Pelicans Trade Jose Alvarado To Knicks
9:02 pm: The trade is official, according to the Knicks (Twitter link). New York also acquired the draft rights to Latavious Williams, a 36-year-old forward who is currently playing in Saudi Arabia, tweets Steve Popper of Newsday.
11:33 am: New York native Jose Alvarado is heading home, according to Shams Charania of ESPN, who reports (via Twitter) that the Pelicans have agreed to a deal that will send the fifth-year guard to the Knicks.
According to Ian Begley of SNY.tv (Twitter link), New York will send a pair of second-round picks along with Dalen Terry to New Orleans in exchange for Alvarado. The Pelicans will also receive cash, per Charania (Twitter link).
The two second-rounders headed to New Orleans are 2026 and 2027 selections, adds James L. Edwards of The Athletic (Twitter link). Jake Fischer of The Stein Line (Twitter link) has the full details on those selections — the 2026 pick figures to be Detroit’s second-rounder, while the 2027 pick will be the second-most favorable of four teams’ picks.
Alvarado had been connected to the Knicks in rumors for much of the season leading up to the trade deadline. New York was in the market for backcourt help and the 27-year-old was viewed as a logical fit due in part to his affordable $4.5MM cap hit, which the Knicks could accommodate by sending out Guerschon Yabusele ($5.5MM).
The Pelicans reportedly weren’t interested in taking back Yabusele, whose contract includes a 2026/27 player option, so the Knicks found another taker, making a deal with Chicago for Terry, and will flip the newly acquired forward to New Orleans in this deal — it’s also possible the two moves will be officially completed as a single transaction.
Considered a tenacious defender who brings energy off the bench, Alvarado has averaged 7.9 points, 3.1 assists, and 2.8 rebounds in 21.9 minutes per game across 41 appearances for the Pelicans this season. His shooting line is .418/.363/.833.
Alvarado’s contract features a $4.5MM player option for next season. If he opts out of his deal, the Knicks would have the ability to re-sign him using his Bird rights, but they may prefer for him to opt in and negotiate an extension that begins the following season, since it would help keep the team’s payroll in check for 2026/27.
The Knicks’ need for backcourt depth was heightened on Thursday as the team got word that Miles McBride will require core muscle surgery that could sideline him until the postseason, so Alvarado is well positioned to take on a significant role upon joining his new team.
New York will now have enough breathing room below its second-apron hard cap to sign a 15th man to a minimum-salary contract rather than having to wait until late in the season to do so.
As for the Pelicans, while they were widely viewed as one of the biggest potential sellers at this year’s deadline, they’ve been quiet to this point, having reportedly told teams they wouldn’t be moving prime trade chips like Zion Williamson, Trey Murphy III, and Herbert Jones. While potential suitors believed that stance might change if the offers were strong enough, New Orleans hasn’t been convinced to move anyone besides Alvarado so far.
Clippers Trade Ivica Zubac To Pacers
8:26 pm: The deal is official, the Clippers confirmed in a press release.
1:13 pm: The Pacers have their new starting center, according to ESPN’s Shams Charania, who reports (via Twitter) that Indiana has reached an agreement to acquire Ivica Zubac from the Clippers.
The full trade, according to reports from Charania (Twitter links), Jake Fischer of The Stein Line (all Twitter links), and Brett Siegel of ClutchPoints (Twitter links), is as follows:
- Pacers to acquire Zubac and Kobe Brown.
- Clippers to acquire Bennedict Mathurin, Isaiah Jackson, the Pacers’ 2026 first-round pick (top-four protected and 10-30 protected), the Pacers’ 2029 first-round pick (unprotected), and the Mavericks’ 2028 second-round pick.
If that 2026 Pacers pick doesn’t land between No. 5 and No. 9, the Clippers will instead get Indiana’s unprotected 2031 first-rounder, according to Fischer.
Ever since losing Myles Turner to the division-rival Bucks in free agency last summer, the Pacers have been in the market for a new starting center, having attempted to temporarily address the position this season with a combination of Jackson, Jay Huff, Micah Potter, Tony Bradley, and James Wiseman.
