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2025 NBA Qualifying Offer Recap

By | at June 30, 2025 9:45 am

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.

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.

Did not receive qualifying offers:

Players on standard contracts:

Players on two-way contracts:

4 comments Hoops Rumors Originals

Nets, Ziaire Williams Agree To Two-Year Deal

By | at June 30, 2025 9:13 am

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.

5 comments Brooklyn Nets Newsstand Transactions

Stein/Fischer’s Latest: Jerome, Finney-Smith, Turner, Russell, T. Jones, Paul

By | at June 30, 2025 8:49 am

The Grizzlies appear to be the leaders in the race to sign free agent guard Ty Jerome, according to Marc Stein and Jake Fischer of The Stein Line (Substack link). Jerome is coming off a breakout season, but his salary demands are too high for a Cleveland team on the brink of the second apron, so he’s considered a “lock” to leave in free agency. Stein previously mentioned Charlotte and Utah as other teams to watch for Jerome, but Memphis might be separating itself from the pack.

The main question, according to the authors, is how much the Grizzlies are willing to pay Jerome, who is believed to be seeking a deal starting around the $14.1MM non-taxpayer mid-level exception to Jerome. Memphis has been operating recently with the goal of creating enough financial flexibility to renegotiate and extend Jaren Jackson Jr. while matching any offers for restricted free agent forward Santi Aldama, so any offer for Jerome couldn’t get in the way of those goals.

League sources tell Stein and Fischer that the Grizzlies tried to find a taker for Cole Anthony over the weekend. Sending out Anthony’s $13.1MM contract could enable Memphis to acquire Jerome via sign-and-trade.

There’s more inside information from Stein and Fischer:

  • As reported on Sunday, the Rockets appear to be the top threat to sign Dorian Finney-Smith away from the Lakers. Houston has the $14.1MM MLE available, but the authors hear that its offer may cover four years at a little less than the full amount. L.A. is still hoping to re-sign the 32-year-old forward, who was a part-time starter after being acquired from Brooklyn in December. Finney-Smith turned down a $15.4MM player option on Sunday, and Stein and Fischer report surprise throughout the league that his announcement wasn’t accompanied by a new deal with the Lakers.
  • There’s “no tangible expectation” that Myles Turner will leave the Pacers in free agency, according to Stein and Fischer. There was some speculation that Indiana might reconsider a new deal with its starting center in the wake of Tyrese Haliburton‘s Achilles injury, but coach Rick Carlisle seemed to squash that when he said on a radio interview last week that re-signing Turner remains the team’s “No. 1 priority.”
  • The Mavericks are expected to use their $5.7MM taxpayer MLE to sign Nets guard D’Angelo Russell to a two-year deal, Stein and Fischer add. Even with that addition, which would be the team’s 15th standard contract, they state that Dallas still hopes to open a roster spot to re-sign Dante Exum. The authors expect the Mavs to search for a team willing to take on Olivier-Maxence Prosper‘s $3MM contract for next season. The 2023 first-round pick has a $5.3MM team option for 2026/27, so it’s potentially a one-year commitment.
  • The Magic‘s decision on Sunday to decline an $11MM option on Moritz Wagner and a $2.1MM option on Caleb Houstan could create an opportunity to sign free agent point guard Tyus Jones. If Jones leaves Phoenix, Stein and Fischer speculate it could lead to Chris Paul returning to the Suns, as they first reported on Sunday.
9 comments Dallas Mavericks Houston Rockets Indiana Pacers Los Angeles Lakers Memphis Grizzlies Orlando Magic Phoenix Suns

QO Updates: J. Walker, A. Mitchell, Two-Ways, Mann

By | at June 30, 2025 8:29 am

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):

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.

2 comments Brooklyn Nets Charlotte Hornets Los Angeles Clippers Minnesota Timberwolves Oklahoma City Thunder Orlando Magic Portland Trail Blazers Transactions Utah Jazz

Hawks Considered Favorites For Nickeil Alexander-Walker

By | at June 30, 2025 7:56 am

Heading into the start of free agency, rival teams view the Hawks as the favorites to land Nickeil Alexander-Walker, likely in a sign-and-trade with the Timberwolves, according to Marc Stein and Jake Fischer of The Stein Line (Substack link). This echoes a report on Sunday from Grant Afseth of RG.

