July 7 open thread: Moratorium lifted, Raptors called on Millsap, team ranks 8th in merchandise sales

(Programming note: The open threads will only run through July 7, when deals can become official. There just won’t be enough news/movement after that to warrant them, I don’t think, and Summer League begins July 8.)

Well, that was certainly a night. Apologies for not updating the open thread with the wild news last night, but I was at the Jays game (good god, they’re awesome), and then we all needed time to process the craziness and eagerly watch the fall-out (Jose!) trickle out on Twitter.

It’s not clear exactly how these moves change the power structure of the East just yet, because there’s a lot of roster-building still to do. It does, however, create another team with heavy recruiting power for the “ring-chasing veterans” group, as Dwyane Wade has always been a strong recruiter and Chicago’s a great city. It also leaves the Heat in a weird, disaster of a position, and maybe a Josh McRoberts hits the block as a result (I’ve been asked about Chris Bosh, too – it’d be awesome, but it would be very tough to match salary in a way that helps the Heat, and nobody seems all that clear on Bosh’s playing status).

Anyway, the moratorium is lifted. Things can officially be signed now, which should open up the trade market a little more and establish the mid-level market. That doesn’t mean something will happen just yet, but it’s a safe bet that something will when I’m on a plane later and unable to cover it. (I’m off to Vegas for Summer League.)

Some notes

*The NBA confirmed its salary cap is set at $94.143M for next season, with a $113.287M luxury tax, $117.287M apron level, and $84.729M floor. These are all almost identical to the estimates we’ve been using in our analysis here, and it means DeMar DeRozan’s first-year salary could come in as high as $26.54M. I have it estimated at $24M below, as that’s the amount at which he’d hit $138M total with the maximum allowable annual raise. There are a number of ways the Raptors could structure it depending on the exact total, his preferences, their preferences, and so on.

*As a follow-up to that point, don’t expect the Raptors to “officially” re-sign DeRozan immediately. Signing him would lock them into being over the cap and open up the mid-level and bi-annual exceptions, but for right now, they’d probably prefer the additional flexibility that the option to get below the cap provides (in the event there’s a salary-dump out there somewhere).

*The cap projection for 2017-18 has been amended down to $102M from $107M. That makes staying reasonable this summer even more important, but it does threaten to limit the team’s cap space in a pivotal summer, depending on what happens with Kyle Lowry. (It also suggests the spending has out-stripped what the league expected, as the projected “shortfall” owed to players in the cap spike has been amended from $375M to $200M.)

*Teams have spent an estimated $3.13B over 78 contracts. Teams as a whole are still about $118M below cap floors, with 78 roster spots still open. There’s also about $360M in potential cap space, ignoring cap holds and exceptions teams can use to exceed the cap.

*I didn’t know where else to put this, but the Raptors ranked eighth in team merchandise sales this season. Thought I’d pass along, because that’s pretty awesome.

Resources

Here’s a quick run-down of some things that may be helpful:

*The full salary cap primer, which explains a lot of why the Raptors have been quiet.

*As a quick refresher, this is what the Raptors’ cap sheet looks at right this second:

(Note that Eric Pincus and Albert Random have both amended DeRozan’s cap hold from $15.525M to $15.225M, and I trust their crack at it more than mine, so I’ve followed suit.)

*The follow-up to that, a mailbag that hopefully answers a lot of your questions about the primer.

*A look at how the contracts given out on Day One compare to the Raptors’ deals. And a look at what the Mid-Level Exception market appears to be (or appears not to be, at least).

*To help calibrate with the new cap money, here’s a chart comparing what different salaries will take up in the cap this year compared to last year. Basically, you need to change your benchmark for what $10 million means, or how valuable an asset on a cheap (looking at you, Patrick Patterson) or rookie deal is.

Raptors Rumors

*DeMar DeRozan is back on a five-year deal estimated to be between $137.5M and $145M.

*Bismack Biyombo is gone to Orlando on a four-year deal estimated to be worth $72M.

*The Raptors met with Ryan Anderson, who has since been paid $80M over four years by Houston. They also may or may not have met with Meyers Leonard.

*The Raptors are interested in Pau Gasol, but that could be a complicated chase. Gasol might command $18-22M, which complicates things further. Gasol’s off to the Spurs, anyway.

*Any lingering Nerlens Noel interest has dissipated.

*The Raptors have “serious interest” in Dewayne Dedmon. He’s gone to San Antonio, though.

RIP pic.twitter.com/s75sdpetwv

— Blake Murphy (@BlakeMurphyODC) July 7, 2016

*Remember when the Hawks were trying to move Paul Millsap? The Raptors were among the teams the Hawks talked to, according to Zach Lowe of ESPN.

*The Raptors have made inquiries about Drew Gooden.

Reported agreements/close – Friday to Wednesday

(Note: I was keeping track source by source originally but lost the handle, so I’ll refer you to the fine work of CBS Sports or USA TODAY Sports for more.)

