Stein’s Latest: Nets, Butler, Giannis, Suns, Nembhard, Coaches
The Nets are the only NBA team projected to have maximum-salary cap room during the 2025 offseason, but they have no plans to pursue Heat forward Jimmy Butler, who could be the biggest free agent on the market next summer, reports Marc Stein in his latest Substack article.
According to Stein, despite their impressive cap flexibility and stash of future draft assets, the Nets aren’t necessarily locked in on the idea of pursuing a star via trade or in free agency over the summer — if no favorable opportunities to land a star arise, they may simply be patient and continue building through the draft.
On the other hand, if Giannis Antetokounmpo were to become available, that would substantially alter the Nets’ plans, according to Stein, who says rumblings around the NBA suggest the Bucks forward would be Brooklyn’s “dream target” and that the Nets would make a push for him if Milwaukee were willing to trade him. That’s probably a long shot this year though, since have been no indications the Bucks would ever consider moving Antetokounmpo unless he specifically asked for it.
Here’s more from Stein:
- Stein is the latest reporter to confirm that there’s strong mutual interest between the Suns and Butler. “I’ve heard they want him bad,” one league source told Stein. Still, until Phoenix can find a taker for Bradley Beal and get Beal to sign off on that destination, the Suns don’t have a path to acquiring the Heat forward.
- Andrew Nembhard would be an ideal target for a team facing apron restrictions due to his $2.02MM cap hit, his long-term team control, and his lack of poison pill restrictions following his extension. However, Stein says the Pacers guard is considered one of the most valuable assets on Indiana’s roster and is viewed as essentially “off-limits” in trade talks.
- Taking an early look at the Coach of the Year race, Stein describes Kenny Atkinson of the Cavaliers as the clear favorite and says he’d fill out his hypothetical ballot with Jamahl Mosley of the Magic at No. 2 and J.B. Bickerstaff of the Pistons at No. 3. Rockets head coach Ime Udoka earns an honorable mention.
Suns, Hornets Have Discussed Nick Richards, Jusuf Nurkic
The Suns and Hornets have had discussions about the idea of a trade that would send Jusuf Nurkic and draft capital to Charlotte and Nick Richards to Phoenix, confirms John Gambadoro of Arizona Sports 98.7 (Twitter links). The talks, described as “ongoing” by Gambadoro, were first reported by Evan Sidery of Forbes (Twitter link), who referred to them as “preliminary.”
Nurkic has fallen out of the rotation in Phoenix. After serving as the Suns’ starting center for most of the season, he came off the bench on Monday and Tuesday, then was a DNP-CD in Thursday’s and Saturday’s games. The veteran big man is known to be on the trade block, but his $18.13MM salary this season and a guaranteed $19.38MM salary for next season will make it difficult to move him.
Richards is a younger, more versatile center whose contract is also far more team-friendly than Nurkic’s — the Hornets’ big man is owed $5MM this season and another $5MM in 2025/26. He has averaged 9.2 points, 7.7 rebounds, and 1.3 blocks in 21.2 minutes per game through 20 games this season.
Given the disparity between the two players’ salaries, the Hornets would have to send out at least one more player (earning at least $5.63MM) to make a trade legal. The Suns would likely prefer Cody Martin ($8.12MM), a versatile wing who is having a solid bounce-back year after a couple injury-plagued seasons, while Charlotte may want to include veteran point guard Vasilije Micic ($7.72MM), the former EuroLeague MVP who has struggled with his shot since making the move to the NBA in 2023.
Both Martin and Micic have one more year of team control beyond this season, but neither player’s 2025/26 salary is guaranteed at this point. The same goes for Richards.
The Suns, who are facing second-apron restrictions, could also legally acquire Grant Williams ($13.03MM) or Josh Green ($12.65MM) along with Richards in exchange for Nurkic, though Williams is out for the season following knee surgery. Both he and Green have two more guaranteed years on their contracts after this season.
