NBA 2025 Offseason Check-In: Minnesota Timberwolves
Hoops Rumors is checking in on the 2025 offseason for all 30 NBA teams, recapping the summer’s free agent signings, trades, draft picks, departures, and more. We’ll take a look at each team’s offseason moves and consider what might still be coming before the regular season begins. Today, we’re focusing on the Minnesota Timberwolves.
Free agent signings
Naz Reid: Five years, $125,000,000. Fifth-year player option. Re-signed using Bird rights.- Julius Randle: Three years, $100,000,000. Third-year player option. Re-signed using Bird rights.
- Joe Ingles: One year, minimum salary. Re-signed using minimum salary exception.
- Bones Hyland: Exact details TBD.
Trades
- Acquired the draft rights to Rocco Zikarsky (No. 45 pick; from Lakers), either the Warriors’ or Nuggets’ 2026 second-round pick (whichever is least favorable; from Suns), either the Suns’ or Rockets’ 2032 second-round pick (whichever is most favorable; from Suns/Rockets), and cash ($3.25MM; from Lakers) in a seven-team trade in exchange for the draft rights to Rasheer Fleming (No. 31 pick; to Suns).
- Acquired the Cavaliers’ 2027 second-round pick and cash ($1.5MM) from the Hawks in exchange for Nickeil Alexander-Walker (sign-and-trade).
Draft picks
- 1-17: Joan Beringer
- Signed to rookie scale contract (four years, $20,331,643).
- 2-45: Rocco Zikarsky
- Signed to two-way contract.
Two-way signings
- Enrique Freeman
- One year, $85,300 partial guarantee (will increase to $318,218 at start of regular season).
- Rocco Zikarsky
- Two years, $85,300 partial guarantee (will increase to $318,218 at start of regular season); second year partially guaranteed for maximum two-way protection amount (will increase to 50% at start of regular season).
Departed/unsigned free agents
- Nickeil Alexander-Walker (Hawks)
- Jesse Edwards (Melbourne United)
- Luka Garza (Celtics)
- Bones Hyland (unsigned)
- Josh Minott (Celtics)
- Tristen Newton (unsigned)
Other roster moves
- Re-signed Jesse Edwards to a two-way contract ($85,300 partial guarantee), then waived him.
Salary cap situation
- Operating over the cap ($154.6MM) and above the luxury tax line ($187.9MM).
- Carrying approximately $200.3MM in salary.
- No hard cap.
- Full taxpayer mid-level exception ($5,685,000) available.
- One traded player exception available ($7,580,900); one traded player exception frozen ($4,686,880).
The offseason so far
Given that the Timberwolves have only advanced beyond the first round of the playoffs three times in franchise history, it’s not an exaggeration to call the last two seasons – which saw them appear in back-to-back Western Conference Finals – the most successful stretch in team history. However, entering the 2025 offseason, financial concerns threatened to put a dent in a roster that had won four postseason series in the past two years.
Marc Lore, Alex Rodriguez, and their “deep-pocketed” ownership group finally assumed majority control of the Timberwolves in June, while defensive anchor Rudy Gobert took a pay cut of nearly $9MM on a new deal that began in 2025/26. But after operating above the second tax apron in ’24/25, the Wolves weren’t eager to surpass that threshold for a second consecutive year. That meant the club likely wouldn’t be able to re-sign all three of its top free agents, Naz Reid, Julius Randle, and Nickeil Alexander-Walker.
The Wolves chose to prioritize Reid and Randle, reaching a five-year, $125MM agreement with the former and a three-year, $100MM deal with the latter. Since both Reid and Randle are power forwards, there was an argument for letting one of them walk, but Minnesota was a much better team when both players were available, since it allowed Reid – the Sixth Man of the Year in 2023/24 – to go to work against second units and created more frontcourt optionality. The Wolves had a 44-25 record in games Randle played, compared to a 5-8 mark when he was sidelined.
Reid’s $125MM contract, which is fully guaranteed with a fifth-year player option, was actually the most lucrative deal signed by any free agent this summer. That may seem like an aggressive investment in a player who doesn’t project to be a starter, but the 26-year-old has been one of the league’s most effective reserves in recent years and would be fully capable of stepping into a starting role in the event that Randle is traded at some point in the next couple seasons.
Reid’s new contract will also cover his prime years and isn’t an anomaly when compared to deals around the league. DeMar DeRozan, Miles Bridges, Tobias Harris, John Collins, RJ Barrett, Jerami Grant, and Khris Middleton are among the forwards who will earn between $3-12MM more than Reid in 2025/26.
Randle, meanwhile, turned down a $30.9MM player option in favor of a multiyear deal that starts at the same price. The three-time All-Star has taken some flak for his inconsistent three-point shot and mediocre defense, but he’s a talented, scorer, play-maker, and rebounder who had an excellent postseason (21.7 PPG, 5.9 RPG, and 4.9 APG on .502/.385/.880 shooting), and he should be more comfortable in his second year in Minnesota following his first full offseason as a Timberwolf. He had little time to adjust to new his home last fall when the Knicks traded him to the Wolves at the start of training camp.
With Reid and Randle back in the fold, the Wolves didn’t have enough room below the second apron for Alexander-Walker, who received a four-year, $60MM+ contract from the Hawks.
