Transactions Rumors | Hoops Rumors

Celtics Rescind Kelly Olynyk’s Qualifying Offer

July 4th, 2017 at 7:30pm CST by Luke Adams

In the wake of their agreement with Gordon Hayward, the Celtics have started making moves to create cap room for Hayward’s maximum salary contract. That means that Boston has pulled Kelly Olynyk‘s qualifying offer, allowing him to become an unrestricted free agent, tweets Adrian Wojnarowski of ESPN.

Olynyk initially received a qualifying offer worth about $4.19MM from the Celtics in June. That offer didn’t lock the two sides into anything, but it made the 26-year-old center a restricted free agent, and created a $7.74MM cap hold on Boston’s cap. The Celtics need to clear that $7.74MM cap hold to help make space for Hayward, opening the door for Olynyk to sign outright with another team.

According to Wojnarowski (via Twitter), there will be a “strong” market for Olynyk, who averaged 9.0 PPG and 4.8 RPG in a part-time role for the Celtics last season. The seven-footer’s ability to make an outside shot (.368 career 3PT%) should appeal to several teams.

The Hawks and Pacers will be on the list of potential suitors for Olynyk, per Sam Amick of USA Today (Twitter link).

Magic Waive Stephen Zimmerman

July 4th, 2017 at 4:36pm CST by Luke Adams

The Magic have parted ways with the 41st overall pick from last year’s draft, according to Josh Robbins of The Orlando Sentinel, who tweets that the team has waived second-year center Stephen Zimmerman.

Zimmerman, 20, saw limited action during his rookie season in Orlando, averaging 1.2 PPG and 1.8 RPG in 19 games (5.7 MPG) for the club. The former UNLV big man had a more extensive role in 21 games for the Erie BayHawks, averaging 13.4 PPG and 8.9 RPG in the G League.

While teams are often inclined to stick with second-round projects for longer than just one year, the Magic are under new management this offseason, having hired Jeff Weltman and John Hammond to replace Rob Hennigan in the front office, so the new group didn’t have any particular attachment to Zimmerman.

Zimmerman’s contract also forced the team to make a decision on him this week — his minimum salary for 2017/18 was set to become fully guaranteed if he wasn’t cut by the end of the July moratorium. The Magic won’t be on the hook for any of that money now that they’ve waived him.

Heat Officially Waive Chris Bosh

July 4th, 2017 at 4:18pm CST by Luke Adams

Chris Bosh‘s salary will officially no longer count against the Heat’s salary cap going forward, with the team announcing today in a press release that Bosh has been waived. The move formally brings an end to Bosh’s seven-year stint with the franchise.

“Chris changed his life and basketball career when he came to Miami,” team president Pat Riley said in a statement. “And he changed our lives for the better, in a way we never would have imagined, when he joined the Miami Heat. We will forever be indebted to CB for how he changed this team and led us to four trips to the NBA Finals and two NBA Championships. He is, without a doubt, one of the greatest players in the history of the franchise.

“The number ‘1’ will never be worn by another player and we can’t wait to someday hang his jersey in the rafters,” Riley continued. “Today, we are both moving on but we wish Chris, Adrienne and their family nothing but the best. They will forever be part of the Miami Heat family.”

As we detailed last month when an independent doctor ruled Bosh’s blood-clot issues to be career-ending, he will no longer count against the Heat’s salary cap due to his medical retirement designation. That clears more than $52MM in total salary from the team’s books for the next two years, including $25.3MM+ in 2017/18. Miami will still have to pay Bosh his remaining salary, though the team figures to recoup a significant chunk of that money through insurance.

It’s possible Bosh will attempt a comeback at some point, though NBA executives are skeptical about the odds of that. If his NBA career is officially over, the 33-year-old will finish with averages of 19.2 PPG and 8.5 RPG over 893 total games with the Raptors and Heat (14 total seasons, including 2016/17). Bosh was named to 11 All-Star teams and won two championships over the course of his career.

Photo courtesy of USA Today Sports Images.

Sixers Sign Furkan Korkmaz To Rookie Contract

July 4th, 2017 at 3:41pm CST by Luke Adams

JULY 4, 3:41pm: The Sixers have officially signed Korkmaz to his rookie contract, the team announced today in a press release.

JUNE 30, 1:25pm: The Sixers aren’t quite ready to confirm an agreement with Korkmaz, with both Keith Pompey of The Philadelphia Inquirer and Jessica Camerato of CSPhilly.com reporting (via Twitter) that the team is still working on the details of his FIBA clearance and buyout. However, both Pompey and Camerato hear that it “very well” may happen.

12:51pm: A cryptic tweet from Furkan Korkmaz‘ agent today appears to signal that the 2016 first-rounder will be coming to Philadelphia for the 2017/18 season. Agent Misko Raznatovic took to Twitter to announce that Sixers fans will have a reason to drink Turkish beer, a reference to his client Korkmaz, who is a Turkish shooting guard. Anadolu Efes, Korkmaz’ current team in Turkey, has since confirmed that he’ll be headed to the NBA, according to David Pick (Twitter link).

