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Basketball Wiretap
Basketball news gathered from around the net.

Andrew Wiggins Signs Rookie Contract With Cavs

The Cleveland Cavaliers have signed Andrew Wiggins to his rookie contract.

Wiggins' deal starts at the rookie scale of $5.5 million.

Wiggins cannot be traded for at least 30 days. Wiggins has been mentioned in trade rumors involving Kevin Love.

Via RealGM Staff Report

Jameer Nelson Finalizes Two-Year, $5.6M Deal With Mavericks

Free agent guard Jameer Nelson has finalized the paperwork on his two-year, $5.6 million contract with the Dallas Mavericks, a league source told RealGM.

Nelson will earn $2.73 million in the first season of his deal and $2.86 million in Year 2, which will be a player option.

Well over 10 NBA teams – including the Houston Rockets, Dallas Mavericks, Washington Wizards and Chicago Bulls – pursued Nelson in unrestricted free agency and remained interested as he neared an agreement with the Mavericks.

Nelson’s former star teammate, Dwight Howard, made multiple recruiting calls to Nelson about joining the Rockets, sources told RealGM. Howard and Nelson led the Orlando Magic to the NBA Finals in 2009.

Despite designs on his potential role with various franchises, Nelson balanced finances and a winning situation and decided upon Dallas earlier in the week. He’s expected to receive strong consideration for the Mavericks’ starting point guard position.

After six straight playoff appearances with the Magic, Nelson underwent two losing seasons in which the organization went 43-121. He averaged 12.1 points, seven assists and 3.4 rebounds in 68 games last season.

Nelson, 32, was the 20th overall draft pick in 2004 out of St. Joseph’s Univeristy. In 10 years with the Magic, Nelson averaged 12.6 points and 5.4 assists.

ESPN first reported Nelson’s deal with the Mavericks.

Via Shams Charania/RealGM

Celtics Ready To Move On From Kevin Love Trade Talks

The Boston Celtics are ready to all but move on from their pursuit of Kevin Love with the Cleveland Cavaliers and Chicago Bulls engaged in talks.

Danny Ainge has targeted a trade for Love over the past few months.

"The more teams step up and show interest in Love, the further Boston falls in the pack," a source said on Wednesday. "Danny's a smart guy. He knows when to keep pushing for something and when to move on."

The Celtics have a huge stockpile of draft assets, but teams seem to be preferring somewhat proven young talent.

Via A. Sherrod Blakely/Comcast

Lakers Deny Waiting To Hire Head Coach With Rivers Potentially Becoming Available

The Los Angeles Lakers have still not hired a head coach and two sources disputed the notion that they are potentially waiting to see if Doc Rivers becomes available with the Donald Sterling situation dragging out.

Rivers would not be expected to remain head coach of the Los Angeles Clippers if the sale of the franchise to Steve Ballmer is overturned.

The Lakers haven't interviewed any candidates since free agency began with the exception of Byron Scott. The Lakers also have not currently scheduled any future interviews and Scott is considered the favorite.

Via Mark Medina/Los Angeles Daily News

Bid Book Reveals Severe Overpay For Clippers By Ballmer

Steve Ballmer severely overbid for the Los Angeles Clippers based on the expected 2014 revenues of the franchise.

Ballmer's $2 billion bid is 12.1 times the expected 2014 revenues.

The book, called "Project Claret" so as not to give away on the cover sheet that these numbers are indeed the financials of the Clippers, reveals that the team is projected to finish the year with $62.3 million in revenues from ticket sales, $25.8 million from its local cable contract and $24.1 million in additional team revenue. The Clippers are also projected to receive $52.7 million on the season in shared national league revenue, according to the document. After taking away player payroll costs, total operating revenue for the 2013-14 season is projected to be $100 million.

Valuation multiples are usually based on total revenues, so the $164.9 million before player costs are extracted equals more than 12 times less than the $2 billion sale price.

"No team in the history of sports has sold for six times total revenues, so that should give you an idea of how crazy this purchase price is," said a sports banker who was not involved in the transaction.

The document cites a five-year mean of teams that have been purchased during that time at a sales price of 3.4 times total revenue.

Donald Sterling testified earlier this month that he could have gotten at least $2.5 billion for the team.

Via Ramona Shelburne, Darren Rovell/ESPN

Magic Sign 2nd Round Pick Devyn Marble

The Orlando Magic have signed rookie guard Devyn Marble.

The draft rights to Marble (56th overall pick), along with Evan Fournier, were acquired from Denver in exchange for Arron Afflalo on June 26.

Marble (#11, 6’6”, 200, 9/21/92) played in 136 career games during four years at the University of Iowa, averaging 12.5 ppg., 3.4 rpg., 2.9 apg. and 1.29 stlpg. in 27.6 minpg. 

Via RealGM Staff Report

Rockets Sign Clint Capela

The Houston Rockets have signed first round pick Clint Capela.