Minnesota got a future second-round pick and cash as part of that sign-and-trade transaction, but lacked the resources to acquire a direct replacement for Alexander-Walker, a three-and-D guard, in free agency or on the trade market. The Wolves will be betting on increased contributions from a trio of in-house backcourt youngsters, with Rob Dillingham, Terrence Shannon Jr., and Jaylen Clark each likely getting the opportunity to compete for an increased role in 2025/26.
Although the Wolves also used a first-round pick on Joan Beringer and re-signed Joe Ingles to another minimum-salary contract, Beringer is an 18-year-old who will be playing stateside for the first time and Ingles shifted into the “locker room leader” phase of his career last season by logging 114 total minutes in 19 outings. It’s probably not realistic to expect major contributions from either player this season.
Up next
The Timberwolves entered the day on Monday with just 13 players on standard contracts and a team salary roughly $5.86MM below the second tax apron. Bones Hyland has since signed a contract – presumably worth the minimum – that could line him up to be Minnesota’s 14th man.
It’s possible Hyland will simply get that 14th roster spot and the Timberwolves will carry a 14-man standard roster into the regular season, but it’s not quite that simple.
For one, we don’t know yet how much (if any) of Hyland’s salary is guaranteed. Is he being handed a roster spot or will he have to compete for one? If it’s the latter, he could be the first of a handful of veteran free agents to reach deals with the Wolves, similar to how the Knicks agreed to terms with Landry Shamet, Garrison Mathews, and Malcolm Brogdon in a 24-hour span last week.
Minnesota also has enough wiggle room below the second apron to add a 15th man on a minimum deal or even using a modest portion of the taxpayer mid-level exception. But the Wolves are far enough into the tax that they’d be paying a penalty of $3.50 per dollar on that 15th man’s salary, so it would have to be someone they really like.
For what it’s worth, I’ve long thought that it would be in the Wolves’ best interest to add another veteran point guard to provide depth behind Mike Conley, who will be entering his age-38 season. Donte DiVincenzo and Hyland aren’t really true point guards, and it’s unclear if Dillingham will be ready to take on that role in his second NBA season. Brogdon would’ve been a nice fit, but there are other options still out there, including Cameron Payne and another one of Connelly’s former Nuggets, Monte Morris.
The Wolves have an open two-way slot available alongside Enrique Freeman and second-round pick Rocco Zikarsky, but the expectation is that Tristen Newton will fill it. The 2024 second-rounder reportedly agreed a month-and-a-half ago to sign his two-way qualifying offer, but that move still hasn’t been officially confirmed by either the team or the league. Assuming it gets done as expected, Minnesota’s two-way players should be set for the season.
As for potential extension-eligible players, most of the Wolves’ core players are already on longer-term deals. The only players eligible for extensions this fall are DiVincenzo and Leonard Miller.
A DiVincenzo extension isn’t out of the question, but he has two guaranteed years left on his current contract, so I doubt the Wolves will be in a hurry to get something done with him at this point unless he’s willing to give them a pretty team-friendly rate.
Miller, meanwhile, has barely seen the floor in his first two NBA seasons, playing just 84 total minutes in 30 appearances. At this point, extending his current deal is probably less of a priority than simply making sure he shows enough to finish out that expiring contract without being waived.
Nets Sign David Muoka
The Nets have signed free agent center David Muoka, per NBA.com’s transaction log.
Muoka, who played his college ball for Lamar (2019-21) and UNLV (2021-23), spent a season with the Long Island Nets in 2023/24 before going undrafted in 2024. He signed an Exhibit 10 contract with the Trail Blazers last fall and had his G League rights traded from Long Island to the Rip City Remix (Portland’s affiliate) before they were rerouted to the Windy City Bulls a month later.
In 48 outings for Windy City last season, Muoka averaged 10.7 points, 8.5 rebounds, and 2.0 blocks in 26.5 minutes per game, making 66.5% of his shots from the field.
While an Exhibit 10 deal would make sense for a player like Muoka who has spent the past two years in the G League, Exhibit 10 contracts typically aren’t listed in the transaction log at NBA.com, so we’ll have to wait for more clarity on the exact details of the agreement.
Brooklyn now has a full 21-man offseason roster, though reported deals with Ricky Council IV and Grant Nelson have yet to be officially finalized, so the Nets will presumably do some additional roster shuffling in the coming weeks.
NBA 2025 Offseason Check-In: Miami Heat
Hoops Rumors is checking in on the 2025 offseason for all 30 NBA teams, recapping the summer’s free agent signings, trades, draft picks, departures, and more. We’ll take a look at each team’s offseason moves and consider what might still be coming before the regular season begins. Today, we’re focusing on the Miami Heat.
Free agent signings
Davion Mitchell: Two years, $24,000,000. Re-signed using Bird rights.- Dru Smith: Three years, $7,898,151. Second year non-guaranteed. Third-year team option. Re-signed using Early Bird rights.
- Dain Dainja: One year, minimum salary. Non-guaranteed (Exhibit 9). Signed using minimum salary exception.
- Trevor Keels: One year, minimum salary. Non-guaranteed (Exhibit 9). Signed using minimum salary exception.
