Even though the NBA Draft was only six days ago, it feels like it has been a lot longer than that. Here is a breakdown of where the Charlotte Hornets are after the first two days of free agency wheeling and dealing.
The Hornets have lost the services of guard Devonte Graham in a sign-and-trade to the New Orleans Pelicans. Also, Charlotte chose not to retain Malik Monk. He signed a one-year contract with the Los Angeles Lakers for the veteran minimum. Cody Zeller agreed to a one-year deal with the Portland Trail Blazers to be their backup center.
After letting go of these three players, Charlotte still has $13.5 million in cap room and 15 roster spots accounted for. The two Martin brothers, Caleb and Cody, along with Jalen McDaniels, all have non-guaranteed deals going into next season.
Tuesday, the Hornets signed backup point guard Ish Smith, who is a local product from Concord, North Carolina. Smith signed a two-year contract worth $4.5 million per-year with a team option for the second year.
Smith is in his 12th season in the NBA. Charlotte is the 12th organization that he has played for. Smith has spent the last two seasons with the Washington Wizards, where he averaged 9 points, 5 assists and 3 rebounds per game. He shot 44% from the field and 37% from 3-point range. He does not take a lot of 3’s, but when he takes them, he is efficient. The Hornets got a good deal for Smith and if it does not pan out, they can cut ties with him after a year.
The Hornets available cap space did not change after the Graham sign-and-trade because Smith’s contract fit under the mid-level exception ($4.9M)
With the free agents that are still remaining and Charlotte in desperate need of wing players and big men, it is possible that most, if not all of their remaining money will be used in trades to improve the roster. It is another possibility that the Hornets could go after Indiana Pacers’ Myles Turner and his $17.5 million per-year contract by waiving their non-guaranteed contracts and acquire him by using cap room and draft capital. There is no way to determine at this point, how Charlotte wants to proceed in the future. The Hornets and Oklahoma City Thunder are the only two franchises remaining in the league with cap space. They should be making significant moves in the next few days.
The Mason Plumlee and JT Thor draft night trade with the Pistons, becomes league official on Friday.
