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:
Simmons signs with the Kings: 1 year, minimum contract (Shams 9/4)
Having nine years of experience (due to sitting out last season), 2016's #1 overall pick will make just over $3.5 million with the subsidized cap hit above on the one year minimum. There's been talk about Sacramento wanting a veteran ball-handler to help rookie Darius Acuff, and after Westbrook retired instead of returning, they landed on Simmons. The 30 year old has seemed to be a shell of his former self ever since the unbelievable collapse against Atlanta in the 2021 playoffs and subsequent back issues, but at this price, there's no risk in taking a shot on reviving his career.
Thompson extends with the Rockets: 5 years, $208 million (Shams 9/3)
It feels like Houston is the only team that doesn't just automatically give out max contracts and actually negotiates hard with their stars, especially if they have the leverage of restricted free agency looming. Thompson is only the second player from the lofty 2023 draft class to sign an extension, and based on current cap projections, the 25% max would have been $252 million over 5 years like what Wembanyama signed for. Locking in the 23 year old rising star, who made First Team All-Defense in his second season, at this number could go a long way towards helping the Rockets' tax bill and potential Apron issues as more and more of their roster start to hit new contracts.
Wolves shed more salary (Shams 8/28)
Jazz receive:
Timberwolves receive:
Already saving about $2.5 million in this transaction (which is equivalent to a veteran minimum), Minnesota is also waiving and stretching Konchar's contract over three years to make this a cut of nearly $6.6 million in salary for this season. That gives them enough room under the Second Apron to make the Kuminga signing official, and they're getting a look at Williams, who turns just 22 in November. The #10 pick two years ago is nowhere near the player that his brother Jalen is, but he at least made notable progress this past year after a terrible rookie season.
Green could have been a useful 3+D wing on a playoff team like the Wolves, but this type of transaction works out well for their flexibility to a sign a bigger need at forward with Kuminga. Instead, Green will be a nice veteran who only turns 26 himself in November for a young Jazz team that hopes to finally be competitive now. Williams looks like mostly a whiff on such a high pick, so deciding to swap out any potential upside for a more proven player is an understandable move for where they are in their trajectory at long last. Konchar being collateral damage here is a little surprising since he's been a useful player in the past, but he should catch on with another playoff hopeful team on a minimum.
Richards signs with the Heat: one year, likely minimum contract (Shams 8/27)
Kuminga signs with the Timberwolves: 2 years, "$13 million" (Shams 8/26)
Mathurin signs with the Pelicans: 2 years, $16 million (Shams 8/26)
It's surprising that the Clippers are just going to let a 24 year old scorer go for nothing like this when they controlled his restricted free agency, but getting that player option for next year is a nice win for Mathurin instead of merely accepting the one year Qualifying Offer for a similar salary this season. New Orleans will need to clear some salary to use part of the MLE to make this addition and still stay under the First Apron hard cap that this will trigger, let alone under the luxury tax line that the franchise will seemingly never cross.
Niang signs with the Warriors: 1 year, minimum contract (Shams 8/25)
8/27 Update: Scotto reports that Niang only has $1.84 million guaranteed in this contract.
Williams signs with the Warriors: 1 year, minimum contract (Shams 8/25)
DeRozan signs with the Nuggets: 1 year, minimum contract (Haynes first, Shams the details 8/21)
Thompson to sign with the Heat: two years, "nearly $13 million" (Shams 8/21)
Thompson needs to officially clear waivers after his buyout with the Mavericks, but there's basically no chance any team claims his $17,460,317 contract. Given Miami's hard cap at the First Apron, I expected this to be a minimum contract, which would have been for $3,876,529, but the four-time champion is instead getting what I'm projecting as the equivalent of the TP MLE on a 1+1 deal. The first year is likely the amount that he gave up with Dallas to gain his freedom after a trade market failed to materialize for the 36 year old, which is a decent chunk of savings for them to add more room under the tax line. Thompson may not be the two way player that he once was, but he obviously helps fill the Heat's need for shooters around Antetokounmpo and Adebayo.
