By Zach Kram | ESPN, 2026-03-23 19:00:00
在交易、自由球员签约、续约等各种操作中，NBA球队每年集体完成数百笔交易。有些运作效果拔群，有些则惨遭失败，而大多数则处于两者之间。
随着2025-26赛季常规赛接近尾声，让我们回顾一下过去一年的交易，并聚焦于那些极端案例，评选出2025年NBA总决赛结束以来最成功的10笔运作和最糟糕的10笔运作。
我将根据结果而非过程进行评判，并利用事后诸葛亮的优势；一些当时被看衰的操作可能最终证明是神来之笔，而一些当时看起来合理的操作却事与愿违。
本文中所有的净效率（net rating）和在场/不在场（on/off）数据均来自databallr，该网站在计算中剔除了低强度时间（垃圾时间）。统计数据截止至3月21日的比赛。
跳转至特定运作：
最成功： 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10
最糟糕： 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10
最成功的10笔运作排名
10. 纽约尼克斯交易得到何塞·阿尔瓦拉多
上榜理由： 从尼克斯在交易截止日以极小的代价——达伦·特里 (Dalen Terry)、两个次轮签和现金——换回何塞·阿尔瓦拉多 (Jose Alvarado) 的那一刻起，他似乎就完美契合尼克斯的风格。而在加盟新球队的前19场比赛中，他更是超出了预期。当阿尔瓦拉多在场时，尼克斯的净效率达到了惊人的+11.8，为全队最高。
潜在季后赛影响？ 尼克斯主帅迈克·布朗 (Mike Brown) 仍需确定他精准的季后赛轮换阵容。在迈尔斯·麦克布莱德 (Miles McBride) 接受运动型疝气手术归来之前，球队的后卫线已经非常拥挤。阿尔瓦拉多可能会在轮换调整中失去一些出场时间。
但他肯定会在季后赛中扮演某种角色，增加纽约的深度，而且麦迪逊广场花园的观众一定会爱死他的表现。
9. 金州勇士签下德安东尼·梅尔顿
上榜理由： 德安东尼·梅尔顿 (De’Anthony Melton) 在其职业生涯的大部分时间里都是高阶数据的宠儿，但他2024-25赛季因左膝前十字韧带（ACL）撕裂仅打了6场比赛。勇士在赛季中期的一笔交易中使用了他的薪水（换回丹尼斯·施罗德 (Dennis Schroder)，随后又将其作为筹码换来了吉米·巴特勒三世 (Jimmy Butler III)），然后在休赛期以310万美元的价格重新签下了他，并附带2026-27赛季350万美元的球员选项。
自从12月4日重返赛场以来，梅尔顿悄无声息地成为了联盟中最好的角色球员之一。当他在场时，金州勇士的净效率为+6.0——这是全队第二高的表现，仅次于巴特勒。
潜在季后赛影响？ 勇士队剩余的季后赛希望都寄托在斯蒂芬·库里 (Stephen Curry) 身上，他自1月30日以来因膝盖伤势反复一直缺阵。但如果库里能及时在季后赛前复出，梅尔顿将成为这位两届MVP身边最出色的攻防兼备后场搭档。
8. 圣安东尼奥马刺签下卢克·科内特
上榜理由： 当他不忙着更新博客时，卢克·科内特 (Luke Kornet) 就是稳健替补中锋的代名词。这位2024年的NBA总冠军在自由球员市场上签下了一份为期四年、价值4070万美元（其中2400万美元受保障）的合同，并完美填补了文班亚马 (Victor Wembanyama) 身后的空缺。
潜在季后赛影响？ 赢得总冠军还是在季后赛首轮出局，区别往往在于当当家球星休息时，球队是能维持局面，还是会彻底崩盘（参考近年拥有尼古拉·约基奇 (Nikola Jokic) 的掘金队的多个赛季）。而科内特在文班亚马下场休息时为马刺提供了稳定性。
在科内特在场而文班亚马不在场的1078分钟里，马刺的净效率为+4.3。这不仅仅是维持局面，简直是表现优异。
7. 丹佛掘金签下蒂姆·哈达威二世
上榜理由： 本赛季只有14名符合条件的球员场均能以40%或更高的命中率投进至少2.5个三分球。其中一个是贾马尔·穆雷 (Jamal Murray)，另一个就是他的掘金新队友，蒂姆·哈达威二世 (Tim Hardaway Jr.)。
去年夏天，哈达威以一年360万美元的合同签约——这与他此前在达拉斯独行侠和底特律活塞效力时的四年7500万美元合同相去甚远。哈达威极大地提升了丹佛的阵容深度，场均贡献13.9分，三分命中率达到了职业生涯新高的41%。
潜在季后赛影响？ 掘金队上赛季的三分命中数排名联盟第28位，但今年已跃升至第11位，这在很大程度上归功于哈达威的影响。在丹佛尝试于今春重返总决赛的过程中，他应该会扮演重要角色。如果球队的伤病困扰持续，或者掘金另一位新援卡梅隆·约翰逊 (Cameron Johnson) 的影响力依然有限，他甚至可能在季后赛中担任收割比赛的角色。
6. 菲尼克斯太阳交易得到狄龙·布鲁克斯
上榜理由： 当初狄龙·布鲁克斯 (Dillon Brooks) 被放入火箭队关于凯文·杜兰特 (Kevin Durant) 的交易中时，似乎主要是为了配平薪水。但这位老牌侧翼在菲尼克斯产生了远超预期的影响，他带头引领了太阳队的转变——从2024-25赛季的乐透球队变成了2025-26赛季的季后赛有力竞争者。
这笔运作之所以能入选“最成功”榜单，不仅是因为布鲁克斯在场上的表现（他场均得到职业生涯新高的20.9分），还因为他对太阳队文化的场外影响。
“他待在训练馆的时间比我认识的任何人都多，”太阳后卫科林·吉莱斯皮 (Collin Gillespie) 本赛季早些时候告诉 ESPN 的蒂姆·麦克马洪 (Tim MacMahon)，“你看到他有多努力、多好胜，当你看到这些时，你就不想让队友失望。他让你想更努力地工作。他挑战你和他一起泡在训练馆里，挑战你打得更强硬。”
潜在季后赛影响？ 布鲁克斯自2月21日以来因手部骨折缺阵，不过预计四到六周的缺席意味着他有望在季后赛前复出。太阳队需要一个健康的布鲁克斯才能在季后赛中有所作为，因为他的得分和出场时间均排在全队第二。
5. 迈阿密热火交易得到诺曼·鲍威尔
