[ESPN] NBA休赛期看点：关注勒布朗、里夫斯、扬尼斯及更多动态

ESPN · 2026 年2 月 19 日 14:10

By Bobby Marks | ESPN, 2026-02-19 20:43:00

哪些球员、球队和故事线将主导这个NBA休赛期？

扬尼斯·阿德托昆博 (Giannis Antetokounmpo) 与密尔沃基雄鹿队之间拉锯战的下一步进展位居榜首。洛杉矶湖人队的阵容前景也同样引人关注，其中包括勒布朗·詹姆斯 (LeBron James) 和奥斯汀·里夫斯 (Austin Reaves) 重大的自由球员决定。放眼全联盟，许多球队都将面临可能改变NBA格局的抉择。

我们将深度剖析今夏最受关注的10个问题，包括处于十字路口的超级巨星、顶级自由球员和交易目标，以及为什么6月的选秀对几支乐透球队至关重要。

扬尼斯的拉锯战会推迟休赛期的动作吗？

答案可能取决于雄鹿队今夏选择的发展方向。

“我想随密尔沃基雄鹿队夺冠，”阿德托昆博在全明星周末期间告诉 ESPN 的马利卡·安德鲁斯 (Malika Andrews)，“如果这不在考虑范围内，也许我不得不做出改变，因为我真的很想赢。”

自2016年以来首次进入乐透区，雄鹿队将在其可交易资源清单中增加一个宝贵的2026年选秀权。密尔沃基还可以交易2031年和2033年的首轮签，并可以交换2031年、2032年和2033年的选秀权。能否说服阿德托昆博在秋季签署续约合同，可能取决于6月的选秀顺位，以及球队是否计划在交易中使用这些选秀权。

通过自由市场进行补强可能会更加困难。密尔沃基今夏有9名自由球员，其中5名拥有球员选项：凯文·波特 (Kevin Porter Jr.)、加里·特伦特 (Gary Trent Jr.)、加里·哈里斯 (Gary Harris)、托里恩·普林斯 (Taurean Prince) 和杰里科·希姆斯 (Jericho Sims)。由于雄鹿队在去年休赛期签下了中锋迈尔斯·特纳 (Myles Turner)，并且在裁掉达米安·利拉德 (Damian Lillard) 并使用延伸条款后，在2029-30赛季前每年仍需支付其2020万美元，预计雄鹿今夏将超出工资帽。

除了在交易中使用特纳、凯尔·库兹马 (Kyle Kuzma) 或博比·波蒂斯 (Bobby Portis) 的合同外，密尔沃基将拥有1510万美元的非纳税人中产特例、550万美元的双年特例以及底薪特例来签下球员。

雄鹿队在交易截止日前曾探讨过关于阿德托昆博的交易，如果有迹象表明他不再致力于长期留队，他们可能会再次这样做。出于多种原因，阿德托昆博的交易市场应该会在今夏扩大。

在交易截止日受限于可交易选秀权的球队，从选秀之夜开始将有更多的选秀权可用。例如，湖人队的可交易首轮签将从1个增加到3个。迈阿密热火队将有最多4个首轮签可供交易，而不是截止日前的2个。纽约尼克斯队将从0个增加到2个。

更重要的是，当一支球队在季后赛过早出局时，管理层总会有一种紧迫感。休斯顿火箭队和奥兰多魔术队在上赛季首轮被淘汰，随后分别交易得到了凯文·杜兰特 (Kevin Durant) 和德斯蒙德·贝恩 (Desmond Bane)。如果尼克斯队或克利夫兰骑士队遭遇类似的季后赛命运，他们会选择为阿德托昆博全力以赴吗？

我们今夏可能看到扬尼斯交易的其他原因包括：

签署了新秀续约合同的球员，如魔术队的保罗·班凯罗 (Paolo Banchero) 和火箭队的贾巴里·史密斯 (Jabari Smith Jr.)，其合同中将不再有职位限制。从7月1日开始，共有9名球员的此类限制将被移除。
与常规赛相比，球队将被允许送出或接收更多的合同。休赛期的阵容名单规模将从15人扩大到21人。
球队将拥有更多的财务灵活性，因为第一和第二土豪线水平预计将提高7.3%。

勒布朗·詹姆斯下赛季会在哪里？

上周，在成为NBA历史上拿到三双最年长的球员后，41岁的詹姆斯讨论了一个可能决定这位NBA历史得分王在联盟效力多久的关键因素。

“我的比赛水准不会消失，只是身体的问题，”在全明星赛前湖人击败达拉斯独行侠队后，詹姆斯告诉记者。“（但是）我还能对这个过程保持多久的热爱？”