Korkmaz had expressed a strong desire to come stateside this year, and head coach Brett Brown indicated after last week’s draft that he expected the 19-year-old to make the leap to the NBA. Korkmaz, who spent the 2016/17 season on loan to Banvit, averaged 10.8 PPG and shot 39.8% on three-pointers in 21 Turkish League games.

Korkmaz’ buyout with Anadolu Efes was believed to be a roadblock in the way of his potential move to the Sixers. That buyout is reportedly worth two million euros, and NBA teams are only allowed to pay up to $675K of an international buyout. For Korkmaz to officially sign with the Sixers, he’ll have to pay off the rest of the buyout himself, likely in installments. Eurohoops reports that the two sides are in negotiations now on that buyout.

Assuming Korkmaz finalizes a deal, he’ll be subject to the 2017/18 rookie scale. As the 26th overall pick last year, Korkmaz would be in line for the same contract as Caleb Swanigan, this year’s No. 26 pick. As I detailed last week, that deal figures to be worth $1,465,920 in 2017/18, and a total of $8,904,867 over four years.

While Korkmaz is poised to sign with the Sixers, one of the team’s 2017 first-rounders, Anzejs Pasecniks, is said to be staying in Spain for the upcoming season.

Gordon Hayward Decision on Hold?

July 4th, 2017 at 2:34pm CST by Arthur Hill

2:34pm: Hayward has changed his mind four times since Saturday, a source tells Tony Jones of The Salt Lake Tribune (Twitter link). Agents are speculating to Sean Deveney of The Sporting News that a sign-and-trade or possibly a separate Celtics deal is holding up a formal announcement (Twitter link).

2:25pm: Boston’s offer is $127.8MM over four years, with a player option likely after the third season, reports A. Sherrod Blakely of CSNNE.

2:05pm: The leak regarding Hayward’s decision may lead to a delay in his announcement, Himmelsbach tweets, with Bartelstein suggesting the situation may not be resolved today. “That was the goal,” he said, “but now we’ve got to kind of regroup here a bit.”

Jazz president Steve Starks has tweeted a statement that reads, “We trust Gordon and his agent that no decision has been made. Good communication all day and a great relationship.”

1:50pm: The Celtics haven’t heard from Hayward yet, but they aren’t denying the report from ESPN, tweets Mark Murphy of The Boston Herald. Sources are telling Adam Himmelsbach of The Boston Globe that the move is a formality and the teams just need to be notified (Twitter link).

1:40pm: Conflicting information is beginning to filter out concerning Gordon Hayward. David Aldridge of TNT claims Hayward has not reached a decision and is still weighing his options (Twitter link). Hayward’s agent, Mark Bartelstein, says the same thing to Adrian Wojnarowski of ESPN.com. “Gordon hasn’t made a decision yet,” Bartelstein said. “We are still working through it.” (Twitter link).

1:19pm: Gordon Hayward will announce today that he’s signing with the Celtics, tweets Chris Haynes of ESPN.com.

The All-Star forward, who spent his first seven NBA seasons in Utah, was considered the top prize left on the free agent market. The Celtics, Jazz and Heat all held meetings with him over the past three days. The move will reunite him with Brad Stevens, his college coach at Butler.

Boston’s belief that it had a shot at Hayward affected its decision to be conservative in its pursuit of Jimmy Butler and Paul George, according to Eric Pincus of Basketball Insiders (Twitter link).

With about $27MM in cap space, the Celtics don’t have quite enough cap room to sign Hayward to a full max deal. Hayward could agree to accept a little bit less, or the Celtics could try to move some salary before the moratorium ends on Thursday. One path, Blakely tweets, is to pull their qualifying offer for Kelly Olynyk, renounce all their free agents, waive Jordan Mickey and Demetrius Jackson and trade away one other contract.

Hayward, 27, is coming off his best season, setting careers highs with 21.9 points and 5.4 rebounds per game. He gives the Celtics another dangerous shooter who can stretch defenses and share the scoring load with Isaiah Thomas.

Top Pick Markelle Fultz May Sign Today

July 4th, 2017 at 1:16pm CST by Arthur Hill

Markelle Fultz, the first player selected in last month’s draft, could sign with the Sixers today, according to Keith Pompey of The Philadelphia Inquirer.

However, the signing may be delayed if Fultz’s mother, Ebony Fultz, is unable to attend. She is expected to be in Las Vegas this weekend to watch her son in the Las Vegas Summer League, but Philadelphia’s team is currently playing in the Utah Summer League in Salt Lake City.

As the top pick, Fultz is slotted to make $5.8MM as a rookie, but Pompey notes that the Sixers are permitted to pay him up to 20% more than that and are expected to reach the full figure. Pompey points out that teams sometimes require players to perform community service or play an extra year in the summer league to receive their 20 percent.

As our rookie-scale contract chart shows, Fultz is eligible for a little more than $7MM in his first season and more than $37.4MM over four years. Like all contracts for first-rounders, Fultz’s deal will include two guaranteed seasons and two team options. He will be eligible for an extension in 2020.

