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Houston Rockets Salary Cap Update: 2022 Offseason Pre-Draft Edition

Breaking down the Rockets salary cap situation as they head towards the 2022 NBA Draft

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Houston Rockets Salary Cap Update

Year 2 of the rebuild is in the books. While the Houston Rockets had the league’s worst record for a second straight season, there was much more hope and excitement this season. The youth movement in Houston is fully underway, led by scoring dynamo Jalen Green.

With their season now over, GM Rafael Stone and the Rockets must look to the offseason for ways to improve their roster and optimize their rebuild.

Player Salary, Exceptions and Available Cap Room

The Houston Rockets currently have the following player salary commitments, cap holds and salary cap exceptions available for the 2022-23 season (assuming that the league’s current projection of a $122 million salary cap is accurate):

Player salary commitments: John Wall ($47.4 million, likely), Eric Gordon (19.6 million), Christian Wood ($14.3 million), Green ($9.4 million), David Nwaba ($5.0 million), Alperen Sengun ($3.4 million), Kevin Porter, Jr. ($3.2 million), Usman Garuba ($2.5 million), Josh Christopher ($2.4 million), Garrison Mathews ($2.0 million), Jae’Sean Tate ($1.8 million, team option), K.J. Martin ($1.8 million), Daishen Nix ($1.6 million), D.J. Augustin ($333,333 dead cap hit), and in the final year of its application, the long-since-waived Troy Williams ($122,741 dead cap hit).

Cap holds: Dennis Schroder ($7.1 million – Rockets hold only Non-Bird rights), Bruno Fernando ($2.2 million – Rockets hold full Bird rights), Trevelin Queen ($1.6 million – coming off a two-way contract), Anthony Lamb ($1.6 million – coming off a two-way contract), and Michael Frazier ($1.6 million – cap hold never waived).

Other Salary Cap Exceptions: If Houston operates over the salary cap this summer (extremely likely), the Rockets will have access to the Non-Taxpayer Mid-Level Exception (NT-MLE, expected to be around $10.3 million, the use of which would impose a hard cap at the “apron” level – currently projected at about $155.7 million). Although it would also impose a hard cap at the apron level, Houston could possibly use the Bi-Annual Exception (BAE, expected to be around $4.1 million), since they did not use it last summer. In the unlikely event that the Rockets use cap room this summer, they could instead have the Room Exception of around $5.3 million at their disposal. Assuming they operate over the salary cap, the Rockets will also have a small ($608,000) traded player exceptions (TPE) left over from the Daniel Theis trade, although it is highly unlikely to be used (or even usable).

Given their salary commitments, Bird rights to their free agents and additional cap exceptions available to them, the Rockets should operate over the cap for the 2022-23 season. Barring trades, the Rockets will be at least $5 million over the salary cap.

Preliminary Internal Decisions

Ahead of the NBA Draft and the subsequent free agent season, Stone and his staff will need to address some internal matters.

The two biggest no-brainers of Houston’s offseason will take place before the end of June: (1) Wall exercising his $47.4 million player option and (2) the Rockets exercising their $1.8 million team option on Tate.

With so many roster spots already occupied for next season, it is unclear whether the Rockets will attempt to retain Fernando, who can be made a restricted free agent by extending him a $2.2 million qualifying offer. Right now, the odds of the Rockets committing that offer to Fernando are fairly slim, although Fernando played pretty well in a limited role down the stretch.

The Rockets can make each of Queen and Lamb – coming off two-way contracts – a restricted free agent by extending them another two-way contract for next year (with only a small salary guarantee) as a qualifying offer.

Draft Night

Paolo Banchero Houston RocketsThe Rockets will enter the 2022 NBA Draft with the 3rd overall pick (their own) and the 17th overall pick (via the Brooklyn Nets). They are without their own second rounder (31st overall), which was traded away in the 2019 salary dump of Brandon Knight for Iman Shumpert. Houston will also have about $4.5 million in remaining cash available to buy draft picks, having already spent some cash in trades for Theis and Sekou Doumbouya this past season. (Credit Rockets ownership for spending over $3.7 million in salary and cash in the Doumbouya trade last fall to acquire an unprotected 2024 Brooklyn Nets second rounder.)