Atlanta would be able to absorb Alexander-Walker’s new salary into the $25.3MM traded player exception it created in last summer’s Dejounte Murray deal.

Alexander-Walker is a strong two-way contributor who would bring a valuable element to an emerging Hawks team. The 26-year-old shooting guard is among the league’s top three-and-D players and connected at 38.1% from beyond the arc this season.

His expected move to Atlanta will have ripple effects on at least two other teams, Stein and Fischer add. The Pistons, who have also been considered contenders for Alexander-Walker, will turn their attention to signing Hawks free agent forward Caris LeVert, who had a productive half season off the bench after being acquired from Cleveland in February. Afseth also mentioned Detroit as a potential favorite for in LeVert in the wake of gambling allegations against Malik Beasley.

As Stein and Fischer have reported before, the Kings are working on a deal with Dennis Schröder to take over as their starting point guard. They cite projections that his new contract could approach $30MM over two years, which likely means he would receive the team’s non-taxpayer midlevel exception, which totals up to about $28.9MM over two seasons. Sources tell Stein and Fischer that Sacramento is also in the market for a second point guard to back up Schröder, possibly Russell Westbrook or Malcolm Brogdon.

The Pistons’ pursuit of a shooter to replace Beasley could involve Duncan Robinson, who opted out of his contract with the Heat on Sunday. Sources tell Stein and Fischer that Robinson made his decision with the expectation that he’ll get a longer deal with Miami or that the team will work with him on a sign-and-trade.

0 comments Atlanta Hawks Detroit Pistons Miami Heat Minnesota Timberwolves Newsstand Sacramento Kings

Blazers Buy Out Deandre Ayton

By | at June 30, 2025 6:53 am

JUNE 30: The Trail Blazers put out a press release officially confirming that Ayton has been bought out and placed on waivers. He’s on track to become a free agent on Wednesday evening.

According to Sean Highkin of The Rose Garden Report (Twitter link), the big man gave up enough money in the buyout that Portland should be able to use the full non-taxpayer mid-level exception ($14.1MM) without going into luxury tax territory.

Meanwhile, Michael Scotto of HoopsHype reports (via Twitter) that the Blazers had trade talks about Ayton with a number of teams, but they didn’t want to take back multiyear salary in any deal, which made it difficult to find a match that made sense for both sides.

JUNE 29: The Trail Blazers have reached an agreement on a contract buyout with veteran center Deandre Ayton, reports ESPN’s Shams Charania (via Twitter).

Ayton had been about to enter the final season of a four-year, maximum-salary contract, which was set to pay him $35.5MM in 2025/26. The amount he’s giving up in the buyout has not yet been reported.

The Blazers have drafted centers in the first round of both 2024 (Donovan Clingan) and 2025 (Hansen Yang) and will use this opportunity to clear rotation minutes for their young big men. Portland also still has Robert Williams and Duop Reath under contract, though Williams has only played 61 games over the last three seasons due to health issues.

Ayton averaged 14.4 points and 10.2 rebounds, both of which were below his career rates, in 30.2 minutes per night this past season. He only made 40 appearances while dealing with a calf strain that kept him out of the lineup for much of the second half of the season.

Once he clears waivers, Ayton will become an unrestricted free agent and will have the ability to sign with any NBA team. The Collective Bargaining Agreement includes a rule prohibiting teams operating above either tax apron from signing a waived player who had been earning more than the non-taxpayer mid-level exception, but that restriction only applies during the regular season.

Ayton joins a free agent center group headlined by Myles Turner, Brook Lopez, Clint Capela, and Al Horford. The Lakers are the team most consistently linked to free agent centers and will likely become a top team to monitor for Ayton.

