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Cavaliers Sign Derrick Rose

July 25th, 2017 at 1:04pm CST by ChrisCrouse

JULY 25: The Cavaliers have officially signed Rose, the team announced today in a press release.

“We are very excited to be able to add a player of Derrick’s caliber and experience to the team,” new Cavs GM Koby Altman said in a statement. “Derrick could have gone to a number of other teams, but his specific mindset, goals and total focus and commitment to winning are what resulted in him signing with the Cavaliers. We are confident he will be a very good fit with our organization and we look forward to the many ways he will contribute to the team.”

JULY 24: The Cavaliers will sign Derrick Rose, Shams Charania of The Vertical reports (Twitter link). The point guard met with the organization earlier today and Charania adds that Rose has already completed his physical with the team.

The pact will be a one-year, minimum salary arrangement, David Aldridge of NBA.com tweets. It was previously reported that the two sides were in serious discussions about a one-year deal.

Rumors of Rose earning a max contract swirled earlier this season, but it appeared increasingly unlikely that he would land that kind of offer, particularly after suffering another knee injury late in the 2016/17 campaign.

Rose’s decision to join Cleveland comes just days after news of Kyrie Irving‘s trade demands became public. If the team intends to give Irving a new home, Rose should be able to get an opportunity to win as well as a chance to play a meaningful role.

The 2010/11 MVP was also considering the Lakers, a team in which he met with last week. Los Angeles may have been able to offer him an increased role, but the organization isn’t close to being championship contenders.

The Cavaliers will be Rose’s third team as he enters his 10th season. He spent eight years in Chicago before being dealt to the Knicks.

Photo courtesy of USA Today Sports Images.

Jazz Re-Sign Joe Ingles

July 25th, 2017 at 12:03pm CST by Arthur Hill

JULY 25: Three and a half weeks after reaching an agreement with him, the Jazz have officially re-signed Ingles, the team announced today in a press release. The delay was a result of Utah using up its cap room before going over the cap to finalize Ingles’ deal.

JULY 1: Restricted free agent Joe Ingles is finalizing an agreement to stay in Utah, tweets Adrian Wojnarowski of ESPN.com. The deal will reportedly pay him $52MM over four seasons (Twitter link). There are no options for either side, according to Sam Amick of USA Today (Twitter link).

Getting Ingles back in the fold could help the Jazz make their case to keep Gordon Hayward, Wojnarowski notes. Ingles and Hayward are close friends and share the same agent, Mark Bartelstein of Priority Sports (Twitter link).

[RELATED: 2017 NBA Free Agent Tracker]

Ingles, a 29-year-old small forward, has spent his entire three-year career in Utah. He appeared in all 82 games this season, and while he averaged a modest 7.1 points per night, he showed an impressive ability to make a three-pointer (.441 3PT%) and provided solid defense.

Ingles reportedly had a meeting scheduled with the Nets on Sunday and there was at least one report indicating that the Magic were preparing a significant offer, though a separate report suggested Orlando’s interest was overstated. The Clippers were also planning to meet with Ingles this weekend.

Photo courtesy of USA Today Sports Images.

Pelicans Waive Quinn Cook, Axel Toupane

July 25th, 2017 at 11:55am CST by Luke Adams

11:55am: Bobby Marks of ESPN suggests that Toupane also had a partial guarantee on his contract that would have increased from $25K to $200K if he hadn’t been cut today. By waiving both Toupane and Cook, the Pelicans will carry a total of $50K in dead money for the duo — that figure would’ve increased to $300K after today.

11:12am: The Pelicans have reduced their offseason roster by two players, announcing today in a press release that they’ve waived guard Quinn Cook and swingman Axel Toupane. Cook and Toupane will become unrestricted free agents later this week if and when they clears waivers.

Both Cook and Toupane had been on non-guaranteed minimum salary contracts in New Orleans. According to Basketball Insiders’ data, Cook’s salary became partially guaranteed for $25K earlier this month, and would have become guaranteed for another $75K if he had remained on the roster through July 25. As for Toupane, his deal was fully non-guaranteed until January.

