I guess it's that time of year already! I typically make this post after the NBA draft, but now that deals started pouring in over the weekend, I'm starting now and will just add draft day moves in here.
This will be constantly updated throughout the summer, so I'll be adding the latest news at the top to be readily available upon revisiting the page instead of always having to scroll down. Or in other words, it goes in chronological order from the bottom up.
As usual, players already under contract have their figures listed based on Keith Smith's work at Spotrac.com while salaries in bold italics are my own estimates based on reported numbers and the standard 5% or 8% raises that the teams could give. Salaries are also color coded if they are a player option, a team option, not fully guaranteed, or a "mutual option" (a player option that's not fully guaranteed) based on the reporting, with parentheses to credit whoever broke the news and when.
6/30 update: The NBA officially announced that the salary cap for this season is $164,961,000, which is slightly lower than the $165 million that was projected. The luxury tax line, First Apron, and Second Apron are subsequently $200,428,000, $209,015,000, and $221,686,000, respectively.
That means these are the maximum starting salaries and total possible contracts based on years of experience:
- 6 or fewer years (25% of the cap): $41,240,250 for up to 4 years, $177,333,075 with a new team or 5 years, $239,193,450 with their previous team.
- 7-9 years (30%): $49,488,300 for up to 4 years, $212,799,690 with a new team or 5 years, $287,032,140 with their previous team.
- 10+ years (35%): $57,736,350 for up to 4 years, $248,266,305 with a new team or 5 years, $334,870,830 with their previous team.
And the amount available for the various exceptions can go up to the following starting salaries and totals:
- Full Mid-Level Exception (MLE): $15,044,000 for up to 4 years, $64,689,200
- Taxpayer MLE: $6,064,000 for up to 2 years, $12,431,200
- Room Mid-Level Exception: $9,366,000 for up to 3 years, $29,502,900
- Bi-Annual Exception: $5,477,000 for up to 2 years, $11,227,850 (can only be used every other year)
- Minimum Exception: a $2,449,421 cap hit, aka the minimum for players with two years of experience, as long as it's a one year deal. The league subsidizes the cap hit and pays the difference between that and their actual salary that they earn based on years of experience.
Now back to the deals:
Okogie signs with the Jazz: 2 years, $12 million (Shams 7/3)
Update: Scotto added that the second year is, in fact, a team option, so there's not a ton of risk with either of these Jazz signings. Depending on just how much Keyonte George and Brice Sensabaugh potentially get on their next contracts, there's a chance that they need to decline those options to work around the luxury tax.
Drummond signs with the Knicks: 1 year, minimum contract (Scotto 7/3)
Miller re-signs with the Clippers: 3 years, $15.3 million (Shams 7/3)
LA declined their $2,497,812 team option on Miller in order to sign him to this longer deal in restricted free agency, so it's basically like a 2 year, $12.8 million extension with more evenly spread out cap hits. The #48 pick in 2023 would have otherwise been an unrestricted free next summer if they simply picked up the option, so instead they secure a solid wing off the bench for two additional seasons. Depending on what other plans they have with cap space, they might even front-load the deal to take advantage of their current flexibility, but it wouldn't be a huge difference for a contract of this size.
Update: Murray reports that in similar fashion to LA's new deal with Sanders, the final two years aren't guaranteed. I'm guessing that the last year is a team option for more flexibility, so I updated the color coding above.
Lyles signs with the Timberwolves: 1 year, likely minimum contract (Krawczynski 7/3)
Having 10 years of experience, the versatile forward would make $3,876,529 with the subsidized cap hit above on the one year minimum if that is what this is given Minnesota's proximity to their Second Apron hard cap. Wolves president of basketball operations Tim Conelly was the Nuggets GM in 2017 when they famously moved back 11 spots in the draft in order to trade for Lyles and gave up the pick that became Donovan Mitchell as a result.
Now he reunites with Lyles in Minnesota after the latter spent this past season playing for Real Madrid, where he averaged 12.5 points and 4.7 rebounds in only 20.8 minutes while shooting 49.6%/42.8%/78% with 3.4 three point attempts per game. It's a nice, out of the box shot at some needed depth with Lyles a capable stretch four who can even provide some minutes at center. Turning 31 early in the season, he's not a Reid replacement but could potentially bring some of those elements in their rotation.
Lakers move on from Ayton after a year (Shams 7/3)
Wizards receive:
Lakers receive:
That didn't take long after Los Angeles found Ayton's replacement, Kessler, on Wednesday. It's not nearly the same draft equity as what they gave up in that deal, but two 2nd rounders is not a bad return considering they only owned one 2nd before this. The small difference in salary here should make it simple to fit in their other signings, as well.
