By Fred Katz | The Athletic, 2026-02-06 11:28:29
交易市场曾一度沉寂。太沉寂了。我们本该料到情况不会一直如此，NBA各支球队的管理层总能摸透他们所处的环境。
在本赛季的大部分时间里，联盟中的讨论都指向一个可能平淡无奇的交易截止日。最新的劳资协议（CBA）比以往的版本更具限制性。规则使得赛季中期的交易比以往任何时候都更难达成。
随着截止日的过去，可以肯定地说，新的交易模式已经出现。各支球队对昂贵合同的看重程度——甚至是那些与多次入选全明星球员挂钩的合同——比往年都要低。在奢侈税线或令人畏惧的“土豪线（aprons）”边缘徘徊的组织都在积极寻求避税。但有一个主题保持不变：在周四截止日前的72小时里，各队管理层接连不断地敲定了一笔又一笔交易。全联盟只有三支球队未能完成交易。
有些交易在无声无息中发生。有些震惊了篮球世界。有些则预示着球队发展方向的改变。
让我们来看看交易季是如何收官的，根据各支球队在截止日采取的方式，我们将所有30支球队分为八个类别：
彻底推倒 (Blown to Smithereens)
克利夫兰骑士
洛杉矶快船
孟菲斯灰熊
骑士队并没有完全推倒重建，但他们确实进行了大拆解。在上赛季赢得东部最佳的64场胜利后，他们目前仅排名第四。考虑到他们的投入——拥有全联盟最臃肿的工资单——这意味着必须进行洗牌。
克利夫兰必须为了4月、5月以及他们所希望的6月变得更强。这样做意味着要震惊全联盟，将26岁的老牌全明星控卫达里厄斯·加兰 (Darius Garland) 换成36岁的詹姆斯·哈登 (James Harden)。
加兰因挥之不去的脚趾伤势缺席了本赛季的大部分比赛。在球场上，他也一直没能展现出最好的状态。因此，骑士选择了出勤率更高、且能最大程度改变球队风格的中期强援。自从教练肯尼·阿特金森 (Kenny Atkinson) 上赛季接手以来，克利夫兰一直以快节奏和大量空切而自豪。而哈登打球很慢。他曾有名言：“我不是体系球员，我本身就是体系。”
那句话出自他2017-18赛季的MVP时期——他当时并没说错。哈登目前仍是一名充满活力的得分手，即便效率有所下降，他依然是世界上最狡黠的传球手之一。但只要哈登在场，进攻就得由他掌控。多诺万·米切尔 (Donovan Mitchell) 和骑士的其他球员需要适应这一点。
骑士全面增加了组织能力，将已经撤出首发阵容的侧翼德安德烈·亨特 (De’Andre Hunter) 送走，换来了老牌场上指挥官丹尼斯·施罗德 (Dennis Schröder) 和充满活力的后卫基翁·埃利斯 (Keon Ellis)。他们还清理掉了朗佐·鲍尔 (Lonzo Ball) 的合同。
他们翻新了阵容。
另外两支球队也采取了同样极端的做法，但方向相反。
灰熊队继续着“慢性拆解”。去年夏天，他们收到了一份无法拒绝的报价，其中包括四个首轮选秀权，换走了得分后卫德斯蒙德·贝恩 (Desmond Bane)。在续约前最佳防守球员小贾伦·杰克逊 (Jaren Jackson Jr.) 仅仅几个月后，他们也将杰克逊送走了——去往犹他爵士，换回了一堆年轻球员、老将和三个首轮签。
据联盟消息人士透露，他们留下了全明星球员贾·莫兰特 (Ja Morant)，尽管他们曾与其他球队讨论过他。孟菲斯不是那种为了交易而交易的组织。它在等待诱人的报价找上门来，就像对待贝恩和杰克逊那样，然后果断出击。对待莫兰特，他们采取了同样的方式。
快船队终于崩盘了——将哈登换成加兰和一个次轮签，这为全NBA最老的阵容之一注入了年轻血液。洛杉矶经历了6胜21负的开局，随后在20场比赛中赢下16场，但在胜率达到50%之前，他们决定先结束痛苦。通过送出大个子中锋伊维察·祖巴茨 (Ivica Zubac)，他们换回了丰厚的回报，包括2022年的首轮秀贝内迪克特·马图林 (Bennedict Mathurin)、一个2029年的首轮签，以及另一个在即将到来的选秀中可能高至前五顺位的首轮签。
快船未来多年都没有自己的首轮签。它还面临着NBA即将展开的调查。在输球太多的情况下，它转向了年轻人和选秀资产。
边角修补 (Editing Edges)
金州勇士
洛杉矶湖人
明尼苏达森林狼
纽约尼克斯
俄克拉荷马城雷霆
波特兰开拓者
这六支球队从具备竞争力到统治力不等，他们都进行了小规模的调整。
森林狼队签下了一名控卫，这是他们在截止日前最优先的任务。阿约·多松姆 (Ayo Dosunmu) 曾是芝加哥公牛队“最佳第六人”的潜在候选人，他的到来将填补去年夏天失去尼基尔·亚历山大-沃克 (Nickeil Alexander-Walker) 以及老将后卫迈克·康利 (Mike Conley) 高龄化所留下的空缺（康利本周也被交易走了）。多松姆能投篮，能持球创造机会，既能带替补也能搭档首发。