上榜理由： 去年夏天只有两位2026年的全明星球员更换了球队：杜兰特从太阳去了火箭；以及诺曼·鲍威尔 (Norman Powell) 从快船去了热火。而引进这位全明星的代价仅仅是凯尔·安德森 (Kyle Anderson) 和凯文·乐福 (Kevin Love)——这两位老将都已过了巅峰期，在目前这支热火队中并无位置。
鲍威尔将在本赛季结束后成为完全自由球员，目前尚不清楚迈阿密是否会续约他——尤其是泰勒·希罗 (Tyler Herro) 也同时具备续约资格。但即使他最终只在迈阿密打一个赛季，这笔运作也是非常值得的。
潜在季后赛影响？ 鲍威尔的季后赛影响力可能不像他的全明星身份所暗示的那样确定。由于两人的伤病，鲍威尔和希罗本赛季仅共同上场207分钟，且在此期间热火一直处于落后状态。值得注意的是，鲍威尔错过了迈阿密最近的七连胜，随后他在上周对阵魔术、黄蜂和湖人的败仗中复出。
尽管如此，凭借全队最高的场均22.3分，鲍威尔在迈阿密寻求再次开启“下克上”季后赛之旅的过程中，仍将扮演关键角色。
4. 布鲁克林篮网交易得到小迈克尔·波特
上榜理由： 布鲁克林用卡梅隆·约翰逊交换了丹佛的小迈克尔·波特 (Michael Porter Jr.) 和一个2032年的首轮签，而本赛季波特的表现远超约翰逊。因此，布鲁克林不仅得到了这笔交易中最好的球员，还为其庞大的选秀权军火库增添了一个未来的无保护首轮签。
尽管使用率大幅增加——波特本赛季以30.4%的使用率在符合条件的球员中排名第12，而他之前的生涯最高纪录仅为22.7%——且身处一支实力较弱的球队，波特的效率并没有下降多少。所有这些额外的机会将他的得分推向了职业生涯新高的场均24.2分，比之前的最佳纪录高出5.2分。
潜在季后赛影响？ 无。篮网的目标直指乐透区。但布鲁克林寻求在2026-27赛季重新具备竞争力，且明年他们无法控制自己的选秀权，因此波特届时可能会变得更加重要。
3. 亚特兰大老鹰通过先签后换得到尼基尔·亚历山大-沃克
上榜理由： 尼基尔·亚历山大-沃克 (Nickeil Alexander-Walker) 本来甚至不被认为会在本赛季首发。由于森林狼去年夏天决定给朱利叶斯·兰德尔 (Julius Randle) 和纳兹·里德 (Naz Reid) 高薪，而不是留住他们的替补后卫，亚特兰大乘虚而入，以四年6060万美元签下了亚历山大-沃克。即便如此，他当时的定位也只是特雷·杨 (Trae Young) 和戴森·丹尼尔斯 (Dyson Daniels) 身后的角色球员。
然而，随着杨受伤并随后被交易，亚历山大-沃克走到了聚光灯下，成为了亚特兰大的二号球星。这位曾经的防守悍将现在几乎在所有进攻统计数据上都创下了职业生涯新高：场均20.3分几乎是此前赛季最佳（11.0分）的两倍，且场均投进3.1个三分球，在符合条件的球员中排名第10。
亚历山大-沃克最初在这份榜单上排名第四，但在上周老鹰大胜奥兰多的比赛中砍下职业生涯新高的41分后，他的排名又上升了一位。
潜在季后赛影响？ 老鹰队是东部目前势头最猛的球队，在过去的13场比赛中取得了12胜1负的战绩。这一波冲刺让他们从东部第九升至并列第六，亚历山大-沃克和杰伦·约翰逊 (Jalen Johnson) 正在证明，他们可以在竞争相当开放的季后赛版图中占据一席之地。
2. 俄克拉荷马城雷霆续约阿杰·米切尔并交易得到贾里德·麦凯恩
上榜理由： 这支卫冕冠军唯一的弱点之一就是谢伊·吉尔杰斯-亚历山大 (Shai Gilgeous-Alexander) 身后的组织选择，当这位MVP不在场时，球队往往难以得分。但两笔精明的运作意味着雷霆现在拥有两名年轻且廉价的得分手，且合同期均还有三年。
首先是阿杰·米切尔 (Ajay Mitchell)，他是2024年的次轮秀，去年夏天签下了一份三年870万美元的续约合同。现在米切尔以高效的表现场均砍下14.2分，这笔交易看起来像是雷霆总经理萨姆·普雷斯蒂 (Sam Presti) 的神来之笔。米切尔今年的薪水为300万美元，明年的薪水仅为285万美元，2027-28赛季同样为285万美元。（最后一年技术上是球队选项，但雷霆肯定会执行该选项，或将其作为另一份续约谈判的筹码。）
在这三个赛季中，米切尔的薪水占工资帽的比例都不到2%。
接下来是贾里德·麦凯恩 (Jared McCain)，雷霆用一个2026年首轮末位签和三个次轮签换来了他。麦凯恩仍处于新秀合同期，在加盟新球队的19场比赛中，他每36分钟能得到22.9分，三分命中率高达44%。
潜在季后赛影响？ 雷霆主帅马克·戴格诺特 (Mark Daigneault) 拥有如此多的外线选择，以至于米切尔和麦凯恩在季后赛中可能会失去出场时间。毕竟，米切尔去年在俄克拉荷马城的季后赛出场时间排名第12，而排在他前面的11名球员目前都在队中。
但米切尔最近进入了首发阵容，而麦凯恩自全明星赛以来已有三场比赛领跑全队得分。这两位年轻后卫都有着高于平均水平的使用率，这表明他们已经赢得了戴格诺特的信任。
1. 夏洛特黄蜂选中康·克努佩尔
上榜理由： 2025年NBA选秀的前两顺位几乎没有悬念：库珀·弗拉格 (Cooper Flagg) 和迪伦·哈珀 (Dylan Harper) 是该届公认的前二新秀，独行侠和马刺也顺理成章地分别在第一和第二顺位选中了他们。
接下来的选择变得困难起来，有一大群球员都有竞争后几个顺位的实力。这其中最出众的是罗格斯大学的前锋艾斯·贝利 (Ace Bailey)，他在我们的 ESPN 大名单上排名第三，尽管关于他的经纪代理存在一些疑问。但费城在第三顺位放弃了贝利和其他候选人，转而选择了 VJ·艾奇库姆 (VJ Edgecombe)，他看起来像是一位未来的全明星。
紧接着是夏洛特，他们在第四顺位击出了一记更响亮的全垒打，选中了康·克努佩尔 (Kon Knueppel)。毫不夸张地说，这是一个正确的选择：克努佩尔是年度最佳新秀的头号热门，已经打破了新秀三分球纪录，并且已经是NBA最高效的得分手之一。
潜在季后赛影响： 夏洛特似乎将参加附加赛，因此即便球队自元旦以来表现强劲，克努佩尔在今春也很难走得太远。
但从长远来看，黄蜂队做出了过去一年中任何球队最正确、最重要的决定。克努佩尔是这支球队自2004年作为扩军球队重生以来，可能迎来的最成功时期的基石。
最糟糕的10笔运作排名
10. 克利夫兰骑士交易得到朗佐·鲍尔
