2026 NBA offseason trade grades: Finney-Smith, Schroder, more deals

The NBA offseason is here, with Aaron Wiggins' trade to the Atlanta Hawks on June 22 the first move in what has already been a frenzied offseason.

The big news came a day before the NBA draft, when Giannis Antetokounmpo was traded by the Milwaukee Bucks to the Miami Heat in a blockbuster. There was another big trade the morning after the draft, as the Charlotte Hornets shipped LaMelo Ball to the Minnesota Timberwolves. And the trades haven't stopped since.

I'm grading every trade this offseason, including draft deals, and breaking down the ramifications for all teams and players involved.

To determine each grade, I'm looking at multiple factors, including the on-court impact and ages of involved players, the cost in terms of draft picks and future financial implications, and the context of the team's short- and long-term outlooks. How risky or certain is the move? And how much does it help or hurt the team's chance to win the championship, next season or beyond?

Let's get into the latest moves:

Quick links: 
Latest buzz | FA signing grades | Trade machine
Depth charts | Offseason guides | Draft coverage

Sept. 22: Hawks send Hield, Nembhard to Hornets for Finney-Smith

Charlotte Hornets get: G Buddy Hield, G Ryan Nembhard, cash considerations
Atlanta Hawks get: F Dorian Finney-Smith

Grade for Hawks: B+

For the Hawks, this swap of reserve wings is primarily about resolving a roster crunch, as they trade two players -- including backup guard Nembhard, whom they had initially acquired alongside Luguentz Dort in an earlier trade -- for one.

That fix comes at a minor price, as Finney-Smith will earn $14.2 million this season, compared with $11.8 million combined for Hield and Nembhard. (Finney-Smith and Hield are both nominally signed for additional years, but for zero guaranteed money.) The Hawks are reportedly sending cash to Charlotte in this deal, as well.

But this deal is smart business for the Hawks because it gives them another potential two-way contributor on the wing, as they build out a fearsome defensive rotation. Hield doesn't fit that mold, and he never seemed to find his footing in Atlanta. He arrived from Golden State in the Kristaps Porzingis trade last February but played just 51 minutes over the rest of the regular season, as the Hawks enjoyed their late-season surge without him.

Finney-Smith, meanwhile, was far worse than Hield last season, as he averaged only 3.3 points per game and made 27% of his 3s after returning from ankle surgery. That disappointing level of production incentivized Houston to trade him to Charlotte earlier this offseason, in a salary dump that brought the Hornets three second-round picks.

But as I wrote at the time of that initial trade, "Finney-Smith failed to launch in Houston, but he was a standout role player as recently as the 2024-25 season, due to his 3-and-D skill set and excellent on/off rating. Now 33 years old, Finney-Smith might just be done as an NBA rotation player, but he's also a reasonable bounce-back candidate from an injury-marred season, and could very well be a contributor in Charlotte."

Substitute "Atlanta" for "Charlotte" in that last sentence, and that analysis still holds for the Hawks.

Grade for Hornets: B-

If the Hornets didn't think Finney-Smith would bounce back for them, then at least they still gained three second-round picks for acquiring him, then saved some money by flipping him to Atlanta anyway.

Odds are that this trade won't move the needle much either way next season, but I would have preferred Charlotte to give Finney-Smith a shot to earn minutes. Hield has a track record of falling out of favor in several cities now, while Finney-Smith's reputation has suffered from just one bad year.

Still, the Hornets have a rather crowded rotation themselves, and Hield might fit Charlotte coach Charles Lee's preferred style better than he did Quin Snyder's in Atlanta. Charlotte led the NBA in 3-point makes and ranked third in 3-point percentage last season, and Hield is a career 39.5% shooter from distance.

Aug 19: Watson to Cavs, Strus to Clippers in multiteam deal

Cleveland Cavaliers get: G Peyton Watson, F Cam Whitmore
LA Clippers get: G Max Strus
Denver Nuggets get: F Julian Reese, unprotected first-round pick (2031, from CLE), second-round pick (2032, from SAC)
Washington Wizards get: G Tre Mann, second-round pick (2027, from CLE, via LAC), cash considerations

Grade for Cavaliers: B

Look at just about any statistic and chances are that Watson posted a career-best mark last season. It wasn't just that the 23-year-old forward averaged career highs in points, rebounds and assists; he also made 41% of his 3-pointers on a career-high volume and pulled off the rare feat of increasing his usage rate and true shooting percentage by large margins simultaneously.

In other words, Watson got many more opportunities last season, and he made the most of them.

The former No. 30 pick has always had potential, particularly on the defensive end, but he wasn't consistent or productive enough on offense to earn more playing time. In his playoff career, Watson has averaged only 10.4 minutes per game while receiving numerous DNPs.

That all changed last season. And although Watson didn't get the added opportunity to prove himself on the playoff stage because of a hamstring strain late in the year, he showed enough development in his breakout regular season -- as well as the potential for even more growth in the future -- to warrant a big raise in restricted free agency.

By itself, this is a perfectly reasonable new contract for a player with his youth and skill set. Before the offseason began, ESPN's Bobby Marks wrote that he'd offer Watson a four-year, $90 million deal, which is almost exactly what Cleveland ended up giving him.

Because Watson was a restricted free agent and Cleveland faced a financial strain, however, the Cavaliers couldn't sign Watson outright; instead, they needed to sacrifice Strus and a future unprotected first-round pick in the process.

On one hand, that cost is much more palatable than, say, what the Lakers paid in a similar trade for restricted free agent Walker Kessler earlier this summer.

But Strus was a valuable player for Cleveland, as both a proven 3-point shooter (37% in his career and with the Cavaliers) and solid defender. And that far-off future first-round pick could be valuable down the line, as well as hamper the Cavaliers' ability to make other trades in the years to come. (The Jazz already control their 2027, 2028 and 2029 firsts from the Donovan Mitchell blockbuster.)

Because of those extra considerations, this isn't a slam dunk A-plus deal for Cleveland; in a vacuum, Strus might even be a more valuable player than Watson right now. But it's easy to see -- and believe in -- the bet that the Cavaliers are making with this trade: that Watson provides much more upside than Strus, and that he's the wing who can finally bridge the positional gap between the Cavaliers' two All-Star guards and their two All-Star bigs.

In recent seasons, Cleveland has invested in and cycled through Strus, De'Andre Hunter, Caris LeVert, Dean Wade and Isaac Okoro, among others, in an effort to fill that void. None of those options truly succeeded. Now it's Watson's turn to try.

Grade for Nuggets: D

Given the extreme cost of the Nuggets roster that's already in place -- they're currently the only team in the second apron -- it's understandable why they didn't feel comfortable retaining Watson at such a price.

But letting him walk is a bitter pill to swallow for a Denver team that needed his youth and upside. The Nuggets just lost a key player, but they're a win-now team, with their top four players all entering their late primes: Nikola Jokic and Aaron Gordon will be 31 years old next season, Cameron Johnson will be 30 and Jamal Murray will be 29.

Moreover, the Nuggets have always been a thin team in the Jokic era, and they look even thinner following a quiet offseason. Of their top eight scorers last year, three have left the team this summer: Watson, Tim Hardaway Jr. and Jonas Valanciunas. And the only players they've brought in as replacements are Marvin Bagley III -- a questionable fit to follow Valanciunas as Jokic's backup -- and EuroLeague wing Alpha Diallo.

In the bigger picture, losing Watson means the Nuggets don't get to reap the long-term rewards of developing him from a raw reserve into a bona fide contributor. Amid a host of failed draft picks in the 25-40 range over the last half-decade -- Jalen Pickett, Julian Strawther, Hunter Tyson, Bones Hyland -- Watson was the one standout, and Denver clearly missed his two-way ability in its shocking playoff loss to the injury-ravaged Minnesota Timberwolves last spring.

But now the Cavaliers will benefit, because they were able to create enough financial wiggle room to dip below the second apron and add Watson, while the Nuggets were not.

The Nuggets' draft pick compensation is sufficiently enticing that this deal isn't an unmitigated disaster. Now the Nuggets, who didn't have any tradeable firsts before Wednesday, can theoretically use this unprotected Cavaliers pick to trade for a different player.

But will that player be better than Watson, who provided perimeter defense and athleticism otherwise lacking on the Nuggets' roster? And will that player fit any better into Denver's financial picture?

Depending on what they do with this pick, the Nuggets' front office could make this grade look silly in the coming months. But for now, it seems like they would have just been better off re-signing Watson.

Grade for Clippers: A-

Strus is signed for $16.6 million in 2026-27 before becoming a free agent next summer. That amount fits neatly onto the Clippers' books while keeping them below the tax line.

The Clippers are acquiring Strus on a short-term commitment, almost for free. Their only cost to add a proven 3-and-D veteran with ample playoff experience is a second-round pick they acquired from Philadelphia last month, in order to take on Johni Broome's salary.

That's a nice bit of business for the Clippers, even if it's still unclear where they fit into the Western Conference pecking order, or if they have any real ambitions for the 2026-27 season if the Kawhi Leonard trade goes through. If so, the Clippers' best course of action could be hoping they're able to re-trade Strus at the deadline for more draft compensation than the mere second-round pick with which they're parting in this deal.

Grade for Wizards: C+

The Wizards' angle in this deal is the least compelling, as they're getting a second-round pick and a minor upgrade at the guard position, via Mann, who first joined the Cavaliers last week in a trade for Dennis Schroder.

Aug. 14: Cavs trade Schroder to Hornets

Cleveland Cavaliers get: G Tre Mann
Charlotte Hornets get: G Dennis Schroder, cash considerations

Grade for Hornets: B-

Schroder is no stranger to changing teams: This deal represents the ninth time that the guard has been traded, and the Hornets will be his 12th team. Seven of those stops have come just since the 2023-24 season.

He has become an NBA vagabond for two main reasons. First, Schroder is a talented but inconsistent player, which means that he can improve a team's guard rotation (see: his stints with the Nets and Pistons in 2024-25) but isn't guaranteed to do so (see: his much less successful stint with the Warriors that season).