“因为这一直是我的动力。如果我不能继续热爱这个过程，那么如果（我的精神投入）消失了，我的身体也会垮掉。一旦我的身体不行了，那就结束了。”

令人惊叹的是，职业生涯每个赛季场均至少出战33分钟并得到20分的詹姆斯，有望将这一纪录延续到第23个年头。

詹姆斯第24个赛季的选择？今夏，这位准自由球员可以：

回归湖人队
签约一支争冠球队
退役

与洛杉矶重新签约将意味着比他目前5260万美元的薪水大幅缩减。但是，预计今夏很少有竞争对手拥有薪资空间。例如，骑士队、丹佛掘金队和尼克斯队可能只能为勒布朗提供老将底薪特例。

湖人队将如何继续围绕卢卡·东契奇建队？

自从2025年2月交易得到卢卡·东契奇 (Luka Doncic) 以来，湖人队一直按照两条时间线运行：勒布朗的和卢卡的。

“现在拥有选择权对我们即将到来的休赛期确实是一件积极的事情，”篮球运营副总裁罗伯·佩林卡 (Rob Pelinka) 在今年2月5日的交易截止日后表示。

今夏，球队的首要任务是续约里夫斯，他可能会拒绝2026-27赛季价值1490万美元的球员选项，以寻求长期续约。

在圣诞节左小腿受伤之前，里夫斯场均贡献职业生涯最高的26.6分，投篮命中率超过50%。（在回归后的五场比赛中，里夫斯在仅25.4分钟的上场时间内场均得到20.0分。）“我已经说过一百万次了。我想留在洛杉矶。我爱这里，”里夫斯在11月告诉 ESPN 的戴夫·麦克梅纳明 (Dave McMenamin)。

“尽管之前的续约合同被拒绝了，但这并不意味着我正试图追求一个不合情理的巨大数字。我想留在这里；我想赢。”

湖人队、芝加哥公牛队和布鲁克林篮网队是拥有足够消费能力为里夫斯提供丰厚合同的球队。但正如雄鹿队上赛季裁掉并延伸利拉德合同时所展示的那样，没有薪资空间的球队也有办法制造出薪资空间。

由于里夫斯拥有2090万美元的自由球员预留空间（Cap Hold），湖人队今夏最多可以拥有5000万美元的薪资空间，为全联盟最高。然而，为了腾出这个空间，洛杉矶需要放弃阵容中的每一位自由球员——包括勒布朗。

除了詹姆斯和里夫斯，还有哪些自由球员值得关注？

佩顿·沃特森 (Peyton Watson) 和科林·吉莱斯皮 (Collin Gillespie)。

以沃特森为例，丹佛未能在赛季前与其达成续约，这可能会让他们付出高昂代价。

“考虑到新的劳资协议（CBA）和第二土豪线之类的东西，（掘金队）想要避开这些，”沃特森在10月告诉《丹佛邮报》，“作为一门生意，你必须根据最有利于业务的方式来运作。当明年夏天我需要做决定时，我也必须像经营生意一样考虑自己。”

沃特森今夏是受限制自由球员，这允许丹佛匹配任何报价单。预计掘金队下赛季将低于第二土豪线360万美元。

沃特森在1月被评为西部周最佳球员，本赛季他的得分和投篮效率均创下生涯新高。在39场首发中，他场均得到17.5分，投篮命中率为50.4%，三分命中率为41.7%。

与此同时，吉莱斯皮的表现已经超出了他与太阳队签订的一年230万美元的合同。

他在2月3日战胜波特兰开拓者队的比赛中砍下职业生涯最高的30分，并且本赛季有16场比赛至少送出6次助攻。根据 Cleaning the Glass 的数据，当吉莱斯皮在场时，太阳队每百回合净胜4.8分。

