2021 NBA free agency: Live updates, trades, news; Kawhi Leonard near Clippers deal, Durant agrees to Nets extension

Nets star Kevin Durant has agreed to sign a four-year, $198 million contract extension to remain in Brooklyn, the 11-time All-Star announced, via Boardroom.

We’ll have much more to come on this story at The Athletic.

The LA Clippers continue to handle their business right before the Vegas weekend gets underway.

The main one: Kawhi Leonard is close to a new contract with the Clippers, sources told The Athletic on Friday, confirming Yahoo Sports’ initial report. The news comes after he declined his player option over the weekend. A new contract has always been the expectation. What is still being determined is the length of the deal. But Leonard has made his commitment, and that takes care of the long-term plan for the Clippers; at least, it keeps it on track with Leonard expected to miss a significant portion of the next year.

That’s where things get interesting: next season. Leonard likely won’t help next season’s team. But perhaps another big wing will, and that’s Justise Winslow. Sources also confirmed the Clippers are close to a deal with former Grizzlies forward, as first reported by ESPN.

Winslow would be the first player the Clippers acquired that played for another NBA team last season. The Memphis Grizzlies traded Andre Iguodala to acquire Winslow in February 2020, but Winslow’s time in Memphis was wrecked by a left hip injury. The Clippers envision Winslow as a big wing option off the bench, perhaps even a third power forward behind Marcus Morris Sr. and Nicolas Batum. Winslow was the 10th pick in the 2015 draft and is only 25 years old. He’s going to be the latest reclamation project for the team and a much younger one at that.

A league source confirms that the Bucks are trading Sam Merrill and two future second-round picks for Memphis guard Grayson Allen. ESPN was first to report the deal. In his third season with the Grizzlies, the 25-year-old Allen started 38 of the 50 games he played and put up 10.3 points, 3.2 rebounds and 2.2 assists in 25.2 minutes per game. Over the last two seasons, Allen has attempted 415 3-pointers (4.71 per game) and made 39.5 percent of them.

He is still on his rookie contract, which means he will be a restricted free agent next summer, which will give the Bucks the opportunity to pay him as much as they need to keep him, if they want him to stay in Milwaukee. With Jrue Holiday and George Hill at point guard and Donte DiVincenzo and Pat Connaughton at shooting guard, Allen will likely not have quite as solid of a role, but he could be especially valuable early in the season if Donte DiVincenzo needs extra time to rehab his injury. While giving up picks is always tough to do from an asset management perspective, the Bucks just added a semi-regular starter from a fringe playoff team to be the ninth or tenth man in their rotation, which is a solid acquisition this late into the free agency period.

When I asked Reggie Jackson following Game 6 of the Western Conference Finals about what the past season meant to him personally, Jackson was overcome with emotion, taking about ten seconds to contemplate a response.

“My tenth year, this was my best year. My most challenging year. Most fun year,” Jackson said, his eyes unable to contain the tears that were welling. “It sucks that we didn’t win it, but I’ll ride with those guys. Those guys rode with me all year, and I’ll ride with those guys.”

Now, Jackson is going to stay with those guys. He’s back on a two-year, $22 million deal the Clippers were able to give him based on his Early Bird rights. Yes, Jackson was available to listen to other teams. But he wanted to stay with the Clippers, a team that has kept their core together more than any other team this offseason.

Jackson will be asked to do a lot next season, namely, carry over the supreme shot-making he displayed in the postseason (3.1 3s per game, 40.8 percent from 3) over the course of a regular season. Jackson and Morris Sr. will likely be the second and third options in some order behind Paul George offensively next season, with the unsigned Kawhi Leonard nursing a torn ACL. Clippers head coach Tyronn Lue put Jackson in the starting lineup in the playoffs ahead of Patrick Beverley, and Jackson showed that he was up for it after starting the year on the bubble of the rotation.

Like Nicolas Batum, Jackson was revitalized last season following a contract buyout from his previous team. His on-court contributions were supplemented by his fit in the locker room. Now, Jackson has a fully guaranteed multi-year deal, one that no team (Clippers included) would give him last autumn. The Clippers have to figure out Leonard’s contract, but for the most part, the Clippers have achieved their goal of valuing continuity this week.

Lauri Markkanen’s tenure with the Bulls appears to be over after four seasons. The restricted free-agent forward was quoted by Finland-based broadcasting company YLE Sport as saying he wants to join a new team this summer.

“We have offers from several different teams,” Markkanen is quoted as saying. “I want a fresh start to my NBA career somewhere else. Hopefully things will be sorted out quickly with the Bulls and a new direction for my career.”

Chicago is expected to engineer a sign-and-trade deal for the 2017 seventh overall pick so the Bulls can recoup an asset. Markkanen, once viewed as a foundational piece for the Bulls, enjoyed a career year as a 40.2 percent 3-point shooter on 5.8 attempts per game. At 7-feet, Markkanen’s perimeter touch makes him an intriguing floor-spacing big man. But his price tag has been the sticking point since he and the Bulls failed to reach an extension prior to the start of last season. Injuries, inconsistency, a health scare tied to a rapid heartbeat, franchise turmoil, poor roster construction, as well as coaching and front office changes all contributed to Markkanen’s rocky time in Chicago.

Markkanen averaged career lows across several categories this past season, shifting to a bench role late in the season. Over 51 games, 26 starts, he averaged 13.6 points, 5.3 rebounds and 0.9 assists in 25.8 minutes per game.

The Hornets are in discussions with free-agent forward Kelly Oubre, Jr., per league sources. Oubre, 25, played last season in Golden State after a deal sent him from Oklahoma City to the Warriors just before the start of training camp. There was no deal as of late Thursday, but the sides are engaged. Oubre, 25, averaged 15.4 points and 6 rebounds for the Warriors, who took him on despite the huge luxury-tax hit his salary cost them last year.

Oubre could be a good fit with Charlotte’s young core group, including guards LaMelo Ball and Terry Rozier, forwards Gordon Hayward, Miles Bridges and P.J. Washington, and incoming rookies James Bouknight and Kai Jones. Injuries and inconsistent defensive effort down the stretch – the Hornets were 6-10 in April and got blown out by Indiana in the Play-In round – kept Charlotte from making the top eight in the Eastern Conference. Oubre could help if the two sides can make a deal.

Our Shams Charania reported earlier Thursday that the Hornets had emerged as a team that had strong interest in signing Bulls restricted free agent forward Lauri Markkanen to an offer sheet when RFAs are allowed to begin signing offers on Friday.

UPDATE: Free agent Kelly Oubre Jr. has agreed to a two-year, $26 million-plus deal with the Charlotte Hornets, sources tell Shams Charania.

Our Shams Charania reports that the Bucks are going to sign George Hill to a two-year, $8 million deal. Both years of the contract are guaranteed, per a league source. To sign Hill to such a contract, the Bucks needed to use part of the $5.9 million taxpayer midlevel exception (TPMLE) they managed to keep intact by signing Bobby Portis to a two-year, $9 million contract. The TPMLE was the last larger contract the Bucks could have handed out to a free agent this offseason. Now they have roughly $1.9 million left on the TPMLE, minimum level contracts, and two traded player exceptions ($4.9 million and $1.7 million, respectively) to try to make another move yet this offseason. The potential signing of Hill had been reported by Charania two days ago, but it is worth repeating that the Bucks needed a backup point guard and Hill successfully played shooting guard when he was with the Bucks in the 2019-20 season. $4 million is probably about just right for a player of his skills and talent.

The Charlotte Hornets have emerged with strong interest in a potential offer sheet for Chicago restricted free agent Lauri Markkanen, sources tell The Athletic. RFAs can begin signing sheets Friday.

The Atlanta Hawks are re-signing guard Lou Williams on a one-year, $5 million deal, his agent, Wallace Prather, told The Athletic on Thursday. Williams, 34, was traded from the Clippers to the Hawks in March in exchange for Rajon Rondo, joining his sixth NBA team.

It’s time to wait for the other shoe to drop.

That shoe, of course, is the trade market, and it could be a really interesting one this time around. Some teams held themselves back a bit in the free-agent market because of three significant All-Star dominoes that could pop up on the trade market, while others are looking to get into the secondary market that could result from adjustments to existing deals.

The Knicks and Julius Randle have found an accord on an extension. Well, there wasn’t much to find. Randle got the max he could get in years and dollars, with a reported four-year, $117 deal put on the end of the year he has left on this current contract. The Knicks get Randle under contract long-term after a breakout year where he made second team All-NBA and Randle gets a lot of money and buys out the downside risk of injury or regression next year. Of course he could have made more if he waited for free agency but, again, injury and regression could have also eaten away at that number. This also gives the Knicks cost certainty going into next year, with their cap sheet pretty much accounted for through the summer of 2023.

