Week 1 offseason update

With Free Agency starting on Monday, signaling a new beginning to another NBA season, and officially welcoming the 2025-2026 NBA season. Free Agency will start Monday, July 1st at 6:00 pm EST. Teams in the first and second apron will have some restrictions. Some include not having the availability to mid-level and non-tax exceptions that can be used to sign free agents. Teams also cannot take back more money in a trade, cannot acquire a player via a sign-and-trade, and cannot use pre-existing trade exceptions. Teams in the second apron cannot aggregate contracts in trade either. 

Another reminder is that the tax threshold is at $178.7 million this season as the salary cap increased by 10% from last year. The first apron is set at $195.9 million, and the second apron is set at $207.8 million. 

Without further ado, let’s get an update on how the beginning of free agency will look and what moves have already been made throughout the postseason. 

Late April 

• The Kings fired their General Manager, Monte McNair, and hired Scott Perry as his replacement. 
• Hawks fire their general manager, Landry Fields, and promote Onsi Saleh to the same position.
• Pelicans fire David Griffin and hire Joe Dumars to the same position as general manager. 

June 15th 

• The Magic traded 4 first-round picks, Cole Anthony, and Kentavious Caldwell-Pope for Desmond Bane. The first round picks are a 2025 Orlando pick, a 2026 Suns first-round pick, a 2028, and a 2030 unprotected Orlando pick. 

June 22nd

• The Rockets traded Jalen Green, Dillon Brooks, and the number 10 overall pick in the 2025 draft, and 5 second-round picks to the Phoenix Suns for Kevin Durant. 

June 23rd

• Khris Middleton exercised his $33 million player option for next season with the Wizards
• Daniel Gafford signed a 3-year $54 million extension to stay with the Mavericks 
• The Celtics traded Jrue Holiday to the Trailblazers for Anfernee Simons and second-round picks.

June 24th

• Matisse Thybulle will opt in to his $11.5 million player option with the Trailblazers. 
• The Wizards traded Jordan Poole and Saddiq Bey to the Pelicans for C.J. McCollum, Kelly Olynyk, and a future second-round pick. 
• The Nets get Terrance Mann and the #22 overall pick in the 2025 NBA draft, the Celtics get Georges Niang and a second-round pick, and the Hawks get Kristaps Porzingis and a second-round pick in a three-team deal. 
• Kyrie Irving declined his $43 million player option and signed a 3-year $119 million extension to stay with the Mavericks. 

June 25th 

• Fred VanVleet declined his $44 million player option and signed a 2-year $50 million extension to stay with the Rockets. 

June 27th 

• The Rockets will sign JaeSean Tate, Aaron Holiday, and Jeff Green to minimum deals to stay with the team. 
• Naz Reid signed a 5-year $125 million extension to stay with the Timberwolves. 
• Masai Ujiri will not be the president of basketball operations with the Raptors for the upcoming season 

June 28th 

• The Bulls traded Lonzo Ball to the Cavaliers for Isaac Okoro.
• Davion Mitchell signed a 2-year $24 million deal to stay with the Heat
• Sam Merrill signed a 4-year $38 million extension to stay with the Cavaliers. 
• The Thunder traded Dillon Jones and a second-round pick to the Wizards for Colby Jones. The Thunder then waived Jones. 

June 29th 

• Jaylin Williams signs a 3-year $24 million extension to stay with the Thunder.
• Lebron James opted in to his $52.6 million player option to stay with the Lakers. 
• Dorian Finney-Smith declined his $15.4 million player option and will test free agency. 
• Julius Randle will sign a 3-year $100 million extension to stay with the Timberwolves. 
• Duncan Robinson will decline his $20 player option and will work with the Heat on a new contract or explore other destinations.
• The Utah Jazz traded away Collin Sexton and a 2030 second pick to the Charlotte Hornets for Jusuf Nurkic 
• James Harden will decline his player option and return to the Clippers on a 2-year $81.5 million dollar contract 
• The Thunder decline Ajay Mitchell's team option and sign him to a 3-year $9 million deal to return to Oklahoma City.
• The New York Knicks are picking up the $2 million deal team option on Ariel Hukporki
• Eric Gordon decline his player option and will enter free agency 
• The Hawks decline Dominic Barlow's $2.2 million team option and he will enter free agency
• Bobby Portis will decline his player option and sign a 3-year $44 million deal to stay with the Bucks 
• The Rockets agreed to a 5-year $122 million rookie extension with Jabari Smith Jr.