- Adrian Wojnarowski at Yahoo Sports29 mins ago
For four years, the letter had come to define Dan Gilbert, and the owner of the Cleveland Cavaliers wanted to wash away the shame and embarrassment and guilt of it all. So Sunday, Gilbert sat down with LeBron James and his inner-circle and tried to absolve himself of a most wretched moment in time.
"We had five great years together and one terrible night," Gilbert told James, and so started the process of reconciliation on Sunday night in Miami. "I told him how sorry I was, expressed regret for how that night went and how I let all the emotion and passion for situation carry me away. I told him I wish had never done it, that I wish I could take it back."
- Adrian Wojnarowski at Yahoo Sports33 mins ago
In an effort to clear salary cap space for Chris Bosh, the Houston Rockets have reached a deal to send guard Jeremy Lin to the Los Angeles Lakers, league sources told Yahoo Sports.
The Rockets will send a 2015 first-round pick, and other draft considerations to the Lakers to unload the final year of Lin's $14 million expiring contract that includes a salary cap hit of $8.3 million based on the deal's structure.
The Lakers will send cash and the rights to an overseas player, sources said.
Moving Lin to Los Angeles will clear most of the salary cap space necessary to sign Bosh to a four-year, $80 million-plus contract. The Rockets are still working to formalize a commitment out of Bosh, who will leave Miami because of the departure of LeBron James to Cleveland. The Rockets also plan to match Chandler Parsons' three-year, $46 million offer sheet with the Dallas Mavericks once Bosh has committed, sources told Yahoo Sports.
Bosh was planning to speak to Houston coach Kevin McHale on Friday afternoon, a source said.
The fact that Lin has only one year left on his deal appeals to the Lakers, who want to keep flexibility for future free-agent classes.
- Adrian Wojnarowski at Yahoo Sports3 hrs ago
Four years after leaving Cleveland to chase championships with the Miami Heat, LeBron James is returning home.
James made the announcement in a first-person essay on Sports Illustrated's website.
"I always believed that I’d return to Cleveland and finish my career there," James told SI's Lee Jenkins. "I just didn’t know when. After the season, free agency wasn’t even a thought. But I have two boys and my wife, Savannah, is pregnant with a girl. I started thinking about what it would be like to raise my family in my hometown. I looked at other teams, but I wasn’t going to leave Miami for anywhere except Cleveland. The more time passed, the more it felt right. This is what makes me happy."
Prior to agreeing to return to Cleveland, James – along with his agent Rich Paul and business manager Maverick Carter – met with Cavaliers owner Dan Gilbert for four hours in Miami and mended their relationship, which fractured after Gilbert blasted James in an open letter four years ago shortly after James' televised announcement he was leaving for Miami.
- Adrian Wojnarowski at Yahoo Sports9 hrs ago
Hours after the Cleveland Cavaliers believed they were on the cusp of a commitment out of LeBron James, the superstar free agent jetted 30,000 feet over America with Dwyane Wade on his way back to Miami.
The fight for the generation's biggest free agent raged out of the desert and back to the shores of Biscayne Bay on Thursday night, with James tempering a brimming belief within the Cavaliers into a trepidation that Wade could be playing the part of Pat Riley's closer for the Miami Heat.
Cleveland had been carefully listening to the direction of James' agent Rich Paul, who has been privately telling people for weeks – even months and years – that he has been determined to deliver the prodigal son of Northeast Ohio back home.
The Dallas Mavericks have submitted Chandler Parsons' three-year, $46 million offer sheet to the Houston Rockets, ending sign-and-trade talks between the teams, league sources told Yahoo Sports.
The Rockets will have three days to match the offer sheet.
The Rockets and Parsons negotiated throughout Tuesday and Wednesday, but were unable to come to an agreement on a deal, sources said.
It is unclear whether the Rockets will match the offer, but Houston general manager Daryl Morey has had conversations with the agents for the three best unrestricted free agent forwards: Luol Deng, Trevor Ariza and Paul Pierce, sources said.
The Rockets are prepared to give Chris Bosh a four-year, $88 million contract if he leaves the Miami Heat, but can't do that if they first match Parsons' offer sheet.