- Gabe Madsen: One year, minimum salary. Non-guaranteed (Exhibit 9). Signed using minimum salary exception.
- Ethan Thompson: One year, minimum salary. Non-guaranteed (Exhibit 9). Signed using minimum salary exception.
- Jahmir Young: One year, minimum salary. Non-guaranteed (Exhibit 9). Signed using minimum salary exception.
Trades
- Acquired Simone Fontecchio from the Pistons in exchange for Duncan Robinson (sign-and-trade).
- Acquired Norman Powell (from Clippers) in a three-team trade in exchange for Kyle Anderson (to Jazz) and Kevin Love (to Jazz).
- Acquired the Nets’ 2026 second-round pick (top-55 protected) from the Nets in exchange for Haywood Highsmith and the Heat’s 2032 second-round pick.
Draft picks
- 1-20: Kasparas Jakucionis
- Signed to rookie scale contract (four years, $17,730,606).
Two-way signings
- Myron Gardner
- Two years, $85,300 partial guarantee; second year non-guaranteed.
- Vladislav Goldin
- One year, $85,300 partial guarantee.
Departed/unsigned free agents
- Alec Burks (unsigned)
- Josh Christopher (unsigned)
- Duncan Robinson (Pistons)
- Isaiah Stevens (Kings)
Other roster moves
- Exercised team option on Keshad Johnson ($1,955,377).
Salary cap situation
- Operating over the cap ($154.6MM) and below the luxury tax line ($187.9MM).
- Carrying approximately $186.1MM in salary.
- Hard-capped at $195,945,000.
- Full non-taxpayer mid-level exception ($14,104,000) available.
- Full bi-annual exception ($5,134,000) available.
- Five traded player exceptions available (largest worth $16,834,692).
The offseason so far
It was a forgettable season in 2024/25 for the Heat, who engaged in a lengthy standoff with disgruntled star Jimmy Butler that culminated in a deadline trade sending him to Golden State, then wrapped up the year with an underwhelming 12-21 post-deadline performance that dropped the team to the No. 10 spot in the Eastern Conference standings.
The club showed some signs of life in the play-in tournament by becoming the first No. 10 seed to win consecutive play-in games to make the playoffs, but once they got there, the Heat were on the wrong end of a historic beat-down by the top-seeded Cavaliers, who outscored Miami by a whopping 122 points in a four-game sweep.
As ugly as both the second half of the season and that first-round playoff series were, there were at least a couple positive takeaways that stemmed from the Heat’s trade deadline activity. The most obvious one was the play of Davion Mitchell, who was sent from Toronto to Miami as part of the five-team Butler blockbuster.
A defensive specialist who struggled offensively for most of his first three-and-a-half NBA seasons, Mitchell emerged as a starter and averaged 10.3 points and 5.3 assists per game with a .504/.447/.702 shooting line in 30 regular season games for the Heat. He was even better in the postseason, making 59.3% of his field goal attempts and 52.0% of his three-pointers with averages of 15.2 PPG and 6.5 APG in six play-in and playoff outings.
Mitchell’s excellent second half earned him a fully guaranteed two-year, $24MM commitment from the Heat. It was easily the most lucrative contract Miami handed out this offseason – the team’s other free agent signings will all earn the minimum in 2025/26 – and it should be a pretty safe investment as long as the offensive strides made last season by the former lottery pick weren’t a one-off.
At $12MM per year, Mitchell doesn’t necessarily need to replicate those strong second-half numbers in order to return positive value — as long as he produces enough to make opposing teams take him seriously as an offensive threat, his play on defense will keep him in the rotation on a consistent basis.
The other notable offseason move the Heat made as a result of their Butler trade was using the No. 20 overall pick in the draft on Kasparas Jakucionis. Having won both of their play-in games, the Heat were forced to sent their own lottery-protected pick (No. 15 overall) to Oklahoma City, but they received the Warriors’ first-rounder as part of the return for Butler, then used it to draft a one-and-done point guard out of Illinois.
Jakucionis didn’t get off to a great start at the California Classic Summer League, where he made just 1-of-15 field goals and had as many turnovers and personal fouls as points (12) in three games. But he was better in Las Vegas, and – as Jared McCain can attest – there’s certainly no guarantee a poor Summer League showing will carry over to the regular season. The Heat are optimistic about the long-term potential of Jakucionis within their developmental system.
Outside of the Mitchell signing and the Jakucionis pick, all of the Heat’s major offseason moves occurred on the trade market, including a sign-and-trade sending Duncan Robinson to Detroit in exchange for Simone Fontecchio and a three-team deal that saw Norman Powell land in Miami in exchange for Kyle Anderson and Kevin Love.
The Robinson transaction was an interesting one. It came as a bit of a surprise in June when the veteran sharpshooter opted out of $19.9MM contract that would have been partially guaranteed for $9.9MM. After all, if he had opted in, Robinson would have been guaranteed at least $9.9MM, with the opportunity to either reach the free agent market anyway (if Miami had waived him) or to make another $10MM (if Miami had kept him).