Late at night, the Sixers brought back Danny Green on a two-year, $20 million contract. Unfortunately for Green, who played well a season ago, it seemed like the non-taxpayer midlevel exception is where he topped out at in this market with limited cap space around the league. This is an important signing for the Sixers, with a player whose 3-and-D style was important to their success a season ago. And so far, the theme of this offseason has been running it back with the same or similar players. They re-signed Green and Furkan Korkmaz, while they replaced Dwight Howard and Mike Scott with Andre Drummond and Georges Niang. Now we see what happens with Ben Simmons.

I don’t think Steph Curry will feel great about everything the Warriors do over the next five years. I don’t think he’s felt great about everything they’ve done in the last five. But I’m sure he feels very good about being a Warrior for the first 12 seasons of his career and is ready to feel good for the next five too. He’s made it incredibly worthwhile for this franchise and it’s been worthwhile for him too. Let it continue for eternity, if possible.

That’s the first thing that struck me about the first few days of the Warriors’ activity in the NBA offseason signing period. Here are four more.

Exciting news: We’ve been waiting to see what future second-round picks Memphis gave up to Utah to move up from 40 to 30 on draft night. Via today’s Eric Paschall trade, we now know that one of them was the Grizzlies’ second-rounder in 2026, which the Jazz will send to the Warriors if it doesn’t fall in the top 42. What, pray tell, will be the other one? The excitement may linger until the moratorium ends on Aug. 6 and the trade becomes official.

I’m totally unsurprised with Raul Neto’s return to Washington. The Wizards loved him this year, when he was one of their most consistent players. He’s a feisty defender and is good for 38-40 percent from deep. The Wizards needed another point guard to join Spencer Dinwiddie and Aaron Holiday. Neto makes perfect sense there.

The Orlando Magic on Wednesday made their second move of the free-agency negotiating period, reaching an agreement with Moe Wagner on a two-year contract, The Athletic has learned. Wagner is a 6-foot-11 big who finished last season with the team and previously played for Los Angeles Lakers, Washington Wizards and Boston Celtics.

How does Wagner fit on the Magic roster? That will depend, in part, on whether Jonathan Isaac is ready to play when training camp begins in late September. Isaac suffered an ACL tear and meniscus tear a year ago, and while Isaac has made progress in his recovery, there is a real chance the Magic will be extra cautious in bringing him back. If Isaac is not ready at the start of training camp, second-year player Chuma Okeke would be the clear starter, with Wagner most likely as the primary backup.

Once Isaac does return, Wagner, 24, will be around to provide extra big-man depth — and also a familiar face to younger brother Franz Wagner, whom the Magic chose eighth overall in the 2021 NBA Draft. The Wagner brothers both attended the University of Michigan, but their tenures in Ann Arbor did not coincide.

The Magic currently have 15 players either under contract or with contracts pending for 2021-22. But the team is likely to waive swingman Dwayne Bacon, whose $1.8 million salary for the upcoming season is nonguaranteed for a few more days.

Shams Charania: Free agent Spencer Dinwiddie is headed to the Washington Wizards on a three-year, $62 million contract via sign-and-trade, sources tell The Athletic. The Wizards are sending a second-round pick and a draft swap to Brooklyn to acquire Dinwiddie, sources said. The Wizards are sending Chandler Hutchison and a second-round pick to San Antonio, sources say.

Alex Schiffer: The Nets didn’t give up Spencer Dinwiddie for nothing. They get back a 2024 second-round pick and a pick swap the following year. Oh, and a $11.5 million trade exception. Given the attrition the Nets dealt with this past season and the newly stacked Eastern Conference, this isn’t a bad asset to have in your back pocket if Brooklyn feels it’s a piece away from a title at next year’s trade deadline.

Fred Katz: A five-team trade. My head hurts. Here are the details (that we know thus far):

Wizards receive:

Spencer Dinwiddie

Kentavious Caldwell-Pope

Montrezl Harrell

Kyle Kuzma

Aaron Holiday

No. 31 pick Isaiah Todd

Nets receive:

Most favorable of MEM/WAS 2024 second-rounder

Second-round 2025 GSW/WAS pick swap

$11.5 million trade exception

Spurs receive:

Chandler Hutchison

Most favorable of CHI/LAL/DET 2022 second-rounder

Lakers receive:

Russell Westbrook

Least favorable of WAS/MEM 2024 second-rounder

WAS 2028 second-rounder

Pacers receive:

No. 22 pick Isaiah Jackson

David Aldridge: Bottom line for the Wizards: Holding fast and not including Kyle Kuzma in this trade – as everyone around the league believed was inevitable – along with not having to surrender another first-rounder or one of their young players in which they hold the most hope, like Deni Avdija or Rui Hachimura or Daniel Gafford, is incredibly good work by GM Tommy Sheppard and the front office.

Most importantly, Washington got its guy in Dinwiddie, signed him to a big but not insane number (his average of $20 million for three years puts him somewhere around the middle of the pack of current point guard salaries league-wide) and flipped the huge contracts of John Wall and Russell Westbrook into multiple solid rotation players within the last 10 months.

It still feels like there’s another roster shoe to drop before next season. Dinwiddie, Bradley Beal, Hachimura and Gafford are likely starters, but will the fifth starter be Caldwell-Pope or Kuzma? The bench currently would have one of either KCP/Kuz along with Dāvis Bertāns, Avdija, Montrezl Harrell and first-rounder Corey Kispert (with center Thomas Bryant not likely to start the season on time as he continues to rehab an ACL tear). That feels forward-heavy, doesn’t it?

Having tradeable, solid players who could be flipped the other way? That’s a brand-new good problem for the Wizards.

League sources confirm the Jazz acquisition of forward Eric Paschall for a protected second-round pick. A source tells The Athletic‘s Anthony Slater that the Warriors are receiving a Memphis 2026 second-rounder, top-42 protected, from Utah in the deal, which clears up a needed roster spot. The Jazz are acquiring a combination forward who adds depth to their rotation. Paschall wanted to unite with childhood friend Donovan Mitchell with the Jazz. The Athletic first reported Utah’s interest in Paschall. — Tony Jones & Anthony Slater

Hearing the most likely outcome is that the Spencer Dinwiddie sign-and-trade becomes part of the Russell Westbrook trade. That would make it, at minimum, a four-team deal (Nets, Lakers, Wizards, Pacers) that includes a sign-and-trade, base-year compensation and the luxury-tax apron, and there may very well be a fifth team involved to drop off unwanted salary. Fasten your seat belts, cap guys; it’s about to get crazy out there.

Fred Katz: It’s truly amazing how one guy can hold up an entire roster-building process. The Wizards are still trying to figure out how a Dinwiddie sign-and-trade could work, which means they haven’t been able to sign one player since the start of free agency. A Dinwiddie contract could potentially be large enough that it could push them right up against or even (depending on what a hypothetical sign-and-trade looks like) over the luxury-tax line. Because of that, the Wizards don’t know if they’ll be able to use the midlevel or biannual exceptions. They can’t go after positional needs. They’re waiting to see how they can make this work. And remember, Washington has one of the league’s least-balanced rosters, devoid of playmakers (only Bradley Beal and Aaron Holiday fit that description), missing defensive-minded perimeter players (only Kentavious Caldwell-Pope), stocked up on forwards who aren’t full-time wings (Rui Hachimura, Davis Bertans, Corey Kispert, Deni Avdija, Kyle Kuzma, Isaiah Todd, Chandler Hutchison) and with three centers who command playing time (Thomas Bryant, Montrezl Harrell and Daniel Gafford). Ensuing trades will have to happen, even if the Dinwiddie one goes through. No matter how this goes, it will be interesting.

(Photo: Tommy Gilligan / USA Today)

The Hawks should front-load the money in John Collins’ five-year, $125 million deal. The Hawks are $36 million from this year’s luxury tax lines with 14 contracts signed and half their MLE committed, so a number for Collins around $28.5 million won’t hurt them. (On a standard deal with 8 percent raises rather than 8 percent declines, he’d start out closer to $21.5 million).

In future seasons, however, Trae Young’s supermax extension and possible paydays for Kevin Huerter, De’Andre Hinter and Onyeka Okongwu could make this a much more complicated dance. Next season is likely to land in the tax no matter what, but declining money for Collins in the out years could ease the sting of paying the rest of Atlanta’s cohort of quality young players, and maintain flexibility to make other additions as needed.

