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:
Wembanyama extends with the Spurs: 5 years, $252 million (Fischer that it was close, Shams the final news 7/10)
Fischer first had word early today that there was buzz that Wembanyama would take less than even this 25% max contract, which would have been stunning, before editing that tweet to clarify that he's taking less than the potential 30% max. That is more reasonable because even with the youngest and first ever unanimous DPOY making $55,174,766 on his rookie contract, taking less than the 25% max in his first extension would be pretty unprecedented for a player of this status. Still, not including the escalators in this deal to bump it up to a 30% max when it kicks in a year from now is a lot to give up.
Minnesota, Charlotte, Brooklyn, and Chicago finally complete their deal (team announcements 7/10)
Timberwolves receive: $55,449,532 total in; $56,609,196 out
Hornets receive: $25,686,952 total in; $55,449,532 out
Nets receive: $33,333,334 in; $23,320,738 out
Bulls receive: $23,320,738 in; $2,411,090 out
After the fun of figuring out the mechanics of what ended up a six-team trade on Tuesday, I figured I'll provide this update on the Wolves trades that got combined since news has slowed down, especially since Gueye's destination changed. The Kawhi trade getting held up these past 24 hours have also shown that some of these deals that couldn't become official until after the moratorium aren't official until they are fully approved.
As I speculated on the night of the Ball news, Minnesota combining their two deals was necessary for them to aggregate enough salary to add the All-Star guard. You can see the slight difference in total contracts above, and whenever they likely use the Second Round Pick Exception to sign Evans, who was a steal in the 2nd round, there will be a little more savings compared to Jefferson's rookie scale contract. Despite sending out more than they're taking in, a Second Apron hard cap will be in effect due to aggregating salaries.
Instead of Minnesota, Gueye ended up in Charlotte so that they could also "touch" Chicago and not just be in contact with one team, as legally required in multi-team trades. He got his team option picked up for this deal, but since his salary did not need to be guaranteed to aggregate salaries, I'd expect him to be waived given the Hornets' pretty full roster. Since Gueye can be taken in through the Minimum Exception, their big Trade Exception worth Ball's $40.77 million shouldn't be affected.
Because Gueye signed his contract on April 9th, the trade couldn't become official until yesterday, July 9th, but I wonder if this extra day of wait was due to Brooklyn wanting a little more time to try to maximize their cap space before it went through. I mentioned below how they would need to use their cap space for this trade since Claxton's decreasing salary was just short of being a match for Randle's, but others have since pointed out that they could guarantee Malachi Smith's $2,150,917 contract to add to the deal. That wold have allowed them to use the roughly $8 million difference in salary as cap space and then finalize this move, but instead, they're down to about $11.75 million of available space before using the Room MLE to make Wagner's signing official.
Nothing changed on Chicago's end other than sending Gueye to Charlotte instead of Minnesota.
Bassey re-signs with the Warriors, 1 year, likely minimum contract (Shams 7/9)
This is almost assuredly a the vet minimum after Bassey bounced around on multiple 10-day contracts in recent years, and having 5 years of experience, the backup big man would make $2,845,883 with the subsidized cap hit above on the one year deal. Turning 26 in October, I've always thought that the former Western Kentucky star could be a solid rotation player as an elite rebounder who can block some shots and finish inside, and even with Golden State retaining Porzingis and Horford, they'll likely need another body inside to fill in for some games.
Bassey's never been able to earn heavy minutes but has a 26.7% career defensive rebounding rate, and on a per-36 minute level, he has career averages of 14.4 points, 13.8 rebounds, 2.6 assists, 1.2 steals, and 2.8 blocks, albeit with 2.4 turnovers and 5.3 fouls. At the G League level last season, he even made 20 of 46 threes (43.5%) in 20 games between the Santa Cruz Warriors and Delaware Blue Coats, so perhaps he could bring some of that element to Golden State after their loss of Post.
Nance re-signs with the Bucks: 2 years, minimum contract (Fischer 7/9)
After Milwaukee waived Nance's non-guaranteed salary with their roster maneuverings, he's now in line to make slightly more than he was originally due. Since this is a two year deal, his cap hit counts for his full salary as a player with three years of experience.
Clarkson re-signs with the Knicks: 1 year, minimum contract (Shams 7/9)
Bamba re-signs with the Jazz: 2 years, likely minimum contract (Shams 7/8)
Another deal with no financials reported by Shams, so I'm going with the minimum like Bamba has had to play on in recent times, including 10-days after being multiple times. Because the 28 year old is signing a multiyear deal instead of a one year minimum, his cap hit will count for his full salary. Utah has plenty of room under the tax line to absorb that difference, and I'm willing to bet that the second year is a team option and/or non-guaranteed and added purely for potential trades next year.
Nance signs with the Pacers: 1 year, minimum contract (Shams 7/8)
Update: Tony East reports that Potter will indeed be the roster casualty. He doesn't have a ton of size but has always had a nice DReb% to go with being a 38.9% career three point shooter, mostly from last year as the largest sample of his career. The 28 year old could be a sneaky waiver claim on the minimum.