The Nets have signed free agent guard Malachi Smith, the team announced today (Twitter link via Brian Lewis of The New York Post).
Smith, 25, has been playing in the G League since going undrafted out of Gonzaga in 2023. He was with the Rip City Remix and Wisconsin Herd during his rookie year and spent the 2024/25 campaign with the Memphis Hustle, appearing in 46 total games for the Grizzlies’ G League affiliate.
Smith averaged 11.4 points, 4.2 rebounds, and 3.1 assists in 25.3 minutes per game for the Hustle last season, making 50.1% of his shots from the field, including 34.7% from beyond the three-point line.
The Long Island Nets acquired Smith’s returning rights from Memphis last month, so it’s a pretty safe bet that the plan is for him to be waived in the coming days and then report to Long Island for the G League season. He’ll likely receive a small partial guarantee as part of the arrangement.
While most players who are ticketed for their teams’ NBAGL affiliates sign Exhibit 10 contracts, the Nets have been structuring their deals a little differently this fall since they don’t mind having the bonuses they pay those players count against their cap as they look to reach the NBA’s minimum salary floor. Exhibit 10 bonuses don’t carry a cap hit, but partial guarantees do.
For instance, as Keith Smith of Spotrac tweets, when signing with the Nets on Monday, Tre Scott received a standard contract with a $45K partial guarantee, while Terry Roberts got a $25K partial guarantee on his standard deal. Both Scott and Roberts were waived today, per Lewis, but those partial guarantees will continue to count against Brooklyn’s cap.