2025 NBA Qualifying Offer Recap
Players eligible for restricted free agency don’t become restricted free agents by default. In order for a team to make a player a restricted free agent, it must extend a qualifying offer to him. The qualifying offer, which is essentially just a one-year contract offer, varies in amount depending on a player’s previous contract status.
A qualifying offer is designed to give a player’s current team the right of first refusal. Because the qualifying offer acts as the first formal contract offer a free agent receives, his team then has the option to match any offer sheet the player signs with another club. If a player doesn’t receive a qualifying offer, he becomes an unrestricted free agent and is free to sign with any team — his previous club is given no formal opportunity to match.
You can read more about qualifying offers here.
Listed below are the details on which players did and didn’t receive qualifying offers this summer. Our list is based on various reports and team announcements leading up to the June 29 deadline, along with confirmation from RealGM’s official NBA transactions log.
It’s possible that one or two qualifying offers slipped through the cracks and will be reported later today before free agency officially gets underway — if so, we’ll update this list.
For now though, this is what the qualifying offer landscape looks like. The players who received QOs will be restricted free agents, while the players who didn’t will be unrestricted. We’ve updated our free agents lists by position and by team to reflect the changes.
Received qualifying offers:
Players on standard contracts:
Note: Qualifying offers marked with an asterisk (*) are based on a projected $154,647,000 salary cap and would increase or decrease if the cap comes in higher or lower than that.
Josh Giddey, Bulls ($11,142,058)- Quentin Grimes, Sixers ($8,741,210)
- Davion Mitchell, Heat ($8,741,209)
- Note: Mitchell reportedly has a two-year, $24MM contract agreement in place with the Heat.
- Jonathan Kuminga, Warriors ($7,976,830)
- Isaiah Jackson, Pacers ($6,422,432)
- Cam Thomas, Nets ($5,993,172)
- Santi Aldama, Grizzlies ($5,940,797)
- Ajay Mitchell, Thunder ($4,050,000)
- Note: Mitchell reportedly has a three-year, $9MM contract agreement in place with the Thunder.
- Ryan Rollins, Bucks ($2,578,870) *
- Justin Edwards, Sixers ($2,248,494) *
- Note: Edwards reportedly has a three-year contract agreement in place with the Sixers.
Players on two-way contracts:
Note: Qualifying offers for two-way players are one-year, two-way contracts with a guarantee of approximately $85K unless otherwise indicated.
- Taran Armstrong, Warriors
- Branden Carlson, Thunder
- Isaiah Crawford, Kings
- N’Faly Dante, Rockets
- Jesse Edwards, Timberwolves
- Tyson Etienne, Nets
- Trentyn Flowers, Clippers
- Enrique Freeman, Pacers
- Collin Gillespie, Suns
- Harrison Ingram, Spurs
- Quenton Jackson, Pacers
- Note: Jackson’s qualifying offer is a one-year, minimum-salary contract with a partial guarantee of approximately $102K.
- Daniss Jenkins, Pistons
- Spencer Jones, Nuggets
- Christian Koloko, Lakers
- Nico Mannion, Warriors
- Note: Mannion hasn’t played in the NBA since 2021, but the Warriors issued him a qualifying offer in order to retain his RFA rights in case he returns to the league.
- Mac McClung, Magic
- Kevin McCullar, Knicks
- Emanuel Miller, Bulls
- Riley Minix, Spurs
- Tristen Newton, Timberwolves
- Dru Smith, Heat
- Note: Smith’s qualifying offer is a one-year, minimum-salary contract with a partial guarantee of approximately $102K.
- Cam Spencer, Grizzlies
- Jacob Toppin, Hawks
- Luke Travers, Cavaliers
- Oscar Tshiebwe, Jazz
- Tristan Vukcevic, Wizards
- Keaton Wallace, Hawks
Did not receive qualifying offers:
Players on standard contracts:
Dominick Barlow, Hawks- Caleb Houstan, Magic
- Tre Mann, Hornets
- Josh Minott, Timberwolves
- Day’Ron Sharpe, Nets
- Pat Spencer, Warriors
- Jabari Walker, Trail Blazers
- Ziaire Williams, Nets
- Note: Williams reportedly has a two-year, $12MM contract agreement in place with the Nets.
