Transactions Rumors | Hoops Rumors

Pistons Sign Ish Smith To Three-Year Deal

July 1st, 2016 at 7:39am CST by Luke Adams

JULY 8, 1:30pm: The Pistons have officially locked up Smith, the team announced today in a press release.

JULY 1, 7:39am: Smith’s pact is for three years and $18MM, Keith Pompey of The Philadelphia Inquirer relays (via Twitter).

2:44am: The Pistons have reached an agreement on a three-year contract with free agent point guard Ish Smith, reports David Mayo of MLive.com (via Twitter). The financial terms of the deal, which can’t be finalized until next Thursday, aren’t yet known.

Smith, who turns 28 on Tuesday, has led a nomadic existence during his six NBA seasons so far, having played for multiple teams in five of his six seasons. In 2015/16, the Wake Forest alum played in 77 total games, including 50 (all starts) for the Sixers. During his time with Philadelphia last season, Smith averaged 14.7 points and 7.0 assists per contest, easily besting his career averages.

On Thursday, we heard that the 76ers had interest in retaining Smith, but in a backup role. Instead of returning to Philadelphia, however, it appears Smith will be headed to Detroit, where he’ll likely play behind Reggie Jackson at the point.

The Pistons’ backup point guard from this past season, Steve Blake, is eligible for unrestricted free agency, and the team’s agreement with Smith is a strong signal that Blake won’t be back.

Bucks To Extend John Hammond’s Contract

June 30th, 2016 at 4:50pm CST by Eddie Scarito

The Bucks and GM John Hammond have agreed to a one-year contract extension, Adrian Wojnarowski of The Vertical reports (Twitter links). The extension will run through the 2017/18 campaign, notes Wojnarowski. The dollar value of the arrangement is not yet known.

Milwaukee hired Justin Zanik as GM-in-waiting earlier this month and this extension will allow Hammond to work alongside the new executive and smooth the transition, Wojnarowski writes. Hammond will remain with the organization as a consultant after he steps down as GM, the scribe adds. The Bucks recently signed coach Jason Kidd to a three-year, $16.5MM extension of his own.

Hammond has been GM of the Bucks since 2008 and the franchise has gone 273-367 under his watch in the regular season and 5-12 in the postseason. During his tenure he won the 2009/10 Executive of the Year award, which was the only season under Hammond that the team has finished the year over .500.

Wolves Waive Greg Smith

June 30th, 2016 at 4:31pm CST by Eddie Scarito

4:31pm: The Wolves officially announced that they have waived Smith.

4:24pm: The Timberwolves have waived center Greg Smith, Shams Charania of The Vertical reports (via Twitter). Provided he clears waivers, the big man will become an unrestricted free agent as a result of the team parting ways with him.

The 25-year-old signed a multiyear deal with the team in March after his second 10-day pact with the club expired. Smith earned $137,380 for his work after inking the pact and was set to be paid $1,139,123 in 2016/17. The contract called for no guaranteed money, so Minnesota will not be on the hook for any salary by waiving Smith.

In 18 appearances for the Wolves Smith averaged 2.4 points and 2.3 rebounds in 10.7 minutes per outing. His shooting line was .563/.000/.412.

Wayne Ellington Declines Player Option

June 30th, 2016 at 4:15pm CST by Eddie Scarito

Shooting guard Wayne Ellington has elected to decline his player option for next season and will become an unrestricted free agent, Eric Pincus of Basketball Insiders reports (on Twitter). The scribe also confirms that point guard Shane Larkin has opted out of his deal as well. Alex Kennedy of Basketball Insiders first reported that Larkin was opting out of his pact for 2016/17.

Ellington, 28, was set to earn $1,567,500 for his work in 2016/17, but with the increase in the salary cap for next season, should be able to markedly improve on that figure this offseason. He doesn’t project as a starter going forward, but he could help a squad in a reserve role.

The player made 76 appearances for Brooklyn this past season, including 41 starts. Ellington notched averages of 7.7 points, 2.3 rebounds and 1.1 assists in 21.3 minutes per outing. His shooting line on the campaign was .389/.358/.857.