Second, the Sacramento Kings gave him a wildly over-market three-year, $44.4 million contract in a sign-and-trade last summer, which means he became a prime candidate to be traded from a team that needs to shed salary.

That's not an issue for the Hornets, however, who dumped a ton of money with their trades this summer. Schroder will make $14.8 million this season, or $6.8 million more than Mann's $8 million deal, and is signed for $15.5 million next season -- only $4.4 million of which is guaranteed.

The Hornets can stomach that cost. And in return, they bolstered their point guard depth, which was lacking after the blockbuster LaMelo Ball trade. Charlotte's only point guards before Friday's trade were Coby White (who's better suited as a combo guard than pure point), rookie Christian Anderson and Mann. But Mann was a mere bit player last season, averaging 5.5 points in 12.6 minutes per game.

Because Schroder will turn 33 next month and has already run hot and cold for years, it's unclear how much of an upgrade he'll be in Charlotte, which is why the Hornets don't grade out even better for this deal. They also didn't pick up any draft picks in the process. In contrast, they received an A-minus for taking on Dorian Finney-Smith's contract -- along with three second-round picks -- from the Rockets.

But compared with Mann and an unproven rookie, Schroder should provide better depth for the Hornets next season. And if not, well, Schroder has already been traded in February in four of the past five years, so Charlotte could always try to spin him off to yet another team at the deadline.

Grade for Cavaliers: B

For Cleveland, trading Schroder -- whom the team initially acquired in a dual salary dump involving De'Andre Hunter -- is all about money. Saving the $6.8 million difference between Schroder's and Mann's salaries places Cleveland roughly $32 million below the first apron and $44 million below the second apron, according to ESPN's Bobby Marks.

That seems like a lot of room already -- but the expected new contract for James Harden should eat into much of that space. So an extra chunk of change could make a big difference if Cleveland intends to pursue other meaningful additions, such as restricted free agent Peyton Watson or unrestricted free agent Jonathan Kuminga.

And after a rough playoff showing, during which Schroder averaged 5.5 points in 15.9 minutes per game on 50% true shooting, the Cavaliers shouldn't miss his on-court contributions too dearly. With Harden presumably rejoining the team and Donovan Mitchell firmly rooted in Cleveland, the Cavaliers have less need for the ballhandling and creation Schroder provides.

They should be able to distribute his playing time to younger players whose superior shooting strokes are a better fit around Harden and Mitchell regardless.

July 19: Lu Dort dealt to Hawks in three-team deal

Atlanta Hawks get: G Luguentz Dort, G Ryan Nembhard
Dallas Mavericks get: F Zaccharie Risacher
Oklahoma City Thunder get: Three future second-round picks

Grade for Oklahoma City: B-

What this means for Thunder: Oklahoma City's offseason of financial maneuvers might finally be complete now that the team has traded Dort, Aaron Wiggins and Isaiah Joe to limbo beneath the second apron threshold. Those moves will save the Thunder more than $300 million next season, between those players' salaries and their tax savings, as well as avoid the second apron's harsh roster restrictions for another year.

But this trade is materially different from the Thunder's other salary dumps this summer. Wiggins and Joe are solid role players who were nonetheless luxuries on Oklahoma City's stacked roster; they ranked 10th and 11th on the team, respectively, in playoff minutes over the past two seasons.

Dort, conversely, was a vital member of the team that won the 2024-25 championship and finished with the league's best record in 2025-26. He ranked third on the Thunder in playoff minutes over the past two seasons, and he started every playoff game.

He may still have been the most expendable member of Oklahoma City's core. Cason Wallace is younger than Dort, with more offensive zest in his game. And while he isn't an elite defender in exactly the same way -- Wallace causes more turnovers, while Dort is more physically imposing -- he can step right into Dort's spot defending the best guard on opposing teams.

Moreover, between Wallace, Shai Gilgeous-Alexander, Jalen Williams, Alex Caruso, Ajay Mitchell and Jared McCain, the Thunder are still loaded on the perimeter, even after their three trades this summer. That's different from the center position, where Isaiah Hartenstein still offers irreplaceable two-way production; so if the Thunder had to choose between keeping Dort and Hartenstein, as seemed likely when both players entered this summer on team options, then Hartenstein was always the more obvious choice.

That's doubly true when considering Oklahoma City's chief competition atop the Western Conference. Hartenstein was the Thunder's best option against the Spurs' Victor Wembanyama in the conference finals, while Dort didn't really have a place against San Antonio's guards.

If anything, Dort was a weak link against a Spurs team that left him open on the perimeter. He fell to seventh on the Thunder in minutes in the conference finals, and the Thunder had a minus-63 point differential with him on the court, which was by far the worst for any player in the series.

Trading Dort now, with just a year left on his contract, gives the Thunder more draft assets and clears more cap space to extend Wallace and Mitchell, without necessarily making the team worse against San Antonio.

Yet that optimistic view of the tradeoffs doesn't mean this is a risk-free deal. Dort might not have the same upside as other players on the Thunder roster, but he's almost always available -- at least 69 games in each of the past five seasons, with zero missed playoff games -- and offers a high, firm floor.

Because the young Thunder guards -- McCain and Mitchell, plus Nikola Topic and Bennett Stirtz, to the extent that they'll play this season -- lean more toward the offensive side, Oklahoma City is now just one Wallace injury away from defensive cracks appearing on the perimeter for the first time in the team's current run of contention.

Losing Dort, as well as depth options Wiggins and Joe, will make the Thunder worse in the 2026-27 regular season; such is life in a second apron world. They're betting that their playoff quality will remain high enough to justify the cost savings and asset reallocation that this trade provides. That bet may well pay off, but it's also the riskiest one the Thunder have made in a couple of years.

Grade for Atlanta: A-

What this means for Hawks: Atlanta continues a strong offseason with another shrewd trade. It wouldn't seem that way based on the draft pedigrees of the three players involved in this trade, as Risacher was a No. 1 pick and both Dort and Nembhard were undrafted.

Ignore the draft record, though, and Dort is clearly a more valuable player, both in the present and future, than Risacher. The 27-year-old wing is still in his prime age range and only a year removed from being named to the All-Defensive first team, where he joined Dyson Daniels, now his new teammate in Atlanta.

Whether Dort and Daniels can function together offensively remains to be seen, but between Dort, Daniels and Nickeil Alexander-Walker, Atlanta now boasts one of the best defensive trios in the NBA. The Hawks finished 10th in defensive rating last season and could easily push into the top five in 2026-27.

Dort also gives the Hawks another useful rotation player, period, which is a necessity for Atlanta to improve next season. As I wrote when analyzing Atlanta's trade for another Thunder player, Wiggins, the Hawks ended last postseason with what was effectively a six-man rotation, and one of those six players (Jonathan Kuminga) won't be back. Dort and Wiggins on the wings, plus Nembhard and No. 8 pick Kingston Flemings in the backcourt, should help address that weakness.

As for the price to acquire Dort, it's possible that giving up on Risacher this early will prove foolish in the long run. He's a 6-foot-8 wing who's still just 21 years old, which makes him among the most valuable player archetypes in the NBA.

But Risacher is fairly expensive ($13.8 million in 2026-27, with a $17.4 million team option for 2027-28), and he hasn't looked the part of a future star, or even a future starter for a contender, in his NBA career to date. His statistics were essentially the same or slightly worse across the board in his second season compared to his first, showing little development, and he'd lost the trust of Atlanta coach Quin Snyder.

Risacher played just 23 total minutes in the playoffs, and the majority of those came in the second half of the 51-point blowout loss that ended Atlanta's season.

Out of 41 No. 1 picks in the lottery era, Risacher ranked 39th in box plus/minus through each player's first two seasons, per Stathead, ahead of only infamous draft busts Anthony Bennett and Michael Olowokandi.

Typically, a future contributor has demonstrated more evidence of his ability on the court by this point in his career. Andrew Wiggins -- whose BPM was still much better than Risacher's -- is the only success story among the players at the bottom of this list.

If this were a retrospective draft grade, the Hawks would receive failing marks for selecting Risacher at No. 1 instead of Alex Sarr (who went second) or Stephon Castle (who went fourth). But Atlanta viewed that mistake as a sunk cost and turned Risacher into a better player in this trade.

Grade for Dallas: B+

What this means for Mavericks: This is a simple talent play for Dallas, which traded a small undrafted guard for a 6-foot-8 2024 No. 1 pick, who's two years younger to boot. Nembhard was a fine backup point guard who helped stabilize a turnover-prone backcourt last season, and Risacher doesn't help alleviate Dallas' glut of forwards -- but this exchange makes perfect sense for the upside alone.

Whether or not Risacher looks better in his new environment, this is a strong process move for a team in need of young talent around Cooper Flagg, with little future draft capital on the way. With Risacher and Flagg, the Mavericks now have the No. 1 picks from both the 2024 and 2025 drafts.

Risacher will slot into the Anthony Davis trade exception, and Dallas now has a season to watch him develop before deciding whether to extend him next summer or let him reach restricted free agency in 2028.

July 7: Pistons trade LeVert to Bucks for Prince, Harris

Milwaukee Bucks get: Caris LeVert, two second-round picks
Detroit Pistons get: Gary Harris, Taurean Prince

Grade for Detroit: B-

What this means for the Pistons: Within the last week, the Memphis Grizzlies traded Santi Aldama and the Houston Rockets traded Dorian Finney-Smith, and now the Pistons join the party with LeVert. The common thread between those three transactions is that all three teams signed those players last summer, only to want a mulligan a year later.

LeVert's two-year, $28.9 million deal with Detroit was a bust from the start. He averaged a career-low 7.4 points last season, as his true shooting declined from 58% in 2024-25 to just 52% last season.

