NBA trade grades: Breaking down the most impactful deals

New Orleans Pelicans: B

In the short term, we know the Pelicans are headed toward the lottery. With Ingram an impending free agent and New Orleans bumping up against the luxury tax, getting value was undoubtedly the right move for the Pelicans.

Perhaps the most interesting element of this trade from New Orleans' standpoint is bringing back Olynyk, who is guaranteed $13.4 million in 2025-26. That cuts into the Pelicans' spending power. New Orleans essentially chose Olynyk over the possibility of using the non-taxpayer midlevel exception this summer. Unless that was a requirement of the trade, I would rather have kept the spending power.

The shooting and playmaking Olynyk provides as a big man are a nice offensive complement to Zion Williamson, who has never played with a legitimate stretch 5. Olynyk, a 37% career 3-point shooter who can also serve as an offensive hub on the perimeter, will open things up for Williamson. At the other end, however, Olynyk is not the kind of rim protector the Pelicans would prefer to have at center. As for Brown, making $23 million in the final season of his contract, a buyout seems likely unless another trade emerges Thursday. Because Brown is making more than the non-taxpayer exception, only teams below the lower luxury tax apron could sign him after a buyout. That means a rumored return to the Denver Nuggets, with whom Brown won the 2023 title as sixth man, would require them to shed more than $6 million in salary before the deadline.

The first-round pick New Orleans got, via the Pacers in 2026, figures to have limited upside given Indiana's youth and depth. Nonetheless, it's useful for the Pelicans to have an extra pick after exhausting their supply in the Dejounte Murray trade. Before this move, New Orleans could only get an additional first-round selection if Milwaukee moves into the top four this year via the lottery. (Otherwise, that pick goes to Atlanta.)

Feb. 5: Kuzma-Middleton deal changes Milwaukee's timeline

Milwaukee Bucks get:

F Kyle Kuzma
F Patrick Baldwin Jr.
Second-round draft compensation

Washington Wizards get:

F Khris Middleton
G AJ Johnson
2028 first-round pick swap

Milwaukee Bucks: C

For now, I would consider this trade a financial one with a basketball guise. Swapping out Middleton's $31.7 million cap hit for Kuzma, who counted at $23.5 million before adding part of his 15% trade bonus, cuts the Bucks' luxury tax bill by almost $30 million this season in addition to taking them below the second luxury tax apron.

It's the apron math that stands to potentially help Milwaukee on the court this season. Per ESPN's Bobby Marks, that required Kuzma to waive a portion of his bonus, leaving the team just below the restrictive second apron. The Bucks are free to aggregate salaries in trade, so long as they don't bring more back than they send out, and have a couple of days to replace Middleton's playmaking in another deal.

Barring additional needle-moving trades, this feels a lot like Milwaukee conceding this team isn't capable of winning a championship right now. The Bucks' best hope of reaching that level of play for the first time since pairing Damian Lillard with Giannis Antetokounmpo was either getting Middleton fully healthy or trading him for a third star. Both options are now off the table.

Middleton had been scoring better lately, reaching 20 points three times in the past four games -- as many as the first 19 games he played coming back from offseason surgery on both ankles. Alas, sprinkled in were scoreless efforts in two of Milwaukee's three losses on a 1-3 road trip.

Getting Middleton back didn't lift the Bucks out of the middle of the Eastern Conference playoff picture. At 26-22, they're two games back of Indiana for the fourth seed in the East and home-court advantage in the first round. There is little indication -- save a resounding NBA Cup final victory over the Thunder in December -- to suggest Milwaukee is a legitimate contender.

A year ago, the Bucks could at least point to dominating opponents with both stars on the court to the tune of a plus-10.2 net rating, per Cleaning the Glass. This season, that's down to plus-4.7.

Adding Kuzma doesn't figure to change that. Since trading Jrue Holiday to get Lillard, Milwaukee has lacked players who can contribute at both ends of the court. At best, Kuzma is neither a great 3-point shooter (33% career) nor an above-average defender. Kuzma's strongest skill, creating his own offense, is duplicative on a team that already has Bobby Portis coming off the bench, let alone Antetokounmpo and Lillard.