Nets Waive Jarrett Jack

June 30th, 2016 at 3:05pm CST by Luke Adams

Apparently unable to find a suitable trade involving Jarrett Jack, the Nets have requested waivers on the veteran point guard, according to a press release from the team. Adrian Wojnarowski of The Vertical had reported earlier in the week that the Nets would cut Jack before his salary for 2016/17 became guaranteed if they weren’t able to trade him.

Jack had been owed a $6.3MM salary for the coming season, but only $500K of that figure was guaranteed. The rest would have become guaranteed if the 32-year-old had remained on Brooklyn’s roster beyond today.

The Nets will save $5.8MM with the move, and will free up a little extra cap space by stretching Jack’s partially-guaranteed salary out over the next three seasons, per Brian Lewis of The New York Post (Twitter link). Jack will now count against the team’s cap for about $167K per year for the next three seasons, rather than $500K in 2016/17.

Of course, if Jack is claimed off waivers by another team, that club will take on the full amount of the contract, wiping that leftover $500K from Brooklyn’s cap. And given what we know about free agent costs this offseason, it certainly wouldn’t be a surprise to see a team put in a claim on Jack and his relatively affordable one-year contract.

As the Nets’ depth chart at RosterResource.com shows, Jack had been the only real point guard left on the roster in Brooklyn, with Shane Larkin and Donald Sloan eligible for free agency. Needless to say, the Nets will be in the market for point guard help during the next week, as they head into July armed with more than enough room for a max free agent or two.

Latest QO Decisions: Waiters, Motiejunas, Jones

June 30th, 2016 at 11:05am CST by Luke Adams

The Thunder have issued a qualifying offer to Dion Waiters, making him a restricted free agent, according to RealGM.com’s transactions log. While the move doesn’t come as a real surprise, the odds of Waiters returning to Oklahoma City appeared to take a hit when the club acquired Victor Oladipo last week, so it wasn’t a lock that Waiters would get a QO.

There’s little to no chance that Waiters will sign the one-year qualifying offer, worth about $6.778MM, since he should have no problem finding more lucrative multiyear offers on the open market. So from the Thunder’s perspective, there’s probably no harm in extending that QO. Even if OKC ultimately rescinds the offer or declines to match an offer sheet Waiters signs with another suitor, making him a restricted free agent gives the club some extra flexibility for now.

Meanwhile, the Rockets have extended a qualifying offer for one power forward, but not another, according to Jonathan Feigen of The Houston Chronicle, who reports (via Twitter) that Donatas Motiejunas got a QO, but Terrence Jones didn’t.

Houston’s decision means that Motiejunas will remain on the team’s books for now, with a qualifying offer worth $4.434MM, and the Rockets will have the right of first refusal, giving the team the ability to match any offer sheet for Motiejunas. Jones, on the other hand, will become an unrestricted free agent, free to sign anywhere he likes. Although he has struggled with consistency and has battled injuries over the past couple seasons, Jones will likely intrigue teams in the market for a power forward with some shooting range.

For a breakdown of which players eligible for restricted free agency have received qualifying offers, check out our full list of 2016 free agents.

Alonzo Gee Declines Player Option

June 29th, 2016 at 9:30pm CST by Eddie Scarito

Pelicans small forward Alonzo Gee has elected to decline his player option for 2016/17 and will become an unrestricted free agent as a result, Michael Scotto of Sheridan Hoops reports (Twitter link). Gee was set to earn $1,379,400 next season.

The swingman appeared in 73 games this past season for the Pelicans and averaged 4.5 points, 3.4 rebounds and 1.0 assist in 22.4 minutes per outing. His slash line on the campaign was .518/.283/.667.

Gee, who finished the season in street clothes courtesy of a ruptured right quadriceps muscle, enters the open market at a good time given the surge in the salary cap to approximately $94MM. It remains to be seen what teams will be interested in his services given his struggles from beyond the three-point arc. However, the 29-year-old remains a strong defender and could slot in nicely on a contending team’s bench.

