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Raptors Re-Sign Kyle Lowry

July 7th, 2017 at 11:39am CST by Luke Adams

JULY 7, 11:39am: The Raptors have officially signed Lowry to his new deal, the team announced today in a press release.

“Kyle has been a valuable part of our team’s success the past five years,” Raptors president Masai Ujiri said in a statement. “He has grown as a player and person during his time in Toronto and we are excited that he wants to be here to help us continue building a championship program.”

JULY 2, 4:24pm: Lowry’s new deal with the Raptors will be for three years and $100MM, according to Michael Scotto of Basketball Insiders (Twitter link). That’s just a little less than a maximum salary deal for the veteran point guard, and it includes incentives, tweets Sam Amick of USA Today.

4:19pm: The Raptors and Kyle Lowry have agreed to a new deal. Terms of the agreement aren’t yet known, but Lowry has announced in a piece for The Players’ Tribune that he has decided to remain with Toronto.

“I’m coming back to Toronto because my heart is telling me that it’s home — and because staying home, for me and my family, feels like the right thing to do,” Lowry writes. “My heart is telling me that this is the best city in the world, with the best basketball fans in the world. It’s telling me that the Raptors can be a championship-level team, sooner than later. And I’ll be honest (and don’t hate) — it’s telling me that I’ve still never had poutine.”

[RELATED: 2017 NBA Free Agent Tracker]

Lowry, 31, entered this summer as one of the top free agents available at point guard or any position. He’s coming off his third straight All-Star season, having averaged a career-best 22.4 PPG to go along with 7.0 APG, 4.8 RPG, 1.5 SPG, and a shooting line of .464/.412/.819. The Philadelphia native was limited to 60 games due to a broken wrist and missed Toronto’s last two postseason contests due to an ankle injury, but will be 100% for the start of the 2017/18 season.

While it wasn’t a sure thing that Lowry would re-sign with the Raptors this season, many of his other potential suitors addressed their point guard position in other ways within the last week or two. For instance, the Sixers drafted Markelle Fultz, the Nets acquired D’Angelo Russell in a trade, and the Timberwolves committed to sign Jeff Teague.

Those moves – and others – all nudged Lowry back in the direction of Toronto, and his return looked more than ever like a lock when Serge Ibaka reached an agreement with the club earlier today. Lowry and Ibaka share an agent, ASM’s Andy Miller, and it made a lot of sense for the team to re-sign one player if the other returned, since the Raps wouldn’t have any cap room to sign a suitable replacement.

With both Lowry and Ibaka back in the fold, the Raptors project to be well over the luxury tax line, but they’re exploring ways to reduce team salary. The club is said to be discussing a Cory Joseph trade with the Pacers, which would move Joseph’s $7.63MM salary in return for draft-pick compensation. DeMarre Carroll and Jonas Valanciunas are also trade candidates, though it would be virtually impossible to move Carroll without attaching an asset or two to him.

Lowry and Ibaka both agreed to three-year deals, which puts them on track to expire in the summer of 2020. That’s the same offseason that DeMar DeRozan will have the chance to opt out and return to the free agent market as well, so it looks like Toronto aims to contend with its same core for at least the short-term future. The Raps will have the opportunity to potentially reconsider their options by that summer of 2020.

The development of some of the Raptors young players could be key in determining whether or not the club can take the next step and truly challenge for a spot in the NBA Finals. Delon Wright and Fred VanVleet, in particular, could be asked to take on larger roles backing up Lowry if Joseph is dealt. Norman Powell also figures to play more minutes with P.J. Tucker headed to Houston, while Jakob Poeltl and Lucas Nogueira could see more playing time in the frontcourt if Patrick Patterson departs and/or Jonas Valanciunas is traded.

Photo courtesy of USA Today Sports Images.

Pistons Renounce Kentavious Caldwell-Pope

July 7th, 2017 at 11:04am CST by Luke Adams

11:04am: The Pistons are renouncing Caldwell-Pope, which will make him an unrestricted free agent, tweets ESPN’s Adrian Wojnarowski.

The timing of the move is interested, since the Nets’ cap room may be tied up for several days as they wait for official word from the Wizards on Porter. We’ll see if Caldwell-Pope waits on Brooklyn or quickly pursues a deal with another team.

11:02am: In the wake of their trade agreement for Avery Bradley, the Pistons are prepared to move on from Kentavious Caldwell-Pope, reports Vince Ellis of The Detroit Free Press (Twitter link). According to Ellis, Detroit is looking to add “two more guys” to its roster. But Caldwell-Pope may not be one of them.