Indiana was linked to several starting-caliber centers on the trade market, with a focus on players with modest or mid-sized contracts, such as Daniel Gafford, Nic Claxton, Walker Kessler, and Yves Missi. According to NBA insider Chris Haynes (Twitter link), the Pacers made a recent push to acquire Kessler, offering a package that included two unprotected first-round picks, but were rebuffed by the Jazz.
Zubac was the one name continually being linked to the Pacers for much of the season, but it was unclear if the Clippers intended to entertain offers for him after fighting their way back into the postseason picture with a 16-3 stretch. In the wake of the Clippers’ deal sending James Harden to Cleveland earlier this week, Zubac rumors once again began percolating as it became clearer that the organization had an eye toward its future, and Indiana pivoted its attention to the 28-year-old big man.
Zubac is coming off a career year in which he averaged 16.8 points and 12.6 rebounds per game, finished as the Most Improved Player runner-up, made the All-Defensive second team, and placed sixth in Defensive Player of the Year voting.
While he may not receive the same kind of award consideration this season as a member of sub-.500 teams, Zubac has once again been a valuable anchor at the five, averaging 14.4 PPG and 11.0 RPG on 61.3% shooting through 43 games. He also has a team-friendly contract that includes an $18.1MM salary this season, with guaranteed salaries of $19.6MM and $21MM to follow.
Those cap hits will increase slightly as a result of the 5% trade kicker included in Zubac’s contract, adding nearly $800K per year, notes Yossi Gozlan of The Third Apron (Twitter link). Still, his contract should provide strong value to the Pacers over the next two-and-a-half seasons as the team looks to return to contention after a disappointing 2025/26 showing.
Speaking of the Pacers’ ’25/26 performance, they currently have the third-worst record in the NBA at 13-38. They’re narrowly ahead of the Pelicans and Kings in the standings and just one game back of the Nets and Wizards, so their place in the lottery standings could change between now and the end of the season, but right now, there’s a 52.1% chance they’ll land a top-four pick and a 47.9% chance they’ll be between No. 5 and No. 7, per Tankathon.
In other words, the Clippers will have roughly a 50/50 chance – or slightly better, depending where the Pacers finish – of securing a lottery pick in the 5-9 range of what is considered a very strong draft.
That pick could be the crown jewel of the Clippers’ return for Zubac, but even if it ends up in the top four and Indiana keeps it, L.A. will be on track to receive two unprotected Pacers first-rounders down the road and is adding two young players to its roster in Mathurin (23 years old) and Jackson (24 years old).
Mathurin, the sixth overall pick in 2022, has battled thumb and toe issues this season that have limited him to 28 games, but he’s still averaging career highs in points (17.8), rebounds (5.4), and assists (2.3) per contest while shooting 37.2% from beyond the three-point line. The Canadian guard will be eligible for restricted free agency this summer.
Jackson, meanwhile, has started 14 of his 38 games for the Pacers this season, coming off an Achilles tear that limited him to five outings in 2024/25. He has averaged 6.4 PPG and 5.6 RPG in 16.8 MPG.
The fifth-year center has a $7MM salary for next season and a $6.4MM salary for ’27/28. There’s some injury protection language in his deal, notes ESPN’s Bobby Marks (Twitter link), but unless he injures his Achilles again, those salaries will remain guaranteed.
Bulls Trade Ayo Dosunmu To Timberwolves
The Bulls have officially traded guard Ayo Dosunmu to the Timberwolves, the Wolves and Bulls have confirmed in a pair of press releases.
Third-year forward Julian Phillips heads to Minnesota in the deal along with Dosunmu, with the Bulls acquiring 2024 first-round pick Rob Dillingham, third-year forward Leonard Miller, and four second-round picks.
Jon Krawczynski of The Athletic (Twitter link) first reported that the two teams were finalizing a deal involving Dosunmu, while ESPN’s Shams Charania (Twitter links) confirmed that an agreement was in place and provided the full details.
According to Michael Scotto of HoopsHype (Twitter link), the four second-rounders are as follows:
- Either the Nuggets’ or Warriors’ 2026 pick (whichever is least favorable).
- The Cavaliers’ 2027 pick.
