Transactions Rumors | Hoops Rumors

Knicks Sign Willy Hernangomez

July 5th, 2016 at 3:45pm CST by Luke Adams

FRIDAY, 11:07am: The Knicks have formally announced Hernangomez’s signing, making it official (Twitter link).

TUESDAY, 3:45pm: According to Frank Isola of The New York Daily News (via Twitter), Hernangomez’s deal will be for at least three years, which means the Knicks are using cap space to complete it.

3:00pm: After spending the first few days of July securing NBA free agents, the Knicks have shifted their focus to overseas players today. Having agreed to terms with Lithuanian forward Mindaugas Kuzminskas earlier this afternoon, New York has also struck a multiyear deal with a 2015 draftee, Spanish center Willy Hernangomez, per Adrian Wojnarowski of The Vertical (Twitter link). The contract will be fully guaranteed, tweets Ian Begley of ESPN.com.

Hernangomez, the 35th overall pick in last year’s draft, didn’t see much action during Euroleague play for Real Madrid this past season, posting averages of 4.3 PPG and 3.4 RPG in 10.6 minutes per Euroleague contest (10.6 games). However, the 22-year-old did shoot an impressive 64.3% from the field in his limited action.

There have been multiple reports indicating throughout the spring and summer that Hernangomez planned on joining the Knicks this offseason. A May report suggested that the 6’11” center had rejected two offers from Real Madrid, and that it would take a significant shift in momentum for him not to wind up with New York next season.

That same report in May indicated that a four-year offer would be on the way for Hernangomez, but it remains to be seen whether or not that will be the case. Contracts signed using the minimum-salary exception can’t be longer than two years, but if the Knicks use cap room to sign Hernangomez to a minimum-salary deal, which they should be able to do, it could be for up to four years.

Mavs To Re-Sign Dirk Nowitzki

July 5th, 2016 at 8:25am CST by Luke Adams

After missing out on some of their top free agent targets early in July, the Mavericks have been active over the last couple days filling out their roster, and now the team is set to lock up its franchise player to a new contract. According to ESPN’s Marc Stein, the Mavs have reached an agreement on the framework for a two-year, $40MM deal for Dirk Nowitzki. The second year of the deal will likely be a player option, per Stein.

For Nowitzki, the new deal will represent a significant increase in salary on his last contract, which was worth $25MM over three years. The longtime Maverick opted out of the final year of that deal last month, choosing instead to work out a new, multiyear contract with Dallas. Although there were rumblings that the Warriors – and perhaps other teams – intended to reach out to Nowitzki, the Mavs were always the strong favorites to re-sign him.

Because Nowitzki was on such a modest contract, his cap hold this summer is only worth about $12.5MM. The Mavericks will have to keep that figure on their books as they absorb trade acquisition Andrew Bogut and finalize contracts for other free agent signees. However, once they use up their cap room, the Mavs will be able to go over the cap to finalize Nowitzki’s deal, which will have a salary closer to $20MM in 2016/17.

Although they missed out on top free agent targets like Mike Conley and Hassan Whiteside, the Mavericks have recovered reasonably well, agreeing to acquire Bogut from the Warriors for essentially nothing, and landing Harrison Barnes and Seth Curry in free agency. The team also reached agreements to bring back a pair of its own free agents, Deron Williams and Dwight Powell.

Nowitzki turned 38 in June, but has continued to be extremely productive for the Mavericks, even as the team has slipped from title contention in recent years. In 2015/16, the German big man averaged 18.3 PPG, 6.5 RPG, and 1.7 3PG. Nowitzki’s field-goal percentage did slip to .448, his worst mark since his rookie season, but he shot a respectable 36.8% on three-pointers and continued to handle a significant offensive load for the franchise.

Photo courtesy of USA Today Sports Images.

Hornets Sign Roy Hibbert To One-Year Deal

July 4th, 2016 at 7:51pm CST by Dana Gauruder

THURSDAY, 11:22am: The Hornets have formally issued a press release to announce the signing of Hibbert.

MONDAY, 7:51pm: The Hornets and free agent center Roy Hibbert have agreed to a one-year, $5MM contract, league sources told Adrian Wojnarowski of The Vertical.

Hibbert averaged 5.9 points, 4.0 rebounds and 1.4 blocks with the Lakers last season. The former All-Star for the Pacers essentially replaces Al Jefferson, who agreed to a three-year deal with Indiana. The Lakers secured their starting center in the early hours of free agency by agreeing to a four-year, $64MM contract with Timofey Mozgov.

The Hornets have also been trying to trade Spencer Hawes and the remaining $11.7MM on his contract to clear salary-cap space, which will likely require them to include a future draft pick, league sources informed Wojnarowski.

Hibbert’s ability to protect the rim was the deciding factor in Charlotte’s decision to offer him a contract, Wojnarowski adds.