But the decision to opt out seemingly came with an understanding that the Heat would help Robinson get to a preferred destination. It ended up working out for both sides — Robinson got roughly $18.8MM in guaranteed money on his deal with the Pistons, right around what he would’ve gotten on his full Heat deal, while Miami acquired Fontecchio, whose $8.3MM cap hit will fit into the team’s budget much better than Robinson’s $19.9MM would have.
With the help of savings created by swapping out Robinson for Fontecchio, the Heat were able to take in Powell and his $20.5MM expiring deal in exchange for Anderson and Love, who will earn a combined $13.4MM in 2025/26. While Anderson is a solid role player and Love is a respected locker-room leader, neither player is as valuable as Powell, who is coming off a career year in which he scored 21.8 points per game and made 41.8% of his three-point tries.
The Heat were still operating below the first apron after their trade for Powell, but it left them about $1.6MM above the luxury tax line with 14 players under contract. To address the issue, they attached a 2032 second-round pick to Haywood Highsmith in a trade to Brooklyn, then replaced him by re-signing Dru Smith to a standard multiyear contract that includes one guaranteed season.
Highsmith is in the process of recovering from knee surgery and wasn’t an integral part of the Heat’s roster, but he’s a pretty dependable rotation player who could easily rebuild positive value by the trade deadline if he plays well in Brooklyn. Still, getting out of the tax was an important consideration for a Heat team that had been a taxpayer for the past two seasons and was wary of facing repeater penalties in future seasons.
Up next
The Heat don’t have enough room to add a 15th man to their standard roster without surpassing the luxury tax line. However, the tax line isn’t a hard cap — the team could go into the tax if it wants to, then make an effort to duck below it again later in the season.
The other option for the Heat if they want to bring in one more free agent would be to waive Terry Rozier, whose $26.6MM salary is only partially guaranteed for $24.9MM. Waiving Rozier and signing a newcomer on a minimum-salary deal would keep Miami out of tax territory, though the team still wouldn’t have enough room to add a 15th man while surpassing that threshold. Taking that route would also mean giving up a big expiring contract that could be used in a mid-season trade.
If the Heat do decide to bring in one more player for their regular season roster, it will likely be someone in the frontcourt, since the team is a little thin in the middle — especially if Bam Adebayo resists spending much time at the five. Precious Achiuwa is among the free agents who have been linked to the Heat, while former Miami center Thomas Bryant also remains unsigned for now.
The Heat have one two-way contract slot open alongside Vladislav Goldin and Myron Gardner, and it sounds like that spot will be up for grabs in training camp. Trevor Keels, Jahmir Young, Ethan Thompson, Gabe Madsen, and Dain Dainja are all on Exhibit 10 contracts that can be converted into two-way deals, so they all could be involved in that competition.
The front office will have a major decision to make next month on Tyler Herro, who becomes extension-eligible as of October 1. Owed $64MM over the next two seasons, Herro could sign for as much as $149.7MM over three seasons (beginning in 2027/28). He certainly made a case for a lucrative new deal with his performance last season — he set career highs in points (23.9) and assists (5.5) per game, as well as field goal percentage (47.2%), and made an All-Star team for the first time.
Still, Herro isn’t really a true point guard, has repeatedly battled injuries, and is hardly a lock-down defender. The Heat will be wary of making a massive investment in the 25-year-old, especially since he still has two guaranteed years left on his current contract and doesn’t necessarily have to be extended quite this early. If the two sides don’t agree to terms before the coming season, they could revisit talks next summer.
The Heat have no shortage of additional extension candidates, with Powell, Andrew Wiggins, and Nikola Jovic also eligible to sign new contracts. Of the three, only Jovic has a preseason deadline, meaning those negotiations may be prioritized. But Jovic’s role and availability have been inconsistent through three NBA seasons, so unless Miami can get a pretty team-friendly rate (ie. no more than $10-12MM per year), I’d be somewhat surprised if the two sides work something out this fall.
Powell and Wiggins, meanwhile, will remain extension-eligible into the season, and it sounds like the Heat will wait on Powell to get a better sense of his fit on the roster. It might make sense to take the same path with Wiggins, whose first couple months with the Heat last season were frequently interrupted by health issues, which prevented him really getting into a rhythm with his new team.
Germany Defeats Turkey For EuroBasket Gold; Schröder Named MVP
A back-and-forth battle between a pair of 8-0 teams went down to the wire in Sunday’s EuroBasket championship game, with Kings point guard Dennis Schröder helping to secure a gold medal for Germany by scoring the final six points and turning an 83-82 deficit into an 88-83 victory over Turkey.
Schöder (16 points, 12 assists), former NBA wing Isaac Bonga (20 points, 4-of-4 three-pointers), and Magic forward Franz Wagner (18 points, eight rebounds) were the standout performers for Germany, which has won two of the past three major international basketball competitions.
Although the Germans didn’t make the podium at the Paris Olympics last summer, the country is now the defending FIBA World Cup (2023) and EuroBasket (2025) champion and has posted a 21-2 record in those three tournaments, per HoopsHype (Twitter link).
Germany outlasted a Turkish national team that was led by Rockets center Alperen Sengun (28 points), former NBA forward Cedi Osman (23 points, 6-of-9 on three-pointers), former NBA guard Shane Larkin (13 points, nine assists, six rebounds), and Sixers big man Adem Bona (12 points, 5-of-5 shooting).