8/22 Update: Scotto reports that Thompson actually gave up roughly $9.8 million in his buyout, so I guess it's this year's salary plus the veteran minimum for next year since he is getting two years here. He's still getting more total money guaranteed, but that definitely makes the transaction an easier pill to swallow for the Mavs.
8/23 Update: Now that Thompson officially cleared waivers and is free to sign with the Heat, Amick reports that this is actually an $11.5 million contract. That little bit of a difference means that they have enough room under their First Apron hard cap to sign a 15th player to a standard contract instead of going into the season with just the minimum of 14.
Harden re-signs with the Cavaliers: 3 years, $97 million (Shams 8/20)
As mentioned yesterday, Cleveland is about $28.4 million below their First Apron hard cap, so I believe that they still need another move or two to fit in this starting salary. Harden declined his $42,317,307 player option that was guaranteed for $13,317,307 in order to help the team with a smaller cap hit this year and gain $54.68 million more guaranteed. Turning 37 next week and not exactly known for taking care of his body, it's risky to commit this much through his age 39 season. It is an understandable compromise, though, given the flexibility that it provided under the First Apron to make a move like they did for Watson. Incredibly, their starting five projects to combine for $179.47 million this season aka $14.5 million over the salary cap.
Cavs sign-and-trade for Watson, 4 years, $88 million, in five-team deal (Haynes first, Shams the details 8/19)
Cavaliers receive: $25,923,426 total in; $31,470,036 total out
Clippers receive: $16,660,836 in; $0 out
Nuggets receive: $0 in; $20,465,116 out
2031 Cavaliers 1st round pick (via Cavs)
2032 Kings 2nd round pick (via Cavs)
Wizards receive: $8,000,000 in; $5,458,310 out
Hornets receive: $14,809,200 in; $8,000,000 out
So after this long restricted free agency saga, Denver only ended up with one total 1st round pick in the end? I know they would pay a ton in luxury tax to retain Watson, but this isn’t even an outrageous contract that they couldn’t just pay themselves. Kroenke strikes again despite having Nikola Jokic in his peak years. They can't even use the Trade Exception they're creating that's worth 50% of Watson's salary (due to Base Year Compensation) due to the Second Apron, so there aren't likely to be any other roster additions for more than the minimum.
LA can easily fit Strus into their own TPE that they created in the $17 million Collins sign-and-trade last month, so that's a nice use of the extra 2nd rounder that they picked up from Philly in the Broome salary dump, as reported by Fischer.
Cleveland will now be hard-capped at the First Apron with this move, so that leaves them with under $26 million of operating room for the first year of whatever Harden's new contract will be. They already owed their 2027 and 2029 1st round picks, so this one in 2031 is the first that was available to be traded. They also now lack any 2nd round picks until 2033. Being that far out increases the upside for Denver, but it's still a pretty low price to pay for a wing who showed the upside of Watson and only turns 24 next month.
Update: Shams adds that Washington is also involved in the deal with a Tre Mann for Cam Whitmore swap, which adds some extra wiggle room (to about $28.4 million) for Cleveland at the cost of the 2nd rounder that LA is sending out. Two-Way player Julian Reese is heading to Denver to satisfy the requirement of Washington "touching" more than one team, but he'll be immediately waived.
The previously reported trade sending Schroder to Charlotte was also looped in, which makes sense since Mann isn't ending up in Cleveland. Gozlan pointed out that doing so means that the Cavs can create a TPE worth Strus' $16.6 million instead of Schroder's $14.8 million, and with Whitmore coming back instead of Mann, they can just use the $6,897,984 D'Andre Hunter TPE and preserve the $10 million Lonzo Ball TPE.
Watford signs with the Pelicans: 1 year, minimum contract (Shams 8/17)
Schroder gets moved yet again (Shams 8/14)
Hornets receive:
Cavaliers receive:
Beal re-signs with the Clippers: 2 years, $13.2 million (Shams 8/13)
