Shaedon Sharpe will not need surgery for a small labral tear in his left shoulder, the Portland Trail Blazers announced on Wednesday.

Sharpe suffered the injury in his first game at summer league.

The rookie is expected to make a full recovery by training camp. 

The Portland Trail Blazers defeated the New York Knicks to win the Las Vegas Summer League Championship. Blazers forward Trendon Watford was named MVP of the Championship Game. Overall Summer League MVP will be named on Monday.

Portland defeated New York 85-77 to win the title. Watford had 19 points, seven rebounds and three steals in the title game.

An MRI taken on Friday revealed Trail Blazers guard Shaedon Sharpe with a small labral tear in his left shoulder.

Sharpe will begin immediate rest and rehabilitation. He will miss the remainder of Summer League and will be reevaluated in 10-14 days.

The injury occurred during Portland’s Summer League game against Detroit on Thursday, July 7.

Damian Lillard and the Portland Trail Blazers have agreed to a two-year, $120 million extension.

Lillard now has five seasons and nearly $270 million on his current contract.

Lillard will earn $63 million in 2027.

After just over five minutes of his Summer League debut, Shaedon Sharpe of the Portland Trail Blazers suffered a left shoulder injury. Sharpe is expected to undergo an MRI to determine the extent of the injury. His status for the remainder of Summer League is unknown at this point.

Sharpe had hit 1-of-3 from the field for two points prior to the injury. The Candian born wing was drafted seventh overall out of Kentucky by the Blazers at the 2022 NBA Draft.

Sharpe did not appear in a game in college, due to some questions about his eligibility. Scouts who saw him play on the high school level and in practices and workouts were intrigued by his offensive abilities. That, in part, led to him being drafted in the top half of the lottery.

The Portland Trail Blazers will waive Eric Bledsoe ahead of his approaching guarantee date.

Bledsoe is expected to receive interest from a number of teams once he clears waivers.

Bledsoe is coming off a four-year, $70 million extension signed with the Milwaukee Bucks in March of 2019 ahead of his free agency. The Bucks traded Bledsoe to the New Orleans Pelicans in 2020 as part of the Jrue Holiday trade. Bledsoe was subsequently traded to the Los Angeles Clippers and then to the Blazers. 

The New Orleans Pelicans have interest in signing CJ McCollum and Larry Nance Jr. to contract extensions. The Pelicans acquired both players from the Portland Trail Blazers in February, which helped turn around their season and become a playoff team.

"It sounds like CJ McCollum is having some contract extension talks with the Pelicans," said Brian Windhorst. "I'm not sure when he can actually sign that, Andrew. I know he signed his last contract extension in 2019."

"I believe it is next month when they can start talking about that," said Andrew Lopez. "I know it's before the season..."

"Maybe they haven't 'talked', but I heard they 'talked', don't tell anybody," replied Windhorst in a hushed voice.

McCollum signed a three-year, $100 million contract extension in 2019.

"I think the Pelicans are also interested in extending Larry Nance's contract," added Windhorst. "We'll see if that gets done."

Jody Allen released a statement on the future of the Portland Trail Blazers amid reports that a sale of the franchise is imminent. The estate of Paul Allen has stipulated that the Blazers must be sold at some point.

"As chair of both the Portland Trail Blazers and the Seattle Seahawks, my long-term focus is building championship teams that our communities are proud of. Like my brother Paul, I trust and expect our leaders and coaches to build winning teams that deliver results on and off the court and field.

"As we've stated before, neither of the teams is for sale and there are no discussions happening.

"A time will come when that changes given Paul's plans to dedicate the vast majority of his wealth to philanthropy, but estates of this size and complexity can take 10 to 20 years to wind down. There is no pre-ordained timeline by which the teams must be sold.

"Until then, my focus - and that of our teams - is on winning."

While Damian Lillard has been widely expected to sign a two-year extension with the Portland Trail Blazers worth more than $100 million, sources tell Sam Amick of The Athletic that it is not a sure thing yet.

The Blazers still needed to have a strong offseason to persuade Lillard to extend through the 26-27 season when he'll be 36. Portland has acquired Jerami Grant and Gary Payton II while also re-signing Anfernee Simons and Jusuf Nurkic this offseason. 

The deadline on an extension is the start of the regular season.

Drew Eubanks and the Portland Trail Blazers have agreed to a one-year deal.

Eubanks averaged 14.5 points, 8.5 rebounds and 1.6 assists in 29.5 minutes over 22 games with the Blazers last season.