Hawks’ Trae Young signs $207m extension as NBA free agents cash in
Kyle Lowry is headed to the Miami Heat, Lonzo Ball is on his way to the Chicago Bulls, while Phoenix’s Chris Paul and Utah’s Mike Conley landed lucrative deals to remain with their current teams. The combined commitments to those four players alone: more than $360m.
Lowry and the agency that represents him, Priority Sports, said he was headed to the Heat. A person with knowledge of the deal said he would be signing a three-year contract worth nearly $30m annually in what will become a sign-and-trade that sends Goran Dragic and Precious Achiuwa from Miami to Toronto. The person spoke to The Associated Press on condition of anonymity because nothing had yet been approved by the league.
“Miami Heat X Kyle Lowry Let’s Goo!!” Lowry wrote on Twitter, followed by five fire emojis.
Paul agreed to a contract to remain with the Western Conference champion Phoenix Suns, another person with knowledge of that deal said. It would be worth nearly $120m if all four years are completed and would push Paul’s career earnings past the $400m mark. He turned down a $44.2m option for this coming season to negotiate a longer deal, and after the success the Suns had this season in their run to the NBA finals it seemed doubtful that he would look to play elsewhere.
Conley agreed to a $73 million, fouryear deal to remain with the Utah Jazz, the team that finished last season with the NBA’s best regular-season record and expects to bring back most of the same core for another run this season. Conley confirmed the signing on Twitter; a person confirmed the terms to AP.
Another top point guard, Derrick Rose, was returning to the New York Knicks on a three-year, $43m deal, a person told AP.
The trend of big money for point guards on Monday continued even for players under contract for this coming season already. Atlanta’s Trae Young agreed to a five-year, $207m extension that starts in 2022, Klutch Sports announced. And Golden State’s Stephen Curry is now eligible to sign a fouryear extension that, if he takes the max value, would exceed $215m.
The NBA’s window for talks opened at 6pm ET Monday, and as has become tradition, it did not take long for handshake deals to commence. No new contracts can be signed until noon Eastern on Friday. The league set the salary cap for this coming season at $112.414m, with the tax level at $136.606m.
Monday night in the NBA equated to early Tuesday morning at the Olympics and shooting guard Evan Fournier gave his agent strict instructions to not call in the middle of the night with incremental developments. Fournier agreed to a $78m, four-year deal with the New York Knicks only a few hours before helping France defeat Italy in the Olympic men’s quarterfinals.
“I’m not a very nervous or stressful person, so it wasn’t that big of a deal, but I did think about it when I first woke up,” Fournier said.
He had a quick conversation with Knicks coach Tom Thibodeau, let him know the decision and then got back to Olympic prepping.
“I’m glad it’s over, for sure,” Fournier said.
Miami made the biggest early splash, not just landing Lowry but agreeing to terms with three-point specialist Duncan Robinson on a deal that would be worth nearly $90 million if all five years are completed. Robinson, a person with knowledge of the deal said, agreed to a contract where four years are guaranteed and the fifth is only so partially. The Heat also lured PJ Tucker away from NBA champion Milwaukee; Tucker will make around $7m this season in Miami and holds an option to remain there in 2022-23.
And Miami aren’t done: Not only is this the summer where Bam Adebayo’s five-year, $163m contract agreed to last fall kicks in, but the Heat plan to final
ize an extension that would be worth an average of roughly $45m annually with Jimmy Butler later this week. Butler and the Heat cannot begin those talks until Friday at the earliest by league rule.
Lowry is leaving Toronto after nine seasons there and helping the Raptors win the 2019 NBA championship. Considered by many the greatest Raptor ever, it’s fitting that his last move with the team amounts to another assist a sign-and-trade to make sure Toronto got some assets back instead of just seeing him leave as a free agent.
Ball will be acquired by the Bulls from New Orleans in a sign-and-trade deal worth $85m, Klutch Sports announced. The deal, according to ESPN, also included sending Tomas Satoransky and Garrett Temple from Chicago to the Pelicans. Ball isn’t the only guard heading to Chicago; Alex Caruso is leaving the Los Angeles Lakers for the Bulls on a four-year deal worth a reported $37m.
Some other deals struck Monday and confirmed to AP:
• The Bucks are keeping Bobby Portis for next season, with a player option for 2022-23.
• Toronto agreed to keep Gary Trent Jr, who impressed in his time with the Raptors following a midseason trade, on a three-year deal worth $54m.
• The Denver Nuggets reached two-year agreements to keep guard Will Barton and forward JaMychal Green. Barton’s deal is for $32m and Green’s for $17m.
• The Dallas Mavericks agreed to a four-year, $74m deal to retain Tim Hardaway Jr.
• The Indiana Pacers agreed to a four-year deal to keep point guard TJ McConnell, with ESPN reporting that deal would be worth roughly $9m annually.
• Cleveland is keeping center Jarrett Allen on a five-year, $100m deal.
• The well-traveled Wayne Ellington said he was returning to the Los Angeles Lakers, the team he last played for 2015.
Nets could pay $538m to extend star trio
Kevin Durant, Kyrie Irving and James Harden are eligible for massive contract extensions this month worth more than a half-billion dollars.
Durant, 32, is eligible for a four-year deal worth $197.7m and Irving can cash in for $181.6m over four years or hold off until next summer, when the max extension value under the collective bargaining agreement would be a fiveyear, $235m whopper.
General manager Sean Marks said the Nets are working through the process of making roster decisions.
“It’s probably too early to begin discussing what their futures are ... obviously we’re committed to them. They play a big role in how we’re going to continue to build this, how we’re going to drive our culture and the identity of our team,” Marks said last month. “What you see out there is - when they’re healthy - that’s a very, very elite unit.”
Durant turns 33 before the start of the season, making him ineligible for the five-year extension based on the NBA’s “over-38” rule.
Harden can sign a three-year extension worth $161.1m.
Durant said he expects all three to make “the right decision” on their contracts.
“Keep growing individually. That’s the most important thing: how we’re growing individually,” Durant said. “Definitely how we come together as a team. I enjoy seeing my teammates get better; I enjoy getting better and have an environment that encourages that every single day.”
If the Nets sign the All-Star trio to extensions, filling out the roster becomes challenging without paying record levels of luxury tax penalties.
Nine players on the season-ending roster, including Spencer Dinwiddie, Blake Griffin and Jeff Green, were free agents. However, Griffin’s agent told ESPN late Monday night that his client agreed to a one-year deal to remain in Brooklyn.