How does the Luol Deng buyout set up future moves for the Los Angeles Lakers?
Here's our team-by-team analysis of the latest major and (mostly) minor deals, including moves by the Rockets, Lakers, Grizzlies, Pelicans, Blazers and Spurs.
Houston Rockets
1. Signed forward Bruno Caboclo to a reported one-year contract
Because of his pedigree as a shocking first-round pick, Caboclo is an unusually interesting flier for the Rockets. Back when the Toronto Raptors drafted him, Caboclo was called the Brazilian Kevin Durant, a tough comparison for any young player but particularly brutal in his case. Though Caboclo's long-limbed frame is similar, he never had that kind of skill, and the Raptors developed him more as a 3-and-D specialist.
Caboclo's defensive numbers in the G League were outstanding, but his shooting hasn't shown much improvement, staying between 33 and 34 percent throughout his four-year career. In his brief NBA appearances for Toronto and the Sacramento Kings, Caboclo has made just 24 percent of his 3-pointers, not nearly enough to stay on the court. Barring a strong training camp, he's probably headed back to the G League.
Los Angeles Lakers
1. Agreed to a reported buyout with forward Luol Deng
The Lakers are taking a risk by agreeing to buy out Deng now, with two seasons remaining on his contract, but it's one that's probably worth it given how much money Deng agreed to give back.
While Deng previously sat on the Lakers' 2019-20 books for $18.6 million, there was never any chance he was going to be part of their roster beyond July 2019. At worst, the Lakers would have waived him and stretched his salary then, leaving $6.2 million on their books. Agreeing to a buyout now reduces that amount.
The $7.5 million Deng forfeited, per a report by ESPN's Ramona Shelburne and Adrian Wojnarowski, will be spread over the two remaining seasons proportional to Deng's remaining salary. Then the 2019-20 portion will be spread over the three stretched years, meaning Deng will count $5 million against the Lakers' cap from 2019-20 through 2021-22 -- $1.2 million less than the full amount before his buyout.
Every dollar will count for the Lakers next summer as they seek to create enough cap space to potentially make a max offer to a player with 10-plus years of experience. Getting to the maximum for players with seven to nine years of experience -- a group that includes possible free agent Kawhi Leonard, as well as Jimmy Butler and Klay Thompson -- should be easy if the cap comes in, as projected, at $109 million.
The Lakers should have a minimum of $70.3 million in salary for 2019-20, counting Deng's cap hit, their guaranteed contracts and team options for Lonzo Ball, Josh Hart, Brandon Ingram and Kyle Kuzma -- all of them appear certain to be exercised by Oct. 31. That would mean $38.7 million in space under the current cap projection, just enough for the 10-year max offer to a player like Kevin Durant ($38.15 million).
It's worth remembering two things, however. That figure does not include a cap hold for the Lakers' first-round pick, which could cut into their cap space substantially, depending where they finish in the standings this season. It's also just a projection. If the cap were to come in lower than expected, the Lakers might no longer have enough space to max a full 10-plus max offer without starting to trade some of their guaranteed contracts.
In those scenarios, the easiest way for the Lakers to get to max cap space might have been trading Deng heading into the final season of his contract, when swallowing his contract is no longer so onerous for another team. (The number of teams with cap space next summer also figures to make it more of a sellers' market for bad salary than the buyers' market it is right now.) Buying out Deng now takes away the option of trading him. So there is risk here.
That noted, I think Deng's giveback was big enough to make this worth doing for the Lakers. Though a buyout was possible next summer, with one year left on his deal Deng would not have had as much incentive to give back any guaranteed money. Completing a buyout now allows him to find another team and potentially rebuild his value, rather than spending another season wallowing on the Lakers' bench.
The Lakers also do add a roster spot, giving them the chance to keep one of the young players they've invited to training camp, rather than waste the spot on Deng -- who clearly no longer figured into their plans just two years after he was L.A.'s marquee signing in the reckless summer of 2016.
Memphis Grizzlies
1. Waived center Dakari Johnson
The Grizzlies were certain to waive Johnson, acquired last month from the Orlando Magic in a deal that helped Memphis shed the slightly larger salary of forward Jarell Martin. With 14 guaranteed contracts plus Andrew Harrison, the Grizzlies had no room for Johnson, so it was just a question of whether they would opt to waive him by the Aug. 31 deadline to stretch the 2018-19 salary in order to create more flexibility with regards to the luxury tax.
Assuming Memphis keeps Harrison, whose salary is guaranteed for $200,000, the Grizzlies now stand about $1.4 million below the tax line, offering some wiggle room for in-season moves.
New Orleans Pelicans
1. Waived guard DeAndre Liggins
2. Agreed to a reported two-year offer sheet with forward Tyrone Wallace, a restricted free agent from the LA Clippers
This is the first offer sheet in NBA history for a player coming off a two-way contract -- and almost certainly the smallest one ever for a restricted free agent. Per a report by ESPN's Ian Begley, it's for the minimum and only partially guaranteed. Nonetheless, the Clippers might pass on matching because their roster already is stuffed with the maximum 15 guaranteed contracts plus Patrick Beverley, who is certain to make the team despite a nonguaranteed contract. The Clippers already will have to waive or trade at least one player with a guarantee to get down to 15, and doing so to make room for Wallace probably doesn't make sense.
The 851 minutes Wallace played last season were the most among players on two-way contracts. He more than held his own on a Clippers team depleted by injuries, though I think his success has been overstated a little. Wallace shot just 25 percent on 3s, a longtime weakness, tanking his efficiency as a scorer. His primary value is at the defensive end. Wallace can guard all three spots on the perimeter, and the Clippers defended better with him on the court.
I do like Wallace better than Liggins, who played the D-and-no-3 role for the Pelicans last season, in no small part because at 24 there's still hope for Wallace to develop a more reliable jumper.
Portland Trail Blazers
1. Signed guard Gary Payton II, forward Cameron Oliver and center Chinanu Onuaku
Though Portland already has the maximum 15 players under NBA contract for this season, both of the Blazers' two-way spots are available at this point.
Payton, who finished last season on a two-way deal with the Lakers, has excelled in the G League since starring at Oregon State but has yet to provide enough offense to stick in the NBA.
The talented Oliver didn't make as big a G League impact in his first year after going undrafted out of Nevada and is the longest-term project of the group.
Onuaku probably has the best chance of sticking because Portland could use more depth at center after losing Ed Davis. Onuaku is a high-percentage finisher and strong rebounder whose limited mobility became an issue as the Rockets moved to a switch-heavy defense after drafting him. He should fit better in Portland.
San Antonio Spurs
1. Signed forward Quincy Pondexter to a reported one-year contract
Manu Ginobili's retirement leaves the Spurs with an open roster spot, and Pondexter is the first candidate to claim it, getting $150,000 guaranteed on his contract for the veteran's minimum, per a report by ESPN's Bobby Marks.
After two years off the court, Pondexter returned to play 23 games for the Bulls last season, before being waived in February. Predictably, Pondexter's athleticism seemed to have waned from when he was an effective 3-and-D role player in New Orleans before a series of knee surgeries and a MRSA scare. Pondexter shot just 3-of-22 (13.6 percent) on 3s, something that will have to improve if he's going to stick in San Antonio.