- Either the Timberwolves’ or Warriors’ 2031 pick (whichever is most favorable).
- Either the Suns’ or Rockets’ 2032 pick (whichever is most favorable).
The Timberwolves have been on the lookout for a way to upgrade their backcourt for much of the season. Veteran Mike Conley, the starting point guard for most of last season, saw his production fall off significantly, while youngsters like Dillingham and Terrence Shannon Jr. didn’t take the sort of steps forward the team hoped they would. That resulted in Anthony Edwards and Donte DiVincenzo taking on more ball-handling responsibilities.
Although Dosunmu isn’t a true point guard, he’ll give Minnesota another player capable of handling the ball, initiating the offense, and making outside shots. The Chicago native is in the midst of a career year, with averages of 15.0 points, 3.6 assists, and 3.0 rebounds in 26.4 minutes per game and an excellent shooting line of .514/.451/.857 through 45 outings (10 starts).
It’s a disappointing end to Dillingham’s tenure with the Wolves — the club gave up an unprotected 2031 first-round pick and a 2030 pick swap in order to draft him eighth overall in 2024, but he didn’t develop into a reliable rotation player, averaging just 4.0 PPG and 1.9 APG on .398/.346/.657 shooting in 84 regular season appearances (10.0 MPG).
While Dillingham may benefit from a change of scenery, Dosunmu could become a fixture in Minnesota’s backcourt if the team can find a way to lock him up beyond this season. The 26-year-old is on an expiring $7.5MM contract and is eligible until June 30 for an extension worth up to about $52.4MM over three years. If he and the Wolves don’t reach an agreement by then, he’ll reach unrestricted free agency, with Minnesota holding his Bird rights.
It’s worth noting that this move shouldn’t take the Wolves out of the running for Giannis Antetokounmpo, their top trade target, but there’s widespread skepticism that the Bucks star will be moved before the deadline.
As for the Bulls, besides taking a shot on Dillingham, they continue to add to their collection of future draft assets. They’ve now completed or agreed to six separate trades this week and have acquired nine second-rounders in those deals, increasing their total count to 14, tweets ESPN’s Bobby Marks.
Although Dosunmu and Coby White are headed to new NBA homes, Chicago still has a backcourt logjam. Josh Giddey and Tre Jones remain on the roster, with newcomers Jaden Ivey, Collin Sexton, Anfernee Simons, and now Dillingham joining the mix. Still, an unbalanced roster may not be an issue for the Bulls in the short term, given that they appear to be focused on building for the future rather than maximizing their playoff chances this season.
According to K.C. Johnson of the Chicago Sports Network (Twitter link), the Bulls expressed interest in rookie big man Joan Beringer during their conversations with the Wolves, but Minnesota is high on the 19-year-old Frenchman and was unwilling to include him in its offer for Dosunmu.
Chicago will cut into its projected 2026 cap room a little as a result of this deal. While Miller has a $2.4MM team option for 2026/27, Dillingham’s $6.9MM salary is fully guaranteed. The Bulls will have until October 31 to decide whether or not to exercise Dillingham’s $8.8MM team option for the ’27/28 season.
Lakers Trade Vincent, Second-Round Pick To Hawks For Kennard
8:03 pm: The trade is official, the Lakers and Hawks confirmed.
9:40 am: The Lakers and Hawks have agreed to a trade, according to Shams Charania of ESPN (Twitter link), who hears from sources that Atlanta is acquiring guard Gabe Vincent and the Lakers’ 2032 second-round pick from Los Angeles in exchange for sharpshooter Luke Kennard.
Dan Woike of The Athletic first reported (Twitter link) that the Lakers were closing in on a deal sending Vincent to the Hawks.
Finding another shooter was among the Lakers’ priorities heading into the deadline, and they’re able to fill that role with Kennard, who’s connecting at 49.7% from beyond the arc in 46 games this season. Kennard, 29, is also a Duke alum, just like head coach JJ Reddick.
Vincent, 29, wasn’t able to provide the value the Lakers were hoping when they signed him as a free agent in the summer of 2023. Injuries played a role as he was limited to 11 games in his first season in L.A. and has appeared in just 29 this year. He’ll get a fresh start in Atlanta before becoming an unrestricted free agent this summer.
