Free Agency Week 1 and Week 3 news update

This year’s offseason has been largely dominated by talks of the first and second apron. It’s a new rule in the newly signed Collective Bargaining Agreement that began during this offseason. To specify it restricts a teams action who exceed a specific number of salary. Before we get into free agency recap.  I’ll provide a  quick breakdown of the rules associated with the luxury tax, first apron and second apron in the new CBA. 

The salary cap for the NBA acts as a “soft cap”, meaning teams are allowed to go over the salary cap threshold, but must spend at least 90% of its salary cap prior to the start of the 2024-2025 NBA season. The salary cap for this season is set at 140.58 million dollars. Teams must spend 90% of this number prior to the start of the NBA season. The Tax Threshold is set at 170.8 million dollars. This means if a team goes over this number they will pay what is called a luxury tax. The luxury tax is then collected at the end of the year and split 50-50 between the NBA and the teams who did not pay a luxury tax. For example, this past season teams who did not go over the tax threshold were paid an extra 11.96 million dollars. The first apron is set at 178.7 million dollars. This is what has changed to years prior. Before teams could go into the luxury tax without penalty. All they needed to do was pay the luxury tax and they could fill out their roster with some minor limitations. Now with the new CBA they aren’t allowed to. First apron restrictions included the following:

Teams are not allowed to acquire a player in a sign-and-trade.

Teams are not allowed to use pre-existing trade exceptions. 

Not allowed to take back more money in a trade. 

Not allowed to sign a player waived during the regular season that had a pre-existing salary of at least 12.9 million dollars. 

Teams are allowed to use a trade exception created from a new trade. 

Teams are allowed to use the 5.2 million tax mid level. 

All of these rules take place when a team goes over the 178.7 million first apron threshold. The second apron is at 189.5 million. If a team goes over this amount of salary the same rules apply from the first apron and the ones added below:

Teams are not allowed to aggregate contracts sent out. 

Teams are not allowed to send out cash

Teams are not allowed to sign and trade your own free agent if the incoming salary exceeds the 2nd apron

Teams are not allowed to use a trade exception created by a sign and trade, however they can use it if created by a normal trade. 

If a team finishes the 2024-2025 season in the second apron then their 2032 first round is frozen and their own first round pick is moved to 30th in the next draft. A pick being frozen means teams will not have access to trade their 2032 first round pick. 

Hopefully the rules above will help fans understand why their teams made specific moves throughout the past week. I will try my best to explain anything important with salary involving some signings. 

Sunday June 30th 

Max Christie signed with the Lakers for 4 years 32 million. He’s been a good young player for the Lakers of recent and it’s a good deal for both sides. They’ll look for him to develop and contribute more to the rotation this upcoming season. 

Chris Paul was waived by the Warriors for his 30 million non- guaranteed contract. Seems like the Warriors couldn't find the necessary trading partner to send Paul to another team. They also would’ve had to match salaries as they cannot take back more in a trade. Paul then signed with the Spurs for 1 year worth 11 million dollars. A great pick up for the Spurs. This move will help Wembanyama get the ball in better scoring positions and Stephon Castle gets to learn from a legendary point guard.  

Luke Kornet signed a 1 year deal to return to the Celtics.

Omer Yurtseven was waived by the Jazz.

Andre Drummond signed a 2 year 10 million deal to join the 76ers. Gives the team more depth at center and another veteran for the playoffs. 

Kentavious Caldwell-Pope signed with the Orlando Magic for 3 years 66 million. The last year includes a player option. Overall this is a great pickup for the Magic it keeps their defensive identity and increases their perimeter shooting, an area they struggled with last year. The Magic had 52 million dollars of cap space going into free agency. Move also shows the Denver ownership not willing to go into the luxury tax as well. Denver already has three players close to max contracts in Jokic, Murray, and Gordan. 

Cade Cunningham and the Pistons agreed to a rookie max extension for 5 years 226 million dollars. He’s the current face of the franchise and the contract is much deserved given his production over the beginning of his career. 

Wizards signed Jonas Valanciunas to a 3 year 30 million dollar deal. He’ll allow rookie Alex Sarr to play more on the perimeter and gives them a starting center on a good value contract. 