Being a tougher team remains the theme as the Kings have reached an agreement with guard Terence Davis. He averaged 11.1 points in 27 games with the Kings after being acquired in a trade with Toronto in March. He’s only 6-foot-4, but was a good fit with helping to defend bigger wing players, which was a problem for Sacramento most of the season. The backcourt now includes De’Aaron Fox, Buddy Hield, Tyrese Haliburton, Davion Mitchell and Davis. Hield has been the subject of trade talks and still could be dealt.

Free agent Victor Oladipo has agreed to a deal to return to the Miami Heat, sources tell The Athletic. Oladipo will eye 2022 free agency to return to the market and sign a big contract once he’s fully healthy. Oladipo, 29, had season-ending surgery on his quad tendon in May. Miami will retain Oladipo’s Bird rights, allowing it to find the means to sign him again next offseason.

(Photo: Marta Lavandier / Associated Press)

In this special edition, David Aldridge, Marcus Thompson, Dave DuFour and Seth Partnow go through all of the big moves during the second day of free agency, plus winners/losers, what the Pelicans are doing and more.

LISTEN HERE

Free-agent center Enes Kanter has agreed to a one-year deal with the Boston Celtics, sources tell The Athletic. Kanter returns to Boston to compete in the Eastern Conference title race. He averaged 8.1 points and 7.4 rebounds per game for the Celtics in 2019-20.

Jared Weiss: The Celtics and Enes Kanter are working out a deal for likely a portion of the MLE, league sources tell The Athletic. Salary is still being figured out as the team settles its cap situation.

Frontcourt help is on the way to Chicago after the Bulls and Tony Bradley agreed to a two-year contract, according to multiple reports. Bradley, 23, was the 28th overall pick in 2017 and spent his first three seasons in Utah before splitting last season in Philadelphia and Oklahoma City. In one of the Bulls’ worst losses last season, a 22-point home defeat against a Sixers squad playing without Joel Embiid and Ben Simmons, Bradley scored 14 points on 7-of-7 shooting with five rebounds and three blocks. The 6-foot-11 center is averaging 5.4 points and 4.8 rebounds over his 112-game career. As the Bulls’ extreme makeover continues, Bradley will now supply much-needed depth up front, serving as the backup to All-Star center Nikola Vučević.

» John Collins and the Hawks have agreed to a five-year, $125 million contract, The Athletic has learned. Collins informed the Hawks late Tuesday night he was going to sign the deal, according to our Jeff Schultz.

» Kemba Walker is finalizing a contract buyout with the Thunder, and the New York Knicks will sign the four-time NBA All-Star as a free agent, sources tell The Athletic‘s Shams Charania.

Mike Vorkunov: The Knicks got their point guard after all, and it’s a bit of a bombshell. They’ll bring in Walker, who just orchestrated his exit from Oklahoma City and is coming to New York after he takes a buyout and clears waivers, league sources confirm. That changes the nature of this offseason for New York. Now the Knicks can slot Walker into the starting lineup and have Immanuel Quickley and Derrick Rose off the bench. There are obvious concerns about Walker’s knee, since it did take a toll on his last season in Boston, but at the price they’re likely to sign him, this seems like a good opportunity to get a very good player, if healthy, at a good price.

With the Thunder buying out Walker, it closes the loop on OKC’s Al Horford transactions. They ended up acquiring three first-round picks for him in total over the lifespan of three deals that involved Horford or the first-round pick he brought back from Boston. Not too bad. Not too bad at all.

John Hollinger: Here’s what I’m wondering about Walker’s buyout: Will the Thunder even save any money out of this in 2021-22? (They certainly will save some in 2022-23.) Oklahoma City is $15 million below the league salary floor at the moment, with a full roster, and any savings from the Walker deal will only increase that distance. Teams below the floor at the end of the season must pay the difference to the players on their year-end roster. While there certainly is plenty of time for the Thunder to take more contracts into their extensive cap space (in return, of course, for even more draft picks), the Thunder had the same strategy a year ago and still were nearly $4 million below the line; they ended up signing Gabriel Deck in the final days of the season to bridge the gap.

I talked to Steph Curry after he agreed to a four-year, $215 million contract extension with the Warriors that will lock him up with the team through the 2025-26 season.

Curry wasn’t thinking about how much his bounty could be if the NBA were a free market. He was, instead, a bit stunned by the numbers and humbled by the position he’s in. As much as anything, a second max contract is more validation for his approach to basketball, to his career, to life.

“It’s dope to think about what has all transpired in the last 12 years,” Curry said, “where we currently are and what we’re trying to do with this championship window that we have. Thinking about being in the Bay for another five years, taking me to 38, it checks all the boxes in terms of what I’m trying to do with my career.”

My one on one with Steph is now live at The Athletic.

We’d all been waiting for it… that one moment when a free agent deal comes through that just leaves you absolutely slack-jawed.

Usually the strongest bursts of irrational exuberance come right out of the gate, but not this year. Even with a historic tsunami of contract agreements in the opening hours of free agency, none bowled us over with a truly stupendous overpay.

That is, until the Bulls made a deal for DeMar DeRozan. This was the moment we’d been waiting for, and while we were staring expectantly at the Knicks and Kangz to entertain us, it instead was the Bulls who came out of left field and surprised us.

The agreement on Tuesday will pay DeRozan the fairly staggering sum of $85 million over three years, and cost the Bulls a first-round pick and two second-round picks, and surrendering big man Thaddeus Young. Al-Farouq Aminu’s fungible $10 million contract also goes to San Antonio as part of the deal.

My full breakdown of the deal is now live at The Athletic.

In signing the 6-foot-7 Georges Niang, the Sixers added a reliable spot-up shooter to their rotation, Niang shot 43.7 percent on catch-and-shoot jumpers last season for the Jazz, according to Synergy Sports, which was good for an adjusted field goal percentage of 65.3 percent and a 1.306 points per play, which ranked in the 90th percentile leaguewide. The 27-year-old isn’t going to give the Sixers much of anything off the dribble, as he’s mostly relegated to spot-up shooting and running in transition, but he’ll fit in and help space the floor alongside of Joel Embiid. One key question is what exception the Sixers used to sign Niang, as while the two-year, $6.7 million contract could theoretically fit into the league’s bi-annual exception. If the Sixers did use that, it would hard-cap them at the $143 million apron threshold.

» Free-agent guard George Hill plans to sign with the Bucks after clearing waivers and the opening of league year Aug. 6, sources tell The Athletic‘s Shams Charania. The veteran PG is set to return to Milwaukee after a season in Oklahoma City and Philadelphia.

» Georges Niang has agreed to a two-year deal with the Philadelphia 76ers, league sources tell The Athletic‘s Tony Jones.

Eric Nehm: While it will not replace P.J. Tucker, who took his talents to South Beach, adding Hill will certainly help balance out the Bucks roster slightly after the team’s early signings focused on bigger wings and big man Bobby Portis. Hill could end up being particularly helpful early in the season as the Bucks try to give Jrue Holiday more rest after an eight-month marathon season that is still going in Tokyo at the 2020 Olympics. Despite a down year in Oklahoma City and then Philadelphia, Hill knows the Bucks’ coaching staff and best players well, which should help him contribute quickly. It will be interesting to see if this signing requires part of the taxpayer midlevel exception and what that means for the rest of the Bucks’ offseason moves.

MORE FREE-AGENCY NEWS

As the Bulls continue to spend money like Jerry Reinsdorf got “The Last Dance” residuals and the Heat do their usual thing and the Pacers hire a coach whom the players might like, it’s becoming more and more clear the Eastern Conference is going to be very competitive next season.

The Knicks’ big addition was Evan Fournier, who they hope will bring scoring and playmaking from the wing. They chose to run it mostly all back — though letting Elfrid Payton walk can be seen as addition by subtraction — and will rely on internal development to power up a team that took the fourth seed last season. But it’s hard not to think that they project no better than sixth in the East right now, putting them close to the Play-In Tournament and the possibility of one-and-done dread.

The Lakers’ moves have slammed the door shut on any possible return for Dennis Schröder. I had wondered if the Lakers letting Alex Caruso walk might have signaled that they would work something out to bring Schröder back on a short-term deal in a sixth man role. Obviously, that would have required a certain level of sacrifice from Schröder, who would be taking a demotion and a short-term deal to try to rehab his value. But nothing available is going to get him close to that four-year, $84 million contract extension he turned down midseason. So maybe a return from Schröder was far-fetched once the Lakers landed Russell Westbrook, but I could have at least talked myself into it.

Now that decision on the extension looks like an all-time blunder for Schröder, whose options are dwindling as only the San Antonio Spurs and Oklahoma City Thunder still have cap space. Otherwise, Schröder could maybe hope to latch on for the midlevel exception somewhere. That’s a long way from the $100 million deal he was looking for. Schröder wanted to roll the dice in free agency, and this is what that risk can look like.