Bucks To Waive Johnny O’Bryant, Damien Inglis

June 29th, 2016 at 2:41pm CST by Luke Adams

The Bucks have requested waivers on a pair of forwards, according to Charles F. Gardner of The Milwaukee Journal Sentinel, who reports that the team is parting ways with Johnny O’Bryant and Damien Inglis.

Both O’Bryant and Inglis were selected by Milwaukee early in the second round of the 2014 draft, but neither player developed into a major contributor for the Bucks. Of the two, O’Bryant saw the court more often, averaging 13.0 minutes per game in 66 contests last season. He averaged 3.0 PPG, 2.7 RPG, and 0.5 APG. Ingles, meanwhile, made his NBA debut in 2015/16, appearing in 20 games and playing sparingly in those contests.

Both players had been on the Bucks’ books for minimum salaries worth $980,431 in 2016/17. Those salaries were set to become guaranteed later this week if O’Bryant and Inglis had remained on the roster.

By waiving the duo, Milwaukee opens up a couple extra roster spots, and creates a small amount of cap room (less than $1MM in total). Not including this year’s draftees, Thon Maker and Malcolm Brogdon, the Bucks now have eight players under contract for next season, plus a qualifying offer out to RFA Miles Plumlee.

Fournier, Plumlee, Frazier Receive Qualifying Offers

June 29th, 2016 at 11:55am CST by Luke Adams

If an NBA team intends to turn a player eligible for restricted free agency into a restricted free agent, that team must issue a qualifying offer before the new league year begins on July 1st. Clubs are gradually making those qualifying-offer decisions official, with Evan Fournier among the latest group of players to receive a QO from his team.

The Magic announced today in a press release that they’ve extended a qualifying offer to Fournier. That one-year offer figures to be worth about $4.434MM, a salary the 23-year-old will easily exceed on the open market, either on a new deal with Orlando on an offer sheet from another team. The Magic also confirmed within their press release that they’ve given Dewayne Dedmon a QO, as reported yesterday. The team won’t issue a QO to Andrew Nicholson, making him an unrestricted free agent.

Other players receiving qualifying offers from their respective teams include Miles Plumlee, who got a QO from the Bucks, per Charles F. Gardner of The Milwaukee Journal Sentinel (Twitter link), and Tim Frazier, who received a QO from the Pelicans, according to RealGM’s transactions log. Plumlee’s offer will be worth about $3.113MM, while Frazier’s will be worth a modest $1.18MM.

A restricted free agent who receives a qualifying offer is welcome to sign that QO and return to his current team on a one-year deal. However, many RFAs will sign offer sheets with another suitor or work out a multiyear agreement with their current team. The club issuing the QO has the right of first refusal, meaning that team can match any offer sheet the RFA signs.

Hollis Thompson, Mike Muscala Have Options Exercised

June 29th, 2016 at 9:35am CST by Luke Adams

The 76ers have exercised their team option to bring back Hollis Thompson for another season, according to a team release. Similarly, the Hawks have picked up their own team option on Mike Muscala, per Chris Vivlamore of the Atlanta Journal-Constitution.

Thompson, 25, joined the Sixers for the 2013/14 season, and has appeared in at least 71 games in each of the last three seasons, making a total of 81 starts. Although 2015/16 was Thompson’s least efficient season when it came to shooting percentages and attempts, he did establish new career highs in PPG (9.8), RPG (3.5), and some other categories, as a result of his increased role. The three-point-shooting wing will be on Philadelphia’s books for a minimum salary of $1,015,696 for the ’16/17 campaign.

As for Muscala, his option for next season is worth the same as Thompson’s, $1,015,696. The former Bucknell big man, who will turn 25 this Friday, has appeared in 120 games during his three seasons in Atlanta, never averaging more than 12.6 minutes per game in a season. While he likely won’t be a huge part of the club’s plans going forward, he’s an inexpensive frontcourt depth piece.

Both Thompson and Muscala will now be eligible for unrestricted free agency in 2017, assuming they play out their respective contracts.