What happened: The New York Knicks and Los Angeles Lakers are linked to Jonas Valanciunas as the Denver Nuggets approach his July 8 guarantee deadline. Denver can trade him, retain him at $10 million or waive him with $2 million guaranteed.

Why it matters: A waiver would make Valanciunas accessible to New York, which has about $6.5 million available for two roster spots after adding Andre Drummond. Los Angeles also needs proven size, while a move to Europe remains possible.

What to watch: Watch whether Denver finds a trade before Wednesday or waives Valanciunas, opening negotiations with NBA and European teams.