NBA Rumors: Heat's DeRozan whiff, Hawks new trade chip, Kyle Lowry signing

We aren't done with NBA Free Agency yet, folks, and the wheels are still turning on this offseason. A few blockbuster transactions have already transpired, headlined by Paul George's east-coast move and the Knicks' Villanova-flavored trade for Mikal Bridges.

More is on the horizon. Here are the latest NBA rumors to power you through the week, looking back on what could have been and hinting at what can still be.

NBA Rumors: Kyle Lowry re-signs with 76ers despite outside interest

The Philadelphia 76ers' dream offseason continues. Kyle Lowry has re-signed on a one-year contract, per ESPN's Adrian Wojnarowski. He can only sign for the veteran minimum, so this deal won't inhibit Philadelphia much on the cap front. It does, however, remove all doubt about the backup point guard position.

This always felt like the inevitable outcome. Lowry garnered interest from the Phoenix Suns and Los Angeles Clippers, according to various reports, but the Villanova product grew up in Philadelphia and he won a championship under Nick Nurse in Toronto. There was a lot tying Lowry to Philadelphia — not to mention the Sixers' superior standing compared to other suitors.

Not many teams offer Lowry a better chance to compete for his second ring. Even at 38 years old, now entering his 19th NBA season, Lowry is an impactful presence on the court. He was starting next to Tyrese Maxey in the Sixers' backcourt down the stretch of last season. What he lacks in prime athleticism and shot-making, Lowry makes up for with heady defense and insatiable competitive spirit.

Still crafty and strong as an ox, Lowry finds ways to make his presence felt on defense. His instincts are sharp and his hands are quick. He can body up wings on drives and he's still quick enough to chase ball-handlers on the perimeter. Offensively, Lowry is an efficient setup man who understands how to move without the rock and operate as a connector.

The points and assists don't come as prolifically as they once did, but Lowry is a great reserve and the perfect mentor for young guards like Maxey and Sixers rookie Jared McCain.

NBA Rumors: Hawks receiving Larry Nance Jr. trade interest

The Atlanta Hawks' toppled one of the offseason's first dominoes, trading Dejounte Murray to the New Orleans Pelicans in exchange for Larry Nance Jr., Dyson Daniels, and two first-round picks. It reads as a mediocre return on the surface, but considering how poor the Murray experience was in Atlanta, the Hawks made out well.

That doesn't mean the Hawks are done, though. Trae Young remains in place, which ostensibly means the Hawks (who don't own their 2025 first-round pick) still want to compete. A reshuffling of the deck is expected, however, with the frontcourt depth chart in sharp focus. Jalen Johnson is cemented as a long-term building block, but Atlanta has accrued a bit of a logjam at center.

Clint Capela is years past his prime and Onyeka Okongwu is due for a promotion. Both have been involved in trade rumors this summer, with Capela most frequently cited as a target for teams in need of size and physicality at the five spot. But, Nance's arrival changes the dynamic a bit. Now teams are gravitating to the newcomer in trade talks, according to NBA insider Marc Stein.

"The Hawks have been trying to trade Clint Capela for more than a year, but league sources say that the Atlanta big man drawing the most external interest is newly acquired Larry Nance Jr."

Ultimately, the ball is in Atlanta's court. Capela probably fetches the lowest return value of Atlanta's big man triumvirate, but he's also the most expensive — due $22.3 million in expiring money, compared to $11.2 million for Nance. If the Hawks want to dump salary and relieve tax burdens, it could behoove the front office to move off of Capela and let Nance play out the season as Okongwu's backup.

Nance is actually a year older than Capela, and he was far less productive last season as a reserve in New Orleans. The league-wide reticence to engage with Capela is understandable given the price tag, but without any long-term commitment, one has to believe the 30-year-old would benefit more than a few teams.

Any move Atlanta makes needs to toe the line between restocking for the future and keeping the current group competitive. The Hawks' 2025 first-round pick belongs to San Antonio, so plummeting to the bottom of the standings wouldn't benefit anybody in-house.

NBA Rumors: Heat missed on DeMar DeRozan because of hangup

DeMar DeRozan landed with the Sacramento Kings on a three-year, $74 million contract via sign-and-trade. It's one of the summer's biggest moves and a serious boost to the Kings, who fell out of contention last season despite a competitive roster built around two All-Star snubs in Domantas Sabonis and De'Aaron Fox.

The West is stacked, and the offseason arms race has been incredible to behold. There's a similar, if slightly less enormous, trend occurring in the East, too. The Boston Celtics are the undeniable frontrunners, but both Philadelphia and New York managed star-level additions. The Miami Heat are a team on the bubble, hovering perilously close to obscurity as Jimmy Butler ages out of his prime.

A big splash would have done Miami a lot of good. The Heat were interested in DeRozan, per ESPN's Bobby Marks, but there was a hangup. Nobody wanted to take on Duncan Robinson's remaining contract — two years, $39.3 million — which left sign-and-trade talks dead in the water.

It's a tough break for Miami, although I'm unconvinced pairing two 34-year-old wings who dominate the ball and don't space the floor is an optimal strategy. Robinson was quite productive last season, but the new CBA makes teams more weary of long-term, big-money contracts. Robinson isn't worth almost $20 million annually in today's market, and thus, he's hamstringing Miami's flexibility.

There's still a chance for Miami to make a splash, but it's getting increasingly difficult to envision the Heat accomplishing much of note next season.