Editor's note (Feb. 15): This piece has been updated after GM Dell Demps and the New Orleans Pelicans parted ways, according to a report by ESPN's Adrian Wojnarowski.
As expected, the trade deadline passed, and Anthony Davis is still on the New Orleans Pelicans.
Now what?
Though the pool of players available to acquire in a trade will shrink in the offseason, expect clarity to set in during the months of May and June.
By lottery night on May 14, we will know if the Boston Celtics have two top draft picks, plus which team has a chance to draft potential franchise player Zion Williamson. On June 13, Kyrie Irving is expected to decline his player option, which would allow the Celtics to consummate a deal with the Pelicans on July 1.
Here is a look at what the potential suitors can offer in trade talks, who is likely off the table and the challenges each team will face in swinging a franchise-altering trade.
The options for the Pelicans
Though there certainly will be discussions and trade proposals among teams -- including those on and off Davis' list of preferred destinations -- once the season ends, don't expect New Orleans' new lead executive to pull off a Davis deal until after July 1 for the following reasons:
Teams are operating under the 2018-19 salary cap until July 1. For example, starting then, the Lakers are projected to have $36 million in room that could be used in a Davis deal.
Free agents cannot be signed and traded until July 1.
Playoff teams are ineligible to make trades until after they are eliminated.
The Celtics are in a holding pattern until July 1 and are waiting on a decision from Irving.
The draft lottery could heavily influence trade packages around the league.
There is more roster flexibility, with teams allowed to have 20 players under contract.
New Orleans had two cracks at a trade. One passed at the deadline. The second (and last) should happen no later than mid-July.
Off the table: Jrue Holiday. The point guard could be the next domino to fall, but New Orleans should hold off any potential talks until there is a resolution with Davis. Holiday is under contract through 2021-21 (player option in the final year) and would be high on the list of many teams if made available.
Not available: Julius Randle (player option), Darius Miller (free agent), Tim Frazier (free agent), Elfrid Payton (free agent), Ian Clark (free agent), Cheick Diallo (restricted free agent), Stanley Johnson (free agent) and Jason Smith (free agent)
Draft assets
Own all future first-round picks (2019-2025)
Own all future second-round picks (Chicago can swap in 2021)
Cash to be sent out and received: $5.6 million
Have the draft rights to two players
Tradable contracts (2019-20 season)
1. Anthony Davis: $27.1 million, under contract through the 2020-21 season (player option)
15 percent trade bonus: If Davis is moved in July, his trade bonus is $4.063 million. The increase is a result of Davis having seven years of service and his contract representing 30 percent of the salary cap.
Davis would not be eligible to sign a $240 million supermax extension with his new team.
Six months after the trade, Davis would be eligible to sign a four-year, $145.6 million extension.
Davis could sign a new contract with the acquiring team in July 2020 for up to five years, $205.3 million. Signing with a team that has cap space could see Davis secure a four-year, $152.2 million contract.
Davis will have eight years of service when he is a free agent in 2020 and could go the short-term route like Kevin Durant did with the Warriors. In 2022, Davis would be eligible to sign a projected five-year, $253.8 million contract.
2. Solomon Hill: $12.8 million, under contract through 2019-20
3. E'Twaun Moore: $8.6 million, under contract through 2020-21
4. Jahlil Okafor: $1.7 million, under contract through 2019-20 (team option)
$54K salary protection if his 2019-20 team option is exercised
5. Frank Jackson: $1.6 million, under contract through 2019-20
Contract for 2019-20 becomes guaranteed if not waived by June 30
6. Kenrich Williams: $1.4 million, restricted free agent in 2020
Contract for 2019-20 is non-guaranteed
Complicating factors
The salaries for Okafor, Jackson and Williams would not be included for matching purposes in trades. All three players have minimal or $0 salary protection for 2019-20.
Next man up: The Boston Celtics
The Celtics exhaled when Davis was not moved at the deadline. Well, sort of.
Although the Celtics have the right mix of players and draft assets, Irving's future in free agency is unknown. ESPN's Adrian Wojnarowski has reported that the Irving decision will not influence the Celtics' pursuit of Davis.
