The Jimmy Butler saga is over! It was a complicated five-team deal in the end that saw a lot of player and draft pick movement.

Here are the particulars:

Golden State Warriors acquire: Jimmy Butler

Miami Heat acquire: Andrew Wiggins, Kyle Anderson, Davion Mitchell, 2025 Warriors top-10 protected first-round pick

Detroit Pistons acquire: Dennis Schroder, Lindy Waters III, least favorable 2031 Warriors or Timberwolves second-round pick

Utah Jazz acquire: KJ Martin, Josh Richardson, least favorable 2028 Pistons, Hornets, Clippers, Heat or Rockets second-round pick, most favorable 2031 Pacers or Heat second-round pick, Cash

Raptors acquire: P.J. Tucker, 2026 Lakers second-round pick, Cash

Let’s dive in!

Golden State Warriors

Incoming salary: $48.8 million in 2024-25

• Jimmy Butler (SF, two years, $101.2 million (final year player option))
• Note: Butler declined his player option for 2025-26 and signed a two-year, $112.5 million extension

Outgoing salary: $50.3 million in 2024-25

• Andrew Wiggins (SF, three years, $84.7 million (final season player option))
• Dennis Schroder (PG, one year, $13 million)
• Kyle Anderson (PF, three years, $27.7 million (final season fully non-guaranteed))
• Lindy Waters III (SG/SF, one year, $2.2 million)

The Warriors were committed to landing a star at this deadline. And they wanted to do so without giving up multiple first-round picks or Jonathan Kuminga.

Mission accomplished.

Butler comes in and seems very happy to be in the Bay Area. That’s a huge plus, given we know what happens when Butler isn’t happy. Part of the reason Butler is happy is to be out of Miami. The other part is the shiny new $112.5 million extension that he signed with the Warriors.

This trade probably doesn’t happen without Butler’s willingness to sign that extension. Sure, you can quibble about spending that kind of money for a 36-year-old perimeter player who has averaged 22 missed games per season over his past three full seasons. That deal probably won’t look good in Year 3.

But for the Warriors, you let tomorrow’s problems be tomorrow’s problems. They wanted to give Stephen Curry, Draymond Green and Steve Kerr help to make another run. Butler does that.

Butler isn’t a shooter. That means Golden State will need to keep Curry and at least one or two other shooters on the floor when Butler and Green share the floor. But that’s about the only weakness in Butler’s game.

The veteran wing is still an outstanding creator, both for himself and his teammates. Butler excels in getting to his spots for midrange jumpers, and he’s still a strong finisher around the rim. He’s also terrific at setting up teammates. His skill-set should fit in quite well within the Warriors read-and-react system.

On defense, Butler is better defending bigger wings at this point in his career. He’s not quite as versatile as Andrew Wiggins, who he’s replacing, but Butler is still an above-average defender.

Giving up a first-round pick was a bit rough, but the Warriors don’t really have time for developmental projects. They’d rather use that roster spot in the coming years on a veteran addition that can give them productive minutes now.

Golden State has some more roster work to do. They started that process by converting Quinten Post from his two-way deal to a standard contract. Post has played well and gives the Warriors a stretch-five element that they’ve lacked.

Golden State still has three more open standard roster spots (they’ll have to fill at least two of them eventually), and now and open two-way spot. Because they are only $1.37 million under their first-apron hard cap, expect the Warriors to play some roster games with 10 Day deals until making rest-of-season signings late in the regular season.

Miami Heat

Incoming salary: $41.5 million in 2024-25

• Andrew Wiggins (SF, three years, $84.7 million (final season player option))
• Kyle Anderson (PF, three years, $27.7 million (final season fully non-guaranteed))
• Davion Mitchell (PG, one year, $6.5 million)

Outgoing salary: $51.9 million in 2024-25

• Jimmy Butler (SF, two years, $101.2 million (final year player option))
• Josh Richardson (SG/PG, one year, $3.1 million)

Considering the Heat were backed into a corner with trading Jimmy Butler, they did pretty well here. Miami saved a good amount of money in the near term, while adding three helpful players.

Andrew Wiggins is a good player and should fit in well alongside Bam Adebayo and Tyler Herro in the Heat’s starting lineup. Don’t be surprised to see Wiggins push back to nearly 20 points per game in Miami’s equal opportunity offensive system. The veteran wing is also a solid defender, who adds some versatility to Erik Spoelstra’s defensive schemes.

Davion Mitchell just seems like a Heat player. Given all the off-court uncertainty with Terry Rozier III, and his slipping on-court production, Mitchell could be a long-term player in Miami. He’s a bulldog defensively and showed some playmaking skills for Toronto at points this season. At the very least, Mitchell will be the best backcourt defender on the roster.

It’s unknown what kind of role Kyle Anderson will play. Early reports were that Miami was trying to move Anderson on to another team, but was unable to do so. The 12th-year forward is a solid connector on offense. He moves the ball well and he can hit the occasional jumper too. Anderson is also a solid defender. Don’t be surprised if Spoelstra finds a way to work him into his rotation.

Getting the Warriors first-round pick is a nice addition in this deal for the Heat. Miami has drafted well in the back half of the first round previously. This pick will likely convey this year in the mid-to-late teens. That’s good, given Miami has been out some draft picks in recent years.

Butler put the Heat in a nearly impossible situation. There was no way they could bring him back. That would have been a disaster for all parties involved. Now, the team can move forward with some solid players, some roster certainty and hopefully far less drama.

Detroit Pistons

Incoming salary: $15.2 million in 2024-25

• Dennis Schroder (PG, one year, $13 million)
• Lindy Waters III (SG/SF, one year, $2.2 million)

Outgoing salary: $7.9 million in 2024-25

• KJ Martin (PF/SF, two years, $16 million (final season non-guaranteed))
• Note 1: We’ll also cover the Pistons acquiring KJ Martin from the Philadelphia 76ers here in a previous trade
• Note 2: The Pistons waived Wendell Moore Jr. to create the roster space to complete these moves

Detroit did well with their cap space. For a little bit, it looked like Trajan Langdon was going to eat a couple of a salaries for assets. That would have been fine, but a late swerve brought in Dennis Schroder as a helpful rotation player. Don’t count out Lindy Waters III either.

In this five-team deal and the earlier deal with the Sixers, the Pistons added a sum total of two new second-round picks (three in, one out). But this wasn’t just about the picks for a change. Detroit added roster help too.

Schroder will play an immediate role for the Pistons as a backup ballhandler. With Jaden Ivey out for a while longer (Ivey could return before the end of the regular season), JB Bickerstaff really needed another on-ball playmaker. Too much of the burden to create everything was falling on Cade Cunningham. If the Pistons want to make a real run at the playoffs, they can’t burn out Cunningham in the regular season.

That’s where Schroder will help. He’s still a good scorer, and he’s a far better fit in the Pistons pick-and-roll heavy offense than the Warriors read-and-react system. Schroder will work the screen games to get downhill, to get to his pullup or to set up teammates.

Waters is a shooter. On nights when Malik Beasley or Tim Hardaway Jr. are out or off the mark, Bickerstaff can go to Waters.

The mechanics of the Pistons deadline maneuvering were fascinating too. Detroit entered the day with $14 million in cap space. They first used some of that space to acquire KJ Martin in a salary-shedding move from the 76ers. Detroit then flipped Martin to the Jazz in this five-team deal, with Schroder eating up most of the remaining cap space. Waters was then acquired via the Minimum Exception. Crucially, this sequence of moves left the Pistons with the full $7.9 million Room Exception. That could be handy to help Langdon outbid rivals during buyout season.

For the 76ers part in the previous trade of Martin to Detroit, they got a minimal amount of cash. The real get for Philadelphia was getting under the luxury tax for this season.

