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Kings To Receive Second-Rounder, Cash For Perry

The Kings’ solid offseason continues, with the team poised to add an extra draft pick in exchange for an executive that has been with the franchise for less than three months. According to Sam Amick of USA Today (Twitter link), the Knicks and Kings have agreed on compensation for Scott Perry, who will be leaving Sacramento to become the general manager in New York.

The Kings will receive a 2019 second-round pick and cash as compensation for Perry’s departure, per Amick. The USA Today scribe adds (via Twitter) that the Knicks are currently slated to receive the worst two of the Orlando, Cleveland, and Houston second-rounders in 2019. Sacramento will receive the best of those two — the middle pick of the three, in other words.

Perry, who agreed on Thursday to join the Knicks, has had an eventful year so far. He had been working in the Magic’s front office under Rob Hennigan, but was dismissed along with Hennigan when Orlando cleaned house at season’s end. Perry quickly caught on in Sacramento as the executive VP of basketball operations, and helped guide the Kings to a series of offseason moves that included the additions of De’Aaron Fox, George Hill, Zach Randolph, Vince Carter, Justin Jackson, and Harry Giles.

Now, Perry will be headed to New York, where he’ll serve as the team’s general manager under Steve Mills, who will ascend to president. While Mills will have the final say, Perry will have “tremendous freedom” to operate and will be run the club’s day-to-day basketball operations, per Adrian Wojnarowski and Ian Begley of ESPN.com. Wojnarowski adds (via Twitter) that Perry will get a five-year contract from the Knicks.

While the Kings did well to turn Perry’s three-month stint into cash and draft compensation, the team may now be on the lookout for another veteran executive to help add stability to a front office that has made some questionable decisions in recent years.

Raptors, Pacers Finalize Cory Joseph Trade

The Raptors have officially sent Cory Joseph to the Pacers in a trade, the team announced today in a press release. In exchange for Joseph, Toronto acquired the draft rights to forward Emir Preldzic.Cory Joseph vertical

“We are very excited to acquire Cory,” Pacers president of basketball operations Kevin Pritchard said in his team’s announcement of the trade. “He has been on our radar for a while. With Darren Collison and Cory we have two solid, veteran point guards who fit our culture of playing hard and unselfish.”

Joseph was previously reported to be part of a swap that would send Miles to the Raptors in a sign-and-trade. However, Miles’ three-year contract was set to include a player option, and the NBA’s Collective Bargaining Agreement prohibits third-year options on contracts completed in sign-and-trade deals.

As such, the Raptors will trade Joseph and sign Miles in separate transactions. Toronto will sign Miles using the mid-level exception, which starts at $8.406MM. By splitting up the transactions, the Raptors will no longer be able to retain that MLE for another signing, but they’ll pick up another traded player exception instead. After getting a $11.8MM TPE in their DeMarre Carroll deal with the Nets, the Raptors will create a trade exception worth Joseph’s salary ($7.63MM) in today’s swap.

Moving Joseph to Indiana before signing Miles will help the Raptors stay out of luxury tax territory for now. Joseph, who turns 26 next month, played in 80 games for the Raptors last season, averaging 9.3 PPG and 3.3 APG. He’ll team with the newly-signed Collison as Indiana looks to replace Jeff Teague at the point guard position.

Joseph’s contract includes a player option worth $7.945MM for 2018/19, so he could hit the free agent market a year from now if he has a solid season with the Pacers.

As for Preldzic, the 29-year-old forward was the 57th overall pick in the 2009 draft and has remained overseas since then. At this point, he seems unlikely to make the jump stateside, so his NBA rights were likely just included in the deal because each team has to send out something in a trade. This is the fourth time Preldzic’s rights have been traded since he was drafted.

Photo courtesy of USA Today Sports Images.

Celtics Waive Jordan Mickey

The Celtics have officially waived big man Jordan Mickey, the team announced overnight in a press release. The move will clear the way for the club to make Gordon Hayward‘s maximum salary contract official.

The 33rd overall pick in the 2015 draft, Mickey spent two seasons with the Celtics, but spent more time playing for the Maine Red Claws in the G League than he did for the NBA club. Mickey has averaged 18.6 PPG, 9.7 RPG, and 3.8 BPG in 35 total G League contests. In 41 NBA games, he has recorded just 1.4 PPG and 1.1 RPG in very limited action (4.8 MPG).