While trades up, down or out (for an established player) are still on the table, the most likely scenario has the Rockets staying at #3 and selecting Duke power forward Paolo Banchero, perhaps the most league-ready player in the draft and an early favorite for Rookie of the Year.

At #17, trades up, down or out are much more likely. However, if the Rockets stay at #17, expect them to take the best player available on their draft board, regardless of position. Still, all else equal, Houston would probably love to get another wing defender with size or a rim protector with length.

While spots on the 15-man roster are hard to come by for next season, don’t be shocked if the Rockets try to deploy some of their remaining cash to buy a draft pick in the late 40s or the 50s if there is a player they like who is willing to be stashed overseas for a year or two. Especially with the Rockets expected to have a massive amount of cap room in 2023, having a second round pick (as opposed to an undrafted free agent) to add for the rookie minimum that summer would help maximize their cap room.

Of course, as is standard operating procedure, look for the Rockets to pursue a handful of undrafted free agents for their summer league team, training camp and possibly two-way contracts for next season.

Internal Free Agent Decisions

Houston will have some decisions to make with its own free agents heading into July.

Dennis Schroder: After taking a major hit to reputation over the past couple of seasons, Shroder did a noble job as a veteran presence for the young Rockets down the stretch this season. However, both sides will likely part ways this summer. Shroder will look for a starting (or key backup) point guard role on a playoff team. Meanwhile, the Rockets will probably look to give backup point guard minutes to Nix and/or one of their new rookies.

Bruno Fernando: Even if the Rockets don’t extend a qualifying offer to Bruno, they could still bring him back this summer via full Bird rights. Still, it would probably require a trade moving out Wood or another big to open up a roster spot for Fernando.

Trevelin Queen: Queen just had one of the greatest seasons in G-League history. MVP. Finals MVP. All-Defense Team. With a qualifying offer potentially costing the Rockets very little in guaranteed salary, it would seem foolish for them not to extend a qualifying offer to Queen. Expect him to be in a similar position to Armoni Brooks last summer, a restricted free agent who ultimately accepts the two-way qualifying offer before playing well enough to earn a multi-year standard NBA contract. If a trade opens up an extra roster spot on the wing, Queen seems a likely contender to take that spot.

Anthony Lamb: While not receiving the same accolades as Queen, Lamb had an excellent all-around season for the RGV Vipers this season. Even if he is ultimately cut from one of the two-way spots in favor of an undrafted rookie, Lamb has probably earned the small investment it would take to potentially keep him in the fold this summer and into this fall. At the very least, Lamb would be a nice addition to training camp.

Outside Free Agents

Mo BambaDue to the shortage of roster spots – and the team’s goal to have significant 2023 cap room – it is unlikely that the Rockets will be as active in free agency as they’ve been in years past. However, armed with their full NT-MLE, they could possibly acquire a real contributor via free agency if they so choose.

One possible free agent who could slip through the cracks and could be a contributor for the Rockets next season is Mo Bamba. Orlando must extend Bamba a $10.1 million qualifying offer in order to make him a restricted free agent. Given the presence of Wendell Carter, Jr., Jonathan Isaac (expected back from injury) and presumptive top pick Jabari Smith (or Chet Holmgren), there’s a decent chance Orlando doesn’t elect to make that financial commitment to Bamba.

At 7-1 with a ridiculous 7-10 wingspan and 9-7 standing reach, Bamba would provide the length and rim protection that is missing from the current Rockets roster. Bamba also shot 38% from 3-point range this season, an impressive percentage from a big man. While his stats this season (10.6 points, 8.1 rebounds, 1.7 blocks in 25.7 minutes per game) don’t necessarily jump off the page, and while he certainly comes with a little risk, 24-year-olds with Bamba’s physical tools don’t often hit unrestricted free agency.

