Contract Details: Fernando, Herro, Nance, Adams

The Rockets used a portion of their mid-level exception to give Bruno Fernando a four-year deal and a guaranteed salary of $2,717,391 for the 2022/23 season, Hoops Rumors has confirmed. Fernando’s salary will dip to $2,581,522 for 2023/24 before rising back up to $2,717,391 for ’24/25 and increasing to $2,853,260 for ’25/26. As Michael Scotto of HoopsHype tweets, the second and third years of Fernando’s deal are non-guaranteed, while the fourth year is a team option.

Here are some details on a few more new contracts from around the NBA:

  • Tyler Herro‘s four-year extension with the Heat will pay him annual salaries of $27MM, $29MM, $31MM, and $33MM beginning in 2023/24, for a base value of exactly $120MM, tweets ESPN’s Bobby Marks. The deal also includes $2.5MM in annual incentives that are currently considered unlikely.
  • Larry Nance Jr.‘s two-year extension with the Pelicans will pay him $10,375,000 in 2023/24 and $11,205,000 in ’24/25, tweets Anil Gogna of NoTradeClause.com. Because Nance’s second-year raise exceeds 5%, he’ll be ineligible to be traded during the 2022/23 season.
  • Steven Adams‘ two-year extension with the Grizzlies features a flat base salary of $12.6MM in both 2023/24 and ’24/25, with no options or incentives, Hoops Rumors has confirmed. Adams’ new deal doesn’t exceed the extend-and-trade limits, so he’ll remain trade-eligible this season.
  • As expected, the recent contracts signed by Kaiser Gates (Nets), Brandon Rachal (Nets), and Sacha Killeya-Jones (Thunder) all included Exhibit 10 language.