Kuzma has been far from his best this season, shooting career lows on 2s (50%) and 3s (28%). The Bucks are banking on that being some combination of a slump and the effect of playing on the NBA's worst team, and there's reason to believe he could bounce back. Per Second Spectrum, Kuzma's shot quality is the best of his Wizards career when factoring in location, shot type, distance to nearby defenders and his skill.

Perhaps this is the first part of a multistep process to reshape Milwaukee's roster and those other deals will aggregate multiple Bucks players to return two-way contributors. Until then, saving money and getting out of the second apron -- preventing Milwaukee's 2032 first-round pick from being frozen for trade purposes this summer -- while swapping Middleton's production for the more reliable Kuzma feels like a retreat.

The Bucks will save even more in 2025-26. Middleton has a player option with a base value of $33.3 million, Kuzma's cap hit decreases to $22.5 million and Baldwin will be off the team's books. That could make it easier for Milwaukee to re-sign starting center Brook Lopez or, alternatively, use the non-taxpayer midlevel exception to replace him.

Going into the second apron felt like an acceptable risk for the Bucks when they envisioned an Antetokounmpo-Lillard duo taking them deep into the playoffs and perhaps adding a championship to their 2021 title. For now, winning the NBA Cup stands as the high point of the Lillard era in Milwaukee. Perhaps the Bucks should have drunk the champagne.

Fantasy fallout: Is Kuzma a better option on the Bucks?

Washington Wizards: B

Johnson fits far better on the rebuilding Wizards than he did the veteran Bucks. Drafted No. 23 by Milwaukee after playing professionally in Australia, Johnson gives Washington four players selected in the first round from 2024 -- all of them 20 or younger. Johnson should have a long runway to develop with the Wizards and a path toward NBA minutes over the second half.

Most of Johnson's rookie campaign has been spent in the G League, where he's rated worse than replacement level according to my WARP metric. Turnovers are a major issue for Johnson, who has averaged nearly three per game. He also must improve his finishing, having made just 47% of his 2-point attempts.

It will be interesting to see how Washington manages Middleton if he's not rerouted prior to Thursday's deadline. Middleton might be interested in a buyout, but unless he's willing to forego his 2025-26 player option, the Wizards will probably want to keep him on the books to be used as an expiring contract next summer.

If he plays in Washington, Middleton could rebuild his value by staying healthy, having played just 111 of a possible 212 games dating to 2022-23. He has shot the ball quite well this season and is just two missed free throws away from 50/40/90 splits. That efficiency is partially explained by Middleton creating his own offense less frequently; his 22% usage rate is his lowest in the past decade.

With the Wizards, Middleton will have more opportunity to stretch his legs offensively and remind contenders that he's still capable of averaging 19.6 points and 6.9 assists per 36 minutes on a good team.

As for the pick swap, it's an upside play. Milwaukee having a worse record than Washington is plausible by 2027-28 -- the Wizards rookies will be wrapping up their first contracts and Antetokounmpo could already have become a free agent -- but it's hardly a likely scenario given their starting points.

Feb. 5: Bucks add a reserve center

Milwaukee Bucks get:

C Jericho Sims

New York Knicks get:

G Delon Wright
Cash considerations

Note: This transaction was part of the trade that involved Kyle Kuzma joining Milwaukee from Washington in exchange for Khris Middleton.

Milwaukee Bucks: B

The Bucks' inability to get stops with Brook Lopez on the bench has been an underrated element of their disappointing season. Milwaukee's defensive rating ranks in the 8th percentile leaguewide without Lopez, per Cleaning the Glass -- a result that can't be attributed to shooting randomness. Those lineups, most of which feature Giannis Antetokounmpo and sixth-man Bobby Portis up front, have struggled badly to rebound and keep opponents off the foul line.

At a listed 6-foot-10, 245 pounds, Sims could give the Bucks bench units more force in the paint. Sims fell out of the Knicks' rotation with Precious Achiuwa's return because he provides so little on offense. Sims' 7.5% usage rate is second lowest among all NBA regulars behind Dwight Powell -- and also the highest of his career.

Barring offensive improvement, Sims is probably best cast as a third center capable of giving a few fouls if necessary.