Knicks Re-Sign Lance Thomas To Four-Year Deal

July 4th, 2016 at 7:10pm CST by Dana Gauruder

FRIDAY, 2:16pm: The Knicks have officially re-signed Thomas, the team announced today (via Twitter).

MONDAY, 7:10pm: The Knicks have reached a multi-year agreement with their restricted free agent forward Lance Thomas, a league source informed Chris Haynes of Cleveland.com (Twitter link). The contract is a four-year deal starting at around $6.1MM, Ian Begley of ESPN.com tweets. That would make the contract worth approximately $27.3MM.

The 6’8” small forward, who has played five NBA seasons, averaged 8.2 points and 2.2 rebounds in 22.3 minutes last season for New York while appearing in 59 games. He has also played for the Pelicans franchise and Thunder in his NBA career.

Thomas had received interest from the Thunder as well as the Timberwolves, Spurs, Clippers, and Pelicans in the free agent market.

Knicks Rescind Langston Galloway’s Qualifying Offer

July 4th, 2016 at 6:03pm CST by Dana Gauruder

The Knicks have rescinded their qualifying offer to shooting guard Langston Galloway, making him an unrestricted free agent, sources told Ian Begley of ESPN.com. Galloway’s qualifying offer was worth $2.725MM.

The move was likely made to fit Brandon Jennings‘ contract offer into cap space, Begley continues. The former Bucks, Pistons and Magic point guard agreed to a one-year, $5MM deal with New York on Monday. Galloway could still re-sign with the Knicks but rescinding the QO obviously reduces their bargaining power, since they could have matched an offer when he was a restricted free agent.

Galloway appeared in all 82 games in his second season with the Knicks, though he started just seven games. He averaged 7.6 points, 3.5 rebounds and 2.5 assists in 24.8 minutes while shooting 39.3% from the field.

The club has not renounced free agent forward Lance Thomas, so it can use Early Bird rights to sign him to a contract worth a maximum of approximately $6.2MM, Begley adds.

Several teams have shown an interest in signing Galloway, and Thomas also has a number of suitors, including the Thunder, Timberwolves, Nets and Hawks, Begley previously reported.

Magic Rescind Dedmon’s Qualifying Offer

July 4th, 2016 at 5:16pm CST by Dana Gauruder

The Magic will rescind their qualifying offer to Dewayne Dedmon, making the 7-foot center an unrestricted free agent, Josh Robbins of the Orlando Sentinel tweets. Dedmon had gone into the free agent market as a restricted free agent after the Magic made a qualifying offer of $1,215,696.

Dedmon, who will be entering his fourth season in the league, has received some interest from the Warriors, who are seeking a rim protector to round out their roster, according to Alex Kennedy of Basketball Insiders (Twitter link). Removing Dedmon from their roster gives the Magic more wiggle room to sign Raptors free agent center Bismack Biyombo, who committed to Orlando for four years and $72MM.

The pending acquisition of Biyombo, along with the presence of Nikola Vucevic, made Dedmon expendable. Recently-acquired Serge Ibaka can also slide over to the middle, if necessary.

Dedmon appeared in 58 games with the Magic last season, including 20 starts. He averaged 4.4 points and 3.9 rebounds in 17.2 minutes.

Kings Waive Caron Butler, Duje Dukan

July 4th, 2016 at 4:30pm CST by Dana Gauruder

The Kings have waived small forward Caron Butler and power forward Duje Dukan, sources told Shams Charania of The Vertical.

That frees up more roster space, though Butler had already exercised his player option worth $1,551,659 for next season. Deleting Dukan from the roster gives them a little more cap room, since Dukan’s $874,636 contract was not guaranteed.

Butler might have trouble finding a new team if he doesn’t retire, though Adrian Wojnarowski of The Vertical believes the Heat might have some interest. The Kings obviously would have moved his contract if they could have found a taker. The 36-year-old barely saw the floor during the 2015/16 season, playing a total of 176 minutes in 17 games for the Kings. Most of his absences were primarily the result of DNP-CDs.

Dukan signed with the Kings after going undrafted last June. The University of Wisconsin product spent most of the season with the Kings’ D-League affiliate, the Reno Bighorns, before appearing in one April game with Sacramento. Dukan can still play on the Kings’ summer team even though he’s been waived, Jason Jones of the Sacramento Bee notes.

Knicks Sign Brandon Jennings

July 4th, 2016 at 3:28pm CST by Luke Adams

FRIDAY, 1:07pm: The Knicks have officially signed Jennings, the team announced today (via Twitter).

MONDAY, 3:28pm: It’ll be a one-year, $5MM deal for Jennings and the Knicks, according to Goodwill (Twitter link). That could be a nice value pickup for New York if the former 10th overall pick can stay on the court in 2016/17.

