The 2025 NBA free agency period, which officially kicked off on June 30, 2025, at 6 p.m. ET, has already reshaped the league with blockbuster trades, massive contract extensions, and strategic signings. With the salary cap set at $154.647 million for the 2025-26 season, teams have been navigating tight financial constraints under the NBA’s new collective bargaining agreement to bolster their rosters. From superstar trades to under-the-radar deals, here’s a comprehensive look at the biggest moves, key players still available, and what to expect as the offseason unfolds.
Major Signings and Extensions
Paolo Banchero Secures Max Deal with Orlando Magic
The Orlando Magic solidified their young core by signing All-Star forward Paolo Banchero to a five-year maximum extension worth up to $287 million. The deal, which could escalate based on awards like NBA MVP or All-NBA honors, ensures Banchero, alongside Franz Wagner and Jalen Suggs, remains the cornerstone of Orlando’s promising future. This move signals the Magic’s intent to build a championship contender around their 22-year-old star.
James Harden Stays with the LA Clippers
Veteran guard James Harden declined his $36.3 million player option but quickly agreed to a new two-year, $81.5 million contract with the LA Clippers, including a partially guaranteed second year with a player option. The 11-time All-Star, who averaged 22.8 points and 8.7 assists last season, continues to be a pivotal piece for the Clippers’ postseason aspirations.
Julius Randle Re-Signs with Minnesota Timberwolves
Three-time All-Star Julius Randle inked a three-year, $100 million deal to stay with the Minnesota Timberwolves. This extension keeps Minnesota’s frontcourt intact as they aim to close the gap in the competitive Western Conference.
Myles Turner Joins Milwaukee Bucks
In one of the biggest free-agent moves, center Myles Turner left the Indiana Pacers after a decade to sign a four-year, $107 million contract with the Milwaukee Bucks. The Bucks, looking to replace Damian Lillard’s playmaking and bolster their frontcourt alongside Giannis Antetokounmpo, view Turner as a younger, defensive-minded alternative to Brook Lopez.
Jaren Jackson Jr.’s Massive Extension with Memphis Grizzlies
The Memphis Grizzlies locked up All-Star center Jaren Jackson Jr. with a five-year, $240 million max extension. Despite a recent turf toe injury requiring surgery, Jackson’s two-way prowess (22.2 points, 5.6 rebounds, and Second-Team All-Defense honors) makes him a cornerstone for Memphis.
LeBron James Opts In with Los Angeles Lakers
LeBron James, at 40, opted into his $52.6 million player option for the 2025-26 season, marking his 23rd year in the NBA—a historic milestone. James, who continues to perform at an elite level, is reportedly monitoring the Lakers’ roster moves as they build around him and Luka Dončić.
Blockbuster Trades That Shook the League
Kevin Durant to Houston Rockets in Seven-Team Trade
In a record-setting seven-team trade, the Houston Rockets acquired superstar Kevin Durant from the Phoenix Suns. The deal sent Jalen Green, Dillon Brooks, and the No. 10 pick (Khaman Maluach) to Phoenix, along with additional draft assets to other teams, including Atlanta, Brooklyn, Golden State, the Lakers, and Minnesota. This move positions Houston as a serious contender in the West, pairing Durant with young talents like Alperen Sengun and Amen Thompson.
Three-Team Trade: Heat, Clippers, and Jazz
The Miami Heat acquired Norman Powell, the LA Clippers landed John Collins, and the Utah Jazz received Kevin Love, Kyle Anderson, and a 2027 second-round pick in a three-team trade. This deal addresses Miami’s need for scoring, strengthens the Clippers’ frontcourt, and provides Utah with veteran leadership for their rebuild.
Denver Nuggets Trade Michael Porter Jr. for Cam Johnson
The Denver Nuggets traded forward Michael Porter Jr. and an unprotected 2032 first-round pick to the Brooklyn Nets for Cam Johnson. Johnson’s 39% three-point shooting and versatility make him an ideal fit for Denver’s system, while the Nets gain a high-upside scorer in Porter.