吉莱斯皮有资格与菲尼克斯签下一份为期四年、价值6660万美元的合同。因为他拥有早期伯德权，合同必须至少为两个赛季（不包括选项）。

至于自由球员级别的其他成员，以下是值得关注的主要名字：

全明星级别： 勒布朗·詹姆斯、杰伦·杜伦 (Jalen Duren)（受限制）、奥斯汀·里夫斯、詹姆斯·哈登 (James Harden)（球员选项）
顶级首发级别： 特雷·杨 (Trae Young)（球员选项）、吕冈茨·多尔特 (Lu Dort)（球队选项）、德雷蒙德·格林 (Draymond Green)（球员选项）、沃克·凯斯勒 (Walker Kessler)（受限制）、诺曼·鲍威尔 (Norman Powell)
首发级别： 佩顿·沃特森（受限制）、内米亚斯·克塔 (Neemias Queta)（球队选项）、科林·吉莱斯皮、德安德烈·艾顿 (Deandre Ayton)（球员选项）、哈里森·巴恩斯 (Harrison Barnes)、科比·怀特 (Coby White)、米切尔·罗宾逊 (Mitchell Robinson)、约翰·科林斯 (John Collins)、塔里·伊森 (Tari Eason)（受限制）、八村垒 (Rui Hachimura)、托比亚斯·哈里斯 (Tobias Harris)、凯文·波特（球员选项）、赛亚·哈尔滕施泰因 (Isaiah Hartenstein)（球队选项）、杰登·艾维 (Jaden Ivey)（受限制）、CJ·麦科勒姆 (CJ McCollum)、克里斯塔普斯·波尔津吉斯 (Kristaps Porzingis)、弗雷德·范弗利特 (Fred VanVleet)（球员选项）、尼古拉·武切维奇 (Nikola Vucevic)、扎克·拉文 (Zach LaVine)（球员选项）、安德鲁·维金斯 (Andrew Wiggins)（球员选项）和马克·威廉姆斯 (Mark Williams)（受限制）

为什么接下来的两个月对于争夺乐透顺位的球队如此重要？

我们已经密切关注2026年选秀班级很长时间了，这一届拥有历史上极强的大学新生群体，构成了近年来最深厚的乐透潜力股。达林·彼得森 (Darryn Peterson)、AJ·迪班萨 (AJ Dybantsa) 和卡梅伦·布泽尔 (Cameron Boozer) 长期以来一直是头牌人物。同届新生卡莱布·威尔逊 (Caleb Wilson)、金斯顿·弗莱明斯 (Kingston Flemings)、基顿·瓦格勒 (Keaton Wagler)、内特·阿门特 (Nate Ament)、大流士·阿库夫 (Darius Acuff Jr.) 和米克尔·布朗 (Mikel Brown Jr.) 目前占据了我们排名的前九。

交易截止日放大了犹他爵士队、华盛顿奇才队和印第安纳步行者队等球队的赌注，由于他们的首轮选秀权带有保护条款，他们可能会在乐透之夜面临命运的考验。这些球队输掉比赛的原因很明显：最大限度地提高保留选秀权的机会。

这次令人兴奋的选秀背后的潜台词是，NBA球队对2027年和2028年的选秀班级并不那么看好，尽管他们继续在国内和国际上搜寻人才。现在将其视为定论还为时过早，但那些年份的选秀似乎缺乏标杆级的明星力量。华盛顿和犹他等长期陷入困境的球队准备在下赛季向前迈进，这并非巧合。在2026-27赛季，输球的动力只会更小。

这种认知让2026年乐透签显得更有分量，这一届的顶级球员代表了许多球队获得改变球队命运人才的最明确机会。—— 杰里米·伍 (Jeremy Woo)

老将续约会影响2027年的自由球员级别吗？

分析阿德托昆博和詹姆斯的后续动态为我们提供了今夏显而易见的看点。但有资格签署老将续约合同的球员将扮演更重要的角色，不仅是在今年夏天，还包括2026-27赛季的交易格局。

从总决赛结束后的第二天开始，一批全明星球员将获得续约资格：

尼古拉·约基奇 (Nikola Jokic)、科怀·伦纳德 (Kawhi Leonard)、卡尔-安东尼·唐斯 (Karl-Anthony Towns)、德雷蒙德·格林、特雷·杨、拉梅洛·鲍尔 (LaMelo Ball)、贾·莫兰特 (Ja Morant)、泰勒·希罗 (Tyler Herro)、锡安·威廉姆森 (Zion Williamson)、泰瑞斯·哈利伯顿 (Tyrese Haliburton)、帕斯卡尔·西亚卡姆 (Pascal Siakam) 和多曼塔斯·萨博尼斯 (Domantas Sabonis)。约基奇去年夏天出于财务原因跳过了签署为期三年的续约合同，而不是因为他对丹佛的阵容建设方向感到不满。一年后，他可以从2027-28赛季开始最多续约四个赛季。

