$1.5 billion dished out to stars as 190m Kyrie bombshell kicks off NBA free agency

An eye-watering amount of money has been spent in just one hour as NBA free agency kicked in wild style off for another year.

PHILADELPHIA, PENNSYLVANIA - MARCH 29: Kyrie Irving #2 of the Dallas Mavericks looks on during the fourth quarter against the Philadelphia 76ers at Wells Fargo Center on March 29, 2023 in Philadelphia, Pennsylvania. NOTE TO USER: User expressly acknowledges and agrees that, by downloading and or using this photograph, User is consenting to the terms and conditions of the Getty Images License Agreement. (Photo by Tim Nwachukwu/Getty Images)

The NBA’s free agency period opened at 8am AEST on Saturday morning, and it hasn’t taken long for massive deals to be locked in.

A reported $1.02 billion USD (AUD$1.53 billion) in salaries was handed out in the first hour of the window opening as franchises splashed the cash.

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It took less than an hour for the biggest free agent to be taken off the board, with Kyrie Irving agreeing a three-year, $126m USD ($189m AUD) deal to return to the Dallas Mavericks. The third year is reportedly a player option.

He’s not the only big-name player to be handed a giant contract.

Fred VanVleet landed the first max contract of the off-season with a three-year, $130m deal with the Houston Rockets, per ESPN. The 29-year-old Raptors’ star made history with the highest-ever deal for an undrafted player. The Raptors responded by immediately signing Dennis Schroder on a two-year deal.

NBA teams have committed a reported $1.02 billion in salaries over the first hour of free agency

— Sportsnet Stats (@SNstats) June 30, 2023

Free agent F Joe Ingles has agreed on a two-year, $22 million contract with the Orlando Magic, his agent Mark Bartelstein of @PrioritySports tells ESPN. An accomplished role player and presence for a young Magic roster. pic.twitter.com/LdYzJdGbcF

— Adrian Wojnarowski (@wojespn) June 30, 2023

Khris Middleton agreed on a new three-year, $102 million ($A154m) deal to stay with the Milwaukee Bucks, the third year being a player option.

Four-time NBA champion Draymond Green looked set to leave the Warriors – where he has played his entire career – but instead signed a new four-year deal worth $100m USD ($150m AUD).

Jerami Grant bagged a five-year, $160m USD ($240m AUD) deal to remain with the Portland Trail Blazers, while Kyle Kuzma has also picked up a monster deal worth $102m USD ($A154m) over four years in Washington.

And restricted free agent Cam Johnson has agreed on a four-year, $108 million ($A162m) deal to stay with the Brooklyn Nets.

Elsewhere, Aussie Joe Ingles is set to move to the Orlando Magic and has reportedly signed a two-year $22m USD contract.

Meanwhile, newly crowned NBA champion Bruce Brown will leave the Denver Nuggets and has agreed to a two-year, $45m USD deal with the Pacers, per ESPN. His previous career earnings – in total – were around $15m USD, but he is cashing in after a standout season.

Deandre Jordan will remain with the Nuggets, however, per Bleacher Report while Reggie Jackson has also reportedly signed a two-year deal worth north of $10m USD.

The Brooklyn Nets traded Joe Harris to the Detroit Pistons along with two second-round picks, per ESPN’s Adrian Wojnarowski.

Sources: Kyrie Irving’s deal is three-years, $126 million with a player option. https://t.co/xYP9JFy9F6

— Chris Haynes (@ChrisBHaynes) June 30, 2023

Boston Celtics and Kristaps Porzingis are expected to finalize a two-year, approximately $60 million extension, league sources tell @NBAonTNT, @BleacherReport.

— Chris Haynes (@ChrisBHaynes) June 30, 2023

Harris has $19.9 million left on his contract, which runs out at the end of the upcoming season, and frees up significant cap space for the Nets.

Heat guard Gabe Vincent will reportedly join the Lakers in a huge move to the West Coast after a strong finals campaign.

He has been handed a contract worth a reported $33m USD over three seasons.

Centre Jakob Poeltl has been handed a four-year, $80m USD contract to remain with the reports according to ESPN’s Adrian Wojnarowski.

Guard Jevon Carter has also reportedly signed with the Bulls on a three-year, $20m USD deal, leaving the Bucks.

Coby White is staying with the Bulls, reportedly agreeing to a three-year deal worth $40m USD.

Herb Jones will stay with the Pelicans, signing a new four-year deal for $54m USD.

Meanwhile, all eyes are on teams like the Houston Rockets, San Antonio Spurs and Sacramento Kings, who each have plenty of cap space to play with.

The Spurs look to have made one of their first deals, with free agent Tre Jones reportedly signing a two-year $20m USD contract.

Jones, 23, was drafted as the 41st pick in the second round for the 2020 draft by San Antonio.

This story originally appeared on the NY Post and is reproduced with permission.

Originally published as $1.5 billion dished out to stars as 190m Kyrie bombshell kicks off NBA free agency