Transactions Rumors | Hoops Rumors

Pelicans Sign Langston Galloway

July 21st, 2016 at 11:50am CST by Arthur Hill

Brace Hemmelgarn / USA TODAY Sports Images

JULY 21st: The deal is official, the team announced via press release.

JULY 6th, 10:24pm: The pact will pay Galloway $5MM per season, Adam Zagoria of SNY.tv tweets.

4:35pm: Galloway received a two-year deal from New Orleans, with a player option for the second season, according to Scotto (Twitter link).

3:46pm: Point guard Langston Galloway will sign with the Pelicans, tweets Michael Scotto of Sheridan Hoops. Contract details are still being finalized, according to Ian Begley of ESPN.com (Twitter link).

Galloway became an unrestricted free agent on Monday when the Knicks rescinded their $2.725MM qualifying offer. Galloway became expendable when New York reached a one-year, $5MM deal with free agent guard Brandon Jennings. Begley notes that New York held Early Bird Rights on Galloway and could have offered up to $6.1MM in the first year of a new deal (Twitter link).

The 24-year-old was a regular part of the Knicks’ rotation this season, his second in the NBA. Galloway appeared in all 82 games, averaging 7.6 points, 3.5 rebounds and 2.5 assists in 24.8 minutes while shooting 39.3% from the field and 34.4% from 3-point range.

He will help offset the loss of Eric Gordon, who signed Saturday with the Rockets. Galloway joins Solomon Hill and E’Twaun Moore as free agent acquisitions for New Orleans this offseason.

Nuggets Re-Sign Mike Miller

July 21st, 2016 at 11:14am CST by ChrisCrouse

JULY 21st: The deal is official, the team announced via press release.

JULY 18th: The Nuggets will re-sign Mike Miller to a two-year deal, Marc Stein of ESPN.com reports (Twitter link). Miller will receive more than $5MM over the length of the deal, according to Shams Charania of The Vertical (Twitter link).

Miller played sparingly for the Nuggets last season, seeing 7.9 minutes per game over 47 contests. He shot just 35.5% from behind the arc, down from his career mark of 40.7%.

The Nuggets entered the day with 17 players under contract, as the team’s depth chart at Roster Resource indicates. Juan Hernangomez and Petr Cornelie are included on that list, although both are expected to play overseas next season. Miller will likely make the team and play sparingly again, while serving as a veteran mentor for the franchise’s young talent.

Guerschon Yabusele To Play In China

July 21st, 2016 at 11:13am CST by Will Joseph

Guerschon Yabusele, whom the Celtics drafted 16th overall last month, has agreed to a one-year deal with the Shanghai Sharks of the Chinese Basketball Association, Adam Himmelsbach of The Boston Globe reports. Boston still holds Yabusele’s NBA rights, as Himmelsbach points out.

There have been recent reports suggesting that Yabusele playing overseas was likely, so this news is not entirely surprising. What’s more, the French forward likely needs more seasoning before playing in the league. He is only 20 and he brings versatility and a lot of potential.

At 6’8″ and 240 pounds, Yabusele likely does not lack strength, but there’s been some concern that he’s too short. He has, however, worked to improve his jumper and possesses above-average length and athleticism. He averaged 8.2 points and 6 rebounds in eight summer league games for Boston this year, per Himmelsbach.

Pelicans Ink Solomon Hill To Four-Year Deal

July 21st, 2016 at 11:00am CST by ChrisCrouse

JULY 21st: The deal is official, the team announced via press release.

JULY 1st: The Pelicans have agreed to a deal with Solomon Hill, according to Marc Stein of ESPN.com (Twitter link). The pact will be for $48MM over four seasons, reports Scott Kushner of The Advocate (Twitter links). Kushner adds that the deal will be guaranteed and it will contain incentives. Adrian Wojnarowski of The Vertical tweets that the deal will be for $52MM over four seasons, so perhaps that figure represents his maximum earnings.

Jeff Hanisch / USA Today Sports Images

GM Dell Demps was very high on the combo forward and had been targeting him since the beginning of free agency, Kushner adds. Sources tell Kushner that the team feels Hill is a high-IQ, team player and a good passer, comparing the forward to DeMarre Carroll (Twitter link). New Orleans wants Hill to be the team’s new “two-way” small forward, Stein tweets.