Alex Len signed a 1 year 3.3 million dollar deal with Kings right before midnight on the east coast.. 

Monday July 1st. 

Paul George signed a 4 year 212.5 million dollar deal with the 76ers. He joins Joel Embiid and Tyrese Maxey to form the newest big three in the NBA. Philadelphia had been targeting a big time free agent signing as they had been saving cap space for this year’s free agency. They are now officially all in for a title pursuit next year. 

Kelly Oubre signed a 2 year 16.3 million contract with the 76ers. He’ll provide some quality  play off the bench on a good value deal.  

Derrick Jones Jr. signed a 3 year 30 million dollar contract with the Clippers. He earns the contract after having a quality season with the Mavericks this past year. 

Naji Marshall signed with the Mavericks for 3 years 27.3 million dollars. He joined the Mavericks after they needed to find a replacement for Jones leaving. General manager Nico Harrison had said signing Jones this offseason was a priority for the Mavs. Marshall will now fill Jones’s role for this upcoming season. 

Mason Plumlee signs a 1 year deal with the Suns. He’ll help provide some front court depth for the financially tight franchise. 

Tyrese Maxey signs a 5 year 204 million dollar rookie max contract with the 76ers. He’s earned every penny of this contract after having a terrific start to his career. 

Isaiah Joe signs a 4 year 48 million dollar contract to stay with the Thunder. He shot 41% this past season from three point range and stepped into Josh Griddy’s starting spot during the Mavericks series. Excellent value for the Thunder who have a lot of cap space this summer. 

Aaron Wiggins signs a 5 year 47 million dollar contract with the Thunder. He provided some excellent minutes off the bench for them this past season. He’ll join Joe as a key player off the bench this season for the team. 

Pat Williams signed a 5 year 90 million dollar deal to stay with the Bulls. He’s been  injured a ton in the start of his young career. I generally like extending young players drafted by teams that have shown flashes of potential. Williams will need to stay healthy and keep developing his jumpshot. However, he does need to show the franchise he is worth keeping around after this contract. 

Jalen Smith signs a 3 year 27 million dollar deal with the Bulls. 

Isaiah Hartenstein signs a 3 year 87 million dollar deal with the Thunder. Thunder get a great signing in the former New York Knick. He had a great postseason and fills an immediate need for the Thunder in the center position and rebounding. He’ll allow Chet Holmgren to play more on the perimeter when they're together on the floor. 

Tobias Harris signs for 2 years 52 million dollars with the Pistons. After this contract he’ll obtain close to 300 million in on court earnings throughout his career. 

Justin Minaya returns to the Trail Blazers on a 2 way deal.

Drew Eubanks signs a 2 year 10 million dollar deal with the Jazz. 

Luka Garza signs a two year deal to stay in Minnesota. 

Delon Wright signs a 1 year 3.3 million dollar deal with the Bucks 

Derrick White signs a 4 year 126 million dollar deal with the Celtics. He’s been a pivotal player for the franchise since being traded for in 2022. His agreement locks up the entire starting 5 for the Celtics over multiple years now.  

Nic Batum signs a 2 year 9.6 million dollar deal with the Clippers. 

Klay Thompson signs a 3 year 50 million deal to go to the Mavericks as part of a three team sign and trade involving the Warriors, Mavericks and Hornets. The Warriors received two second round picks from the Mavericks. Charlotte gets Josh Green from the Mavericks and Mavericks get Thompson. The splash brothers time together in Golden State is officially over. 

De’Anthony Melton signs a 1 year 12.8 million dollar deal with the Warriors. 

Aaron Holiday signs a 2 year 10 million dollar deal with the Rockets. 

Jayson Tatum signed a 5 year 315 million dollar max extension with the Celtics. He now officially has the largest contract in NBA history. 

Tuesday July 2nd 

Mo Bamba signs a 1 year deal with the Clippers. Clippers with this move go below the luxury tax, a first since they acquired Paul George in a trade with the Thunder in 2019. 

Donovan Mitchell signs a 3 year 150.3 million dollar extension with the Cavaliers. A player option is included in year 3. The Cavs officially lock up Mitchell for at least 2 more years and will look to build on a Eastern Conference semifinal appearance this past season.