The two players have similar expiring contracts with Kennard at $11MM and Vincent at $11.5MM, so the trade won’t carry any major financial implications, either this season or beyond.
The Lakers parted with their last available second-round pick in the trade, notes Yossi Gozlan of The Third Apron (Twitter link). However, he points out that the $500K they save in the exchange could be useful on the buyout market, since they didn’t have a ton of breathing room below their first-apron hard cap.
The Hawks will create an $11MM traded player exception in the deal, Charania adds (Twitter link). That means they figure to absorb Vincent’s contract into the TPE from last year’s Bogdan Bogdanovic trade — that $13.1MM exception would have expired on Friday, so Atlanta is essentially rolling it over for another year.
The Hawks also agreed to a deal on Wednesday to acquire Buddy Hield from Golden State, and Jake Fischer of The Stein Line hears that they plan to keep both Hield and Vincent on their roster (Twitter link).
Mavericks Send Anthony Davis To Wizards In Three-Team Deal
February 5: The trade has been finalized, the Mavericks and Wizards announced. It was officially completed as a three-team deal, with the Hornets receiving Malaki Branham and the Mavs receiving Tyus Jones. Charlotte confirmed its part of the trade in a press release.
“Anthony Davis is one of the most accomplished players of his generation, and we are thrilled to have him in Washington,” said Wizards general manager Will Dawkins. “Anthony’s championship experience and defensive pedigree bring a new level of opportunity and excitement to this franchise.”
February 4: The Mavericks are trading big man Anthony Davis to the Wizards, according to ESPN’s Shams Charania, who reports (via Twitter) that Jaden Hardy, D’Angelo Russell, and Dante Exum will also head to Washington in the deal.
In return, the Mavericks will receive Khris Middleton, AJ Johnson, Malaki Branham, Marvin Bagley III, two first-round picks, and three second-rounders, sources tell Charania.
Those first-rounders will be a “least favorable” 2026 pick that will almost certainly be the Thunder’s, plus the Warriors’ top-20 protected 2030 pick, per Charania. The second-rounders are Phoenix’s 2026 pick, Chicago’s 2027 pick, and Houston’s 2029 selection.
Davis had been on the trade block in Dallas for much of the season, but there was some doubt about whether a deal would materialize after he suffered a hand injury expected to sideline him for at least most of February, if not beyond that. Rumored suitors like Atlanta and Toronto appeared to back off to some extent, opening the door for a surprise team like the Wizards to make a deal.
While Washington is an unlikely landing spot for a veteran star like Davis, the 13-36 Wizards are clearly pivoting toward being competitive next season, having acquired four-time All-Star Trae Young from Atlanta last month and now pairing him with a 10-time All-Star in Davis.
According to Jake Fischer of The Stein Line, the Wizards would ideally like to use second-year big man Alex Sarr as a “super-sized” and “switchable” power forward and had been seeking another impact frontcourt player to use alongside him. Washington explored a possible deal for Kings center Domantas Sabonis and had considered making a run at Jazz center Walker Kessler in restricted free agency before pulling the trigger on a trade for Davis, Fischer says.
As they did with Young, the Wizards are buying low on Davis amid an injury-plagued season in which he has dealt with several separate health issues and has been limited to 20 appearances. Although the draft-pick haul they’re giving up for AD looks substantial at first glance, the 2026 first-rounder will likely end up at No. 30, while the 2030 selection will turn into a ’30 second-rounder if it lands in the top 20.
Like Young, who has yet to make his Wizards debut as he rests a knee injury, Davis appears unlikely to play much – if at all – during the second half of this season. Washington will owe its 2026 first-round pick to New York if it lands outside the top eight, so the club will likely do all it can to avoid that scenario. Resting its veteran stars should help that cause.
Despite the modest value of the first-round picks changing hands, the Wizards’ package likely appealed to Dallas due to the financial flexibility it will afford the team going forward. Besides moving off Davis’ maximum-salary contract, which will pay him $58.5MM in 2026/27, with a $62.8MM player option for ’27/28, the Mavs will remove Hardy’s $6MM guaranteed salary and Russell’s $6MM player option for ’26/27 from their books.