Things didn't get much better in the playoffs, even as coach J.B. Bickerstaff turned to LeVert -- who ranked seventh on the team in playoff minutes -- in his search for more offense. The veteran wing reached double-digit points only twice in the postseason and averaged 5.9 points in the playoffs; he didn't play in Detroit's Game 7 win over the Orlando Magic.

Harris and Prince won't be much more help on the court for Detroit if they even stay on the team into the season. Harris averaged 2.7 points last season. Prince was more productive but appeared in only 26 games.

But this trade is chiefly motivated by finances. To shed LeVert's contract and save $7.2 million -- the balance of LeVert's salary minus Harris' and Prince's $3.8 million apiece -- Detroit had to give up two second-round picks. That seems like a fair price, given that Houston sent Charlotte three second-rounders to save $13.3 million in the Finney-Smith trade.

How the Pistons end up using that extra wiggle room remains to be seen, but despite trading for Isaiah Joe, trading Isaiah Stewart, re-signing Kevin Huerter and swapping John Collins for Tobias Harris, their to-do list is still crowded. Jalen Duren lingers in restricted free agency, and the Pistons haven't added a true second scorer who can make Cade Cunningham's life easier.

Grade for Milwaukee: B+

What this means for the Bucks: Before this trade, the rebuilding Bucks didn't have second-round picks in 2027, 2028, 2029, 2030, 2031 or 2032, so suffice it to say that a couple of draft assets from Detroit are more valuable in Milwaukee than just about anywhere else in the NBA.

That's the thrust of the trade for Milwaukee, which doesn't have much use for declining veterans in their 30s -- a description that characterizes all three players in this trade.

In another city, in another time, LeVert might have received a chance to bounce back as a scorer for a rebuilding team. But that's not the most likely outcome here: If LeVert stays in Milwaukee, he'll join a crowded perimeter rotation that already included Ryan Rollins, Tyler Herro, Jaime Jaquez Jr., Kevin Porter Jr., Kasparas Jakucionis and lottery pick Brayden Burries. Odds are that at least one of those players, perhaps more, won't still be on Milwaukee's roster by opening night.

July 3: Lakers trade Ayton to Wizards for Hardy, picks

Washington Wizards get: Deandre Ayton
Los Angeles Lakers get: Jaden Hardy, two second-round picks (in 2031 and 2032)

Grade for Washington: C

What this means for the Wizards: After replacing Anthony Davis as the Lakers' center, Ayton is now joining him in Washington. Add in AJ Dybantsa and Alex Sarr, and that's three No. 1 picks and a No. 2 pick all crammed into Washington's frontcourt, as well as former No. 2 pick D'Angelo Russell still on the roster, as well.

Ayton hasn't looked like a No. 1 pick for a while, of course, but the Wizards aren't expecting him to. Instead, they're hoping he'll "provide insurance for Washington's front line while Sarr recovers" from offseason foot surgery, per ESPN's Dave McMenamin.

He can do so credibly enough, and he'd become especially important to the front line if the Wizards end up trading Davis at some point before next summer, when he could become a free agent if he opts out of his $62.8 million player option. Ayton averaged 12.5 points and 8.0 rebounds per game last season.

But there are two confusing aspects to the Wizards' side of this trade. The first is what it says about their view of Sarr, who played 100% of his minutes as the Wizards' center last season, per Cleaning the Glass' positional breakdown. Sarr's average shot distance moved from 14.4 feet away in his rookie season to 10.5 feet away last season, and his numbers skyrocketed as a result.

With Davis and Ayton on the roster, though, the Wizards seem set on using Sarr as a power forward and crowding his space inside with other non-shooting big men.

The second confusing factor concerns the opportunity cost of trading draft capital and Hardy -- who averaged 22.2 points per 36 minutes and made 42% of his 3-pointers after a midseason trade to the Wizards last season -- when similar centers to Ayton are freely available.

One such player is already on the Wizards' roster: 23-year-old Tristan Vukcevic is a younger, lower-cost option to Ayton ($3 million this season, with a team option for the same amount next season), who quietly filled up the stat sheet last season. The 7-foot Italian averaged 23.7 points per 36 minutes and made 35% of his 3s on high volume.

Ayton is a former No. 1 pick, but there's a reason he's moving to his fourth team in five years. In the first four seasons of his career, Ayton had a positive on/off rating, meaning his team was better with him on the floor. But in three of the past four seasons, Ayton has had a severely negative on/off rating.

Last season, the Lakers were minus-0.4 points per 100 possessions when Ayton played, per Cleaning the Glass, versus plus-5.3 when he didn't.

Grade for Los Angeles: B

What this means for the Lakers: Ayton seemed like an obvious trade candidate as soon as he opted in to his $8.1 million player option for 2026-27, and especially so after the Lakers added Walker Kessler in a pricey sign-and-trade.

Dealing Ayton saves the Lakers $2.1 million -- the difference between his and Hardy's salaries -- which they'll use to help fit their flurry of free agent signings into their cap space. And with Kessler receiving the majority of minutes at center, the backup role should be easily filled on the free agent market, with "centers such as Andre Drummond, Jonas Valanciunas and Kevon Looney among those being considered," according to ESPN's Shams Charania.

The Lakers' return from Washington, meanwhile, is minor but shouldn't be overlooked. Hardy could help the Lakers, based on his surge down the stretch last season, or he could be dealt to help fill another roster hole. And the addition of two second-round picks gives the Lakers crucial draft capital they can use in other deals, because until Friday, all they had left was one first-round pick (in 2032) they could swap and one second-round pick (in 2033) they could trade.

Ayton puts up better box score stats than the caliber of backup center who will replace him, and his loss means the Lakers are even more dependent on Kessler staying healthy, after committing so many resources to a center who appeared in just five games last season. But the added financial and draft flexibility from this exchange makes it well worth it for the Lakers.

July 3: Hornets acquiring Finney-Smith, picks from Rockets

Charlotte Hornets get: Dorian Finney-Smith, three second-round picks (via Memphis in 2027, Houston in 2028 and Houston in 2033)
Houston Rockets get: $13 million trade exception

Grade for Houston: C

What this means for the Rockets: Continuing the trend of teams taking mulligans on deals they handed out last summer, Houston is trading Finney-Smith in a salary dump, which will allow the Rockets to move out of both the first apron and luxury tax.

Finney-Smith seemed like a shrewd pickup last summer, but he missed the start of the 2025-26 season after ankle surgery and never found his footing in Houston. He averaged only 3.3 points per game on 27% 3-point shooting, just a year after scoring 8.7 PPG and making 41% of his 3s.

The financial impetus for the Rockets' side of this trade makes sense, after they negotiated smart deals with free agents Marcus Smart and Tari Eason. But three second-round picks is a fairly heavy price to pay to get off Finney-Smith's contract, which is only guaranteed for one more year at $13.3 million.

Houston is now out of second-round picks from 2028 through 2033, save the back end of one unfavorable swap in 2031. That hole could hamper the team's ability to add low-cost talent for the near future, but even more importantly, second-round picks are a key asset to grease the wheel for trades.

The Rockets have extra first-round picks in 2027 and 2029, and they own all of their own firsts for the next seven years. But making minor trades could be a bit more challenging going forward.

Grade for Charlotte: A-

What this means for the Hornets: Finney-Smith failed to launch in Houston, but he was a standout role player as recently as the 2024-25 season, due to his 3-and-D skill set and excellent on/off rating. Now 33 years old, Finney-Smith might just be done as an NBA rotation player, but he's also a reasonable bounce-back candidate from an injury-marred season, and could very well be a contributor in Charlotte.

If he does bounce back, the Hornets can keep him around for another $13.3 million in 2027-28. If not, they can let him go with no penalty because his contract is only guaranteed for this upcoming season -- Charlotte can easily afford him in 2025-26 after opening up oodles of cap space with its trades of LaMelo Ball and Miles Bridges.

That's a win-win proposition for the Hornets, who picked up three second-round picks for facilitating Houston's cap maneuver. Charlotte now has 20 second-round picks over the next seven years.

At some point, there are diminishing returns on such a large haul; is there anything the Hornets can accomplish with 20 second-rounders that they couldn't with 17?

But between their collection of draft assets and their financial flexibility, the Hornets are in prime position to make just about any transaction they want in the years to come. In the modern NBA, that optionality is a prize in and of itself.

July 1: Celtics trade Jaylen Brown to Sixers for Paul George, picks

Boston Celtics get: F Paul George, 2028 first-round pick (could convert to a pick swap), 2031 first-round pick (unprotected), 2028 and 2030 second-round picks
Philadelphia 76ers get: G Jaylen Brown

Grade for Boston:  D+

What this means for Celtics: Here's a hot take, right off the bat: The Celtics might very well win 50-plus games again next season. After all, they went 56-26 last season despite playing only 16 games with Jayson Tatum, who was recovering from a torn Achilles.

If Tatum is fully healthy next season, he could mimic Brown's 2025-26 production. And the Celtics have otherwise improved this summer, as they added Mitchell Robinson and have thus far retained the rest of the core that powered their surprisingly strong season.

Yet that's a glib way to start this analysis, because swapping Brown for George makes the Celtics worse. It clearly makes them worse. Crucially, it lowers their playoff ceiling, even if the likes of Hugo Gonzalez, Baylor Scheierman and Jordan Walsh might mash together enough solid minutes to try to replace the departed All-Star throughout the regular season.

It's utterly strange that the Celtics would willingly take such a giant step back. This is the most successful franchise of the decade: In the 2020s, they rank first in regular-season wins and playoff wins, and they're the only team to both win a championship and make another Finals.

Grade for Philadelphia: A-

What this means for 76ers: Brown could be a very good fit in Philadelphia. The 76ers have two excellent guards, Tyrese Maxey and VJ Edgecombe, and one excellent-when-healthy center, Joel Embiid. But they've never had adequate forwards to connect those positional strengths, and George on a maximum contract was evidently not the answer.