上榜理由： 骑士在休赛期用艾萨克·奥科罗 (Isaac Okoro) 换来朗佐·鲍尔 (Lonzo Ball) 在当时看起来非常合理。奥科罗是一名可靠的防守者，但由于进攻端的挣扎，他始终无法稳固在克利夫兰的季后赛轮换中，而鲍尔则被视为克利夫兰星光熠熠的阵容中上限更高的连接者。
但鲍尔的进攻在克利夫兰彻底崩盘，他场均仅得到4.6分，投篮命中率为30%，真实投篮命中率更是全联盟垫底（在出场至少700分钟的球员中）。
还有希望吗？ 没有。克利夫兰在交易截止日使用了两个未来的次轮签来清理鲍尔的合同以节省开支，随后犹他爵士裁掉了他。他现在是一名自由球员。
9. 奥兰多魔术签下泰厄斯·琼斯
上榜理由： 魔术队在以一年700万美元签下泰厄斯·琼斯 (Tyus Jones) 时，是想寻找一名可靠的替补控卫。结果，他们得到的是一名场均仅3.0分、投篮命中率34%（三分命中率29%）的球员。当琼斯在场时，奥兰多每100回合要少得11.3分。
还有希望吗？ 没有。就像骑士对待鲍尔一样，魔术在截止日用了两个次轮签甩掉了琼斯的合同，此后他辗转黄蜂、独行侠，最后到了掘金，在那儿为掘金扮演着微不足道的角色。
8. 纽约尼克斯签下盖尔雄·亚布塞莱
上榜理由： 盖尔雄·亚布塞莱 (Guerschon Yabusele) 上赛季重返NBA后表现出色，在费城场均得到11分，三分命中率38%。尼克斯似乎在自由球员市场上从分区死敌手中抢走了他——结果却眼睁睁看着他的数据退化到场均仅2.7分，三分命中率29%，随后他跌出了布朗教练的轮换阵容，导致替补席出现空缺。
还有希望吗？ 有。虽然亚布塞莱也在截止日被交易（像鲍尔和琼斯一样），但尼克斯不必为了甩掉他的薪水而倒贴。相反，他们用亚布塞莱换来了达伦·特里，然后又把特里送到新奥尔良换回了阿尔瓦拉多。所以间接地，尼克斯已经把他们今年最糟糕的运作变成了最成功的运作。
7. 休斯顿火箭签下多里安·芬尼-史密斯
上榜理由： 多里安·芬尼-史密斯 (Dorian Finney-Smith) 上赛季在篮网和湖人效力时是NBA最好的角色球员之一。他+14.2的在场/不在场净胜分排名联盟第三，仅次于掘金的尼古拉·约基奇和克里斯蒂安·布劳恩 (Christian Braun)。
因此，在交易得到凯文·杜兰特之后，火箭队以四年5300万美元签下他，看起来像是一次成功的“打劫”。芬尼-史密斯的加入是火箭队看起来像休赛期最大赢家的原因之一。
但芬尼-史密斯直到圣诞节才在新球队完成首秀，且此后几乎没产生什么影响。他场均仅得到3.2分，作为火箭球员至今还没有哪场比赛得分上双。
还有希望吗？ 芬尼-史密斯的出场时间最近有所回升。在2月10日之前，他从未在一场比赛中出场超过20分钟，但在那之后的14场比赛中，他有10场做到了这一点。虽然产出依然不理想，但火箭主帅艾米·乌度卡 (Ime Udoka) 显然正试图在季后赛前让他融入球队。
由于芬尼-史密斯的合同签到了今年以后，他未来还会有更多机会，最好是在他的赛季开局不再被伤病耽误的情况下。
6. 萨克拉门托国王交易得到达里奥·萨里奇，并通过先签后换得到丹尼斯·施罗德
上榜理由： 国王队从著名的“红色回形针”故事中学错了教训。他们没有通过一系列小动作换来伟大的成果，而是通过一系列交易陷入了比以前更糟的境地。
首先，他们用能力出众的替补中锋约纳斯·瓦兰丘纳斯 (Jonas Valanciunas) 换来了达里奥·萨里奇 (Dario Saric)，后者今年在五场比赛中总共只得到了五分。然后，他们利用这笔交易腾出的财务灵活性，给并不适合萨克拉门托的施罗德开出了三年4440万美元的合同。最后，为了摆脱施罗德的合同，他们不得不将他与有价值的角色球员基翁·埃利斯 (Keon Ellis) 捆绑，换来了状态下滑且下赛季薪水高达2490万美元的德安德烈·亨特 (De’Andre Hunter)。
还有希望吗？ 考虑到球队目前的状况，国王队从这一系列操作中挽回损失的最好希望，就是亨特在下赛季能以持续的方式最终兑现他“3D”球员的潜力，然后他们可以在2026-27赛季的交易截止日用他换回选秀权。
5. 多伦多猛龙续约雅各布·珀尔特尔
上榜理由： 猛龙队去年夏天根本不需要续约雅各布·珀尔特尔 (Jakob Poeltl)。他已经拥有一个价值1950万美元、符合市场价的2026-27赛季球员选项。他们尤其不需要以三年8410万美元的价格续约珀尔特尔，这份合同将一直持续到他34岁的赛季。
但这笔签约的长期担忧提前转化成了短期问题：背部伤病导致珀尔特尔今年仅出战32场，他的产出也骤降，从场均14.5分跌至10.7分。
此外，珀尔特尔长期的续约合同可能使猛龙队的交易截止日计划变得复杂，因为他们没有进行大手笔补强来提升核心阵容，而是通过边缘操作来规避奢侈税线。
还有希望吗？ 珀尔特尔自全明星赛以来打得更好了，他本赛季表现最好的两场比赛（对阵底特律得到21分18篮板，12投9中；对阵丹佛得到23分11篮板，14投10中）都发生在过去一周。如果这种势头能持续到春天，猛龙将从中受益——尽管从长远来看，珀尔特尔的健康问题意味着他仍不太可能配得上这份新合同。即使在20多岁的时候，珀尔特尔自2022-23赛季以来单赛季出场次数也从未超过57场。
4. 新奥尔良鹈鹕签下凯文·卢尼并交易得到乔丹·普尔
上榜理由： 这两笔鹈鹕的交易在当时可能被另一笔更令人费解的操作掩盖了，但其迷惑程度丝毫不减。凯文·卢尼 (Kevon Looney) 离开金州勇士签下了一份800万美元的合同（第二年为等额球队选项）；作为一笔三方交易的一部分，新奥尔良送出了进入合同最后一年的CJ·麦科勒姆 (CJ McCollum)，换来了萨迪克·贝 (Saddiq Bey) 和乔丹·普尔 (Jordan Poole)。普尔在2024-25赛季表现有所回升，但他在2026-27赛季还有3400万美元的合同。
虽然贝悄然打出了职业生涯最好的一个赛季，在一定程度上挽救了鹈鹕的决定，但卢尼和普尔的部分并没有收到回报。卢尼在一支中锋过剩的阵容中仅出场18次，而普尔的真实投篮命中率从上赛季的59%下降到了今年的53%——这与他在华盛顿那个糟糕的首个赛季持平。他的其他统计数据也随之大幅下滑。
还有希望吗？ 可能性不大。普尔赛季初是首发，但此后已彻底跌出鹈鹕的轮换。他和卢尼在三月份总共只出场了两次。