这支球队已经连续两年闯入西部决赛，并且依然具备攻防两端的精英水准，但进攻有时会变得过于忙乱。每隔一段时间，森林狼就需要一位组织者。为此他们送出了四个次轮签和前首轮秀罗布·迪林厄姆 (Rob Dillingham) 换来的多松姆，将是一个受欢迎的补充。
尼克斯在冲击东部冠军的征程中实现了两个目标：摆脱了去年夏天签下的那份令人后悔的盖尔雄·亚布塞莱 (Guerschon Yabusele) 两年合同，并引进了可以作为持球防守尖兵的副控豪塞·阿尔瓦拉多 (Jose Alvarado)。由于迈尔斯·“麦克”·麦克布莱德 (Miles “Deuce” McBride) 遭遇新伤，据联盟消息人士透露，他可能因运动疝气手术缺阵至季后赛，阿尔瓦拉多的作用将更加重要。
不知何故，尼克斯说服了远在轮换阵容之外的亚布塞莱放弃了2026-27赛季价值580万美元的球员选项。一旦他放弃，尼克斯就能将亚布塞莱交易至公牛，并仅用总计两个次轮签就从新奥尔良鹈鹕手里抢到了阿尔瓦拉多。
卫冕冠军雷霆队增加了一名额外的持球者——21岁的贾里德·麦凯恩 (Jared McCain)。虽然他第二赛季的表现有所下滑，但他仍是一名天赋异禀的得分手和出色的射手。
他们在截止日的动作，甚至包括一个看似无关紧要的选秀权交易，都预示着他们在考虑未来的财务状况，因为他们的工资单在未来几年势必会爆炸。这就是拥有这么多优秀球员的代价。麦凯恩的新秀合同还有三年（包括今年）。考虑到杰伦·威廉姆斯 (Jalen Williams) 和切特·霍姆格伦 (Chet Holmgren) 的顶薪合同明年生效，谢伊·吉尔杰斯-亚历山大 (Shai Gilgeous-Alexander) 的合同紧随其后，以及凯森·华莱士 (Cason Wallace)、吕冈茨·多尔特 (Lu Dort) 和赛亚·哈尔滕施泰因 (Isaiah Hartenstein) 今夏面临的重大合同决策，这一点至关重要。
勇士队终于结束了乔纳森·库明加 (Jonathan Kuminga) 的肥皂剧，用他换来了克里斯塔普斯·波尔津吉斯 (Kristaps Porziņģis)。如果后者能保持健康，将提供巨大帮助。如果能成真，波尔津吉斯和斯蒂芬·库里 (Stephen Curry) 在距离篮筐35英尺处打挡拆将具有毁灭性。
湖人队用一个次轮签和替补射手兼持球人盖布·文森特 (Gabe Vincent) 换回了卢克·肯纳德 (Luke Kennard)，后者是更高水平的替补射手和持球人。考虑到他们的长期目标，这基本上是他们能做出的最大动作了。由于勒布朗·詹姆斯 (LeBron James) 的合同即将到期，洛杉矶可以在今年夏天腾出巨大的薪金空间。
急需投篮能力的开拓者则用几个次轮签从亚特兰大老鹰手中撬走了维特·克雷伊奇 (Vit Krejčí)，这是一位合同极其廉价的三分高手。
安于现状的争冠者 (Content Contenders)
丹佛掘金
底特律活塞
休斯顿火箭
圣安东尼奥马刺
四支排名靠前的球队几乎没有动作。
掘金通过将亨特·泰森 (Hunter Tyson) 送往布鲁克林篮网，成功降至奢侈税线以下。火箭和马刺在竞争激烈的西部都没有动作，尽管原因各不相同。
火箭总经理拉斐尔·斯通 (Rafael Stone) 周四表示，球队的伤病情况（包括老将弗雷德·范弗利特 (Fred VanVleet) 和史蒂文·亚当斯 (Steven Adams) 的赛季报销）影响了他们按兵不动的决定。马刺队很年轻，目前排名西部第二，他们想看看这组球员在压力下的表现。
排名东部第一的活塞队也可以这么说。底特律周四做了一次调整，但有人认为他们送出的天赋比得到的更多——将2022年5号秀杰登·艾维 (Jaden Ivey) 送到公牛，换回了正处于令人失望赛季中的老牌射手凯文·赫尔特 (Kevin Huerter)，以及在即将到来的NBA选秀中向上移动几个顺位的能力。
也许赫尔特能在底特律找回手感，这又是一支寻求三分火力的球队。但也有一种可能，活塞在这笔交易中得到的最有价值筹码是那个选秀权——对于一支2月份排名第一的球队来说，这是一种罕见的举动，对于一支进度远超预期的年轻球队来说，这是一种奢侈。
保持沉默 (Silence)
迈阿密热火
密尔沃基雄鹿
新奥尔良鹈鹕
热火队的沉默震耳欲聋。他们没有交易来扬尼斯·阿德托昆博 (Giannis Antetokounmpo)。他们没有交易来莫兰特。他们谁也没换。迈阿密必须谨慎，以免破坏其2027年的薪金空间计划，或是在那之前交易巨星的希望。
雄鹿队，万一你还没听说，并没有交易走还在因右小腿伤势缺阵的阿德托昆博。现在，他们的排名将会下滑，希望获得一个高位选秀权，但这并不像听起来那么容易。首先，雄鹿和鹈鹕之间更好的那个首轮签将归老鹰所有。雄鹿只能拿到两人中较差的那个。其次，密尔沃基绝不是唯一一支有动力摆烂的球队。