Especially if Houston trades Wood this summer, they should look long and hard at Bamba for most/all of the NT-MLE. He could come in and start at center, with Sengun being the higher usage sixth man dominating second units. Meanwhile, they could let Bamba take those early game lumps against other teams’ starting centers. The promise of (or at least the chance to compete for) a starting spot could entice Bamba enough to sign for a little less than some other offers. (And yes, the Longhorns connection doesn’t hurt, either.)

Of course, Bamba isn’t the only free agent out there who could help the Rockets. But that list is probably a short one for a team expected to keep enduring growing pains next season with its many young players.

Conclusion

Entering Year 3 of the rebuild, no one is expecting the Rockets to contend for a playoff spot, let alone a championship. However, with a burgeoning core of Green and (probably) Banchero, the hope and excitement from last season should continue to grow. The franchise is aiming for a brighter future ahead.

Here’s hoping it comes soon.

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Mike D’Antoni: The Rockets isolation offense wasn’t pretty, but it was effective

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Mike D'Antoni Houston Rockets

Former Rockets coach Mike D’Antoni made an appearance on the Thinking Basketball podcast to discuss his career, and he went into his stretch with the Houston Rockets (2016-2020).

One of the big topics discussed was the isolation sets that the Rockets ran often and why they did it.

“If that one-on-one was not efficient, we wouldn’t do it,” said D’Antoni. “But it was doing, if I’m not mistaken, 1.2-something (points per possession) ridiculous. 1.16, for a long time, was the standard of the best offense an NBA team had. We kind of blew that out of the water a little bit (at) 1.20, but our isolation game was like 1.25, 1.24, so it was like — why wouldn’t we isolate?”

The former Rockets coach admitted it was not the most pleasing offense to the eye.

“People don’t like it,” said D’Antoni. “Aesthetically it’s not good. I don’t love it. I would rather pass the ball around. And if I had a team that didn’t have James Harden, guess what? We’d be passing the ball around… It wasn’t pretty. People can complain. But when you have the most efficient offense in NBA history, or close to it, why wouldn’t you do it? Just because you want to look pretty?”

D’Antoni talked about how good the Rockets second units were in the 2017-18 season because of Chris Paul, citing how often the Rockets boosted their lead or turned a deficit into an advantage when they turned to the bench.

“Chris was just a maestro at running our offense, and doing it a little bit (Steve) Nash-like,” said D’Antoni. “Harden had to do it like Harden did it, but both of them were good. Both of them were perfect.”

D’Antoni said part of the reason for the iso sets was he wanted to maximize James Harden and make him “the best player he can possibly be.”

“James is one of the smartest players — and there are a bunch of them — that I ever coached,” said D’Antoni. “I thought probably two or three years there, he had a complete mastery of the game. He went over 50 I don’t know how many times in a row. We were banged up one night and I said, ‘James, you might have to get 50 tonight for us to even have a chance to win.’ He gets 60 and we win. Stuff like that. He was able to do stuff (that)… just a mastery of the game.”

On how close the Rockets were to winning a title, said D’Antoni, “I thought we had it, the third year until Chris went down. Maybe not. Who knows, because Golden State had hearts of champions. Those guys are hard to beat. But I thought we had a good chance at it, that’s for sure.”

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Why Alperen Sengun will come off the bench

With Bruno Fernando expected to start, here’s the plan for the Rockets second-year center

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Alperen Sengun Houston Rockets

When the Rockets traded Christian Wood, it was crystal clear that Alperen Şengün was the new starting center for the Houston Rockets.

As we’re on the cusp of the Rockets 2022-23 season opener, there’s only one problem — he’s not.

Bruno Fernando is expected to get the starting nod at the five for the Rockets, leaving many to wonder why the second-year center out of Turkey is coming off the bench.