The Rockets had considered keeping Capela in Europe this season in hopes of using cap space to sign Chris Bosh.

The Rockets will pay the maximum $500,000 to Capela's previous club, France Chalon, to receive his official FIBA letter of clearance. 

Under the NBA rookie scale, Capela will make $991,000 next season and $1.03 million the 2014-15 season with options for two more seasons.

Via Marc J. Spears/Yahoo! Sports

Suns Waive Dionte Christmas

The Phoenix Suns released Dionte Christmas on Thursday.

Christmas averaged 2.29 points in 31 appearances for the Suns last season.

Via RealGM Staff Report

Agent Of Josh Huestis Proposed Delaying Rookie Contract By Going To D-League

The Oklahoma City Thunder drafted Josh Huestis with the No. 29 overall pick in the 2014 NBA Draft.

First round picks typically receive guaranteed contracts for two seasons, but the Thunder and Huestis agreed for him to spend his rookie season with their D-League affiliate. Huestis will receive approximately $25,000 instead of $750,000. Huestis can start his rookie scale contract later.

The Thunder are essentially stashing Huestis in the D-League.

Huestis' agent Mitchell Butler tells SB Nation that the player's camp proposed it during the pre-draft process.

"This was the perfect team and the perfect storm," he said. "This isn't for everyone."

 

The move has been criticized by a variety of sources, as it may violate an NBA bylaw that compensation cannot be discussed with draft picks until after the player has been selected. 

Via Mike Prada/SB Nation

Shannon Brown Released By Knicks

Shannon Brown was released by the New York Knicks on Wednesday.

Brown signed with the Knicks late last season and played with the team in Summer League.

Via RealGM Staff Report

Jameer Nelson To Sign $2.7M Deal With Mavericks

The Mavericks are using their room exception to sign Jameer Nelson.

Blake Griffin Withdraws From 2014 USA Basketball

Blake Griffin was one of 19 players selected to the USA roster from which the 2014 USA World Cup Team will be selected.

Source: Ray Allen Leaning Toward One More Season, Signing With Cavaliers

Ray Allen would join former LeBron James on the Cavaliers.

Al-Farouq Aminu Agrees To Two-Year, $2.1M Deal With Mavericks

Al-Farouq Aminu will have a player option on the second season of his deal.

Erick Green To Sign With Nuggets

With Erick Green, Denver will have 14 guaranteed contracts.

Omri Casspi Interested In Returning To Kings

Omri Casspi is expected to become a free agent once he is waived by the Pelicans.

Mavericks Void One-Year Deal Of Rashard Lewis

Rashard Lewis needs knee surgery, which was discovered during his physical examination.

Report: Bulls Offer Gibson, McDermott, Mirotic To Wolves For Kevin Love

The Bulls have reportedly offered Taj Gibson, Doug McDermott and Nikola Mirotic to the Wolves for Kevin Love.

Jameer Nelson To Meet With Mavs

The Mavericks still have their $2.7 million room exception to offer to Jameer Nelson.

Sterling Sues NBA, Silver, Wife Seeking To Undo Sale Of Clippers

Donald Sterling asked for an injunction to freeze the $2 billion sale of the Clippers.

Nick Johnson To Sign Guaranteed, Three-Year Rookie Deal With Rockets

Nick Johnson will sign a fully guaranteed, three-year rookie contract with the Rockets, a league source told RealGM.

Cavaliers Acquire Three Non-Guaranteed Contracts From Jazz

The Jazz will trade John Lucas, Malcolm Thomas and Erik Murphy to the Cavaliers for Carrick Felix, a future second round pick and $1 million.

Bojan Bogdanovic Signs Three-Year, $10.1M Deal With Nets

Bojan Bogdanovic averaged 13.4 points, 2.2 rebounds and 2.2 assists in 61 games last season with Fenerbahce Ulker.

Cavaliers Offering Future First Round Picks For Experienced Center

The Cavaliers only have Anderson Varejao and Brendan Haywood on their depth chart at center.

Cavaliers Trying To Acquire Non-Guaranteed Contract To Flip For Love

The Wolves would obtain salary cap relief from the Cavaliers in the form of non-guaranteed contracts.

Bulls Enter Kevin Love Trade Talks

The Bulls shelved their interest in Love while pursuing Carmelo Anthony.

Emmanuel Mudiay Agrees To One-Year, $1.2M Deal In China

Emmanuel Mudiay has agreed upon a $1.2 million deal with Guangdong.

Robbie Hummel Re-Signs With Timberwolves

Robbie Hummel has re-signed with the Timberwolves.

Suns Maintain Hope Of Re-Signing Eric Bledsoe

The Suns have been negotiating with Eric Bledsoe.

LeBron's Camp Didn't Push Him To Sign With Cavaliers

LeBron James spent his first seven NBA seasons with the Cavaliers before going to the Heat for four seasons in 2010.
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