New York Knicks: B

With Mitchell Robinson progressing in his recovery from May ankle surgery, trading Sims helps rebalance the Knicks' roster. In a pinch, New York still has second-round pick Ariel Hukporti, who played 19 minutes in Tuesday's win over the Toronto Raptors.

I'm curious whether Wright will get a chance to play for the Knicks after logging just 405 minutes in Milwaukee. Wright shot a dreadful 30% on 2s and 24.5% on 3s, but the sample size was tiny, and Wright was more effective for the Miami Heat after last season's trade deadline.

The guard position doesn't really seem like a need for New York with Miles McBride as the team's top reserve and Cameron Payne having a terrific year. Still, any reserve coach Tom Thibodeau will trust is a plus for the Knicks.

Feb. 5: Valanciunas gives Kings a boost at center

Sacramento Kings get:

C Jonas Valanciunas

Washington Wizards get:

G Sidy Cissoko
2028 second-round pick (via Denver)
2029 second-round pick

Sacramento Kings: B+

Consider this part two of the trade that landed De'Aaron Fox in San Antonio and brought Zach LaVine to the Kings as his replacement. Cissoko and the Denver second-round pick Sacramento is sending Washington were acquired in that three-team deal. Perhaps more importantly, trading Kevin Huerter to Chicago gave the Kings the ability to add Valanciunas' salary without worrying about the luxury tax.

Sacramento's decision not to use that salary flexibility to take back Tre Jones, who also went to the Bulls in the Fox deal, was a tell that the Kings considered the frontcourt a bigger need than a traditional point guard to replace Fox. Between LaVine, Malik Monk, DeMar DeRozan and rookie Devin Carter, Sacramento has plenty of ballhandlers but not much size on its bench.

Valanciunas, listed at 6-foot-11 and 265 pounds, certainly brings plenty of heft. Sacramento had primarily been using the 6-foot-9 Trey Lyles, more of a power forward, as its backup to starting center Domantas Sabonis. Valanciunas is not only a better matchup for big opponents but also allows interim coach Doug Christie to give Lyles more minutes at his natural position with the second unit.

Although we think of Valanciunas primarily as a post scorer, or mashing the offensive glass, he's accomplished as a roll man as well. Sabonis is one of just six centers in the league who have set more on-ball picks over the past six seasons than Valanciunas, per Second Spectrum tracking.

I am curious whether Christie will consider playing Sabonis and Valanciunas together. The two have teamed for the Lithuania national team as starters, most recently at the 2022 EuroBasket tournament, when they combined to average 28.7 PPG and 17.8 RPG in a run to the round of 16. The ability for both players to step out to the 3-point line makes the pairing viable offensively, though it might require playing zone at the other end rather than asking Sabonis to chase power forwards around the perimeter.

The Kings' books are in good shape for 2025-26, when they will probably have a choice between re-signing Lyles as an unrestricted free agent or using their full non-taxpayer midlevel exception to have depth. By 2026-27, Sacramento will be able to get out of Valanciunas' contract if needed because his $10 million salary is non-guaranteed.

Washington Wizards: B+

As expected, the trade market for Valanciunas heading into the deadline was more robust than the competition to sign him as an unrestricted free agent last summer. The Wizards stepped into that void to sign him to a trade-friendly contract and got a veteran complement to No. 2 overall pick Alex Sarr for three and a half months before moving Valanciunas to a competitive team.

Neither second-round pick Washington acquired is particularly juicy, but the Wizards also created a $9.9 million trade exception for the value of Valanciunas' salary.

Feb. 5: Celtics get tax relief; Springer gives Rockets depth

Boston Celtics get:

2031 second-round pick (top-55 protected)

Houston Rockets get:

G Jaden Springer
2030 second-round pick

Boston Celtics: B

The Celtics gave up a second-round pick on both ends of Springer's time in Boston, having sent the pick that became Adem Bona to the Philadelphia 76ers for Springer at last year's deadline and now sending a 2030 second-rounder to shed his salary.

In between, Springer made limited impact, logging just 271 minutes for the Celtics. The vision for Springer as a tougher perimeter defender than Boston's other backup guards was briefly realized when he played 20 minutes in a second-half comeback against the LA Clippers last month. But Boston's guard rotation is tough to crack, and Springer's offense has yet to prove NBA-caliber.