Cook and Toupane both signed contracts with the Pelicans during the final days of the 2016/17 season, allowing the franchise to get a look at both players down the stretch and over the summer before making a determination on their status. Apparently, New Orleans decided that neither youngster was in the team’s 2017/18 plans. The Pelicans still have one player – Jordan Crawford – on a non-guaranteed contract.

Having played well in the G League over the last couple years, Cook and Toupane should be candidates for training camp invites or two-way contracts from other NBA teams once they clear waivers.

Brian Roberts To Play In Greece

July 25th, 2017 at 11:48am CST by Luke Adams

JULY 25: According to international basketball journalist David Pick (Twitter link), Roberts’ deal is worth $950K in year one and $1MM in year two, with an NBA out in between. That opt-out comes when we expected, but the value of the deal is smaller than previously reported.

JULY 24: NBA free agent point guard Brian Roberts has signed with Greek club Olympiacos, the team announced this weekend (Twitter link). Roberts will receive a two-year contract from the franchise.

According to Michael Scotto of Basketball Insiders, Roberts’ new two-year deal will be worth $4MM, and will also include an NBA opt-out. While Scotto doesn’t specify the details on that opt-out clause, I’d expect Roberts would have the opportunity to return to the NBA next offseason, following the first year of the deal.

Roberts, who played his college ball at Dayton, made his NBA debut in 2012 and has spent the last several seasons with New Orleans, Charlotte, and Portland. In 2016/17, he appeared in 41 games for the Hornets, but saw limited minutes, averaging 3.5 PPG and 1.3 APG.

The Hornets, who had been seeking a reliable backup for Kemba Walker, tried Roberts and Ramon Sessions there last season, but both players were free agents this summer and it appears neither will return. Sessions remains on the market, but Charlotte signed Michael Carter-Williams to be Walker’s new backup.

Meanwhile, Roberts will have the opportunity to play a larger role overseas next year for Olympiacos, and will also get a pay raise after earning the minimum in Charlotte. His new Greek club earned a spot in the EuroLeague Final Four in 2016/17, falling in the championship game to Turkish team Fenerbahce.

Magic Sign Wesley Iwundu To Three-Year Deal

July 24th, 2017 at 10:53pm CST by ChrisCrouse

The Magic have signed Wesley Iwundu to a three-year, $4.1MM deal, according to Micheal Scotto of Basketball Insiders. Scotto adds that Iwundu’s deal is fully guaranteed.

Iwundu received more guaranteed money than any other second-rounder in this year’s draft class.

Orlando selected the swingman with the No. 33 overall pick in the 2017 draft out of Kansas State University. As a senior, Iwundu scored 13.0 points while pulling down 6.3 rebounds per game. He made 37.6% of his shots from behind the arc on 2.4 attempts per contest.

Pistons Sign Luis Montero To Two-Way Deal

July 24th, 2017 at 10:03pm CST by Luke Adams

July 24: The signing is official, according to a team press release.

July 21: Free agent guard Luis Montero is poised to sign a two-way contract with the Pistons, a league source tells Jorge Sierra of HoopsHype. It will be the first two-way deal in franchise history for Detroit.

Montero, 24, went undrafted in 2015, but caught on with the Trail Blazers and made his NBA debut for Portland during the 2015/16 season. After playing limited minutes in 12 games for the Blazers, Montero has spent most of his time with various G League clubs.

In 2016/17, Montero averaged 8.8 PPG and 6.2 RPG in 49 total contests for the Reno Bighorns and the Sioux Falls Skyforce.

Our two-way contract FAQ provides more details on two-way deals, while our tracker shows which players have signed or agreed to them so far.

Spurs Sign Matt Costello To Two-Way Deal

July 24th, 2017 at 5:44pm CST by Luke Adams

July 24: The signing is official, according to a team press release.

July 20: The Spurs are set to sign Summer League standout Matt Costello to a two-way contract, according to ESPN’s Zach Lowe (Twitter link). It will be the first two-way deal in the franchise’s history.