Not available: Kyrie Irving (free agent), Marcus Morris (free agent), Terry Rozier (restricted free agent), Daniel Theis (restricted free agent), Brad Wanamaker (restricted free agent)
Draft assets
Own all future first-round picks (2019-2025)
Own Sacramento's 2019 first-round pick (protected for No. 1)
Own Memphis' 2019 first-round pick (top-eight protected). Will roll over to 2020 (top-six protected) or 2021 (unprotected). This is the crown jewel of the Celtics' draft assets.
Own the Clippers' 2019 first-round pick (lottery protected). Will roll over to 2020 (lottery protected). If not conveyed, Boston will receive the Clippers' 2022 second-round pick.
Own all future second-round picks except 2019, which will convey to Memphis if it is between Nos. 56-60
Cash to be sent out and received: $5.6 million
Tradable contracts (2019-20 season)
1. Gordon Hayward: $32.7 million, under contract through 2020-21
15 percent trade bonus: valued at $4.9 million in July
2. *Al Horford: $30.1 million, under contract through 2019-20
15 percent trade bonus: valued at $4.5 million in July
3. Marcus Smart: $12.5 million, under contract through 2021-22
4. Jayson Tatum: $7.8 million, restricted free agent in 2021
5. Jaylen Brown: $6.5 million, restricted free agent in 2020
Extension-eligible starting in July
6. *Aron Baynes: $5.5 million, under contract through 2019-20
7. Guerschon Yabusele: $3.1 million, restricted free agent in 2021
8. Robert Williams: $1.9 million, restricted free agent in 2022
9. Semi Ojeleye: $1.6 million, restricted free agent in 2021
Contract becomes guaranteed if not waived by July 1
*Horford and Baynes have player options and cannot be traded until they opt into their contracts for 2019-20.
Complicating factors
Making the money work if Horford and Baynes opt out of their deals. The Celtics would have only seven players to trade, and that includes Hayward's $32.7 million contract (not counting his $4.9 million trade bonus).
Let's try this again: Los Angeles Lakers
After seeing their numerous trade proposals rebuffed at the deadline, the Lakers will have to wait until the summer to pursue Davis. Despite receiving a solid offer that included two first-round picks along with Lonzo Ball, Kyle Kuzma, Brandon Ingram and salary relief with the Solomon Hill contract, New Orleans decided to pass.
The big question now: Will Los Angeles offer the same package in the offseason?
Off the table: LeBron James
Not available: Kentavious Caldwell-Pope (free agent), Rajon Rondo (free agent), Lance Stephenson (free agent), JaVale McGee (free agent), Reggie Bullock (free agent), Mike Muscala (free agent) and Tyson Chandler (free agent)
Draft assets
Own all future first-round picks (2019-2025)
Own all future second-round picks except for 2019
Cash to be sent out and received: $5.6 million
Have the draft rights to two players
Tradable contracts (2019-20 season)
1. Lonzo Ball: $8.7 million, restricted free agent in 2021
2. Brandon Ingram: $7.3 million, restricted free agent in 2020 and extension-eligible in July
3. Moritz Wagner: $2.0 million, restricted free agent in 2022
4. Kyle Kuzma: $2.0 million, restricted free agent in 2021
5. Josh Hart: $1.9 million, restricted free agent in 2021
6. Isaac Bonga: $1.4 million, restricted free agent in 2021
Complicating factors
Los Angeles is left with only six tradable contracts (not including LeBron) in the offseason. The Lakers project to have $36 million in room and could use the available cap space as a buffer to make a deal work. They could use their own free agents in a sign-and-trade, but that would require each player signing off on a deal and the Pelicans taking back unwanted salary.
The Lakers can add a third max player but would have to sign that free agent first and then acquire Davis in a trade. In this scenario, the Lakers would have to wipe the slate clean and trade all their players.
If the Lakers take back Solomon Hill's contract, their cap space for 2019-20 projects to be $14 million. That can increase to $26 million if only Davis and James are left on the roster and Hill is waived using the stretch provision.
Without taking on Hill in the deal and leaving just Davis and James on the roster, the Lakers are left with $30.5 million in room.
The only way for the Lakers to have cap space in 2020 if Davis hits free agency is to yet again sign players to one-year deals.
