The 2025 NBA Free Agency period provided one of the most eventful and unpredictable offseasons in recent memory. From blockbuster trades, including future Hall of Fame inductions, to signatures that change franchise and strategic re-signatures, the league-wide front office is working to reshape the roster. Early moves this summer have already changed the balance of power at both meetings, with the candidates loading into the title run and rebuilding the team by locking them with younger stars. Below we’ll break down the most important transactions to date and the signalling of the NBA landscape heading into the 2025-26 season.
Houston Rockets: Championship-level shake-up
This summer, the Rockets made the loudest noise this summer by acquiring Kevin Durant in the most complicated historic seven-team trade in NBA history. The deal also revived Clint Capella via Sign and Trade to bolster the frontcourt. They signed Dorian Finney Smith in a four-year, $53 million deal, retaining key contributors like Fred Vanbeat and Stephen Adams. With Title Contending Core currently in place, Houston’s salary could reach $195 million.
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Oklahoma City Thunder: Locked to MVP
Thunder secured the future by re-signing Shai Gilgeous-Alexander to its four-year, $285 million Supermax extension. In doing so, they will maintain OKC’s final final MVP, ensuring that the team’s trajectory remains upwards. They avoided spending at free agency and retained the flexibility of their future caps.
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Memphis Grizzlies: Big Blue Wall
Memphis has extended defensive cornerstone Jaren Jackson Jr. into a five-year, $240 million deal. The move remains one of the top interior defenders in the NBA, demonstrating a commitment to continuity and defensive identity.
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Milwaukee Bucks: Bold Caps and Tough Calls
In a big move, the Bucks abandoned Damian Lillard to clear their pay space and soon signed Miles Turner a four-year, $107 million contract. They also added major veterans such as Gary Harris, Gary Trent Jr., Bobby Portis, Jericho Sims and Taurian Prince to maintain the depth of competition.
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New York Knicks: Buying measured depths
The Knicks added Jordan Clarkson through the acquisition and signed Gershon Jabsere in a two-year, $12 million deal. These calculated moves will help improve bench scoring without committing long-term dollars and maintain roster flexibility after the Eastern Conference finals. And of course, they hope that signing a big buck with Coach Brown will have an impact similarly.
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Golden State Warriors: Strategic Decision
Golden State remains undecided with restricted free agent Jonathan Kuminga, who has fielded sign-and-trade offers from teams such as Miami and Chicago. The team also courtesy of Al Horford as a veteran big man, but has yet to be locked up in the deal.
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Atlanta Hawks: Veteran Boost
The Hawks signed Nickeil Alexander-Walker in a four-year, $62 million deal and added Luke Kennard on a one-year, $11 million deal. In combination with the addition of other role players, they aim to add firepower to their core.
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Denver Nuggets: Target Rotation Movement
Denver traded for Jonas Vallan. I served as a backup for Nicola Jokic, adding Tim Hardaway Jr. and Bruce Brown to provide shooting and experience to the bench unit.
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Winners and outlook overview
The Houston Rockets were the biggest winner of the summer and created a legitimate title contention roster. OKC and Memphis are locked to the Core Star with Smart Cap Planning. The Bucks brought about aggressive but dangerous changes, but the Knicks and Nuggets remained measured and cost-effective.
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