A cap casualty, Mickey was reportedly on a non-guaranteed contract for 2017/18, making him an obvious candidate to be cut when the Celtics needed to create a little extra cap room. After trading Avery Bradley to the Pistons, the Celtics remained about $300K short of the space required to sign Hayward, meaning the team had to either waive Mickey, waive Demetrius Jackson, or commit to stashing Guerschon Yabusele overseas for another year. With Mickey released, Jackson should be safe for now, and Yabusele could still sign his rookie contract.

Mickey will become an unrestricted free agent this weekend if he goes unclaimed on waivers. Meanwhile, the Celtics figure to make the Hayward and Aron Baynes signings official soon.

Warriors Re-Sign Shaun Livingston

JULY 14: The Warriors have formally re-signed Livington, according to the NBA’s official transactions log.Shaun Livingston vertical

JUNE 30: The Warriors have come to terms on a three-year, $24MM contract with veteran guard Shaun Livingston, Jon Krawczynski of the Associated Press writes. The third year of Livingston’s new deal is only partially guaranteed, tweets Zach Lowe of ESPN.com. The salaries are $8MM for each of the first two years, with a $2MM guarantee for 2019/20.

Last season, the 31-year-old averaged 5.1 points and 1.8 assists per game for the Warriors, establishing himself as a heady, reliable option off the bench for the star-studded squad.

The reported $24MM agreement falls short of what ESPN’s Chris Haynes had offered up as a possible price point for Livingston earlier this week. On Tuesday we wrote that Haynes had projected Livingston could earn in the $10MM-$12MM range annually.

Livingston’s family helped convince him to stay with the Warriors and take less money that he could have gotten on the open market, relays Marcus Thompson of The San Jose Mercury News (Twitter link).

The agreement with Livingston virtually ensures that Golden State will exceed the tax apron, according to cap expert Nate Duncan (Twitter link).

Photo courtesy of USA Today Sports Images.

Lakers Sign Kentavious Caldwell-Pope

July 13: The signing is official, according to the team’s website.

July 11: The Lakers have reached an agreement to sign free agent shooting guard Kentavious Caldwell-Pope, according to Brian Windhorst of ESPN.com (Twitter link). Windhorst reports that Caldwell-Pope will receive a one-year, $18MM deal from the club.Kentavious CaldwellPope vertical

[RELATED: 2017 NBA Free Agent Tracker]

It has been an unusual offseason for Caldwell-Pope, who entered the summer with aspirations of a long-term maximum salary contract, or at least something close to it. However, after they signed Langston Galloway and traded for Avery Bradley, the Pistons determined that Caldwell-Pope was no longer in their future plans, identifying Bradley as the franchise’s shooting guard of the future instead.

A report last week suggested that the Pistons were at one point willing to go up to $80MM over five years for Caldwell-Pope, which “wasn’t even close” to what he was seeking. Unable to find common ground with KCP, Detroit renounced his rights, putting the Lakers in play as a potential suitor. Los Angeles has been unwilling to offer more than one-year contracts this month, and while that wouldn’t have been enough to pry Caldwell-Pope away as a restricted free agent, he was apparently willing to settle for a one-year “balloon” deal as a UFA.

By accepting a one-year contract with the Lakers, Caldwell-Pope should have the opportunity to take on a key scoring role with the team in 2017/18, and will set himself up for a return to unrestricted free agency a year from now.

Although the Georgia native has shown promise as a two-way wing, his production hasn’t really increased since 2014/15. Last season, he averaged a modest 13.8 PPG and 3.3 RPG, with a .399/.350/.832 shooting line. At age 24, he’s a very solid defender, and if he can show an improved offensive game, he’d be in position for a much bigger payday in 2018.

As for the Lakers, they’ll add a promising young wing on something of a trial basis, maintaining their cap flexibility for next summer, when stars like LeBron James, Paul George, and others will reach free agency. While the Lakers figure to prioritize those All-Star free agents, Caldwell-Pope could be a nice Plan B for the team if he plays well in his first season in L.A.

The Lakers entered the day with about $17MM in cap room, so based on the terms of Caldwell-Pope’s deal, it’s possible the club will waive David Nwaba – who has a non-guaranteed contract – or another player to create a little more space. There has been no indication yet of a corresponding roster move, however.

Once they make the Caldwell-Pope signing official, the Lakers will have their $4.3MM room exception available for free agents. According to Adrian Wojnarowski of ESPN (Twitter link), the team is still trying to land Rajon Rondo, though it’s not clear if that room exception would be enough for the veteran point guard.