Players on two-way contracts:
- Trey Alexander, Nuggets
- Emoni Bates, Cavaliers
- Reece Beekman, Nets
- Jalen Bridges, Suns
- Keion Brooks, Pelicans
- Jamal Cain, Pelicans
- Jeff Dowtin, Sixers
- Alex Ducas, Thunder
- David Duke, Spurs
- Kessler Edwards, Mavericks
- Adam Flagler, Thunder
- PJ Hall, Nuggets
- Bones Hyland, Timberwolves
- Mason Jones, Kings
- Yuki Kawamura, Grizzlies
- E.J. Liddell, Bulls
- Bryce McGowens, Trail Blazers
- Jack McVeigh, Rockets
- Justin Minaya, Trail Blazers
- Drew Peterson, Celtics
- Micah Potter, Jazz
- Trevelin Queen, Magic
- Isaiah Stevens, Heat
- JT Thor, Wizards
- Stanley Umude, Bucks
- Anton Watson, Knicks
Nets, Ziaire Williams Agree To Two-Year Deal
Free agent wing Ziaire Williams has agreed to sign a two-year, $12MM contract to remain with the Nets, reports Shams Charania of ESPN (Twitter links). According to Charania, the second year of the deal will be a team option.
Williams, a former No. 10 overall pick who was acquired from Memphis in a trade last offseason, averaged 10.0 points and 4.6 rebounds in 24.5 minutes per game across 63 outings (45 starts) for Brooklyn in 2024/25.
While his 34.1% three-point percentage wasn’t great for a wing, it was a noticeable step up from the 30.1% mark he posted in his first three NBA seasons, and he showed off impressive defensive versatility, even handling center duties in a pinch.
The Nets opted against tendering Williams an $8.35MM qualifying offer that would have made him a restricted free agent, but that was more about their cap management than their level of interest in a new deal with the 23-year-old. As an RFA, he would have had a cap hold exceeding $18MM, cutting into Brooklyn’s projected cap space in free agency.
Now, the Nets will just have to earmark a small portion of cap room (likely between $5-6MM, based on the terms reported by Charania) to bring back Williams. The team could also fit his new contract into the $8.8MM room exception.
The second-year team option will also give Brooklyn some flexibility next offseason, though it’s still to be determined whether the club intends to open up significant cap room again in 2026.
A player who re-signs with his previous team on a one-year contract or a two-year deal that includes a second-year team option typically has the right to veto a trade during the following season. However, a player can agree to give up that right as part of the contract negotiation. It’s not yet known whether Williams will do so.
In the wake of Sunday’s player and team option decisions, Williams had moved up to No. 43 on our list of 2025’s top 50 free agents.
QO Updates: J. Walker, A. Mitchell, Two-Ways, Mann
The Trail Blazers opted not to tender forward Jabari Walker a qualifying offer prior to Sunday’s deadline, reports Sean Highkin of The Rose Garden Report (Twitter link). As a result, Walker will become an unrestricted free agent.
Walker put up solid numbers in a limited role for Portland last season, averaging 5.2 points and 3.5 rebounds in 12.5 minutes per game, with a .515/.389/.690 shooting line, across 60 appearances. However, his playing time dropped off significantly from the previous year, a signal that the Blazers were prioritizing other young players over the 22-year-old.
Meanwhile, the Thunder issued Ajay Mitchell a qualifying offer, according to Keith Smith of Spotrac (Twitter link), who notes that it’s a procedural move for Oklahoma City, since the second-year guard has already agreed to sign a three-year, $9MM contract with the team. The QO will just ensure he’s a restricted free agent when free agency opens — he’ll be able to officially finalize that new deal on July 6.
The following players who finished the 2024/25 season on two-way contracts also received qualifying offers ahead of Sunday’s deadline, per Smith (unless otherwise indicated):
- Branden Carlson, Thunder (link)
- Jesse Edwards, Timberwolves (link)
- Tyson Etienne, Nets (link)
- Trentyn Flowers, Clippers (link)
- Mac McClung, Magic (link)
- Tristen Newton, Timberwolves (link)
- Oscar Tshiebwe, Jazz (link via Tony Jones of The Athletic)
In each of these cases, the player’s qualifying offer is equivalent to another one-year, two-way deal, with a small portion (approximately $85K) guaranteed.
While a rival team could technically sign any of these players to an offer sheet during free agency, we essentially never see that happen with two-way free agents. Most of them end up either accepting their two-way QOs or agreeing to new standard contracts with their current teams.
While it’s possible that news of a qualifying offer slipped through the cracks within the last 24 hours, it appears that RealGM’s official transaction log is up to date with all of the QOs that were issued prior to Sunday’s deadline.
If that’s the case, one notable player who didn’t receive a qualifying offer is Hornets guard Tre Mann. His QO would have been worth about $6.96MM, but if Charlotte didn’t put it on the table, that means he’s on track to be unrestricted when free agency opens later today.