Gary Harris signs a 2 year 15 million dollar deal to stay with the Magic. 

James Wiseman signs a 2 year deal with the Pacers. Interesting to see how the former 2nd overall pick in 2020,  who is now on his third team since being drafted, will fit in. 

Kemba Walker retired and will join the Hornets coaching staff this upcoming season. He was an electrifying point guard and someone a lot of smaller guards looked up to. He was one of the shiftiest players the league has seen. He’s known for his legendary Big East and March Madness run in 2011 with UCONN. He had an excellent career in the NBA before his body broke down.

Moe Wagner signs a 2 year 22 million dollar deal to stay with the Magic. 

Goga Bitadze signed a 3 year 25 million dollar deal to stay with the Magic. 

Jonathan Isaac signed a 5 year 84 million dollar deal to stay with the Magic. His size and length on defense makes him one of the best per minute defenders. He’s ferocious on this end and can guard 1-5. He’ll need to stay healthy. The Magic are a dangerous team next season if that happens. 

Monte Morris signs a 2 year deal with the Suns. He’s a reliable point guard. Something the Suns next for next season. 

Xavier Tillman signed a 2 year deal to stay with the Celtics. 

Kyle Anderson joins the Warriors via sign and trade. Minnesota gets a second round pick swap and cash from the Warriors. This now puts the Warriors below the luxury tax threshold, a place they have not been in 4-5 years as a front office. Signals to the rest of the league their focus is internal now.

Wednesday July 3th

Lebron James signs a 2 year 101 million dollar deal. This is pretty funny considering he wanted to take a pay cut, but the Lakers had limited financial flexibility to sign anyone. He also only gave them a short amount of time to look for free agents. Very similar to when Damian Lillard asked the Portland front office to do the same thing. Overall, savvy PR move from Lebron. His contract includes a no trade clause and a player option in year 2. The Lakers are now just below the second apron. 

Damian Lee signs a 1 year deal to return to the Suns. The Suns now have 205 million dollars committed in salary to the 2024-2025 team! They’ll be operating in the second apron this upcoming season. 

Joe Ingles signs a 1 year deal to join the Timberwolves. He joins his former Jazz teammates Rudy Gobert and Mike Conley. He’ll look to fill a Kyle Anderson type role for the team. 

Alec Burks signs a 1 year deal with Miami. I guess the Heat forgot free agency was happening. They have chosen not to extend Jimmy Butler as of now. This is the only move they’ve made this offseason besides extending Bam Adebayo. 

PJ Dozier signs a 1 year deal with the Timberwolves. 

Taurean Prince signs a 1 deal with the Bucks. Interesting pickup, as the Bucks seemingly feel comfortable with the team they have now in the tougher Eastern Conference. 

Thursday July 4th 

Shake Milton signs a 3 year 9 million dollar deal with the Nets. 

Buddy Hield joins the Warriors via sign and trade from the 76ers. Philadelphia gets a 2031 second round pick in return. Hield will try to fill a Klay Thompson size hole in the backcourt next to Steph Curry. 

Friday July 5th 

Franz Wagner signs a 5 year 224 million dollar rookie max extension with the Magic. He’s a dynamite player next to Banchero and will look to improve his shooting for next season.

Saturday July 6th 

Caleb Martin signs a 4 year 32 million dollar deal with the 76ers. He turned down a 5 year 65 million dollar deal from the Heat, who were hoping to keep him on the roster long term. 

Malik Beasley signs a 1 year 6 million dollar deal with the Pistons 

Devonte Graham was traded to Charlotte and is being waived. 

Davis Bertans was waived by Charlotte. 

Landry Shamet had his 11 million dollar option declined by the Wizards. 

Miles Bridges signs a 3 year 75 million dollar deal with the Hornets. He’s an exciting alley-oop partner next to LaMelo Ball. He’ll look to have a better season this upcoming year. 

Aleksej Pokuusevski was waived by the Hornets. Shoutout to Poku that dude is awesome. 

Dario Saric signs a 2 year 10 million dollar deal with the Nuggets. He’ll try and help back up Nikola Jokic. 

Simone Fontecchio signs a 2 year 16.3 million dollar deal with the Pistons. 