Phoenix currently has three tradable second-round picks: Denver’s 2026 and 2031 picks and the Suns’ own 2031 second-rounder. Even if the Suns were willing to include all three of those picks, it’s unclear whether the Hornets would have the appetite to take on Nurkic, whose sizable guaranteed salary would significantly reduce their flexibility in ’25/26 — especially if Charlotte can’t get out of a multiyear deal of its own in the process.
As we wrote earlier today in a Front Office article, the Hornets have several potential trade chips who are earning mid-level money or less, which could make them an intriguing trade partner for a team facing apron-related restrictions. The Suns wouldn’t be able to trade Nurkic for a player earning more than his $18.13MM salary, but could potentially acquire multiple rotation-caliber players from Charlotte if they’re able to sufficiently sweeten the pot with draft assets.
Cap Observations: Bucks/Apron, Hornets’ Trade Chips, Nets’ Cap Room
It hasn't exactly been a quiet start to 2025 on the NBA rumor mill, as Jimmy Butler's trade request has led to plenty of speculation about where the Heat star could land and how a potential deal could impact the rest of the market. But it may still be a couple more weeks before the in-season trade market truly heats up ahead of the February 6 deadline.
In the meantime, we're taking a closer look at a handful of cap-related topics that have been on our minds, including a scenario in which the Bucks aren't subject to second-apron restrictions, an under-the-radar team to watch as a deadline seller, and why cap room projections for the Nets are a little all over the place.
Let's dive in...
Nuggets’ Aaron Gordon To Return On Sunday
Nuggets forward Aaron Gordon is expected to make his return to action on Sunday in Dallas, reports NBA insider Chris Haynes (Twitter video link).
Gordon has been sidelined since Christmas Day, having missed Denver’ past nine games due to a right calf strain. The injury was an aggravation of a strain he suffered in the same calf earlier in the season — that ailment cost him 10 games in November.
As we noted earlier today, Gordon was upgraded to doubtful for Friday’s game vs. Brooklyn before being ruled out, then was listed as questionable for Sunday’s contest against the Mavericks.
A key part of Denver’s starting lineup, Gordon has been his usual effective self when he has been healthy this season, averaging 13.7 points, 5.8 rebounds, and 3.1 assists in 28.8 minutes per game across 17 outings (16 starts). He has also made 52.3% of his shots from the field, including 44.0% of his three-pointers.
The Nuggets have a +8.0 net rating during Gordon’s 489 minutes so far this season; that marks dips to +2.4 when he’s not on the floor.
Russell Westbrook has replaced Gordon in the starting lineup over the past nine games. It’s unclear if Gordon will immediately reclaim his spot — following his 10-game absence in November, he came off the bench in his return before starting his second game back.
Heat Notes: Butler, Herro, Jovic, Highsmith
When the Heat announced that they’d suspended Jimmy Butler for seven games, they explained the decision by stating that the veteran forward had engaged in “multiple instances of conduct detrimental to the team.” However, Ira Winderman of The South Florida Sun Sentinel hears from a source close to the situation that the club at one point sought to suspend Butler for a “failure to render services.”
The difference wouldn’t have just been a matter of semantics. As Winderman outlines, a standard suspension for conduct detrimental to the team costs a player 1/145th of his full-season salary per game. In Butler’s case, that works out to $2,355,798 over seven games. However, when a player is suspended for a failure to render services, it costs him 1/91.6th of his salary per game — that would’ve resulted in $3,729,157 in lost salary for the 35-year-old.
Based on Winderman’s reporting, it’s unclear whether the Heat reconsidered taking that route or were prevented from doing so — it presumably would’ve required the club to prove that Butler, who had been playing in games leading up to the suspension, had refused to render the services required by his contract.
Hours after the Heat initially announced the seven-game ban, the National Basketball Players Association put out a statement indicating it intended to file a grievance. It’s safe to assume the NBPA’s objections to the suspension would’ve been even more vociferous if the team had accused Butler of a failure to render services and attempted to recoup more of his salary.
