Transactions Rumors | Hoops Rumors

Magic Sign Paolo Banchero To Five-Year Max Extension

July 7th, 2025 at 7:04pm CST by Dana Gauruder

7:04 pm: Banchero’s five-year, maximum-salary extension is official, the Magic announced in a press release (Twitter link).

“We are thrilled to keep Paolo in a Magic uniform for years to come,” Magic president of basketball operations Jeff Weltman said in a statement. “At just 22, he has won NBA Rookie of the Year, been named an NBA All-Star and is widely regarded as one of our league’s brightest young stars.

“This commitment reflects our belief in Paolo’s talent, character and desire to win at the highest level. It also reflects Paolo’s belief in our organization, our fans and the city of Orlando. We are excited to continue this journey together.”

5:31 pm: Magic star forward Paolo Banchero has agreed to a five-year maximum rookie scale contract extension that be worth as much as $288MM, ESPN’s Shams Charania tweets.

The contract will include a player option in the final year, the first time that’s happened in a rookie scale maximum-salary extension since 2021, when Luka Doncic and Trae Young each received one.

As cap expert Yossi Gozlan points out (Twitter link), the extension is technically worth a projected $240MM but it could rise another $48MM if Banchero meets the Rose Rule performance criteria, which includes making an All-NBA team or winning the Most Valuable Player Award.

The salary projections are based on a 7% cap increase for 2026/27.

Banchero will now be signed through at least 2030, with a ’30/31 player option. The five-year extensions for Franz Wagner and Jalen Suggs kick in this coming season and recently acquired Desmond Bane has a contract that runs through the 2028/29 season. That means that four members of the starting lineup are signed for at least the next four seasons.

Orlando’s decision to make Banchero the top pick of 2022 draft was somewhat surprising at the time, but he has lived up to that billing. He was the Rookie of the Year in 2023 and an All-Star in 2024.

An early-season oblique injury marred Banchero’s third NBA season, but he still averaged 25.9 points, 7.5 rebounds and 4.8 assists per game in 46 starts. The 22-year-old has averaged 28 points per game in 12 postseason contests over the past two seasons.

Back in May, Banchero told Marc J. Spears of ESPN he wasn’t sure if he’d sign an extension but was hopeful it would come to fruition.

“I was in over my head when I signed my rookie (contract). So, I really haven’t thought much about that. … But it’s a blessing and hopefully all that stuff works out if I’m able to sign with the team and lock in my future,” he said. “That’s every young player’s goal coming into this league, establishing yourself early, get a second contract. So, when (the) time comes, I’m sure all that stuff we can figure out. I don’t know. They say more money, more problems. So, we’ll see what happens.”

Bucks Officially Stretch Lillard, Buy Out Micic

July 7th, 2025 at 6:56pm CST by Luke Adams

6:56 pm: Micic gave up $6.1MM in his buyout agreement with the Bucks, who stretching his remaining $2MM across three seasons for annual cap hits of $667K, reports Eric Nehm of The Athletic.

5:09 pm: The Bucks have officially waived point guards Damian Lillard and Vasilije Micic, according to the transaction log at NBA.com. Both moves had been anticipated as Milwaukee looked to clear the cap space necessary to sign free agent center Myles Turner to a four-year, $107MM contract.

Reports last Tuesday indicated that Lillard would have his remaining $112.6MM salary spread across five seasons instead of two using the stretch provision in order to create immediate cap relief for Milwaukee.

Lillard is expected to miss most or all of the 2025/26 season while he recovers from the torn Achilles he suffered during the first round of the playoffs in April. The nine-time All-Star has reportedly drawn interest already from many teams around the NBA, but hasn’t yet decided whether he’ll sign a new contract this offseason and is said to be in no rush to make that decision.

As for Micic, the expectation after he was acquired from Charlotte in exchange for Pat Connaughton and a pair of second-round picks was that he would agree to reduce his $8.1MM cap hit in order to become a free agent and generate a little extra cap space for the Bucks. According to Michael Scotto of HoopsHype (Twitter link), the two sides did reach an agreement on a buyout, though it’s unclear at this point how much of his salary Micic gave up.

Micic has played a pretty limited role in the NBA during the past couple seasons after starring in Europe for most of his career. In 101 total games for Oklahoma City, Charlotte, and Phoenix, he averaged 6.8 points and 3.9 assists in 19.4 minutes per contest.

Rumors in recent months have linked Micic to multiple EuroLeague teams — while it’s not clear exactly which one he’ll end up with, it seems likely that the 31-year-old Serbian will head back overseas to resume his playing career.