3:19pm: Veteran guard Brandon Jennings has become the latest notable free agent to strike a deal with the Knicks, according to Vincent Goodwill of CSN Chicago, who reports (via Twitter) that the two sides have agreed to terms. ESPN’s Marc Stein first reported (via Twitter) that the Knicks were on the verge of reaching an agreement with Jennings.

It has been a busy offseason so far for the Knicks, who kicked things off in June by acquiring Derrick Rose in a five-year player trade with the Bulls. The team has since reached agreements with Joakim Noah and Courtney Lee on four-year deals that will pay them $72MM and $48MM, respectively.

Based on those deals, the Knicks weren’t expected to have a whole lot of money left to go shopping for a backup point guard, so landing Jennings could be a coup for the team, assuming there are no other moving pieces in play. We’ll have to wait for the full terms of the deal to surface before we can evaluate it, but if he’s healthy, Jennings is capable of backing up Rose and scoring points off the bench.

Jennings, 26, has been plagued by injuries over the last two years, having missed about half the season in both 2014/15 and 2015/16. He also saw his minutes and his production take a huge hit last season in both Detroit and Orlando. He averaged just 6.9 PPG for the season, after never having scored less than 15.4 PPG in any of his six previous seasons.

As is the case with Rose and Noah, the Knicks are presumably counting on Jennings to return to health and to look a little more like his old self going forward.

The Knicks figure to have renounce the rights to one or two of the free agents they’d wanted to re-sign in order to make room for Jennings. Derrick Williams, Langston Galloway, and Lance Thomas are candidates to be let go, with Williams likely heading that list.

Photo courtesy of USA Today Sports Images.

Bulls Sign Rajon Rondo

July 4th, 2016 at 1:44pm CST by Arthur Hill

Apr 5, 2016; Sacramento, CA, USA; Sacramento Kings guard Rajon Rondo (9) drives to the basket against the Portland Trail Blazers during the fourth quarter at Sleep Train Arena. The Portland Trail Blazers defeated the Sacramento Kings 115-107. Mandatory Credit: Ed Szczepanski-USA TODAY Sports

Ed Szczepanski / USA TODAY Sports Images

JULY 7, 1:44pm: The Bulls have issued a press release announcing their signing of Rondo.

JULY 3, 7:03pm: Rondo and the Bulls have a “mutual option” on year two of the deal, says Vincent Goodwill of CSN Chicago (Twitter link). That means either side can opt out next offseason, which presumably suggests a player option on a non-guaranteed salary.

6:17pm: The second year of Rondo’s deal is only partially guaranteed, tweets Brian Windhorst of ESPN.com.

5:57pm: Point guard Rajon Rondo has agreed to a two-year, $28MM contract with the Bulls, tweets Marc J. Spears of The Undefeated. The entire contract is guaranteed and neither side has an option, tweets Sam Amick of USA Today, who reports the deal at $30MM over two seasons.

Either way, it’s a significant raise for Rondo, who signed a one-year $9.5MM contract with the Kings last summer. He led the league in assists with 11.7 per game during his single season in Sacramento, while scoring 11.9 points a night.

“I’m excited,” Rondo said. “Great organization with pieces around me that I’m excited about.” (Twitter link).

The move brings the Bulls up to the salary floor, tweets K.C. Johnson of The Chicago Tribune, who says the team offered one- and two-year deals of all of its targets. It also raises the possibility that Jose Calderon, who was acquired in a trade with the Knicks last week, may be waived.

Hornets Sign Ramon Sessions

July 4th, 2016 at 1:36pm CST by Luke Adams

THURSDAY, 11:23am: The Hornets have officially signed Sessions, the team announced today in a press release.

MONDAY, 1:36pm: The Hornets have landed a backup point guard, according to Keith Pompey of The Philadelphia Inquirer, who reports (via Twitter) that the team has agreed to sign Ramon Sessions. The two-year pact will be worth $12.5MM, a league source tells Adrian Wojnarowski of The Vertical (Twitter link). Rick Bonnell of The Charlotte Observer (Twitter link) pegs the exact value at $12.3MM.

Sessions, 30, has bounced around the NBA since entering the league in 2007, playing for six teams over the course of his career. Most recently, the former second-round pick appeared in all 82 games for the Wizards last season, backing up John Wall at point guard. It was a solid year for Sessions, who contributed 9.9 PPG, 2.9 APG, and a.473 FG% during his first full season in Washington.

In Sessions, Charlotte lands a backup at the point for Kemba Walker, and one that will come much cheaper than Jeremy Lin, who agreed to a three-year deal worth $12MM annually with the Nets. Sessions will earn about half that with the Hornets, on a shorter term, and his agreement will still leave Charlotte with a little leftover cap space to go shopping for a big man.

Since free agency opened, the Hornets have also reached deals to bring back Nicolas Batum and Marvin Williams.

Photo courtesy of USA Today Sports Images.