目前尚不清楚普尔的未来在哪里，但他下赛季注定将成为鹈鹕薪水第二高的球员。如果新奥尔良拒绝执行选项，卢尼可能会再次成为自由球员。
3. 快船用布拉德利·比尔和克里斯·保罗取代诺曼·鲍威尔
上榜理由： 快船队原本计划交易走一名后卫（鲍威尔）换回一名前锋（约翰·科林斯 (John Collins)），然后用两名老牌球星来填补鲍威尔留下的火力空缺。
平心而论，科林斯履行了他的职责。但布拉德利·比尔 (Bradley Beal) 在接受髋部手术前仅出战六场，场均得到8.2分；而克里斯·保罗 (Chris Paul)——这位曾经的队史传奇——在与管理层发生冲突并被草草送回家之前，在16场比赛中场均仅得到2.9分。
还有希望吗？ 如果快船队能好好利用今年夏天不用续约鲍威尔而腾出的薪金空间，他们可能会以一种迂回的方式从这次交换中获得一些长期利益。但不可否认的是，这笔操作对他们2025-26赛季的征程造成了灾难性的影响。
2. 新奥尔良鹈鹕交易一个2026年无保护选秀权，将2025年选秀顺位从第23位提升至第13位
上榜理由： 当 ESPN 的蒂姆·邦坦普斯 (Tim Bontemps) 在去年休赛期对教练、球探和高管进行调查时，大多数人将其选为夏天最糟糕的运作。
一年后，这笔交易看起来并没有好转。提醒一下，为了向上移动10个顺位并在去年选中德里克·奎恩 (Derik Queen)，新奥尔良给了亚特兰大一个2026年选秀大年的无保护选秀权——取鹈鹕和雄鹿选秀权中顺位更高的那个。根据 ESPN 篮球指数（BPI）的预测，由于新奥尔良和密尔沃基都将进入乐透区，老鹰队有10.3%的机会因此次交易获得状元签，且获得前四顺位的概率超过40%。
作为对比，根据我的选秀价值表，将顺位从第23位提升到第13位的合理代价应该是该届选秀的第28顺位。鹈鹕很可能会送出一个顺位至少高出20位的选秀权。
还有希望吗？ 奎恩撞到了“新秀墙”，他的出场时间和产出自全明星赛以来有所减少。但他作为新秀展现出了足够的潜力，长远来看他可能会证明自己值得这个沉重的代价——即便老鹰队在今年夏天选中了更具吸引力的天才球员。
1. 密尔沃基雄鹿裁掉并延伸支付达米安·利拉德的合同以签下迈尔斯·特纳
上榜理由： 密尔沃基在去年休赛期冒了全联盟最大的风险，当时他们裁掉了受伤的达米安·利拉德 (Damian Lillard)，并对其合同剩余的1.13亿美元使用了延伸条款，以便在自由球员市场上签下迈尔斯·特纳 (Myles Turner)。特纳签下了一份四年1.089亿美元的合同，在雄鹿前场取代布鲁克·洛佩斯 (Brook Lopez)，搭档扬尼斯·阿德托昆博 (Giannis Antetokounmpo)。
这套组合拳在短期内并未奏效：在离开印第安纳的首个赛季，特纳打出了职业生涯最差的球员效率值（PER），以及自新秀赛季以来最差的效率值（BPM）。而随着关于阿德托昆博的流言比以往任何时候都传得更凶，雄鹿将迎来十年来的首个胜率不足五成的赛季。
此外，从长远来看，延伸支付利拉德的合同意味着雄鹿直到2029-30赛季，每个赛季都要支付2250万美元的死工资，这严重削弱了他们在此期间围绕核心建队的能力。
还有希望吗？ 理论上，特纳下赛季可能会反弹，成为阿德托昆博身边合格的空间型大个子，雄鹿可以凭借这一双人组重新回到竞争者行列。
但雄鹿在牺牲了如此多长期灵活性来签下他时，做的是一场孤注一掷的豪赌。而孤注一掷的豪赌通常不会有好的回报。
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：Ranking the 10 best and 10 worst NBA deals since 2025 offseason
Ranking the 10 best and 10 worst NBA deals since 2025 offseason
Between trades, free agent signings, extensions and more, NBA teams collectively make hundreds of transactions every year. Some work out great. Some fail spectacularly. And most end up somewhere in the middle.
As the 2025-26 regular season draws to a close, let’s look back on the last year of transactions and focus on those extremes, ranking the 10 best and 10 worst moves since the end of the 2025 NBA Finals.
I’m judging these decisions based on results, not process, and with the benefit of hindsight; some of the best moves might have been panned at the time, while some of the worst might have made sense, only to play out counter to expectations.
All net rating and on/off data in this piece comes from databallr, which removes low-leverage minutes from its calculations. Stats are through March 21’s games.
Jump to a move:
Best: 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10
Worst: 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10
Ranking the 10 best moves