Dean Wade seemed like a worthwhile solution when the 76ers agreed to a four-year deal with him Tuesday. But Brown is on a completely different level from anyone the 76ers have tried there before. He can handle more of the scoring load when the oft-injured Embiid misses time, operate as a secondary playmaker next to Maxey and provide strong perimeter defense, particularly if he's not expending so much of his energy on the offensive end.

Brown could also be a very awkward fit in Philadelphia. He hasn't played with an elite ball-dominant point guard in years, since Kyrie Irving's fairly disastrous tenure in Boston, and he has never played with a post presence like Embiid.

Read the full trade grade for the Brown-George trade.

July 1: Lakers give up picks to get Kessler from Jazz

Utah Jazz get: Two unprotected first-round picks (2031, 2033), two first-round swaps (2028, 2030)
Los Angeles Lakers get: C Walker Kessler

Grade for Utah: A+

What this means for the Jazz: As a player, Utah Jazz CEO Danny Ainge beat the Lakers in the 1984 Finals, and he eliminated the Lakers from the playoffs in both 1992 and 1993. As an executive, he beat the Lakers for another title, in 2008.

So it's saying something that this deal is one of the biggest wins Ainge has ever had over the purple and gold.

The Jazz need a center, so losing Kessler hurts. Jusuf Nurkic -- re-signed to a two-year deal -- shouldn't start for a contender at this point in his career, and Jaren Jackson Jr. has played his best basketball as a power forward next to another true big man. (With Kessler departing before he and Jackson could ever play a game together, the Jazz will never get to see how many blocks that duo could have collected.)

But there was simply no way Utah could turn down receiving two unprotected first-round picks and two pick swaps, and not having to increase their contract offer to Kessler beyond where they felt comfortable. Given his uncertain potential, Kessler might not be worth this contract anyway, and Utah was paid handsomely to let him go at that price.

The Jazz received more draft capital for Kessler than the Clippers did for Kawhi Leonard, and more than the Hornets did for LaMelo Ball. Heck, they received more draft capital than the Cavaliers received in the most famous sign-and-trade this century, when they landed two first-round picks and one swap in LeBron James' "Decision." Kessler is a valuable young center, but he's not a star.

They now have ample optionality as they decide how to replace Kessler. They could try playing Jackson at center and Lauri Markkanen at power forward, then add another center if necessary. Or they could aim for a stopgap solution next to Nurkic and use their immense pick stash to target and trade for a better long-term fit.

Those solutions likely won't be as clean or immediate as re-signing Kessler would have been, so it's fair to downgrade Utah's chances at vaulting up the standings and into the playoff field as a result of this trade. But in the bigger picture, the Jazz received tremendous value. They received the first A-plus grade for any deal this offseason.

Grade for Los Angeles: C-

What this means for the Lakers: As if it weren't clear already, the back-to-back news breaks of LeBron James leaving the Lakers on Tuesday and the team acquiring Kessler on Wednesday definitely prove that this is Luka Doncic's team now.

Chief among the player archetypes proven to work next to Doncic is a rim-running, rim-protecting center, and the 24-year-old Kessler is an ideal player in that role.

If Victor Wembanyama didn't exist, Kessler might be considered the best rim protector in the world. The 7-foot-2 center ranks second among active players (behind Wembanyama) with a career 8.3% block rate. And he ranks third over the course of his career (behind Chet Holmgren and Wembanyama, among players with at least 500 shots defended) by allowing opponents to shoot just 54.6% in the restricted area when he's the closest defender, per GeniusIQ.

On the other end of the floor, Kessler is a more limited scorer, but more than a third of his career shot attempts are dunks, per Basketball Reference -- which explains why he's a 68% career shooter. He'll surely add plenty more slams as he partners with Doncic in the seasons to come.

Kessler hasn't typically had much success as a screen-setter. In his last full season (2024-25), his team scored just 0.85 points per play directly out of his screens, per GeniusIQ. That ranked dead last -- 46th out of 46 players with at least 1,000 screens set -- in efficiency.

But that ranking comes with a major caveat, of course: The ball handlers who were playing off those Kessler picks were the likes of pre-breakout Keyonte George, Collin Sexton and Isaiah Collier. It's safe to say Doncic and Austin Reaves will be significantly more effective partners.

Kessler also led the league in offensive rebounds in 2024-25, with 4.6 per game, so he'll provide a new element to an offense that ranked 24th in offensive rebounding rate last season.

He's even stretching his range out to the 3-point line. He went 6-for-8 from distance in five games last season, after making just six total 3s (out of 34 attempts) in 2024-25. I watched film of all 64 of Kessler's career 3-point attempts, and he has improved his form over time. Earlier in his career, his left elbow placement was erratic, with a tendency to wobble, but it looked more consistent in last season's small sample.

Despite all of those strengths, and despite Kessler's theoretically perfect fit next to Doncic, however, the Lakers are paying an outrageous price to acquire him.

It's not as if Kessler is a proven All-Star. In that respect, this deal is more like the Mikal Bridges and Desmond Bane trades -- which exchanged buckets of picks for non-All-Stars -- than, say, the Lakers' trade for Anthony Davis in 2019.

There are still so many unknowns about Kessler's true quality as a two-way center. For instance, his shooting touch is largely theoretical; you'd have to place a lot of stock in last season's tiny sample to trust he's meaningfully improved from his 20% 3-point accuracy and 54% free throw accuracy from his first three seasons.

Maybe that won't matter as much on the Lakers, where all he'll need to do on offense is set screens and score the easy baskets that Doncic sets up for him. But then he won't be worth the $32.5 million per year, with a player option and trade kicker, that the Lakers are giving him; they could find a dunker who can protect the rim for a much cheaper price.

Kessler was generally healthy before last season, when a torn labrum ended his campaign after just five games, but he also hasn't played a meaningful game in his NBA career. He went to Utah as a draft pick in the Rudy Gobert trade, right as the Jazz were starting an extended swoon.

How Kessler interacts with the Lakers' future flexibility is interesting. On the one hand, there was some urgency for GM Rob Pelinka to find his center of the future now, as this was the Lakers' last offseason to use their cap space in a meaningful way before they'll have Doncic and Reaves on the books for more than half of the cap.

But on the other hand, Pelinka sacrificed nearly all his future draft flexibility by committing not only to give Kessler a contract at the very top of his market, but also to give the Jazz control of four future picks in the process. The Lakers already owed a top-four-protected pick to Memphis in 2027 and an unprotected first-rounder to Dallas in 2029, and they don't have any second-round picks until 2033.

They are now effectively out of picks they can use to make further roster upgrades for several years. This trade had better work out and elevate the Lakers to true championship contention, because they're now all-in on the Doncic-Reaves-Kessler core.

July 1: Mavs add Santi Aldama in trade from Grizzlies

Dallas Mavericks get: F Santi Aldama
Memphis Grizzlies get: G AJ Johnson, 2030 first-round pick (via Warriors, top-20 protected), two second-round picks

Memphis: B+

What this means for Grizzlies: This trade represents a case of having second thoughts for the Grizzlies, who signed Aldama to a three-year, $52.5 million deal last summer.

Aldama is a perfectly acceptable NBA player, as a 7-footer with legitimate shooting range and an eagerness to score. He averaged a career-high 14 points in 41 games last season, before his season ended early because of a right knee injury.

But even though the Grizzlies traded Jaren Jackson Jr. last season, they've also added several power forwards since, drafting Cameron Boozer with the third pick and acquiring Jerami Grant in the Ja Morant trade. Memphis also traded for Isaiah Stewart from Detroit, leaving the Grizzlies with three frontcourt players who deserve more playing time than the 25-year-old Spaniard.

Trading Aldama helps clear up that logjam, frees a roster spot (Johnson is a candidate to be cut) and saves Memphis some money. Aldama is owed $17 million next season and another $17 million (on a team option) in 2027-28.

Dallas: C+

What this means for Mavericks: In a strange bit of circumstance, Aldama is essentially serving as the Mavericks' delayed return from their trade of Anthony Davis, half a year after they dealt him to Washington. In that exchange, Dallas received, among other assets, this protected Warriors pick, Johnson and a trade exception that they're now using to acquire Aldama.

Aldama is obviously an inferior player to Davis, a 10-time All-Star (and to Luka Doncic, whom Dallas initially traded for Davis). But that's not the fairest way to view this trade. Aldama is a clear talent upgrade to Johnson, and he'll make the Mavericks better next season with the addition of his size and shooting.

But just as Aldama's departure cleared a positional logjam in Memphis, his arrival is adding to one in Dallas. The Mavericks have Aldama, P.J. Washington, Cooper Flagg and No. 9 pick Morez Johnson Jr. on their roster -- and all four players might be best suited for power forward.

Dallas' most important priority should be optimizing Flagg's development, but barring further moves, he's unlikely to spend much time at the 4 next season. That might not be a huge deal in the grand scheme of the Mavericks' future, but it's also not the best use of a rotation spot, either.

June 30: Raptors reunite with Leonard in trade with Clippers

Toronto Raptors get: F Kawhi Leonard
LA Clippers get: F Brandon Ingram, G Gradey Dick, two unprotected first-round picks, one pick swap, two second-round picks

Grade for Toronto: A-

What this means for the Raptors: When he's available, Leonard remains one of the NBA's best players. Remarkably, the 34-year-old seven-time All-Star averaged a career-high 27.9 points per game on a career-high usage rate last season. LeBron James is the only player in NBA history with a better box plus/minus at that age or older.

Leonard's offensive gifts have scarcely departed him despite his age and injury history. Since returning from an ACL tear that cost him the entire 2021-22 campaign, he has made 40.5% of his 3-pointers. For context, Stephen Curry's at 40.6% over the same span. And out of 60 players over the past four seasons with at least a 25% usage rate, Leonard ranks 10th in true shooting percentage, despite a difficult shot diet.

He is also the rare No. 1 option on offense who is equally adept on the other end, even if the two-time Defensive Player of the Year is no longer at his peak on every possession. Leonard still averaged 1.9 steals per game last season, a top-five mark in the league. The other players in the top five were all 25 years old or younger.