While they weren’t able to claim their first EuroBasket championship, Turkey matched their best-ever result by taking silver. The Turkish team lost to Yugoslavia in the 2001 final, which was the only other time the country made the championship game.
Schröder was named the EuroBasket Most Valuable Player after leading the Germans to their first title in the event since 1993. He scored at least 16 points in all nine games, averaging 20.3 points and 7.2 assists per contest.
The 2025 EuroBasket All-Star Five was made up entirely of NBA players, with Lakers guard Luka Doncic (Slovenia) and Bucks forward Giannis Antetokounmpo (Greece) joining Schröder, Wagner, and Sengun (Twitter link).
Antetokounmpo and the Greek national team beat Finland in the third-place game earlier on Sunday.
Free Agents Who Sign After Monday Won’t Be Trade-Eligible On December 15
Unless he’s part of a sign-and-trade deal, an NBA free agent who signs a new contract can’t be traded immediately. The Collective Bargaining Agreement states that a newly signed free agent is ineligible to be traded until December 15 or until he’s been under contract for three months, whichever comes later.
Based on that rule, the majority of the free agents who signed new contracts in July, August, and the first half of September will become trade-eligible on December 15 (a smaller group of free agents who met certain specific criteria won’t become trade-eligible until January 15).
By our count, at least 81 players are currently on track to become eligible to be moved on December 15. That doesn’t take into account any players signed to Exhibit 9 or Exhibit 10 contracts who might earn regular season roster spots, since they’re not included on our list (they’ll be added if they haven’t been waived by opening night).
However, with the exception of camp invitees who unexpectedly stick around for the regular season, that list won’t continue to expand to include any additional names after Monday, which will be exactly three months away from December 15. A free agent who signs a new contract after September 15 will remain trade-eligible for a full three months rather than becoming trade-eligible on December 15.
For instance, a player who signs on September 22 would become eligible to be dealt on December 22; one who signs on October 4 would become trade-eligible on January 4, and so on.
For most players, there will be no meaningful difference between becoming trade-eligible on December 15 or a few weeks later, since the majority of deals get done in the days leading up to February’s deadline anyway. But a pair of trades were completed on December 15 last season, as soon as certain players’ restrictions lifted. That sort of Dec. 15 trade won’t be possible this season for any free agent who signs after Monday.
It’s also worth noting that a player who is traded after December 16 can’t have his salary aggregated with another player’s salary in a separate deal prior to the trade deadline. That rule will further limit teams’ flexibility to make moves this winter involving late-September or October signees.
Finally, we should mention that November 5 is an important date in this discussion, since this season’s trade deadline will land on February 5. A player who signs a free agent contract on November 6 or later will be ineligible to be dealt during the 2025/26 season.
Once the season begins next month and we have a better sense of which players signed after Sept. 15 have earned spots on regular season rosters, we’ll publish a new list of those players’ trade eligibility dates to complement our December 15 and January 15 round-ups.
NBA 2025 Offseason Check-In: Houston Rockets
Hoops Rumors is checking in on the 2025 offseason for all 30 NBA teams, recapping the summer’s free agent signings, trades, draft picks, departures, and more. We’ll take a look at each team’s offseason moves and consider what might still be coming before the regular season begins. Today, we’re focusing on the Houston Rockets.
Free agent signings
Dorian Finney-Smith: Four years, $52,705,000. Third year non-guaranteed. Fourth-year player option (non-guaranteed if exercised). Trade kicker (3.232%). Signed using non-taxpayer mid-level exception.- Fred VanVleet: Two years, $50,000,000. Second-year player option. Re-signed using Early Bird rights.
- Clint Capela: Three years, $21,105,000. Trade kicker (5%). Signed using Bird rights and acquired via sign-and-trade from Hawks.
- Jeff Green: One year, minimum salary. Re-signed using minimum salary exception. Waived right to veto trade.
- Aaron Holiday: One year, minimum salary. Re-signed using minimum salary exception.
- Josh Okogie: One year, minimum salary. Signed using minimum salary exception.
- Jae’Sean Tate: One year, minimum salary. Re-signed using minimum salary exception.
- Cameron Matthews: One year, minimum salary. Non-guaranteed (Exhibit 10). Signed using minimum salary exception.
Trades
- Acquired the draft rights to Mojave King (from Pelicans), the Bulls’ 2026 second-round pick (from Wizards) and the Kings’ 2029 second-round pick (from Wizards) in a three-team trade in exchange for Cam Whitmore (to Wizards).
- Acquired Kevin Durant (from Suns) and Clint Capela (sign-and-trade; from Hawks) in a seven-team trade in exchange for Jalen Green (to Suns), Dillon Brooks (to Suns), David Roddy (two-way; to Hawks), the draft rights to Khaman Maluach (No. 10 pick; to Suns), the draft rights to Jahmai Mashack (No. 59 pick; to Warriors), either the Thunder’s, Mavericks’, or Sixers’ 2026 second-round pick (whichever is second-most favorable; to Suns), either the Clippers’ 2026 second-round pick or the most favorable of the Celtics’, Pacers’, and Heat’s 2026 second-round picks (whichever is least favorable; to Nets), the Celtics’ 2030 second-round pick; to Nets), the right to swap 2031 second-round picks (56-60 protected; to Hawks), and cash ($85,300; to Hawks).