鹈鹕队完全没有摆烂的动力，即使他们目前的负场数并列全联盟最多。他们在去年夏天交易走了2026年的首轮签，在截止日前只做了阿尔瓦拉多的那笔交易。他们所有的主要球员——以及某些情况下的大额合同——在下个赛季都将继续留在账面上。
避税一族 (The Tax Duckers)
波士顿凯尔特人
奥兰多魔术
费城76人
菲尼克斯太阳
多伦多猛龙
凯尔特人刚刚完成了一次近代历史上最巧妙的奢侈税闪避。去年夏天，他们还在第二土豪线以上。现在，经过一系列操作——三次独立的薪资清理（约什·米诺特 (Josh Minott)、泽维尔·蒂尔曼 (Xavier Tillman) 和克里斯·布歇 (Chris Boucher)）以及一笔安芬尼·西蒙斯 (Anfernee Simons) 换尼古拉·武切维奇 (Nikola Vučević) 的交易——他们的财务状况变得非常稳健。
问题在于他们是否也会在下赛季努力保持在税线以下。这样做可以避开超级奢侈税（repeater tax），从长期来看，这种税是难以负担的。
波士顿在做到这一切的同时，还解决了球场上的需求。武切维奇或许有缺陷，但排名东部第二的凯尔特人渴望一名中锋，现在他们拥有了一位经验丰富的7英尺大个。
凯尔特人在省钱的同时，还引进了急需的大个子，即前公牛中锋尼古拉·武切维奇。(Matt Marton / Imagn Images)
令人沮丧的魔术队送走了替补后卫泰尤斯·琼斯 (Tyus Jones) 以降至税线下。随着贝恩、保罗·班凯罗 (Paolo Banchero)、弗朗茨·瓦格纳 (Franz Wagner) 和杰伦·萨格斯 (Jalen Suggs) 的大合同接踵而至，奥兰多面临着严重的财务担忧。而且他们的成绩还不够好，无法支撑这些支出。如果魔术最终排名还在附加赛区间，他们将是今年休赛期值得关注的球队。
76人队送走了麦凯恩，他在一支充满年轻后卫的竞争性球队中找不到舒适区。当NBA最近宣布保罗·乔治 (Paul George) 因违禁物质检测呈阳性被禁赛时，奢侈税之神眷顾了他们。乔治25场的无薪禁赛为费城节省了近600万美元的薪金，让他们距离规避奢侈税仅一步之遥。
猛龙和太阳在交易掉非轮换球员以避税后，依然表现出色，超出预期。掘金也成功避税。（但他们更适合归入“安于现状的争冠者”那一类。）
双时间线转换 (Two-Timeline Turnpike)
印第安纳步行者
犹他爵士
华盛顿奇才
这三支球队目前战绩惨淡，但不想沉沦太久，选择提前开启休赛期操作。
步行者上赛季打进了总决赛，本赛季失去了球星泰瑞斯·哈利伯顿 (Tyrese Haliburton)，看到首发中锋迈尔斯·特纳 (Myles Turner) 签约雄鹿，陷入了过渡年。他们可能处于东部垫底，但不打算在下赛季全员健康后继续留在那儿。因此，他们本周找好了特纳的替代者。
步行者付出了两个首轮签、马图林和赛亚·杰克逊 (Isaiah Jackson) 换回了祖巴茨。这是一个冒险的提议，因为这相当于在赌球队的化学反应和氛围能在一年多的停滞后延续下去。当然，这正是球队在较弱的东部可以采取的尝试，在那里许多球队觉得只需要一两步动作就能实现飞跃。
奇才原本计划在今年夏天拥有大量的薪金空间，但他们现在就使用了这些空间，通过引进特雷·杨 (Trae Young) 和安东尼·戴维斯 (Anthony Davis) 来加速重建，得到这两位球员仅用了配平薪水的合同和一些受保护的选秀权。在致力于摆烂三年后，华盛顿下赛季将把几位高薪老将与年轻核心融合，年轻核心中还将包括一个2026年的高顺位选秀权。不要指望杨或戴维斯本赛季会踏上球场。奇才欠尼克斯一个前八保护的选秀权，他们坚决要保住它。
爵士采取了与奇才类似的举动，送出三个首轮签给灰熊换来了杰克逊。犹他的处境非常微妙，如果他们的首轮签跌至第九或更后，就会归雷霆所有。爵士目前的战绩是联盟倒数第六，但这个组织在不久前的摆烂过程中曾多次在伤病报告上做文章。在明年尝试带着杰克逊和劳里·马尔卡宁 (Lauri Markkanen) 竞争之前，他们是否还会再向底部俯冲一次？
大杂烩 (The Pu Pu Platter)
亚特兰大老鹰
达拉斯独行侠
夏洛特黄蜂
布鲁克林篮网
芝加哥公牛
五支球队的动作比较分散，这未必是坏事。像黄蜂这样的一些球队，达成了多个目标。
夏洛特已经拥有一众得分好手，他们又引进了今夏的非受限自由球员科比·怀特 (Coby White) 完成了升级。它还充当了凯尔特人和魔术的薪资卸载地。黄蜂还通过一笔价值投资从俄克拉荷马城换取了一个次轮签。
黄蜂在过去的一个半月里势头强劲，很有机会打进附加赛。原因之一是黄蜂目前与公牛并列第十，而公牛在某种程度上帮了他们。