Because the Celtics are so far over the luxury tax line, replacing Springer (making $4 million in the final year of his rookie contract) with a player signed for the veteran's minimum would save Boston more than $12 million in tax payment. The Celtics could increase those savings by waiting a couple of weeks to add a 14th player, and/or by promoting 2024 second-round pick Anton Watson from a two-way to a full NBA contract.

Either way, this move is unlikely to affect Boston's chances at repeating. Down the road, the Celtics also generate a small $4 million trade exception that could help them add salary this summer -- if they have the appetite for a higher tax bill.

Houston Rockets: A

It's possible Springer could help the Rockets with starting point guard Fred VanVleet sidelined by an ankle strain suffered Saturday. Houston coach Ime Udoka told reporters that VanVleet is "week-to-week" rather than day-to-day.

Ideally, VanVleet's injury will give more opportunities to No. 3 pick Reed Sheppard, whose 28 minutes Tuesday against Brooklyn were a season high. Sheppard responded with 16 points and seven rebounds, both career highs, and dominated during his brief G League stint.

Springer brings the Rockets a different dimension -- bigger than the 6-foot Aaron Holiday, who started Tuesday's game. Even when VanVleet returns, Springer could help Houston defensively in certain matchups, particularly if wing Dillon Brooks gets in foul trouble.

If not, no biggie for the Rockets, who were able to add Springer's salary using their non-taxpayer midlevel exception and are safely below the luxury tax line. Springer can be a restricted free agent this summer, at which point Houston has no commitment to him.

Feb. 5: Sixers deal KJ Martin to Pistons in cost-saving move

Detroit Pistons get:

F KJ Martin
2027 second-round pick (via Milwaukee)
2031 second-round pick (via Dallas)

Philadelphia 76ers get:

Cash considerations

Philadelphia 76ers: B+

Trading Martin didn't go quite as the 76ers envisioned when they re-signed him last summer to a two-year deal with only the 2024-25 salary guaranteed. The idea then was that Philadelphia could utilize Martin's minimum cap hold to create an expiring contract and load up at the deadline. With the Sixers instead battling for the play-in, getting off Martin's $7.98 million salary to avoid the luxury tax cost them a pair of second-round picks.

Beyond the financial implications of saving $10-plus million in taxes and being eligible for the distribution to non-tax-paying teams, there could be basketball benefits to this trade too. Philadelphia moved below the lower luxury tax apron, meaning the 76ers are now eligible to fill the roster spot they created with buyout players previously making more than $12.8 million (the value of the non-taxpayer midlevel exception).

Down the road, Martin's contract might still enable Philadelphia to add players. The Sixers will create a $7.98 million trade exception for the value of Martin's salary, which could be useful if they don't have access to the non-taxpayer midlevel exception this summer based on other spending.

In hindsight, Philly would have probably chosen to forgo re-signing Martin and retain the second-round picks. But avoiding the tax and creating the trade exception was worth the cost.

Detroit Pistons: B-

I originally wrote that the Pistons were using their $14 million in cap space -- Detroit is the only NBA team with any room at all -- to take in Martin, but that may not be the case. Because Martin's salary fits into the Pistons' room exception, they can exhaust their cap space first if another deal comes together prior to the deadline, then add Martin using the exception.

The value of taking on nearly $8 million in salary still feels a tad low. After all, the Jazz got a pair of second-round picks on Saturday for taking back the much smaller salary of guard Jalen Hood-Schifino ($3.9 million) to facilitate the three-team trade featuring Luka Doncic and Anthony Davis.

It's possible the Pistons think Martin can help their playoff push if he's able to return from a stress reaction in his left foot. Martin was an opening-night starter for Philadelphia and averaged 20 MPG prior to the trade. He's 24 and two years removed from averaging 12.7 PPG as a key reserve with Houston. However, Martin's limited shooting (he has attempted just 49 3s the past two seasons) has made it difficult to keep him on the court for extended minutes.