A Michigan State alum, Costello went undrafted in 2016, but caught on with the Hawks and spent training camp with the club. The big man didn’t make Atlanta’s regular season roster, but was signed – and then waived again – by the Grizzlies at the end of the preseason so that Memphis could gain his G League rights. Costello ultimately spent the season with Iowa, averaging 9.5 PPG and 10.3 RPG in 23 contests.

Costello showed off his rebounding prowess again this summer in Las Vegas, as his 12.0 RPG led all players in Summer League action. The 23-year-old played for the Timberwolves’ squad in Summer League, and according to Darren Wolfson of 5 Eyewitness News (Twitter link), Minnesota also had significant interest in locking up Costello to a two-way contract. However, he’ll make the move to San Antonio, and figures to spend much of 2017/18 with the Austin Spurs.

For more information on how two-way contracts work and how much they pay, be sure to check out our FAQ.

Heat Sign Derrick Walton Jr. To Two-Way Deal

July 24th, 2017 at 5:27pm CST by ChrisCrouse

Miami has signed Derrick Walton Jr. to a two-way deal, according to the team’s website. The contract will be the first two-way deal in franchise history, as our updated 2017/18 NBA Two-Way Contract Tracker indicates.

Players on two-way deals will spend most of their season in the G-League since they cannot spend more than 45 days with an NBA club, as our glossary page on two-way contracts shows.

Walton Jr. spent four seasons at the University of Michigan, where he scored 11.6 points per game. As a senior, he scored 15.5 points per game while adding 4.9 assists and 4.8 rebounds per contest.

Cavaliers Hire Koby Altman As GM

July 24th, 2017 at 5:12pm CST by ChrisCrouse

The Cavaliers have named Koby Altman their new GM, according to the team’s website.

Altman, who spent the last five seasons with the franchise, was promoted to Assistant GM in September of 2016. He’s been serving as the interim GM since the team parted with David Griffin.

“Over the past month, Koby Altman has led our front office group through this transition period, impressing many inside the franchise and outside the organization, as well,” Owner Dan Gilbert said. “We are very excited that he will now be officially leading the basketball side of our franchise. Koby has the credentials, knowledge, experience and instincts to be an outstanding General Manager.

“In addition to these positive attributes and outstanding relationships around the league, Koby will inspire and impact the best possible culture throughout the organization. We are going to see a capable and passionate leader who will also cultivate new ideas and innovation. The speed of the game is ever faster on the court and in the front offices around our league. I am confident that Koby is equipped and prepared to lead and succeed in this dynamic environment.”

Gilbert added that other front office moves are expected to take place. “We are looking forward to announcing additional restructuring involving these remarkable executives in the very near future,” said Gilbert.

Altman has his work cut out for him in Cleveland. Kyrie Irving recently requested a trade and as Austin Kent of Hoops Rumors noted, the organization may have helped itself in trade negotiations by legitimizing Altman’s role.

Pau Gasol Re-Signs With Spurs

July 24th, 2017 at 4:33pm CST by Dana Gauruder

July 24: The signing is official, according to a team press release. The deal will be for $48MM over three seasons with the final year’s salary being partially guaranteed, Adrian Wojnarowski of ESPN.com reports (ESPN Now link)

July 21: Veteran center Pau Gasol has agreed to a three-year contract with the Spurs, Adrian Wojnarowski of ESPN.com reports. The third year will be partially guaranteed, Wojnarowski adds.

Gasol opted out of the final year of his contract this summer but was expected all along to rejoin the Spurs. Gasol, 37, left $16.2MM on the table when he made that decision but he wanted to facilitate the team’s offseason.

The tradeoff was getting a couple more years of security. That helped the Spurs sign several free agents, including Rudy Gay.

Gasol played a lesser role last seson for San Antonio than he had for other clubs. However, he remained efficient when he did play. Averaging a career-low 25.4 minutes per game, the Spaniard chipped in 12.4 PPG, 7.8 RPG, and 1.1 BPG. He also developed into a three-point shooter, shooting an eye-popping 53.8% from outside, with 0.9 threes per game.