Grizzlies Re-Sign Kalin Lucas
The Grizzlies have signed point guard Kalin Lucas, the team announced. The move is intended to fortify the team’s depth as Mike Conley nurses a tender ankle, according to Ronald Tillery of The Commercial Appeal, who originally reported the deal (Twitter link). Memphis has been carrying only 14 players, as our roster counts show, so the team has room to accommodate Lucas without letting anyone go. Lucas was with the Grizzlies during the summer league and in preseason before Memphis cut him a few days shy of opening night, as Tillery points out. Terms of the deal aren’t immediately clear, and while GM Chris Wallace has slightly more than the rookie minimum salary left on the team’s mid-level exception to float Lucas extra cash, make the deal a long-term arrangement, or both, it seems unlikely he would do so.
The 25-year-old Lucas went undrafted out of Michigan State in 2011, but he’s clearly made a strong impression on the Grizzlies in his time with the club. He played in all eight of the team’s preseason games, averaging 3.1 points and 1.0 assists in 8.0 minutes per contest. He put up 17.0 PPG and 3.4 APG in 33.4 MPG in his senior year with the Spartans in 2010/11 before spending time in Turkey, Greece and the D-League over the first three years of his pro career.
Memphis already had three point guards on its roster before adding Lucas, but Nick Calathes still has nine games to go on his 20-game drug-related suspension, which left Beno Udrih as the only available point guard if Conley had been unable to play. The Grizzlies haven’t felt any ill effects so far, having sprinted to a 4-0 start.
Cavs Waive A.J. Price, Sign Will Cherry
SUNDAY, 12:20pm: The Cavs have officially signed Cherry, the team announced.
4:54pm: Cherry’s deal will be for two years, Chris Haynes of The Plain Dealer reports (Twitter link), though it’s still unknown if any portion of his salary will be guaranteed.
SATURDAY, 4:28pm: The Cavaliers have waived A.J. Price, the team has announced. Price’s salary was non-guaranteed, so the move won’t cost Cleveland any cash. This reduces the Cavs’ roster count to 14, one player below the regular season maximum. Cleveland intends to use the open roster spot to sign guard Will Cherry, Marc J. Spears of Yahoo! Sports is reporting (Twitter link). No contract details were made available, but Cleveland is limited to offering Cherry no more than the minimum salary.
The big shocker here is that the team isn’t signing Ray Allen, who would seem like a perfect fit for a Cavs squad looking to contend in the Eastern Conference. Allen still hasn’t decided on whether or not he is going to play this season, though he has been mentioned as a target for the Spurs as well as the Cavs.
The 6’1″, 23-year-old Cherry averaged 12.8 PPG and 4.0 RPG while logging 25.3 minutes per contest in five games for the Cavs Summer League team in Las Vegas. Cherry also played for the Cavs’ D-League affiliate last season, when he provided 11.6 PPG, 3.7 RPG, and 4.5 APG in 30.4 MPG. He was waived by the Raptors at the end of training camp last month.
Price hasn’t appeared in either of Cleveland’s regular season games this season. His career numbers are 5.9 PPG, 1.5 RPG, and 2.2 APG. His slash line is .381/.321/.749.
Nuggets To Pick Up Mozgov’s Team Option
The Nuggets are expected to pick up their team option on Timofey Mozgov‘s contract for the 2015/16 season, Christopher Dempsey of the Denver Post reports. The option will pay him nearly $5MM, which is the final year of his current deal. With Mozgov’s contract on the books Denver will have approximately $61.2MM in guaranteed salary commitments for the 2015/16 season. This figure does not include Arron Afflalo‘s player option, which is worth $7.5MM. With Denver picking up Mozgov’s option, he will now become an unrestricted free agent in the summer of 2016.
The Nuggets’ decision to pick up Mozgov’s option isn’t necessarily a sign that they won’t trade him. Denver has shown willingness to trade players right after they have signed with the team, as is evidenced by their 2012 trade that sent Nene to the Wizards the same season that the Nuggets re-signed him. The Nuggets also have JaVale McGee, who is set to be paid $12MM in 2015/16, and 2014 draftee Jusuf Nurkic on the roster at center, making Mozgov potentially expendable.
The Cavs were one of the teams with interest in acquiring Mozgov either this season by trade or next through free agency. Cleveland coach David Blatt is familiar with Mozgov, having coached the player on the Russian National team. And with Mozgov off to a good start to the season averaging 11.5 PPG in just 21.5 MPG in his first two starts for the Nuggets, his trade value is upped accordingly. Mozgov’s career numbers over 214 games are 6.1 PPG, 4.4 RPG, and 0.9 BPG. His career slash line is .515/.143/.739.