(Photo: Kirby Lee / USA Today)

Re-signing Talen Horton-Tucker, which the Lakers have reportedly agreed to, was crucial for the Lakers after losing Alex Caruso and given the remaining options in free agency. His role should grow considerably next season, potentially as L.A.’s starting shooting guard — depending on his 3-point improvement — or sixth man.

Kendrick Nunn also has agreed to a two-year, $10 million deal, according to our Shams Charania. I really like the Nunn signing for the Lakers. Shores up the backup point guard spot and gives the Lakers some extra juice offensively. They’ve now added five players who shot 38 percentor better on 3s last season: Wayne Ellington, Kent Bazemore, Carmelo Anthony, Malik Monk and Nunn.

The Lakers’ new projected depth chart:

Point guard: Westbrook/Nunn

Shooting guard: Ellington/THT/Monk

Small Forward: James/Bazemore/McKinnie

Power forward: Davis/Ariza/Anthony

Center: Gasol/Howard

Think Ellington starts for spacing purposes, but Bazemore and THT have cases.

Shams Charania: The Chicago Bulls are finalizing a sign-and-trade deal with the San Antonio Spurs to acquire guard DeMar DeRozan for Thaddeus Young, a future first-round pick and two second-round picks, sources told The Athletic on Tuesday. DeRozan will sign a three-year deal worth more than $85 million, per sources.

John Hollinger: League source says the protection on the first-round pick from Chicago in the DeMar DeRozan trade will be top-10, then top-eight, then top-eight. It conveys two years after the first-round pick the Bulls owe to Orlando, which conveys anywhere from 2023 to 2025 or turns into two seconds. Most likely, the Spurs will get a first-round pick in 2025.

Seth Partnow: With the Bulls sending multiple picks and a still-useful player on an expiring contract in Thad Young to the Spurs for the right to pay DeMar DeRozan around $27 million per year, we’ve found my least favorite deal of this free-agency period.

Darnell Mayberry: I see your beef, Seth, and on behalf of suffering Bulls observers everywhere, DeRozan sure beats watching the product of the past four seasons. The Bulls vowed to get relevant again when a new management team took control in 2020. Whether a Lonzo Ball, Zach LaVine, DeMar DeRozan, Patrick Williams, Nikola Vucevic core gets them there, we can debate. But it’s a step. And it’s one this franchise sorely needed.

It appears we have a John Collins waiting game unfolding in Atlanta.

As has been reported elsewhere, the Hawks have a very healthy offer out to their restricted free agent that has yet to be accepted. Per sources with knowledge of the situation, it’s for five years and $125 million.

So, why hasn’t Collins agreed to re-sign yet? Because as was the case last offseason, when he turned down a $90 million extension and wasn’t shy about the fact that he saw himself as a maximum salary player, he clearly sees his value differently than the Hawks. Again.

Color me confused.

This deal, if accepted, would not only be substantially more than what he was offered previously but would be the biggest yet on the 2021 free-agency market from a lump sum standpoint (Chris Paul’s $120 million deal with Phoenix would be second). In terms of average annual salary, the $25 million figure would be the third-highest (behind Paul’s $30 million and Kyle Lowry’s $30 million with Miami; Utah’s Mike Conley would be right behind Collins at $24.1 million).

That’s some big-time cheddar for a player who averaged 17.6 points and 7.4 rebounds per game in the regular season, 13.8 points and 9.5 rebounds in the playoffs and — to his credit — was a pivotal piece of the team that shocked us all by getting to the East finals. It’s nowhere near the max deal that Trae Young finalized on Monday night, or that Collins himself could receive, but it’s still very substantial.

What’s more, it remains to be seen where he might be able to get an offer sheet that’s any bigger. According to our in-house capologist, Danny Leroux, only Oklahoma City and San Antonio still have more than $20 million available in cap space. There also are no indications that either team is planning to add Collins. The Hawks, sources say, want to keep Collins and aren’t interested in sign-and-trade options at this time.

So … we wait.

The Warriors and guard Stephen Curry have agreed to a four-year, $215 million extension that will put him under contract through the 2025-26 season, sources confirmed to The Athletic on Tuesday. He is the first player in NBA history to secure two deals worth at least $200 million.

Marcus Thompson II: Curry’s extension puts him at $261 million over the next five years, an average salary of $52.2 million. The next highest is … wait for it … Jimmy Butler with an average salary of $46.7 million.

Taj Gibson is back, a league source confirmed, and Tom Thibodeau is probably growling with happiness. The Knicks brought back their warhorse big man on a one-year minimum deal. Gibson played well for New York last season and was their starting center by the end of their playoff run. He, Thibodeau and Derrick Rose are lifers together, so the Knicks brought the band back together. Gibson is a big fan favorite, a great locker room presence and still a contributor at 36.

The Kyle Lowry sign-and-trade to Miami isn’t in doubt, but it appears the reason it hasn’t been officially completed yet is that Toronto is now trying to re-home Goran Dragic. In statements to the media, Dragic expressed a desire to join the Mavericks and play with Luka Doncic, something Dallas is known to be interested in as well. To join as a third team in that deal, Dallas would have to send at least $14.4 million in salary to Toronto, something most easily done by combining Dwight Powell and Willie Cauley-Stein. But that’s also where it gets complicated.

Dallas wouldn’t want to do that because Powell is beloved around the organization, and losing two centers in the same transaction would thin the team’s depth. The Mavs also don’t want to replace Cauley-Stein with one of their prospects in Josh Green or Tyrell Terry. But Toronto likely views Dragic, a proven veteran on an expiring deal, as a positive asset. Dallas wants him, so why shouldn’t it give something up? That’s the current limbo it’s easy to imagine both teams in right now. One possible solution is Dallas finding an expendable player Toronto does want and using a recently acquired trade exception (TPE) to bring something more conducive to the Raptors’ likings.

No, it’s never easy to say goodbye to a player who has so thoroughly charmed his team’s fan base, but it’s the cold, hard job of a front office to cut through all of that and separate the sentimentality from on-court production and value. This is what makes the Lakers’ apathy toward re-signing Alex Caruso so surprising. The surprise was not only that the Lakers were unable to re-sign Caruso, who was an unrestricted free agent, but also the price point at which he went to the Bulls combined with the Lakers’ apparent disinterest in even trying to compete with that offer.

There are many initial thoughts on the Sixers and Andre Drummond agreeing to a one-year, minimum contract. The first is amusement. There is probably not a single player that Joel Embiid relished beating and then trolling in his younger days more than Drummond. Now they’re on the same team. The second thought is that, for the minimum, it’s a value signing. Drummond has his flaws, but he’s still an incredible rebounder and can contribute some offense from the backup center spot. Finally, the fit here seems a bit clunky. After last season, the Sixers should have learned that they need to be able to play different styles behind Embiid. Perhaps they think second-year player Paul Reed is ready for some small-ball minutes, but Drummond neither switches nor stretches the floor. Playing him with Ben Simmons, for instance, would seem like a no-go.

(Photo: Bill Streicher / USA Today)

Brooklyn’s Sean Marks said he wanted frontcourt depth, and he gets some in James Johnson, a 12-year veteran who can help the Nets off the bench. The Nets are Johnson’s fifth team in the past three seasons, so he’s a bit of a journeyman, but he does a little bit of everything and has the defensive versatility the Nets like. He’s also a capable ballhandler.

Sean Marks must love Bruce Brown right now. Instead of putting the Nets in a position where they might have to decide whether or not to match another offer for him, Brown accepted his $4.7 million qualifying offer to return to Brooklyn. Brown emerged as a breakout player for the Nets last season, as he turned into a 6-foot-4 short-rolling undersized center who killed defenses with his floater. Brown’s niche made him a hard player to replace and he’s betting on himself this next season in order to get paid next year. Something to watch: Jevon Carter came back in the Landry Shamet trade and appeared to be insurance in case Brown left. Does he stick around and serve as the Nets’ third-string point guard behind James Harden and Kyrie Irving? Or are there other plans for him?

The Warriors are signing Nemanja Bjelica on a one-year veteran minimum, sources confirm. Stretch big who should fit well next to Draymond Green. They still have the full taxpayer MLE, as Patty Mills remains on their radar.

The Hawks are still waiting on restricted free agent John Collins, who has been waiting for a max/near-max offer sheet that may not be there. Potential suitors like the Spurs and Mavericks spent big on the first day of free agency. Several teams like Collins as a player, but they don’t view the power forward at the same dollar level that his camp does. So this bodes well for his return to the Hawks, probably for a contract in the $100-$110 million range for four years. Collins’ return would allow the Hawks to bring back the same core of players who led the team to the Eastern Conference finals with a couple of additions.