There are a couple reasons why.

First, the Rockets are trying to optimize their prospects, putting them each in the best position to succeed. In the case of Sengun, they want to leverage his passing skillset by making him an offensive hub. That’s difficult to do when you have ball-dominant guards in Jalen Green and Kevin Porter Jr., who thrive out of isolation and are trying to make progress leading pick-and-rolls.

Fernando is a much more limited player, but he fits better right now with the starters because he screens/rolls hard and plays above the rim as an alleyoop threat — it’s been fairly apparent in the preseason how the guards use him. While not a great defender, Fernando also is more of a rim protector than Sengun.

Secondly, Sengun needs to adapt more to the NBA game. The Rockets very much believe in his prospects — he’s only 20 years old — and they still consider him the best five on the roster. But the NBA is a much different game than EuroBasket, which is where he spent more of his offseason focus. The days of just dumping the ball into a post player seem to be dwindling in the NBA. He’s got to get quicker, stronger, tougher — but most important of all, he’s got to shoot the ball better from range.

In a culture where coming off the “bench” is considered a demerit (it shouldn’t be), you have to explain the reasons why — but keep in mind, his minutes will still be significant. I expect he will likely get in the 24-26 range this year, an increase over the 20.7 he got last season. He’s still going to have plenty of opportunity to develop.

My two cents: I give the Rockets props for doing this so early. It’s been apparent to me that the Rockets have multiple players who would be considered secondary playmakers, and to maximize their skills, they need the ball in their hands (imagine if the Rockets drafted Paolo Banchero … grateful every day that Jabari fell to #3!). This hopefully allows for that. Playing Sengun off the bench gives you an opportunity to play a variety of ways and also covers up a current deficiency at backup point guard.

I don’t want to watch Sengun follow the guards around — I want to watch peak Sengun running offensive sets.

Overall, I like it — let’s get the season going.

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Rockets extend Kevin Porter Jr. to incredibly team-friendly deal

What’s being reported as a four-year, $82M extension is actually a one-year, $15.8M extension with full club control

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Kevin Porter Jr. signs Rockets extension

Today was the deadline for the Rockets to extend Kevin Porter Jr. The Rockets have had an offer extended to KPJ for some time and the word behind the scenes was it was likely this day would come and go without a deal.

That changed in a hurry Monday morning.

The Rockets and KPJ agreed on a reported four-year, $82 million extension — at least, that was the initial report.

In truth, the deal is not that at all and is more the spin of an agent. Only the first year of the deal, at just $15.9 million, is guaranteed. The Rockets have until June 30, 2024 to decide if they want to pick up the two following years (2024-25 and 2025-26).

It’s clear KPJ accepted the Rockets longstanding offer because it is one extremely team-friendly deal.

“We value the player and the person that Scoot is becoming and are eager to invest in him and his journey,” said Rockets General Manager Rafael Stone.  “He’s expressed how happy he is to be with this organization and has shown his commitment to putting in the work both on and off the court. We are excited for the opportunity to continue to build something special with him.”

In essence, the structure of this contract fully acknowledges the risks associated with betting on KPJ. It’s not the money you’re giving him — it’s the years. If you give him a long-term deal with fully guaranteed money and things go south, that is an unmovable contract — a cardinal sin to give out when your rebuild is going so phenomenally well after the drafting of Jalen Green and Jabari Smith Jr.

This deal reflects that risk and comes close to eliminating it. The Rockets control all the upside. If KPJ pans out beautifully, they can extend him — it’s 100% their decision. If he doesn’t pan out or the roster/core shifts in an unexpected way — such as being in position to draft Scoot Henderson — KPJ could be a large expiring contract next season.

The Rockets basically signed KPJ to the Sam Hinkie Special (contracts you saw with Chandler Parsons, Jae’Sean Tate and KJ Martin), but with much bigger dollar figures.

