Maggette signs with Warriors
An entire league had been waiting for the Elton Brand domino to fall, and when it finally did Tuesday with Brand spurning the Warriors and Clippers for Philadelphia, Golden State didn't wait long to make its next move.
The Warriors reached a surprisingly quick agreement with free-agent forward Corey Maggette on a five-year contract that could end up being worth about $50 million, according to league sources.
It's a hefty deal for Maggette, who had been fielding offers mostly starting at the midlevel exception of $5.6 million a year - even if it represents only about half of what the Warriors were willing to commit to Brand, his former Clippers teammate.
Golden State dangled a five-year, $90 million contract at Brand in hopes of luring him from Los Angeles, but the forward ended a weeklong guessing game by agreeing to a five-year deal worth a reported $82 million with the Sixers on Tuesday.
The Warriors were considered a longshot, and sources said that Philly's combination of money and location ultimately led Brand to renege on his verbal accord to sign with the Clippers as part a package deal with ex-Warriors guard Baron Davis.
Maggette's deal with Golden State can be announced as early as today and represents the team's first real step in reloading after Davis' departure.
Maggette, 28, averaged 22.1 points and 5.6 rebounds for last season, when he alternated between being a starter and sixth man. He gives the Warriors a much-needed scoring punch with Davis gone and restricted free agent Monta Ellis expected to become the top offensive option.
Maggette, a 6-foot-6, 225-pounder, adds depth and bulk to a Golden State frontcourt that loses Mickael Pietrus today. The forward will sign a four-year deal with Orlando - the last at Pietrus' option - for just less than the midlevel exception, according to agent Bill McCandless.
McCandless said the Warriors didn't seriously pursue re-signing Pietrus, and replacing him with Maggette will end up costing them significantly more.
Though Maggette had few suitors who could offer more than the midlevel exception, sources say Golden State felt compelled to move rapidly once it became clear that Brand was heading to the Sixers.
Maggette's signing is expected to take up close to half of the Warriors' available cap space, which likely pushes them out of the running for any upper-tier free agents remaining on the market.
Maggette told the Los Angeles Times that the Clippers refused to match the Warriors' offer.
A team source said the Warriors are looking to add an experienced big man to their roster. Among the restricted free agents available are Nets center Nenad Krstic, Lakers forward Ronny Turiaf and the Pacers' David Harrison. Unrestricted free agents include the Nuggets' Eduardo Najera and Oklahoma City's Francisco Elson.
The NBA set its salary cap at $58.68 million, the luxury-tax threshold at $71.15 million, and the midlevel exception at $5.585 million on Tuesday. The Warriors are believed to have nearly $50 million in committed salary and cap holds for next season.
http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2008/07/08/SPFE11LQJ7.DTL
<!--/articlecontent -->
An entire league had been waiting for the Elton Brand domino to fall, and when it finally did Tuesday with Brand spurning the Warriors and Clippers for Philadelphia, Golden State didn't wait long to make its next move.
The Warriors reached a surprisingly quick agreement with free-agent forward Corey Maggette on a five-year contract that could end up being worth about $50 million, according to league sources.
It's a hefty deal for Maggette, who had been fielding offers mostly starting at the midlevel exception of $5.6 million a year - even if it represents only about half of what the Warriors were willing to commit to Brand, his former Clippers teammate.
Golden State dangled a five-year, $90 million contract at Brand in hopes of luring him from Los Angeles, but the forward ended a weeklong guessing game by agreeing to a five-year deal worth a reported $82 million with the Sixers on Tuesday.
The Warriors were considered a longshot, and sources said that Philly's combination of money and location ultimately led Brand to renege on his verbal accord to sign with the Clippers as part a package deal with ex-Warriors guard Baron Davis.
Maggette's deal with Golden State can be announced as early as today and represents the team's first real step in reloading after Davis' departure.
Maggette, 28, averaged 22.1 points and 5.6 rebounds for last season, when he alternated between being a starter and sixth man. He gives the Warriors a much-needed scoring punch with Davis gone and restricted free agent Monta Ellis expected to become the top offensive option.
Maggette, a 6-foot-6, 225-pounder, adds depth and bulk to a Golden State frontcourt that loses Mickael Pietrus today. The forward will sign a four-year deal with Orlando - the last at Pietrus' option - for just less than the midlevel exception, according to agent Bill McCandless.
McCandless said the Warriors didn't seriously pursue re-signing Pietrus, and replacing him with Maggette will end up costing them significantly more.
Though Maggette had few suitors who could offer more than the midlevel exception, sources say Golden State felt compelled to move rapidly once it became clear that Brand was heading to the Sixers.
Maggette's signing is expected to take up close to half of the Warriors' available cap space, which likely pushes them out of the running for any upper-tier free agents remaining on the market.
Maggette told the Los Angeles Times that the Clippers refused to match the Warriors' offer.
A team source said the Warriors are looking to add an experienced big man to their roster. Among the restricted free agents available are Nets center Nenad Krstic, Lakers forward Ronny Turiaf and the Pacers' David Harrison. Unrestricted free agents include the Nuggets' Eduardo Najera and Oklahoma City's Francisco Elson.
The NBA set its salary cap at $58.68 million, the luxury-tax threshold at $71.15 million, and the midlevel exception at $5.585 million on Tuesday. The Warriors are believed to have nearly $50 million in committed salary and cap holds for next season.
http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2008/07/08/SPFE11LQJ7.DTL
<!--/articlecontent -->