Draft picks
- None
Two-way signings
- Isaiah Crawford
- One year, $85,300 partial guarantee (will increase to $318,218 at start of regular season).
- JD Davison
- One year, $85,300 partial guarantee (will increase to $318,218 at start of regular season).
- Kevon Harris
- One year, $25,000 partial guarantee.
Departed/unsigned free agents
- N’Faly Dante (Hawks)
- Jack McVeigh (Cairns Taipans)
Other roster moves
- Signed Jabari Smith Jr. to a five-year, $122,000,000 rookie scale contract extension that begins in 2026/27.
- Signed Steven Adams to a three-year, $39,000,000 veteran contract extension that begins in 2025/26.
- Waived Jock Landale (non-guaranteed contract).
- Waived Jeenathan Williams (non-guaranteed contract).
Salary cap situation
- Operating over the cap ($154.6MM) and above the luxury tax line ($187.9MM).
- Carrying approximately $194.7MM in salary.
- Hard-capped at $195,945,000.
- Portion of non-taxpayer mid-level exception ($1,404,000) available.
- One traded player exception available ($3,539,760).
The offseason so far
While some blockbuster NBA trades come out of nowhere, there are also plenty that finally get done after weeks – or even months – of rumors and speculation linking a player to a specific team. Anthony Davis being traded to the Lakers falls into the latter category; the deal that eventually sent Davis out of Los Angeles obviously falls into the former group.
The trade that sent Kevin Durant from Phoenix to Houston is another example of one of those long-running rumors that eventually came to fruition. When word broke that Durant was being dealt to Houston, it didn’t come as a shock like February’s Davis/Luka Doncic mega-deal did, because it just made so much sense.
Durant, who was said to be caught off-guard when the Suns discussed him in trade talks at the deadline, was long expected to seek an offseason trade, while the Rockets, armed with the young players and draft picks necessary to get a deal done, had just shown in their postseason loss to Golden State that they badly needed an infusion of offensive firepower.
Durant, even as he enters his age-37 season, is capable of providing just that, having continued to produce at an All-NBA level last season (26.6 points per game on .527/.430/.839 shooting). While he’s no longer the defensive force he was during his prime years, the Rockets will be happy if the 15-time All-Star continues to put up his typical scoring numbers and gives head coach Ime Udoka a reliable bucket-getter who can create his own shot in clutch situations.
The Durant deal between the Suns and Rockets eventually turned into a seven-team monstrosity that folded several separate trade agreements into a single transaction, but there were essentially three crucial outgoing pieces from Houston’s perspective in the Durant portion of the trade: Jalen Green, Dillon Brooks, and this year’s No. 10 overall pick.
Green’s three-year extension, which begins this year, was practically designed to make him a trade chip. And when he struggled in his first playoff series, scoring no more than 12 points in six of seven games, it sealed his fate. Green will be given an opportunity in Phoenix to make another leap, but the Rockets – eager to take a step toward title contention right now – couldn’t afford to wait to see whether or not that would happen.
Giving up this year’s No. 10 pick also wasn’t a major sacrifice for the Rockets, who had the No. 3 pick a year earlier and ended up barely utilizing the player they selected with it (Reed Sheppard). If Houston had kept its 2025 first-rounder, it would’ve been a tall order for the team’s latest lottery selection to crack the rotation anytime soon.
Of those outgoing pieces, Brooks actually might be the one the Rockets miss the most in the short term. A locker-room leader and a tenacious defender, the forward played an important role in Houston, and the club is unlikely to ask Durant to take on the same defensive assignments that Brooks handled. As a result, going out in free agency and landing another defensive-minded wing capable of guarding high-level perimeter scorers was a priority for the front office.
That search eventually landed with a four-year, $52.7MM commitment to Dorian Finney-Smith that is more team-friendly than it initially looked. Only the first two years of Finney-Smith’s new contract are guaranteed, giving Houston some flexibility to get out of the deal in a year or two if things don’t work out. Still, based on how Finney-Smith helped transform the Lakers’ defense last winter after a mid-season trade sent him from Brooklyn to Los Angeles, there’s no reason to think the wing won’t be an asset for the Rockets.
Houston also used the minimum salary exception to add Josh Okogie, another versatile wing who will give the team energy and defense off the bench.
Having brought back several players from last season’s roster on more team-friendly deals – Fred VanVleet took a pay cut to $25MM, while Aaron Holiday and Jae’Sean Tate re-signed for the minimum – the Rockets still had a little financial flexibility below a first-apron hard cap after agreeing to trade for Durant and striking a deal with Finney-Smith.
Interestingly, Houston used that remaining flexibility below the first apron to acquire Clint Capela via sign-and-trade, incorporating that agreement with Atlanta into the super-sized Durant deal so as not to send out any additional salary.
It was a curious move for a team that already has Alperen Sengun and newly extended backup center Steven Adams in the middle, but after having success with lineups that featured both Sengun and Adams down the stretch last season, the team seems prepared to continue leaning into those bigger looks going forward. Having Capela in the mix as well will give the Rockets more reliable depth up front and more flexibility to mix and match those two-big units.