Feb. 5: Theis gives OKC an additional big man

Oklahoma City Thunder get:

C Daniel Theis

2031 second-round pick (least favorable of New Orleans and Orlando)

New Orleans Pelicans get:

Cash considerations

Oklahoma City Thunder: B+

With their combination of tradable contracts and a horde of future first-round picks, the Thunder have the ability to load up around their core in preparation for a title run. Making this deal now to fill the team's open roster spot suggests Oklahoma City's deadline will likely be more modest in scope.

Theis does fill a need for frontcourt depth. Because Isaiah Hartenstein and Chet Holmgren have yet to play together, the Thunder have cycled through big men on short-term contracts, most recently rookie Branden Carlson. Carlson's second 10-day contract expired last week, but we'll always have his 11 points in 17 minutes as Oklahoma City blew out the Cavaliers on national TV last month.

Now joining his seventh NBA team -- not counting two different stints with the Celtics -- Theis is an experienced center capable of playing power forward in a pinch. He gave the Clippers good minutes as a backup last year, shooting 37% on 3s, but had been less effective during a brief stay with the Pelicans.

Having begun the season as New Orleans' starting center, Theis lost his job to rookie Yves Missi and shot just 24% beyond the arc. Theis' 12% usage rate with the Pelicans would be a career low, and is unlikely to rebound as he approaches his 33rd birthday in April.

Ideally, Theis will sop up some backup minutes for the Thunder before Holmgren returns and be available in case of emergency come the playoffs.

New Orleans Pelicans: B

The Pelicans remain one of two teams never to pay the luxury tax, along with Charlotte. This is the second consecutive year New Orleans started the season in the tax and wriggled out via trade.

Given the Pelicans are 14th in the West and have multiple starters out for the season, paying the tax would have been nonsensical. New Orleans is better off giving minutes to rookie Karlo Matkovic to see whether he can be a long-term backup for Missi.

Pending additional trades, staying below the tax line will require the Pelicans to keep the roster spot created by this trade open for the maximum two weeks before getting back to 14 players. At that point, New Orleans could promote Brandon Boston Jr. from a two-way contract.

Feb. 4: Mavs' move for Caleb Martin; 76ers get younger

Dallas Mavericks get:

F Caleb Martin

Philadelphia 76ers get:

G Quentin Grimes
2025 second-round pick (own)

Philadelphia 76ers: A

Consider this the 76ers taking a mulligan after signing Martin to a four-year contract worth up to $40 million in July.

At the time, it seemed like a coup for Philadelphia given the team's limited cap space after landing Paul George and the need to fill out a starting five. I ranked it second among my "A" grades in free agency because of the creativity, including $5 million in unlikely incentives that didn't count against the cap. Seven months later, I'm less convinced.

Martin obviously hasn't been the problem during the 76ers' sub-.500 season, but he hasn't been a solution either. Despite shooting 38% from 3-point range -- better than his career mark of 36% -- Martin has scored with below-average efficiency because he's making just 47% inside the arc, his lowest mark since 36% as a rookie.

Defensively, Martin hasn't been a difference-maker. He has taken on relatively difficult assignments, with an opponent usage rate of 23% according to analysis of Second Spectrum tracking -- highest among all Philadelphia players -- but he hasn't impacted the team's defensive rating. A recent four-game win streak came with Martin sidelined by a hip sprain (he's due back soon) and two-way rookie Justin Edwards filling in capably in the starting lineup.

As compared to Martin, Grimes -- shooting a robust 40% from 3-point range, plus 54% inside the arc -- has simply been the better player this season. He can reduce Philadelphia's dependence on the aging duo of Eric Gordon (36) and Kyle Lowry (39 in March), who have been primary options for coach Nick Nurse at shooting guard since early Rookie of the Year front-runner Jared McCain was lost to a season-ending meniscus injury.

Better yet for the 76ers, Grimes is both younger (24) and has a lower salary than the 29-year-old Martin. Swapping out Martin's $8.1 million cap hit for Grimes, making $4.3 million in the final year of his rookie contract, saves Philadelphia some $8 million in luxury tax payments and puts the team within striking distance of avoiding the tax altogether.

A restricted free agent this summer, Grimes is surely due for a raise. I'd still rather have his next contract, taking Grimes through his prime years, than Martin for the next two seasons (plus a player option in 2027-28).