10. New York Knicks trade for Jose Alvarado
Why it’s on the list: From the moment they acquired him at the trade deadline – for the minor price of Dalen Terry, two second-round picks and cash – Alvarado seemed like a perfect fit for the Knicks, and he has more than fulfilled those expectations in his first 19 games with his new team. The Knicks have a plus-11.8 net rating with Alvarado on the floor, the best mark on the team.
What’s the potential playoff impact? Knicks coach Mike Brown still has to figure out his precise playoff rotation, which is already chock-full of guards even before Miles McBride returns from surgery for a sports hernia. Alvarado could lose some playing time in the shuffle.
But he’ll certainly play some role in the postseason, adding to New York’s depth, and the Madison Square Garden crowd is bound to love it.
9. Golden State Warriors sign De’Anthony Melton
Why it’s on the list: Melton has been an advanced stats darling for most of his career, but his 2024-25 season lasted just six games due to a torn ACL in his left knee. The Warriors used his salary in a midseason trade (for Dennis Schroder, whom they then re-routed in the Jimmy Butler III trade), then re-signed him in the offseason for $3.1 million, with a $3.5 million player option for 2026-27.
Since he returned to the court on Dec. 4, Melton has quietly been one of the best role players in the league. When he’s on the floor, Golden State has a plus-6.0 net rating – the second-best mark on the team, behind only Butler.
What’s the potential playoff impact? Whatever remaining playoff hopes the Warriors have rest on Stephen Curry, who hasn’t played since Jan. 30 due to a lingering knee issue. But if Curry can return to the court in time for the postseason, then Melton will serve as the best two-way backcourt partner for the two-time MVP.
8. San Antonio Spurs sign Luke Kornet
Why it’s on the list: When he’s not active on his blog, Kornet is the definition of a solid backup center. The 2024 NBA champion signed a four-year, $40.7 million deal (with $24 million guaranteed) in free agency, and he’s slotted in perfectly behind Victor Wembanyama.
What’s the potential playoff impact? The difference between winning a title and losing in an early playoff round can come down to whether a team can tread water when its best player rests, or if it collapses entirely (see: many recent Nuggets seasons, with Nikola Jokic). And Kornet offers the Spurs stability when Wembanyama sits.
In 1,078 minutes when Kornet’s on the floor and Wembanyama isn’t, the Spurs have a plus-4.3 net rating. That’s even better than treading water.