The Rockets’ other two major transactions of the summer featured first-round picks from 2022 and 2023: the team doubled down on its investment in 2022’s No. 3 overall pick, Jabari Smith Jr., by signing him to a five-year, $122MM extension, but decided to move on from 2023 first-rounder Cam Whitmore, trading him to Washington for a pair of second-round picks.
Whitmore showed off some intriguing scoring upside during his first two NBA seasons, but Smith’s all-around game – including his stout defense – is a better fit for Houston’s roster and for Udoka’s philosophy. Smith’s numbers dipped a little in an injury-shortened 2024/25 season, but there’s reason to believe his game still has more room to grow — he just turned 22 years old in May.
Up next
The Rockets have an opening on their projected 15-man roster, but they don’t have enough room below their hard cap to actually sign a 15th man until January, so their standard roster looks set. Their three two-way contract slots have also been filled, which means their preseason signings and cuts figure to be about securing G League rights and lining up bonuses for Rio Grande Valley Vipers players.
Still, it won’t be a quiet October in Houston. The team has two big contract decisions to make, as both Durant (veteran) and Tari Eason (rookie scale) are eligible to sign extensions.
Since Durant is on an expiring contract, he’ll remain extension-eligible all season long, so there’s not necessarily an urgency to get something done with him before opening night, but it’s frankly a little surprising that the two sides don’t already have an agreement in place. When Durant was on the trade block, Houston was said to be one of the teams he’d be willing to sign an extension with, but the team has seemingly been in no rush to finalize a new contract.
Reports in August indicated that the two sides are still expected to work something out, but that the Rockets may be reluctant to give Durant a maximum-salary deal (roughly $119MM over two years). That would explain the delay and is an understandable position to take, given that a two-year extension would cover KD’s age-38 and -39 seasons.
I’d still expect Houston to put a lucrative offer on the table, but it will be interesting to see whether the team will be willing to guarantee more than one additional season beyond 2025/26. For the sake of comparison, when the Clippers re-signed James Harden in July, they gave him one guaranteed year (for age 36), with a partially guaranteed player option ($13.3MM of $42.3MM) on the second year.
Negotiations with Eason won’t be simple either, especially since the two sides face an October 20 deadline. If no deal is reached by that point, the fourth-year forward will head to restricted free agency in 2026.
Having lost Brooks, the Rockets will probably be relying on Eason to step up and play an increased role in 2025/26, and the 24-year-old has shown real promise as a three-and-D wing. But Houston’s roster is getting increasingly expensive and the team will also have to make a substantial investment in Amen Thompson when he becomes extension-eligible next summer.
The front office will have to be careful about how much it’s prepared to commit to Eason, a solid contributor with untapped potential who still probably isn’t one of the club’s five or six most important players.
Fischer’s Latest: Kuminga, Bulls, Knicks, Bryant, Sixers, More
The Bulls are unlikely to emerge as a viable sign-and-trade suitor for Warriors restricted free agent Jonathan Kuminga after agreeing to re-sign their own RFA (Josh Giddey), according to Jake Fischer of The Stein Line (Substack link). However, Fischer suggests that Chicago is worth keeping an eye on as a future landing spot for Kuminga, given that the Bulls project to have significant cap room beginning in 2026.
The fact that the Bulls and many other teams around the NBA should have cap space available next summer is one reason why Kuminga is “strongly considering” accepting his $8MM qualifying offer, which would allow him to hold an implicit no-trade clause for the coming season and reach unrestricted free agency in 2026, Fischer writes. While Kuminga’s preference would be to negotiate a longer-term deal, the Warriors haven’t yet seemed inclined to budge off their two-year, $45MM offer that includes a second-year team option.
Still, there’s a sense that a resolution on Kuminga might not be far off. Anthony Slater of ESPN said during an NBA Today appearance (YouTube link) that there have been “renewed efforts” this week to bridge the gap between the two sides, while Fischer says people connected to the negotiations believe there could be movement within the next week.
Here’s more from Fischer:
- The Knicks weighed the possibility of signing free agent big man Thomas Bryant but ultimately decided to prioritize depth in the backcourt and on the wing, league sources tell Fischer. The team reached non-guaranteed deals this week with Malcolm Brogdon, Landry Shamet, and Garrison Mathews, who will each compete for a roster spot.
- Following up on his report about Sixers veterans Andre Drummond and Kelly Oubre Jr. being on the trade block, Fischer clarifies that the front office doesn’t appear to be operating with any sort of “clear-cut directive” to move either player. Trading Drummond and/or Oubre without taking back any salary would help create a more favorable cap/tax situation as Philadelphia looks to re-sign restricted free agent Quentin Grimes.
- The Kings‘ decision to waive Terence Davis, who had a non-guaranteed contract, likely signals that they don’t expect to need his outgoing salary for matching purposes in a trade before the season, Fischer observes. “The only reason for Sacramento to have kept Davis this long was to have potentially used him in a trade,” one league source told The Stein Line.