Rudy Gay is signing a two-year, $12.1 million deal with the Utah Jazz, with a player option, his agents Raymond Brothers and Sam Permut tell The Athletic.

Sources say the Warriors have hope with free-agent guard Patty Mills, the longtime Spurs reserve. He figures to be a difference-making fit. And if Jazz forward Joe Ingles is indeed available for trade, sources say the Warriors do have interest — just no good way to get him.

Team I’ll be watching today: Charlotte. The sign-and-trade of Devonte’ Graham potentially sets up some other options for the Hornets; they can use $15 million in cap room or put together a more convoluted sign-and-trade with Graham’s outbound salary that returns a player like Lauri Markkanen, or do some combo of each. One way or another, they need to get another guard and another rotation-caliber big.

As I noted yesterday, the best pathway to a Spencer Dinwiddie sign-and-trade for the Wizards is by lumping him into the Russell Westbrook trade with the Lakers. Routing, say, Kyle Kuzma directly to Brooklyn eliminates any aggregation issues, and allows the Wizards to trade a $13 million player for a $20 million player, which they couldn’t otherwise. More importantly, it’s likely the only way for Brooklyn to stuff DeAndre Jordan into this, which is the only way to make the financial math work on the Nets’ part given the huge luxury tax bill they would otherwise face. The more interesting angle is what draft compensation might be involved and which direction it would be going if the Wizards are swallowing the two years and nearly $20 million left on Jordan’s deal.

Following up on Rich Hofmann’s note below, in the wake of waiving George Hill and if they also waive Anthony Tolliver and renounce Danny Green, the Sixers would have just enough room below the luxury tax apron to use their non-taxpayer MLE, their biannual exception, and sign a one-year veteran minimum contract. The 11 players under contract are very guard-heavy so one presumes at least one of these salary slots would go to a 4 or 5.

The Sixers deciding not to pick up George Hill’s $10 million option is an interesting move. Hill didn’t play all that well after the Sixers acquired him at the trade deadline, but he still had an expiring contract that might have come in handy for an in-season trade. The Sixers might save some luxury tax by making this move, but there could be another motive: Could they be planning on being hard-capped after using the non-taxpayer midlevel exception if Danny Green leaves? The attention now turns to Green’s free agency. Hill had $1.3 million guaranteed on his contract for this season.

As the dust starts to settle from Monday’s flurry of action, I expect we’ll start to see some good value deals signed by teams that were able to be somewhat patient on Day 1. Scarcity drives price, and for those organizations that were fixated on a single player, it is easy to get caught up in an escalating bidding war. For teams that have targeted a group of similar players, there will often be one or two guys who end up unsigned when the money starts to dry up, and these tend to be the best deals we’ll see in terms of production-to-contract.

Fred Katz: Before everyone gets too amped about Spencer Dinwiddie and the Wizards, a quick reminder: Dinwiddie coming to Washington is far more complicated than the two sides simply agreeing to a contract.

First, the Wizards are over the salary cap and thus would need to work out a sign-and-trade with Brooklyn, Dinwiddie’s incumbent team. Second, the Nets are well above the luxury tax and don’t want to take back a ton of money because of the piles of additional tax dollars it would cost them. Third, there is a needlessly complicated CBA quirk called base-year compensation, which comes into play when free agents receiving big raises participate in sign-and-trades. The Nets and Wizards could try to loop something into the yet-to-become-official Russell Westbrook trade to ease some of the issues. And this thing could absolutely happen. Deals tend to get done in the NBA when both sides want them to get done. But know that the Nets will want something of value back for Dinwiddie. And this will take some jumping through hoops for both teams for it to happen.

Alex Schiffer: Fred just said a lot of good stuff, so to not step on his toes but add to the Dinwiddie talk, I’ll just say: Keep in mind the Nets have been shopping DeAndre Jordan recently, and his $10 million contract could be used in this trade given the money or contracts it might take to get it done. Sean Marks said Monday that the Nets are “married to the luxury tax” but would probably prefer to send assets outbound instead of inbound.

The Oklahoma City Thunder and guard Shai Gilgeous-Alexander have agreed to a five-year, $172 million maximum rookie contract extension, sources confirmed to The Athletic. ESPN was first to report the news. The contract is worth up to $207 million if Gilgeous-Alexander is All-NBA, sources said.

Either way you cut it, Trae Young is about to be filthy rich. But a source with knowledge of his extension with Atlanta, first reported by The Athletic and finalized on Monday night, says it’s worth approximately $171 million over five seasons unless he makes one of the All-NBA teams next season or is the league’s MVP. The former is obviously far more achievable than the latter, but both are incredibly hard to pull off. If Young does, then he’ll make the $200-million plus figure that won’t be determined until the salary cap is established for the 2022-23 season.

Anyone who noticed P.J. Tucker’s latest Instagram post (check it out here) surely had questions about how and why he wound up leaving Milwaukee for a two-year, $15 million deal with Miami. There were cryptic comments made, chief among them the veteran forward writing, “Today took a hard turn on the road of my career but like my grandma used to tell me.. all you can control is what you can control.” According to a source with knowledge of the negotiations with the Bucks, the most important thing that he couldn’t control was the luxury tax.

While Tucker’s salary with the Heat might seem relatively small, all things considered, consider this math: An offer that started at, say, $7 million would have cost the Bucks approximately $23 million in tax and, thus, would mean a $30 million bill. That, above all else, is why he’s not coming back to the Bucks.

Semi Ojeleye, who is reportedly headed to Milwaukee on a one-year deal, has been one of the humblest and hardest working people the Celtics have had in years. The rare person who never complained about his constantly fluctuating role, who could be frustrated with himself but never others and always gave 100 percent. Everybody around the Celtics loves Semi.

Kyle Lowry’s departure purposely leaves the Raptors wanting an identity, which is a blessing and a curse. Lowry served as a one-man floor raiser for so many editions of the team that surpassed their predicted win total. That was great when competing for a top seed in the Eastern Conference and making deep runs into playoffs were realistic goals, but it becomes more complicated, even confusing, when Lowry is no longer quite at his peak level, and the Raptors have to properly assess a roster that is heavy on high-end supporting pieces and low on obvious franchise foundations.

Shams Charania: Free-agent center Richaun Holmes has agreed to a four-year deal worth as much as $55 million to return to the Sacramento Kings, his agency Par-Lay Sports & Entertainment tells The Athletic. Deal includes player option and trade kicker.

Jason Jones: Richaun Holmes’ returning to Sacramento means the Kings can get really busy in looking to make trades. They have their starting center back, but they still need some perimeter defenders and depth at the forward spots, which will likely have to come via trade. Buddy Hield is still a viable trade piece, as is Marvin Bagley III. The Kings agreed to acquire Tristan Thompson last week, but with Holmes and an agreement with Alex Len, it wouldn’t be a surprise if Thompson never played for the Kings.

The Warriors just watched Kent Bazemore leave for the Lakers, despite being offered more money and years to stay in the Bay Area. Bad early free-agent sign for the Warriors. They can’t even lure one of Steph Curry’s better friends back.

Sean Marks said Monday it was “no secret” the Nets wanted to re-sign Blake Griffin, and he got his wish. Griffin established himself as a reliable role player upon joining the Nets and was drawing charges at a rate that would have been the highest the NBA had in five years if his Nets tenure accounted for the whole season. Griffin was the likeliest Net to re-sign because of the fortune Detroit will be paying him this season, allowing him to take a pay cut to pursue a championship.

(Photo: Troy Babbitt / USA Today)

Sam Amick: The Lakers did a very puzzling thing today, and only time will tell if they pay a price for it in their pursuit of an 18th championship. When faced with the prospect of losing Alex Caruso, the 27-year-old guard whose Bird rights they carried and could thus pay whatever they wanted, they didn’t put up any free-agency fight en route to him agreeing to a four-year, $37 million deal with Chicago. According to a source with knowledge of the situation, Caruso’s camp went back to the Lakers after the Bulls made their offer and were told that there would be no counter.

Considering the many roster holes that remain around the LeBron James/Anthony Davis/Russell Westbrook superstar trio, with only the taxpayer midlevel exception ($5.9 million) and minimum-salary slots at their disposal, it’s quite a surprise to hear they didn’t make a more spirited push — or any push, really — to hold onto Caruso. Forget the part about him being a fan favorite — that only matters, well, to the fans. But on this team that had such a strong defensive identity, he had grown into a very strong perimeter defender and a valuable rotation player (21 minutes per game in the regular season; 20.1 in the first round against Phoenix).