除了约基奇，多诺万·米切尔 (Donovan Mitchell)（7月7日）、安东尼·爱德华兹 (Anthony Edwards)（7月8日）、杰伦·布朗 (Jaylen Brown)（7月26日）、安东尼·戴维斯 (Anthony Davis)（8月6日）和斯蒂芬·库里 (Stephen Curry)（8月29日）也将在休赛期的某个时间点获得续约资格。（由于38岁规则，库里和伦纳德可以额外续约两个赛季。）

维克托·文班亚马将成为下一位2.5亿美元球员。哪些新秀续约候选人可能加入他的行列？

文班亚马 (Wembanyama) 的下一份合同几乎不需要谈判。

在7月6日或之后，圣安东尼奥马刺队和他们的当家球星将达成一份预计为期五年、价值2.52亿美元的顶薪续约协议。合同将包含最佳阵容、年度最佳防守球员和MVP相关的奖金条款，如果他在2026-27赛季达到标准，合同总额可能会增加到3.033亿美元。由于文班亚马在2024-25赛季没有获得联盟荣誉的资格，因此即便他本赛季达到了标准，他在续约合同的第一年也没有资格拿到工资帽30%的薪水。

距离圣安东尼奥近200英里的休斯顿，火箭队的阿门·汤普森 (Amen Thompson) 可能会加入文班亚马的行列，成为今夏第二位签署新秀顶薪续约合同的球员。汤普森的得分、助攻和投篮命中率均创下职业生涯新高，而且当他在场时，火箭队每百回合的表现要好5分。

其他著名的续约候选人包括布兰登·米勒 (Brandon Miller)、奥萨尔·汤普森 (Ausar Thompson)、卡森·华莱士 (Cason Wallace)、德里克·莱夫利二世 (Dereck Lively II) 和布兰丁·波杰姆斯基 (Brandin Podziemski)。

金州勇士队在这个休赛期会发生什么？

交易截止日两天后，总经理小迈克·邓利维 (Mike Dunleavy Jr.) 明确表示，金州勇士队拥有在夏季进行补强的资源。“我们有筹码进行交易，”他说。

“我认为只有当我们送走了资产、年轻球员以及所有你需要用来换取伟大球员的东西时，我们才会退出竞争。我们依然拥有这些。我认为这就是为什么（克里斯塔普斯·波尔津吉斯）的交易对我们来说非常好，类似于去年的吉米·（巴特勒三世 (Jimmy Butler III)）。我们觉得我们没有付出太多。我们依然有足够的火力继续前进并完成更多交易。”

邓利维指的是勇士队的四个首轮选秀权，以及在未来七年内交换选秀权的权利。（他们欠达拉斯2030年的首轮签，但仅限于选秀权在前20顺位之外的情况。）

在任何交易谈判中可能阻碍勇士队的是可用于交易的合同。虽然金州勇士队远低于土豪线，可以吸收薪水，但其三位薪水最高的球员要么是非卖品（库里），要么受伤（巴特勒），要么可能是自由球员——格林在2026-27赛季拥有2770万美元的球员选项。

勇士队确实拥有前首轮秀摩西·穆迪 (Moses Moody) 和波杰姆斯基合计1800万美元的合同。如果波尔津吉斯同意，他也可以在先签后换中被送走。

除了阿德托昆博，还有哪些身背合同的球员值得关注？

我们可能会在今夏的交易讨论中看到续约资格球员带来的连锁反应。

例如，洛杉矶快船队是否会继续他们的年轻化进程，并探讨交易全明星科怀·伦纳德？在截止日前的两笔独立交易中，快船队获得了前乐透秀达里厄斯·加兰 (Darius Garland)、本内迪克特·马图林 (Bennedict Mathurin)、赛亚·杰克逊 (Isaiah Jackson) 和两个首轮签。

“我们只是想变得更年轻，”伦纳德在交易截止日后说，“我们在开始这一年时拥有最老的阵容。对他们来说，尝试获得一些资产并为未来做准备是有道理的。2027年有望迎来一个选秀大年。他们必须做对他们最有利的事情。”

34岁的伦纳德下赛季将赚到5030万美元，这是他与快船队合同的最后一年。

尼克斯队能否在季后赛取得成功，可能会在今夏的阵容决策中发挥作用。如果尼克斯队重新签下中锋米切尔·罗宾逊，他们将在休赛期成为潜在的第二土豪线球队，并且下赛季有四名身背合同的球员年薪超过3350万美元，其中包括卡尔-安东尼·唐斯。这位全明星大个子有资格签署一份为期四年、最高2.75亿美元的续约合同，并且在2027-28赛季拥有6100万美元的球员选项。