Utah Jazz

Incoming salary: $11 million in 2024-25

• KJ Martin (PF/SF, two years, $16 million (final season non-guaranteed))
• Josh Richardson (SG/PG, one year, $3.1 million)

Outgoing salary: $11.5 million in 2024-25

• P.J. Tucker (PF, one year, $11.5 million)
• Note: The Jazz waived Jalen Hood-Schifino to create the roster space  to complete this trade

The Jazz jumped into this deal to act as a facilitator, while picking up some additional draft capital. In addition, Utah will take a flyer on Martin for the remainder of this season. As his contract is non-guaranteed for 2025-26, the Jazz can move on at no cost this summer, if Martin doesn’t work out.

Martin is an uber-athletic forward. He should get a chance to show what he can do, as Utah has regularly been holding their veteran players out of games. Given the Jazz chances at good lottery odds, don’t expect that to stop anytime soon. That will give Martin the opportunity to show he can be someone worth keeping around beyond this season.

Richardson will reportedly be waived. He could still help a team that needs some backcourt help. The challenge for Richardson has been getting and staying healthy this season.

Toronto Raptors

Incoming salary: $11.5 million in 2024-25

• P.J. Tucker (PF, one year, $11.5 million)

Outgoing salary: $6.5 million in 2024-25

• Davion Mitchell (PG, one year, $6.5 million)

The Raptors used some of their space under the luxury tax to help facilitate this trade. In exchange for taking on Tucker’s salary, Toronto picked up a second-round pick.

Trading Mitchell might seem like a giveaway, but Toronto wants to give the backup point guard minutes to rookie Jamal Shead. Considering Shead is younger version of Mitchell in many ways, it makes sense to prioritize playing time for the rookie.

It’s expected the Raptors will eventually waive Tucker. Toronto is in the midst of churning the bottom of their roster, including promoting Jamison Battle from his two-way contract.

The Philadelphia 76ers added some guard depth on a two-way contract, while clearing out some salary and adding some second-round draft capital. The Wizards used some of their tax room to eat a salary, while adding a first-round pick.

Here are the particulars:

Philadelphia 76ers acquire: Jared Butler (two-way player), most favorable of 2027 Warriors or Suns second-round pick, 2028 Warriors second-round pick, 2030 Warriors second-round pick, most favorable of 2030 Suns or Trail Blazers second-round pick

Washington Wizards acquire: Reggie Jackson, least favorable of 2026 Rockets, Clippers or Thunder first-round pick

Let’s dive in!

Philadelphia 76ers

Incoming salary: None (two-way players count as $0 in trade)

Outgoing salary: $2.1 million in 2024-25

• Reggie Jackson (PG, one year, $2.1 million)

Jackson had been a rotation regular for Nick Nurse, but the Sixers have a decent amount of point guard depth. This move was part of a series of moves to that helped Philadelphia to get under the luxury tax line.

In addition to getting under the tax, the Sixers picked up four future second-round picks in exchange for a first-round pick. That’s adding to the coffers long-term.

Lastly, let’s not overlook the addition of Butler. He’s an NBA-caliber backup point guard. Don’t be surprised if Butler is eventually converted to a standard contract by the Sixers before the send of the season.

Washington Wizards

Incoming salary: $2.1 million in 2024-25

• Reggie Jackson (PG, one year, $2.1 million)

Outgoing salary: None (two-way players count as $0 in trade)

This one is pretty simple from the Wizards side. They use some of their considerable space under the luxury tax, plus a bunch of extra second-round picks to add another first-round pick. That’s solid work.

Jackson was waived. He’s got enough left in the tank to help a playoff team that needs some point guard depth. Look for Jackson to catch on with someone on a rest-of-season contract.

The Houston Rockets used some of their room under the luxury tax to pick up a couple of second round picks. The Boston Celtics saved $15 million in luxury tax payments by moving off a non-rotation player.

Here are the particulars:

Houston Rockets acquire: Jaden Springer, 2026 Pelicans or Trail Blazers second-round pick, 2030 Celtics second-round pick

Boston Celtics acquire: 2031 top-55 protected Rockets second-round pick

Let’s dive in!

Houston Rockets

Incoming salary: $4 million in 2024-25

• Jaden Springer (SG, one year, $4 million)

Outgoing salary: None

The Rockets had about $10.5 million in space under the luxury tax. As such, they used a portion of the Non-Taxpayer MLE to bring in Jaden Springer. Houston subsequently waived Springer.

Essentially, the Rockets spent $4 million to buy two second-round picks from Boston.

Springer is a solid defensive player, but his lack of offense has kept him from progressing forward. That said, he’s young enough that a rebuilding team should take a look at him for the rest of the season.

Boston Celtics

Incoming salary: None

Outgoing salary: $4 million in 2024-25

• Jaden Springer (SG, one year, $4 million)

This was all about saving some money for the Celtics. Boston got off $4 million in salary by trading Springer, who wasn’t a regular rotation player. But the real savings came with the luxury tax. Because the Celtics are so deep into the tax, they saved about $15 million in tax penalties with this move.

Boston has a deep roster, and they should be in position to acquire second-round pick down the line, should they need them. The Celtics already re-invested some of the saving by agreeing to a contract with veteran wing Torrey Craig.

The NBA trade deadline has passed. For most, that means it’s time to take a breath and reset. For NBA front offices, they get right back to work.

The buyout market is the less-glamorous cousin to the trade deadline. With what an insane blockbuster-filled deadline we’ve head, the 2025 buyout market seems even less-glamorous than usual.

That said, there will still be some recognizable names on the buyout market…maybe.

As they were a season ago, teams are working under new rules in the buyout market. Gone are the days of the most expensive teams filling out their roster by snagging a high-salaried player who gave up the equivalent to a prorated veteran minimum to chase a ring.

Under the current CBA, teams who are over the first or second apron are restricted from signing a player after a buyout (or waiver) whose previous contract was greater than the Non-Taxpayer MLE for the current season. For this year, that’s $12,822,000.

So, on one side, you have a handful of contenders out of the mix to add a formerly high-salaried player. On the player side, they may be less likely to take a buyout if their options for the next team are limited.

For example, if you are making $20 million-plus, but your options are limited of where to go next, you may be better off staying where you are. This is especially true of players who have full Bird Rights as a free agent in the summer of 2025. That could lock in a bigger contract via re-signing or sign-and-trade than is prudent to give up by taking a buyout.

The same is true for teams. If they are capped out, they might prefer to have a player on an expiring deal, as opposed to buying them out. Similar to the player side, a team would rather be able to use that player’s Bird Rights to bump up their salary in an outgoing sign-and-trade deal.

So, if you add it all up, this buyout market could look vastly different from previous ones. Several players will still hit the market, as their contract situations now and moving forward won’t prevent them from taking a buyout.

As of this writing, the following teams are over the first or second apron and will be restricted from signing a player who makes more than $12,822,000 currently:

• Boston Celtics
• Denver Nuggets
• Los Angeles Lakers
• Milwaukee Bucks
• Minnesota Timberwolves
• New York Knicks
• Phoenix Suns

In addition, the Dallas Mavericks and Golden State Warriors are so tight to the first apron (at which they are hard-capped), they’re unlikely be heavily involved in the buyout market (pending additional moves).

Lastly, it’s important to remember that a lot of buyout players are more name than game. As one NBA GM put years ago, “There’s a reason they’re available in the middle of the season for the minimum.”

With all of that said, here are some of the players to keep an eye in the 2025 buyout market!

(Note: This list is presented in alphabetical order. Players with a * are restricted from signing with an apron team due to the rules explained above.)

Marvin Bagley III (Memphis Grizzlies, C/PF, 26 years old)

Remaining Salary: $12.5 million

Bagley’s salary slides in right under the threshold for an apron team. Teams looking for frontcourt depth might be interested in bringing the veteran big man in for a rest-of-season look. Memphis could also keep Bagley, but they are flush in frontcourt depth as it is. This one screams traditional buyout scenario.

Bojan Bogdanovic (Brooklyn Nets, SF/PF, 36 years old) *

Remaining Salary: $19 million

Bogdanovic hasn’t played this season, but teams know what he’s capable of. If the Nets move on because of a need for a roster spot (they have some interesting two-way conversion candidates in Tyrese Martin and Tosan Evbuomwan), Bogdanovic could be bought out or waived. At this point, contenders who need a shooter with size might take a look.

