NBA free agency exploded right on schedule in July 2025, immediately reshaping rosters across the league. Teams wasted no time finalizing massive extensions, striking key trades, and securing crucial free agents. From reigning MVPs locking in future deals to championship contenders making bold moves, the opening days delivered non-stop action. This period is critical for teams aiming to build for immediate success or establish long-term foundations, all navigating the recently announced NBA salary cap figures.
Opening Days Ignite the Market
The frenetic pace of the 2025 NBA free agency period kicked off the moment the window opened. Activity was intense from late Monday through Wednesday, generating headlines daily. The league confirmed the official salary cap for the 2025-26 season at $154.647 million. This figure represents the anticipated 10% increase from the previous season, giving teams clarity on their spending power. This financial context set the stage for the flurry of transactions that followed.
Supermax Extensions and Star Commitments
Several of the league’s brightest stars secured their futures quickly. Reigning MVP Shai Gilgeous-Alexander reportedly agreed to a monumental four-year, $285 million supermax extension to stay with the Oklahoma City Thunder. This ensures OKC retains its cornerstone player as they build around their young core.
In Memphis, All-Star center Jaren Jackson Jr. was expected to sign a five-year, $240 million max extension with the Grizzlies. This move keeps a dominant defensive force and offensive threat paired with Ja Morant for the long haul. Minnesota also locked up its star forward, as Julius Randle reportedly agreed to a three-year, $100 million extension to remain with the Timberwolves. Across the border, the Toronto Raptors reportedly finalized a four-year, $104 million extension with big man Jakob Poeltl, solidifying their frontcourt.
Notable Early Signings and Returns
Beyond the max deals, many key veterans and rising players found new homes or re-signed. On Monday night, Dorian Finney-Smith headed to the Houston Rockets on a four-year, $53 million contract. The Rockets also brought back veteran center Clint Capela on a three-year, $21.5 million deal.
The Dallas Mavericks made a significant guard addition, agreeing to a two-year, $13 million deal with point guard D’Angelo Russell. Meanwhile, Ty Jerome joined the Memphis Grizzlies on a three-year, $28 million contract. Veteran sharpshooter Luke Kennard agreed to a one-year, $11 million deal with the Atlanta Hawks.
Several players opted to return to familiar surroundings. LeBron James confirmed he would exercise his $52.6 million player option for the 2025-26 season with the Los Angeles Lakers. James reportedly expressed his desire to compete for a championship while the Lakers simultaneously build for the future. Across town, James Harden is set to remain with the Clippers, reportedly signing a new two-year, $81 million deal after declining his previous option.
Other Monday agreements included Nickeil Alexander-Walker to Atlanta, Santi Aldama returning to Memphis, and Jordan Clarkson reportedly being bought out by Utah to sign with the Knicks. Brook Lopez departed Milwaukee after seven seasons, agreeing to a two-year, $18 million deal with the LA Clippers. The Milwaukee bucks were also active early, bringing back Gary Trent Jr. and Taurean Prince on multi-year deals.
Mid-Week Blockbusters Reshape Contenders
As the week progressed, more high-impact moves materialized, particularly affecting the landscape of the Western and Eastern Conferences.
Ayton to the Lakers
Perhaps the most talked-about move on Wednesday was center Deandre Ayton reportedly agreeing to terms with the Los Angeles Lakers on a two-year deal. Ayton had been bought out by the Portland Trail Blazers earlier in the week. The structure of his reported Lakers contract for the upcoming season totals $34 million. This consists of approximately $25.6 million from his buyout with Portland and an additional $8.1 million from the Lakers for his new deal. The second year is reportedly a player option. This acquisition immediately raises questions about the Lakers’ championship aspirations and how Ayton fits alongside LeBron James and Anthony Davis. His presence provides needed size and scoring in the paint.
Bucks Acquire Turner, Waive Lillard
In a significant Eastern Conference shake-up, the Milwaukee Bucks reportedly reached a four-year, $107 million agreement with center Myles Turner, arriving from the Indiana Pacers. This move directly preceded a major roster decision: the Bucks reportedly waived All-Star guard Damian Lillard. Milwaukee utilized the stretch provision in the Collective Bargaining Agreement (CBA) to clear the final three years and remaining $113 million on Lillard’s contract from their salary sheet. Acquiring Turner shores up their interior defense and shooting, demonstrating a shift in roster construction post-Lillard.
Other Key Wednesday Signings
Wednesday also saw other agreements finalized. Veteran guard Spencer Dinwiddie reportedly agreed to a one-year deal with the Charlotte Hornets. Guard Dante Exum agreed to a one-year deal to return to the Dallas Mavericks, providing backcourt depth.