Photo courtesy of USA Today Sports Images.

Jazz Waive Boris Diaw

The Jazz were expected to wait until the weekend to waive Boris Diaw, but the team decided not to wait and has placed him on waivers today, Shams Charania of The Vertical reports (Twitter link).

Diaw had one year left on his contract with a salary of $7.5MM for the 2017/18 season. That figure was set to become guaranteed at the end of the week and Utah was exploring trade scenarios involving the big man.

The 14-year veteran came to the Jazz in a trade last offseason and although he made 33 starts, he didn’t produce up to his normal standards. He scored 4.6 points per game, which was his lowest mark since his rookie season.

The Jazz are looking to make the playoffs for the second consecutive year and they’ve been busy adding veterans since Gordon Hayward departed. Earlier this week, the team inked  Thabo Sefolosha (two years, $10.5MM), Jonas Jerebko (two years, $8.2MM), and Ekpe Udoh (two years, $6.5MM). Utah will presumably use the cap space created from waiving Diaw as well as the team’s mid-level exception to fit in those deals.

Wizards Bring Back Otto Porter

The Wizards have officially matched the offer sheet which was extended to Otto Porter by the Brooklyn Nets, according to the team’s website. The team did not disclose the details of the contract, but it’ll be a four-year, $106.5MM deal, according to a previous report. Otto Porter vertical

“After two years at Georgetown and four years with the Wizards here in Washington, D.C., I’m excited to be staying home,” said Porter. “I want our great fans to know that I will continue to work hard to improve my game in all areas and I hope to make an even bigger contribution to the Wizards’ success in the future.” 

Porter had a career year during the 2016/17 season. He shot 43.4% from long-range, a figure which ranked fourth in the league.

“Otto has developed into a vital part of our young core, which is why we made it clear that our priority was to keep him here to maintain continuity and build on the success of this group heading into next season and beyond,” team president Ernie Grunfeld said. “His versatility, basketball IQ and three-point shooting combine to make him a great fit for us on the floor while his character and work in the community show why we’re so pleased to have him as a cornerstone of our franchise.” 

The deal will reportedly include a 15% trade kicker and a player option for the fourth season. The former No.3 overall pick will also receive half of his salary by October 1st of each year, which is the maximum allowed. Porter is now the team’s highest-paid player.

Lakers, Alex Caruso Agree To Two-Way Deal

The Lakers are signing Summer League standout Alex Caruso to a deal, sources tell Sportando (Twitter link). Ramona Shelburne of ESPN.com adds further details, reporting that Caruso will get a two-way, two-year contract from Los Angeles.

Caruso, a 6’4″ guard, went undrafted out of Texas A&M in 2016. He caught in with the Thunder for training camp, but was cut and ultimately landed with the club’s G League affiliate, the Oklahoma City Blue. In 50 games for the Blue, Caruso averaged 11.9 PPG, 5.2 APG, and 2.2 SPG, with a .459/.401/.749 shooting line.

Caruso’s G League performance last season earned him a shot with the Lakers in Summer League play this summer, and he has looked good in limited minutes in Vegas, averaging 6.5 PPG, 3.3 APG, and 1.3 SPG in four games for L.A.

By securing him to a two-way contract, the Lakers will gain Caruso’s G League rights, so he’s on track to play primarily for the South Bay Lakers in 2017/18. For more details on how his two-way contract will work, be sure to check out our FAQ on the subject.

Spurs Make Jonathon Simmons Unrestricted FA

1:00pm: Having spoken to Simmons’ representatives, Jabari Young of The San Antonio Express-News (Twitter link) says they are no longer in talks with the Spurs. Referring to today’s move as “last call,” Young strongly suggests a reunion isn’t in store for Simmons and San Antonio.

Meanwhile, Wojnarowski adds (via Twitter) that Simmons is in talks with “several” other clubs, while Charania confirms the UFA guard is focused on signing elsewhere.

11:27am: The Spurs continue to negotiate with Simmons as an unrestricted free agent, tweets Adrian Wojnarowski of ESPN.

If that’s the case, it seems the team may have simply rescinded Simmons’ qualifying offer rather than renouncing his rights entirely. Withdrawing Simmons’ QO would leave the Spurs with his Early Bird rights, while renouncing him would leave only the bi-annual exception or Non-Bird rights for a new deal.

11:04am: In a surprising move, the Spurs have renounced Jonathon Simmons, making him an unrestricted free agent, reports Shams Charania of The Vertical (Twitter link). Today is the last day for teams to withdraw qualifying offers for restricted free agents, so San Antonio made the move just before the deadline.