贾·莫兰特和孟菲斯灰熊队值得关注。正如 ESPN 的沙姆斯·查拉尼亚 (Shams Charania) 在1月初报道的那样，灰熊队当时正在评估市场，为这位曾经的基石球员寻找新东家。莫兰特的合同还剩两年（4220万美元和4490万美元）。

自6月以来，孟菲斯已经交易了德斯蒙德·贝恩和小贾伦·杰克逊 (Jaren Jackson Jr.)，这些交易为球队换回了七个未来的首轮选秀权。

第二土豪线会拆散俄克拉荷马城吗？

杰伦·威廉姆斯 (Jalen Williams) 和切特·霍姆格伦 (Chet Holmgren) 的续约预计将使雷霆队下赛季超出第二土豪线2400万美元。但与其他因严格限制而拆解阵容的高消费球队不同，俄克拉荷马城雷霆队可以保持核心阵容的完整。

尽管雷霆队自2023-24赛季以来拥有全联盟最高的胜率，但他们将连续第六个赛季无需缴纳奢侈税。

土豪线的限制旨在削弱管理层在自由市场和交易中改进阵容的手段。但在2026-27赛季，雷霆队的所有15名球员都处于合同期内。

与其他高消费球队不同，俄克拉荷马城在未来七年拥有13个多余的首轮签和15个次轮签。雷霆队在6月可能会从快船队、费城76人队（如果是5-30顺位）和犹他爵士队（如果是9-30顺位）获得最多三个首轮签。此外，他们有权在2027年与快船队交换首轮签，并在2028年与独行侠队交换。

雷霆队还可以利用新秀合同球员来抵消阵容成本。过去两个赛季的首轮秀杰里德·麦凯恩 (Jared McCain)、尼古拉·托皮奇 (Nikola Topic) 和托马斯·索伯 (Thomas Sorber) 就是三个例子。

最重要的是，雷霆队交错安排了未来五个赛季的合同。虽然威廉姆斯和霍姆格伦的续约合同从下赛季开始，但谢伊·吉尔杰斯-亚历山大 (Shai Gilgeous-Alexander) 的新合同直到2027-28赛季才开始。在过去的两个赛季中，雷霆队为赛亚·哈尔滕施泰因、赛亚·乔 (Isaiah Joe)、阿隆·维金斯 (Aaron Wiggins)、杰林·威廉姆斯 (Jaylin Williams) 和阿杰·米切尔 (Ajay Mitchell) 签署了递减合同、带有球队选项或部分保障的合同。

俄克拉荷马城确实在配角阵容上面临一些抉择。哈尔滕施泰因、多尔特和肯里奇·威廉姆斯 (Kenrich Williams) 在下赛季拥有球队选项，而多尔特、威廉姆斯和卡森·华莱士今夏都有资格续约。

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：NBA offseason storylines: Watching LeBron, Reaves, Giannis, more

NBA offseason storylines: Watching LeBron, Reaves, Giannis, more

Which players, teams and storylines will dominate the NBA offseason?

The next step in the saga between Giannis Antetokounmpo and the Milwaukee Bucks is high on the list. So is the future of the Los Angeles Lakers’ roster, which features major free agent decisions for LeBron James and Austin Reaves. Leaguewide, plenty of franchises will face decisions that could alter the NBA’s hierarchy.

We’re breaking down the 10 most important questions of the summer, including superstars at a crossroads, top free agent and trade targets, and why June’s draft is so important for a handful of lottery-bound teams.

Will the Giannis saga delay offseason movement?

The answer could depend on which direction the Bucks take this summer.

“I want to win a championship with the Milwaukee Bucks,” Antetokounmpo told ESPN’s Malika Andrews during All-Star Weekend. “And if that is not on the table, maybe I have to pivot because I really want to win.”

Headed to the lottery for the first time since 2016, the Bucks will add a valuable 2026 draft pick to their list of tradable resources. Milwaukee can also trade first-rounders in 2031 and 2033 and can swap picks in 2031, 2032 and 2033. Persuading Antetokounmpo to sign an extension in the fall could depend on where June’s pick lands and whether the franchise plans to use those picks in a deal.

Improving via free agency could prove more difficult. Milwaukee has nine free agents this summer, five with player options (Kevin Porter Jr., Gary Trent Jr., Gary Harris, Taurean Prince and Jericho Sims). The Bucks are also projected to be over the cap this offseason, thanks in part to signing center Myles Turner last offseason and owing Damian Lillard $20.2 million per season through 2029-30 after waiving and stretching his contract.