[UPDATE: Mann didn’t receive a qualifying offer, Michael Scotto of HoopsHype confirms (via Twitter).]
We’ll publish our full recap of 2025’s qualifying offer decisions later this morning.
Jazz Trade Collin Sexton To Hornets For Jusuf Nurkic
8:44 pm: The trade is official, according to press releases issued by both the Jazz and Hornets.
2:15 pm: The Jazz and Hornets have agreed to a trade that will send guard Collin Sexton and a 2030 second-round pick to Charlotte, with center Jusuf Nurkic headed to Utah, according to Shams Charania of ESPN (Twitter link).
The 2030 pick headed to Charlotte will be the most favorable of the Jazz’s and Clippers’ second-rounders, per Jake Fischer of The Stein Line (Twitter link).
Sexton, 26, spent four years in Cleveland before being signed-and-traded to Utah in 2022’s Donovan Mitchell deal. He has played for the Jazz for the past three seasons, averaging 18.4 points, 4.2 assists, and 2.7 rebounds in 27.9 minutes per game in 63 contests (61 starts) in 2024/25.
The Hornets had reportedly been on the lookout for a veteran guard to back up point guard LaMelo Ball. While Sexton is more of a combo guard than a traditional point guard, he can handle the ball and is a pretty efficient scorer — he posted a shooting line of .480/.406/.865 this past season.
The move does further deplete Charlotte’s frontcourt after the club previously agreed to trade Mark Williams to Phoenix. That position figures to be an area the Hornets focus on in free agency, since they’re unlikely to enter the season with Moussa Diabate and rookie Ryan Kalkbrenner as their top two options in the middle.
As for the Jazz, they’ll be adding a physical veteran center to their frontcourt, with Charania suggesting (via Twitter) that Nurkic is a player they like. The 30-year-old appeared in a total of 51 games last season for Phoenix and Charlotte, averaging 8.9 points, 7.8 rebounds, and 2.3 assists in 20.8 minutes per night.
Nurkic will join Walker Kessler and Kyle Filipowski on Utah’s depth chart at center. Meanwhile, moving Sexton may open up more playing time for the Jazz’s young guards, including newly drafted rookie Walter Clayton Jr.
Both Sexton and Nurkic are on expiring contracts in 2025/26. They’ll both be eligible for extensions in July and would become unrestricted free agents in 2026 if they don’t sign new deals before then. Sexton will earn approximately $18.98MM (with another $500K in unlikely bonuses) next season, while Nurkic will make about $19.38MM.
Bucks Re-Sign Bobby Portis To Three-Year Deal
July 7: The Bucks have put out a press release officially confirming that Portis is back under contract.
June 29: The Bucks and forward/center Bobby Portis have worked out a multiyear contract agreement, according to Shams Charania of ESPN (Twitter link), who reports that Portis intends to sign a three-year, $44MM pact that includes a third-year player option.
The contract will replace Portis’ $13.4MM player option for 2025/26, which he declined today in order to sign his new deal.
A reliable part of the Bucks’ frontcourt for the last five seasons, Portis earned Sixth Man of the Year votes in three of those years — he started too many games to qualify in one of the other two seasons, then only suited up a total of 49 times last season due to a 25-game suspension that cost him much of the second half.
In the suspension-shortened season, Portis averaged 13.9 points, 8.4 rebounds, and 2.1 assists in 25.4 minutes per game, with a .466/.365/.836 shooting line.
Portis recently spoke about a desire to be “compensated fairly” after accepting what he views as team-friendly contracts in recent years. While his new contract won’t give him a huge raise, it will pay him a higher annual salary than the four-year, $48.6MM deal he signed with Milwaukee in 2022.
Portis was one of two key members of the Bucks’ frontcourt eligible for free agency and had been considered more likely than fellow big man Brook Lopez to return to the team.
While Giannis Antetokounmpo trade speculation has run rampant since Milwaukee’s season ended, the two-time MVP hasn’t requested a change of scenery, so the Bucks are reportedly approaching their offseason as if he’s staying and are looking to make moves to complement him.
The terms of Portis’ contract suggest it could be finalized an extension in June rather than as a free agent deal in July. If that happens, he would remain trade-eligible rather than becoming ineligible to be dealt until December.
Thunder Re-Sign Ajay Mitchell To Three-Year Deal
July 6: Mitchell has officially re-signed with the Thunder, per NBA.com’s transaction log.
June 29: The Thunder will decline their 2025/26 team option on Ajay Mitchell, opting instead to sign the guard to a three-year contract worth $9MM, sources tell Shams Charania of ESPN (Twitter link).
