Deals, steals and early trades underway

Victor Wembanyama has another big man to help him out in San Antonio, the Houston Rockets continued their offseason overhaul and Orlando and Atlanta made moves with eyes on contending this coming season, as the NBA's free agency period got underway on Monday.

The Spurs lured center Luke Kornet away from Boston with a four-year, $41 million deal, a person with knowledge of the agreement told reporters. The person spoke on condition of anonymity because the team cannot announce the deal until the league's signing moratorium for most contracts is lifted on Sunday.

Kornet was part of Boston's 2024 NBA title team and has shot 68 percent from the field in 205 games, mostly off the bench, over the last three regular seasons. He is likely to add frontcourt depth to the Spurs, who are hoping to have Wembanyama — the 2023-24 NBA Rookie of the Year and an All-Star this past season — back and ready to go after he was diagnosed with deep vein thrombosis in his shoulder back in February.

The Rockets, meanwhile, added veteran forward Dorian Finney-Smith on a four-year, $53 million deal shortly after free agency opened. ESPN first reported the deal, and a person with knowledge of the agreement confirmed the terms to reporters.

Houston becomes Finney-Smith's fourth team after stints with Dallas, Brooklyn and the Los Angeles Lakers. He'll be added to a Rockets lineup that, earlier this summer, landed Kevin Durant in a blockbuster trade with Phoenix, though that deal cannot receive formal approval from the NBA until next week.

Finney-Smith averaged 8.7 points and was a 41 percent shooter from 3-point range this past season.

ESPN also reported that the Rockets' run on free agents continued with the addition of Hawks center Clint Capela, who spent the first six years of his career in Houston, before playing the last five seasons in Atlanta. Capela agreed to a three-year deal with the Rockets, ESPN said.

Dallas, which needed some point guard help, especially because the newly re-signed Kyrie Irving — rehabbing from an ACL tear — may not be ready to play until about midseason, agreed with D'Angelo Russell on a two-year contract worth nearly $13 million.

Russell would provide backcourt depth to a club with an imposing front line that, if healthy, would include No 1 overall pick Cooper Flagg, 10-time All-Star Anthony Davis and promising young center Dereck Lively II.

Eastern promises

Atlanta added Nickeil Alexander-Walker from Minnesota on what will be a four-year, $62 million deal, following a completion of a sign-and-trade with the Timberwolves. Minnesota will get a draft pick, cash considerations, and will create a trade exception once the deal is finalized, a person with knowledge of the move told reporters.

The Magic, meanwhile, added Tyus Jones on a one-year deal. He joins an Orlando roster that already landed Desmond Bane from Memphis in a trade, and the Magic — which played long stretches last season without Paolo Banchero, Franz Wagner and Jalen Suggs because of injuries — should be a legit contender in the East this season if its players stay healthy.

It was a big night for the Jones family: Tyus Jones' brother, Tre Jones, agreed Monday on a three-year deal to return to the Chicago Bulls.

Open for business

The free agency period officially opened at 6 pm Eastern time on Monday, but in actuality, was rolling long before that.

LeBron James has already opted in to a $52.6 million deal with the Los Angeles Lakers for this coming season, the Rockets traded for Durant — not a free agency move, obviously — and the Los Angeles Clippers saw James Harden decline his option in return for a new deal and a raise. There was even a surprise addition to free agency, with Portland announcing that it had bought out the contract of former No 1 pick Deandre Ayton, allowing him to sign with any team he chooses.

And on Monday, even before the shopping window officially started, more deals: Nicolas Batum will return to the Clippers, his agency said, on a two-year deal, while Joe Ingles agreed to return to the Minnesota Timberwolves. Deals like those could get done before the official start time because teams are allowed to negotiate with their own free agents once the NBA Finals are finished.

Other deals

In other deals confirmed on Monday night:

・ Center Kevon Looney agreed to a two-year deal with New Orleans, after he spent his first 10 seasons with Golden State.

・ Guard Caris LeVert will sign a two-year deal worth nearly $15 million annually with the Detroit Pistons, a team that won 14 games in 2023-24 and then won 44 games to earn the No 6 seed in the Eastern Conference this past season.

Salary cap set

The NBA announced Monday that it has set the salary cap for the coming season at $154.647 million, the maximum allowed 10 percent increase over the level for 2024-25.

The tax level for the 2025-26 season is $187.895 million, the league said.

What's already happened

・ Julius Randle returns to the Timberwolves with a potential $100 million deal.

・ Bobby Portis stays with the Bucks, keeping the popular sixth man in Milwaukee.

・ Duncan Robinson terminates his contract with the Heat, though he may return.

What's next

In very specific situations, teams can announce signings when completed, but in most situations, and this even applies to some draft-related trades (such as the one involving Durant going to Houston), teams won't be able to announce those until at least July 6.

Agencies via Xinhua