The impact of the lottery: New York Knicks
The Knicks are on this list because of their 14 percent chance to land the No. 1 pick if they finish the season with the worst record in the NBA. If fortune finds its way to New York, the team could either keep a player such as Zion Williamson and try to fill two max salary slots this summer or use the Duke star for a potential Davis trade.
As ESPN's Kevin Pelton outlined here, there is a clear path to signing two max players and putting together a package for Davis.
Off the table: DeAndre Jordan (free agent), Wesley Matthews (free agent), Mario Hezonja (free agent), Emmanuel Mudiay (restricted free agent), Allonzo Trier (team option), Luke Kornet (restricted free agent), Noah Vonleh (free agent)
Draft assets
Own all future first-round picks (2019-2025), including a potential top-five pick in June
Own an unprotected first-round pick in 2021 from Dallas (if Dallas' protected 2019 first to Atlanta is conveyed)
Own a top-10-protected first-round pick from Dallas in 2023, 2024 or 2025
Own the Rockets' second-round pick in 2019
Own second-round picks from Charlotte in 2020 and 2021
Own future second-round picks starting in 2022
Cash to be sent out and received: $5.2 million
Have the draft rights to two players
Tradable contracts (2019-20 season)
1. Lance Thomas: $7.6 million, under contract through 2019-20
Contract for next season is non-guaranteed with $1 million in protection if not waived by June 30
2. Frank Ntilikina: $4.9 million, restricted free agent in 2021
3. Dennis Smith Jr: $4.7 million, restricted free agent in 2021
4. Kevin Knox: $4.4 million, restricted free agent in 2022
5. Allonzo Trier: $3.6 million, restricted free agent in 2020 (team option)
6. Mitchell Robinson: $1.6 million, under contract through 2021-22
7. Damyean Dotson: $1.6 million, restricted free agent in 2020
Contract for next season becomes fully guaranteed if not waived by July 15
Complicating factors
Trier has a team option and cannot be traded until it is exercised.
Thanks for the invite: Milwaukee Bucks
Though it is nice to be on Davis' list, Milwaukee does not have the right assets to make a deal. As ESPN's Kevin Pelton outlined, aside from Giannis Antetokounmpo, the roster is made up of expiring contracts that would hold little interest for the Pelicans.
Off the table: Giannis Antetokounmpo
Not available: Eric Bledsoe (free agent), Khris Middleton (player option), Nikola Mirotic (free agent), Brook Lopez (free agent), Malcolm Brogdon (restricted free agent), Christian Wood (restricted free agent)
Draft assets:
The earliest Milwaukee can trade a first-round pick is 2024
Own second-round picks in 2022 (own) and 2023 (own)
Cash to send out and receive $5.6 million
Tradable contracts (2019-20 season):
1. George Hill: $19 million, under contract through 2019-20
Hill has $1 million in guaranteed salary for next season. The remaining portion becomes protected if not waived by July 1.
2. Tony Snell: $10.6 million, under contract through 2021-22
3. Ersan Ilyasova: $7.0 million, under contract through 2020-21
4. D.J. Wilson: $2.5 million, restricted free agent in 2021
5. Donte DiVincenzo: $2.5 million, restricted free agent in 2022
6. Pat Connaughton: $1.6 million, under contract through 2019-20
Contract for next season becomes fully guaranteed on July 1
7. Sterling Brown: $1.4 million, under contract through 2019-20
Contract for next season becomes fully guaranteed on July 1
Complicating factors
Only the guaranteed portions of the contracts for Hill, Connaughton and Brown can be used in a trade.
Cap space and draft assets: LA Clippers
The Clippers entered back into the Davis trade dialogue when they moved Tobias Harris to Philadelphia for two future first-round picks. Those two assets, a list of valuable players and the ability to absorb contracts check most of the boxes for New Orleans. Without Davis, LA will have at least $44 million in room to use in free agency.
Not available: Wilson Chandler (free agent), Ivica Zubac (free agent), Milos Teodosic (restricted free agent), Patrick Beverley (free agent), Luc Mbah a Moute (free agent), Garrett Temple (free agent) and JaMychal Green (free agent)
Draft assets
Own a lottery-protected 2020 first-round pick from Philadelphia and an unprotected 2021 first-round pick from Miami. Their own first-round pick cannot be traded until 2021.