Here’s more on the Heat:
- After suffering demoralizing losses to Utah and Sacramento in the first two games of Butler’s suspension, the Heat have righted the ship, beating Portland on Saturday for their third straight victory. As Barry Jackson of The Miami Herald points out, two players who were believed to be part of Miami’s 2023 trade offer for then-Blazers guard Damian Lillard led the way in the victory, as Tyler Herro scored a game-high 32 points and Nikola Jovic contributed a personal season-high of 21 points to go along with eight rebounds and five assists. “I like his improvement,” head coach Erik Spoelstra said of Jovic. “He’s playing with more consistency. He’s preparing with more consistency.”
- Jackson notes within the same Herald story that starting Haywood Highsmith at power forward has been a winning formula for Miami this season — the club is 17-11 when he starts and just 3-6 when he doesn’t. “He was great tonight,” Spoelstra said after Satuday’s win. “He gives us, when he’s at his best, point of attack defense, harassing other teams’ better guards and wing players. It’s a thankless job except in our locker room.” Highsmith re-signed with the Heat as an unrestricted free agent during the 2024 offseason on a two-year, $10.8MM deal.
- Road wins in Golden State, Utah, and Portland this week show that the Heat aren’t unraveling without Butler, Jackson writes in a separate article for The Miami Herald. Highsmith told reporters that “the vibes are great,” while Herro said the club has rediscovered its identity. “Just rallying around each other, making it about the guys that are here now, the guys that are in this locker room,” Herro said. “We’ve got enough, and that’s all that matters. This is what we wanted to get back on the road, get away from all the chaos and come out here and compete and get back to who we are and get to our identity.”
- The Lakers‘ and Clippers‘ home games on Saturday were postponed due to the wildfires in the Los Angeles area, but the Heat flew to L.A. on Saturday and are expecting for now to play the Clippers on Monday and Lakers on Wednesday, says Jackson.
Nuggets Notes: Jokic, Westbrook, Gordon, MPJ, Fernandez
Nuggets center Nikola Jokic and point guard Russell Westbrook recorded triple-doubles in the same game on Friday for the second time this season, leading the team to a victory over the shorthanded Nets.
As Bennett Durando of The Denver Post writes, the duo made NBA history by become the first pair of teammates to have 25-point triple-doubles in the same regular season game. Jokic put up 35 points, 15 assists, and 12 rebounds, while Westbrook contributed 25 points, 11 rebounds, and 10 assists.
“(Jokic) does a hell of a job making the game easy for everyone,” Westbrook said. “And since I’ve been here, I’ve been trying to do the same thing and find ways to be able to make the game easy for him and other guys. When we’re both doing that, our team is really good.”
Denver is 10-5 this season when Jokic registers a triple-double and 3-0 when Westbrook does so.
Here’s more on the Nuggets:
- Westbrook has been an ideal fit so far in Denver, according to Tony Jones of The Athletic, who suggests that both the point guard and the team are benefiting from the arrangement — the Nuggets got a veteran leader who can take some pressure off of Jokic with his ball-handling and play-making, while Westbrook got a chance to play more like himself under a coach who believes in him. “I told him that I wanted him to challenge himself to be the best version of himself,” head coach Michael Malone said. “No offense to any of his past coaches, but if you put Russell Westbrook in the corner, you’re not getting the whole package. We’ve made an effort to get the ball into his hands quite a bit this season.”
- Nuggets forward Aaron Gordon appears to be on the verge of returning from the calf strain he aggravated on Christmas Day. After being upgraded to doubtful for Friday’s game, Gordon has been listed as questionable to suit up on Sunday afternoon in Dallas.
- Nuggets forward Michael Porter Jr. is having arguably the best season of his career, with averages of 19.0 points, 6.6 rebounds and 2.5 assists per game on .521/.415/.708 shooting through 37 contests (34.5 MPG). With that in mind, Durando explores in a Denver Post story (subscription required) whether trading Porter would help or hurt the club’s roster. The 26-year-old, who is earning $35.9MM this season, is considered Denver’s most logical trade chip if the team makes a bigger in-season deal, since the other Nuggets with eight-figure cap hits – Jokic, Jamal Murray, and Gordon – aren’t going anywhere.