One team that will not be pursuing a partnership with Ayton is Phoenix, according to Gerald Bourguet of PHNX Sports. Bourguet reports, via Twitter, that the Suns have no interest in a reunion with their 2018 first overall pick, who helped them reach the 2021 NBA Finals.

88 comments Los Angeles Lakers Newsstand Phoenix Suns Portland Trail Blazers Transactions

Northwest Notes: Clarkson, Collins, Randle, Thunder

By | at June 29, 2025 9:01 pm

The Jazz are looking to trade Jordan Clarkson, but are having difficulty finding takers, says Andy Larsen of the Salt Lake City Tribune (via Twitter).

Larsen says that there is “next to no interest” in Clarkson on the trade market after a couple up-and-down seasons following his best years in Utah. Clarkson played a career-low 37 games this season after having his year cut short due to plantar fasciitis in his left foot. Prior to that, he was averaging 16.2 points and 3.7 assists in 26.0 minutes per night, primarily off the bench.

Larsen adds that the Jazz extended Clarkson in 2023 with the hopes that they could move him later, but the market they expected to be there for him appears to have moved on.

After trading the productive Collin Sexton to the Hornets for Jusuf Nurkic, the Jazz appear to be focusing on opening up rotation minutes for their young players while positioning themselves for the 2026 draft.

We have more from the Northwest division:

  • Larsen also confirms (via Twitter) that the Jazz are actively attempting to move combo forward/center John Collins this summer, saying he considers it unlikely that either Collins or Clarkson are on the roster going into next season. Collins averaged 19.0 points and 8.2 rebounds per game this season while shooting 39.9% from three, but his presence may impede great roles for youngsters like Taylor Hendricks and Kyle Filipowski.
  • Julius Randle is expected to remain trade-eligible after agreeing to a three-year, $100MM deal with the Timberwolves, according to The Athletic’s Jon Krawczynski (Twitter links). That suggests his contract will be completed as an extension – not a free agent deal – and that the annual raises won’t exceed 5%. Krawczynski adds that the Wolves aren’t planning on moving Randle, but this deal should allow them the flexibility to do so if the right opportunity presents itself.
  • The Thunder didn’t change their draft strategy or identity after winning the championship, writes Rylan Stiles of Sports Illustrated. “Every draft that we have is an opportunity to reflect back on the others and figure out what we can do better,” head of basketball operations Sam Presti said. “But the one thing we’ve never really strayed from, and I don’t think we will, is the focus on drafting people and not players. I think the characteristics of winning players, they multiply at a greater level than just talented players. They scale up better.” After selecting Thomas Sorber and Brooks Barnhizer in the 2025 draft, the Thunder took care of a pair of their previous draftees, signing Jaylin Williams and Ajay Mitchell to three-year extensions.
15 comments Minnesota Timberwolves Oklahoma City Thunder Utah Jazz

Jazz Trade Collin Sexton To Hornets For Jusuf Nurkic

By | at June 29, 2025 8:44 pm

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.

52 comments Charlotte Hornets Newsstand Transactions Utah Jazz

Celtics Rumors: White, Horford, Kornet, Gonzalez

By | at June 29, 2025 8:02 pm

The Celtics have had one of the busiest offseasons of any team ahead of the start of free agency, having already agreed to trade Jrue Holiday to the Trail Blazers and Kristaps Porzingis to the Hawks, and they might not be done.

With Boston still working to move off salary and create extra cap flexibility in the wake of Jayson Tatum‘s Achilles tear, Anfernee Simons, Georges Niang, and Sam Hauser have all been mentioned as trade candidates. There has also been speculation about whether Jaylen Brown or Derrick White could be moved, though Celtics vice president of basketball operations Mike Zarren made it clear in recent days that the team has not come close to trading either player.

According to Jake Fischer of The Stein Line (Substack link), one rival team was told the Celtics would have insisted on a “Mikal Bridges-type” package to trade White.

The Knicks’ deal for Bridges last season included five first-round picks (four unprotected), a pick swap, and a second-round pick. The Magic’s recent trade for Desmond Bane required a similar package, with Orlando sending out four unprotected picks and one pick swap along with Kentavious Caldwell-Pope and Cole Anthony for salary-matching purposes.