Grade for LA: B

What this means for the Clippers: The Clippers have quietly been stuck in the middle even more than Toronto. They haven't won a playoff series since 2021, and in all five seasons since, they've finished with a winning record but lost in the play-in round twice and the first round of the proper playoffs thrice.

In response to all that mediocrity, the front office has actively disassembled the team's core over the past couple of years. The Clippers' top 16 scorers from the 2022-23 team that won 51 games have all cycled off the roster. That exodus includes some departures via free agency (most notably Paul George), but mostly a succession of trades: of Russell Westbrook, then Norman Powell, then James Harden, then Ivica Zubac and now Leonard.

All of those transactions have wrought dramatic changes to the roster. The Clippers were the NBA's oldest team in each of the past three seasons, per Basketball Reference. But they should get much younger in a hurry, as they pursue a complete rebuild around the backcourt duo of Darius Garland and No. 5 pick Keaton Wagler. With Leonard gone, 38-year-old Brook Lopez and 32-year-old Kris Dunn are the only remaining Clippers in their 30s.

Read the full grade for the Leonard trade.

June 29: Grizzlies trade Morant to Blazers

Memphis Grizzlies get: F Jerami Grant, F Kris Murray
Portland Trail Blazers get: G Ja Morant

Grade for Portland: B-

What this means for the Trail Blazers: Ja Morant is a two-time All-Star and a Most Improved Player winner, who once ranked among the most electric young talents in the league. But there are several reasons that the 26-year-old guard was available for such a reasonable trade price -- so low that Portland didn't have to include picks in this deal.

Morant has been suspended multiple times in the past few seasons, most notably for displaying a firearm on an Instagram Live stream. He also underwent right shoulder surgery for a labral tear in January 2024.

And even when he has been available to play, Morant has faced major hurdles over the past few seasons that have kept him from reemerging as an elite offensive engine.

The first is Morant's lack of development as a shooter; his 3-point percentage peaked in 2021-22 at just 34%. His career 31% 3-point mark ranks 189th out of 194 active players with at least 1,000 attempts, per Stathead.

Players below him include Russell Westbrook and Giannis Antetokounmpo, who both have starred despite their unreliable 3-point strokes. But Westbrook and Antetokounmpo combined spectacular athleticism with dominant scoring near the basket, and Morant has also declined in those areas since his early peak.

Morant ranked among the league leaders in made baskets in the restricted area in 2021-22. That was an impressive feat because, according to GeniusIQ, every other player near the top of that leaderboard was a center or a big physical forward, such as Antetokounmpo and LeBron James. But Morant has made progressively fewer shots near the rim in every season since.

It is a massive question whether Morant can help the Trail Blazers, and if his potential can manifest again in stellar offensive production and All-Star-level play.

Though Portland hadn't been rumored to have interest in Morant before Monday, this destination makes sense for him. For large stretches of this past season, injuries left Portland without a point guard, and that had some strange effects. Forward Deni Avdija led the team in time of possession, for instance, and the Trail Blazers had the highest turnover rate in the league.

But now, the Trail Blazers will go for a bulk approach at point guard, with Morant, Damian Lillard, Scoot Henderson and Jrue Holiday all capable of playing the position, though trading Grant means they have almost no frontcourt depth. Other than the defensively sound, positionally malleable Holiday, those players don't make much sense playing together; there's not enough shooting or defense in that group.

But between their injury risks and potential further trades -- the Trail Blazers might be more comfortable trading Holiday for a star such as Jaylen Brown -- this logjam might not be as much of an issue as it appears. And if the Trail Blazers are eager to play Henderson off the ball, as he did while recording 59 shots and just six assists in the postseason, then Morant and Lillard could split point guard duties without too much difficulty.

The greater risk for the Trail Blazers might be how their new acquisition fits over the long term, even though they didn't have to surrender picks. At the 2026 trade deadline, the Wizards also didn't have to trade picks to acquire Trae Young -- but they turned a low-cost move into a high-cost maneuver by extending him for four years and $212 million.

That outcome seems unlikely in Portland, though; don't expect a Morant extension soon. Instead, wait to see if this move allows Morant to return to even a semblance of the stardom he once enjoyed in Memphis. It's not likely, but it's not impossible.

Grade for Memphis: B

What this means for the Grizzlies: Morant's standing had fallen so far in the league, his weaknesses growing more and more glaring, that it's not a surprise that the Grizzlies receive more in trade return. Instead, they dealt one undesirable contract for another, exchanging Grant's two-year deal for Morant's.

Grant had fallen behind Avdija and Toumani Camara in Portland's rotation. Grant can still score (18.6 points per game this past season) and make 3-pointers (39% last season), but his star has lost its luster as he has slipped defensively and suffered a litany of injuries. Grant hasn't played more than 63 games in a season since 2020.

Meanwhile, Murray, the No. 23 pick in the 2023 draft, has averaged 5.3 points in 188 games. It's difficult for a perimeter player to succeed as a 26% career 3-point shooter.

Looking ahead, Grant will make $34.2 million in 2026-27 and has a $36.4 million player option in 2027-28, while Morant is owed $42.2 million in 2026-27 and $44.9 million in 2027-28 on the maximum rookie extension he signed in 2022, right after the best season of his career.

That amounts to about $8 million in savings in each of the next two seasons for Memphis, assuming Grant picks up his option.

That's not a lot -- but frankly, it could be a win for Memphis not to have to give up draft capital to incentivize another team to take on Morant's deal and drama.

Morant's departure completes the teardown of what briefly appeared to be the best young core in the NBA, as the Grizzlies have traded Desmond Bane, Jaren Jackson Jr. and Morant over the past 12 months. That trio won 56 games in 2021-22 and 51 more in 2022-23, landing the No. 2 seed in the West both years, but won just one playoff series together.

The end of that era came with a whimper. Now, the Grizzlies can pivot to a future led by Cameron Boozer, Cedric Coward and Zach Edey, a new young trio to replace the former one.

June 28: Hornets deal Bridges, picks to Suns

Charlotte Hornets get: G Grayson Allen, F Royce O'Neale, 2033 unprotected first-round pick
Phoenix Suns get: F Miles Bridges, 2027 second-round pick (least favorable of Boston and Orlando), 2029 first-round pick (least favorable of Charlotte, Utah, Cleveland and Minnesota)

Grade for Charlotte: B+

What this means for the Hornets: Just a few days ago, the Hornets made the surprising decision to remove one member of last season's best five-man lineup, by trading LaMelo Ball to Minnesota. Apparently, they weren't done breaking up that band.

It makes sense to think of this trade as a natural follow-up to the Ball blockbuster, which brought Naz Reid to Charlotte along with draft capital, including an unprotected first-round pick in 2033.

Adding Reid gave the Hornets four big men with diverse skill sets, all of whom are either solid NBA players already (Reid and Moussa Diabate) or recent draft picks who need playing time (Ryan Kalkbrenner and Hannes Steinbach). All four are also younger than Bridges.

So with Reid's ability to play power forward, where he'll now start for the first extended stretch of his career, Bridges had lost his spot. And the Hornets cashed in by acquiring another unprotected first-round pick in 2033. That's reason enough to make this deal, especially because it came at the cost of a player with just one remaining season on his contract, whom the Hornets might not have wanted to extend.

It will also be interesting to see how much Allen and O'Neale are able to give the Hornets on the court, after Phoenix included them in this deal primarily for cost-cutting purposes.

Allen is coming off a season to forget: He made just 35% of his 3-pointers -- after finishing well above 40% in his previous two campaigns -- and missed part of Phoenix's playoff loss because of a hamstring strain. Given that he'll turn 31 years old before the start of next season, he's clearly on the downslope of his career. But if his shot bounces back to its typical level, he can still help a team that led the league in made 3-pointers last season, but has since lost Ball.

O'Neale, meanwhile, has been an available and serviceable role player for years. He hasn't missed more than seven games in any season since he was a rookie (2017-18), and he has made 41% of his 3-pointers on high volume over the past two seasons (39% in his career). He'll fit nicely on Charlotte's bench.

The Hornets probably wish they weren't paying that duo in the neighborhood of $30 million per year to come off the bench. But that's a price worth paying to add to their growing pick stash.

Grade for Phoenix: D+

What this means for the Suns: Here is a list of NBA players who have been traded for at least one unprotected first-round pick so far this summer: Giannis Antetokounmpo, LaMelo Ball and Bridges. Antetokounmpo is a two-time MVP. Ball is a former All-Star and Rookie of the Year who's still just 24 years old. Bridges, meanwhile, is a 28-year-old forward who has never come close to making an All-Star squad.

That makes for a strange use of an unprotected pick, for a team that already has very little draft capital: The Suns had previously traded their first-round picks in 2027, 2029 and 2031, and they'd traded swap rights in 2028 and 2030.

Until this week, they were unable to trade any further picks outright, due to the Stepien rule that prevents teams from trading first-round picks in consecutive drafts. But now that 2033 picks can go for sale -- teams can trade picks from up to seven drafts in advance -- the Suns got rid of theirs with the utmost haste.

In return, they acquired Bridges, who in 2022 was sentenced to three years of probation after pleading no contest to a felony domestic violence charge of injuring a child's parent. He didn't play in the 2022-23 season and was further suspended for the first 10 games of 2023-24.

Since his return, Bridges has put up box score stats, but his raw scoring totals (17.1 points per game last season) overstate his impact. Advanced stats rate him as a roughly average player.

Bridges will add size to a small Suns perimeter rotation, but there are a few problems with his fit on a winning team. The first is his defense; the Hornets have typically had a worse defensive rating with him on the floor versus when he's off.

Bridges is not a very active defender. He averaged just 1.2 steals plus blocks per 36 minutes last season, which ranked 248th out of 279 players with at least 1,000 minutes. Many of the players below him are offensive specialists, either on-ball stars (Jalen Brunson, Devin Booker, Zach LaVine) or knockdown shooters (AJ Green, Sam Hauser, Duncan Robinson). Bridges isn't.