It appears both Lillard and Micic were technically placed on waivers on Sunday evening, as the NBA’s transaction log lists Turner’s deal as having gotten done last night. Still, if those cuts occurred after 4:00 pm Central time, neither player will officially clear waivers until Wednesday.

Kyle Lowry Remains With Sixers On One-Year Deal

July 7th, 2025 at 4:48pm CST by Dana Gauruder

4:48 pm: Lowry’s new deal is now official, according to a press release from the Sixers.

“Kyle’s championship experience and Hall-of-Fame resume speaks for itself. He is a proven floor general with tremendous knowledge of the game that is a resource to everyone in the organization,” president of basketball operations Daryl Morey said in a statement. “It’s only fitting that his 20th NBA season will be right here in Philadelphia, the city he calls home.”

4:20 pm: Free agent guard Kyle Lowry has agreed to a one-year deal to return to the Sixers, ESPN’s Shams Charania tweets.

The Philadelphia Inquirer’s Keith Pompey predicted last month that Lowry would sign another contract with the team since the Sixers value the Philadelphia native for his leadership and mentorship of young guards like Tyrese Maxey and Jared McCain.

Lowry, 39, played on the veteran’s minimum last season and figures to do so again. He only appeared in 35 games last season, including 12 starts, averaging 3.9 points and 2.7 assists in 18.8 minutes per game.

Not too long ago, Lowry was once one of the highest-paid guards in the game. His NBA career dates back to 2006, when he was a late first-round pick with Memphis. He’s a six-time All-Star and won a championship with Toronto in 2019.

He only projects as an insurance policy for next year’s Sixers team with Maxey, McCain and first-round pick VJ Edgecombe likely ahead of him on the depth chart.

He’ll become the 12th player in NBA history to play 20-plus seasons and the second point guard to do so, Josh Lewenberg of TSN Sports tweets, joining Chris Paul.

Hawks Waive David Roddy

July 7th, 2025 at 4:44pm CST by Luke Adams

The Hawks have requested waivers on David Roddy, the team announced today in a press release. Roddy, who was on a two-way contract, was sent from Houston to Atlanta in the record-setting seven-team Kevin Durant trade on Sunday.

The 23rd overall pick in the 2022 draft, Roddy has bounced around the league since making his NBA debut, appearing in a total of 168 regular season games for Memphis, Phoenix, Atlanta, Philadelphia, and Houston. The burly 6’4″ forward holds career averages of 6.2 points and 2.9 rebounds in 16.9 minutes per game, with a .421/.302/.679 shooting line.

Roddy’s two-way contract was partially guaranteed for $85,300, so he’ll receive a small payout and will become an unrestricted free agent on Wednesday, assuming he clears waivers.

While that $85,300 doesn’t count against Atlanta’s cap, it’s probably not a coincidence that that’s the exact amount of cash the Rockets sent to the Hawks in the Durant blockbuster.

The Hawks now have just Eli Ndiaye on a two-way contract, with undrafted rookie Lamont Butler rumored to be filling one of the two remaining openings. The team also has two-way qualifying offers on the table for Jacob Toppin and Keaton Wallace.

This is the second time in 2025 that the Hawks have waived Roddy. They also did so in February to make room for incoming players at the trade deadline.

Norman Powell To Heat, John Collins To Clippers In Three-Team Trade

July 7th, 2025 at 4:21pm CST by Arthur Hill

4:21 pm: The three-team trade is official, according to a press release from the Jazz.

9:27 am: The Clippers, Jazz and Heat have reached an agreement on a three-team trade, sources tell Shams Charania of ESPN (Twitter link). The deal will send Norman Powell to Miami, John Collins to L.A. and Kevin Love, Kyle Anderson and a 2027 Clippers second-round pick to Utah.

Powell is coming off the best scoring season of his career and will bring more offensive punch to Miami’s backcourt. After finishing fourth in the Sixth Man of the Year balloting in consecutive seasons, Powell was moved into the starting lineup and responded by averaging 21.8 points per game while shooting 48.4% from the field and 41.8% from three-point range.

Powell, 32, will make $20.5MM next season before becoming a free agent in 2026. He’s eligible for a three-year extension worth $77.4MM. Those limits would increase to $128.5MM over four years in six months.

The Clippers were reluctant to give Powell a long-term extension, sources tell Michael Scotto of HoopsHype (Twitter link). With Kawhi Leonard and James Harden both signed through 2026/27, the team is preserving cap space for 2027 free agency.

Miami will use the expanded traded player exception to acquire Powell, Bobby Marks of ESPN notes (Twitter link), hard-capping them at the first tax apron, and will be $1.3MM over the luxury tax line once the deal is complete.