- Friday’s game between the Nets and Nuggets was the first time that former Nuggets assistant Jordi Fernandez returned to Denver to face his old team as a head coach. As Durando details for The Denver Post, Fernandez said that every year he spent with the Nuggets helped prepare him for his current position with Brooklyn, and his former players are happy to see him succeeding in his new role. “I think he’s doing a good job. I think guys are listening. Guys are playing hard for him,” Jokic said. “I think that’s really important for a coach. … They are trying to do the right thing. They are trying to do what he is probably telling them. So they have some kind of system, and it’s really cool to see. They’re in the beginning of the process, of course. Hopefully, they can grow.”
Jazz Notes: Juzang, Williams, Harkless, Markkanen
The Jazz‘s matchup with the Heat on Thursday gave them a first-hand look at the sort of player they envision as a model for third-year wing Johnny Juzang, writes Kevin Reynolds of The Salt Lake Tribune.
Head coach Will Hardy referred to Heat forward Duncan Robinson as the “poster boy” for the type of unheralded prospect who earns a spot in the NBA with his reliable three-point shooting and length on defense. Like Robinson, Juzang went undrafted out of college, and Hardy said this week that he spoke to the former UCLA standout when he arrived in Utah about how he could stick in the NBA.
“We had a pretty honest conversation about what I felt like he needed to do to make it,” Hardy said. “He was sort of an all-around scorer in college, had the ball a lot. Johnny has two really great gifts. He can really shoot and he is in really good shape. We felt like him becoming a real threat from the three-point line, and making that the centerpiece, would allow him to stick.”
Juzang played sparingly while on a two-way contract during his first two seasons with the Jazz, appearing in just 38 total contests. But he showed enough to earn a multiyear deal this past offseason that includes a guaranteed $3.1MM salary in 2024/25.
The remaining three seasons on the 23-year-old’s contract are non-guaranteed, so he’ll have to continuing proving to Utah’s front office that he deserves his roster spot. He’s off to a promising start this season, having averaged 7.3 points per game with a .400 3PT% through 32 appearances (17.8 MPG), including 9.2 PPG with a .446 3PT% since the start of December.
Here’s more on the Jazz:
- Juzang missed Saturday’s game in Phoenix due to a fracture in his right hand, but the club doesn’t believe that injury will require a lengthy absence. As Andy Larsen of The Salt Lake Tribune relays (via Twitter), the Jazz stated that once the inflammation subsides, they “anticipate he will be able to play with the fracture as pain tolerates.”
- Saturday’s 13-point performance against Phoenix was a promising sign for rookie Cody Williams, who has badly struggled offensively in the first half of the season, Larsen writes for The Tribune (subscription required). Williams’ ball-handling and footwork still need work, but he has shown good touch near the basket out to about 15 feet, Larsen observes. His 13 points on Saturday represented a career high and he was a plus-7 across 22 minutes in a game Utah lost by eight points.
- Elijah Harkless, who signed a two-way contract with Utah at the start of January, made his NBA debut on Saturday vs. the Suns, Larsen notes in the same story. While Harkless has been shooting the ball well this season in the G League, making 40.8% of his three-pointers, he’s best known for his defense. Asked last week by Larsen to introduce his game to Jazz fans, Harkless replied, “I’m competitive. Best on-ball defender on the planet.” He went scoreless with four rebounds in nine minutes on Saturday.
- In case you missed it in our Community Shootaround discussion on Saturday, Jazz forward Lauri Markkanen was among the players labeled by scouts and executives who spoke to Tim Bontemps and Brian Windhorst of ESPN (Insider link) as one of the season’s disappointments so far. “He’s probably not super motivated because the team is tanking,” one executive said of Markkanen, who signed a long-term extension with Utah in August. “But his numbers and his overall level is down across the board.”
Checking In On Open NBA Roster Spots
With the NBA’s league-wide salary guarantee date for 2024/25 behind us, it’s worth checking in once again on which teams have open spots on their 18-man rosters.