The new deal will start in ’25/26, replacing the $3MM option.
The 38th overall pick in the 2024 draft, Mitchell initially signed a two-way contract with Oklahoma City, but earned rotation minutes during the first half of the season, averaging 6.5 points, 1.9 rebounds, and 1.8 assists in 16.6 minutes per game on a strong shooting line of .495/.383/.829 across 36 appearances.
However, Mitchell’s promising rookie season was derailed in January by a turf toe injury that kept him on the shelf for more than three months. He returned in the final week of the regular season, then played a limited role during the team’s title run, mostly playing in garbage time.
Having finalized a three-year extension with Jaylin Williams as well, the Thunder will have 14 of the 15 players from their championship team back under contract for next season once Mitchell’s deal is official. While it’s still early in the offseason and more moves are possible, it looks like replacing Dillon Jones with 2025 first-rounder Thomas Sorber may be the only real change Oklahoma City makes to its roster this summer.
Nets Make Cam Thomas RFA; No QOs For Ziaire WIlliams, Day’Ron Sharpe
The Nets have issued a qualifying offer to guard Cam Thomas, making him a restricted free agent, but have opted to pass on QOs for swingman Ziaire Williams and big man Day’Ron Sharpe, according to Michael Scotto of HoopsHype (all Twitter links).
Brooklyn would still like to work out new deals with Williams and Sharpe, Scotto explains, but tendering them qualifying offers would’ve cut into the team’s cap room, since Williams would have had a cap hold of over $18MM while Sharpe’s would have been nearly $12MM.
Thomas, on the other hand, seems like a good candidate to command a starting salary higher than his $12.1MM cap hold, so giving him a qualifying offer shouldn’t affect Brooklyn’s cap room and will reduce his potential flight risk. As long as they keep that qualifying offer in place and Thomas’ $12.1MM cap hold on their books, the Nets will be able to go over the cap to sign him to a more lucrative deal using his Bird rights, once their cap room has been used up.
Thomas was limited to just 25 appearances in 2024/25 due to hamstring injuries, but continued to show off an elite scoring ability when healthy, averaging a career-high 24.0 points and 3.8 assists per game. His qualifying offer is worth just shy of $6MM.
Williams, who was acquired from Memphis in a trade last offseason, averaged 10.0 points and 4.6 rebounds in 24.5 minutes per game across 63 outings (45 starts). His .341 3PT% wasn’t great, but it was a noticeable step up from the 30.1% mark he posted in his first three NBA seasons, and he showed off his defensive versatility, even handling center duties in a pinch. His QO would have been worth $8.35MM.
Sharpe, who has battled some injuries since entering the league, averaged 7.9 points and 6.6 rebounds in 18.1 minutes per night (50 games) in 2024/25. A Nets team that finished the season with a 26-56 record and a -7.3 net rating outscored its opponents by 2.1 points per 100 possessions when Sharpe was playing, which was – by far – the best mark of any rotation player who finished the season on Brooklyn’s roster. His QO would have been worth $5.98MM.
Although the Nets have interest in retaining Williams and Sharpe, passing on their qualifying offers means they will be unrestricted free agents and Brooklyn will no longer have the right of first refusal if they want to sign with another club.
Point Guard Rumors: Paul, Suns, Clippers, Hornets, Ty. Jones, Magic
A return to the Suns is a possible outcome for Chris Paul in free agency, according to Marc Stein and Jake Fischer of The Stein Line (Substack link).
As Stein and Fischer explain, the Suns are likely to be in the market for point guard help if Tyus Jones exits in free agency. Paul, meanwhile, is known to prefer to play closer to his family in Los Angeles. While an earlier report suggested the veteran point guard would like to play in L.A., it sounds like he’ll consider other options out west as well.
That doesn’t mean that playing with a Los Angeles team is off the table for Paul, however. According to Stein and Fischer, the Clippers are “weighing” a reunion with Paul, who played for the organization for six seasons from 2011-17. Even with James Harden expected to return, the Clips are known to be in the market for another guard, having been linked to Nickeil Alexander-Walker, among others.
While the Mavericks‘ interest in Paul has been reported for weeks, it doesn’t sound like CP3 is enthusiastic about spending another year in Texas, away his family, after playing in San Antonio in 2024/25. As Stein and Fischer note, there’s also a sense that the Mavs might be headed for a deal with D’Angelo Russell to address the point guard hole created by Kyrie Irving‘s ACL tear.
The Hornets had been mulling a run at Paul, a North Carolina native, but recognized that he was unlikely to have interest in playing for a rebuilding team so far away from his home, per Stein and Fischer. Charlotte pivoted to another veteran guard, having made a deal with Utah this afternoon to acquire Collin Sexton.