Wolves Sign Ricky Rubio To Extension
The Timberwolves have officially signed Ricky Rubio to a contract extension, the team announced (on Twitter). Adrian Wojnarowski of Yahoo! Sports first reported the four-year, $55MM deal, which includes $1MM in incentives, as Jerry Zgoda of The Star Tribune adds (Twitter link). There are no team or player options in the arrangement, according to Jon Krawczynski of The Associated Press (Twitter link).
“We are excited to sign Ricky to a contract extension and keep him as a foundation for years to come,” Timberwolves president of basketball operations/coach Flip Saunders said in the team’s statement. “He is annually among the league leaders in assists and steals, and his intangibles make him a very valuable player to our team. Ricky is only in his fourth season and because of his work ethic and determination, we are confident that he will continue to grow as a player and as a team leader. We look forward to many great years ahead of Ricky in a Timberwolves uniform.”
Agent Dan Fegan had reportedly been seeking the maximum salary for his client, which likely would have been at least $85MM over five years, so the Wolves achieved some level of success in negotiating Rubio’s camp down from that amount. The Wolves had initially talked about four years and $44MM, and upped the offer to $48MM, then to $52MM and beyond for the 24-year-old.
Rubio’s extension matches the average annual salary that fellow point guard Eric Bledsoe netted in his new five-year contract with the Suns, at least with Rubio’s $1MM in incentives factored in, notes Marc Stein of ESPN.com (Twitter link). The dollar figure represents the sort of high-leverage negotiations that had been taking place for a franchise that lost Kevin Love via trade this summer, as Charlie Adams of Hoops Rumors examined when he looked at Rubio’s extension candidacy. The Wolves ultimately saw the prospect of increased revenues from the league’s recent $24 billion TV deal as motivation to come up in their offers, tweets Jon Krawczynski of The Associated Press, who adds that the team wanted to show faith in the former No. 5 overall pick.
The deal gives Minnesota approximately $50.2MM in guaranteed salary commitments for the 2015/16 season, though that figure doesn’t account for Thaddeus Young‘s $9,971,739, Chase Budinger‘s $5MM, or Corey Brewer‘s $4,905,000 player options.
In his three years in the league, Rubio has averaged 10.2 PPG, 4.1 RPG, and 8.1 APG. His slash line is .369/.323/.799.
Photo courtesy of USA Today Sports Images. Chuck Myron contributed to this post.
Warriors Sign Thompson To Max Extension
The Warriors have agreed to an extension with Klay Thompson, the team has announced. Marc Stein of ESPN.com (Twitter link) was the first to report the agreement. The 
deal is a four-year max extension, and it contains no options, tweets Sam Amick of USA Today. The estimated value is in the $70MM range, but the exact figure won’t be known until the league sets the new maximum salary amount in July.
The two sides beat tonight’s deadline to ink a deal while fielding trade offers from the Kings, who reportedly offered anyone on their roster aside from DeMarcus Cousins and Rudy Gay, Marc Spears of Yahoo! Sports notes. There were also concerns that Golden State owner Joe Lacob wouldn’t be comfortable shelling out the max for a player, especially when comparing it to the team-friendly deal that Stephen Curry is signed to. According to a report from Monte Poole of CSNBayArea.com earlier this month, the Warriors were offering Thompson annual salaries of about $13MM in its proposals, though the sides had been getting closer in recent weeks.
Thompson had expressed a preference for the security of an extension rather than a one-year deal next summer that would allow him to hit unrestricted free agency when the league’s new $24 billion TV deal kicks in and player salaries are expected to increase markedly. He is a potential two-way superstar, and in 230 career games he has averages of 16.1 PPG, 3.1 RPG, and 2.2 APG. His career slash line is .435/.409/.828.
The Warriors had approximately $62MM in guaranteed salary committed for the 2015/16 season before coming to terms with Thompson, and that doesn’t account for Brandon Rush‘s $1,270,964 player option, or any money needed to re-sign Draymond Green. By adding Thompson’s max-level salary to the equation the team might seek to unload David Lee, who is set to make $15,012,000 this season, and $15,493,680 in 2015/16. If the Warriors wait until next summer they could try to flip Lee’s expiring contract for some cap relief, though that is purely my speculation.
Photo courtesy of USA Today Sports Images.
Cavs Sign Anderson Varejao To Extension
The Cavaliers and Anderson Varejao have officially signed a contract extension, the team announced. The extension is believed to be for three years, and approximately $30MM, as Marc Stein of ESPN.com reported Thursday (Twitter link). Chris Haynes of the Northeast Ohio Media Group added that the plan was for the sides to sign the extension today, though the October 31st deadline that applies for rookie-scale extensions didn’t matter with Varejao. The 32-year-old becomes just the fifth player to sign a veteran extension under the current collective bargaining agreement, joining Andrew Bogut, Kobe Bryant, Tony Parker and Zach Randolph.