Hill was set to make roughly $2.3MM next season for the Pacers, but Indiana decided not to exercise its team option for the final year of his rookie deal. Hill had an up-and-down career for the Pacers before breaking out in the playoffs this past year.

Pelicans, E’Twaun Moore Agree To Deal

July 21st, 2016 at 11:00am CST by Luke Adams

JULY 21st: The deal is official, the team announced via press release.

JULY 1st: The Pelicans have reached an agreement with free agent guard E’Twaun Moore, reports Scott Kushner of The Advocate (Twitter link). According to Kushner, Moore will sign a four-year, $34MM deal with New Orleans when the July moratorium ends. The deal won’t include any option years, Kushner adds (via Twitter).

In recent days, the Pelicans have been linked to several guards and wings, including Evan Turner, Jeremy Lin, and Tyler Johnson, among others. The team has now added a player at both positions — after reaching an agreement with forward Solomon Hill earlier today, they’ve now struck a deal with Moore, a combo guard.

Moore, 27, started a career-high 22 games for the Bulls, and was solid in that role, averaging 12.0 points, 3.0 rebounds, and 3.0 assists in his starts, while shooting 46.2% on three-pointers. He’ll probably be a bench option in New Orleans, but the Pelicans front office is high on Moore, who met with GM Dell Demps today, per Kushner (Twitter link).

The Wolves were among the other teams to reach out to Moore today, though the Bulls had been viewed as the favorites to retain him until the Pelicans swooped in with a four-year offer.

Photo courtesy of USA Today Sports Images.

Pacers Sign Aaron Brooks

July 21st, 2016 at 9:43am CST by Luke Adams

JULY 21ST: The deal is official, the team announced via Twitter.

JULY 18TH: More than a week after reporting that the Pacers and Aaron Brooks were in “advanced discussions” on a one-year contract, Shams Charania of The Vertical tweets that the two sides have reached an agreement. According to Charania, it’ll be a one-year, $2.5MM deal for Brooks in Indiana.

A well-traveled NBA veteran, Brooks will be joining his sixth team, having already spent time with the Rockets, Suns, Kings, Nuggets, and Bulls. Most recently, the 31-year-old played 69 games for Chicago last season, averaging 7.1 PPG and 2.6 APG in a backup role.

In Indiana, Brooks will be a part of a revamped point guard depth chart, with Jeff Teague expected to be the starter. The Pacers acquired Teague in a three-way trade earlier this month that sent George Hill to the Jazz, and they don’t appear anxious to re-sign last season’s backup, Ty Lawson.

Despite an active offseason that has seen the club acquire Thaddeus Young and sign Al Jefferson, the Pacers remain under the cap, so they should be able to finalize the signing of Brooks using cap room, rather than any sort of exception.

Photo courtesy of USA Today Sports Images.

Bulls Sign Isaiah Canaan

July 20th, 2016 at 2:00pm CST by Eddie Scarito

JULY 20: The Bulls have formally announced their deal with Canaan. “We are excited to add Isaiah to our group,” GM Gar Forman said in a statement. “We feel his ability to knock down perimeter shots will be an asset to our team.”

JULY 12: The Bulls have reached a contract agreement with free agent Isaiah Canaan, Michael Scotto of Sheridan Hoops relays (via Twitter). It will be a two-year pact worth $2.2MM, Scotto notes, though it is unclear how much, if any, guaranteed money will be included.

Canaan become an unrestricted free agent this offseason after the Sixers declined to tender him a qualifying offer worth $1,215,696. Canaan was just two starts and 34 minutes away from triggering the starter criteria this past season, but as a result of a torn left labrum he failed to log the necessary numbers. The qualifying offer needed to make him a restricted free agent this offseason would have jumped to $2,725,003, had he met the criteria.

The 25-year-old appeared in 77 games this past season, including 39 as a starter, averaging 11.0 points, 2.3 rebounds and 1.8 assists in 25.5 minutes per outing while shooting .360/.363/.833 from the field.

Pelicans, Alonzo Gee Finalizing One-Year Deal

July 20th, 2016 at 1:41pm CST by Luke Adams

Less than a month after opting out of his previous contract with the Pelicans, Alonzo Gee is on the verge of signing a new deal with the team. Shams Charania of The Vertical reports (via Twitter) that Gee and the Pelicans are finalizing a one-year contract, aiming to complete it within the next day or so.