Depending on whether Alex Sarr is considering the starting center or power forward, for whatever that's worth, Washington now has the prospect of having former Lakers big man Anthony Davis being backed up by (and sometimes playing with) former Lakers big man Ayton. It's a decent move given the extra draft capital that they possess and the fact that they have more perimeter players than bigs among their group of young talent. Hardy came from Dallas as part of the Davis trade and can be a volume scorer off the bench, and we'll see if LA has actual plans for him after their other additions at guard this week. This will likely be their first transaction to open up a touch more cap space for those other moves, and because of that, Hardy could be aggregated with other players right away.
Houston salary dumps DFS to Charlotte (Shams 7/3)
Hornets receive:
Rockets receive:
TBD, likely old draft rights, a fake, top-55 protected 2nd, or the minimal cash considerations
Just a year after signing Finney-Smith to what seemed like a great deal with most of the MLE, Houston now has to attach three picks to get off of his salary after he missed the start of the season with an injury and was a shell of himself afterwards. The saving grace was that only the first two years of the deal were guaranteed or else it might've taken even more draft capital, and while they have 1st round assets for trades, they have almost no 2nd rounders.
This gets them around $3.7 million under the luxury tax before filling out at least two more spots on the roster, with 2nd round pick Bruce Thornton due to be one of them on the rookie minimum. It would've been nice to use what was essentially an expiring contract to add a similar salary that could actually help this playoff team, but they do create a Trade Exception worth the veteran wing's $13.3 million for this season. We'll see if they actually end up using it over this next calendar year or the remainder of the full MLE (after Smart's deal) now that Eason's contract is done to make the First Apron less of a concern. They finally paid the tax this past season but made moves in past years to duck it and also simply sold a 2nd round pick last week.
As mentioned before, Charlotte continues to make smart, big picture moves like this to stockpile draft picks like OKC did during their rebuild. They have a ton of financial flexibility to absorb these kind of salaries with just one guaranteed year, and after likely using the MLE as a Trade Exception here, they still have TPEs of $8.2 million, $7 million, and $40.77 million.
Green re-signs with the Pistons: 1 year, $3.9 million (Shams 7/3)
Based on the reported number, it looks like Detroit is using Non-Bird Rights to give Green 120% of his minimum salary. As a seven year veteran, the soon-to-be 33 year old would have made just under $3.3 otherwise, but he was a nice wing off the bench for the East's #1 seed. Playing in all 82 games, Green made a career-high 38.1% of his 3 threes per game while averaging 6.9 points, 2.8 rebounds, and 1.2 steals in only 17.6 minutes.
Queta extends with the Celtics: 4 years, $56 million (Shams 7/3)
Notably, the Celtics could have declined his team option for this season to give him the same total amount of money would more spread out cap hits that start around $10.1 million. However, they are likely looking to avoid the luxury tax this season after paying it in '23-25 in order to reset the repeater penalty clock.
Eason re-signs with the Rockets: 5 years, $81.5 million (Shams 7/2)
This is a much lower average salary than I expected for Eason, but Houston has been pretty strict about the second contracts they've given their young guys. Going five years at least gives the 25 year old some security instead of trying to wait out the tough market of restricted free agency. Sam Amick adds that the last year is a player option, which is another way to make up for the lower salary since that could allow Eason to hit the market sooner if he outperforms this number.
Plowden re-signs with the Kings: 2 years, $5.1 million (Scotto 7/2)
Jones re-signs with the Nuggets: 1 year, likely minimum contract (Shams 7/2)
Williams re-signs with the Thunder: 1 year, $5 million (Haynes 7/2)
Anderson signs with the Raptors: 1 year, minimum contract (Shams 7/2)
Simons signs with the 76ers: 2 years, $12.3 million (Shams 7/2)
It looks like Simons is getting the rest of Philadelphia's MLE after Wade, and Ariel Hukporti's deal would be with the BAE. So if they are really pursuing LeBron, who overlapped with new top executive Gansey in Cleveland, it would have to be for the minimum or with something pretty creative. Teammates in Chicago at the end of last season, Simons and Sexton have been consistently mentioned as similar potential fits with teams as small scoring guards from the 2018 draft. Now both have had to take big discounts from their last contracts on 1+1 deals to try to rebuild their value on a playoff team before potentially hitting the market again next summer.
Simons had to settle for even less than what Sexton got yesterday, and according to both Stein and Brett Siegel, his offers from the Warriors and Heat were even lower, likely the minimum. Now after the 76ers' big trade yesterday for Brown, they add his teammate from the start of last season as a key sixth man to backup Tyrese Maxey and VJ Edgecombe before rookie Labaron Philon is ready.