Meanwhile, with Jones seemingly headed for a split with the Suns, one of the teams with interest in him is the Magic, according to The Stein Line’s duo. While Jones wasn’t an ideal fit in Phoenix, the 29-year-old still put up solid offensive numbers, including 10.2 points and 5.3 assists per game with a 41.4% mark on three-point attempts.
Free Agent Notes: Rollins, CP3, Aldama, Grimes, Wolves, E. Miller
The Bucks have tendered a qualifying offer to guard Ryan Rollins, making him a restricted free agent, a league source tells Eric Nehm of The Athletic (Twitter link).
After starting the 2024/25 season on a two-way contract in Milwaukee, Rollins was promoted to a rest-of-season standard deal in March. He played a regular role in the backcourt, especially when Damian Lillard missed time for health reasons, and had a solid season, with averages of 6.2 points, 1.9 assists, and 1.9 rebounds in 14.6 minutes per game, along with a shooting line of .487/.408/.800.
His qualifying offer is worth a projected $2.58MM and will give the Bucks the right of first refusal in the event that he signs an offer sheet with a rival team.
Here are a few more free agency notes and rumors from around the NBA:
- Echoing other recent reporting, Tim Reynolds of The Associated Press (Twitter link) says the belief around the NBA is that veteran point guard Chris Paul will play at least one more season and wants to do so in Los Angeles to be close to his family. It’s unclear whether that means the Clippers and Lakers will be the only options he considers or whether other West Coast teams might be in play.
- Zach Lowe of The Ringer (YouTube link; hat tip to RealGM) says he has heard that Grizzlies restricted free agent Santi Aldama will have “full mid-level deals waiting for him” when he hits the market. Memphis would have the ability to match any offer sheet Aldama signs or could simply directly negotiate a new deal with him.
- Within a story that examines the challenges the Sixers will face as they try to retain both Quentin Grimes and Guerschon Yabusele in free agency, Tony Jones of The Athletic cites sources who say Grimes is hoping to sign a contract that averages $25MM annually. An earlier report indicated the restricted free agent guard is expected to land a starting salary worth at least $16MM.
- The Timberwolves, who are expected to lose Nickeil Alexander-Walker in free agency, would like to add another ball-handler if they can, tweets Jon Krawczynski of The Athletic. Minnesota likely won’t be able to offer outside free agents more than the veteran’s minimum due to the team’s position relative to the second tax apron.
- The Bulls have issued a two-way qualifying offer to forward Emanuel Miller, reports Michael Scotto of HoopsHype (Twitter link). The move makes Miller a restricted free agent after he had a solid 2024/25 season in the G League with the Texas Legends and Windy City Bulls.
Heat’s Duncan Robinson Opting Out Of Contract
Heat forward Duncan Robinson is opting out of his contract for 2025/26 in order to become an unrestricted free agent, according to Shams Charania of ESPN (Twitter link), who says the veteran sharpshooter will work with the team to either figure out a new deal or accommodate a move elsewhere.
Robinson held an early termination option ahead of the ’25/26 season rather than a traditional player option. They have similar functions, but in order to become a free agent, Robinson will technically exercise the option to terminate his contract early, rather than declining that option and playing out his contract. If it were a traditional player option, exercising it would mean opting in.
Had Robinson opted into the final year of his deal, his $19.9MM salary for ’25/26 would have become partially guaranteed for $9.9MM, which would have forced Miami to decide whether to guarantee his remaining $10MM or waive him in order to create $10MM in savings.
Now that Robinson has opted out, he’s not guaranteed any of that money. But he the Heat could potentially work out a multiyear deal that features a more team-friendly cap hit and ensures that the 31-year-old still earns that $9.9MM — and then some.
The possibility of a new three-year deal to keep Robinson in Miami is one idea that has been floated, tweets Tim Reynolds of The Associated Press.
One of the NBA’s best three-point shooters, Robinson has fired up 7.2 attempts per game from beyond the arc in 423 regular season appearances and has knocked down 39.7% of them. In 2024/25, he averaged 11.0 points, 2.4 assists, and 2.3 rebounds in 24.1 minutes per game, with a shooting line of .437/.393/.887, across 74 outings (37 starts).
As Barry Jackson of The Miami Herald tweets, Robinson’s decision takes the Heat from $8MM over the projected luxury tax line to $12MM below it. That gives the team enough breathing room below the tax to either bring back the forward on a new contract or perhaps add a replacement via trade/sign-and-trade or the mid-level exception.