John Hollinger: It appears the Bulls can execute a sign-and-trade for Alex Caruso that keeps their full midlevel exception available and generates an $4.1 million trade exception for the Lakers. With the exception that is created by the sign-and-trade of Daniel Theis to Houston, the Lakers can sign Caruso for the same amount as Theis’ 2021-22 salary plus $100,000, which is exactly what would be needed to generate a four-year, $37 million for him. The only hiccup is getting the Lakers to play ball, but that shouldn’t ‘t be hard since the same sign-and-trade generates a similar sized exception for L.A. … which can ride the same trade exception carousel to bring in its own player on a similar contract, although NOT via sign-and-trade due to the hard cap, and only for $4.15 million due to Caruso’s base-year compensation status. However, that number rises to a more useful $7.26 million if the Lakers can stuff a deal for an existing player contract into the same trade.

Kelly Iko: Houston gets its hands on its No. 1 target in free agency in Daniel Theis. This is now the second season in a row the Rockets have seen early success in their wish list, signing Christian Wood last year. Theis is a small-ball center that can either play alongside Wood in the starting lineup or can anchor the second unit. Head coach Stephen Silas has been contemplating playing faster and smaller, something that suits Theis’ style. He’s a smart defender, capable passer and knows where to make the best impact on the floor. As a shooter, he’ll need to improve, finishing last year at 32.2 percent from deep. Overall, smart signing and a move that still allows Houston to get creative in the market.

John Hollinger: Daniel Theis’ deal in Houston has some people wondering about the status of first-round pick Usman Garuba and when we might see him in a Rockets uniform.

Houston already has starting center Christian Wood and another first-round pick, Alperen Sengun, on hand in the frontcourt. So it didn’t seem the Rockets would need another big who could cross between four and five, especially on a deal this long (reportedly four years), if Garuba was in the immediate plan as well.

However, Garuba’s huge buyout with Real Madrid would essentially force him to play for negative money on the first year of his rookie contract if it isn’t negotiated downward. The Rockets won’t be subject to the rookie salary scale on Garuba in three years, however, and could pay to bring him over then, when Garuba will still only be 22. League sources say nothing has been determined yet,m but that the Rockets will try to bring Garuba over immediately. The Theis deal is a way for Houston to hedge its bets, yes, but perhaps not only on Garuba’s contract — it gives the Rockets two veteran bigs and allows them to bring along Garuba and Sengun at their own speed.

Losing P.J. Tucker hurts the Bucks in a number of ways. First, they lose the player who brought them their edge during their championship run. While Tucker had some warts on the offensive end, he was the heart and soul of the Bucks during the postseason. He was the one who went toe-to-toe with Kevin Durant, and he was the one who coined and embodied the Bucks “We Dogs” spirit. That will be tough to replace.

On top of the difficulty of simply replacing what he brought to the team as a player, the Bucks have limited resources to find a player of his caliber. The Bucks held Bird rights on Tucker, so they could go above and beyond in matching his salary. The money they would have used on him cannot just be used on somebody else now. This is a big missed opportunity for the Bucks.

(Kamil Krzaczynski / USA Today)

The Blazers have signed center Cody Zeller to a one-year, minimum deal to be the backup to Jusuf Nurkic, according to ESPN. Zeller will turn 29 in October and has spent his first eight seasons in Charlotte. Last season, the 6-foot-11 center averaged 9.4 points, 6.8 rebounds and 1.8 assists in 21 minutes while appearing in 48 games, 21 of them starts. He replaces Enes Kanter, who was an exceptional rebounder and efficient scorer last season but also one of the worst defenders on one of the NBA’s worst defensive teams. The Blazers still waiting to secure their top free-agent priority, Norman Powell, but only San Antonio, New Orleans and Oklahoma City have enough cap space remaining to land someone of Powell’s stature.

The Cavs now have two of their offseason goals completed but still can use their midlevel exception to sign a wing to fill a roster need. However, names that could have been in consideration flew off the board tonight, such as Reggie Bullock and Doug McDermott. The wing market that fits Cleveland’s price range continues to grow smaller.

Along with Tim Hardaway Jr., the Mavericks have reached agreements with Reggie Bullock and Sterling Brown on Monday night. They’re smart signings: high-level shooters with decent-to-good defense signing on what seems to be flexible contracts, the types of player who complement Luka Doncic and should be viable options in a postseason rotation. While Dallas still has several paths available this offseason — the Mavs are still juggling various sign-and-trade options — the most obvious one is joining the Kyle Lowry trade as a third team to reroute Goran Dragic to Dallas. The team would likely send Dwight Powell and Willie Cauley-Stein to Toronto to make the math work, although Toronto may push for more. (Josh Green, for example, would fit monetarily but is someone Dallas would be resistant to give him up.)

For the nerds who care about the granular details — I’m an even bigger one for explaining this just now — Dallas would operate over the cap in that scenario. Between Hardaway, Dragic and re-signing Boban Marjanovic, the team would move above the league’s $112 million salary cap and unlock the larger taxpayer’s midlevel exception (MLE) for Bullock as well as the biannual exception (BAE) for Brown. If that’s the route the team takes, it’s smart work from a recently revamped front office that includes cap expert Andrew Baker, who was hired just last week from Brooklyn.

The Knicks continue to act fast and furiously. They reportedly add Derrick Rose and Evan Fournier, adding scoring help in the backcourt. They’ve also pretty much spent all their cap space. Like Dom Toretto, they are choosing to live life a quarter-mile at a time. Mostly, they’ve brought back the same team that seemed to overachieve last year, without Reggie Bullock, and added Fournier as a buffer against regression. They must hope Immanuel Quickley and Obi Toppin show some growth.

Cory Joseph returning to Detroit seemed likely as the weeks went on. He seemed to enjoy his time here after the trade, and he was really good. Had to sit him to preserve the tank. Comes back at a cheaper price and will be a good mentor for Cade Cunningham and Killian Hayes.

The Lakers almost certainly have to retain Talen Horton-Tucker at this point, regardless of his salary (though he obviously has a much different skill set than Alex Caruso). They also need to retain Wesley Matthews or risk their perimeter defense slipping even further.

Law Murray: Nicolas Batum is back with the Clippers on a non-Bird two-year deal, with the second year a player option, per a source. That, combined with Serge Ibaka’s opt in, keeps the top-four bigs of last season’s team together; starters Marcus Morris Sr. and Ivica Zubac are also under contract.

Batum came to the Clippers as a bargain basement buyout signing after five years with the Charlotte Hornets. Expectations were tempered. But he was needed in a larger-than-expected role, starting for the injured Morris to begin the season. Batum fit the team so well, both on and off the floor, that he stayed in the starting lineup until Ibaka’s back injury. Even then, his shooting, decision-making, length and switchability made him an invaluable resource across multiple positions.

The postseason unlocked a version of Batum that no one had seen before, starting at center to help the Clippers get out of 2-0 deficits in both series wins against the Mavericks and Jazz. This signing, with Batum in Tokyo right now with the French national team, is a personal triumph at this stage of Batum’s basketball career as well as an endorsement of the culture the Clippers built since the start of the season.

Anthony Slater: One of the Warriors’ top free-agent targets is already off the board: Batum. Another isn’t yet. They have interest in Patty Mills as a third guard who could back up Steph Curry and play alongside him, helping space the floor. But the Lakers and Nets are also reportedly interested in him. Might come down to a chase with the taxpayer midlevel exception.

Solid business so far tonight from the Bulls. They might have the best defensive tandem at point guard in the league, and both Lonzo Ball and Alex Caruso have skill sets very complimentary of Zach LaVine’s. They still have some work to do to shore up the wing position and will require strong development from Patrick Williams in Year 2. But these have been coherent and sensible moves so far.

Bill Oram: The Lakers are reaching into their past to fill out their roster, agreeing to deals with Dwight Howard, Trevor Ariza and Wayne Ellington. Ariza and Ellington are all returning for a second stint with the Lakers while for Howard, it is his third. The Lakers are addressing some very glaring needs, both defensively and with their perimeter shooting. The Lakers entered Monday with more work to do in free agency than any other team, with as many as 11 roster spots to fill. We’re still waiting to see what happens with Alex Caruso and Talen Horton-Tucker, as well as whether there is any chance of a sign-and-trade for Dennis Schroder, but the Lakers are off and running. It goes without saying that the Lakers look just painfully old with their first additions. Of the players under contract, including these new additions, only Anthony Davis is under 30. But the Lakers are all-in on a year-by-year basis, and if LeBron, AD or Russell Westbrook isn’t healthy, the season is likely doomed anyhow.