Talks between the Pistons and Caldwell-Pope haven’t progressed so far, as Brian Windhorst of ESPN tweeted earlier today. Windhorst noted that there’s a possibility Detroit will pull Caldwell-Pope’s offer and make him an unrestricted free agent. While that hasn’t happened yet, it doesn’t look like the Pistons will match a big offer sheet for KCP.

Caldwell-Pope, 24, is viewed as one of the top two-way wings left on the market, but the qualifying offer he received from the Pistons gives Detroit the opportunity to match any offer sheet he signed. However, having added Langston Galloway, Eric Moreland, and Bradley, the Pistons have upwards of $109MM in salary commitments and have a hard cap of $125.266MM.

While Caldwell-Pope may not receive a maximum salary deal, any offer worth more than about half the max would put the Pistons in a tough spot. And with Galloway and Bradley now in the mix, the team’s need for another guard has diminished — especially since Bradley can provide the sort of three-point shooting and defense that KCP did.

A report from ESPN’s Adrian Wojnarowski earlier today suggested that the Pistons may be aggressive in trying to extend Bradley, but the club’s cap situation limits its ability to make a competitive offer. Ellis (Twitter link) hears from a source that Bradley won’t do an in-season extension since the money is too low, but the team still hopes to have him long term in Detroit. He’ll be an unrestricted free agent next summer and the Pistons will hold his Bird rights.

Whether or not Caldwell-Pope’s qualifying offer is rescinded by the Pistons, it may make sense for his camp to wait to see what happens with the Nets and Otto Porter. The Wizards are expected to match Brooklyn’s offer sheet for Porter, and Caldwell-Pope may be next up on the Nets’ wish list.

Raptors Re-Sign Serge Ibaka To Three-Year Deal

July 7th, 2017 at 10:26am CST by Luke Adams

JULY 7: The Raptors have issued a press release formally confirming their new deal with Ibaka.

“We are thrilled with the skills and intangibles Serge brings to our team,” Raptors president Masai Ujiri said in a statement. “He is one of the top two-way power forwards in the NBA and his ability to stretch the floor is a valuable asset today’s game.”

JULY 2: The Raptors have reached an agreement on a new deal for Serge Ibaka, reports Adrian Wojnarowski of ESPN. According to Wojnarowski, Ibaka has agreed to sign a three-year contract worth $65MM to remain in Toronto.

Ibaka, who will turn 28 in February, initially joined the Raptors in a trade deadline deal back in February, as the Magic sent him to Toronto in exchange for a package that featured Terrence Ross and a first-round pick. The veteran big man averaged 14.2 PPG, 6.8 RPG, and 1.4 BPG with a .398 3PT% down the stretch for the Raptors, and there was a sense that the two sides wanted to continue the relationship beyond this year.

Ibaka is no longer the dominant rim protector that he was during his prime years in Oklahoma City, when he led the NBA in blocks in consecutive seasons. However, he has developed into a legitimate outside threat, setting new career bests in three-point percentage (39.1%) and threes per game (1.6) in 2016/17.

With Ibaka back in the fold, it seems likely that the Raptors will also lock up free agent point guard Kyle Lowry. Ibaka and Lowry share an agent in ASM’s Andy Miller, and while the duo isn’t necessarily viewed as a package deal this summer, it makes sense for Toronto to retain both, since the team won’t have the cap flexibility to sign a comparable replacement for Lowry if he leaves. The fact that the Raptors are reportedly discussing a Cory Joseph trade with Indiana also bodes well for Lowry’s return.

[RELATED UPDATE: Raptors to re-sign Kyle Lowry]

It remains to be seen how Ibaka’s new deal with the Raptors will affect incumbent center Jonas Valanciunas. The majority of Toronto’s most effective lineups late in the 2016/17 season had Ibaka playing center, and he seems to be a better fit at the five than the four. Valanciunas would be a pricey backup at $15MM+, and if Lowry gets a big payday, the Raptors will go over the tax line, so the young center could be on the trading block again.

As Zach Lowe of ESPN.com observes (via Twitter), re-signing Lowry to a deal near the max and trading Joseph wouldn’t get the Raptors below the tax threshold. Toronto is looking to move contracts, according to Lowe, who notes that Valanciunas is the most interesting trade chip to watch, since the Raps would have to attach an asset or two to DeMarre Carroll to move his deal.

Photo courtesy of USA Today Sports Images.

Knicks Waive Marshall Plumlee

July 7th, 2017 at 8:53am CST by Luke Adams

The Knicks have waived Marshall Plumlee, the team announced today (via Twitter). Plumlee will become an unrestricted free agent, assuming he clears waivers.

Plumlee, who turns 25 next Friday, signed with the Knicks last offseason as an undrafted free agent out of Duke. In his rookie season, he played sparingly for New York, averaging 1.9 PPG and 2.4 RPG in 21 contests (8.1 MPG). He had a larger role in 15 G League games for the Westchester Knicks, averaging 12.3 PPG and 9.1 RPG.

