jackson’s deal. They’ll have access to the room version of the mid-level exception by operating below the cap, with free agent guard Ty Jerome a rumored target.

Jackson was named an All-Star for the second time last season and earned a spot on the All-Defensive Second Team. In 74 games (29.8 MPG), he averaged 22.2 PPG, 5.6 RPG, 2.0 APG, 1.2 SPG and 1.5 BPG, with a shooting line of .488/.375/.781.

The Grizzlies have also agreed to a three-year, $52.5MM deal with restricted free agent forward Santi Aldama, according to Charania.

Memphis has been busy this offseason, trading Desmond Bane to Orlando in a blockbuster deal that saw the Grizzlies acquire four first-round picks, one first-round swap, Kentavious Caldwell-Pope and Anthony. The Grizzlies then used two of those picks to move up in the draft and land Washington State wing Cedric Coward.

Nuggets, Kings Officially Swap Jonas Valanciunas, Dario Saric

July 13th, 2025 at 4:21pm CST by Eli Cohen

The Nuggets‘ trade sending Dario Saric to the Kings in exchange for Jonas Valanciunas is now official, according to a press release from Denver.

The trade agreement between the two teams was first reported on July 1. At the time, it seemed like a fairly straightforward deal — Denver was adding a reliable backup center behind Nikola Jokic, while Sacramento was reducing its team salary by swapping out Valanciunas’ $10.4MM salary for Saric’s $5.4MM expiring contract, allowing the Kings to stay out of tax territory while completing other moves.

However, it became more complicated within the past 12 days, as word broke that Valanciunas had a three-year contract offer on the table from the Greek team Panathinaikos that he wanted to accept.

While there has been no indication that the mutual interest between Valanciunas and Panathinaikos has waned, the Nuggets have reportedly told the 33-year-old and his camp that they want the big man the honor his contract. According to reports, Denver had maintained interest in Valanciunas in recent years and views him as a critical addition to its roster.

In order to sign with Panathinaikos, Valanciunas would have to negotiate a buyout with the Nuggets and get a FIBA letter of clearance — as long as he’s on an NBA contract, he can’t unilaterally decide to play in another league, without Denver’s cooperation. Now that the trade is official, he and the Nuggets can formally sit down and discuss next steps, but it sounds for now as if the plan is to have him in camp in Denver in the fall.

Valanciunas landed with the Wizards via sign-and-trade last summer, then was traded to the Kings in February. The durable center made 81 total appearances last season in Washington and Sacramento, averaging 10.4 points, 7.7 rebounds and 2.0 assists in 18.8 minutes per contest.

Saric, meanwhile, couldn’t carve out a rotation role in Denver after signing with the team as a free agent in 2024. He made just 16 appearances, averaging 3.5 points and 3.1 rebounds in 13.1 minutes per night. It’s unclear whether the Kings intend to keep him on their roster entering next season — a return to Europe could be in the cards for the 6’10” forward/center if he reaches free agency.

Luke Adams contributed to this story.

Rockets Waive Nate Williams

July 13th, 2025 at 1:54pm CST by Alex Kirschenbaum

The Rockets have waived wing Jeenathan “Nate” Williams, per an official team press statement.

Williams’ $2,270,735 salary for the 2025/26 season with Houston was set to remain non-guaranteed until the start of the regular season. The 6’5″ vet has been partaking in his fourth Summer League with Houston this month.

The 26-year-old Williams played sparingly for Houston across the past two seasons, appearing in 42 total NBA contests. In 6.6 minutes per night, the Buffalo alum averaged 3.0 points and 0.9 rebounds, with a shooting line of .482/.258/.571.

Houston also officially announced its signing of undrafted former five-year Mississippi State forward Cameron Matthews to an Exhibit 10 training camp deal. His agreement was reported last month shortly after the draft.

A two-time SEC All-Defensive Teamer while with the Bulldogs, Matthews averaged 7.1 PPG, 6.7 RPG, 3.6 APG and 2.4 SPG in 34 appearances during his final NCAA season, 2024/25. Matthews had been ranked as the No. 83 prospect among this year’s class by Sam Vecenie of The Athletic.