公牛将怀特交易到夏洛特，如果换做其他球队，这看起来像是摆烂，但对于“附加赛最爱参与者”公牛来说却未必。芝加哥在截止日前进行了拆解。怀特走了。多松姆和武切维奇也走了。他们赌了一把艾维，他在今年夏天将成为受限制自由球员，并且发现自己处于一个比在活塞时好得多的境地。底特律正在赢球，很快就得付钱给年轻人了。而公牛今年夏天将拥有薪金空间。
他们在交易截止日期间换回了九个次轮签。但他们也做了一些奇怪的“赢在当下”动作，签下了即将到期的老牌大个子亚布塞莱和尼克·理查兹 (Nick Richards)。
老鹰队送走了特雷·杨，然后转向了他们认为有价值的交易。他们成了期待已久的“库明加下家”，用波尔津吉斯换来了他。他们还通过肯纳德和克雷伊奇收集了次轮签。
亚特兰大本赛季原本有着比附加赛垫底更高的期望，但它为下赛季保持了干净的薪金空间，并可能最终获得一个黄金选秀权（鹈鹕和雄鹿中更好的那个），来搭档杰伦·约翰逊 (Jalen Johnson) 等人。
独行侠关闭了后卢卡·东契奇 (Luka Dončić) 时代的另一个篇章，告别了戴维斯。他们计划围绕菜鸟超新星库珀·弗拉格 (Cooper Flagg) 和全明星后卫凯里·欧文 (Kyrie Irving) 建队，同时拥有更健康的财务状况和更多的选择权。
重建中的篮网把自己当作“清道夫”，帮助猛龙、掘金和凯尔特人避税，并在过程中增加次轮签。随后，布鲁克林结束了卡姆·托马斯 (Cam Thomas) 时代，在尝试交易他多年后，裁掉了这位得分第一的后卫。
死胡同 (The Road to Nowhere)
萨克拉门托国王
国王可能是NBA历史上第一支在清理薪资交易中反而多花钱的球队。这支拥有NBA最差战绩的球队一直在用微小的创口贴来掩盖伤口。而现在，它的财务问题变得更严重了。
萨克拉门托用其唯一的合同廉价且20岁出头的球员埃利斯作为甜头，才摆脱了去年夏天给施罗德的合同。在同一笔交易中，他们带回了亨特，而后者在过去的两个东家里都已经失宠。
这一举动为国王在2027年夏天腾出了430万美元的空间，但你知道在那之前是什么吗？2026年夏天。那是国王账单变成荒漠的时候。
亨特明年的薪水比施罗德高出1000万美元，届时国王这支预计会输掉63场比赛的球队可能会冲进奢侈税线——甚至可能触及土豪线。当然，他们会找到避税的方法，但这只是在他们失血过多时再贴上一张创口贴。国王可以裁掉并分期支付德马尔·德罗赞 (DeMar DeRozan) 的工资，但这会损害他们的长期灵活性（并实质上抵消了送走施罗德所创造的微小2027年空间）。他们可以为多曼塔斯·萨博尼斯 (Domantas Sabonis) 或扎克·拉文 (Zach LaVine) 找个新家，但可能需要搭上资产才能甩掉这些薪水。
这里的策略让人难以理解——顺便提一句，萨克拉门托在交易中还送出了一个次轮签。
由生成式人工智能翻译，译文内容可能不准确或不完整，以原文为准。
点击查看原文：What every NBA team's trade-deadline decisions tell us about the future
What every NBA team’s trade-deadline decisions tell us about the future
The trade scene had been quiet. Too quiet. We should have known it wouldn’t stay that way. NBA front offices tend to figure out their environments.
For most of this season, conversation around the league pointed to a potentially uneventful trade deadline. The latest collective bargaining agreement is more restrictive than its previous iterations. More than ever, the rules make it difficult to spin in-season trades.