White averaged a career-high 16.4 points and 4.5 rebounds per game this past season for the Celtics, along with 4.8 assists and 1.1 blocks. He also shot 38.4% from three on a career-best 9.1 attempts per contest. The 30-year-old guard is in the first year of a four-year, $118MM contract that includes a player option in the 2028/29 season.

Here’s more on the Celtics:

  • Free agent center Al Horford is weighing his options and is unlikely to come to a decision right away when free agency opens tomorrow, reports Adam Himmelsbach of the Boston Globe (via Twitter). The Celtics have been looking into flipping newly-acquired Simons and Niang in the hopes of retaining one or both of Horford or Luke Kornet, though Horford is expected to have several suitors, including, potentially, the Knicks.
  • Speaking of Kornet, the veteran center proved himself a valuable rotation big man this season, averaging 6.0 points, 5.3 rebounds, and 1.0 block in just 18.6 minutes per game this season. Brian Robb of MassLive broke down the teams who might be in the mix for Kornet this summer. His list includes the Spurs and Clippers, who are expected to consider pursuing the big man, as well as the Warriors, Bucks, and Hornets, the latter of whom are in dire need of frontcourt depth after trading Jusuf Nurkic for Collin Sexton. Robb adds that there is a mutual fondness between Kornet and the team, which holds his Bird rights, but re-signing him without any additional cost-cutting moves would push the Celtics back into the second apron, which they are hoping to avoid.
  • In case you missed it, the Celtics reportedly sought prospects who might be willing to accept 80% of the rookie scale contract at No. 28 in the 2025 draft. The player they selected, Hugo Gonzalez, didn’t agree ahead of time to those terms, however.
20 comments Boston Celtics Charlotte Hornets Golden State Warriors Los Angeles Clippers Milwaukee Bucks San Antonio Spurs

Rockets Sign Jabari Smith Jr. To Five-Year Extension

By | at June 29, 2025 7:03 pm

July 6: Smith’s deal is now official, according to the transaction log at NBA.com.

June 29: The Rockets intend to sign Jabari Smith Jr. to a five-year rookie scale extension worth $122MM, reports ESPN’s Shams Charania (via Twitter).

Smith was in and out of the Rockets’ starting lineup this season, but is presumed to be in line to take the starting power forward role following the Rockets’ trade for Kevin Durant.

The No. 3 pick in the 2022 draft, Smith posted a career-low in points per game as his role fluctuated and he dealt with injuries, but the appeal of his skill set in the modern game is clear. Smith has averaged 13.1 points, 7.6 rebounds, and 0.8 blocks while shooting 35.9% on 4.9 three-point attempts per game over the previous two seasons.

A tough-minded defender with a capable jump shot and some untapped potential as a shot creator, Smith will slot into a primarily off-ball role offensively next to Fred VanVleet, Alperen Sengun, and Durant, while helping create a defensive infrastructure as a skilled weak-side rim protector next to Sengun and Amen Thompson.

This contract will lock up the talented young power forward through the 2030/31 season. The Athletic’s Kelly Iko confirms (via Twitter) that the deal is fully guaranteed and contains no team or player options.

ESPN’s Bobby Marks expressed some surprise at how early the deal got done, as typically the first week of free agency remains the providence of players receiving max contracts, which Smith did not.

The Rockets still have Tari Eason‘s extension eligibility to consider, so whether the Smith deal impacts Eason’s candidacy remains to be seen. Yossi Gozlan of the Third Apron writes (via Twitter) that with the Smith extension, the Rockets are still $80MM below the 2026/27 luxury tax line, giving them room to extend both Durant and Eason.

There has been speculation that Houston might extend one Smith or Eason and wait until next year’s restricted free agency to decide on the other’s future, but outside of Durant, the Rockets have clearly prioritized continuity with the team that won 52 games last season, retaining VanVleet and Steven Adams while reportedly planning on bringing back Aaron Holiday, Jae’Sean Tate, and Jeff Green.

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