- Celtics big man Luka Garza had hoped to suit up for Bosnia and Herzegovina at this year’s EuroBasket tournament but has yet to be cleared by FIBA, according to Fischer, who explains that Garza’s appeal will be heard after EuroBasket ends. If he gets clearance, Garza could represent Bosnia and Herzegovina at the 2027 World Cup.
Turkey Ousts Greece, Will Vie For EuroBasket Gold
Turkey jumped out to a 12-point lead in the first quarter of Friday’s EuroBasket semifinal vs. Greece and never looked back, expanding that lead in each quarter en route to a 94-68 blowout win.
The victory secures Turkey’s spot in the EuroBasket championship game on Sunday. It will be the first time since the country hosted the tournament in 2001 that it has competed in the gold medal game — Turkey lost to Yugoslavia 24 years ago and has never won a EuroBasket title.
Rockets center Alperen Sengun had another big game on Friday, racking up 15 points, 12 rebounds, and six assists as Turkey outscored Greece by 24 points during his 33 minutes of action. However, the team’s leading scorers were forward/center Ercan Osmani, who had 28 points on 11-of-15 shooting, and Cedi Osman, who scored 17 points on 7-of-12 shooting and was a team-best +32.
Osmani was also the primary defender against Greek star Giannis Antetokounmpo, who had his worst game of the tournament with just 12 points on 6-of-13 shooting. The Bucks forward, who had scored at least 25 points in each of his five previous EuroBasket games, had 12 rebounds and five assists, but committed five turnovers and was a -30 in 30 minutes.
Turkey and Germany will square off for EuroBasket gold on Sunday with their matching undefeated (8-0) records on the line. The Germans have three active NBA players and two former NBAers on their roster, including Franz Wagner of the Magic and Dennis Schröder of the Kings; Turkey’s roster features two current NBA players – Sengun and Sixers big man Adem Bona – and five ex-NBA players.
Greece, meanwhile, will go up against Lauri Markkanen and the Finnish national team in Sunday’s third-place game.
Tom Dundon Signs Agreement To Buy Trail Blazers
Nearly a month after reaching a tentative deal to buy the Trail Blazers, prospective owner Tom Dundon has formally signed a purchase agreement, according to reports from Bill Oram of The Oregonian and Eben Novy-Williams of Sportico.
Oram adds that the sale, which still requires NBA approval, is expected to formally close before the end of the 2025/26 season. A prior report indicated that a target date of March 31 had been set.
Blue Owl Capital co-president Marc Zahr and co-CEO of Collective Global Sheel Tyle are among the other investors who are part of Dundon’s group, which intends to keep the team in Portland. A statement on Friday indicated that the Cherng Family Trust – the family trust of Panda Express co-founders Andrew Cherng and Peggy Tsiang Cherng – has signed on as an investor as well.
As Sportico reported in August, Dundon’s group is expected to submit two separate payments as part of its purchase — one when the sale closes and one at a later date. The “blended” valuation of the franchise via those two payments will reportedly be about $4.25 billion.
According to Oram, Dundon and his group beat out a bid from RAJ Sports and the Bhathal family, which controls the Portland Thorns in the NWSL and the Portland Fire, the WNBA expansion team that will make its debut next season.
The Trail Blazers announced their plans to sell the franchise back in May. Paul Allen, the longtime Blazers owner who purchased the franchise for $70MM in 1988, passed away on October 15, 2018, resulting in control of the team being transferred to his sister Jody Allen, the trustee and executor of his estate.
The plan following Paul Allen’s death was for ownership of the Blazers to eventually change hands as part of an estate sale, which is the process that’s playing out now. All estate proceeds as a result of the Blazers sale will be directed toward philanthropy, per the late Allen’s wishes.
Germany Into EuroBasket Final With Win Over Finland
Germany will compete in the gold medal game at EuroBasket for the first time since 2005 after defeating Finland by a score of 98-86 in the first of the tournament’s semifinals on Friday.
Germany piled up 61 first-half points and withstood a third-quarter surge from the Finnish team to hang onto its lead. A trio of NBA players were the team’s top scorers, with Dennis Schröder leading the way. The Kings point guard totaled 26 points, 12 assists, and five rebounds, and was a +22 in his 31-plus minutes on the court.
Franz Wagner (22 points, five rebounds) and Tristan Da Silva (13 points, four rebounds) of the Magic also played key roles for the Germans, who got contributions from former NBA players like Daniel Theis (10 points, 11 rebounds) and Isaac Bonga (10 points, five rebounds) as well.
Jazz forward Lauri Markkanen was Finland’s star player over the course of the tournament but struggled to make an impact on Friday. Although he scored 16 points, Markkanen needed 17 field goal attempts to earn those points and was a -24 in 28 minutes of action.
It will still be a historic finish for Finland, which made the EuroBasket final four for the first time ever. Markkanen and the Finnish team will compete in the third-place game on Sunday in the hopes of claiming a bronze medal.
As for Germany, EuroBasket 2025 represents the latest deep run for a national team that has been one of the world’s best in recent years. The Germans finished third at EuroBasket 2022, won the 2023 World Cup, and placed fourth at the 2024 Olympics.
Greece and Turkey will square off this afternoon for the right to face Germany in Sunday’s final, with the loser taking on Finland in the third-place game.