“Anderson represents how this franchise wants to approach the game of basketball, both on the court and off,” Cavs GM David Griffin said in the team’s statement. “He has been a key part of our foundation for years and we are very happy that he will continue to be part of our Cavs family as we work towards our goals at the highest level. Andy is, and has been, a tireless worker, an incredible teammate and a great competitor that plays with a rare combination of energy and intensity that makes him truly special.”
This news doesn’t come as a surprise since it was reported earlier that both sides had a mutual interest in keeping Varejao in Cleveland for the foreseeable future. The Brazilian-born center said recently that he wants to finish his career with the Cavs, and he has a close relationship with LeBron James, with whom he’d been teammates for six years before James took his talents to South Beach.
Varejao nonetheless had some incentive to wait until he became a free agent to sign a new deal with the Cavs. The starting salary in a veteran extension can be no more than 107.5% of the salary in the final season of the existing deal, and in Varejao’s case the extension could only have run through the 2017/18 season. If Varejao were to have waited to become a free agent, he could sign up to a five-year contract for nearly 35% of the salary cap, though he wasn’t a candidate for max money, nor a deal of that length. With his history of injuries and advancing age, signing an extension to stay in Cleveland and gaining some level of financial security was clearly appealing for Varejao, and it comes with the benefit of allowing him to continue to play for a team that’s shaping up to be an annual title contender.
This news also casts some doubt as to the future of Tristan Thompson in wine-and-gold. A report earlier today indicated that there was pessimism surrounding Cleveland’s extension talks with Thompson, who is subject to today’s 11:00pm Central deadline for rookie scale extensions. Thompson is seeking a new deal in the $12MM per year range, which is a bit pricey for a backup center.
The Cavs had only about $21.5MM in commitments for 2015/16 before signing the Varejao deal, but that doesn’t include James’ player option for $21,573,398 or Kevin Love‘s for $16,744,218. Varejao’s extension doesn’t leave the Cavs front office much flexibility to ink Thompson and continue to surround the core of James, Love, and Kyrie Irving with the role players needed to contend.
Photo courtesy of USA Today Sports Images.
Jazz Sign Alec Burks To Extension
3:22pm: The deal is official, the team announced via press release.
“We have great regard for Alec’s work ethic and dynamic athletic ability as well as his growth potential,” Jazz GM Dennis Lindsey said. “Alec is a young player with a unique skillset and true passion for basketball who consistently finds the gym and has displayed the characteristics and desire to continue to improve his game. He is a high-character individual who, throughout his time with the Jazz, has expressed his love for Salt Lake City and Jazz fans, so we are thrilled to know that he will be a core piece of our future as we continue to grow.”
12:42pm: There is no team or player option in the deal, according to Jody Genessy of the Deseret News (Twitter links). Genessy indicates the extension has been finalized, though the Jazz have yet to make any formal announcement.
10:50am: Alec Burks and the Jazz have agreed to a four-year, $42MM extension, reports Adrian Wojnarowski of Yahoo! Sports. The arrangement includes “reachable” incentives that could push the value to $45MM, Wojnarowski writes, but it’s unclear if those incentives will be deemed likely ones that will count in initial cap calculations. Enes Kanter‘s agent said earlier this week that he, his client and the Jazz had made a mutual decision to call off talks on an extension for the Swiss-born center, but Utah had continued talks with Burks and agent Andy Miller in advance of tonight’s 11:00pm Central deadline. The deal for Burks must become official before that time.
GM Dennis Lindsey indicated a desire about a month ago to keep both Burks and Kanter long-term, whether via extension or in restricted free agency next summer. Today’s deal assures the team of keeping at least one of its 2011 lottery picks. Burks, the 12th overall selection that year, becomes the team’s second swingman on a lucrative long-term deal, joining Gordon Hayward, who signed a four-year max offer sheet with the Hornets this past summer that the Jazz matched.
Burks saw an increased role for the Jazz last year, averaging 28.1 minutes per game, but he still made only 12 starts. He was nonetheless more efficient in his playing time than he had been in the past and continued playing effective defense, as I outlined when I examined the 23-year-old’s extension candidacy. Still, I figured the Jazz would only hand out an extension that wasn’t worth much more than the four-year, $14MM deal that the Grizzlies gave Quincy Pondexter last fall, given Utah’s depth at the wing and guard positions.