With the deadline passed, it’s safe to say that new archetypes of trades emerged. Teams valued expensive contracts, even deals attached to multi-time All-Stars, less than they had in years. Organizations treading around the luxury tax or dreaded aprons enthusiastically sought to duck under them. But one theme remained: During the 72 hours leading up to Thursday’s deadline, front offices reeled off trade after trade after trade. Only three teams failed to execute one.
Some deals occurred in silence. Some shocked the basketball world. Some signaled a change in organizational direction.
Let’s take a look at how trade season wrapped up, splitting all 30 teams into eight categories, based on each one’s approach to the deadline:
Blown to Smithereens
Cleveland Cavaliers
LA Clippers
Memphis Grizzlies
The Cavaliers didn’t tear it down, but they did blow it up. A season after winning an Eastern Conference-best 64 games, they sit in fourth place. Considering their price tag — owners of the league’s bulkiest payroll — that meant a shakeup.
Cleveland had to get better for April, May, and, it hoped, June. Doing so meant shattering minds around the league and flipping 26-year-old All-Star point guard Darius Garland for the 36-year-old James Harden.
Garland has missed much of the season with a lingering toe injury. On the court, he hasn’t looked like the best version of himself. So the Cavs opted for the more available guy who will shake up their style as much as a midseason acquisition could. Since coach Kenny Atkinson took over before last season, Cleveland has prided itself on high pace and cutting aplenty. Harden plays slowly. He once declared, “I’m not a system player. I am a system.”
That bar was from his 2017-18 MVP days — and he wasn’t wrong. Harden remains a dynamic scorer, even if the efficiency has fallen off, and one of the world’s slyest passers. But when Harden is around, the offense runs through him. Donovan Mitchell and the rest of the Cavs will need to adapt.
The Cavs added playmaking across the board, swapping wing De’Andre Hunter, whom they had pulled from the starting lineup, for veteran floor general Dennis Schröder and sparkplug guard Keon Ellis. They salary-dumped Lonzo Ball.
