The NBA generated more basketball-related income than ever this past season, the total number coming up just short of $9 billion.
Business is good. The first night of free
agency underscored how good.
Nikola Jokic and Bradley Beal both quickly
agreed to deals that will be worth more than a quarter of a billion dollars by
the time they expire, highlighting the moves made Thursday when the NBA’s
annual free-agent negotiating window opened.
Jokic agreed to a supermax extension to
remain with the Denver Nuggets, the two-time reigning MVP guaranteeing himself
at least $264 million over five seasons starting with the 2023-24 campaign. The
final number may go up slightly depending on what the league’s salary cap is
going into the ‘23-24 season and if it exceeds current projections.
Beal will make $251 million over the next
five seasons after re-signing with Washington, one day after turning down $37
million for this coming season from the team with whom he’s spent the entirety
of his 10-year career.
Other extensions expected to be struck soon
include supermax deals for Minnesota’s Karl-Anthony Towns and Phoenix’s Devin
Booker. And then there’s a slew of rookie extensions that can start coming
Friday, with Memphis’ Ja Morant, Miami’s Tyler Herro and New Orleans’ Zion
Williamson among the names on that list.
All those moves, even the biggest-money
ones, were overshadowed by a piece of non-free-agent news that came earlier
Thursday when Kevin Durant, according to a person with direct knowledge of the
situation, told the Brooklyn Nets that he wanted a trade. That undoubtedly had
some sort of an impact on the decisions some teams were making, or were
considering, with the surprise development that one of the world’s elite
players is looking for a new place to play.
Jokic and Beal have signed lucrative
contracts before. For some, the ones they get this summer will be their first.
Jalen Brunson, as had been widely
speculated given his deep ties to the Knicks - his father played there, for
starters - agreed to sign with New York, on a deal that ESPN reported would be
worth $104 million over four years. He had earned about $6 million, total, in
his four seasons with the Dallas Mavericks and saw his value soar by averaging
21.6 points in 18 playoff games this past season.
Anfernee Simons, who had a breakout season
for the injury-plagued Portland Trail Blazers last year - taking advantage of
his opportunity, and then some - agreed to a four-year, $100 million contract
to remain with that club. And Lu Dort, undrafted three years ago and someone
who made about $4 million combined in his three seasons with Oklahoma City, will
stay with the Thunder for the next five years on a deal worth nearly $88
million.
NBA NUMBERS
The NBA set the new salary cap, luxury tax
and other numbers that will be used this coming season and go into effect
Friday.
The cap is $123.655 million, the tax level
is $150.267 million. The minimum team salary level is $111.29 million and the
exceptions were set as wel. The non-taxpayer mid-level is $10.49 million,
taxpayer mid-level is $6.479 million, and the mid-level for a team with room
under the cap is $5.401 million.
TUCKER TO PHILADELPHIA
P.J. Tucker is reuniting with Philadelphia
general manager Daryl Morey and - assuming he re-signs, as planned - James
Harden as well. Tucker agreed Thursday to a three-year deal with the 76ers for
$33 million. Morey, Tucker and Harden were together with the Houston Rockets;
Harden declared free agency Wednesday with the intention of coming back to
Philadelphia. Tucker won a title with Milwaukee in 2021 and helped Miami to the
Eastern Conference finals in 2022.
MCGEE CHOOSES MAVERICKS
Dallas and JaVale McGee - a three-time NBA
champion and an Olympic gold medalist as well - agreed on a contract for two
seasons and a third at McGee's option worth about $20 million. McGee has played
for eight NBA teams and is heading to Dallas for a second time; he played 34
games there in 2015-16.
PORTIS, INGLES TO BUCKS
Bobby Portis (four years, $49 million) is
returning to Milwaukee, and the Bucks are adding veteran guard Joe Ingles as
well. Ingles is signing a one-year deal, according to his wife, Renae Ingles,
who tweeted that "CEO of the house, Renae Ingles, is thrilled for Joe and
their family.”
HEAT DECISIONS
Miami will retain Victor Oladipo on a
one-year, $11 million deal and Dewayne Dedmon on a two-year deal for about $9
million, though the second year has conditional protections.
MAGIC KEEPING HARRIS
Gary Harris signed with the Orlando Magic,
the team said, with the sides agreeing on two years for $26 million for the
guard. The Magic are also keeping center Mo Bamba on a two-year deal.
RAPTORS MOVES
Toronto is keeping forwards Chris Boucher
(three years, $36 million) and Thaddeus Young (two years, $16 million).
BAGLEY STAYING
Detroit moved quickly to lock up restricted
free agent Marvin Bagley III, agreeing to keep him with a three-year, $37
million deal.
WRIGHT TO WIZARDS
In addition to keeping Beal, the Wizards
also agreed to a two-year, $16 million deal with guard Delon Wright.