Malcolm Brogdon (Washington Wizards, PG/SG, 32 years old) *

Remaining Salary: $22.5 million

Brogdon would normally be a great candidate for a buyout. Given that he can’t join any of the apron teams, Brogdon would need to have something lined up to join a non-apron contender. On Washington’s side, the Wizards already project to have cap space this summer. That makes Brogdon’s Bird Rights less valuable for them. But those Bird Rights are still valuable to Brogdon. He may not want to give them up.

Bruce Brown (New Orleans Pelicans, SG, 28 years old) *

Remaining Salary: $23 million

Brown is being traded to the Pelicans in a deal that sends Brandon Ingram to the Toronto Raptors. New Orleans is rebuilding and has high-priority players at Brown’s position. But the Pelicans don’t plan to stay down for long. That means Brown’s Bird Rights have value. Call this a 50-50 situation at best.

Torrey Craig (Chicago Bulls, SG/SF, 34 years old)

Previous Salary: $2.8 million

Craig was waived to allow Chicago to complete their three-team deal with the San Antonio Spurs and Sacramento Kings. Craig has dealt with a lot of injuries this season. He’s also getting a bit long in the tooth. But when he’s right, Craig can give a team a 3&D wing presence. Someone might give him a look on a rest-of-season contract.

UPDATE - Agreed to signed with Boston (2/6/25)

Seth Curry (Charlotte Hornets, PG/SG, 34 years old)

Remaining Salary: $2.1 million

This one is really about if the Hornets need a roster spot or not. Moussa Diabate and K.J. Simpson are candidates to be converted to a standard contract from their two-way deals. If that happens, Curry could be a roster casualty. From there, Curry could head off to ring chase with a contender in need of some bench shooting.

Reggie Jackson (Washington Wizards, PG, 35 years old)

Remaining Salary: $2.1 million

Jackson was moved to the Wizards in a salary-clearing move by the Philadelphia 76ers. There’s no real place for Jackson with Washington. He’s likely to be waived. From there, he could catch on with a playoff team that needs some backcourt depth.

Tre Jones (Chicago Bulls, PG, 25 years old)

Remaining Salary: $9.1 million

Jones is a high-quality backup point guard. Teams are always looking for depth at that position. In addition, the Bulls have a bunch of other guards, including ones they have an investment in. Keep an on Jones popping free.

Vasilije Micic (Phoenix Suns, PG, 31 years old)

Remaining Salary: $7.7 million ($8.1 million team option for 2025-26)

Micic is now caught up in a quagmire of point guards in Phoenix. The Suns aren’t likely to have a need for both him and Monte Morris as depth at point guard. That could see Micic set free. From there, it’s 50-50 if he’d sign with another NBA team or return back to Europe, where he was a star.

Monte Morris (Phoenix Suns, PG, 29 years old)

Remaining Salary: $2.1 million

See above, then note: Morris has fallen out of the Suns rotation. He’s on a Veteran Minimum deal already, so there won’t be a buyout here. But if Phoenix thinks they have more of a need and need a roster spot. Morris could be a straight waiver candidate. He can still play, so a team in need of a point guard could sign Morris, or even claim his deal, given his Minimum status.

Chris Paul (San Antonio Spurs, PG, 39 years old)

Remaining Salary: $10.5 million

We’re only including Paul because he’s been bandied about as a buyout candidate, given the Spurs acquisition of De’Aaron Fox. Don’t bet on that happening. The Spurs love what Paul has brought them. They think playing him and Fox together is fine for the rest of the season. If Paul did shake loose, he’d vault to the top of the available point guard rankings.

Cam Reddish (Charlotte Hornets, SF/SG, 25 years old)

Remaining Salary: $2.5M

Reddish was thrown in to the deal that brought Dalton Knecht from the Los Angeles Lakers to the Charlotte Hornets for Mark Williams. That was to get to the Lakers off some salary and to open a roster spot. Given all the injuries on the wing in Charlotte, Reddish could get a chance to play. This one will come down to if the Hornets need an open roster spot or not. If waived, Reddish could link up with a team that wants to see if they can finally pull the 3&D player out of the 25-year-old wing.

Josh Richardson (Utah Jazz, SG/PG, 31 years old)

Remaining Salary: $3.1 million

Richardson is being moved to the Jazz for salary-matching/clearing purposes in the Jimmy Butler trade. He hasn’t been able to play much this season due to injuries. Utah doesn’t have a need for Richardson, especially given the injury issues. If Richardson is healthy, he could help a contender that needs a combo guard on their bench.

Ben Simmons (Brooklyn Nets, PG, 28 years old) *

Remaining Salary: $40.3 million

Simmons is a possible buyout candidate, but a lot will depend on the Nets situation. If Brooklyn needs a roster spot (they have some interesting two-way conversion candidates), they could look to buy out or waive Simmons. There’s also a chance Brooklyn and Simmons would rather use his Bird Rights for something bigger this coming summer.

Daniel Theis (Oklahoma City Thunder, C, 33 years old)

Previous Salary: $2.1 million

The Thunder waived Daniel Theis after eating his contract to help the New Orleans Pelicans get under the luxury tax. Oklahoma City wanted to open a roster spot to convert Ajay Mitchell to a standard contract. That’s where this likely heads eventually for the Thunder.

P.J. Tucker (Toronto Raptors, PF, 39 years old)

Remaining Salary: $11.5 million

Tucker is probably going to get straight waived by the Raptors, without a buyout. It’d be surprising if any team signs him, because Tucker hasn’t played in nearly a year. At this point, the veteran forward epitomizes the “more name than game” philosophy.

Delon Wright (New York Knicks, PG, 33 years old)

Remaining Salary: $2.1 million

Wright is about the eighth point guard on the Knicks. That’s a bit of an exaggeration, but not by much. He could be set free to join a team where he’d see more time. However, Wright lost his role as the Milwaukee Bucks backup point guard this season. There might not be much left in the tank here.

Lonnie Walker IV (Zalgiris (Lithuania), SG, 26 years old)

Remaining Salary: N/A

We’re adding Walker here, because there is considerable interest in him from NBA fans. Walker has an NBA out with Zalgiris that has to be triggered by February 18, per reports. If triggered, Walker would presumably be signing a rest-of-season minimum deal. However, it’s worth noting that Walker has struggled against EuroLeague competition. He’s shot 38.5% in 18 EuroLeague games, including 33.6% on three-pointers. For a player whose primary value is his shooting and scoring, that’s worrisome for a potential return to the NBA.

The Sacramento Kings got creative with their exceptions to add a long-wanted backup for Domantas Sabonis. The Washington Wizards picked up some additional draft capital for moving along a short-term veteran.

Here are the particulars:

Sacramento Kings acquire: Jonas Valanciunas

Washington Wizards acquire: Sidy Cissoko, 2028 Nuggets second-round pick, 2029 Kings second-round pick

Let’s dive in!

Sacramento Kings

Incoming salary: $9.9 million in 2024-25

• Jonas Valanciunas (C, three years, $30.3 million (final season non-guaranteed))

Outgoing salary: $1.9 million in 2024-25

• Sidy Cissoko (SF/PF, two years, $4.1 million (2025-26 non-guaranteed))

The Kings had been searching for a viable backup for Domantas Sabonis for a few years. Alex Len has been serviceable, but is more of a third string center. Trey Lyles does what he can, but he’s a pure stretch four.

Jonas Valanciunas should more than capably fill that backup role. There are even some potential lineups constructions where Valanciunas could play alongside Sabonis in a double-big look.

This season, Valanciunas has adapted well to being a backup on the rebuilding Wizards. The veteran center is still an effective scorer, screener and rebounder. Washington mostly used him as a protector for Alex Sarr and to help set a tone off the bench.

With the Kings, Valanciunas will probably play less than he did with the Wizards. But less may be more, as Valanciunas should be able to play his physical, rugged style without worry of foul trouble or conserving energy for longer minutes.