For KPJ’s part, there is a small win — he’s gets almost $16 million next season and is signed for this season ($3.2M) and next. He doesn’t have to worry about the finances as much while still staying highly motivated to play well. He didn’t fully bet on himself and take this to restricted free agency, but he did still take a deal that incentivizes him to earn it. But this deal isn’t in the same stratosphere as the ones you saw signed by Tyler Herro and Jordan Poole.

The bottom line: There are risks to signing KPJ that were mitigated by this unique contract structure. If you are a fan of the Rockets remaining flexible as they strive to build a contender, you should be thrilled with this. Big win for Stone and the Houston front office.

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KJ Martin reportedly drawing interest on trade market

Rockets have had “ongoing talks” with Phoenix Suns about the third-year forward

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KJ Martin Houston Rockets

According to Jake Fischer of Yahoo Sports, the Phoenix Suns have had “ongoing talks” about acquiring Rockets forward KJ Martin while Portland and Miami are “two other known teams with interest in Martin.”

There has been talk of trading KJ since before the summer when his father, former NBA All-Star Kenyon Martin, reportedly sought a trade for his son. With the Rockets holding multiple picks in the draft, it appeared the writing was on the wall for reduced minutes for KJ.

Martin has looked like a trusted member of Stephen Silas’ rotation so far in preseason. KJ has played in all three games, averaging 11.0 points and 4.0 rebounds in 26.0 minutes, hitting 5-11 from deep.

At the same time, Jabari Smith Jr. is the future, Jae’Sean Tate seems to be the coaching staff darling and Tari Eason has exploded onto the scene. Minutes for KJ could be available but they will be hard to come by.

If the Rockets are going to trade KJ, what should be the asking price? My feeling is a “good” second-round pick (one that could be expected to be in the 31-42 range) would be the goal. If the Rockets were offered a lottery-protected first-round pick, I think that would be a steal right now for Houston.

What could make more sense is if the Rockets combined KJ Martin with a player like Eric Gordon, especially given the goals of suitors like the Suns, Blazers and Heat.

 

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Jabari Smith steals show in Rockets preseason opener

The Rockets rookie is legit as we take a look at what else stood out in Houston’s preseason rout of the Spurs

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Jabari Smith Jr Houston Rockets

Finally, Rocketball is back — the Rockets destroyed the San Antonio Spurs 134-96 in the preseason opener Sunday night.

Granted, the Spurs look flat out terrible (the top contender for Wembanyama?) and may finish dead last (and it showed), but there were a number of things that played out in this game that should get Houston fans excited.

But before I get into that, I want to give a huge shout out to everyone who supported RocketsWatch Sunday night. We are watching and discussing Rockets games in realtime this season and the debut was overwhelming. There were over 700+ fans watching the game with Roosh Williams and I in what might be the largest online watch party ever for a Rockets game. The live reactions from the fans were priceless!

Let’s talk about what stood out in this game:

Jabari is the real deal

Going into Sunday night’s preseason opener for the Rockets, the biggest question on the minds of fans was simple — how will #3 overall pick Jabari Smith Jr. look in his first NBA action?

The answer is good. Really good.

Jabari threw down a dunk out of the gate and then locked in on high-energy defense on the other end and right away you knew — the Christian Wood Era was over. Jabari’s impact was immediate on both ends of the floor. Smith finished with 21 points on 8-15 shooting, including a blistering 5-8 from deep, to go with eight rebounds in 24 minutes.

Jabari described himself as “a lot more loose” than he was at Summer League, when he struggled to knock down his shots.

“It was easy,” said Jabari. “My teammates made it easy for me, finding me when I was open. The rest just came from knocking down shots, running the floor, trusting the offense and trusting my teammates.”

What most impressed me was how quick of a trigger Jabari had on the catch-and-shoot. He would receive a pass out of the post or a cross-court pass in the corner and would instantly let it fly, shooting easily over his defender’s reach. This trait stood out and was very Klay Thompson-esque. In the second half, Jabari hit a pull-up triple in transition (his fourth) that was very enticing, then absolutely slayed those of us in the RocketsWatch room when he took two long strides back from the free throw line to drain another triple.