DeMar DeRozan joins the Kings via sign and trade from the Bulls. The deal saw DeRozan sign a 3 year 76 million dollar deal with Sacramento. The Bulls got Chris Durante and two second round picks and cash. The Spurs helped facilitate the trade and received Harrison Barnes from the Kings. Barnes was the obvious trade candidate for the Kings. They look to bolster their offense on the low risk deal. They didn’t overpay for DeRozan, but I ultimately don’t think it’ll make anyone in the West nervous to face them. If it doesn’t work out for the Kings it's not a huge problem unless it affects relations with either De’Aaron Fox or Domantas Sabonis. 

Sunday July 7th 

Jordan McLaughlin signs a 1 year deal with the Kings. 

Post first week thoughts. 

The Thunder have nailed their 2024 offseason. They had a 2 year window of salary before extensions for Shai, Jalen Williams, and Chet Holmgren kick in. They address their needs for rebounding and shooting by getting Hartenstein and Caruso. They also did not lose anyone from the prior season and still keep their draft assets. They are the best positioned team for the present and future at the same time because of their youth and future draft assets. 

The 76ers gamble last offseason pays off. They were waiting to land a big star after saving most of the salary for someone. They were able to land Paul George at midnight at the start of free agency. He’ll be a phenomenal option next to Embiid and Maxey. I don’t think he’ll have to play a lot on the ball, which is good for George. He’s an excellent floor spacer and can pick up any slack needed when Embiid or Maxey defer to him. He's still a high-level wing defender as well, something the 76ers really needed after getting torched by Jalen Brunson this past postseason. The 76ers have now officially put themselves in position to go for the title in the 2024-2025 NBA season. 

The Spurs have the most underrated pickup of the offseason so far in Chris Paul. He only receives 11 million for 1 year, but most importantly Wembanyama finally gets a point guard. It'll be really fun to watch these two link up next season. 

It is also worth noting that the top of the Eastern Conference has become very good over the past several weeks. The Celtics return everyone from a dominant title run, the Knicks have upgraded their roster considerably since the start of the offseason, Philadelphia now adds to the most desired free agent this offseason had to offer. It leaves you to wonder what in the world are the Milwaukee Bucks doing. They have signed a few players or smaller deals, but if they feel like this roster is good to run it back for next season I think that’s a mistake. They only have so much time on the Damian Lillard and Giannis timeline before it gets messy. The East is now a cut throat conference with the top getting better and younger teams like the Pacers, Magic, and Cavaliers looking to show their place amongst the best in the conference. 

The offseason now comes to a roadblock as teams are waiting to see what the Jazz do. Lauri Markkanen is eligible for an extension on August 6th, but he has also been named in numerous trades involving various teams around the league. Until Danny Ainge decides to pull the trigger on a trade he likes I think the next couple of weeks will be a little bit slow until the Jazz decide their franchise's direction. Many teams are waiting to see what the Jazz do before making any acquisitions to their roster. 

Finally, I’ll speak about the splash brother break up. It’s hard to imagine Steph Curry and Klay Thompson won’t be playing together next season. They won 4 championships together and are the greatest shooting backcourt in NBA history. They played off each other so well. The 2022 title felt like a coronation to honor the two. They’ve meant so much to Golden State and NBA history as well. It was super exciting to watch them play together and it’s pretty sad they will not finish their careers together. They both deserve their jersey’s to be hung in the rafters in Golden State obviously, when their time in the league comes to an end. But, overall they gave the fans and league a fun 13 years that’s likely to never be replicated again. As far as Klay's fit in with the Mavericks it gives them a deadly shooter, something Luka has yet to have. People can argue about Klay’s ability to shoot and how it has decreased since his injuries, but the fear he instills in defense is still there. No one is letting him catch and shoot in rhythm and he’ll space the floor extremely well for the Mavericks. I think he gets a lot of unnecessary hate as well. He missed essentially 900 days of basketball after having two of the worst injuries possible in the sport. He’s still an absolute sniper though. Ask Oklahoma City Fans about game 6 in the 2016 Western Conference finals when he hit 11!!! Freaking threes to send it to a game 7  in Golden state. This move will upgrade a much needed role for the Mavericks next season.

Feel free to share your thoughts in the comments below as well!