The mechanism used to acquire Valanciunas saw Sacramento take advantage of the new rules that allowed them to use a portion of their Non-Taxpayer MLE as a Traded Player Exception. That allows the Kings to keep the big $16.8 million TPE that they created in the Kevin Huerter trade whole. Considering the MLE expires at the end of the season, this is solid use of it as a TPE.

Sacramento still has two open roster spots. They’ll have to fill one within the next couple of weeks. The Kings are about $2.5 million under the luxury tax, which will act as a de facto hard cap for the team.

While Sacramento isn’t quite good enough to pay the tax for this group, they have improved their team quite a bit over the last few days. That’s a hard needle to thread when you trade a former franchise player, but the Kings have pulled it off.

Washington Wizards

Incoming salary: $1.9 million in 2024-25

• Sidy Cissoko (SF/PF, two years, $4.1 million (2025-26 non-guaranteed))

Outgoing salary: $9.9 million in 2024-25

• Jonas Valanciunas (C, three years, $30.3 million (final season non-guaranteed))

We aren’t going to focus much on getting Sidy Cissoko for the Wizards. Reports are that he’ll be waived, if he’s not moved in a subsequent trade before the deadline.

This deal for Washington was about adding some additional draft capital. Jonas Valanciunas didn’t turn into a first-round pick, but getting two seconds for him is solid work.

The Wizards are still in the early stages of their rebuild. That means collecting assets. This one came in somewhat unconventional means, as Valanciunas was added via sign-and-trade this past offseason. But that’s the kind of creative, forward-thinking move you have to make when rebuilding.

The time Valanciunas spent in Washington also allowed the team to not have to force Alex Sarr to start at center until he was ready. And going against Valanciunas in practices for a half-season has helped Sarr.

With Valanciunas off the books, the Wizards project to be a cap space team this coming offseason. Effectively, Washington is shedding $10 million off their 2025-26 books by trading Valanciunas, but they’ll likely take on around that much when they complete the trade that swaps Khris Middleton for Kyle Kuzma.

It wouldn’t be an NBA trade deadline without Sam Presti coming away with at least one future draft pick. That’s exactly what happened, as the Oklahoma City Thunder and New Orleans Pelicans linked up in a small deal.

Here are the particulars:

Oklahoma City Thunder acquire: Daniel Theis, less favorable 2031 Pelicans or Magic second-round pick

New Orleans Pelicans acquire: Cash

Let’s dive in!

Oklahoma City Thunder

Incoming salary: $2.1 million in 2024-25

• Daniel Theis (C, one year, $2.1 million)

Outgoing salary: None

This is a pretty simple deal for both teams. The Thunder are using some of their considerable space under the luxury tax to eat Theis’ contract, while adding yet another second-round pick.

Theis will probably stick in Oklahoma City, at least until Chet Holmgren returns. Theis gives the team solid center depth behind Isaiah Hartenstein and Jaylin Williams.

When Holmgren is back, the Thunder could move on from Theis to free up a roster spot to convert two-way player Ajay Mitchell to a standard contract. Mitchell was in line for the promotion before suffering a turf toe injury. The rookie guard is out for several more weeks, as he recovers from a surgical procedure for the injury.

The pick the Thunder are getting in this trade is so far off, that it’s impossible to know what it will be. But Oklahoma City previously had only their own second-round pick in 2031, and that just couldn’t stand. Now, Sam Presti has the requisite extra pick that he must have in every round of every draft.

New Orleans Pelicans

Incoming salary: None

Outgoing salary: $2.1 million in 2024-25

• Daniel Theis (C, one year, $2.1 million)

The New Orleans Pelicans streak of never paying the luxury tax in franchise history will continue. By moving Theis, and with Dejounte Murray set to miss out on some currently likely bonuses due to missing the rest of the season, the Pelicans will dip below the tax line.

Expect New Orleans to use some of their newfound room beneath the tax to convert Brandon Boston Jr. to a standard contract. Boston has played well for the injury-ravaged Pelicans and they’d like to have him on a longer-term deal.

Paying the price of a second to dodge the tax is worth it for the Pelicans. The team isn’t anywhere near contention this year, and there’s a chance that New Orleans will be expensive down the line. It’s best to put some extra cash, via both this trade and the upcoming luxury tax disbursement, in ownership’s coffers now. Then, if the tax can’t be avoided down the line when the team is back in as a playoff contender, hopefully they’ll have bought some goodwill and the go-ahead to stay over the tax.

The Dallas Mavericks used some of their newly acquired wing depth to make a trade for more size on the perimeter, along with cap-sheet surety. The Philadelphia 76ers picked up a younger player, who fits no matter what direction the team takes at the trade deadline and moving forward.

Here are the particulars:

Dallas Mavericks acquire: Caleb Martin

Philadelphia 76ers acquire: Quentin Grimes, 2025 76ers second-round pick

Let’s dive in!

Dallas Mavericks

Incoming salary: $8.1 million in 2024-25

• Caleb Martin (SF/PF, four years, $35 million (final season player option))

Outgoing salary: $4.3 million in 2024-25

• Quentin Grimes (SG, one year, $4.3 million)

After acquiring Max Christie in the Luka Doncic for Anthony Davis trade, Quentin Grimes was expendable for the Mavericks. Grimes and Christie overlap in position and role, as both are 3&D wings for the Mavericks. The advantage with Christie is that he’s already signed to a team-friendly contract for the next few seasons.

Grimes is a pending restricted free agent. Dallas and Grimes were unable to come to an agreement on a rookie scale extension this past offseason. That left his status up in the air, as Grimes is headed into restricted free agency this offseason.

Valuations for Grimes vary around the NBA. Some teams are worried about his injury history, and inconsistent production. Other teams value his plug-and-play ability as a good shooter that can defend all three perimeter positions. That lands Grimes as an MLE-plus player, in terms of his projected next contract.

That means Grimes could expect a first-year salary between the MLE amount (projected to be just over $14 million for 2025-26) and around $15 million. Given that Christie is signed for just $7.7 million next season, it’s easy to see why Dallas moved on.

The Mavericks have a big contractual item to work out with Kyrie Irving this offseason. That’s in addition to rebuilding the roster around a re-signed Irving and the newly-acquired Davis. That’s where adding Caleb Martin comes in.

Martin and Christie combine to make slightly more than Grimes projects to in 2025-26. In addition, both Martin and Christie are under contract through at least 2026-27. That’s the kind of surety that Dallas wants as they navigate in a post-Doncic world.

On the court, Martin brings more size than Grimes. While Grimes is more of a small wing/combo guard defensively, Martin is a big wing/combo forward. Grimes has been a lights-out shooter this season, only recent dipping below 40% on 4.3 three-point attempts per game. Martin won’t shoot quite that well, or on that kind of volume. Martin is at 38% this year, but that’s a bit above his career average. Martin’s defense has also slipped a bit this season, but he’s still a solid defender.

The big thing here is that Dallas now has a clear runway to minutes for Christie. Instead of Christie and Grimes competing for playing time, the new addition can step right into a rotation role. Christie projects to be just as good of a shooter as Grimes, and he has a bit more size. The soon-to-be 22-year-old has also flashed a few on-ball skills too. That will allow Martin to slot into a forward rotation that will feature Davis, Naji Marshall, Klay Thompson and P.J. Washington, pending any forthcoming trades.

In an uncertain environment moving forward, as Dallas retools from their mega-trade, this deal brings some security to Jason Kidd’s wing rotation. That’s worth something, even if giving up Grimes is tough to swallow.

Philadelphia 76ers

Incoming salary: $4.3 million in 2024-25

• Quentin Grimes (SG, one year, $4.3 million)

Outgoing salary: $8.1 million in 2024-25

• Caleb Martin (SF/PF, four years, $35 million (final season player option))

This is a move that can benefit the Sixers right now, as well as having some staying power for years to come. Philadelphia’s roster could be in transition from this trade deadline through the offseason. With the emergence of Ricky Council IV and Justin Edwards as younger bigger wings, the Sixers didn’t have as much need for Caleb Martin moving forward.