Jovan Buha: To add to Bill’s point: Ariza (3-and-D), Ellington (elite 3-point shooter) and Howard (rim protector and rebounder) fill in nicely alongside LeBron James, Anthony Davis, Russell Westbrook and Marc Gasol (especially if the Lakers still somehow have their taxpayer MLE remaining). A solid start for the Lakers in free agency given their limited resources. They’ve bolstered their roster on both ends.

Losing Alex Caruso, however, is a tough blow for the Lakers’ defense. He’s one of the best defensive guards in the league and was probably the second-most impactful defender on the No. 1 defense in the regular season. There’s no replacing him with what’s available to L.A. in free agency.

(Photo: Mark J. Terrill / Associated Press)

Furkan Korkmaz is returning to the Sixers on a three-year, $15 million deal, a league source confirmed to The Athletic. The Sixers selected Korkmaz, 24, with the 26th pick in the 2016 NBA Draft. Korkmaz averaged 9.1 points in 19.3 minutes per game for the Sixers this past season, and after struggling from the perimeter to start his career, he has connected on 39 percent of his 3-point shots over the last two seasons, giving the Sixers a reliable, high-volume shooter off the bench.

The Sixers had full Bird rights on Korkmaz, although they got there on a rather unusual path: Korkmaz had his third-year rookie option declined in the fall of 2018, then requested a trade out of Philadelphia. A deal never materialized, and Korkmaz returned on a two-year minimum contract the following summer after the team struck out on their primary target in Kyle Korver. Regardless, having full Bird rights on Korkmaz means the Sixers did not have to use any of their midlevel exception to bring him back, allowing them to keep that to potentially use on another free agent later this summer.

Bobby Portis returning to Milwaukee on a two-year, $9 million deal with a player option in the second year is a big-time steal for the Bucks this offseason. Portis was undeniably good for the Bucks as the team’s primary big man off the bench. He put up 11.4 points and 5.2 rebounds in just 20.8 minutes per game and became one of the league’s best 3-point shooters (47.1 percent) as well as the Bucks’ most consistent bench player. His performance earned him larger contract offers from the Mavericks and Heat, per our Shams Charania, and instead, Portis chose to return to Milwaukee to help the Bucks try to defend their NBA championship. That’s a massive win for the organization and the culture cultivated by superstar Giannis Antetokounmpo.

(Photo: Ebony Cox / USA Today)

The Trail Blazers remain in a holding pattern as they await a decision by Norman Powell, who is their top priority. If Powell signs with Portland, the Blazers will have the taxpayer midlevel ($5.8 million). If he signs elsewhere, the Blazers will have the full midlevel ($9.5 million). The Blazers will be looking for small and power forwards and could be eyeing Paul Millsap, Tony Snell and Nic Batum. But again, depends on which exception they will have to offer.

Confirming the Kings and Moe Harkless have agreed to a two-year deal worth $9 million. Harkless quickly became a needed veteran presence in Sacramento and added depth to the frontcourt after being acquired from Miami in March. It’s a deal that makes sense for the Kings, who keep a vet they like who will help their woeful defense.

Alex Len is coming back to Sacramento, agreeing to a two-year deal with the Kings. He played 15 games with the Kings in 2020 before joining Toronto as a free agent last offseason and finishing the season with Washington. Len’s stay in Sacramento was brief, but the nasty disposition he brought to the court was missed by a team that was too often pushed around on defense. The Kings are adding as much toughness as possible. They’ve already agreed to acquire center Tristan Thompson from Boston, so the center position is already more physical than it’s been in years. What this means for free agent Richaun Holmes, the starting center the last two seasons, remains to be seen.

David Nwaba returning to Houston is a win for both sides. At $5 million a year, it’s a great value buy for a defensive-minded, physical wing who gave the Rockets everything he had last season, healthy or not. He returns to a group featuring physical wings in Jae’Sean Tate, Danuel House Jr. and K.J. Martin. He’ll need to vastly improve his outside shooting, finishing the year a woeful 27 percent from 3-point range, but his athleticism, work ethic and defense are needed on a young Rockets roster.

» Tim Hardaway Jr. sticking around with the Mavericks on a four-year deal was expected. He was one of the leading Sixth Man candidates and a huge boost to what the Mavs needed to do to complement Luka Doncic. Keeping him around was always going to be a priority for Dallas, and he wanted to be there. Considering this is the same money that Evan Turner received in The Great Cap Spike of 2016, the value for the THJ contract for the Mavericks is fantastic for them moving forward. Mavs grade: A-

» Chris Paul sticking around with the Suns was always going to cost them, and as the president of the players union, taking a big discount wasn’t really supposed to be on the table. While he didn’t go out there and get the full max, Paul stuck around by getting a fourth year that will take him to the age of 40 at Gordon Hayward money. That’s a win for both parties, assuming CP3’s body holds up. The Suns still have extensions for Deandre Ayton and Mikal Bridges this offseason. They kept Cameron Payne around. Maybe this contract hurts them in a couple of years, but we’ve seen “the immovable Chris Paul contract” get moved plenty of times. They’ll figure it out. Suns grade: B+

» The Utah Jazz had to make sure Mike Conley Jr. stuck around for a few reasons: 1) He’s really good, and they can’t just replace him with another dude making that kind of money. 2) They might feel they have unfinished business with him, even if they end up changing some of the other complementary players on the roster. Conley was never healthy enough to get them to where they needed to be in the postseason. Now the Jazz get to see if the core of Donovan Mitchell, Rudy Gobert and Conley can find postseason success. The money is very reasonable for his contract too. This is an all-around win for the Jazz and a smart move by Conley. Now let’s see if he can stay healthy. Jazz grade: A

» The Jimmy Butler max extension could end up being the most ridiculous signing of this offseason. Not that he’s not worthy of big money. He helped get the Heat back on the map in the national conversation, and we’ve seen the difference he can make when he’s healthy, his team is healthy and they’re all on the court together. Butler is going to be 35 years old at the end of this contract. And that’s a hard 35-year-old. That’s an “I played a long time for Tom Thibodeau” 35 years old. In the last year of that deal, he’s going to get somewhere in the neighborhood of $50 million. The contract is fine for the next two seasons. The two seasons after that? Good luck. Heat grade: C+

As players begin to agree to terms with teams, including several point guards, it’s unclear where exactly the market is for Lakers free agent point guard Dennis Schröder. If Schröder can’t find a suitor in his price range (he’s seeking a four-year, $80-plus million deal), a sign-and-trade to a team without enough cap space to sign him outright —which could net the Lakers a rotation player or two — would make sense and benefit Los Angeles.

One person who I’d bet is thrilled about the new salary-cap projection for the 2022-23 season, which just came in at $119 million, about $4 million above the previously projected number: Bradley Beal.

If Beal signs a five-year, max contract next summer, which the Wizards are likely to offer him as long as he wants to stay in Washington, he stands to make even more money. The deal would come out to $241.6 million over the five seasons with — no, this is not a typo — a $55 million player option tacked onto the end of it.

Kyle Lowry is headed to the Miami Heat, the point guard announced Monday.

Eric Koreen: While we wait for the full details of the detail that will end Lowry’s nine-plus year stint as a Raptor, a little context. First off, Lowry’s time with the Raptors seemed poised to not even make it past 18 months, at least until the Knicks backed out of a trade that would have sent him to New York in late 2013, indirectly leading to the Raptors’ run of consistency which peaked, of course, with the 2019 title.

Lowry leaves the Raptors as the franchise leader in assists, steals, 3-pointers, triple-doubles (he has 13 more than Damon Stoudamire, who is second) and win shares. He is second in games and minutes played. I can’t prove it, but I’m just gonna say it: He leads the Raptors in technical fouls and charges drawn too. He has defined the Raptors for so long that it is kind of hard to remember that he was plan B when he was acquired in 2012, a player the Raptors went after once Steve Nash snubbed them. All things considered, it was an effective backup plan.

The Knicks made two quick splashes in free agency, and they did it by bringing back two key contributors from last season’s surprising 41-win team. They reportedly gave a three-year, $30 million deal to Alec Burks and a three-year, $32 million deal to Nerlens Noel.

The Knicks came into free agency with about $50 million in cap room to spend, and they’ve already spent about 40 percent of it. Burks gives the Knicks shot making and playmaking, and he thrived as a scorer off the bench. Noel came to be a defensive cog once Mitchell Robinson went down. But the price increased twofold on them — they made a combined $11 million last season.

What’s interesting now is what happens with Robinson. The Knicks picked up his fourth-year option at $1.8 million, but they’re paying Noel starting center money. The Knicks can let Robinson play on his meager deal, they can extend him and give him a raise, or they can deal him. His cheap contract is a valuable asset and could allow them to get help at another position, especially since another team could slide his contract into its cap sheet easily. The Knicks are only paying $12.5 million total for their centers with Robinson and Noel but it does make you wonder if they really signed Noel to be a $10.7 million-a-year backup.

