A 2021 offseason preview for the Charlotte Hornets

The Hornets didn’t snap their playoff drought in 2021, but a year later, their outlook is considerably brighter. That turnaround can be attributed in large part to nailing the No. 3 pick in the 2020 draft. LaMelo Ball became the NBA’s Rookie of the Year and looks like the best bet of any 2020 draftee to eventually make an All-Star team.

Charlotte also added forward Gordon Hayward on a four-year, $120M contract during 2020’s free agent period. The deal was widely viewed as an overpay, and it’s possible the Hornets will end up regretting it in a year or two. Still, it was an encouraging sign that the franchise was able to land one of the summer’s top free agents, beating out the Pacers and Knicks, among others.

Ball and Hayward both missed time due to injuries in 2020-21, but the club still earned a play-in spot in the East and has the flexibility to continue upgrading its roster this summer. The Hornets aren’t exactly legit contenders yet, but things in Charlotte don’t look as bleak as they did at this time last year.

The Hornets’ Offseason Plan:

The Hornets will face important decisions on free agent guards Malik Monk and Devonte’ Graham, both of whom are eligible for qualifying offers that would make them restricted FAs. Both Monk and Graham have value, and ideally Charlotte wouldn’t let them get away for nothing, but Ball’s emergence and Terry Rozier‘s impressive performance in 2020-21 have given the team some options. If Monk, for instance, needs to be renounced to open up some cap room, there’s enough backcourt depth on the roster to withstand the loss.

Besides addressing the backcourt, the Hornets will prioritize the center position. Cody Zeller and Bismack Biyombo are headed to unrestricted free agency, and while it’s possible the club will look to bring one of them back as a reserve on a modest contract, Charlotte will be aiming higher in its search for frontcourt help.

Richaun Holmes, Andre Drummond, and Nerlens Noel are among the players the Hornets could pursue in free agency. The trade market offers some intriguing options as well, including Pacers center Myles Turner, who has frequently been linked to Charlotte and could once again be on the trade block this offseason. Getting a player who can knock down threes like Turner would be great, but the Hornets really just need someone who can protect the basket on defense and be a rim-running partner for Ball on offense.

Rozier and Miles Bridges are the Hornets’ two most notable extension-eligible players. The team’s decision on Rozier may be tied to how Graham’s free agency plays out — if Graham returns, it would cast more uncertainty on Rozier’s long-term future with the franchise. Bridges, meanwhile, looks like a keeper on the wing, and I imagine Charlotte will try to sign him to an extension this offseason if the price is right.

Salary Cap Situation

Note: Our salary cap projections are based on a presumed 3% increase, which would result in a $112.4M cap for 2021/22.

Guaranteed Salary

• Gordon Hayward ($29,925,000)
• Terry Rozier ($17,905,263)
• Nicolas Batum ($9,043,478) — Waived via stretch provision.
• LaMelo Ball ($8,231,760)
• Miles Bridges ($5,421,493)
• P.J. Washington ($4,215,120)
• Vernon Carey ($1,517,981)
• Nick Richards ($1,517,981)
• Total: $77,778,076

Player Options

• None

Team Options

• None
  

Non-Guaranteed Salary

• Caleb Martin ($1,782,621) ¹
• Cody Martin ($1,782,621) ²
• Jalen McDaniels ($1,782,621) ³
• Total: $5,347,863

Restricted Free Agents

• Malik Monk ($7,031,451 qualifying offer / $16,037,061 cap hold): Bird rights
• Devonte’ Graham ($4,736,102 qualifying offer / $4,736,102 cap hold): Bird rights
• Brad Wanamaker ($2,812,500 qualifying offer / $2,812,500 cap hold): Non-Bird rights
• Total (cap holds): $23,585,663

Two-Way Free Agents

• Nate Darling
• Grant Riller

Draft Picks

• No. 11 overall pick ($4,154,400)
• No. 56 overall pick (no cap hold)
• No. 57 overall pick (no cap hold)
• Total: $4,154,400

Extension-Eligible Players

• Miles Bridges (rookie scale)
• Caleb Martin (veteran)
• Cody Martin (veteran)
• Jalen McDaniels (veteran)
• Terry Rozier (veteran)

Unrestricted Free Agents / Other Cap Holds

• Cody Zeller ($23,123,595): Bird rights
• Bismack Biyombo ($6,650,000): Bird rights
• Total: $29,773,595
  

Offseason Cap Outlook

The Hornets will likely dip below the cap this offseason, especially if they don’t re-sign Monk, or bring him back on a salary far below his $16M cap hold.

If Charlotte were to renounce Monk, bring back the three players with non-guaranteed salaries, and account for cap holds for Graham and the No. 11 pick, they could create more than $20M in cap room. Waiving some of the non-guaranteed money would bump that figure up slightly, while re-signing Monk would cut into it.

Cap Exceptions Available

• Room exception: $4,910,000 ⁴

Footnotes

1. Martin’s salary becomes fully guaranteed at some point in mid-August (exact date TBD).
2. Martin’s salary becomes fully guaranteed at some point in mid-August (exact date TBD).
3. McDaniels’ salary becomes fully guaranteed at some point this summer (exact date TBD).
4. This is a projected value. If the Hornets operate over the cap, they’d have the mid-level exception ($9.5M) and the bi-annual exception ($3.7M) available.

Salary and cap information from Basketball Insiders, RealGM, and ESPN was used in the creation of this post