Adding Quentin Grimes’ defense and shooting to the backcourt fills a bigger need for Philadelphia. The Sixers have been light on backcourt defense this season. Tyrese Maxey is carrying such a heavy offensive load, that his defense has slipped a bit. Eric Gordon is on the floor for his shooting and scoring, not his defense. The team’s best backcourt defender has been Kyle Lowry…which says quite a bit at this point.

Grimes will immediately upgrade the perimeter defense. He can guard either backcourt position, plus smaller wings. In addition, Grimes’ shooting is a nice get for Nick Nurse’s rotation.

On the cap sheet, the Sixers should be in position to retain Grimes long-term. He’s young enough to fit if Philadelphia pivots to trading out some veterans ahead of the deadline. He’s also good enough right now to fit if the 76ers pursue upgrades to make a playoff push. Grimes will probably make almost double what Martin was expected to for 2025-26, but the Sixers have enough other money coming off the books to make that palatable. Having Grimes’ restricted free agent rights will also help Philadelphia to control his free agency process.

In addition, this move dropped the Sixers below the first apron. That gives the team a bit of extra flexibility in trades before the deadline. If Philadelphia stays below the first apron, they’ll have the added benefit of being able to pursue any player that hits the buyout market. Remember: apron teams can’t sign a player after a buyout if that player’s previous salary was more than the Non-Taxpayer MLE (approximately $12.8 million).

This is a good move for the Sixers. Martin is a nice player, but his place on the roster was starting to feel pretty tenuous. Grimes is a better bet moving forward, even after factoring in that he needs a new contract. In fact, don’t be surprised if Grimes emerges as the long-term backcourt running mate for Maxey, as their skill-sets mesh quite well.

Luka Doncic is a Los Angeles Laker.

That still seems crazy to read, but here we are.

In the immediate, the Lakers will be figuring out how to incorporate Doncic alongside LeBron James, while trying to add complementary talent around the two stars. But this move was more about the future in Los Angeles than it was about the present.

That future involves Luka Doncic’s next contract. But before we get there, let’s look at what Doncic was in line for with the Dallas Mavericks.

To set the stage, here’s what’s left on Doncic’s current deal:

• 2024-25: $43,031,940
• 2025-26: $45,999,167
• 2026-27: $48,967,380 (player option)

Doncic becomes extension-eligible this summer. The expectation has long been that he’d opt out of his current deal and start a new one in 2026-27. That was expected to be a Designated Veteran Player Extension (DVPE) with the Mavericks. That deal projected to look like this:

• 2026-27: $59,539,200
• 2027-28: $64,302,336
• 2028-29: $69,065,472
• 2029-30: $73,828,608
• 2030-31: $78,591,744
• Total: five years, $345,327,360

That’s a 35% of the cap max with 8% raises. It’s very likely the final season would have included a player option, as someone of Doncic’s status always commands a player option.

Unfortunately, that’s no longer on the table. In order to qualify for the DVPE, a player has to meet awards requirements (All-NBA, MVP or Defensive Player of the Year). No issue for Doncic, as he’s an All-NBA guy without any worry.

However, a player can only get a DVPE in a deal from the team that drafted them, or acquired them while they were still on their rookie scale deal. Having been traded to the Lakers, that’s now out the window for Doncic.

So, where does that leave Doncic and the Lakers? Let’s dive in!

The Veteran Extension

Doncic is eligible to sign a standard Veteran Extension with the Lakers. Let’s assume that he’s still going to opt out for 2026-27, so we’ll start there. Doncic is eligible this summer (after six months have passed from the trade to the Los Angeles) to sign an extension that can start at 140% of his previous salary in the final year of his current contract. That would take him over his max salary. So, he’ll start that deal at the max he’s eligible for. The Veteran Extension for Doncic projects to look like this:

• 2026-27: $51,033,600
• 2027-28: $55,116,288
• 2028-29: $59,198,976
• 2029-30: $63,281,664
• Total: four years, $228,630,528

That’s a 30% of the cap max with 8% raises. Doncic would be limited to signing for just four years, because a Veteran Extension plus what’s remaining on the contract can run for no longer than five total seasons. Like with any deal Doncic is going to sign, he’ll likely have a player option on the final season.

If we do a four-year-to-four-year comparison, Doncic would lose roughly $46 million in this structure vs the DVPE from the Mavericks.

That’s a pretty big chunk of change. But there’s a way Doncic can recoup some of that lost salary, while still locking in security long-term. Let’s go there next.

The “Donovan Mitchell” Extension

When the Cleveland Cavaliers traded for Donovan Mitchell, they hoped he’d be happy enough with the team that he’d extend. Like Luka Doncic, Mitchell also lost ability to sign a DVPE when he was traded from the Utah Jazz. However, Mitchell and the Cavs got creative, kind of split the difference and made the best of their now mutual situation.

Instead of locking in for every year and dollar he could on a Veteran Extension, Mitchell signed a shorter-term extension. That deal gives Mitchell the ability to opt out when he has achieved 10 Years of Service. Then, he’s eligible to sign a new deal starting at 35% of the cap.

Here’s what that would look like for Doncic on a shorter-term Veteran Extension with the Lakers. This assumes the same strategy of opting out for the 2026-27 season as the Veteran Extension did:

• 2026-27: $51,033,600
• 2027-28: $55,116,288
• 2028-29: $59,198,976 (player option)
• Total: three years, $165,348,864

Now, here you can see we included the player option on the final season. That’s because that’s the only way this works. For Doncic, after the 2027-28 season completes, he’ll have 10 Years of Service. He could then opt out and sign a five-year deal that would start at 35% of the cap.

It’s a little wonky to look that far out, because we don’t have a great handle on how the cap will continue to grow. But that new deal in 2028-29 projects to look like this:

• 2028-29: $72,042,250
• 2029-30: $77,805,630
• 2030-31: $83,569,010
• 2031-32: $89,332,390
• 2032-33: $95,095,770
• Total: five years, $417,845,050

That’s 35% of the cap max with 8% raises. And, sure, Doncic will probably get a player option and have one more chance to cash in when he’s 33 years old in 2032.

Let’s pause here to say: We have no idea what the cap growth will be by the time we get to 2028-29. That’s the final season of the current CBA, barring something very unexpected. But this is still in the range of what Doncic could sign for, if he did the shorter-term extension like Mitchell.

Re-signing with the Lakers as a free agent

Let’s say Luka Doncic decides to play out his current contract and then to re-sign on a new deal with the Los Angeles Lakers. As unlikely as that path is, here’s what that contract could look like:

• 2026-27: $51,033,600
• 2027-28: $55,116,288
• 2028-29: $59,198,976
• 2029-30: $63,281,664
• 2020-31: $67,364,352
• Total: five years, $295,994,880

This is the same 30% of the cap first-year salary as Doncic could get by signing a Veteran Extension. It also includes 8% raises. The only difference is the addition of a fifth year, which Doncic can only get by re-signing as a free agent with the Lakers. And, say it with me, that final season would likely be a player option.

Signing with another team as a free agent

Let’s say things go completely sideways for Luka Doncic in Los Angeles and he’s on the first plane out of town in 2026. This is probably the second-least likely scenario behind simply re-signing as a free agent with the Lakers, because Doncic is far more likely to extend. But for comparison’s sake, here’s what he could sign for with another team as a free agent:

• 2026-27: $51,033,600
• 2027-28: $53,585,280
• 2028-29: $56,136,960
• 2029-30: $58,688,640
• Total: four years, $219,444,480

The starting salary is the same as extending or re-signing at 30% of the cap. But this deal has only 5% raises and can run for only four seasons. And, you guessed it, the final season would likely be a player option.

Summary

Luka Doncic is going to get paid and paid handsomely on his next contract. It won’t be the so-called supermax, as he’s no longer eligible. But Doncic is still going to sign one of the biggest contracts in NBA history.

