Timberwolves sign Mike James to four-year deal
Their summer plans don't stop there, though. They could still use a reliable outside shooter and a big man, too, who can bang around and grab some rebounds. With an overflow of guards, the Timberwolves also will see if they can pull off a trade or two.
James is getting a four-year deal that will start with a $5.215 million salary for 2006-07. That's the mid-level salary cap exception number, announced by the league Wednesday.
The luxury tax level was set at $65.42 million, and general manager Jim Stack said Minnesota is currently underneath that by about $1 million. Any team whose player payroll exceeds that figure must pay a dollar-for-dollar tax.
Strapped by big contracts and diminished market values, the Wolves must try to sort out their crowded backcourt. Rookie Randy Foye isn't going anywhere, but the other combination guard, veteran Troy Hudson, has not been fully healthy since 2003 and still has four years left on his deal. Another disappointing point guard, Marko Jaric, has five seasons remaining on his contract.
Stack, speaking by phone from a summer league game in Las Vegas, even said unrestricted free agent point guard Marcus Banks was not completely out of the picture -- though acknowledging it was unlikely he would be signed.
"We're in conversation with Marcus, but he's looking around as well so it remains to be seen how that's going to play itself out," Stack said. "If we move a guard in another direction, he may be a guy that we could go back to but that's hard to say right now."
Minnesota offered Banks a contract, but he didn't bite. In simultaneous discussions with the agents for both him and James, Stack said, the Wolves wound up wooing James, who is far more polished.
James was introduced at a Thursday afternoon news conference. Stack predicted that the 31-year-old would complement perennial All-Star forward Kevin Garnett well.
Last season with Toronto, his fifth in the league, James averaged a career-best 20.3 points and 5.8 assists for the Raptors. The Wolves are his seventh NBA team.
"We felt like we needed a guy with some swagger," Stack said. "That's one thing people know Mike James to be: A guy who's not afraid to step up in the fourth quarter."
The Associated Press and SportsTicker contributed to this report.