Own second-round picks in 2019, 2020, 2023, 2024 and 2025. Also own Portland's second-rounder in 2010.
Cash to be sent out and received: $5.6 million
Have a $9.8 million trade exception
Have the draft rights to one player
Tradable contracts (2019-20 season)
1. Danilo Gallinari: $21.6 million, under contract through 2019-20
2. Lou Williams: $8.0 million, under contract through 2020-21
3. Montrezl Harrell: $6.0 million, under contract through 2019-20
4. Shai Gilgeous-Alexander: $3.4 million, restricted free agent in 2022
5. Jerome Robinson: $3.0 million, restricted free agent in 2022
6. Landry Shamet: $2.0 million, restricted free agent in 2022
7. Tyrone Wallace: $1.6 million, restricted free agent in 2020
Non-guaranteed contract for next season
8. Sindarius Thornwell: $1.4 million, restricted free agent in 2020
Non-guaranteed contract for next season that becomes fully protected if not waived by July 20
Complicating factors
Tyrone Wallace has veto power on any trade.
Only the guaranteed portion of each contract can be used in trades for Thornwell and Wallace.
The cost of breaking up a 50-win team: Denver Nuggets
It's still unknown how far this Denver team can advance in the playoffs. What we do know is that any pursuit of Davis would see a deep roster become gutted.
Paul Millsap and a combination of Malik Beasley, Gary Harris, Will Barton and Monte Morris would likely be on their way out. Is losing those players for one year with a top-five player worth it? I don't think so.
Off the table: Nikola Jokic, Jamal Murray
Not available: Trey Lyles (restricted free agent), Tyler Lydon (free agent), Isaiah Thomas (free agent)
Draft assets
Once the draft commences, Denver can trade all future first-round picks starting in 2020
Own second-round picks in 2023, 2024 and 2025
Can send out $5.2 million and receive up to $5.1 million cash in trades
Tradable contracts (2019-20 season)
1. Paul Millsap: $30.0 million, under contract through 2019-20
Millsap has a team option for 2019-20 (would need to be exercised to be traded)
2. Gary Harris: $17.8 million, under contract through 2021-22
3. Mason Plumlee: $14.0 million, under contract through 2019-20
4. Will Barton: $12.8 million, under contract through 2022-23
5. Michael Porter Jr.: $3.4 million, restricted free agent in 2022
6. Juan Hernangomez: $3.2 million, restricted free agent in 2020
Can sign a rookie extension this summer
7. Torrey Craig: $2.0 million, restricted free agent in 2020
8. Malik Beasley: $2.7 million, restricted free agent in 2020
Can sign a rookie extension this summer
9. Monte Morris: $1.6 million, under contract through 2020-21
10. Jarred Vanderbilt: $1.4, restricted free agent in 2021
Complicating factors
The core would be broken up without a guarantee that Davis would commit past 2019-20.
The Kawhi impact: Toronto Raptors
Toronto enters into the picture only if Kawhi Leonard returns. If he does, would Masai Ujiri follow the blueprint from last summer when he pursued Leonard?
The Raptors have a combination of young players in Pascal Siakam, Fred VanVleet and OG Anunoby and expiring contracts in Kyle Lowry and Serge Ibaka to put in a deal.
Not available: Kawhi Leonard (free agent), Danny Green (free agent), Patrick McCaw (restricted free agent)
Draft assets
Once the draft commences, Toronto can trade all future first-round picks starting in 2020
Own all future second-round picks (2019-2025)
Have the draft rights to two players
Cash to be sent out and received: $5.6 million
Tradable contracts (2019-20 season)
1. Kyle Lowry: $31.2 million, under contract through 2019-20
2. *Marc Gasol: $25.6 million, player option for 2019-20
2. Serge Ibaka: $21.6 million, under contract through 2019-20
4. Norman Powell: $9.4 million, under contract through 2022-23
5. Fred VanVleet: $8.7 million, under contract through 2019-20
6. Pascal Siakam: $1.5 million, restricted free agent in 2020
Extension-eligible in July
7. OG Anunoby: $1.9 million, restricted free agent in 2021
*Gasol would need to opt into his contract to be traded
Complicating factors
Lack of certainty that Leonard returns and trying to make the money work if Gasol opts out.