(AP) — Point guards were the immediate focus when the NBA’s free agency window opened Monday night, with Kyle Lowry headed to the Miami Heat and Lonzo Ball on his way to the Chicago Bulls.
Lowry and the agency that represents him, Priority Sports, said he was headed to the Heat. A person with knowledge of the deal said he would be signing a three-year contract worth nearly $30 million annually in what will become a sign-and-trade that sends Goran Dragic and Precious Achiuwa from Miami to Toronto. The person spoke to The Associated Press on condition of anonymity because nothing had yet been approved by the league.
“Miami Heat X Kyle Lowry Let’s Goo!!” Lowry wrote on Twitter, followed by five fire emojis.
The NBA’s window for talks opened at 6 p.m. EST, and as has become tradition, it did not take long for handshake deals to commence. No new contracts can be signed until noon Eastern on Friday. The league set the salary cap for this coming season at $112.414 million, with the tax level at $136.606 million.
Miami made the biggest early splash, not just landing Lowry but agreeing to terms with 3-point specialist Duncan Robinson on a deal that would be worth nearly $90 million if all five years are completed. Robinson, a person with knowledge of the deal said, agreed to a contract where four years are guaranteed and the fifth is only so partially.
And Miami isn’t done: Not only is this the summer where Bam Adebayo’s five-year, $163 million contract agreed to last fall kicks in, but the Heat plan to finalize an extension that would be worth an average of roughly $45 million annually with Jimmy Butler later this week. Butler and the Heat cannot begin those talks until Friday at the earliest by league rule.
Lowry is leaving Toronto after nine seasons there and helping the Raptors win the 2019 NBA championship. Considered by many the greatest Raptor ever, it’s fitting that his last move with the team amounts to another assist — a sign-and-trade to make sure Toronto got some assets back instead of just seeing him leave as a free agent.
Ball will be acquired by the Bulls from New Orleans in a sign-and-trade deal worth $85 million, Klutch Sports announced. The deal, according to ESPN, also included sending Tomas Satoransky and Garrett Temple from Chicago to the Pelicans.