We rank the likelihood of each potential deal this way:

1. The “Donovan Mitchell” Extension
2. The Veteran Extension
3. Signing with another team as a free agent
4. Re-signing with the Lakers as a free agent

If we run the 2026-27 through 2029-30 four-year-to-four-year comparisons for each scenario we get:

• The “Donovan Mitchell” Extension: $237,391,114
• The Veteran Extension: $228,630,528
• Signing with another team as a free agent: $219,444,480
• Re-signing with the Lakers as a free agent: $228,630,528

As you can see: The “Donovan Mitchell” Extension is the most lucrative option. In addition, that comes with the added benefit of running through 2033 at a projected final-season salary of over $95 million. A truly mind-bending, yet forthcoming, single-season salary figure.

Doncic can’t really get more money by signing a Veteran Extension with the Lakers, as opposed to re-signing with the Lakers a free agent. This is especially true, when you factor in that he’s likely to opt out of the final year of any deal anyway. By extending, Doncic locks in that security a year early, which is always something players look to do. So, why wait to re-sign vs extending?

And, of course, if Doncic wanted to leave town, he’d be leaving a decent chunk of money on the table. That’s only happening if things really go wrong for him in Los Angeles. At that point, losing some money won’t be all that big of a concern.

Signing a shorter-term “Donovan Mitchell” Extension is what makes the most sense for Luka Doncic. Given that the Los Angeles Lakers have never balked at paying one of their own star players, that’s the best bet on how Doncic and the Lakers move forward. If we get to early-August, when Doncic will be eligible to extend, and we hear that he’s signed a three-year extension worth a projected $165 million, then things are set up for Doncic to really cash in with a five-year 35% of the cap max starting in 2028-29.

Another day, another blockbuster deal in the NBA! The rumored deal of De’Aaron Fox to the San Antonio Spurs came to fruition, but with a twist that involved the Sacramento Kings getting Zach LaVine from the Chicago Bulls.

Here are the particulars:

San Antonio Spurs acquire: De’Aaron Fox, Jordan McLaughlin

Sacramento Kings acquire: Zach LaVine, Sidy Cissoko, 2025 Hornets top-14 protected first-round pick (via Spurs), 2027 Spurs first-round pick, 2031 Timberwolves first-round pick (via Spurs), 2025 Bulls second-round pick (via Spurs), 2028 Nuggets top-33 protected second-round pick (via Spurs), 2028 Kings second-round pick (via Bulls)

Chicago Bulls acquire: Zach Collins, Kevin Huerter, Tre Jones, 2025 Bulls first-round pick (via Spurs)

Let’s dive in!

San Antonio Spurs

Incoming salary: $36.9 million in 2024-25

• De’Aaron Fox (PG, two years, $71.9 million),
• Jordan McLaughlin (PG, one year, $2.1 million)

Outgoing salary: $27.7 million in 2024-25

• Zach Collins (C, two years, $34.8 million),
• Tre Jones (PG, one year, $9.1 million),
• Sidy Cissoko (SF/PF, two years, $4.1 million (final season fully non-guaranteed))

The San Antonio Spurs have been looking for a running mate for Victor Wembanyama since they drafted him. They have that guy now in De’Aaron Fox.

Fox reportedly really wanted to get to San Antonio, so this should be a match made in happiness for both the Spurs and Fox. The veteran point guard gives the team a floor leader who should be in place for years to come. Fox is likely to extend, possibly as soon as this summer. The supermax extension is no longer a possibility, but that was never overly likely to happen anyway. Fox will still get a 30% of the cap max, but the Spurs cap sheet can easily handle that.

In Fox, San Antonio has a guard who will push the pace. That should help the Spurs to take advantage of Wembanyama’s hyper-athletic game. You can already imagine the Fox-Wembanyama duo running the floor, with either one putting pressure on the rim in transition, as others space the floor around them.

There are questions remaining for the Spurs to answer. Will one or more from their large group of young players emerge to fill out the rotation around the two stars? If not, will San Antonio be able to trade them for a veteran who will? Can the front office manage the cap sheet to leave enough flexibility to build a strong roster around Wembanyama and Fox?

Those are all fair and important questions. They’re also more of a long-term thing. In the immediate, San Antonio could get involved in other deals, but that doesn’t seem likely. Yes, they now have both Fox and Chris Paul at point guard. That’s not something the Spurs see as an issue. They love what Paul has brought to their young roster. It’s unlikely he’s going anywhere, despite the overlap with Fox at the lead guard spot. There’s no urgency to make moves with the rest of the roster either. Getting Fox was the big move and it’s now complete. The next big moves will come in the offseason.

As for the price paid to get Fox, the Spurs did well there. By roping in the Chicago Bulls, San Antonio didn’t have to deliver all of the value to the Kings themselves. The Spurs moved on from Tre Jones (who had no place on the roster with Fox in the fold) and Zach Collins (who was carrying an undesirable contract). That means all of the kids (especially Stephon Castle) and the vets (especially Devin Vassell) with real value are still in pace for the rest of this season and into the summer.

Even the draft picks traded by San Antonio are a bit misleading. That 2025 Charlotte Hornets lottery-protected first-round pick? That’s going to be two second-rounders. The 2027 Spurs first should be in the mid- to late-20s, if things go as the should. The 2031 Minnesota Timberwolves first-rounder could be a good one, as we have no idea what they’ll be by then. Somewhat remarkably, the Spurs were able to complete this trade without even giving up their 2031 swap rights with the Kings. That’s potentially huge, given Sacramento’s history of being underwhelming.

Overall, this is a homerun trade for the Spurs. They landed their guy in Fox. Even if he’s a tier below superstar status, he’s still a great fit alongside Wembanyama for the next several seasons. Getting him without giving up all that much is a no-brainer for San Antonio.

Sacramento Kings

Incoming salary: $44.9 million in 2024-25

• Zach LaVine (SG, three years, $137.9 million (player option for final season),
• Sidy Cissoko (SF/PF, two years, $4.1 million (final season fully non-guaranteed))

Outgoing salary: $53.7 million in 2024-25

• De’Aaron Fox (PG, two years, $71.9 million),
• Kevin Huerter (SG/SF, two years, 34.8 million),
• Jordan McLaughlin (PG, one year, $2.1 million)

When you trade away your franchise player, it’s hard to get commensurate value in return. Either you get a package of picks and young players that resembles a mystery box. Or you get a bunch of middling salary and veterans in return. The Kings managed to land a really good player and some future assets for De’Aaron Fox, who was one of the team’s franchise players. That’s a win in what is regularly a no-win situation.

Zach LaVine is good. Actually, make that really, really good. He’s fully healthy again, with no signs of any lingering issues from his previous injuries. This has been LaVine’s best season. He’s putting up career-best numbers and has done well in the Chicago Bulls new up-tempo system.

Sacramento did well to land LaVine as the centerpiece in the return for Fox. The veteran scoring guard is a killer in the DHO/screen game with a big who can pass, and he’ll be paired with one of the best in Domantas Sabonis. LaVine is also a good passer himself, so you can run the offense with him as your primary creator.

The lack of a traditional point guard may look a bit weird for the Kings. However, LaVine, Sabonis, DeMar DeRozan and Malik Monk are all guys you can run the offense through. This also clears a runway for rookie point guard Devin Carter, who has impressed since getting healthy, to see enough minutes.

On the cap sheet, LaVine is another max guy, which gives Sacramento two $40 million-plus players with him and Sabonis. But that’s a workable number. DeRozan has one year left at a fair salary, and Monk’s contract is a great value for the Kings. Given Fox was likely to command a max deal, having LaVine in that salary slot is just fine for the Kings.

Sacramento added some additional draft capital in this deal too. The 2025 Charlotte Hornets first-round pick isn’t going to convey, so write that in as two second-round picks. But adding two first-round picks and five second-round picks, plus LaVine, for a guy who didn’t want to be there is good work. And that 2031 Minnesota Timberwolves pick could be really juicy. The Wolves could be into a rebuild by then, even with Anthony Edwards in place as a young star.