Miami will be just $3.9MM away from that first-apron threshold once the trade is complete, so it won’t be able to use the full taxpayer mid-level exception of $5.7MM, according to cap expert Yossi Gozlan (Twitter link), who also speculates that acquiring Powell means the team is probably no longer a logical fit for Bradley Beal, who is believed to be nearing a buyout with Phoenix.

Collins, 27, will bring more frontcourt depth to a Clippers team that recently added Brook Lopez in free agency. Collins has been a starter in Utah since being acquired from Atlanta two years ago, but he was limited to 40 games last season. He has one year left on his contract at $26.6MM and can sign an extension worth up to $100.5MM over three years, per Marks. While a massive payday is unlikely for Collins, it’s worth noting those extension limits would increase six months after the trade to $166.7MM over four years.

L.A. is now $6.7MM below the first apron with $5.3MM of its mid-level exception remaining, according to Gozlan (Twitter link). With their top three-point shooter now gone, Gozlan expects the Clippers to be in the market for Beal.

Anderson, 31, has been a useful contributor on contending teams throughout his career, but it’s not clear how he fits in with the rebuilding Jazz. His contract covers two more seasons at $9.2MM and $9.7MM, but 2026/27 is non-guaranteed. Love, who’ll turn 37 in September, has a $4.15MM expiring deal and will likely become a buyout candidate.

Gozlan notes that Utah can create a $26.6MM trade exception by using the mid-level exception to take on Anderson and Love (Twitter link). Alternatively, the Jazz could create roughly $22MM in cap space by waiving the non-guaranteed contracts of KJ Martin ($8MM) and Jaden Springer ($2.4MM) and could be in position to make a play for one of the remaining free agents.

It sounds like Utah will continue operating over the cap, going the trade exception route, tweets Marks.

Timberwolves Sign Joan Beringer To Rookie Deal

July 7th, 2025 at 3:55pm CST by Luke Adams

The Timberwolves have officially signed first-round pick Joan Beringer to his rookie scale contract, according to a press release from the team.

One of the top international players in this year’s draft class, Beringer played this past season for Cedevita Olimpija in Slovenia, where he averaged 4.9 points, 4.1 rebounds, and 1.5 blocks in 18.3 minutes per game in 30 outings in the ABA League.

The young Frenchman, who will turn 19 in November, has only played basketball for four years and is still learning the game, notes ESPN’s Jonathan Givony, who adds that Beringer possesses “outstanding” physical tools, including the coveted combination of defensive mobility and rim-protecting ability.

Timberwolves general manger Matt Lloyd told reporters after June’s draft that several team officials became convinced that Beringer was a perfect fit for the franchise after watching him work out and meeting with him in Chicago during the pre-draft process. Minnesota just wasn’t sure if he would still be available at No. 17 overall.

“Joan is one of those rare cases where the best player available also had a fit,” Lloyd said. “And we were sweating it. … It was a long night of waiting.”

As our breakdown of rookie scale salaries shows, assuming Beringer assumes the maximum allowable 120% of the rookie scale, which is likely, his deal will be worth about $20.3MM over four years, including $4.2MM in year one. The first two seasons are guaranteed, followed by team options in years three and four.

Suns Sign Khaman Maluach, Rasheer Fleming, Koby Brea

July 7th, 2025 at 2:59pm CST by Luke Adams

The Suns have officially signed all three of their 2025 draft picks, according to NBA.com’s transaction log. That trio consists of No. 10 overall pick Khaman Maluach, No. 31 pick Rasheer Fleming, and No. 41 selection Koby Brea.

That No. 10 pick was one of the primary assets the Suns received from Houston in their blockbuster Kevin Durant deal. While Maluach was widely expected to come off the board in the top eight picks on June 24, he slipped to No. 10, giving Phoenix an opportunity to nab its potential center of the future.

Maluach averaged 8.6 points, 6.6 rebounds, and 1.3 blocks in 21.2 minutes per contest during his first and only college season at Duke. While his box-score numbers don’t jump off the page, the 18-year-old has an impressive frame (a height of 7’1″ and a wingspan of 7’7″), is one of the youngest players in this year’s draft class, and has the potential to excel in the NBA as a defensive anchor and a rim-runner and lob threat on offense.

Maluach’s rookie scale deal is expected to pay him roughly $6MM in his rookie season and a total of $27.4MM across his first four years in the NBA, as our breakdown of this year’s rookie scale shows.

