The Nets have signed veteran shooting guard Wayne Ellington to a one-year deal, the team announced in a press release. The New York Post‘s Tim Bontemps reports that the deal is for $1.5 million, coming out of Brooklyn’s taxpayer midlevel exception:
The Nets don’t have much more room to make moves after re-signing Brook Lopez and Thaddeus Young to huge deals, but they’ve done a nice job adding ancillary pieces for cheap. Ellington is a career 38.2 percent three-point shooter, and the Nets don’t have much outside shooting, so this is a good fit.
Brook Lopez and Thaddeus Young both opted out of the final year of their respective contracts with the Brooklyn Nets, and those decisions are paying off in a big way. It didn’t take long for both players to reach new deals with Brooklyn, with Lopez getting three years and $60 million and Young getting four years and $50 million, according to Yahoo’s Adrian Wojnarowski:
Lopez, 27, will receive a three-year, $60 million maximum contract that includes some protections for the Nets should a recurrence of Lopez’s past foot issues sideline him again, sources said. The deal is expected to include a player option after the second season, which would allow him to re-enter free agency once new television money raises the salary cap.
Young, 27, who opted out of $10.2 million owed him next season, will sign a four-year, $50 million deal, sources said.
It’s unclear what the protections for the Nets in Lopez’s deal are, but it’s good that they’re there. He’s absolutely a max player when healthy, arguably the best offensive center in the league. But his foot problems have never fully gone away, so that health isn’t a sure thing.
The return of Young and Lopez to the Nets has been a foregone conclusion around the league since they opted out, with strong indications that they intended to get new long-term deals done. And that’s exactly what happened.
When the Brooklyn Nets shipped Mason Plumlee out the door on draft night, trading him to Portland, it was a sign they were very confident they could bring back free agents Brook Lopez and Thaddeus Young. As New York Post Nets writer Tim Bontemps noted, the only other bigs on the roster are Cory Jefferson, Earl Clark, and Chris McCullough.
The Nets need Lopez and Young back, and the sense around the league is they will get just that.
From Marc Stein and Mike Mazzeo of ESPN:
Rival teams interested in Brooklyn Nets free agents Brook Lopez and Thaddeus Young are increasingly convinced that they have no shot at luring either one away from the incumbent Nets, according to league sources.
Sources told ESPN.com that both Lopez and Young are widely expected to reach verbal agreements on new deals with the Nets early in free agency, which officially begins Wednesday at midnight.
Not long after free agency opens, the Nets are expected to reach a verbal agreement with Lopez for three-years, $60 million, while Young will get in the neighborhood of four years, $50 million, according to multiple reports. The two sides can start negotiating on July 1, but no deal can be signed around the league until July 9 (there is a moratorium).
The Nets are active on other fronts as well. They are trying to trade Joe Johnson and Deron Williams, both guys are making more than $20 million next season and the Nets want to reduce or eliminate their luxury tax.
Mazzeo also added this about another Nets free agent.