Re-sign

Mike Conley – Memphis – 5 years, $153M (full max)
DeMar DeRozan – Toronto – 5 years, $137.5-139M (90.9% of max)
Andre Drummond – Detroit – 5 years, $128-130M (full max)
Bradley Beal – Washington – 5 years, $128M (full max)
Nicolas Batum – Charlotte – 5 years, $120M (78.5% of max)
Hassan Whiteside – Miami – 4 years, $98.6M (full max)
Evan Fournier – Orlando – 5 years, $85M
Kent Bazemore – Atlanta – 4 years, $70M
Marvin Williams – Charlotte – 4 years, $54.5M
Jordan Clarkson – L.A. Lakers – 4 years, $50M
Jamal Crawford – L.A. Clippers – 3 years, $42M
Dirk Nowitzki – Dallas – 2 years, $40M
Dwight Powell – Dallas – 4 years, $37M
Austin Rivers – L.A. Clippers – 3 years, $35M
Lance Thomas – New York – 4 years, $27.1M
Darrell Arthur – Denver – 3 years, $23M
Wesley Johnson – L.A. Clippers – 3 years, $18M
Tarik Black – L.A. Lakers – 2 years, $12.9M
Deron Williams – Dallas – 1 year, $10M
Tomas Satorasnky – Washington – 3 years, $9M (was their 2012 2nd-round pick)
Willy Hernangomez – New York – Multi-year deal TBA (was their 2015 2nd-round pick)
Richard Jefferson – Cleveland – 2 years, $5M
Luc Mbah a Moute – L.A. Clippers – 2 years, $4.5M
Brian Roberts – Charlotte – 1 year, $1.1M
Manu Ginobili – San Antonio – 1 year, TBA

New homes

Al Horford – Boston – 4 years, $113M
Harrison Barnes – Dallas – 4 years, $94M (agreement to sign offer sheet) (full max)
Chandler Parsons – Memphis – 4 years, $94M (full max)
Ryan Anderson – Houston – 4 years, $80M
Luol Deng – L.A. Lakers – 4 years, $72M
Joakim Noah – New York – 4 years, $72M
Bismack Biyombo – Orlando – 4 years, $72M
Dwight Howard – Atlanta – 3 years, $70.5M
Evan Turner – Portland – 4 years, $70M
Ian Mahinmi – Washington – 4 years, $64M
Timofey Mozgov – L.A. Lakers – 4 years, $64M
Kevin Durant – Golden State – 2 years, $54.3M
Eric Gordon – Houston – 4 years, $53M
Solomon Hill – New Orleans – 4 years, $52M
Tyler Johnson – Brooklyn – 4 years, $50M (offer sheet)
Courtney Lee – New York – 4 years, $48M
Dwyane Wade – Chicago – 2 years, $47.5M
Jon Leuer – Detroit – 4 years, $42M
Matthew Dellavedova – Milwaukee – 4 years, $38.4M (sign-and-trade)
Jeremy Lin – Brooklyn – 3 years, $36M
E’Twaun Moore – New Orleans – 4 years, $34M
Pau Gasol – San Antonio – 2 years, $30M
Jared Dudley – Phoenix – 3 years, $30M
Al Jefferson – Indiana – 3 years, $30M
Mirza Teletovic – Milwaukee – 3 years, $30M
D.J. Augustin – Orlando – 4 years, $29M
Rajon Rondo – Chicago – 2 years, $28M
Jerryd Bayless – Philadelphia – 3 years, $27M
Andrew Nicholson – Washington – 4 years, $26M
Arron Afflalo – Sacramento – 2 years, $25M
Garrett Temple – Sacramento – 3 years, $24M
Joe Johnson – Utah – 2 years, $22M
Cold Aldrich – Minnesota – 3 years, $22M
Trevor Booker – Brooklyn – 2 years, $18M
Ish Smith – Detroit – 3 years, $18M
Gerald Henderson – Philadelphia – 2 years, $18M
Jason Smith – Washington – 3 years, $16M
Anthony Tolliver – Sacramento – 2 years, $16M
Jeff Green – Orlando – 1 year, $15M
Ramon Sessions – Charlotte – 2 years, $12.5M
Matt Barnes – Sacramento – 2 years, $12M
Langston Galloway – New Orleans – 2 years, $10M
Leandro Barbosa – Phoenix – 2 years, $8M
Sergio Rodriguez – Philadelphia – 1 year, $8M
James Ennis – Memphis – 2 years, $6M
Justin Hamilton – Brooklyn – 2 years, $6M
Seth Curry – Dallas – 2 years, $6M
Mindaugas Kizminskas – New York – 2 years, $6M
Brandon Jennings – New York -1 year, $5M
Roy Hibbert – Charlotte – 1 year, $5M
Brandon Rush – Minnesota – 1 year, $3.5M
Nene – Houston – 1 year, $2.9M
Zaza Pachulia – Golden State – 1 year, $2.9M
David West – Golden State – 1 year, $1.55M
Malcolm Delaney – Atlanta – 2 years, $1.5M

Trades
Utah sending Trey Burke to Washington for a 2021 2nd-round pick
Golden State sending Andrew Bogut to Dallas for a future 2nd-round pick
Orlando sending Shabazz Napier to Portland for cash
San Antonio sending Boris Diaw to Utah for the rights to Olivier Hanlan
Bulls sending Mike Dunleavy to the Cavaliers (using a trade exception), likely for a future protected 2nd-round pick
Bulls sending Jose Calderon to the L.A. Lakers, , likely for the rights to a player
Mavericks sending Jeremy Evans and cash to the Pacers, likely for a future protected 2nd-round pick

Waived

Duje Dukan, Caron Butler – Sacramento

Remaining free agents

Here’s an updated table of remaining free agents and their most common positions in 2015-16, as explained in more detail here.

Reported agreements/close -Thursday

Re-sign

Marcus Thornton – Washington- 1 year, $1.3M

New homes

Boban Marjanovic – Detroit – 3 years, $21M (offer sheet)
Dewayne Dedmon – San Antonio – 2 years, $6M
Rodney McGruder – Miami – 3 years, partially guaranteed

Trades

Waived
Drew Gooden – Washington
Spencer Dinwiddie – Chicago