1:40pm: Watford’s promotion and Smith’s release are now official, according to an announcement from the Trail Blazers. Portland now has an open two-way slot.
11:40am: The Trail Blazers have reached an agreement on a deal with rookie forward Trendon Watford that will promote him from his two-way contract to the 15-man roster and give him a new four-year contract, reports ESPN’s Adrian Wojnarowski (via Twitter).
According to Wojnarowski, Portland will waive guard Dennis Smith Jr. in order to create an opening on the 15-man roster for Watford. Smith is currently sidelined due to an elbow injury.
Watford’s new four-year contract will be worth $5.8MM, says Wojnarowski. The Blazers will dip into their mid-level exception in order to go up to four years and to give the 21-year-old a salary worth a little more than the prorated minimum for the rest of 2021/22 — the remaining three years will be worth the minimum. Additionally, the final two seasons of the deal will be…
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