Besides giving the Mavericks more cap flexibility going forward, the deal will also generate considerable short-term savings, with the Wizards taking advantage of their significant breathing room below the luxury tax line to take on more than $24MM in 2025/26 salary. Dallas had been operating right up against the second tax apron but will move all the way out of apron and tax territory with this move, resulting in $57MM in savings, tweets cap expert Yossi Gozlan.
Most importantly, the trade lines up the Mavs to begin building around star rookie Cooper Flagg. Dallas will have a pair of first-round picks in a strong 2026 draft, including their own selection which is on track to be a lottery pick. And the team has a much cleaner cap sheet to work with moving forward, even with long-term deals for role players like P.J. Washington and Daniel Gafford still on the books.
Still, the return for Davis stands in stark contrast to what they gave up to get him just one year ago. Under former head of basketball operations Nico Harrison, the 32-year-old was the centerpiece of the package the Mavs received for franchise player Luka Doncic. Since making that deal, the franchise has parted ways with Harrison and now done the same with Davis, conceding that it made a major mistake at the 2025 deadline.
Warriors Deal Kuminga, Hield To Hawks For Porzingis
February 5: The trade is official, the Warriors announced (via Twitter) The Hawks confirmed the deal as well in a press release.
February 4: The Warriors will trade Jonathan Kuminga and Buddy Hield to the Hawks in exchange for Kristaps Porzingis, sources tell ESPN’s Shams Charania (Twitter link). It’s a straight player exchange with no draft picks involved, according to Jake Fischer of The Stein Line (Twitter link).
The deal ends Kuminga’s long saga with Golden State, which was highlighted by occasional moments of brilliance mixed with frustration over not being able to land a consistent starting role or regular playing time during his five seasons with the team. He was hoping for an exit during restricted free agency last summer, but he didn’t receive an offer sheet and the Warriors shut down any idea of a sign-and-trade despite interest from Sacramento and Phoenix.
Kuminga received several contract offers from Golden State during the process, but he was reluctant to agree to anything that included a team option. He relented shortly before the start of training camp and accepted a deal with a $22.5MM salary for this season and a $24.3MM team option for 2026/27 that will now be controlled by Atlanta.
That agreement also featured a trade kicker, which would be worth roughly $1.3MM at this point, notes ESPN’s Bobby Marks (Twitter link).
Over the past few weeks, several teams expressed interest in trading for Kuminga, who has only been available for 20 games this season, but the Warriors were hesitant to take back long-term money in any deal. Instead they get Porzingis, whose $30.7MM expiring contract will give them financial flexibility for the offseason.
Golden State may be interested in a longer arrangement with the 30-year-old big man, as Charania reports that they’ve viewed Porzingis as a potential target for the past two months in their search for another stretch five. Porzingis is a career 36.6% shooter from long distance and played a vital role on Boston’s championship team two years ago, though he has been limited to 17 games this season and is currently sidelined with an illness, which has been a recurring issue for the past year.
After missing an extended stretch of time down the stretch and in the playoffs last season, Porzingis was diagnosed with postural orthostatic tachycardia syndrome (POTS). He said in the fall that he was confident about managing the condition, but he has had repeated absences due to illness this season.
Hield, 33, gives Atlanta another outside shooter after sending Vit Krejci to Portland earlier this week. He’s under contract for $9.7MM next season, but only $3MM of that is guaranteed until the day after the draft.
The Hawks could decide to waive both players and have $25MM in cap space this summer, according to Yossi Gozlan of The Third Apron (Twitter link). He adds that they could also use Kuminga’s Non-Bird rights to give him a new contract worth up to $116MM over four years — they likely wouldn’t have to go that high if the plan is to re-sign the forward.
Parting with Kuminga likely signals the end of the Warriors’ pursuit of Giannis Antetokounmpo before the trade deadline. Marc Stein of The Stein Line notes (via Twitter) that he was a central part of Golden State’s offer, which likely reduces the Bucks‘ options to Miami and Minnesota if they’re determined to move him on Thursday.