They renovated their roster.
As did two other teams, who took drastic approaches in the other direction.
The Grizzlies continued a slow-burn demolition. Over the summer, they received an offer they couldn’t refuse, one that included four first-round picks, for shooting guard Desmond Bane. Only months after extending former Defensive Player of the Year Jaren Jackson Jr., they’re sending Jackson out, too — to the Utah Jazz for a smattering of young players, veterans and three first-round picks.
They held onto All-Star Ja Morant, whom they discussed with other teams, league sources said. Memphis isn’t the type of organization to trade a guy just to trade him. It waits for the enticing offer to come its way, like with Bane and with Jackson, and then pounces. It’s taken the same approach with Morant.
The Clippers finally combusted — flipping Harden for Garland and a second-rounder, which injects youth into one of the NBAs oldest squads. LA went from a 6-21 start to winning 16 of 20 to putting itself out of its own misery before it could even reach .500. It received a massive haul for its giant center Ivica Zubac, which included 2022 first-rounder Bennedict Mathurin, a 2029 first-round pick and another first-rounder that could climb as high as fifth in this upcoming draft.
The Clippers don’t control their own first-round pick for years to come. It’s facing an impending investigation from the NBA. And amidst too much losing, it turned to youth and draft capital.
Editing Edges
Golden State Warriors
Los Angeles Lakers
Minnesota Timberwolves
New York Knicks
Oklahoma City Thunder
Portland Trail Blazers
Six teams, ranging from competitive to dominant, made modest tweaks.
The Timberwolves landed a point guard, their top priority leading up to the deadline. Ayo Dosunmu was a sneaky Sixth Man of the Year candidate for the Chicago Bulls and will fill the void created with the loss of Nickeil Alexander-Walker last summer, along with the aging of veteran guard Mike Conley, whom they also traded this week. Dosunmu can shoot, create off the dribble, play with the bench and run alongside starters.
This team has reached two consecutive Western Conference finals and remains capable of elite play on both sides of the ball, but the offense can also turn too frenzied at times. Every once in a while, the Wolves require an organizer. Dosunmu — for whom they traded four second-rounders and former first-round pick Rob Dillingham — will be a welcome addition.
The Knicks accomplished two objectives in their quest to win the East: getting rid of Guerschon Yabusele, who they signed last summer to a regrettable two-year contract, and acquiring a secondary ballhandler who can also help as a point-of-attack defender, Jose Alvarado. Alvarado’s presence will be even more important with the new injury to Miles “Deuce” McBride, who could be sidelined until the playoffs with a sports hernia, league sources said.
Somehow, the Knicks convinced Yabusele, who was far from New York’s rotation, to decline a $5.8 million player option for 2026-27. Once he did, they were able to trade Yabusele to the Bulls and also grab Alvarado from the New Orleans Pelicans for a total of only two second-round picks.
The defending-champion Thunder added an extra ballhandler in 21-year-old Jared McCain, who’s had a down second season but is a talented scorer and silky shooter.
Their deadline moves, all the way down to a seemingly irrelevant draft-rights transaction, signal they are thinking about future finances with a payroll that is bound to explode in the years to come. Such is the curse of acquiring so many good players. McCain still has three years, including this one, remaining on his rookie-scale contract. It is essential with mega deals for Jalen Williams and Chet Holmgren kicking in next season, one for Shai Gilgeous-Alexander starting the following year and significant contract decisions coming this summer for Cason Wallace, Lu Dort and Isaiah Hartenstein.
The Warriors finally ended the Jonathan Kuminga saga, swapping him for Kristaps Porziņģis, who would help if he could stay on the court. If it ever materialized, Porzingis and Stephen Curry running pick-and-rolls together 35 feet away from the basket would be devastating.
The Lakers turned a second-round pick and Gabe Vincent, a bench shooter and ballhandler, into Luke Kennard, a superior bench shooter and ballhandler. This was about the biggest move they could make, given their long-term goals. Los Angeles can create massive cap room this summer, when LeBron James’ contract expires.
In dire need of shooting, the Trail Blazers swiped Vit Krejčí, a 3-point maestro on a bargain contract, away from the Atlanta Hawks for a couple of second-rounders.
Content Contenders
Denver Nuggets
Detroit Pistons
Houston Rockets
San Antonio Spurs
Four teams at the top of the standings did little or nothing.