As our roster count tracker shows, these are the teams that don’t currently have full rosters consisting of 15 players on standard rest-of-season contracts and three on two-way deals:
Teams with standard roster openings:
- Boston Celtics
- Cleveland Cavaliers
- Detroit Pistons
- Golden State Warriors
- Houston Rockets
- Miami Heat
- Minnesota Timberwolves
- New Orleans Pelicans
- New York Knicks
- Oklahoma City Thunder *
- Philadelphia 76ers
- Phoenix Suns
- Sacramento Kings
- Toronto Raptors *
The Thunder and Raptors, marked with asterisks, technically have full 15-man standard rosters at the moment, but they’re each only carrying 14 players on full-season contracts, with one player on a 10-day deal. Those 10-day deals will expire later this month, at which time both Oklahoma City and Toronto will once again have an open roster spot.
Most teams in this group likely won’t sign a player to a rest-of-season or multiyear contract until sometime after the trade deadline, when they know they won’t need to use that 15th roster spot to accommodate a trade in which they acquire more players than they send out.
In between now and the trade deadline, some of these clubs could join OKC and Toronto in signing free agents to 10-day contracts. However, nine of these 14 teams project to be taxpayers, so those nine teams likely won’t be eager to bring in a 15th man unless he’s actually going to play.
Besides the Thunder and Raptors, the other clubs not projected to be taxpayers are the Pistons, Rockets, and Kings, though Detroit is operating with cap space and may try to avoid cutting into that room by signing a 15th man between now and the deadline.
Teams with two-way openings:
- Golden State Warriors
- Orlando Magic
- Philadelphia 76ers
The deadline to sign a player to a two-way contract won’t arrive until March 4, so there’s no urgency for these clubs to fill their openings right away.
Golden State’s and Orlando’s actions don’t suggest we should count on them to make two-way signings soon — the Warriors‘ third two-way slot has been open since they traded Reece Beekman to Brooklyn on December 15, while the Magic have left one of their two-way slots open all season.
Still, the prorated portion of a two-way salary is such a minor financial commitment for an NBA franchise that we may see one or more of these teams bring in a new two-way player sooner rather than later, even if they’re not certain he’ll hold that spot for the rest of the season.
Community Shootaround: First Half’s Pleasant Surprises, Disappointments
The fact that Bulls point guard Lonzo Ball has been able to play in 19 games so far this season is an achievement in itself, given that he missed the previous two-and-a-half years while dealing with ongoing knee problems. As Brian Windhorst and Tim Bontemps write for ESPN.com (Insider link), what’s even more impressive is how impactful Ball has been during his time on the court.
Although his numbers, including 5.8 points per game on .359/.318/.750, don’t look especially strong, Ball is once again making the sorts of winning plays that don’t show up in the box score. Chicago has a +6.9 net rating when he’s on the court, compared to a -5.0 mark when he’s not.
“Someone is going to get him next year and look smart,” one executive said to ESPN of Ball, who is on an expiring contract.
Ball is among several players identified by Windhorst and Bontemps as the pleasant surprises of the first half of the 2024/25 NBA season. Here are a few more of the names on that list:
- Karl-Anthony Towns, Knicks: “He’s been everything the Knicks were hoping for and more, and his absence has left a larger hole than the Wolves would’ve ever thought,” a scout told ESPN.
- Cade Cunningham, Pistons: “When the Pistons gave him the max, there were quite a few people who thought it was a risk, and he’s been very strong,” a general manager said.
- Victor Wembanyama, Spurs: “What he’s doing is just ridiculous,” an executive said. “Say whatever you want about him meeting expectations; if he gets that roster to the playoffs, he should get MVP votes. And he might.”
- Norman Powell, Clippers: “He’s gotten more minutes and shots, but no one would’ve believed he’d take this leap at this stage of his career,” an exec said to ESPN.
James Harden (Clippers), Dyson Daniels (Hawks), and Cameron Johnson (Nets) are among the others mentioned by ESPN’s duo.