Sidy Cissoko was also an interesting get for Sacramento. He’s still only 20 years old. Cissoko’s NBA experience is limited, but his G League profile is interesting. He’s a worthy flyer, as the Kings can stash him in Stockton and let him develop more in the G League.

Again, it’s hard to get a value return when trading a franchise player. This wasn’t quite a haul for Sacramento, but they did well. LaVine is a lot better than he gets credit for. And the Kings have a lot of optionality immediately and moving forward with how they build out their roster. That’s good work, considering they had to move on from Fox sooner, rather than later.

Chicago Bulls

Incoming salary: $42.7 million in 2024-25

• Zach Collins (C, two years, $34.8 million)
• Kevin Huerter (SG/SF, two years, 34.8 million)
• Tre Jones (PG, one year, $9.1 million)

Outgoing salary: $43.0 million in 2024-25

• Zach LaVine (SG, three years, $137.9 million (player option for final season)
• Note: The Bulls also waived Torrey Craig ($2.8 million) and Chris Duarte ($5.9 million) to complete this trade

The Chicago Bulls have picked a direction…we think. At least, we hope!

By trading Zach LaVine for a collection of somewhat undesirable salaries, the Bulls should be leaning towards rebuilding. They seem to be headed that way, as every veteran on the roster is available in trade talks. That’s a good thing.

Unfortunately, that still doesn’t mean this was enough of a return for LaVine. Essentially, the Bulls provided a large chunk of the value to the Kings so that the Spurs didn’t have to. For a return of your own 2025 first-round pick unencumbered, that’s not enough.

Let’s talk about that pick for a moment…On face value, Chicago getting that pick back without the protected component, seems great. But here’s the thing: the Bulls should have been able to be bad enough to keep that pick anyway. There never really should have been all that much worry of losing it. For that to the primary return in trading away LaVine simply isn’t good enough.

Yes, Chicago got off considerable salary in this deal by moving LaVine. But Collins and Huerter combined are at over $36 million for next season. That’s not great. If either can find their game again in Chicago, then at least having them as individual movable salary has some value.

On the court, it’s hard to really evaluate much here. Kevin Huerter is theoretically a nice fit in the pace-and-space system that Billy Donovan is employing. He gives the Bulls a shooter with size that they don’t really have right now. Most of the Bulls best shooters are guard-sized players.

Zach Collins is a nice backup center. Assuming Nikola Vucevic is moved before the deadline, Collins can team with Jalen Smith to give Chicago 48 minutes of decent play at the five.

Tre Jones is a good backup point guard. The issue there is that Chicago already has so many point guards that Jones is just another body in the mix for right now. A trade moving out some of that depth is a must for the Bulls this week.

It feels like the start of something for the Bulls here. But if they don’t push this forward by moving a handful of other veterans, this will become the worst, directionless roster in the NBA. Chicago has to fully commit now to bottoming out.

They’ve already won too much this year to get in the Cooper Flagg derby, but they can still improve their pick a good amount. Mostly, this about picking a direction and going fully down Rebuild Road. You can’t drive halfway down there, change your mind and decide that’s good enough. But until they actually do it, there’s no way anyone will believe the Bulls will do anything more than going halfway, grabbing a burger for the road and heading back home to the middle.

Wow…

Just wow.

In a stunning blockbuster, the Los Angeles Lakers and Dallas Mavericks swapped superstars, while the Utah Jazz stepped in as a facilitator.

Here are the particulars:

Los Angeles Lakers acquire: Luka Doncic, Maxi Kleber, Markieff Morris

Dallas Mavericks acquire: Anthony Davis, Max Christie, 2029 Lakers first-round pick

Utah Jazz acquire: Jalen Hood-Schifino, 2025 TBD second-round pick (via Mavericks), 2025 Clippers second-round pick (via Lakers)

Let’s dive in!

Los Angeles Lakers

Incoming salary: $56.1 million in 2024-25

• Luka Doncic (PG, three years, $137.9 million (player option for final season)),
• Maxi Kleber (PF/C, two years, $22 million),
• Markieff Morris (PF/C, one year, $2.1 million)

Outgoing salary: $54.2 million in 2024-25

• Anthony Davis (PF/C, four years, $218.6 million (player option for final season),
• Max Christie (SG/SF, four years, $32 million (player option for final season),
• Jalen Hood-Schifino (PG, one year, $3.9 million)

The Los Angeles Lakers have their post-LeBron James superstar in place. That’s what this trade was about.

James and Doncic are a bit of an odd pairing on the floor. Both are high-usage big ballhandlers. Neither is an elite off-ball player. But that’s something for JJ Redick to sort out over the coming weeks and months.

The defense will take a major hit for Los Angeles. Anthony Davis is still a one-man wrecking crew around the rim. Max Christie was the team’s best perimeter defender.

None of that really matters.

The Lakers got Luka Doncic.

Has Doncic been somewhat injury-prone recently? Are there conditioning issues with Doncic? Is he still immature in his relationships with officials?

Yes. Yes. And, yes.

Doncic is also a perennial MVP candidate. He also only turns 26 years old at the end of February. He’s an established global superstar.

You put up with all the questionable stuff because Doncic is that good. And he has been since he got to the NBA. Don’t overthink this. It’s Luka Doncic.

Moving forward, the Lakers now have the certainty of having a star in place when James eventually moves on. That’s true if James retires or decides he’d like to play elsewhere. (More on that last part in a bit.)

The other sneaky, but enormously important thing to note here: Los Angeles will get Doncic on a relative discount long-term too.

Doncic is no longer eligible to sign a Designated Veteran extension (the so-called supermax) for 35% of the cap. Players can only sign that kind of deal with the team that drafted them, or if they were acquired while still on their rookie scale deal.

That means when it’s time for the Lakers to extend or re-sign Doncic, they’ll get him for 30% of the cap. That’s a projected difference of roughly $8.5 million in first-year salary in 2026-27. That’s huge for Los Angeles, as they’ll be retooling the roster around Doncic at that time.

Speaking of retooling…Rob Pelinka still has work to do this season for the Lakers.

By trading Davis and Christie, the Lakers are severely lacking in defense now. Davis leaves a major hole at center. The only healthy non-two-way center on the roster now is Jaxson Hayes. He’s been fine as a backup, but he’s underwhelming as a starter.

Could Maxi Kleber and Markieff Morris help there? Eh, probably not. Kleber is out with a broken foot and will be down for several more weeks. He’s also not really a center, as much as he is a pure four. At this point, Morris’ biggest contributions come in the locker room and in practice.

That means the Lakers need to get a center. The good news? They have the ammo to make that happen, and they can be flexible in the type of five they chase now.

Interior defense and rebounding are definitely concerns. Someone like Clint Capela, Nic Claxton, Robert Williams III, Jakob Poeltl or, yes, Walker Kessler can fill those needs. All are on acquirable contracts, which is key because the Lakers are still working around some tight margins with the aprons.

If the team’s read is that no center that they can acquire is fixing what looks like a leaky perimeter defense, they could go all-in on offense. That would open up the market for guys like Nikola Vucevic, Jonas Valanciunas or Deandre Ayton.

The player who can fill both the offensive and defensive needs best is Myles Turner, but there’s no sense the Pacers would move him for anything but a real haul.

Which brings us to the next question: What do the Lakers still have that they can offer? Picks-wise, Pelinka still has his 2031 first-round pick to offer up in deal. For players, the Lakers can send out Rui Hachimura and Gabe Vincent, who are a combined $28 million in potential salary-matching, even with each carrying one extra season beyond this one.

The Lakers should also be more open to moving Austin Reaves too. Doncic and Reaves are a terrific offensive combination, but that’s pretty rough duo defensively. It’s asking a lot of everyone else to cover for those two’s flaws on defense.

If Los Angeles is open to moving Reaves, that could up their return considerably. He’s a good player, despite the defensive issues, and Reaves would be another $12.9 million in outgoing salary.

To keep it simple: The Lakers don’t seem done rebuilding this roster. There is work to be done, both for the short- and long-term. It might be bumpy for a bit, because the Doncic-James fit isn’t exactly seamless, plus Los Angeles will likely be incorporating other new players too. But once they find their footing, the Lakers should be fine.