The Nuggets dipped below the luxury tax, dumping Hunter Tyson to the Brooklyn Nets. Neither the Rockets nor the Spurs made moves inside the hyper-competitive West, though for different reasons.
Rockets general manager Rafael Stone said Thursday that the team’s injuries, which include season-ending ones to veterans Fred VanVleet and Steven Adams, played into their decision to stand pat. The Spurs are young, second in the West and want to see this group in the pressure cooker.
The Pistons, who sit atop the East, could say the same. Detroit made one move Thursday, but one could argue it offloaded more talent than it acquired, sending 2022 No. 5 pick Jaden Ivey to the Bulls in a deal that landed Kevin Huerter, a veteran shooter in the midst of a disappointing season and the ability to move up a few spots in the upcoming NBA draft.
Maybe Huerter finds his jumper again in Detroit, another squad on the prowl for 3-point help. But it’s also possible the best piece the Pistons earned in this trade is the draft pick, a rare type of move for a first-place team to make in February and a luxury for a young team that’s far ahead in its timeline.
Silence
Miami Heat
Milwaukee Bucks
New Orleans Pelicans
The Heat’s silence was loud. They didn’t trade for Giannis Antetokounmpo. They didn’t trade for Morant. They didn’t trade for anyone. Miami has to be careful, lest it disturb its plans for cap room in 2027 or hopes to trade for a megastar before then.
The Bucks, in case you hadn’t heard, did not trade Antetokounmpo, who is still out with a right calf injury. Now, they will sink in the standings, hoping to land a high draft pick, which won’t be as easy as it sounds. First, the best of Milwaukee’s and the New Orleans Pelicans’ first-rounder will go to the Hawks. The Bucks received the worst of the two selections. And second, Milwaukee is far from the only team with an incentive to tank.
The Pelicans have zero motivation to bottom out, even if they are tied for the most losses in the NBA. They traded away their 2026 first-round pick last summer and made only the Alvarado deal leading into the deadline. All of their major players — and in some cases, their major salaries — remain on the books into next season.
The Tax Duckers
Boston Celtics
Orlando Magic
Philadelphia 76ers
Phoenix Suns
Toronto Raptors
The Celtics just pulled off one of the most artful luxury-tax dodges in recent history. Over the summer, they were above the second apron. Now, after a flurry of moves — three separate salary dumps (Josh Minott, Xavier Tillman and Chris Boucher) along with an Anfernee Simons-for-Nikola Vučević swap — they are in a strong financial place.
The question will be if they try to stay below the tax next season, too. Doing so would fend off the repeater tax, which becomes untenable in the long term.
Boston did it all while addressing an on-court need. Vučević may have his flaws, but the second-place Celtics were aching for a center, and now they have a veteran 7-footer in the fold.
The Celtics saved money while also adding a much-needed big man in former Bulls center Nikola Vučević. (Matt Marton / Imagn Images)
The disheartening Magic dumped backup guard Tyus Jones to fall below the tax. Orlando has serious financial concerns moving forward with big contracts for Bane, Paolo Banchero, Franz Wagner and Jalen Suggs. And it hasn’t been successful enough to justify the expense. If the Magic finish around where they are now, in the range of the Play-In Tournament, they are a team to watch this offseason.
The 76ers offloaded McCain, who couldn’t find a comfort zone on a competitive team overflowing with fellow young guards. They received a kiss from the luxury-tax gods when the NBA recently suspended Paul George for testing positive for a banned substance. George’s 25-game, unpaid absence shaved nearly $6 million off Philly’s cap sheet, bringing it only one small move away from evading the tax.
The Raptors and Suns are hard-playing teams exceeding expectations after trading non-rotation players to dip below the tax. The Nuggets got out of the tax, too. (But they fit too well into the “Content Contenders” tier.)
Two-Timeline Turnpike
Indiana Pacers
Utah Jazz
Washington Wizards
Three teams are ugly today, but don’t want to be for long, choosing to conduct their offseason early.
The Pacers made the NBA Finals last season, lost star guard Tyrese Haliburton for this one, saw starting center Myles Turner sign with the Bucks and are mired in a gap year. They may be at the bottom of the East, but they don’t plan to be once healthy again next season. So, they acquired their replacement for Turner this week.
The Pacers dealt those two first-rounders, Mathurin and Isaiah Jackson for Zubac, a risky proposition, considering it’s a bet that chemistry and vibes will carry over from a more-than-one-year layoff. Of course, these are the types of chances teams can take in the weaker East, where plenty of organizations feel only one or two moves away from a leap.