It’s unclear whether the salaries for Burks will be evenly distributed across the four years, but adding the deal’s average annual value of $10.5MM gives the team roughly $51MM in commitments for 2015/16, the first season the extension will take effect. That doesn’t account for any new deal with Kanter or most of Trevor Booker‘s $4.775MM salary, which is partially guaranteed for only $250K.
Photo courtesy of USA Today Sports Images.
Bucks, Brandon Knight Call Off Extension Talks
The Bucks and Brandon Knight have ended negotiations about an extension, setting up the fourth-year point guard for restricted free agency in the summer, sources tell Adrian Wojnarowski of Yahoo! Sports (Twitter link). An extension had reportedly been unlikely even though the team and agent Arn Tellem planned to keep talking until the deadline. They took discussions close to tonight’s 11:00pm Central cutoff, but it appears there’ll be no deal.
Milwaukee’s brass appeared enthusiastic early this month about reaching an agreement as the sides opened talks, and coach Jason Kidd spoke of his desire to keep the player taken eighth overall in the 2011 draft. Knight nonetheless had seemed an odd candidate for an extension based on his inability to establish himself as a front-line point guard during his first three seasons in the league. He scored 17.9 points per game last season, but they came for a Bucks team that finished with the league’s worst record.
I suggested that Tellem would attempt to capitalize on Milwaukee’s desire to reach an extension with proposals involving eight-figure salaries, though it’s unclear just what sort of numbers were on the table from either side. The Bucks made an unusual commitment this week to Knight’s backup, Kendall Marshall, when they guaranteed what had been a non-guaranteed contract for the former 13th overall pick. Perhaps that’s a sign that Milwaukee decided at some point that it prefers to evaluate his performance against Knight’s, with both poised to hit free agency in the summer, though that’s just my speculation.
Knicks To Decline Option On Shane Larkin
The Knicks have decided to pass on their 2015/16 rookie scale team option with Shane Larkin, tweets Marc Berman of the New York Post. Berman suggests this was New York’s plan all along, though previous reports had indicated that New York was picking up the option before the team had an apparent change of heart. Larkin’s option was worth more than $1.675MM for that season, as our Rookie Scale Team Option Tracker shows. The Knicks picked up a nearly $1.305MM team option for 2015/16 on Tim Hardaway Jr. and waived trade acquisition Arnett Moultrie, who also had a pending rookie scale team option.
Declining Larkin’s option will set the point guard up for unrestricted free agency next summer, a year after the Knicks acquired him from the Mavs in the Tyson Chandler trade. The 18th overall pick in the 2013 draft played sparingly as a rookie, averaging 10.2 minutes per game across 48 appearances, though he’s started the first two games of the year for the Knicks, who are without Jose Calderon because of injury.
The primary motivation for turning down the option appears to be New York’s desire to preserve cap flexibility for next summer. That also appears to be behind the apparent unlikelihood that the team will reach an extension with Iman Shumpert before tonight’s deadline to do so. The Knicks have about $32.7MM tied up for 2015/16, plenty of room beneath a projected $66.5MM salary cap.
Sixers Pick Up Options On Three Players
FRIDAY, 9:57pm: The moves are official, the team announced via press release. Sixers spokesperson Michael Preston confirms the news via Twitter.
THURSDAY, 7:37pm: The Sixers have picked up the third-year team options for Nerlens Noel and Michael Carter-Williams, as well as the fourth-year team option for Tony Wroten, as is shown in the RealGM transactions log. These moves give Philadelphia approximately $13,508,212 in guaranteed salary commitments for the 2015/16 season.
None of these moves come as a surprise since all three players factor heavily into the Sixers’ long term rebuilding plans. The 2015/16 salaries for the three players will be $3,457,800 for Noel; $2,399,040 for Carter-Williams; and $2,179,354 for Wroten.
Carter-Williams won the Rookie of the Year award last season after being selected with the No. 11 overall pick in the draft. He averaged 16.7 PPG, 6.2 RPG, and 6.3 APG. His slash line was .405/.264/.703. There were rumors during the offseason that the team was shopping Carter-Williams, but no deal materialized and he remains the team’s starting point guard. For him to take the next step in his development, Carter-Williams desperately needs to cut down on his 3.5 turnovers per game of a season ago.
The 20-year-old Noel begins his rookie campaign after an injury suffered during his lone year at Kentucky kept him out for the entire 2013/14 season. Extremely athletic and a gifted defender, Noel will need to develop his offensive game if he hopes to fulfill his immense potential.
Originally drafted by the Grizzlies, Wroten is being counted on this season to provide a large portion of Philadelphia’s scoring. In 108 career games, including 17 starts, he has averaged 9.7 PPG, 2.4 RPG, and 2.5 APG. His career shooting percentages are .423/.216/.642.