Zach Harper: The Bulls landing Lonzo Ball for Tomas Satoransky, Garrett Temple and a second-round pick (more details below) is exactly the type of move they needed to do. Some may bristle at $85 million for Ball over four years, but this is right in line with what he should be getting. He’s an excellent guard, should thrive on both ends of the floor, and he’s become a reliable shooter. Ball made 37.6 percent of his 3-pointers the last two seasons, and we’re talking about 850 attempts during that time. Last season he finally jumped from a 48.7 percent free-throw shooter his first three seasons to 78.1 percent at the line. There are still things he needs to improve upon, but he doesn’t really turn the ball over and he’ll complement Nikola Vucevic and Zach LaVine perfectly. Bulls grade: A

Darnell Mayberry: Perhaps the best part of the Bulls’ acquisition of Lonzo Ball is how they got him. Forever it seemed the obvious path was a sign-and-trade using Lauri Markkanen. But for the team’s front office to snag Ball while relinquishing only Tomas Satoransky, Garrett Temple and a second-round pick, well, that’s a steal. As it stands, Chicago still has Markkanen to dangle in sign-and-trade purposes for continuing to build out its roster. Nice maneuvering by Bulls chief basketball executive Arturas Karnisovas and his staff.

Transactions of note from Night 1 of free agency via The Athletic‘s Shams Charania:

» Lonzo Ball has agreed to a four-year, $85 million deal with the Chicago Bulls, CEO of Klutch Sports Rich Paul told Charania. The Bulls are sending Tomas Satoransky, Garrett Temple and a second-round pick to New Orleans for Ball.

» Free agent Tim Hardaway Jr. has agreed to a four-year, $72 million deal to return to the Dallas Mavericks.

» Free agent Mike Conley Jr. has agreed to a three-year, $68 million deal to return to the Utah Jazz.

» Free-agent forward JaMychal Green has agreed to a two-year, $17 million deal to return to the Denver Nuggets. Deal includes a player option in Year 2.

» Five-time NBA All-Star Jimmy Butler is expected to agree to a maximum contract extension with the Miami Heat when the league year opens on Aug. 6, sources tell Charania and Jon Krawczynski.

» Restricted free agent Jarrett Allen has agreed to a five-year, $100 million deal to re-sign with the Cleveland Cavaliers.

» T.J. McConnell has agreed to a four-year, $35 million deal to return to Indiana.

ADDITIONAL INSIGHT

David Aldridge: Temple is going to the New Orleans Pelicans on a three-year deal, per a league source. The first two years are guaranteed at $5 million per year. The 35-year-old Temple has been one of the best locker room guys and respected leaders among his peers throughout his 11-year NBA career, which has included stops in San Antonio, Sacramento, Washington, Houston, Milwaukee, Charlotte, Memphis, Brooklyn and the Clippers.

Will Guillory: Going from Lonzo Ball to Tomas Satoransky is …. not exactly the way you want to start one of the most important seasons in franchise history. I still think there’s more to come from New Orleans. The Pels have a ton of cap space and draft capital. I would expect David Griffin to make some more noise in the market at some point. The Pels are in desperate need of a big splash.

Tim Cato: The Mavericks had become certain they wanted to retain Tim Hardaway Jr. in the days leading up to free agency, something influenced by the team’s reading of the free-agency market and the potential for more lucrative offers coming his way from Detroit or Miami. As Charania reports, he’ll return to the Mavericks on a four-year, $74 million deal, indicating his desire to continue playing next to Luka Doncic — a pretty good business decision, if you ask me — rather than pursue $80-plus million offers elsewhere.

While the move cuts into the team’s cap space, Dallas can still open up $10 to $15 million in cap space depending on which roster maneuvers the front office makes. The Mavs have also explored cap-clearing trades involving Dwight Powell, as first reported by Bleacher Report, but any such deal would hinge on finding the right suitor and whether they even need more space to sign offseason targets. (As it stands right now, the Mavericks could end up operating as an over-the-cap team to unlock a larger midlevel exception.)

Kelsey Russo: The Cavs check another box in their offseason to-do list and re-sign Jarrett Allen to a five-year, $100 million contract, according to our Shams Charania. When the Cavs first traded for Allen in January, the front office was aware that he was up for a large contract. They watched throughout the second half of the season how he fit with their young core and saw potential as their center for the future. That’s why they extended a qualifying offer to make him a restricted free agent, so they could match any qualifying offer that came in. Then, when Isaiah Hartenstein declined his player option and the Cavs did not extend him a qualifying offer, it seemed as though this was the route the Cavs were heading. Even after they drafted Evan Mobley last week, there is belief that they can play off each other where necessary because of Mobley’s passing ability, and now they have a 7-foot center to play the full 48 minutes of a game.

James L. Edwards: The Pistons continue to address 3-point shooting with the addition of Kelly Olynyk. Deal feels a little long (three years, $37 million), but he certainly fits the roster.

Seth Partnow: One takeaway from the first barrage of deals is those which have seen a player change teams have been, to my eyes, better value than those for players being re-signed, generally speaking. Perhaps an example of what John Hollinger has dubbed “The Bird rights trap” in action.

“I’m told John Collins and the Atlanta Hawks are not close to an agreement,” our Shams Charania said today on Stadium’s NBA Free Agency Show.

Collins, 23, is a restricted free agent.

“He will be sought after. There’ll be multiple suitors still … vying to see if they’re going to be able to get their hands on him.”

Shams also added that sources say Spencer Dinwiddie will meet with the Wizards at the outset of free agency.

Fred Katz: Dinwiddie is unquestionably one of the Wizards’ main targets heading into the signing period. Not only do they not have a starting point guard; they barely have playmakers at all. Aaron Holiday and Bradley Beal are the only two guards currently on the roster. Second-year forward Deni Avdija is arguably the second-best creator right now. They need someone who can facilitate. Bringing in a Dinwiddie type would certainly help. Of course, there are financial complications; the Wizards are over the salary cap, so this would have to be a sign-and-trade. The Nets, meanwhile, are far enough above the luxury-tax line that they’re not trying to take on extra money needlessly. We’ll see what happens.

Sam Amick: So about John Collins. As I wrote this morning, sources say the Hawks have every intention of matching the restricted free agency money that might come Collins’ way. But Shams reported this afternoon that the notion of the two sides coming to terms without Collins seeking an offer sheet elsewhere is looking unlikely, meaning this situation might wind up drawing out a bit in the coming days. Still, the fact remains that the Hawks — who greatly value Collins and have no plans of losing him — can control their own destiny here.

(Photo: Brad Penner / USA Today)

Zach Harper, Jay King and Tray Edwards analyze/dissect how Russell Westbrook will fit in with the Lakers and LeBron James, the race to get Kyle Lowry, DeMar DeRozan and much much more.

LISTEN HERE

There is some hoopla about DeMar DeRozan reuniting with Dwane Casey in Detroit, and I just don’t see it. He’ll command most, if not all, of the free cap space. And, additionally, DeRozan has insisted that he’d like to win. The fit just doesn’t make sense.

(Photo: Rich Pedroncelli / Associated Press)

With the free-agent starter’s gun about to go off, the two big numbers I’m tracking for the Miami Heat are 28 and 7.

First, 28, as in $28 million, the approximate amount of room below the luxury-tax apron Miami would have to both re-sign Duncan Robinson and execute a sign-and-trade for DeMar DeRozan. That number assumes a sign-and-trade of Goran Dragic and Precious Achiuwa for Kyle Lowry, and Lowry making the maximum possible (three years, $87 million) on such an exchange. It also assumes Tyler Herro is staying put.

Keeping restricted free agent Robinson won’t be the challenge, with a likely first-year salary in the mid to high teens; it’s squeezing a fair salary for DeRozan into that exchange (and figuring out what compensation would work for San Antonio, with the Heat light on future draft picks) that is the rub. There are some subtle cap tricks Miami could do to very slightly extend this number – such as sending cash to another team for the rights to a drafted European and singing that player to a rookie minimum deal, which would add about $720,000 to their balance. But in terms of wiggle room, generally, this apron is more like Kevlar.

Seven, meanwhile, is the number of minimum contracts Miami would need to sign to fill out the roster if Robinson and DeRozan vacuum up all that wiggle room. The Heat would have no ability to use their midlevel exception, for instance, since it would take them over the apron. Miami would have only seven players under contract for next year in this scenario (Lowry, DeRozan, Robinson, Herro, Jimmy Butler, Bam Adebayo and KZ Okpala); it would be required to carry at least 13 players on opening day and 14 soon thereafter.