Now, let’s get to the elephant in the room: How does LeBron James feel about all of this?

James only public comments so far, in the immediate hours following the trade, were to dispute a report that he had grown weary of playing with Davis. James shot that down emphatically on social media.

But that shouldn’t be taken as more than anything but James not wanting others to put words in his mouth. There’s been nothing reported yet that he’s happy or upset about this deal. In the past, the Lakers superstar has spoken glowingly of Doncic. James also recruited Davis and won a title with him.

The reality is that the Lakers made this deal to prepare themselves for a post-LeBron James future. Could that come as soon as this week, before the trade deadline? That seems crazy, but this whole thing is crazy already. The Lakers and Golden State Warriors had at least some level of discussion on a trade that would have sent James to northern California a year ago. Could those be rekindled?

It’s important to note here that James has a full no-trade clause. If he’s dealt this week, or at any point, it’ll happen with his approval.

It’s also worth asking what James is going to do after this season. He’s in Year 22. James has talked openly about how the end is near. But only he knows how near it is. James has a player option for 2025-26. Could he opt out and go elsewhere? Could he simply retire and walk away?

The Los Angeles Lakers know their time with LeBron James is short, no matter if they don’t know just how short it is. They weren’t going to go without a superstar after James moves on. Now, with Luka Doncic in the fold, the Lakers have their next star already in the fold.

Dallas Mavericks

Incoming salary: $50.4 million in 2024-25

• Anthony Davis (PF/C, four years, $218.6 million (player option for final season)
• Max Christie (SG/SF, four years, $32 million (player option for final season)

Outgoing salary: $54.2 million in 2024-25

• Luka Doncic (PG, three years, $137.9 million (player option for final season))
• Maxi Kleber (PF/C, two years, $22 million)
• Markieff Morris (PF/C, one year, $2.1 million)

The Mavericks are resetting on the fly. This isn’t a rebuilding trade, nor is it a panic trade. It’s a major gamble, but one that seems to align with their organizational belief on how you build a winner.

Dallas GM Nico Harrison said post-trade reports that he believes you win championships with defense.

Enter Anthony Davis.

Yes, Davis is roughly six years older than Luka Doncic. Yes, Davis is injury prone.

But he’s still an All-NBA level of talent and a one-man defensive system. Davis still has plenty left in tank, and he’s signed long-term.

In the immediate, Davis is a major upgrade for the Mavericks. Doncic hasn’t played for most of the season and Dallas is thin up front at the moment due to injuries. Davis will help them tremendously right away.

Expect the Mavs to fulfill Davis’ long-held desire to play power forward. In the short-term, Davis will likely start next to Daniel Gafford, with P.J. Washington becoming a high-minutes super sub behind them in the frontcourt rotation. When Dereck Lively II is healthy again, he and Davis will team up as the long-term frontcourt pairing in Dallas.

Davis is a fairly plug-and-play guy. He’s awesome defensively and he’s an offensive weapon, without being someone you need to tailor your entire system around. Davis and holdover Mavericks star Kyrie Irving have long talked about playing together. Now, they’ll get to do so in Dallas, of all places.

Cap-wise, acquiring Davis beings some surety to things for the Mavericks. Instead of paying Doncic a supermax (and Doncic would have gotten the supermax or things would have gotten very ugly in Dallas), now the team has Davis locked in for what is less than they were planning for in extending Doncic. It’s not a massive amount, but it’s locked in long-term security with some additional flexibility.

That’s important because Irving can be a free agent this summer. Assuming Irving is happy about the deal (as of this writing, nothing has been reported about how Irving feels), the Mavs can move forward with locking up Irving and Davis as their star duo. There’s a chance that pairing fits just as well as the Irving-Doncic duo did.

It’s worth noting that Davis is waiving his trade bonus to be a part of this deal. That’s important for two reasons: First, it gives the Mavs some much-needed flexibility, both now and moving forward. Second, it’s an indication that Davis is ok with the deal. If he wasn’t, he could have caused issues by insisting upon getting his bonus in full.

Dallas also acquired a 2029 first-round pick in this deal. It’s impossible to know what the Lakers will be four years from now. Even with Doncic in the fold, Los Angeles will be navigating a post-LeBron James world at that point. That range of outcomes for that pick is anywhere in the first round.

Stepping back into the present, the Mavericks had made it known they wanted to upgrade their perimeter defense ahead of the deadline. Max Christie is a major get in that respect. Christie is a solid defender on the wing. He’s also become a fairly consistent shooter too. No one is going to celebrate wildly about Christie being in this deal, but he’s on a terrific value contract and shouldn’t be overlooked. Dallas did well to add him.

All that being said…the Mavericks traded Luka Doncic.

Ouch.

Doncic is a full-blown superstar. Super-duper-star, even. With Doncic, you write him into your roster and game plans in pen, then you figure out the rest. Doncic is a yearly MVP candidate and he’s only turning 26 later this month.

Doncic was also the post-Dirk Nowtizki star in Dallas. He’s a global superstar who made the Mavericks relevant around the world. All of that is hard to move on from.

There’s a lot of spin coming out Dallas right now about Doncic. Concerns over his conditioning, commitment and a tendency to pick up injuries. Those reports also say Dallas was hesitant to give Doncic a supermax deal.

If true, then the Mavericks were right to move on. If you can’t commit to your superstar, you owe it to him and yourselves to make a trade.

But the question then becomes: Why not stage a bidding war?

Let’s start out by saying, this trade isn’t bad for Dallas. In a rush to declare winners and losers, we often turn it into good and bad. The Mavericks did fine here. Davis is a star in his own right. Christie is a nice role player on a great contract. And Dallas picked up a potentially valuable first-round pick.

But could they have gotten more?

How many picks would the Spurs have given up to pair Doncic with Victor Wembanyama? Could the Nets have given their entire haul to bring Doncic to Brooklyn? Would the Rockets have given up picks and young talent? What about the Jazz? Could the Thunder have shocked the world by emptying their draft pick treasure chest, while also adding in some young talent too?

We’ll never know. And that’s unfortunate, because players of Luka Doncic’s caliber, at his age, are rarely ever actually available.

Instead, the Mavericks worked in silence and to make a win-now play. Again, it’s not bad, per se. It’s just not the kind of overwhelming return we expect in a move like this.

But that’s kind of the thing. There’s no real playbook to work off of here. A super-duper-star getting moved when he’s still in his pre-prime (at worst early-prime) years is unheard of. It’s truly incredible.

Utah Jazz

Incoming salary: $3.9 million in 2024-25

• Jalen Hood-Schifino (PG, one year, $3.9 million)

Outgoing salary: None

• Note: The Jazz will have to waive a player to complete this trade. That player is TBD.

The Jazz have jumped in yet another trade to siphon off some value by acting as a facilitator. This trade doesn’t work without Hood-Schifino going somewhere, so Utah is lending a helping hand, while getting paid two second-round picks to do so.

Hood-Schifino is a decent flyer for Utah to take. He was a former mid-first-round pick. His impact in the NBA has been almost non-existent. Last season, Hood-Schifino played well in the G League in a limited number of games. There’s talent there, even if Hood-Schifino hasn’t figured it out yet.

Basically, Utah will get a look at the young guard when he’s healthy enough to play. The Jazz already have several other young ballhandlers, so Hood-Schifino is really just a flyer. But why not? Might as well take a look, considering that’s where the Jazz are at in the rebuilding process.

Utah will acquire Hood-Schifino using a part of their Room Exception. That’s fine, as the Jazz were never going to sign anyone of note using that exception anyway.

One last note on Hood-Schifino: Let’s say he pops and really plays well for Utah. The Jazz will be limited in what they can re-sign him for. Because the Lakers declined their 2025-26 team option for Hood-Schifino, the Jazz are limited to offering him the amount of that declined option in first-year salary. That’s just over $4 million, so that shouldn’t be any kind of major impediment, should Utah want to re-sign Hood-Schifino as a free agent this summer.