Gee, 29, appeared in 73 games for New Orleans last season, starting 38 of those contests. His numbers were modest, as he averaged just 4.5 PPG and 3.4 RPG. However, he continued to provide value on defense and was efficient when given an opportunity on the offensive end (.518 FG%). Gee’s season ended a little early due to a ruptured right quadriceps muscle.

Last month, Gee was one of several players around the NBA to decline his player option in order to test the open market. The Alabama product would have earned about $1.379MM in 2016/17 if he had exercised his option, which was just a little more than his minimum salary. So unless his new deal is for the minimum, or it’s not fully guaranteed, it was probably the right call for him to opt out.

The Pelicans have yet to finalize the free agent contracts they’ve agreed to so far this month, so it remains to be seen how exactly they’ll manage their cap situation. Even after factoring in the reported terms on deals for Solomon Hill, E’Twaun Moore, and other free agents, the team does appear to have a modest chunk of cap room left over, so we’ll see how much – if any – of that space is used for Gee.

Photo courtesy of USA Today Sports Images.

Rockets Sign Nene To One-Year Deal

July 20th, 2016 at 12:03pm CST by Luke Adams

JULY 20: Two weeks after striking an agreement, the Rockets have issued a press release formally announcing their deal with Nene.

JULY 6: The Rockets have agreed to terms with free agent big man Nene, reports Adrian Wojnarowski of The Vertical. According to Mark Berman of FOX 26 Houston (Twitter link), it will be a one-year deal for Nene. Wojnarowski adds that it will be worth $2.9MM, meaning Houston is probably using the room exception.

Houston has had an active July so far, striking four-year deals with Ryan Anderson and Eric Gordon. With those two agreements, the team added outside shooting and scoring ability, but had yet to land a big man that could help protect the room. Nene should help make up for some of the rebounding and inside defense the Rockets lost when Dwight Howard opted out of his contract and agreed to join the Hawks.

Nene, who will turn 34 in September, has spent his 14-year NBA career so far with the Nuggets and Wizards, having played the last four-plus seasons in Washington. The veteran big man has seen his minutes decline over each of the last couple seasons, from 29.4 in 2013/14 to just 19.2 last year, but he continued to be a solid rotational piece for the Wizards, averaging 9.2 PPG, 4.5 RPG, 0.9 SPG, and a .544 FG%.

Although the Rockets should still have some cap room left, depending on what happens with free agents Donatas Motiejunas and Terrence Jones – and their cap holds – Nene’s reported $2.9MM salary signals that he’ll likely be signed using the $2.898MM room exception that under-the-cap teams receive. That will allow Houston to max out its room under the cap before finalizing Nene’s deal.

Photo courtesy of USA Today Sports Images.

Rockets Sign Second-Rounder Chinanu Onuaku

July 20th, 2016 at 11:22am CST by Luke Adams

The Rockets have finalized a deal with second-round pick Chinanu Onuaku, reaching an agreement on a three-year contract, according to Jonathan Feigen of The Houston Chronicle. Houston used its last chunk of cap room on Onuaku, allowing the team to formalize the signing of Nene using its room exception.

As Bobby Marks of The Vertical tweets, the Rockets had $543,772 of cap room left to spare, and the minimum salary for a rookie is $543,471, meaning the team was able to squeeze in Onuaku with just $301 left over. The team could signed Onuaku to a minimum-salary contract after going over the cap, but such a deal would have been limited to two years. Instead, the former Louisville center receives a fully-guaranteed three-year pact, per Mark Berman of FOX 26 Houston (Twitter link).

“It’s a pretty good deal for the kid,” agent Derrick Powell said, according to Feigen. “He’s 19 years old. He has an upside that fits the contract. I think it was important for us because we wanted Houston to commit to his growth. They’re very committed to him. They like him a lot. He’s worked his buns off. He’s very excited about his future with Houston.”

Onuaku, 19, is still raw, but showed plenty of promise during his sophomore season, averaging 9.9 PPG, 8.5 RPG, and 2.0 BPG for Louisville. Jonathan Givony of DraftExpress.com ranked him as the 38th-best prospect in this year’s draft class, and the Rockets made him the 37th overall pick in last month’s draft.

Now that they’re over the cap, the Rockets will be limited to two-year, minimum-salary deals for the other undrafted rookies they’ve agreed to sign, including Gary Payton II, Kyle Wiltjer, and Isaiah Taylor.