Brett Siegel of ClutchPoints reports that the Warriors contacted Milwaukee several times this week with an offer for Antetokounmpo centered around Kuminga, Draymond Green, Brandin Podziemski and multiple first-round picks. After receiving a “clear indication” that the Bucks wouldn’t accept that deal, they pivoted to their pursuit of Porzingis.
Celtics, Bulls Swap Anfernee Simons, Nikola Vucevic
February 5: The trade is now official, per NBA.com’s transaction log.
February 3: The Celtics and Bulls have reached an agreement on a trade that will send guard Anfernee Simons to Chicago and center Nikola Vucevic to Boston, reports ESPN’s Shams Charania (Twitter link).
Both teams will also acquire a second-round pick in the deal, Charania adds. The Celtics will receive Denver’s 2027 second-round selection in the trade, while Chicago will get the “most favorable” of four teams’ 2026 second-rounders, tweets Keith Smith of Spotrac. That pick headed to the Bulls will likely be New Orleans’ 2026 second-rounder.
A deal along these lines had long been considered a possibility for the Celtics, whose frontcourt depth took a significant blow last offseason when they traded away Kristaps Porzingis and lost Al Horford and Luke Kornet in free agency.
Simons’ $27.7MM expiring contract was also viewed as an obvious trade chip for a team that made cost-cutting moves to get below the second apron and might be looking to further reduce its luxury tax bill — or to get out of the tax altogether.
Over the course of the season, however, Simons emerged as a key part of Boston’s rotation off the bench, averaging 14.2 points, 2.4 assists, and 2.4 rebounds in 24.5 minutes per game while knocking down 39.5% of his three-pointers and 88.9% of his free throws. And with the 31-18 Celtics vying for a top-two seed in the East, ducking the tax no longer seemed like a top priority for the team.
Still, president of basketball operations Brad Stevens ultimately determined that it made sense for Boston to sacrifice some backcourt depth for another rotation player up front while saving some money and generating some additional roster flexibility in the process.
Vucevic, 35, is a floor-stretching big man who continues to produce strong offensive numbers, including 16.9 points, 9.0 rebounds, and 3.8 assists per game this season, along with a 37.6% mark on three-pointers. He’s on an expiring $21.5MM contract, so the move will reduce the Celtics’ projected tax penalty by more than $22MM, from $39.5MM to $17MM, tweets ESPN’s Bobby Marks. The club will also move below the first tax apron as a result of the deal.
Boston has a $22.5MM traded player exception from last summer’s Porzingis deal, so Vucevic could be slotted into that TPE, allowing the team to create a new exception equivalent to Simons’ outgoing salary ($27.8MM). The Celtics would have up to one year to use that exception.
As for the Bulls’ perspective, it remains to be seen whether Simons is part of their plans going forward or if the move is more about the second-round pick they’re adding. Either way, something will have to give in Chicago’s backcourt, where Simons joins a group that also includes Josh Giddey, Coby White, Ayo Dosunmu, and Tre Jones, as well as Jaden Ivey and Mike Conley, who are joining the Bulls as part of a three-team deal involving Detroit and Minnesota.
While Conley looks like a potential buyout candidate, the Bulls’ additions of Ivey and Simons suggest that at least one (and perhaps more than one) of White, Dosunmu, or Jones will be on the move this week.
The trade sending out Vucevic represents something of the end of an era in Chicago. Arturas Karnisovas‘ first major trade as the team’s executive VP of basketball operations at the 2021 deadline saw him send out Wendell Carter Jr. and multiple future first-round picks (including one that became Franz Wagner) to land the Montenegrin center. Vucevic averaged 18.1 PPG, 10.5 RPG, and 3.4 APG on .499/.349/.815 shooting in 378 regular season games as a Bull.
Michael Scotto of HoopsHype first reported last week that the Bulls inquired earlier in the season on a swap of Vucevic for Simons and a first-round pick. While Boston wasn’t interested in that offer, the Celtics eventually moved forward on the proposed framework after Chicago lowered its draft-pick asking price.