There was a minor bidding war for Fleming ahead of day two of this year’s draft, with teams vying to move up to No. 31 to select the former Saint Joseph’s forward. Phoenix won that bidding war by sending Minnesota the No. 36 pick and a pair of future second-rounders.

Fleming is coming off an impressive junior season in which he averaged 14.7 points, 8.5 rebounds, 1.4 steals and 1.5 blocks per game in 35 appearances (31.1 minutes), with a shooting line of .531/.390/.743. According to Michael Scotto of HoopsHype (Twitter link), he signed a four-year, $8.7MM deal using the second-round pick exception and got three fully guaranteed years, with a fourth-year team option.

As for Brea, Phoenix drafted him after trading up to No. 41 using the 52nd and 59th overall picks in a deal with the Warriors. The 6’7″ wing, who played four seasons at Dayton before spending his fifth and final college season with Kentucky, is an excellent shooter, having made 317-of-730 (43.4%) three-pointers during his NCAA career.

Brea signed a two-way contract.

Blazers, Celtics Finalize Holiday, Simons Trade Without Draft Picks

July 7th, 2025 at 12:40pm CST by Luke Adams

The Trail Blazers and Celtics have officially completed their trade sending Jrue Holiday to Portland and Anfernee Simons to Boston, according to a press release from the Blazers.

However, the terms are slightly different than what was reported last month. Portland had originally agreed to send the Knicks’ 2030 second-round pick and the Blazers’ own 2031 second-rounder to Boston, but those draft assets are no longer in the deal, which is now a straight one-for-one player swap.

Aaron Fentress of The Oregonian hears from a source that a review of Holiday’s medicals prompted the Blazers to alter the initial terms of the agreement.

There wasn’t enough concern on Portland’s end to nix the deal entirely, Fentress explains, adding that the veteran guard is considered healthy and is working out this summer in preparation for training camp in the fall.

As a result of taking back more salary than they’re sending out in the trade, the Trail Blazers are now hard-capped at the first tax apron for the rest of the 2025/26 league year.

The Celtics, meanwhile, have officially completed both of their major offseason trades on Monday, having also finalized the three-team deal sending Kristaps Porzingis to Atlanta.

You can read more about the Holiday/Simons swap in our original report on the deal.

Pelicans Sign Micah Peavy

July 7th, 2025 at 11:23am CST by Arthur Hill

11:23am: Peavy’s new contract is worth $8.7MM over four years, sources tell Michael Scotto of HoopsHype (Twitter link). It includes two fully guaranteed years, a trigger date for the third season and a fourth-year team option.

10:55am: Second-round pick Micah Peavy has signed with the Pelicans, the team announced in a press release.

The 23-year-old shooting guard was selected by Washington with the 40th overall pick and was part of a trade that couldn’t become official until the moratorium was lifted on Sunday. Terms of his new contract were not announced.

Peavy was an All-Big East selection at Georgetown last season, averaging 17.2 points, 5.8 rebounds, 3.6 assists and 2.3 steals in 32 games. He played at Texas Tech as a freshman, then spent three years at Texas Christian before joining the Hoyas.

Throughout his five years in college, Peavy averaged 9.5 points, 5.8 rebounds, 2.0 assists and 1.2 steals in 159 total games.

New Orleans signed lottery picks Jeremiah Fears and Derik Queen on Saturday, so all three additions from this year’s draft are now under contract.

Lakers Sign Adou Thiero To Three-Year Contract

July 6th, 2025 at 10:44pm CST by Eli Cohen

The Lakers have signed Adou Thiero to a standard contract, the team confirmed today. in a press release.

According to Michael Scotto of HoopsHype (Twitter link), it’s a three-year, $5.95MM deal for Thiero, which means he received the rookie minimum. The deal, signed using the second-round pick exception, is fully guaranteed for two seasons, with a third-year team option.

Thiero was the 36th pick in the 2025 draft and was selected by the Lakers after they traded the 45th pick and cash to the Timberwolves to move up. That agreement was incorporated into the massive seven-team trade that sent Kevin Durant from the Suns to the Rockets.

Thiero spent one year with Arkansas after playing his first two seasons with Kentucky. He averaged 15.1 points and 5.8 rebounds per game with the Razorbacks while proving himself to be a high-level, versatile wing defender and an elite athlete. The perimeter jumper is a work in progress, as Thiero holds a career three-point percentage of 28.4%, but he provides the Lakers with some needed defensive depth on the wing in the wake of Dorian Finney-Smith‘s exit.

Thiero will not play with the Lakers during Summer League as he continues his recovery from a knee injury he suffered during the college season, according to Khobi Price of the Orange County Register.