Notable Trades During the Window
Free agency isn’t just about signings; trades also play a critical role in shaping rosters. The opening days saw several impactful deals. The Denver Nuggets reportedly acquired veteran center Jonas Valančiūnas from the Sacramento Kings in exchange for Dario Šarić. This gives the Nuggets a bruising center option. Denver also reportedly added sharpshooter Tim Hardaway Jr. and brought back championship-winning guard Bruce Brown.
Separately, the Nuggets traded forward Michael Porter Jr. and an unprotected 2032 first-round pick to the Brooklyn Nets for forward Cam Johnson. This is a surprising move involving a key piece of Denver’s championship team.
The Milwaukee Bucks were also involved in a trade, reportedly sending swingman Pat Connaughton and two future second-round picks (2031 and 2032) to the Charlotte Hornets for Vasa Micić. A sign-and-trade deal saw Duncan Robinson agree to a three-year, $48 million deal to join the Detroit Pistons, with Simone Fontecchio going to the Miami Heat.
Veteran guard Dennis Schröder agreed to a three-year, $45 million deal, joining the Sacramento Kings.
Pre-Free Agency Blockbusters Set the Stage
Even before the official free agency period opened, the league saw major trades that influenced the market. The most significant was the Phoenix Suns trading superstar Kevin Durant to the Houston Rockets. The package reportedly included Jalen Green, Dillon Brooks, and the 10th overall pick in the 2025 NBA Draft (identified as Khaman Maluach). This dramatically shifts the landscape for both franchises.
The Boston Celtics also initiated a roster refresh by trading Jrue Holiday to the Portland Trailblazers and Kristaps Porziņģis to the Atlanta Hawks. These moves signal a potential strategic shift for the reigning champions.
The Remaining Market
While a torrent of deals has already occurred, several notable names remain available. Damian Lillard, recently waived by the Bucks, is now a free agent, a surprising turn of events for a multi-time All-Star. Other prominent players reportedly available include Chris Paul, Jonathan Kuminga, and Quentin Grimes, among others. Their eventual landing spots could still impact the competitive balance of the league. The coming days and weeks will reveal how the rest of the dominoes fall, potentially leading to more unexpected signings and trades as teams finalize their rosters for the upcoming season.
Frequently Asked Questions
What are the major contract agreements from 2025 NBA Free Agency so far?
The initial wave of 2025 NBA Free Agency saw several star players sign massive deals. Reigning MVP Shai Gilgeous-Alexander reportedly signed a four-year, $285 million supermax extension with the Thunder. Jaren Jackson Jr. and Julius Randle also secured max or near-max extensions with the Grizzlies and Timberwolves, respectively. Key free agent signings include Myles Turner joining the Bucks for $107 million over four years and Deandre Ayton reportedly agreeing to a two-year, $34 million deal for the upcoming season with the Lakers after a buyout from Portland.
Why did the Milwaukee Bucks waive Damian Lillard?
The Milwaukee Bucks reportedly waived Damian Lillard shortly after agreeing to a significant contract with free agent center Myles Turner. This move appears to be a strategic salary cap decision. By utilizing the stretch provision allowed under the CBA, the Bucks can spread the remaining $113 million on Lillard’s contract across future years. This action immediately creates substantial salary cap space for the upcoming 2025-26 season, enabling them to acquire Turner and potentially make further roster enhancements.
How did the 2025 NBA salary cap change impact team spending?
The NBA officially set the 2025-26 season salary cap at $154.647 million, representing a 10% increase from the previous year. This rise provides teams with more flexibility to sign players to larger contracts and utilize exceptions. The increased cap directly facilitated the record-breaking extensions for players like Shai Gilgeous-Alexander and allowed teams like the Bucks to absorb significant new contracts like Myles Turner’s after waiving a high-salary player like Damian Lillard using the stretch provision.
Conclusion
The 2025 NBA Free Agency period kicked off with unprecedented speed and significant transactions. From superstar extensions like Shai Gilgeous-Alexander’s to unexpected moves like the Bucks waiving Damian Lillard after acquiring Myles Turner, the landscape of the league is already shifting dramatically. Deandre Ayton’s reported arrival in Los Angeles adds another intriguing element to the Lakers’ plans. With a 10% jump in the salary cap, teams had room to maneuver, resulting in a cascade of signings and trades. As the dust settles on the initial wave, all eyes remain on the remaining free agents and potential future trades that could further alter the path to the 2026 NBA Finals.