7. Denver Nuggets sign Tim Hardaway Jr.
Why it’s on the list: Only 14 qualified players this season have made at least 2.5 3-pointers per game on 40% shooting or better. One is Jamal Murray, and another is his new Nuggets teammate, Hardaway.
Signed to a one-year, $3.6 million contract last summer – a far cry from the four-year, $75 million deal he’d previously played under with the Dallas Mavericks and Detroit Pistons – Hardaway has done wonders for Denver’s depth, averaging 13.9 points per game on a career-high 41% mark from distance.
What’s the potential playoff impact? The Nuggets ranked 28th in 3-point makes last season, but they’re up to 11th this year, in large part due to Hardaway’s influence. He should play a major role as Denver attempts to return to the Finals this spring, and he could even close playoff games if the team’s injury woes continue, or if fellow Nuggets newbie Cameron Johnson’s impact remains muted.
6. Phoenix Suns trade for Dillon Brooks
Why it’s on the list: It seemed like Brooks was included in the Rockets’ trade for Kevin Durant primarily for salary-matching purposes. But the veteran wing has had a much greater impact in Phoenix, where he’s spearheaded the Suns’ turnaround from lottery team in 2024-25 to playoff hopeful in 2025-26.
This move makes the “best” list not only because of Brooks’ play on the court – he’s averaging a career-high 20.9 PPG – but because of his off-court influence on the Suns’ culture.
“He’s in the gym more than anybody that I know,” Suns guard Collin Gillespie told ESPN’s Tim MacMahon earlier this season. “You see how hard he works, how competitive he is, and you want to not let your teammate down when you see that. He makes you want to work harder. He challenges you to be in the gym with him, challenges you to play harder.”
What’s the potential playoff impact? Brooks hasn’t played since Feb. 21 due to a broken hand, though his projected four-to-six-week absence means he could return in time for the postseason. The Suns need a healthy Brooks to make any noise in the playoffs, as he ranks second on the team in points and minutes.
5. Miami Heat trade for Norman Powell
Why it’s on the list: Only two 2026 All-Stars changed teams last summer: Durant, from Phoenix to Houston; and Powell, from the Clippers to the Heat. And the price to add an All-Star was Kyle Anderson and Kevin Love – two veterans past their prime who had no place on this Heat squad.
Powell is an unrestricted free agent after this season, and it’s unclear whether Miami will re-sign him – especially with Tyler Herro eligible for an extension at the same time. But even if he only ends up playing in Miami for one season, this move was well worth it.
What’s the potential playoff impact? Powell’s playoff impact is more uncertain than his All-Star status would suggest. Due to injuries for both players, Powell and Herro have shared the floor for just 207 minutes this season, and the Heat have been outscored in that time. It’s notable, perhaps, that Powell missed all of Miami’s recent seven-game winning streak, before he returned for Miami’s losses to the Magic, Hornets and Lakers last week.
Still, with a team-high 22.3 PPG, Powell should play a key role as Miami seeks another underdog playoff run.
4. Brooklyn Nets trade for Michael Porter Jr.
Why it’s on the list: Brooklyn traded Cameron Johnson to Denver for Porter and a 2032 first-round pick, and Porter has significantly outplayed Johnson this season. So Brooklyn got the best player in the trade and a future unprotected pick to add to its vast war chest.
Despite a massive increase in usage rate – Porter ranks 12th among qualified players this season with 30.4% usage, while his previous career high was 22.7% – on a worse team, Porter’s efficiency hasn’t dropped much. All those extra opportunities have boosted his scoring to a career-high 24.2 PPG, 5.2 points above his previous best.
What’s the potential playoff impact? None, with the Nets’ sights squarely on the lottery. But Brooklyn seeks to contend in 2026-27, with no control over its own draft pick next year, so Porter could be much more relevant then.
3. Atlanta Hawks add Nickeil Alexander-Walker via sign-and-trade
Why it’s on the list: Alexander-Walker wasn’t even supposed to start this season. With the Timberwolves deciding to pay Julius Randle and Naz Reid last summer instead of their reserve guard, Atlanta swooped in, nabbing Alexander-Walker for four years and $60.6 million. But still, he profiled as a role player who’d back up Trae Young and Dyson Daniels.
Instead, with Young hurt and then traded, Alexander-Walker has stepped into the spotlight and been Atlanta’s second-best player. The onetime defensive standout is now posting career highs in just about every offensive statistic on the board: His 20.3 PPG are nearly double his previous season best (11.0), and he’s 10th among qualified players with 3.1 3-pointers per game.
Alexander-Walker initially ranked fourth on this list, but he jumped up another spot after he scored a career-high 41 points in a big Hawks win over Orlando last week.
What’s the potential playoff impact? The Hawks are the hottest team in the East, with a 12-1 record in their last 13 games. That run has boosted them from ninth to a tie for sixth place in the East, and Alexander-Walker and Jalen Johnson are making a case that they can compete in a fairly open playoff field.
2. Oklahoma City Thunder extend Ajay Mitchell and trade for Jared McCain
Why it’s on the list: One of the defending champions’ only weaknesses was their playmaking options behind Shai Gilgeous-Alexander, as the team often struggled to score without its MVP. But a pair of shrewd moves mean the Thunder now have two young, cheap scorers under contract for three years.
First up was Mitchell, a second-round pick in 2024 who signed an extension for three years and $8.7 million last summer. Now that Mitchell has broken out to the tune of 14.2 PPG on strong efficiency, that deal looks like a masterstroke for Thunder GM Sam Presti. Mitchell is being paid $3 million this year, and he’s on the books for just $2.85 million next year and another $2.85 million in 2027-28. (That last year is technically a team option, but the Thunder are guaranteed to either pick up that option or use it as leverage in another extension negotiation.)