Outside of using Turner’s, Kyle Kuzma’s or Bobby Portis’ contracts in a trade, Milwaukee will have the $15.1 million non-taxpayer midlevel, $5.5 million biannual and veteran minimum exceptions available to sign players.

The Bucks explored trades for Antetokounmpo before the deadline and will likely do so again if there is an indication he is not committed long term. The market for Antetokounmpo should expand this summer for several reasons.

Teams that were limited in tradable draft picks at the deadline will have more selections available starting the night of the draft. The Lakers, for example, will see their tradable first-rounders increase from one to three. The Miami Heat will have up to four firsts to trade instead of two at the deadline. The New York Knicks will go from zero to two.

More importantly, there is always a sense of urgency from the front office when a team loses early in the playoffs. The Houston Rockets and Orlando Magic were eliminated in the first round last season, then traded for Kevin Durant and Desmond Bane, respectively. Would the Knicks or the Cleveland Cavaliers choose to go all-in for Antetokounmpo if they suffer similar playoff fates?

Other reasons we could see a Giannis trade this summer:

Players who signed rookie extensions, such as the Magic’s Paolo Banchero and the Rockets’ Jabari Smith Jr., will no longer have a position restriction in their contract. A total of nine players will see the restriction removed starting July 1.
Teams will be allowed to send out or receive more contracts than during the regular season. Offseason roster sizes will expand from 15 to 21.
Teams will have more financial flexibility, as the first and second apron levels are projected to increase by 7.3%.

Where will LeBron James be next season?

Last week, after he became the oldest player to record a triple-double, 41-year-old James discussed one major factor that could determine how long the NBA’s leading career scorer stays in the league.

“My game is not going anywhere. It’s just my body,” James told reporters after the Lakers’ win over the Dallas Mavericks before the All-Star break. "[But] how long can I stay in love with the process?

“Because that’s always been my thing. If I can’t continue to stay in love with the process, then if [my mental commitment] goes, then my body’s going to go. And once my body goes, then it’s a wrap.”

Remarkably, James, who has averaged at least 33 minutes and 20 points in every season of his career, is on pace to add a 23rd consecutive year to the list.

James’ options for a 24th season? This offseason, the pending free agent can:

Return to the Lakers
Sign with a contender
Retire

Re-signing with Los Angeles would come with a significant pay cut from his current $52.6 million. But, few contenders are projected to have cap space this summer. For example, it’s likely that the Cavaliers, Denver Nuggets and Knicks could offer LeBron only the veteran’s minimum exception.

How will the Lakers continue building around Luka Doncic?

Since trading for Doncic in February 2025, the Lakers have been operating under two timelines: LeBron’s and Luka’s.

“Having optionality now is really a positive thing for us this coming offseason,” president of basketball operations Rob Pelinka said after this season’s Feb. 5 trade deadline.

This offseason, the franchise’s top priority is re-signing Austin Reaves, who will likely decline his $14.9 million player option for 2026-27 to pursue a long-term extension.

Before injuring his left calf on Christmas, Reaves was averaging a career-high 26.6 points and shooting better than 50% from the field. (In five games since returning, Reaves has averaged 20.0 points on just 25.4 minutes.) “I’ve said it a million times. I want to be in L.A. I love it,” Reaves told ESPN’s Dave McMenamin in November.

“Even though the other extension was turned down, that doesn’t mean that I’m trying to go get a f—ing gigantic number that doesn’t make sense. I want to be here; I want to win.”

The Lakers, Chicago Bulls and Brooklyn Nets are among the teams with enough spending power to sign Reaves to a lucrative contract. But as the Bucks showed when they waived and stretched Lillard’s contract last season, teams without cap space have methods to manufacture cap space.

Because of Reaves’ $20.9 million free agent hold, the Lakers could have up to $50 million in cap space this summer, the most of any team. To create that room, however, Los Angeles would need to renounce every free agent on the roster – including LeBron.

Besides James and Reaves, which other free agents should we watch?

Peyton Watson and Collin Gillespie.

In Watson’s case, Denver failing to reach an extension before the season could be costly.

“With the new CBA and the second apron, things of that nature, [the Nuggets] wanted to stay out of that,” Watson told The Denver Post in October. “As a business, you’ve gotta operate [based on] what’s best for your business. And when it comes time for me to make my decision next summer, I’ve gotta operate as a business myself.”

Watson is a restricted free agent this offseason, allowing Denver to match any offer sheet. The Nuggets are projected to be $3.6 million below the second apron next season.