A 6’4″ point guard, Fultz averaged 23.2 points, 5.9 assists and 5.7 rebounds during his lone season at Washington.

Josh Jackson Signs Rookie Contract With Suns

July 4th, 2017 at 10:53am CST by Arthur Hill

The Suns have signed first-round pick Josh Jackson, according to the Associated Press. As with all rookie deals for first-rounders, Jackson received two guaranteed years with team options for the following two seasons.

As the fourth overall selection, Jackson will make a little more than $5.09MM in his first season. The full deal would give him more than $27.12MM, assuming he stays with the Suns for four years, as our rookie-scale chart shows. Jackson will become eligible for an extension in 2020 or could be a restricted free agent in 2021.

A 6’8″ forward out of Kansas, Jackson averaged 16.3 points, 7.4 rebounds and 3.0 assists in his only season as a Jayhawk. Scouts raved about his versatility, athleticism and defensive prowess heading into the draft.

Fans can get their first look at him in a Phoenix uniform starting this weekend as part of the Suns’ summer league team in Las Vegas.

Pacers Sign Darren Collison

July 3rd, 2017 at 7:07pm CST by Dana Gauruder

JULY 7: The Pacers have formally announced the signing of Collison.

“Having had Darren here in the past, we obviously knew what we were getting, both on the floor and in the locker room,” Pacers president Kevin Pritchard said in a statement. “When you bring in a player like Darren, you know you’re not only getting a point guard, you’re adding a veteran presence to your team.”

JULY 3: Point guard Darren Collison has agreed in principle on a two-year, $20MM contract with the Pacers, Adrian Wojnarowski of ESPN tweets. Collison averaged 13.2 PPG and 4.6 APG in 68 games, including 63 starts, with the Kings last season.

The second year is partially guaranteed, Sam Amick of USA Today tweets. The agreement leaves the Pacers with approximately $13MM in cap space, Zach Lowe of ESPN tweets.

This is Collison’s second stint with Indiana. He was their starting point guard during the 2010/11 and 2011/12 seasons.

Indiana had a big hole to fill at that spot after Jeff Teague reached a three-year, $57MM agreement with the Timberwolves. They also have combo guards Monta Ellis and Victor Oladipo, who will be coming over from the Thunder in the Paul George deal.

The Knicks reached out to Collison but their interest was apparently lukewarm at best.

Collison served an eight-game suspension at the start of last season after a domestic battery incident. He has appeared in 563 career games, averaging 12.7 PPG and 4.8 APG while shooting 38% from long range.

The addition of Collison appears to be a stopgap move for a rebuilding Pacers club in the aftermath of trading their best player.

Photo courtesy of USA Today Sports Images.

Motley Signs Two-Way Contract With Mavs

July 3rd, 2017 at 6:48pm CST by Dana Gauruder

The Mavericks signed forward Johnathan Motley to a two-way contract on Monday, the team announced in a press release. The news was relayed by Mavs.com beat writer Earl K. Sneed.

The 6’10” Motley went undrafted last month after the Baylor big man declared for the draft after his junior season. He averaged 17.3 PPG, 9.9 RPG, 2.3 APG and 1.1 BPG in his final college season. He’s played two games in the Orlando Summer League with the Mavs, averaging 3.5 PPG, 3.0 RPG and 1.0 BPG.

The agreement was reached last month but the signing is now official. Motley was projected as a second-round pick but teams were reluctant to take him because of a knee issue.

Teams are allowed to sign two players under two-way contracts. Those players will spend most of next season in the NBA G League and not more than 45 days with their NBA team. Two-way players are paid a corresponding daily amount based on the number of days they play in each league.

Lakers Sign Lonzo Ball, Kyle Kuzma, Josh Hart

July 3rd, 2017 at 3:14pm CST by Luke Adams

3:14pm: The Lakers have officially signed Ball and have also announced the signings of their other two first-round picks, Kyle Kuzma (No. 27) and Josh Hart (No. 30). Kuzma’s four-year deal will be worth about $8.65MM, while Hart’s will be worth approximately $8.475MM.

9:40am: The Lakers will formally sign second overall pick Lonzo Ball to his first NBA contract today, reports Shams Charania of The Vertical (Twitter link). Like other rookie deals for first-round picks, Ball’s pact will feature two guaranteed years followed by two team options.

As our chart for this year’s rookie scale shows, Ball is in line to make about $6.287MM in his rookie season. Assuming he plays out his full four-year deal, he’ll earn more than $33MM over the life of the contract. The UCLA product will be eligible for an extension in 2020, and would otherwise reach restricted free agency in 2021.

In past years, teams have been patient when it comes to signing first-round picks, since cap holds for those draftees counted for 100% of their rookie scale figure, despite the fact that virtually every player signed for 120% of the rookie scale. The league’s new CBA adjusted those cap holds to count for 120% of the rookie scale figure, so there’s now little incentive for teams to wait.

Jayson Tatum (Celtics), Jonathan Isaac (Magic), Malik Monk (Hornets), Luke Kennard (Pistons), and Bam Adebayo (Heat) are among the other first-rounders who have already officially signed contracts with their new teams.