Instead, he's only a 34% career 3-point shooter, which complicates his fit next to a non-spacing center. It's worth noting that in 978 minutes together in Charlotte, Bridges and center Mark Williams -- another former Hornet who's now starting in Phoenix's frontcourt -- had a subpar 111.6 offensive rating, per databallr (though the Hornets were generally terrible on offense in those seasons, with Ball so often injured).

One wonders whether the Suns have an overly optimistic view of Bridges because of his connection to Michigan State, where he played for two seasons before entering the NBA draft in 2018. Suns owner Mat Ishbia, coach Jordan Ott and general manager Brian Gregory all spent years at Michigan State; Gregory was a consultant for the program in 2016-17, Bridges' freshman year.

(That might be overstating the case somewhat, as the Suns were rumored to be interested in trading for Bridges as far back as the 2024 trade deadline. That was Bridges' first season after his suspension, and it was before Gregory and Ott joined the organization.)

The Suns also completed this trade with an eye on their cap sheet. Allen and O'Neale will make a combined $29 million in 2026-27 and $31 million in 2027-28 (assuming Allen exercises his player option). Bridges will make $22.8 million in 2026-27 before becoming a free agent next summer; he's eligible to sign an extension worth up to three years and $89 million before then, according to ESPN's Bobby Marks.

That amounts to some savings for the Suns, but only a small amount if they keep Bridges beyond next season -- certainly not enough to warrant the trade of an unprotected first-round pick and the opportunity cost of losing their best trade chip.

The 2029 first-rounder the Suns acquired in exchange -- reacquired, in a way, because they'd first sent Charlotte the rights to the least favorable pick among Utah, Cleveland and Minnesota in the Williams trade -- is much less valuable than an unprotected selection. The Hornets, Jazz, Cavaliers and Timberwolves would all have to miss the playoffs in 2029 for that pick to land in the lottery.

June 26: Pistons add Joe from Thunder for picks

Detroit Pistons get: G Isaiah Joe
Oklahoma City Thunder get: Two second-round picks (2030, 2031)

Grade for Detroit: A-

What this means for the Pistons: Detroit entered the offseason with two glaring weaknesses: secondary creation and shooting, both of which would bolster an offense that was too dependent on Cade Cunningham, without enough support around the All-NBA guard.

Joe won't do much to address the first of those two weaknesses, as he has never averaged more than 1.6 assists per game in a season and is much more of a play finisher than a playmaker.

But he's one of the best options in the league to address the second issue. The Pistons ranked 28th in made 3-pointers last season, with only Duncan Robinson (2.9 per game) and Cunningham (2.0) making more than 1.3 per game.

Joe, meanwhile, made 2.5 triples in just 21 minutes per game. He's a career 41% 3-point shooter, and he has reached that number with impressive consistency. In four seasons in Oklahoma City, his 3-point percentages have been 40.9%, 41.6%, 41.2% and 42.3%.

With an $11.3 million salary for 2026-27, as well as a team option for the same amount in 2027-28, Joe offers that production on a perfectly reasonable contract. His addition could mean the Pistons decide not to keep Robinson -- only $2 million of his $16 million salary is guaranteed -- so they have more financial flexibility to add another star-level scorer, or they could keep both shooters for significantly superior spacing around Cunningham.

Grade for Oklahoma City: B

What this means for the Thunder: Born exactly six months apart, Joe and Aaron Wiggins have a lot in common.

Both were long shots to make an NBA impact: Wiggins was the No. 55 pick in the draft, while Joe was the No. 49 pick before being waived by Philadelphia. But both wings developed into solid rotation players in Oklahoma City, averaging double-digit points in around 20 minutes per game, and both signed extensions that started in 2024-25 and declined over the course of their contracts.

Despite that production and value, both players fell to the fringes of Oklahoma City's postseason rotation, because the Thunder boast the NBA's deepest roster. And ultimately, both players were traded for two second-round picks apiece this summer: Wiggins to Atlanta, Joe to Detroit.

Like the Wiggins trade, the Joe deal is all about the money. Oklahoma City entered the offseason with a projected 2026-27 payroll of $557 million, including both player salaries and luxury tax payments.

But by trading both Wiggins' $9.0 million and Joe's $11.3 million -- and by declining Kenrich Williams' $7.2 million player option -- the Thunder will turn about $27.5 million in salary savings into a whopping $216 million in overall savings, because their tax bill shrinks by $189 million, according to ESPN's Bobby Marks.

The Thunder's updated payroll projection is now $341 million, which is still high, but nowhere near its previous peak. And while they might have cost themselves some regular season wins in the process -- because Wiggins and Joe are high-quality fill-ins when Oklahoma City's regulars miss games -- the elimination of some depth shouldn't move the needle much in the postseason.

At $18 million above the second apron, Oklahoma City might not be done. GM Sam Presti could pursue further transactions to duck below that threshold, such as dealing Luguentz Dort or trading recent draftees Nikola Topic and Thomas Sorber, now that the Thunder picked two more young players at their positions in the 2026 draft.

But if Presti had to cut payroll somehow, then he has done well so far to massage his team's finances while also adding draft capital, rather than having to attach picks to part with undesirable contracts. That's the value of long-term planning.

June 25: Hornets deal Ball to Wolves for Reid, picks

Minnesota Timberwolves get: G LaMelo Ball, F Josh Green
Charlotte Hornets get: F Naz Reid, 2033 unprotected first-round pick, three first-round pick swaps (2028, 2029, 2030), three second-round picks (2029, 2032, 2033)

Grade for Minnesota: D+

What this means for the Timberwolves: The Timberwolves had to make a choice last summer. Julius Randle, Naz Reid and Nickeil Alexander-Walker were potential free agents, and for all intents and purposes, the Western Conference finalists could keep only two. So Minnesota opted for size, re-signing power forwards Randle and Reid and letting the smaller Alexander-Walker leave for Atlanta.

Fast-forward a year, and it's clear the Timberwolves would like a mulligan on that decision: Alexander-Walker is the Most Improved Player winner, while both Randle and Reid are off the team entirely, after two blockbuster trades.

ESPN's Shams Charania reported Monday that Minnesota was sending Randle to Brooklyn in a three-team deal, and that transaction folded in a fourth team Thursday, with an addition that essentially swaps Ball for Reid and future picks.

Minnesota already had little draft capital remaining, as a result of trading for Rudy Gobert and Rob Dillingham in previous summers. The Timberwolves now don't control their own first-round pick in 2027, 2028, 2029, 2030, 2031 or 2033, and their 2032 pick is frozen due to second apron rules.

In other words, this is the last big swing the team can realistically take to build around Anthony Edwards, and to push past the Thunder and Spurs and other Western Conference contenders to actually reach the Finals, rather than stall out a round or two short. Is it enough?

Let's start with a positive frame. Despite the occasional foolish turnover or ill-advised off-balance 3-pointer, Ball is a tremendous offensive engine. He's a solid 3-point shooter on immense volume, an excellent passer and knows how to navigate a pick-and-roll. (He ranked second in the league in total pick volume last season, behind only Jalen Brunson, per GeniusIQ.)

Over the past two seasons, he ranked in the 99th percentile in on/off differential on offense, per Cleaning the Glass, as Charlotte's offense hummed with him on the floor and cratered without him.

According to both estimated plus-minus and xRAPM, which incorporate that on/off data, Ball ranks as one of the five best offensive players in the sport, in terms of per-possession impact. That's a meaningful addition to a team that has lacked playmaking ability ever since veteran point guard Mike Conley began to show his age.

With Edwards and Ball -- the Nos. 1 and 3 picks in the 2020 draft -- Minnesota now boasts one of the NBA's best backcourts. Add in Ayo Dosunmu, who's staying in Minnesota after signing a five-year, $112 million deal, and the Timberwolves have transformed their guard rotation from Edwards and question marks to an undeniable strength.

But now comes the negative side, with two overwhelming concerns. The first is Ball's availability, on which Minnesota is essentially staking its future.

Here are Ball's games played over the past four seasons, since he was an All-Star in Year 2: 36, 22, 47, 72. In that light, last season's 72 games played looks like an outlier -- and even then, the Hornets limited his minutes to just 28 per game to keep him fresh. It's possible Ball has turned the corner and will be healthier going forward, but that's a large gamble.

The second main drawback is what this trade does for Minnesota's roster balance. For as deep and dynamic as the backcourt now looks, the frontcourt appears equally barren, with two of Minnesota's three big men from last season leaving in the same trade.

The Timberwolves' depth chart now features Jaden McDaniels at small forward, Gobert at center and 19-year-old Joan Beringer at backup center -- but a big empty hole where the power forward should be. That's a major issue in a league in which size is once again becoming more important, and it's unclear if the Timberwolves have the resources to address it.

It's possible McDaniels could move up a position, but his greatest strength is his ability to stymie opposing guards. In the playoffs, he most frequently guarded Jamal Murray and De'Aaron Fox, according to GeniusIQ tracking; in the regular season, his most common matchups included bigger wings such as Kevin Durant and Kawhi Leonard, but more lead guards such as Murray, Shai Gilgeous-Alexander and Stephen Curry.

The Timberwolves could also try trading Donte DiVincenzo, who's out indefinitely after tearing his Achilles in the playoffs, for more size. But without attractive draft picks, it could be difficult to incentivize a partner team in that hypothetical deal.

Otherwise, Minnesota has only about $10 million to fill its last three roster spots -- after it signs second-round pick Isaiah Evans -- before reaching the second apron, where it's hard-capped as a result of aggregating players in this trade. That's nowhere near enough room to add the caliber of players it needs to round out a championship-worthy rotation.

For a while now, the Timberwolves have sought to use their scant remaining resources to add star power next to Edwards. And compared to missing on Durant and Giannis Antetokounmpo, Ball seems like a lesser prize. He's still just 24 years old, and if he remains healthy, his contract is fair value for a player with his offensive potential ($130.7 million over the next three seasons, or about 25% of the cap).