Plumlee’s 2017/18 salary was partially guaranteed for $100K, but the rest of his minimum salary wasn’t due to become fully guaranteed until October, according to Basketball Insiders. As such, the Knicks will be off the hook for the remaining $1,212,611.

Knicks Sign Tim Hardaway To Offer Sheet

July 6th, 2017 at 10:23pm CST by ChrisCrouse

Tim Hardaway Jr. has signed an offer sheet from the Knicks, Shams Charania of The Vertical reports (Twitter link). Adrian Wojnarowski of ESPN.com tweets that the deal is for $71MM over four years.

The deal contains a player option on the final year of the deal, Jeff Zillgitt of USA Today adds (Twitter link). ESPN’s Ian Begley tweets that the contract contains a 15% trade kicker. The Hawks will have two days to make a decision on whether or not to match all the terms of the deal.

New York currently doesn’t have the cap space to make this lucrative of an offer. However, the organization has an easy path to opening up cap space in that it can simply renounce the rights to Derrick Rose, as ESPN’s Bobby Marks notes (Twitter link). Rose has a cap hold of approximately $29.7MM.

Hardaway Jr. was drafted by New York with the No. 24 pick in the 2013 draft. The Knicks traded him to the Hawks in a 2015 draft night trade that netted them Jerian Grant. Grant was traded to the Bulls during the following offseason as part of a package that brought Rose to the Big Apple.

Tim Hardaway Sr. tells Marc Berman of the New York Post (Twitter link) that his son has no “bad blood” with the organization. The shooting guard knows that the executive who traded him is no longer with the organization.

Kevin Durant Re-Signs With Warriors

July 6th, 2017 at 8:08pm CST by Dana Gauruder

JULY 6: Durant has officially re-signed with the Warriors, per RealGM’s transactions log.

JULY 3: Kevin Durant has agreed to a two-year, $53MM contact with the Warriors, Chris Haynes of ESPN.com tweets. The second year will be a player option, Haynes adds in another tweet. Durant’s salary for next season will be $25MM, Sam Amick of USA Today tweets.

Durant’s willingness to take far less than a 20% raise aided the Warriors’ efforts to retain their free agents, Marcus Thompson of the San Jose Mercury News reports.

Durant, who opted out of his contract with the full intention of re-signing with Golden State, was eligible to receive a maximum starting salary of $34.65MM. Durant, who made $26.54MM last season, decided to take significantly less than the expected 20% raise that would have secured him a $31.8MM salary for next season.

That is a major reason why the Warriors successfully negotiated new contracts with free agents Andre Iguodala and Shaun Livingston. Iguodala, who was sought after by numerous clubs, agreed to a three-year, $48MM deal while Livingston agreed to stay put for three years and $24MM. In essence, as Thompson points out, Durant is gifting part of his salary for next season to his teammates.

Durant’s discount will also help ownership save some money on its luxury tax bill, depending upon how far over the tax line the franchise goes. Durant’s first-year salary will save the franchise approximately $20MM, according to ESPN’s Bobby Marks, who projects Golden State will now pay $32.4MM instead of $52.4MM in luxury taxes.

Photo courtesy of USA Today Sports Images.

David West Re-Signs With Warriors, Will Retire In 2018

July 6th, 2017 at 8:00pm CST by Luke Adams

JULY 6: The Warriors have officially re-signed West, according to RealGM’s transactions log.

JULY 1: Veteran big man David West has agreed to return to the Warriors on a one-year contract, according to David Aldridge of TNT (via Twitter). Aldridge reports that the 2017/18 season will be West’s last year in the NBA.

The details of West’s deal aren’t yet known, but a minimum salary contract seems likely. West’s minimum salary for 2017/18 is $2,328,652 but the Warriors would only need to pay $1,471,382, as outlined in Hoops Rumors’ minimum salaries chart for next season.

West, 38, sought an NBA championship the last two seasons; he was unsuccessful in his lone season with the Spurs but finally captured the once elusive gold as a member of this season’s Warriors team. In 68 games off Golden State’s bench, West averaged 4.6 PPG and 3.0 RPG while playing just under 13 minutes per game.

Once a perennial 20 PPG threat with the Hornets and a solid contributor with the Pacers, West has embraced his role as a veteran leader and it paid dividends last season. He will give it one more try for another ring next season before calling it a career after what would be 15 NBA seasons.

Spurs Sign Rudy Gay

July 6th, 2017 at 7:49pm CST by Luke Adams

7:49pm: The Spurs have officially signed Gay, the team announced in a press release.