Watson, named a Western Conference Player of the Week in January, is averaging career highs in points and shooting efficiency this season. And in 39 starts, he is averaging 17.5 points with a 50.4 field goal percentage and 41.7% shooting from 3.

Gillespie, meanwhile, has outplayed the one-year, $2.3 million contract he signed with the Suns.

He scored a career-high 30 points in a Feb. 3 win against the Portland Trail Blazers and has at least six assists in 16 games this season. The Suns are plus-4.8 points per 100 possessions when Gillespie is on the floor, according to Cleaning the Glass.

Gillespie is eligible to sign a four-year, $66.6 million contract with Phoenix. Because he has early Bird rights, the contract must be a minimum of two seasons (not including an option).

As for the rest of the free agent class, here are the top names to watch:

All-Star level: LeBron James, Jalen Duren (restricted), Austin Reaves, James Harden (player option)
Top starter level: Trae Young (player option), Lu Dort (team option), Draymond Green (player option), Walker Kessler (restricted), Norman Powell
Starter level: Peyton Watson (restricted) Neemias Queta (team option), Collin Gillespie, Deandre Ayton (player), Harrison Barnes, Coby White, Mitchell Robinson, John Collins, Tari Eason (restricted), Rui Hachimura, Tobias Harris, Kevin Porter Jr., (player option), Isaiah Hartenstein (team option), Jaden Ivey (restricted), CJ McCollum, Kristaps Porzingis, Fred VanVleet (player option), Nikola Vucevic, Zach LaVine (player option), Andrew Wiggins (player option) and Mark Williams (restricted)

Why are the next two months so important for teams jockeying for lottery position?

We’ve closely documented the 2026 draft class for some time, with a historically strong group of college freshmen creating one of the deepest lottery groups in recent memory. Darryn Peterson, AJ Dybantsa and Cameron Boozer have long been headliners. Fellow freshmen Caleb Wilson, Kingston Flemings, Keaton Wagler, Nate Ament, Darius Acuff Jr. and Mikel Brown Jr. currently round out our top nine.

The trade deadline amplified the stakes for teams such as the Jazz, Washington Wizards and Indiana Pacers, who might flirt with fate on lottery night due to the protections on their first-round selections. The reason for those teams to lose games is obvious: maximize their chances of keeping their picks.

The subtext behind this exciting draft is that NBA teams haven’t been as bullish on the 2027 and 2028 draft classes, as they continue to scour for talent domestically and internationally. It’s far too early to treat that as conclusive, but those drafts appear short on archetypal star power. It’s no coincidence that long-mired teams such as Washington and Utah are positioned to take a step forward next season. There is simply less incentive to lose games in 2026-27.

That perception places even more weight on the 2026 lottery, where this top group of players represents many teams’ clearest chance at a franchise-altering talent. – Jeremy Woo

Will veteran extensions impact the 2027 free agent class?

Analyzing what happens next for Antetokounmpo and James gives us the obvious storylines to watch this offseason. But players eligible to sign veteran extensions will play a larger role, not just this summer but in the 2026-27 trade landscape.

Starting the day after the Finals, a who’s who of All-Stars will become eligible to sign extensions:

Nikola Jokic, Kawhi Leonard, Karl-Anthony Towns, Draymond Green, Trae Young, LaMelo Ball, Ja Morant, Tyler Herro, Zion Williamson, Tyrese Haliburton, Pascal Siakam and Domantas Sabonis. Jokic bypassed signing a three-year extension last summer for financial reasons, not because he was unhappy with the direction Denver was headed with its roster. A year later, he can extend up to four more seasons starting in 2027-28.

In addition to Jokic, Donovan Mitchell (July 7), Anthony Edwards (July 8), Jaylen Brown (July 26), Anthony Davis (Aug. 6) and Stephen Curry (Aug. 29) become extension-eligible at some point in the offseason. (Because of the over-38 rule, Curry and Leonard can extend for two additional seasons.)

Victor Wembanyama will be the next $250 million player. Which rookie extension candidates could join him?

There will be little negotiating on Wembanyama’s next contract.

On or after July 6, San Antonio and its franchise star will agree to a projected five-year, $252 million maximum extension. The contract will include All-NBA, Defensive Player of the Year and MVP language, which could increase the deal to $303.3 million if he reaches the criteria in 2026-27. Because Wembanyama was ineligible for league honors in 2024-25, he is not eligible for 30% of the salary cap in Year 1 of the extension – even if the criteria are reached this season.

Close to 200 miles from San Antonio, the Rockets’ Amen Thompson could join Wembanyama as the second player to sign a rookie max extension this summer. Thompson is averaging a career high in points, assists and field goal percentage, and the Rockets are five points better per 100 possessions when Thompson is on the court.