But in taking their final big swing on an injury-prone, defensively limited guard who fills one big hole but opens up another just as large, the Timberwolves might have locked themselves into an unwinnable situation. And now they have less flexibility than before, if they want another mulligan next summer.

Grade for Charlotte: B-

What this means for the Hornets: Minnesota isn't the only team breaking up a lineup that worked in the search for something greater: By trading Ball, Charlotte is removing the engine that catalyzed what was by far the NBA's best high-volume lineup last season. In 509 minutes, Ball, Kon Knueppel, Brandon Miller, Miles Bridges and Moussa Diabate outscored their opponents by 26.4 points per 100 possessions, with an eye-popping 134.9 offensive rating.

That lineup surged after the All-Star break, as the Hornets became every NBA nerd's favorite sleeper contender. Charlotte ended up missing the playoffs due to a play-in loss but finished the regular season with the league's eighth-best net rating (plus-4.9) -- two spots better, incidentally, than the Timberwolves.

Now the Hornets are making a significant change, rather than trusting a young group to continue growing together.

Taken on its own, this trade will make the Hornets worse next season, because despite their other exciting young talent, Ball was still their most important player. Their offense scored 123.2 points per 100 possessions with Ball on the court last season, per NBA Advanced Stats. That was better than the Nuggets' league-best rating. But the offense scored just 110.6 points per 100 possessions without Ball, which was equal to the Kings' 26th-ranked unit.

In return, the Hornets primarily gained optionality. Reid is a solid two-way player, if somewhat overpaid with four years and $103.4 million remaining on his contract. Between Reid, No. 14 pick Hannes Steinbach and incumbents Diabate and Ryan Kalkbrenner, the Hornets now boast a fascinating big man rotation, with a blend of skill sets that coach Charles Lee can spend the season exploring.

But the bigger draw for Charlotte is the money and picks involved. In addition to shedding Ball's contract in this deal, the Hornets created a $40.7 million trade exception, which is the largest in NBA history, according to ESPN's Bobby Marks.

They also added an unprotected first-round pick in 2033, which is now their most valuable future draft asset. They hold several other teams' first-round picks in 2027 and 2029, but those have some level of protection.

And while pick swaps have historically been less important than advertised because they don't often convey, they should be more valuable in the new draft system, where every lottery pick is drawn rather than just the top four. (One of the swaps will be a "swap of swaps," however, because Minnesota already owed a swap to a different team in 2030, and the Timberwolves might not even have a pick to swap in 2029, because they owe a top-five-protected pick to Utah.)

Is that future value sufficient to warrant slowing an up-and-coming contender's momentum, after the franchise's most exciting season in more than a decade? That's a trickier case to sell, and it requires trusting the front office: Nobody knows Ball better than the Hornets, so if they're choosing to sell high on the star guard after his healthiest season in years, it's worth wondering whether they know something the Timberwolves don't.

In the meantime, Charlotte can use Knueppel on the ball more, as the rising sophomore continues to develop at the NBA level. They can re-sign free agent Coby White to play on the ball, even if he's underqualified as a lead playmaker. (Editor's note: Shortly after this grade was posted, Charania reported that White intends to sign a three-year, $74 million with the Hornets.) And they can search for a different point guard of the future who's more reliable than Ball, making use of all their extra flexibility to target the right player at the deepest position in the league.

That route limits their potential to continue climbing up the standings next season, but it's a bet that might pay off over the long term.

June 24: Detroit sends Stewart to Memphis

Memphis Grizzlies get: Isaiah Stewart
Detroit Pistons get: Three second-round picks

Grade for Memphis: B+

What this means for the Grizzlies: Spiritually, Stewart might have always been destined to become a Grizzly. Few players in the current NBA embody the "grit 'n' grind" ethos more than the 25-year-old, who has never been afraid to get physical on the court.

In addition to providing that toughness for a fanbase bound to appreciate it, Stewart will serve two key roles for his new team. First, he's an elite rim protector: Stewart allowed opponents to shoot just 44% at the basket last season, per NBA Advanced Stats, which led all players with at least 100 shots defended. The previous season, he ranked second behind Chet Holmgren.

And second, Stewart will provide center insurance behind 7-foot-3 Zach Edey, who pairs immense potential with immense injury risk. Edey played just 11 games last season and has had multiple ankle surgeries in the past 12 months -- an especially worrisome sign for a center of his size.

By the end of last season, with Edey and Santi Aldama injured and Jaren Jackson Jr. traded, the Grizzlies had effectively run out of big men and were playing entire games down the stretch without anyone taller than 6-foot-9.

Stewart himself is only 6-foot-8, but he plays bigger and operates mainly as a center. His 3-point shot has never fully developed (33% last season on 2.1 attempts per game), which makes it difficult for him to play with a non-shooting big. But next to Aldama or No. 3 pick Cameron Boozer -- or even former Utah lottery pick Taylor Hendricks, who showed flashes last season after joining Memphis in the Jackson trade -- Stewart would function as a perfectly competent backup center, or as a fill-in starter when Edey misses time.

Stewart will make $15 million in 2026-27 and has another $15 million via a team option for 2027-28. That eight-figure sum might be too much for Detroit to bear -- more on that below -- but Memphis has plenty of room to absorb Stewart's salary while still retaining flexibility for other moves.

Given that the Grizzlies initially acquired three second-round picks from Detroit during the first round of the draft on Tuesday to move back from the No. 17 pick to No. 21, they effectively added Stewart in exchange for moving back four slots after the lottery. That's good value for a team in their position.

Grade for Detroit: B

What this means for the Pistons: Like with several other moves from contenders this month, the Pistons' motivation to trade Stewart is primarily financial. The salaries for Detroit's young core are growing more expensive: Cade Cunningham is now playing on a max extension, Jalen Duren is a restricted free agent this summer and Ausar Thompson is eligible for an extension.

Trading Stewart's $15 million salary without taking back any money in return bumps Detroit's room below the luxury tax to $75 million, according to ESPN's Bobby Marks. The Pistons could also operate as a cap space team with a few additional maneuvers, such as shedding Duncan Robinson, who has only $2 million of his $16 million salary guaranteed.

So it's almost unfair to give the Pistons a grade for this trade yet, as it's clearly the first domino in a series of moves designed to give the 60-win team a better chance at advancing further than the conference semifinals next season. It remains to be seen how they use their extra wiggle room.

But the Pistons are aiming, above all, for more financial flexibility: to re-sign Duren (who almost has to return at this point, despite his playoff struggles, given that the Pistons traded his backup), re-sign Tobias Harris and add more firepower next to Cunningham.

And while Stewart matched Detroit's ethos just as aptly as he will in Memphis, the Pistons might not miss him as much on the court. Analytics darling Paul Reed is overqualified as a third-string center -- either he or Oklahoma City's Jaylin Williams is the best third-stringer in the league -- and is signed to a nonguaranteed $5.6 million deal for 2026-27. Promoting him to second string would save Detroit nearly $10 million in the tradeoff.

Ultimately, taken on its own, this trade makes the Pistons worse, as they lost a positive contributor without adding anyone in return. But Detroit's front office deserves the benefit of the doubt -- that it has a plan in mind for what more impactful domino should fall next.

June 21: Wolves, Bulls, Nets complete three-way deal

Minnesota Timberwolves get: No. 33 pick (via Nets), Mouhamadou Gueye
Chicago Bulls get: Nic Claxton
Brooklyn Nets get: Julius Randle, No. 28 pick (via Timberwolves)

Grade for Minnesota: B

What this means for the Timberwolves: Two years after they acquired Randle and Donte DiVincenzo in exchange for Karl-Anthony Towns, Towns is an NBA champion while DiVincenzo is out with a torn Achilles and Randle is the subject of a salary dump. If it needed any further clarification, Minnesota definitely lost that blockbuster trade.

But focusing on how the Timberwolves landed Randle two years ago is a matter of the sunk cost fallacy, so let's focus on the present. Minnesota's side of this three-team trade is almost entirely motivated by finances. Randle is owed $33.3 million in 2026-27 and $35.8 million on a player option in 2027-28, as part of an extension he signed last summer.

By trading Randle in a deal involving the two teams with the most cap space in the league, the Timberwolves were able to shed that hefty salary without taking any guaranteed money back in return. They also had to drop just five spots in the draft to do so, even if the difference in "they traded a first-round pick for a second-round pick" overstates that gap.

The Timberwolves' new financial situation places them $42 million below the luxury tax line and $50 million below the first apron. It also gives them access to multiple exceptions they can use to sign players this offseason, as well as a $33.3 million trade exception they could use for a highly paid veteran who fits their roster better.

Step one with all of that extra space was re-signing Ayo Dosunmu, an unrestricted free agent after a positive post-deadline stint with the Timberwolves. Further upgrades are sure to come thereafter, because without Randle or the injured DiVincenzo, the Timberwolves' roster is still very incomplete.

Replacing Randle shouldn't be an insurmountable challenge. His departure opens up a starting slot for sixth man extraordinaire Naz Reid, with whom Rudy Gobert has a proven partnership -- the duo has a plus-9.1 net rating in more than 2,700 minutes together over the past three regular seasons, per databallr.

And while Randle averaged 20 points and 4.9 assists per game over two seasons in Minnesota, his notorious playoff struggles limited his team's upside. For the Timberwolves to make a run at their first Finals berth -- and to get past the Thunder and Spurs in the process -- they couldn't rely on Randle as their No. 2 option behind Anthony Edwards.

But the real problem is what happens once Reid moves to the starting lineup, because the Timberwolves were already relying on a tight playoff rotation, with little depth beyond their top seven or eight players. They'd better make good use of their extra money to round out a more supportive roster, because they're now down two good players from last year's group without adding any suitable replacements -- yet.

