The free agency market for the 2023-24 season has officially opened. Due to the threat of the second luxury tax line, this year's signings and trades are noticeably less active than in previous years. Chris Paul, waived by the Warriors, signed with the Spurs to join Wembanyama. Harden re-signed with the Clippers for $70 million over two years. Cunningham extended his contract with the Pistons for five years at $226 million. The Magic signed Pope to a three-year, $66 million deal, and Kevin Porter Jr. returned to the NBA with the Clippers.
Chris Paul Signs with Spurs for $11 Million
After being waived by the Warriors, Chris Paul agreed to a one-year deal worth over $11 million with the Spurs. Paul had a positive conversation with Spurs coach Gregg Popovich and was attracted by the culture and opportunities in San Antonio. He aims to mentor Wembanyama and prove he is still an elite guard. Last season, Paul played 58 regular-season games for the Warriors, averaging 9.2 points, 3.9 rebounds, and 6.8 assists.
James Harden Re-signs with Clippers for Two Years
James Harden signed a two-year, $70 million contract with the Clippers, including a player option for the second year. Harden averaged 16.6 points, 5.1 rebounds, and 8.5 assists in 72 regular-season games last season. In the playoffs, he averaged 21.2 points, 4.5 rebounds, and 8 assists in six games.
Kevin Porter Jr. Joins Clippers
Kevin Porter Jr. signed a two-year contract with the Clippers, including a player option for the second year. Previously out of the NBA due to legal issues, Porter played in Greece before returning to the NBA. He reunites with former teammate Harden in Los Angeles.
Cade Cunningham Extends with Pistons for $226 Million
Cade Cunningham signed a five-year, $226 million max extension with the Pistons. Cunningham averaged 22.7 points, 4.3 rebounds, and 7.5 assists last season.
Kentavious Caldwell-Pope Signs with Magic for $66 Million
Kentavious Caldwell-Pope signed a three-year, $66 million contract with the Magic, including a player option for the third year. He averaged 10.1 points, 2.4 rebounds, and 2.4 assists last season.
Max Christie Re-signs with Lakers
Restricted free agent Max Christie signed a four-year, $32 million contract to remain with the Lakers. He averaged 4.2 points and 2.1 rebounds last season.
Jonas Valanciunas Signs with Wizards for $30 Million
Free agent Jonas Valanciunas agreed to a three-year, $30 million contract with the Wizards. Valanciunas played 82 regular-season games last season, averaging 12.2 points, 8.8 rebounds, and 2.1 assists.
Obi Toppin Re-signs with Pacers
Restricted free agent Obi Toppin signed a four-year, $60 million contract to stay with the Pacers. Toppin averaged 10.3 points and 3.9 rebounds last season.
Eric Gordon Signs with 76ers for $3.3 Million
Eric Gordon agreed to a one-year, $3.3 million contract with the 76ers. He averaged 11 points and 2 assists last season.
Andre Drummond Returns to 76ers
Andre Drummond signed a two-year, $10 million contract to return to the 76ers, providing backup for Embiid. He averaged 8.4 points and 9 rebounds last season.
Kevin Love Re-signs with Heat
Kevin Love signed a two-year, $8 million contract to return to the Heat. He averaged 8.8 points and 6.1 rebounds last season.
Mason Plumlee Signs with Suns
Mason Plumlee agreed to a one-year, $3.3 million contract with the Suns. He averaged 5.3 points and 5.1 rebounds last season.
Naji Marshall Signs with Mavericks
Naji Marshall signed a three-year, $27 million contract with the Mavericks. He averaged 7.1 points and 3.6 rebounds last season.
Len Re-signs with Kings for $3.3 Million
Alex Len agreed to a one-year, $3.3 million contract to stay with the Kings. He averaged 2.5 points and 2.7 rebounds last season.
Impact of the New Labor Agreement
The new labor agreement introduces a second luxury tax line, significantly affecting team strategies. Teams exceeding this line face severe penalties beyond fines, including losing exceptions, restrictions on sign-and-trade deals, and limits on trade flexibility. These changes have led to cautious spending and fewer high-value contracts on the first day of free agency.
Future Prospects
As free agency progresses, teams will continue to navigate the new financial landscape. High-profile players like Paul George and Klay Thompson are expected to make decisions soon, potentially shifting the balance of power in the league. The Lakers, Clippers, Mavericks, and 76ers are all in the mix for these top talents, with intense competition anticipated.
Which team do you think Klay Thompson will join? Share your thoughts on the first day of free agency in the comments.
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