A former undrafted free agent out of Houston, Simmons played a career-high 78 games for the Spurs last season, averaging 6.2 PPG, 2.1 RPG, and 1.6 APG in a part-time role for the club. Although he has played just two years in the NBA, Simmons will turn 28 in September.

Despite his age and his modest production last year, however, the 6’6″ swingman has been viewed as one of the more intriguing players on the shooting guard market, given his two-way potential and his ability to play a key role for the West’s second-best team. Simmons also took on a larger role in the postseason, averaging 15.3 PPG and 3.3 APG in the Warriors’ four-game sweep of the Spurs.

The Kings, Clippers, Knicks, and Timberwolves are among the teams that have expressed interest in Simmons since free agency got underway, though most of those clubs no longer have the flexibility to make a competitive offer. Sacramento still has some room left, and under-the-cap clubs like the Nets and Sixers could be worth watching as well.

The Spurs’ decision to renounce Simmons is somewhat unexpected, considering the team was said to be preparing an offer in the range of $9MM annually for him at the start of free agency. However, San Antonio may have viewed Simmons as a non-essential piece after using the mid-level exception to bring Rudy Gay aboard.

Raptors Trade DeMarre Carroll To Nets

JULY 13: The trade is now official, the Nets and Raptors announced today in a pair of press releases. Brooklyn receives Carroll, the Raptors’ 2018 first-round pick, and the less favorable of the Lakers’ and Magic’s 2018 second-round picks. The Raptors receive Hamilton and create an $11.8MM trade exception.

JULY 8: The Raptors have agreed to trade DeMarre Carroll to the Nets in a salary-dump deal, reports Adrian Wojnarowski of ESPN. According to Wojnarowski, Brooklyn will receive first- and second-round picks for 2018 from the Raptors, and will send Justin Hamilton to Toronto.DeMarre Caroll horizontal

Even though they lost P.J. Tucker and Patrick Patterson in free agency, the Raptors’ new agreements with Kyle Lowry and Serge Ibaka pushed them into luxury-tax territory. Team ownership had expressed a willingness to pay the tax in certain scenarios, but in this case, Toronto was believed to be looking for a way back below that threshold, having also reportedly shopped Cory Joseph and Jonas Valanciunas.

In Carroll, the Nets will be landing a veteran swingman who has battled health issues since leaving the Hawks in 2015. Carroll signed a lucrative four-year deal with the Raptors that summer, but only appeared in 26 games in his first season with the franchise, and never appeared to be back to his old self in 2016/17, despite starting 72 games. In 26.1 minutes per contest last season, Carroll averaged 8.9 PPG and 3.8 RPG, with a shooting line of .400/.341/.761.

Carroll is owed $14.8MM in 2017/18 and $15.4MM in 2018/19, while Hamilton’s expiring contract is worth just $3MM. However, having had their offer sheet to Otto Porter matched by the Wizards, the Nets will have an excess of cap room to accommodate a salary dump of this nature, and should still have $15MM+ available if they want to pursue another free agent or take on another contract.

Meanwhile, the Raptors project to get out of tax territory by moving Carroll, and should have the flexibility to retain Joseph and Valanciunas, who are key pieces in their rotation. The team also still has its full mid-level exception available, though team salary isn’t very far below the $119.266MM tax line, and using more than the taxpayer MLE would create a hard cap of $125.266MM. As such, the club may not be eager to use that MLE.

Hamilton, 27, will head to Toronto in the swap, coming off a career year for Brooklyn. The veteran center averaged 6.9 PPG and 4.1 RPG in 64 games (18.4 MPG) for the Nets. He also made a career-best 0.9 threes per game, albeit at a mediocre 30.6% rate. Hamilton could be an interesting addition to Toronto’s frontcourt, but the Raptors figure to be on the lookout for help on the wing, with big-bodied swingman Carroll and Tucker both moving on this summer.

As for the draft picks changing hands in this deal, the Raptors’ first-round pick heading to the Nets will be lottery-protected, per Jeff Zillgitt of USA Today (Twitter link). Toronto has already traded its own 2018 second-round pick, but holds the rights to the less favorable of the Lakers’ and Magic’s second-rounder, so that figures to be the other selection headed to Brooklyn.

The deal won’t be finalized until the Nets’ cap room for the Porter offer sheet officially opens back up.

Photo courtesy of USA Today Sports Images.