On the opposite end of the spectrum, Jazz forward Lauri Markkanen, Heat teammates Terry Rozier and Jaime Jaquez, and Sixers center Joel Embiid are among the season’s biggest disappointments, as identified by Windhorst, Bontemps, and the sources they spoke to. Here are a few more of the players in that group:
- Paul George, Sixers: “Philly probably knew there was a chance they’d have a rough PG year on this contract but they probably thought it would be year four — not year one,” an executive said.
- Kyle Kuzma, Wizards: “I know he’s dealt with an injury,” one scout told ESPN, “but I think this has been the most disappointing season of his career.”
- Scoot Henderson, Trail Blazers: “I thought it was a guarantee he’d play much better this year than last and show some things,” an exec said. “I’ve been wrong. His numbers are down, and the eye (test) confirms it.”
We want to know what you think.
Which NBA players have you been most pleasantly surprised or disappointed by so far this season? Are there any names on ESPN’s lists – or scouts’ and executives’ comments – that you strongly agree or disagree with?
Head to the comment section below to weigh in with your thoughts!
Eastern Notes: Embiid, Butler, LaVine, Valanciunas
Sixers center Joel Embiid missed a third consecutive game on Friday due to a sprained left foot, but head coach Nick Nurse said the team doesn’t believe the issue will be a long-term concern, suggesting the big man could be back in action as early as Sunday, per Dan Gelston of The Associated Press.
Still, Embiid’s availability has been spotty all season. He has played in more than two consecutive games just twice, appearing in 13 total contests out of Philadelphia’s 36. The 76ers are 7-2 in the last nine games Embiid has played, but his frequent appearances on the injury report – along with a handful of other health issues affecting players up an down the roster – have hindered the club’s ability to build chemistry and momentum.
“It’s difficult with guys in and out of the lineup,” point guard Tyrese Maxey said, according to Gelston. “As soon as we get some continuity, as soon as we get flowing, guys miss (games). It’s really difficult. Guys have to kind of change their roles every single night. That puts pressure on us, man. We miss Jo, we miss Paul (George), we miss KJ (Martin). It’s hard to win in this league when you’re not healthy.”
The Sixers’ loss on Friday to a 7-31 New Orleans team missing Zion Williamson was one of their most discouraging defeats of the season. Philadelphia is now 15-21 and is two games back of the Bulls for the No. 10 spot in the Eastern Conference standings.
Here’s more from around the East:
- After former Heat star Tim Hardaway Sr. said during an appearance on SiriusXM NBA Radio (Twitter video link) that Miami gave the NBPA a 10-page document and film to back up their assertion that Jimmy Butler engaged in conduct detrimental to the team, Barry Jackson of The Miami Herald tweets that he can’t confirm that specific claim. However, Jackson does say that the team was careful in documenting the incidents that led to the seven-game suspension, which is reportedly being challenged by the players’ union.
- Bulls guard Zach LaVine is having one of the best seasons of his career and has been even better since the calendar flipped to January, averaging 32.8 points per game on .598/.424/.786 shooting in his first five games of 2025. It hasn’t led to any movement on the trade front though, according to Joe Cowley of The Chicago Sun-Times, who checks in on where things stand with LaVine and notes that it will probably be hard for Chicago to trade the two-time All-Star until there’s more clarity on what’s happening with Butler.
- Speaking to Donatas Urbonas of BasketNews.com, veteran center Jonas Valanciunas admitted it has been a “very tough” season in Washington, where the Wizards have an NBA-worst 6-30 record. “I want to win,” he said. “But the situation is what it is, and while I’m in it, I have to do everything I can to improve it. … Winning teams don’t become like that overnight.” Although he’s in the first season of a three-year contract, Valanciunas is considered a candidate to be dealt out of D.C. ahead of the February 6 trade deadline. He told Urbonas that he’s only focused on what he can control on the court. “The agents’, general managers’, and team presidents’ jobs are off the court,” the big man said. “I leave everything to them.”