7:15pm: The Spurs have reached an agreement with free agent forward Rudy Gay, reports Adrian Wojnarowski of ESPN (via Twitter). According to Wojnarowski, Gay’s new deal with San Antonio will be a two-year contract worth $17MM+ and will feature a second-year player option (Twitter link).

Since striking a deal to bring back point guard Patty Mills shortly after the new league year got underway, the Spurs have been fairly quiet this week as they waited out the first couple waves of free agency. However, Wojnarowski reports (via Twitter) that the team “worked hard” to close a deal with Gay over the last 72 hours.

Gay, who will turn 31 in August, averaged 18.7 PPG and 6.3 RPG in 30 games for the Kings this past season before going down with an Achilles injury. Despite the injury, the veteran forward elected to decline a player option for 2017/18 that would have paid him approximately $14.26MM.

Gay will earn less than that for the Spurs this season, as San Antonio will use its mid-level exception to complete the signing. The mid-level for a non-taxpaying team like the Spurs is worth $8.406MM in 2017/18, and Gay’s two-year total will be $17.232MM. Although he’ll take a pay cut, the UConn alum seemed frustrated with the organization in Sacramento, and is likely thrilled to be joining a championship contender in San Antonio.

Despite committing to Gay, the Spurs retain the flexibility to match an offer sheet for Jonathon Simmons, who is still on the restricted free agent market.

As for Gay’s other suitors, the Jazz were said to have interest, as were the Heat and Thunder. However, Utah has been working to land Jae Crowder from the Celtics, while Oklahoma City used its mid-level exception on Patrick Patterson and Miami used its remaining cap room on Kelly Olynyk.

Photo courtesy of USA Today Sports Images.

Mavericks Re-Sign Dirk Nowitzki

July 6th, 2017 at 7:42pm CST by Arthur Hill

7:42pm: The Mavericks have officially re-signed Nowitzki, the team announced today in a press release.

1:15pm: The Mavericks are finalizing a two-year, $10MM deal with Dirk Nowitzki, writes Tim MacMahon of ESPN.com. The second season will be a team option, so Nowitzki could be a free agent again next summer.

That marks a serious reduction for Nowitzki, who could have made $25MM next season if the Mavericks hadn’t declined his option, but owner Mark Cuban seems likely to make up for it at some point. Nowitzki has been with the franchise for 19 seasons and has shown a willingness to be flexible with his contract to help the team create cap space.

Dallas has $45MM in combined cap holds for Nowitzki and Nerlens Noel, so this new deal should give the team some flexibility.

Nowitzki was slowed by an early-season Achilles injury this year, but returned to average 14.2 points and 6.5 rebounds in 54 games. He turned 39 last month, but hasn’t given any indication that retirement is near.

Photo courtesy of USA Today Sports Images.

Wizards Receive Otto Porter’s Offer Sheet From Nets

July 6th, 2017 at 6:40pm CST by ChrisCrouse

The Wizards have received Otto Porter‘s four-year, $106.5MM offer sheet from the Nets, according to Adrian Wojnarowski of ESPN.com (Twitter link). The deal contains a player option on the final year and ESPN’s Zach Lowe reports (Twitter link) that the contract includes a 15% trade kicker.

Porter’s deal has a peculiar wrinkle in it that will have him collect 50% of his annual salary by October 1 every season, Lowe tweets. Such an arrangement is not common in the NBA. ESPN’s Bobby Marks notes (Twitter link) that the 50% threshold is the maximum allowed under the CBA.

Tim Bontemps of the Washington Post reports that the Wizards not only plan on matching — they also tie up Brooklyn’s cap space for as long as possible. The deadline for the team to match is July 8 at midnight, but Porter still needs to pass a physical with the Wizards and he’ll have two days to do so once Washington matches the offer.

At that point, Washington would have two days to announce that Porter has passed the physical. That means the Georgetown product’s offer sheet could theoretically stay on the Brooklyn’s cap through July 12.

The Wizards – one of three franchises (along with Charlotte and New Orleans) to never pay the tax – will be over the luxury tax line once they match the offer sheet. The club now intends to complete its reported deal with Jodie Meeks using part of the taxpayer mid-level exception rather than the bi-annual exception, to avoid being hard-capped.

The Nets have been aggressive with restricted free agents since Sean Marks took over GM duties. Last year, the team presented Allen Crabbe, Tyler Johnson, and Donatas Motiejunas with lucrative offer sheets, but didn’t ultimately land any of those players.

Brooklyn isn’t the only team that was hoping to steal Porter away from Washington. The Kings presented Porter with a max offer last weekend, though the small forward decided to meet with other teams before signing. Sacramento then went in another direction, using most of its available cap room on Zach Randolph and George Hill.