Grade for Brooklyn: C+

What this means for the Nets: Welcome back to New York, Julius Randle. The three-time All-Star's first stint in the city, with the Knicks, saw him play alongside a high-scoring veteran forward with trade value (Marcus Morris) and a bunch of young ball handlers (RJ Barrett, Immanuel Quickley, Frank Ntilikina and Dennis Smith Jr., among others), and he looks poised to repeat that experience, with Michael Porter Jr. as the forward with trade value and all of the Nets' 2025 draftees as the young guards.

In a league that no longer rewards tanking as it once did, thanks to new lottery rules, Randle carries extra value as a floor-raiser -- and the Nets, who don't even control their 2027 first-round pick, had might as well try to win some more games next season after losing 50-plus in each of the last three seasons.

In that respect, Randle's greatest ability is his availability. He has played in at least 69 games (or the equivalent in COVID-shortened seasons) in 10 of the past 11 seasons, ranking seventh in total games and eighth in total minutes in that span.

Randle's steady 20 PPG production should boost the Nets' 30th-ranked offense. And while he has never been the most efficient shooter, he's an underrated passer, which could relieve some pressure from the overtaxed group of young guards who struggled last season.

It's fair to wonder, though, what Randle's acquisition amounts to for Brooklyn, which will end up cutting out a major chunk of its cap space this summer to add a player without much value -- at least, on his current contract -- throughout the league. The Nets are still unlikely to be a playoff team next season, barring further meaningful upgrades, and the 31-year-old Randle will likely be well past his prime by the time the Nets are ready to contend.

Moving up five spots in the draft doesn't seem like a large enough difference to justify this trade on an opportunistic basis, either.

The Nets should be more interesting next season as a result of this trade. Randle and Porter form a fascinating forward combination. Day'Ron Sharpe deserves extra playing time, and should slot in as the Nets' starting center with Claxton gone. Multiple first-round picks will join the five first-rounders who already played for Brooklyn last season.

But does this trade make the Nets better, over the long run? It's hard to answer yes with much confidence.

Grade for Chicago: B-

What this means for the Bulls: Trading for Claxton is the first move of new executive vice president of basketball operations Bryson Graham's tenure, and it makes use of the Bulls' copious cap space to add an experienced center essentially for free. (Gueye played two games for Chicago last season, and is on a nonguaranteed deal for 2026-27.)

Claxton has two years left on a contract that declines year over year. He is owed $23.3 million in 2026-27 and $21.1 million in 2027-28, which ranks in the middle of the pack among starting centers. That fits Claxton's status as a middle-of-the-pack center.

Or, at least the Bulls hope he's still at that level. At his best, Claxton's calling card is his defense, but his metrics on that end have declined precipitously over the last few seasons, as he's largely toiled away in obscurity for an out-of-contention Nets squad.

Claxton averaged 2.5 blocks per game in 2022-23, when he received down-ballot Defensive Player of the Year votes. But he's tallied fewer blocks in every season since, down to 1.1 per game last season. At the same time, Claxton has allowed a higher field goal percentage at the rim every year.

Opposing FG% at Rim Against Nicolas Claxton

The Bulls' hope is surely that Claxton felt the effects of not playing an important game for years on end, and that he can reverse his decline in a new environment. (Given the Bulls' rebuild, however, it might be some time before Claxton plays an important game in Chicago, too.)

At 27 years old, Claxton is still theoretically in his prime, and he'll have the runway to grow alongside 21-year-old forward Matas Buzelis and whoever the Bulls select with the No. 4 pick on Tuesday. If North Carolina forward Caleb Wilson lands in Chicago, as ESPN's Jeremy Woo projects, then the Bulls would have a supersized, super-athletic frontcourt for their future -- befitting Graham's "SLAP" philosophy, emphasizing size, length, athleticism and physicality.

"SLAP" applies to Claxton, who has also been one of the NBA's best switching bigs in previous years. But he's a more limited player on the other end: He has never made more than five 3-pointers in a season, and he's a career 56% free throw shooter. He'll enjoy setting screens and rolling to the rim for Josh Giddey lobs, but likely not much else -- though his 3.7 assists per game last season represented a major career high, and hint at untapped playmaking potential.

The larger question about Claxton in Chicago is whether the Bulls would have been better off using their cap space to trade for negative-value contracts and acquire extra draft picks in the process. They are also no longer a threat to offer a large contract to Jalen Duren or Walker Kessler -- two younger, better centers than Claxton -- in restricted free agency.

Claxton might have come essentially for free, in terms of assets, but his arrival still comes with a meaningful opportunity cost.

Still, the Bulls have $31 million in remaining cap space even after adding Claxton, which gives them enough flexibility to take on a bad contract and an associated pick if they desire. And they didn't have any true centers on the roster after they traded Nikola Vucevic last season, so Claxton -- ironically, a polar opposite player stylistically from Vucevic -- fills a massive hole.

Taking on his contract into their cap space means it's fair to treat the Bulls' end of this three-team deal as if they were signing Claxton to a two-year, $44 million contract. That would be decent but not overwhelming value, and their grade here reflects that tradeoff.

June 21: Heat acquire Giannis in massive blockbuster

Miami Heat get: F Giannis Antetokounmpo, F Bobby Portis
Milwaukee Bucks get: G Tyler Herro, C Kel'el Ware, F Jaime Jaquez Jr., G Kasparas Jakučionis , 2026 first-round pick (No. 13), 2031 first-round pick, 2033 first-round pick, 2030 pick swap, 2033 second-round pick

Grade for Miami: B-

What this means for the Heat: The Miami Heat have a reputation as a destination for the stars -- but it has been quite a while since they actually landed one. The last time any Heat player finished higher than 10th in MVP voting was 2013-14, when LeBron James was the runner-up.

Since then, Miami's biggest acquisitions are Jimmy Butler III and lower-level stars such as Goran Dragic, post-prime Kyle Lowry and Terry Rozier (the less said about that transaction, the better). The Heat were routinely in rumors surrounding superstars but didn't turn those hypotheticals into reality.

That inability to close showed on the court. The Heat have reached 50 wins only once in 12 seasons since James left after the 2014 Finals, and they've been stuck in play-in territory four seasons in a row. Two Finals appearances in that span -- including one marvelous run as the No. 8 seed -- helped mask Miami's mediocrity, but this is a team that has been searching for a higher level for a while.

Grade for Milwaukee: B+ 

What this means for the Bucks: Antetokounmpo's departure closes the book on what is inarguably the greatest individual career in Milwaukee Bucks history. The former No. 15 pick is the franchise's leader in almost every major statistic: games, minutes, points, rebounds, assists, blocks, field goals and free throws. He has 56 triple-doubles for Milwaukee; no other Buck is even in double digits. He's a 10-time All-Star, two-time MVP and one-time Finals MVP, after scoring 50 points to close out the Bucks' first title in 50 years.

But it was long past time for both him and the team to move on. After years of unfortunate injuries (Khris Middleton in 2022), ill-fated transactions (the Damian Lillard trade) and wasted drafts (the last Bucks pick to make a real impact for the team was Donte DiVincenzo, who was drafted eight years ago), the Bucks were no longer a legitimate contender, even with Antetokounmpo still receiving MVP votes.

Over the past four seasons, 15 teams won at least one first-round series. The Bucks weren't one of them.

Read the full grade for the Antetokounmpo trade, plus league winners and losers. 

June 21: Hawks acquire G Wiggins from Thunder

Atlanta Hawks get: G Aaron Wiggins
Oklahoma City Thunder get: Two second-round picks (2030, 2032)

Grade for Atlanta: B+

What this means for the Hawks: Wiggins' acquisition continues a solid start to the offseason for Atlanta, which first extended CJ McCollum on a low-risk deal over the weekend. Wiggins also comes with low risk: He's on a good contract -- $9 million in 2026-27, $8.2 million in 2027-28 and $8.2 million on a team option in 2028-29 -- and the Hawks had to surrender only two far-off second-round picks to land him.

In Oklahoma City, Wiggins had fallen to the edges of the NBA's deepest rotation, but he should have a much greater impact in Atlanta. The Hawks have a splendid starting lineup but were frightfully thin by the end of last season; in their six-game playoff loss to New York, Jonathan Kuminga was their only bench player to average more than five points per game or make more than eight total shots all series.

Wiggins can do better than that: He has averaged 17 points per 36 minutes over the past three seasons while making 39% of his 3-pointers. That scoring ability should make him one of the first players off Quin Snyder's bench -- though it does raise further questions about 2024 No. 1 pick Zaccharie Risacher's place in Atlanta's rotation, if Wiggins earns more minutes on the wing.

The only factor dropping Atlanta's grade on this deal from an A to a B+ is uncertainty around Wiggins' true level. His numbers declined across the board in 2025-26 compared to the previous two seasons, most notably a true shooting percentage that was well above league average in 2023-24 (66%) and 2024-25 (60%) but fell below in 2025-26 (54%).

But even middling production would make Wiggins a relatively valuable contributor in Atlanta, given the inferior options he's replacing.

Grade for Oklahoma City: B

What this means for the Thunder: Wiggins is a solid player, but he'd become a luxury in Oklahoma City, where he was the 12th or 13th man in the rotation. While he helped raise the Thunder's floor in the regular season, serving as an effective fill-in when the players ahead of him were injured, he played just 75 minutes in the 2025-26 postseason.

When Wiggins received opportunities to prove he belonged in the Thunder's conference finals clash against San Antonio, the Spurs played him off the floor.

Still, Oklahoma City's decision to trade him is almost entirely motivated by finances, rather than his own play. In addition to removing the $9 million he's owed next season from their books, the Thunder will save a projected $61 million in luxury tax penalties with this trade, according to ESPN's Bobby Marks.

And because Wiggins is on an attractive contract, Thunder GM Sam Presti was able to acquire picks -- even less valuable second-rounders -- while shedding Wiggins' salary, rather than including picks to entice another team to trade for him.

Expect additional moves of this nature as the offseason continues and Oklahoma City seeks to further reduce its exorbitant tax bill, which stands at a projected $152 million.