In all three seasons, Mitchell’s salary accounts for less than 2% of the salary cap.
Next was McCain, whom the Thunder acquired for a late 2026 first-round pick and three second-rounders. McCain is still on his rookie deal, and in 19 games with his new team, he’s scored 22.9 points per 36 minutes while making 44% of his 3-pointers.
What’s the potential playoff impact? Thunder coach Mark Daigneault has so many perimeter options that Mitchell and McCain could lose playing time in the postseason. After all, Mitchell ranked 12th on Oklahoma City in playoff minutes last year, and all 11 players ahead of him are still on the team.
But Mitchell recently entered the starting rotation, and McCain has led the Thunder in scoring in three games since the All-Star break. Both young guards have above-average usage rates, suggesting they’ve earned Daigneault’s trust.
1. Charlotte Hornets draft Kon Knueppel
Why it’s on the list: The first two picks of the 2025 NBA Draft carried little suspense: Cooper Flagg and Dylan Harper were the consensus top two prospects in the class, and the Mavericks and Spurs obliged by taking them first and second, respectively.
The decisions got harder from there, with a large group of players in contention to go in the next couple picks. Tops among that group was Rutgers forward Ace Bailey, who was third on our ESPN Big Board, albeit with questions around his representation. But Philadelphia passed on Bailey and other candidates with the No. 3 pick, instead selecting VJ Edgecombe, who looks like a future All-Star.
Next up was Charlotte, which slammed an even mightier home run with the No. 4 selection, Kon Knueppel. Suffice it to say, that was the right choice: Knueppel is the Rookie of the Year favorite, having already smashed the rookie record for 3-pointers, and he is already one of the most efficient scorers in the NBA.
What’s the potential playoff impact?: Charlotte appears headed for the play-in round, so it’s unlikely – even with the team’s strong play since the new year – that Knueppel advances very far this spring.
But from a long-term perspective, the Hornets made the best, most important decision for any team over the last year. Knueppel is a cornerstone for what could be the franchise’s most successful stretch since it was reborn as an expansion team in 2004.
Ranking the 10 worst moves
10. Cleveland Cavaliers trade for Lonzo Ball
Why it’s on the list: Cleveland’s offseason swap of Isaac Okoro for Ball made a lot of sense at the time. Okoro is a solid defender but could never stick in Cleveland’s playoff rotation because of his offensive struggles, while Ball profiled as a higher-upside connector for Cleveland’s star-studded lineup.
But Ball’s offense cratered in Cleveland, where he averaged 4.6 PPG on 30% shooting, with the worst true shooting percentage in the league (minimum 700 minutes).
Is there any hope? No. Cleveland used two future second-round picks to dump Ball’s contract as a money-saving measure at the deadline, and Utah waived him thereafter. He’s now a free agent.
9. Orlando Magic sign Tyus Jones
Why it’s on the list: The Magic were looking for a dependable backup point guard when they signed Jones for one year and $7 million. Instead, they got a player who averaged just 3.0 PPG on 34% shooting (29% from 3). Orlando was 11.3 points per 100 possessions worse with Jones on the floor.
Is there any hope? No. Like the Cavaliers with Ball, the Magic used two second-round picks to dump Jones’ contract at the deadline, and he’s since bounced from Charlotte to Dallas to Denver, where he’s played a small role for the Nuggets.
8. New York Knicks sign Guerschon Yabusele
Why it’s on the list: Yabusele excelled in his return to the NBA last season, averaging 11 PPG and making 38% of his 3-pointers for Philadelphia. The Knicks seemingly stole him from their division rivals in free agency – and promptly watched his numbers regress to a mere 2.7 PPG and 29% mark on 3-pointers, as he fell out of coach Brown’s rotation and left a hole on the bench.
Is there any hope? Yes. While Yabusele was also traded at the deadline, like Ball and Jones, the Knicks didn’t have to dump his salary. Instead, they swapped Yabusele for Dalen Terry, then spun Terry to New Orleans for Alvarado. So indirectly, the Knicks already turned their worst move of the year into their best.
7. Houston Rockets sign Dorian Finney-Smith
Why it’s on the list: Finney-Smith was one of the NBA’s best role players last season, while playing for the Nets and Lakers. His plus-14.2 on/off differential was third best in the league, behind only Nikola Jokic and Christian Braun of the Nuggets.
So it seemed like a coup when the Rockets signed him for four years and $53 million, on the heels of trading for Kevin Durant. Finney-Smith’s addition was one reason the Rockets seemed like the offseason’s biggest winners.
But Finney-Smith didn’t debut with his new team until Christmas, and he’s barely made an impact since. He’s averaged just 3.2 PPG, and he still hasn’t reached double-digit points in any game as a Rocket.
Is there any hope? Finney-Smith’s playing time has perked up recently. He never exceeded 20 minutes in a game before February 10, but he’s done so in 10 of 14 games since. The production still isn’t there, but Rockets coach Ime Udoka is clearly trying to incorporate him before the postseason.
And because Finney-Smith is signed beyond this year, he’ll have more opportunities in the future, preferably when his start to the season isn’t waylaid by injury.
6. Sacramento Kings trade for Dario Saric to add Dennis Schroder via sign-and-trade
Why it’s on the list: The Kings took the wrong lessons from the famous red paperclip story. Instead of a succession of small moves that led to something great, they made a series of transactions to end up in a worse place than before.
First, they traded capable backup center Jonas Valanciunas for Saric, who scored all of five points in five games this year. Then, they used the extra financial flexibility from that deal to commit $44.4 million over three years to Schroder, who didn’t fit in Sacramento. And finally, to extricate themselves from Schroder’s contract, they bundled him with valuable role player Keon Ellis in a trade for De’Andre Hunter, who’s regressed and owed $24.9 million next season.
