The Clippers officially signed unrestricted free agents Spencer Hawes and Jordan Farmar Thursday night after the moratorium ended.
Hawes, the sharpshooting 7' 26-year-old who is expected to be the Clippers third big, signed a deal for 4 years and $22.65 million, the full value of the non-taxpayer mid-level exception. He is expected to have a player option for the fourth and final year.
Farmar, a two-time NBA champion who will fill the void at backup point guard, signed for a two year deal for just under $4.25 million, the full value of the bi-annual exception. Farmar will also reportedly have a player option for his final season.
This is relative non-news for the Clippers, as reports of these signings were leaked days ago. However, this is the first that teams could officially sign contracts and announce these signings to the media and fans.
The most significant outcome of this is that Spencer Hawes has been signed outright. There was some rumor, and much speculation, that the Clippers were interested in turning Hawes' deal into a sign-and-trade with Cleveland, which would allow the Clippers to retain their mid-level exception for use on another free agent.
However, Cleveland would have to agree to such a deal, and completing any such salary-adding trade before LeBron James makes his free agency decision would eliminate their chances at signing their hometown hero (turned villain, perhaps). Therefore, Cleveland would at least wait until the James decides, meaning that the Clippers would have to wait that long too. Instead of keeping the Hawes deal pending until LeBron made up his mind, the Clippers have decided to go ahead with the Hawes contract now.
This doesn't completely eliminate the possibility of a sign-and-trade for the Clippers however, it just means that it won't be involving Spencer Hawes. The team could still trade for another free agent. They also have cap room to sign two more free agents for the veteran's minimum.