Deandre Ayton to the Lakers
After a contract buyout with the Portland Trail Blazers, center Deandre Ayton signed a two-year, $16.6 million deal with the Los Angeles Lakers. Ayton, a former No. 1 overall pick, addresses the Lakers’ need for a strong defensive center to complement their star-heavy roster.
Notable Free-Agent Signings
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Jock Landale to Memphis Grizzlies: After being waived by Houston, center Jock Landale signed with the Grizzlies to bolster their frontcourt depth.
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Bobby Portis Re-Signs with Milwaukee Bucks: Forward Bobby Portis agreed to a three-year, $44 million deal, including a player option for 2027-28, to remain a key piece for the Bucks.
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Jakob Poeltl Extends with Toronto Raptors: Center Jakob Poeltl signed a four-year, $104 million extension, ensuring Toronto’s defensive anchor stays through 2029-30.
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Josh Minott to Boston Celtics: The Celtics added forward Josh Minott on a two-year, $5 million deal, enhancing their bench depth.
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Dorian Finney-Smith to Houston Rockets: The Rockets signed forward Dorian Finney-Smith to a four-year, $53 million contract, adding a versatile defender to their revamped roster.
Key Players Still Available
While many big names have signed, several impactful free agents remain on the market as of July 8, 2025:
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Damian Lillard: After being waived by the Bucks, the 36-year-old All-Star is a free agent following an Achilles injury. Reports indicate mutual interest with the Boston Celtics, but his recovery timeline remains a question mark.
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Chris Paul: The 40-year-old veteran point guard is still unsigned, offering playmaking and leadership to contenders.
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Jonathan Kuminga: The restricted free agent forward is drawing interest from multiple teams, but the Warriors could match any offer.
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Russell Westbrook: The former MVP remains a free agent, with Sacramento reportedly interested in adding his intensity.
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Al Horford: At 39, the veteran big man is still available, offering championship experience and versatility.
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Restricted Free Agents: Players like Cam Thomas, Josh Giddey, and Quentin Grimes are still unsigned, with their original teams holding the right to match offers.
What’s Next for the 2025-26 Season?
Teams to Watch
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Houston Rockets: The addition of Kevin Durant and Dorian Finney-Smith makes Houston a legitimate threat in the Western Conference, especially with young stars like Reed Sheppard and Alperen Sengun developing rapidly.
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Milwaukee Bucks: With Myles Turner and Bobby Portis, the Bucks are retooling around Giannis Antetokounmpo to stay competitive in the East, but questions remain about their perimeter defense.
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Los Angeles Lakers: LeBron James, Luka Dončić, and Deandre Ayton form a formidable trio, but the Lakers must address depth to contend with the West’s elite.
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Orlando Magic: Locking in Paolo Banchero signals Orlando’s intent to compete now, but they’ll need to add veteran depth to complement their young core.
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Boston Celtics: After trading Jrue Holiday and Kristaps Porziņģis, the Celtics are reshaping their roster while maintaining interest in Damian Lillard to bolster their title defense.
Salary Cap Challenges
The 2025-26 salary cap of $154.647 million, with a tax level at $187.895 million and apron levels at $195.945 million and $207.824 million, has forced teams to get creative. The second apron’s restrictive rules have led to trades like the Bucks waiving Damian Lillard and Phoenix negotiating a potential Bradley Beal buyout to manage cap hits. Teams like the Brooklyn Nets, with over $20 million in cap space, have a rare opportunity to make significant moves.
Trade Rumors and Future Moves
With the free-agent pool thinning, trades are becoming the primary avenue for roster changes. Teams are eyeing 2026 free agency, with stars like Luka Dončić and Trae Young potentially hitting the market. The Bucks’ situation with Giannis Antetokounmpo remains a focal point, as teams monitor whether he’ll request a trade. Meanwhile, the Knicks’ search for a head coach and additional depth could lead to more activity.
Conclusion
The 2025 NBA free agency period has been a whirlwind of activity, with major trades like Kevin Durant to Houston and signings like Myles Turner to Milwaukee reshaping the league. As teams navigate the new salary cap landscape, the focus shifts to remaining free agents like Damian Lillard and Chris Paul, whose decisions could tip the balance for contenders. With the 2025-26 season approaching, the NBA’s competitive landscape is as dynamic as ever, promising an exciting year ahead.
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