NBA Free Agency began officially as of midnight ET July 1st.
Here are the transactions that took place in the wee morning hours, care of ESPN.com:
11:17 p.m. CT: ESPN’s Marc Stein reported that guard Bradley Beal and the Washington Wizards are nearing an agreement on a five-year deal worth $130 million. Stein’s sources tell him that both sides hope to have the contract terms hashed out by later today.
11:45 p.m. CT: ESPN’s Chris Broussard has been told that free-agent center Joakim Noah is closing in on a contract worth $72 million over four years with the New York Knicks. Noah will join former Chicago Bulls teammate Derrick Rose in New York City if the deal is finalized.
11:52 p.m. CT: ESPN’s Chris Broussard is reporting that point guard Brandon Jennings will be hosted by the Brooklyn Nets for a workout later today. Jennings played for both Detroit and Orlando last season.
12:21 a.m. CT: Former Cleveland Cavalier center Timofey Mozgov will be a Los Angeles Laker in 2016. Mozgov played only 76 total minutes in this year’s playoffs but reached a verbal agreement on a four-year deal worth $64 million, a source told ESPN. The deal was first reported by The Vertical.
1:09 a.m. CT: All-Star DeMar DeRozan returns North to the Toronto Raptors, a source tells ESPN’s Brian Windhorst. The agreed-upon contract totals five years, $139 million-plus, as reported by The Vertical.
2:40 a.m. CT: The Portland Trail Blazers have offered former Dallas Mavericks forward Chandler Parsons a $94.8 million max contract, via ESPN’s Tim MacMahon. Parsons will take a meeting with the Memphis Grizzlies later today.
3:31 a.m. CT: Man-child Andre Drummond and Stan Van Gundy’s Detroit Pistons are close to a five-year maximum contract in the $130 million range, according to ESPN’s Marc Stein.