Parsons' agent Dan Fegan has Parsons and Dwight Howard as clients. If Houston matches, the two stars would be free agents together in 2017. Parson's offer sheet has a player option for the 2016-17 season, similar to Howard's contract.
The Portland Trail Blazers have reached agreement on a two-year, $4 million contract with Steve Blake, league sources told Yahoo Sports.
Blake, 34, agreed to take the Blazers' biannual exception, sources said.
This will be Blake's third stay with the Blazers. He spent the 2005-06 season in Portland and played another 2½ seasons with the Trail Blazers from 2007-10. The Los Angeles Lakers traded Blake to the Golden State Warriors at the February deadline, where he became a free agent this summer.
Blake has averaged 6.9 points and four assists in his 11 NBA seasons.
Free-agent forward James Johnson has agreed to a two-year, $5 million contract with the Toronto Raptors, league sources told Yahoo Sports.
Memphis had interest in re-signing Johnson, but he left for a return to Toronto. Utah and Houston had expressed interest too, sources said. Johnson averaged 7.4 points and 3.2 rebounds for the Grizzlies last season.
The Raptors have re-signed three of their own free agents: Kyle Lowry, Greivis Vasquez and Patrick Patterson.
Johnson played parts of 2010-12 with the Raptors.
Johnson was the 16th overall pick by the Chicago Bulls out of Wake Forest in 2009.
Restricted free-agent guard Greivis Vasquez has agreed to a two-year, $13 million contract to return to the Toronto Raptors, league sources told Yahoo Sports.
Vasquez emerged as an excellent complement to starting point guard Kyle Lowry and became a priority for the Raptors to keep this summer.
With the Vasquez agreement, Toronto has retained three of its key free agents this summer, including Lowry and Patrick Patterson.
Despite interest on the market, Vasquez's agent Arn Tellem and Toronto general manager Masai Ujiri worked out a deal without Vasquez needing to seriously pursue an offer sheet on the market.
Vasquez averaged 9.5 points and 3.7 points for the Raptors last season.
Vasquez, 27, came to the Raptors as part of the deal that sent Rudy Gay to the Sacramento Kings last season. The Raptors are his fourth team in four NBA seasons, including stops in Memphis and New Orleans.
In his best season, Vasquez averaged 13.9 points and nine assists in 2012-13 for New Orleans.
Superstar free agent LeBron James met with Miami Heat president Pat Riley on Wednesday in Las Vegas and left without committing to a new contract, a league source told Yahoo Sports.
No decision date has been set, a source close to James told Yahoo Sports' Marc Spears.
James and his agent Rich Paul met with Riley on the same day the Cleveland Cavaliers agreed to a three-team trade to clear enough salary-cap room to make James a maximum contract offer, opening a path for his possible homecoming, sources said. The Cavaliers are also pursuing a trade for Minnesota Timberwolves forward Kevin Love, contingent on James returning to Cleveland, sources told Yahoo Sports.
James reached out to two veteran free agents last week about joining him if he were to leave Miami, sources told Yahoo Sports. Sharp-shooting forward Mike Miller was one of them. Miller could not go back to the Heat because they amnestied him. The Cavaliers, Memphis Grizzlies, Oklahoma City Thunder and Denver Nuggets are among the teams pursuing Miller with his market price rising to $4 million to $4.5 million annually, sources said.
The Cleveland Cavaliers are pursuing a trade for Minnesota Timberwolves All-Star forward Kevin Love contingent on the signing of LeBron James, league sources told Yahoo Sports.
The Timberwolves will demand Andrew Wiggins, the Cavs' No. 1 overall pick from last month's NBA draft, be a part of any proposed deal, sources told Yahoo Sports.
The Cavs have already made a salary-cap-clearing move to create room to possibly sign James by reaching agreement on a three-team trade that will send Jarrett Jack and Sergey Karasev to the Brooklyn Nets, league sources told Yahoo Sports.
For the Cavaliers, there are no assurances James will sign with them, but he did reach out to two veteran free agents last week about joining him if he were to leave Miami, sources told Yahoo Sports. Sharp-shooting forward Mike Miller was one of them. Miller could not go back to the Heat because they amnestied him. The Cavaliers, Memphis Grizzlies, Oklahoma City Thunder and Denver Nuggets are among the teams pursuing Miller with his market price rising to $4 million to $4.5 million annually, sources said.