At that point, it was official — the rookie was clowning the Spurs. I can’t tell you how thrilled I am that the Rockets drafted Jabari. This man is going to fit like a glove and will be a ridiculous two-way weapon for the Rockets long term.

Defense. They’re actually playing it. It’s true.

I don’t need to repeat that the Rockets were dead last in defense last year, but… the Rockets were dead last in defense last year. Although, maybe I need to turn that frown upside down.

https://twitter.com/FraudeauxNBA/status/1576358215406989312?s=20&t=X5YfCfDU5HwynBnvqoicSQ

Sunday, however, was a different animal and you could tell immediately. The Rockets were hustling, moving quickly on rotations and closeouts.

“It’s the defense, obviously, that we’ve been concentrating on,” said Stephen Silas. “Our help was good tonight. Our multiple efforts were really good… I’m super encouraged by our intensity on the defensive end.”

Jabari was a big part of that. He made some clear mistakes, sure — I’m not going to say he was perfect — but he seemed to set the tone. Still, it’s not just Jabari — it’s clear to me the mindset of this team is in stark contrast to what we’ve seen the past two seasons. Maybe it’s the Jabari Effect or maybe Lionel Hollins is making his presence felt, but this does not look like the 2021-22 Rockets on this side of the ball.

Tari Eason is pretty much plug-and-play

I had my doubts that Tari Eason would get a ton of run in this game, but Silas played him early (note: Jae’Sean Tate sat this game out). Without having any clear plays run for him, Tari fought and scrapped for 21 points and 10 rebounds (six offensive!) in just 21 minutes. He hit 9-13 from the floor.

“My mentality never changes,” said Eason. “I’m always going to be in the right spot, get after it defensively and be one of the hardest playing dudes on the court. I think that translates at any level and I’m just going to continue to do that.”

He plays like his hair is on fire and has tremendous potential as a two-way demon. Throw him out there when things get stagnant and he’s going to make things happen.

I’ve felt that the Rockets will likely bring Tari along slowly until they figure out what the long-term solution is for guys like KJ Martin, but Operation Patience isn’t going to work if he keeps putting up lines like this. You can’t keep him to the bench or send him to the G-League.

Is Bruno Fernando the backup center?

It sure seems that way. After news broke that the Rockets had signed Fernando to a four-year, nearly $11 million deal, Bruno was the first big off the bench, subbing in for Alperen Sengun.

I’ll be honest — this really surprised me. I expected that Usman Garuba would have the clear inside track to the spot. Fernando also seemed like a good bet to be on a two-way contract, but now with this new deal, Fernando is going to be on the 15-man roster and barring a trade, someone has to be cut (Boban? Favors?) that isn’t expected to be.

But Fernando, who sources say has been terrific in camp, showed why he got that contract, finishing 3-3 from the field and was a +18 in just 11 minutes. He was very effective on rolls, capping a pair of alleyoop passes from Kevin Porter Jr. I would be lying if I said I saw this coming, but it’s a welcome development.

Rotation Notes

It’s only one preseason game, but we still can draw a lot from how Silas sees the rotation.

Bruno looking like a good bet for the backup center role was not the only surprise. KJ Martin and Daishen Nix, along with Bruno, were the first subs of the night. That indicates what we expected, that Nix is in the lead for the backup PG spot over TyTy Washington, who I would guess will run the show with the RGV Vipers early on. I like TyTy as the better bet for this spot long term, but right now the job appears to be Nix’s to lose.

But KJ is a little surprising, given he reportedly wanted out this past offseason with the Rockets slated to bring in a couple bigger prospects (Jabari and Tari) at his position.

Garrison Mathews played only five minutes. The prediction many have made that Silas would play him 15+ minutes this year is not looking so hot.

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