The Wizards were set to have cap room galore this summer, but used it now instead, speeding their rebuild by adding Trae Young and Anthony Davis, who took just matching salary and some protected draft picks to acquire. After three years dedicated to the tank, Washington will mesh a couple of high-priced vets next season with its young core, one that will also include a high pick in 2026. Don’t expect Young or Davis to step on the court this season. The Wizards owe the Knicks a top-eight-protected pick and are determined to keep it.
The Jazz pulled a similar move to the Wizards, tossing three first-rounders to the Grizzlies for Jackson. Utah finds itself in a fascinating spot, with its first-round pick going to the Thunder if it falls to ninth or later. The Jazz own the league’s sixth-worst record, but this organization has futzed around with injury reports in not-so-distant past tanks. Might it have one more run to the bottom in it before it tries to compete more next season with Jackson and Lauri Markkanen?
The Pu Pu Platter
Atlanta Hawks
Dallas Mavericks
Charlotte Hornets
Brooklyn Nets
Chicago Bulls
Five teams were all over the place, which isn’t necessarily bad. Some, like the Hornets, checked various boxes.
Charlotte, already loaded with bucket-getters, upgraded with Coby White, an unrestricted free agent this summer. It also acted as a salary-dumping ground for the Celtics and Magic. The Hornets made a value play to nab a second-rounder from OKC.
Charlotte has surged over the past month and a half and stands a real chance to make the Play-In Tournament. And one reason is that the Hornets are tied with the Bulls for 10th place, which helped them out.
The Bulls traded White to Charlotte, which would seem like a tank-mode move if it were from anyone other than the Play-In Tournament’s favorite participants. Chicago stripped itself down leading into the deadline. White is gone. So are Dosunmu and Vučević. It took a chance on Ivey, who is a restricted free agent this summer and found himself in a far better situation than he had with the Pistons. Detroit is winning and will have to pay its young guys soon. The Bulls will have cap room this summer.
They netted nine second-round picks in deadline season. But they also made a couple of harmless moves that are still oddly win-now, adding expiring veteran big men Yabusele and Nick Richards.
The Hawks moved on from Trae Young, then turned to what they considered value plays. They turned into the much-awaited Kuminga team, receiving him for Porzingis. They gathered second-rounders for Kennard and Krejci.
Atlanta had higher hopes for this season than the bottom of the Play-In Tournament, but it has maintained a clean cap sheet for next season and could end up with a golden draft pick, the better of the Pelicans’ and Bucks’, to add to Jalen Johnson and Co.
The Mavericks closed another chapter in the post-Luka Dončić era, saying goodbye to Davis. They plan to build around rookie sensation Cooper Flagg and All-Star guard Kyrie Irving with cleaner finances and more optionality.
The rebuilding Nets used themselves as a dumping ground, helping the Raptors, Nuggets and Celtics get out of the tax while adding second-rounders in the process. Brooklyn then ended the Cam Thomas era, waiving the score-first guard after years of trying to trade him.
The Road to Nowhere
Sacramento Kings
The Kings might be the first team in NBA history to add money in a salary dump. The club with the NBA’s worst record keeps covering up battle wounds with tiny Band-Aids. And now, it has even greater financial concerns.
Sacramento used its one cheap, early-to-mid-20s player, Keon Ellis, as a sweetener to get out of the contract it handed Schröder last summer. In the same trade, it brought back De’Andre Hunter, who has fallen out of favor with his last two teams.
The move opens up $4.3 million of space for the Kings in the summer of 2027, but do you know what comes before then? The summer of 2026. That’s when the Kings’ books turn into a wasteland.
Hunter makes $10 million more than Schröder does next season, when the Kings, a team on pace to lose 63 games, could vault into the luxury tax — and maybe push up against the aprons. Surely, they will find a way to avoid the tax, but that will just be slapping on another Band-Aid as they bleed out. The Kings could waive and stretch DeMar DeRozan, which would hurt their long-term flexibility (and essentially eliminate the minimal 2027 cap space created by dumping Schröder). They could find new homes for Domantas Sabonis or Zach LaVine, but it may take attaching an asset to either to cut salary.
The strategy here is difficult to follow — and, oh by the way, Sacramento gave up a second-round pick in the trade, too.
By Fred Katz, via The Athletic