Is there any hope? Given the state of the franchise at this point, the Kings’ best hope to salvage something from this sequence is that Hunter finally fulfills his 3-and-D potential in a sustained way next season, and they can trade him for picks at the 2026-27 deadline.
5. Toronto Raptors extend Jakob Poeltl
Why it’s on the list: The Raptors didn’t need to extend Poeltl last summer. He already had a fair value $19.5 million player option for the 2026-27 season. And they especially didn’t need to extend Poeltl for three years and $84.1 million, in a deal that would take him through his age-34 season.
But the long-term concerns with such a pact accelerated to the short term: Back problems have limited Poeltl to 32 games this year, and his production has plummeted, from 14.5 PPG to 10.7.
Moreover, Poeltl’s lengthy extension potentially complicated the Raptors’ trade deadline plans, as they didn’t make a big addition to boost their core but instead worked around the margins to duck under the luxury tax line.
Is there any hope? Poeltl has played better since the All-Star break, with his two best games of the season (21 points and 18 rebounds on 9-for-12 shooting against Detroit, and 23 points and 11 rebounds on 10-for-14 shooting against Denver) coming in the last week. Toronto would benefit if that surge continues through the spring – though over the long term, Poeltl’s health concerns mean he’s still unlikely to live up to his new extension. Even in his late 20s, Poeltl hasn’t played more than 57 games in a season since 2022-23.
4. New Orleans Pelicans sign Kevon Looney and trade for Jordan Poole
Why it’s on the list: They were perhaps overshadowed by an even more perplexing move at the time, but this pair of Pelicans transactions was no less confusing in the moment. Looney left Golden State for an $8 million deal (with an equivalent team option for year two), and as part of a three-team deal, New Orleans traded CJ McCollum, who was entering the final year of his contract, for Saddiq Bey and Poole, who’d played better in 2024-25 but had an additional $34.0 million headed his way in 2026-27.
While Bey has quietly turned in a career-best season, which somewhat redeems the Pelicans’ decisions, the Looney and Poole portions haven’t paid off. Looney has appeared in just 18 games for a center-heavy roster, while Poole’s true shooting has fallen from 59% last season to 53% this year – right in line with his 53% mark from his first rotten season in Washington. The rest of his stats have followed suit.
Is there any hope? It’s unlikely. Poole began the season as a starter, but he’s since fallen out of the Pelicans’ rotation entirely. He and Looney have combined to appear in just two games in March.
It’s now unclear what’s next for Poole, but he’s slated to be the Pelicans’ second-highest-paid player next season. Looney will likely be a free agent again if New Orleans declines his option.
3. Clippers replace Norman Powell with Bradley Beal and Chris Paul
Why it’s on the list: The Clippers planned to trade a guard (Powell) for a forward (John Collins), then backfill Powell’s production with two veteran stars.
Collins, to his credit, has held up his end of the deal. But Beal averaged just 8.2 PPG in six games before undergoing hip surgery, while Paul – a former franchise great – averaged 2.9 PPG in 16 games before being unceremoniously sent home amid clashes with management.
Is there any hope? If the Clippers make good use of the cap space they’re not devoting to a Powell extension this summer, they could reap some long-term benefit from this swap in a roundabout way. But there’s no sugarcoating the disastrous impact it had on their 2025-26 campaign.
2. New Orleans Pelicans trade an unprotected 2026 draft pick to move from No. 23 to 13 in 2025
Why it’s on the list: When ESPN’s Tim Bontemps conducted a survey of coaches, scouts and executives last offseason, a majority picked this as the worst move of the summer.
A year later, it doesn’t look any better. As a reminder, to move up 10 spots and select Derik Queen last year, New Orleans gave Atlanta an unprotected pick in the loaded 2026 draft – the best of either the Pelicans’ or Bucks’ picks. With both New Orleans and Milwaukee headed for the lottery, based on ESPN’s Basketball Power Index projections, the Hawks have a 10.3% chance of nabbing the top pick in the draft as a result of this trade, and more than a 40% chance of a top-4 pick.
For context, according to my draft value chart, a fair price to move up to No. 13 from No. 23 would be the 28th pick in the draft. The Pelicans are likely going to give up a pick that’s at least 20 slots better.
Is there any hope? Queen has hit something of a rookie wall, and his playing time and production have dwindled since the All-Star break. But he’s flashed enough potential as a rookie that it’s possible he’ll prove worth this hefty cost in the long run – even if the Hawks land a more prized prospect this summer.
1. Milwaukee Bucks waive and stretch Damian Lillard to sign Myles Turner
Why it’s on the list: Milwaukee took the biggest risk of any team last offseason, when it waived the injured Lillard and stretched the remaining $113 million on his contract to acquire Turner in free agency. Turner signed a four-year, $108.9 million deal to replace Brook Lopez next to Giannis Antetokounmpo in the Bucks’ frontcourt.
That two-step hasn’t worked out in the short term: In his first season away from Indiana, Turner has posted the worst player efficiency rating of his career and his worst box plus/minus since he was a rookie. And the Bucks will finish with their first losing record in a decade, as the Antetokounmpo rumors swirl more than ever before.
In the long term, moreover, stretching Lillard means the Bucks will pay $22.5 million in dead cap charges every season through 2029-30, severely compromising their ability to build a winner during that period.
Is there any hope? Theoretically, Turner could rebound next season and serve as a proper stretch big next to Antetokounmpo, and the Bucks could return to contention on the strength of that duo.
But the Bucks made a desperate gamble when they sacrificed so much long-term flexibility to sign him. And desperate gambles don’t often pay out.
By Zach Kram | ESPN, via ESPN