Other notable extension candidates include Brandon Miller, Ausar Thompson, Cason Wallace, Dereck Lively II and Brandin Podziemski.

What will happen with Golden State this offseason?

Two days after the trade deadline, general manager Mike Dunleavy Jr. made it clear Golden State had the resources to improve in the summer. “We’ve got the goods to make deals,” he said.

“I think the only way we wouldn’t be in the mix is if we gave out assets, young players, all the things you need to get a great player. We still have all that. I think that’s one of the reasons the [Kristaps Porzingis] trade is really good for us, similar to Jimmy [Butler III] last year. We don’t feel like we gave up a ton. We still have the kind of firepower to move forward and do more deals.”

Dunleavy is referring to the Warriors’ four first-round picks and the right to swap picks in the next seven years. (They owe Dallas their 2030 first-rounder, but only if it falls outside of the top 20.)

What could hinder the Warriors in any trade talks are the contracts available to use in deals. While Golden State is well below the apron to absorb salary, its three highest-paid players are either untouchable (Curry), injured (Butler) or potentially a free agent – Green has a $27.7 million player option for 2026-27.

The Warriors do have $18 million in salary of former first-round picks Moses Moody and Podziemski. Porzingis could also be flipped in a sign-and-trade if he approves.

Besides Antetokounmpo, which players under contract should we watch?

We could see a domino effect of extension-eligible players in trade discussions this summer.

For example, will the Clippers continue their youth movement and explore trades for All-Star Kawhi Leonard? In two separate trades before the deadline, LA acquired former lottery picks Darius Garland, Bennedict Mathurin, Isaiah Jackson and two first-round picks.

“We were just trying to get younger,” Leonard said after the trade deadline. We came in the year with the oldest team. It makes sense for them to try to get some assets and try to build for the future. It’s a big class coming in 2027, hopefully. They gotta do what’s best for them."

Leonard, 34, will earn $50.3 million next season, his last year under contract with the Clippers.

Whether the Knicks find postseason success could play a role in roster decisions this summer. The Knicks will enter the offseason as a potential second apron team if they re-sign center Mitchell Robinson and have four players under contract earning more than $33.5 million next season, including Karl-Anthony Towns. The All-Star big man is eligible to sign up to a four-year, $275 million extension and has a $61 million player option for 2027-28.

Ja Morant and the Memphis Grizzlies are worth watching. As ESPN’s Shams Charania reported in early January, the Grizzlies were gauging the market for a new home for their once franchise player. Morant has two years remaining on his contract ($42.2 million and $44.9 million).

Since June, Memphis has traded Desmond Bane and Jaren Jackson Jr., deals that have netted the franchise seven future first-round picks.

Will the second apron break up Oklahoma City?

Extensions for Jalen Williams and Chet Holmgren project the Thunder to be $24 million over the second apron next season. But unlike other high-spending teams that dismantled their rosters because of the stringent restrictions, OKC can keep its core intact.

The Thunder will not pay a luxury tax penalty for a sixth consecutive season despite having the highest winning percentage of teams since 2023-24.

The apron restrictions work to take away the tools a front office has to improve the roster in free agency and trades. The Thunder have all 15 players under contract in 2026-27.

Unlike other high-spending teams, Oklahoma City has a surplus of 13 first-round picks and 15 second-rounders over the next seven years. The Thunder could have up to three first-rounders in June from the Clippers, the Philadelphia 76ers (if Nos. 5-30) and the Utah Jazz (if 9-30). In addition, they have the right to swap first-rounders with the Clippers in 2027 and with the Mavericks in 2028.

The Thunder can also offset the cost of the roster with players on rookie contracts. Three examples are Jared McCain, Nikola Topic and Thomas Sorber, first-round picks over the past two seasons.

Most importantly, the Thunder have staggered their contracts for the next five seasons. While the Williams and Holmgren extensions start next season, Shai Gilgeous-Alexander’s new deal does not begin until 2027-28. Over the past two seasons, the Thunder have signed Isaiah Hartenstein, Isaiah Joe, Aaron Wiggins, Jaylin Williams and Ajay Mitchell to contracts that either decline, have a team option or are partially guaranteed.

OKC does face a few decisions on its supporting cast. Hartenstein, Lu Dort and Kenrich Williams have team options next season, while Dort, Williams and Cason Wallace are extension-eligible this summer.

By Bobby Marks | ESPN, via ESPN