Bucks Tell Teams They’re Keeping Giannis Antetokounmpo
The Bucks have informed interested teams that they’re hanging onto forward Giannis Antetokounmpo through Thursday’s trade deadline and will begin focusing on separate trade opportunities, reports ESPN’s Shams Charania (Twitter link).
The decision removes the top attraction from this year’s pre-deadline trade market and sets up an eventful offseason when rival teams will be able to make more tempting offers.
The Warriors, Timberwolves, Heat and Knicks were believed to be the most active suitors for Antetokounmpo, but the Bucks were signaling to teams over the past few days that they weren’t ready to part with their franchise player, according to Brett Siegel of ClutchPoints (Twitter link).
As a result, those teams began focusing on other moves, with Golden State acquiring Kristaps Porzingis, Minnesota dealing for Ayo Dosunmu and New York swapping Guerschon Yabusele for Dalen Terry.
ESPN’s Jason Collier reported earlier today that Milwaukee wasn’t feeling pressure to find a deal before the deadline, and Jake Fischer of The Stein Line got the same impression, with one rival executive telling him the Bucks “were never serious” about moving Antetokounmpo prior to this summer (Twitter link).
While holding onto Antetokounmpo could increase his eventual trade value, it also gives him more control over the process. He’s only under contract for one more season at $58.5MM and holds a $62.8MM player option for 2027/28. Being able to opt out next summer means he’ll have some leverage to quash a potential deal if he’s not being sent to a place that he wants to go.
Antetokounmpo will become eligible for a four-year, $275MM extension on October 1 if he remains in Milwaukee, notes Bobby Marks of ESPN (Twitter link). If he’s traded before then, he’ll have to wait six months from the day the deal is finalized until he can sign that maximum extension (he could get a slightly shorter, less lucrative deal within the six-month window).
Antetokounmpo is currently sidelined due to a calf strain, and with the Bucks lingering in 12th place in the East at 20-29, it may be in their best interest to have him sit out the rest of the season to maximize the value of their first-round pick and avoid the risk of injury heading into the summer. However, league sources tell Eric Nehm of The Athletic that Antetokounmpo wants to return to action once he’s fully recovered in hopes of helping the team secure a play-in spot.
Antetokounmpo has been sending out mixed signals about his desire to stay in Milwaukee since trade rumors began to heat up. He said Tuesday that he loves the city and would prefer to retire as a Buck, but he also suggested that he’s not fully convinced that the team can quickly be rebuilt into a title contender, adding that he has to look at his options.
Multiple reports have stated that the Bucks are seeking young talent and draft assets in an Antetokounmpo deal. Several teams that currently have limited draft picks available will be able to increase their offers beginning this June.
Hoops Rumors’ 2026 NBA Trade Deadline Primer
Deadline day is finally here. NBA teams will have until today at 2:00 pm Central time to finalize trade agreements. Anyone not traded by that time will be ineligible to be moved until after his team’s season comes to an end this spring.
After a slow start to trade season, we’ve already seen a ton of fireworks this week. Prior to February 1, only one trade had been completed since opening night, but since Sunday, 10 deals have been finalized and seven more have been agreed upon.
And it’s not as if we’re just getting a bunch of salary dumps. Unlikely buyers like the Jazz and Wizards have pulled off blockbuster moves, with Utah acquiring Jaren Jackson Jr. from Memphis in an eight-player, three-pick trade, while Washington agreed to acquire Anthony Davis from Dallas in a deal that will reportedly involve eight players and five draft picks.
The Cavaliers and Clippers got in on the fun by completing a swap of multi-time All-Stars – James Harden and Darius Garland – while players like Coby White, Keon Ellis, De’Andre Hunter, Jaden Ivey, Jared McCain, Kevin Huerter, and Collin Sexton have also been on the move, with Nikola Vucevic, Anfernee Simons, Kristaps Porzingis, Jonathan Kuminga, Lonzo Ball, and Chris Paul set to join them in pending deals.
[RELATED: 2025/26 In-Season NBA Trades]
Those deals took many of this season’s most noteworthy trade candidates off the board, but there are still plenty of storylines to keep an eye on as Thursday’s deadline nears, starting with whether or not the Bucks will actually move two-time Most Valuable Player Giannis Antetokounmpo.
