Five players, $1.1 billion: a free-agency bonanza

Jokic, Beal, Towns, Booker and Morant ink lucrative NBA deals

The NBA generated more basketball-related income than ever this past season, the total number coming up just short of $9 billion (U.S.).

Business is good. The first night of free agency underscored how good.

Nikola Jokic agreed to the biggest contract in National Basketball Association history, Bradley Beal agreed to a deal worth a quarterbillion dollars, and the money just kept flowing. Shortly after midnight Friday in the eastern time zone, three more players — Karlanthony Towns, Devin Booker and Ja Morant — also agreed to hugemoney extensions.

Towns and Booker agreed to fouryear deals that will commence in 2024 and are worth at least $224 million, said their agent, Jessica Holtz of CAA. Morant will sign his first rookie extension, one that’ll be worth at least $193 million and could reach the $230-million range, according to Tandem Sports, which represents him.

Those five players — Jokic, Beal, Towns, Booker and Morant — had more than $1.1 billion in money committed to them in their new deals, highlighting the moves made Thursday when the NBA’S annual free-agent negotiating window opened.

Jokic agreed to a supermax extension to remain with the Denver Nuggets, the two-time reigning MVP guaranteeing himself at least $264 million over five seasons, starting with the 2023-24 campaign. The final number may go up slightly depending on what the league’s salary cap is going into the 2023-24 season and if it exceeds current projections.

Beal will make $251 million over the next five seasons after re-signing with Washington, one day after turning down $37 million for this coming season from the team with whom he’s spent the entirety of his 10-year career.

Towns and Booker got their deals not long afterward, as did Morant. More big-money extensions are coming at some point, particularly rookie extensions — Miami’s Tyler Herro and New Orleans’ Zion Williamson among the names on that list.

All those moves, even the biggestmoney ones, were overshadowed by a piece of non-free-agent news that came earlier Thursday when Kevin Durant, according to a person with direct knowledge of the situation, told the Brooklyn Nets he wanted a trade.

Jalen Brunson agreed to sign with New York, on a deal that ESPN reported would be worth $104 million over four years. He had earned about $6 million, total, in his four seasons with the Dallas Mavericks and saw his value soar by averaging 21.6 points in 18 playoff games this past season.

Anfernee Simons, who had a breakout season for the injuryplagued Portland Trail Blazers last year — taking advantage of his opportunity, and then some — agreed to a four-year, $100-million contract to remain with that club. And Lu Dort, undrafted three years ago and someone who made about $4 million combined in his three seasons

with Oklahoma City, will stay with the Thunder for the next five years on a deal worth nearly $88 million.

NBA numbers

The NBA set the new salary cap, luxury tax and other numbers that will be used this coming season and go into effect Friday.

The cap is $123.655 million, the tax level is $150.267 million. The minimum team salary level is $111.29 million and the exceptions were set, as well. The non-taxpayer mid-level is $10.49 million, taxpayer mid-level is $6.479 million, and the mid-level for a team with room under the cap is $5.401 million.

Day 2 of free agency

Zach Lavine is staying in Chicago. Same goes for Jusuf Nurkic in Portland.

Day 2 of NBA free agency on Friday brought another max deal — this time, going to Lavine, the Olympic gold medallist and twotime all-star, who secured the richest contract in Bulls history when he agreed to a five-year, $215-million contract.

Nurkic agreed to a four-year, $70million contract with Portland. The centre just completed his eighth NBA season, the past six of those coming with the Trail Blazers, for whom he averaged 15 points and 11.1 rebounds this past season.

Mitchell Robinson agreed Friday to a four-year, $60-million contract to remain with the New York Knicks.

Tucker to Philadelphia

P.J. Tucker is reuniting with Philadelphia GM Daryl Morey and — assuming he re-signs, as planned — James Harden, as well. Tucker agreed Thursday to a three-year deal with the 76ers for $33 million. Morey, Tucker and Harden were together with the Houston Rockets;

Harden declared free agency Wednesday with the intention of coming back to Philadelphia. Tucker won a title with Milwaukee in 2021 and helped Miami to the Eastern Conference finals in 2022.

Mcgee chooses Mavericks

Dallas and Javale Mcgee — a threetime NBA champion and an Olympic gold medallist, as well — agreed on a contract for two seasons and a third at Mcgee’s option worth about $20 million.

Portis, Ingles to Bucks

Bobby Portis (four years, $49 million) is returning to Milwaukee, and the Bucks are adding veteran guard Joe Ingles, as well.

Heat decisions

Miami will retain Victor Oladipo on a one-year, $11-million deal and Dewayne Dedmon on a two-year deal for about $9 million.

Magic keeping Harris

Gary Harris signed with the Orlando Magic, the team said, with the sides agreeing on two years for $26 million for the guard. The Magic are also keeping centre Mo Bamba on a two-year deal.

Raptors moves

Toronto is keeping forwards Chris Boucher (three years, $36 million) and Thaddeus Young (two years, $16 million).

Bagley staying

Detroit locked up restricted free agent Marvin Bagley III, agreeing to keep him with a three-year, $37million deal.

Wright to Wizards

In addition to keeping Beal, the Wizards also agreed to a two-year, $16-million deal with guard Delon Wright.