Rival teams have been skeptical that Milwaukee will pull the trigger on a Giannis trade this week instead of waiting until the offseason, when more teams might enter the mix and current suitors could potentially improve their offers.
It sounds like at least one of the teams involved in the Antetokounmpo sweepstakes isn’t counting on a Thursday deal — when Golden State agreed to trade Kuminga to Atlanta, it marked the “unofficial end” of the team’s pursuit of the Bucks star, per ESPN’s Anthony Slater and Shams Charania.
While Sam Amick, Nick Friedell, and Fred Katz say that Warriors team sources haven’t entirely closed the door on the possibility of an Antetokounmpo trade, those same sources added that the Bucks weren’t prepared to accept a Golden State offer centered around Kuminga, Draymond Green, four first-round picks, and a pick swap. An “extended lack of communication” from Milwaukee this week has made the Warriors and other teams believe an Antetokounmpo move won’t be happening at this time, per The Athletic.
Even if Antetokounmpo stays put, we could still see plenty of last-minute action on Thursday. Grizzlies point guard Ja Morant is among the most notable trade candidates still on the market; the Nets still have a chunk of cap room available to help teams accommodate deals; the Timberwolves and Heat could pivot to alternative options if they don’t expect to land Giannis; and potential sellers like the Kings and Pelicans still have plenty of trade chips available to move.
As those Jazz and Wizards trades show, you also never know when two teams will decide to make a move that none of us saw coming.
We’ll be keeping tabs on all the latest news and rumors all day long on Hoops Rumors, leading up to 2:00 pm CT.
In the meantime, here are some of our features and trackers to help you prepare for today’s action:
- Trades completed so far during the 2025/26 season.
- Players with the ability to veto trades.
- Players with trade kickers.
- Players who are ineligible to be traded.
- Teams with traded player exceptions available.
- Hoops Rumors Glossary:
- Explaining salary aggregation.
- Explaining the Ted Stepien rule.
- Explaining tax aprons and the restrictions that apply to teams above those aprons.
- Traded 2026 first-round picks.
- Traded 2026 second-round picks.
- Cash sent and received in NBA trades in 2025/26.
- Teams with hard caps for 2025/26.
- NBA roster counts.
Note: The majority of these trackers are being updated as trades become official, so pending moves won’t be reflected yet.
Hornets Acquire Tyus Jones From Magic, Waive Pat Connaughton
11:27 pm: The trade is official, the Hornets announced (via Twitter). Veteran swingman Pat Connaughton, who has only appeared in 22 games this season, has been waived to make room on the roster for Jones (Twitter link). Connaughton will receive the balance of his $9.4MM salary.
9:07 pm: The Magic have agreed to send Tyus Jones to the Hornets for cash considerations, sources tell ESPN’s Shams Charania (Twitter link).
Charlotte will get a pair of second-round picks for taking on Jones’ $7MM contract, Charania adds. Those second-rounders will be the least favorable between Boston and Orlando in 2027 along with the Magic’s selection in 2028, according to Bobby Marks of ESPN (Twitter link). The Hornets now own 11 first-rounders and 14 second-rounders over the next seven years.
The move allows Orlando to dip roughly $1.4MM below the luxury tax line. The Magic will be down to 13 players with standard contracts once the deal is finalized and will have two weeks to get back to the league minimum of 14.
The Hornets currently have a full roster, so another move will have to be made before this trade can be completed. Mike Conley, who’s being acquired from Chicago in a separate deal, is viewed as a buyout candidate, so Charlotte could open a roster spot by finalizing that trade first and waiving Conley.
The Hornets can absorb Jones’ salary with the remainder of their mid-level exception or with a trade exception they’ll create in the deal with the Bulls, notes Yossi Gozlan of The Third Apron (Twitter link). Gozlan suggests that Jones could also be bought out, which would make him eligible to sign with any team other than Orlando.
Jones, 29, signed a one-year deal with the Magic in July. He was expected to provide depth at point guard, but his inconsistent shooting (34.2% from the field and 29.4% from three-point range) has limited his playing time. Through 48 games, Jones is averaging 3.0 points and 2.4 assists in 15.7 minutes per night.