Given all that, it's fairly remarkable the Sixers are the team netting out a draft asset in this deal, getting back their 2025 second-round pick. If Philadelphia can't climb out of the lottery via the play-in, the 76ers might not benefit from their first-round pick, which goes to the Oklahoma City Thunder unless Philadelphia is drawn in the lottery's top four. In that scenario, Philly will at least get a good second-round pick out of a lost season.

Dallas Mavericks: C-

Grimes was an obvious trade candidate after the Mavericks acquired Max Christie as part of the Luka Doncic-Anthony Davis trade. Christie offers a similar 3-and-D skill set but is even younger (22 next week) and signed through 2026-27 on what now looks like a value contract.

Still, Martin is an unexpected target. Having traded Doncic, Dallas seemed more likely to go after another ball handler to supplement Kyrie Irving and veteran Spencer Dinwiddie. This deal suggests the Mavericks believe in Jaden Hardy filling that role and saw the wing position as a bigger need.

Certainly, I can see how it might work for Dallas. Martin's opponent usage is also higher than any Mavericks defender, with P.J. Washington's 22% leading the team. Washington, Grimes and Naji Marshall had shared wing stopper responsibilities for the Mavericks after the departure of Derrick Jones Jr. in free agency, and Martin is probably an upgrade there.

Ideally, Dallas will get the playoff version of Martin, who was a key factor in the Miami Heat's 2023 Finals run. Martin is a career 40% 3-point shooter in the playoffs, and at that level of shooting he'd become a better wing option for coach Jason Kidd than Grimes or Marshall.

The Mavericks are staking a fair bit financially on that bet. Poking a stick in the eye of skeptics who believed Dallas was being cheap by trading Doncic and wiggling under the luxury tax line, Dallas went back into the tax with this trade. The Mavericks probably will have to find a new home for veteran center Dwight Powell before Thursday's deadline to avoid paying the tax, and that might also require Irving missing his two incentives (playing at least 65 games or playing 58 games and the team winning 50 games, per ESPN's Bobby Marks).

Down the road, the Mavericks are committing to Martin even more than the Sixers were. Unless Martin follows Davis' lead in forgoing his trade bonus -- a decision that facilitated this deal, which triggers a hard cap for Dallas at the lower luxury tax apron that Davis' kicker would have pushed them past -- Martin adds another $1 million-plus to his salary over the next three seasons. Philadelphia has to pay out the trade bonus, but it will hit Dallas' salary cap.

Ultimately, I would have viewed Martin's remaining contract as having negative trade value and wanted a draft pick to take him on rather than sending one out with a quality young player. Once again, the Mavericks' valuation of players differs from consensus.

Feb. 2: Spurs get Fox; LaVine joins Kings from Bulls

San Antonio Spurs get:

G De'Aaron Fox
G Jordan McLaughlin

Sacramento Kings get:

G Zach LaVine
G Sidy Cissoko

2025 first-round pick (top-14 protected; via Charlotte)
2027 first-round pick (via San Antonio)
2031 first-round pick (via Minnesota)
2025 second-round pick (via Chicago)
2028 second-round pick (via Denver)
2028 second-round pick (own)

Chicago Bulls get:

F Zach Collins
G Tre Jones
G Kevin Huerter
2025 first-round pick (own; via San Antonio)

San Antonio Spurs: A-

It's unclear if a perfect trade target would have ever come available for the Spurs, considering Fox named the team as a desired destination. Victor Wembanyama's precocious ability puts inherent pressure on the Spurs to build a team capable of making a playoff run sooner rather than later. I think San Antonio played this right by being aggressive in pursuit of Fox without being reckless.

Sacramento Kings: B-

Dare we consider the possibility the Kings will actually improve over the rest of this season thanks to this trade? LaVine has managed to come back looking much like the high-flying star who was an All-Star in 2021 and 2022. For this trade to work, the Kings will need LaVine to keep that up over the remaining two seasons on his deal beyond 2024-25.

Chicago Bulls: B+

The trade appeals more from the big-picture standpoint than in terms of the details. Moving LaVine while he's healthy and playing well is the kind of realistic self-assessment we haven't seen from Chicago in recent years, when the Bulls have resisted tearing down a roster with little upside.

- Read the trade's full breakdown, including what's next for all 3 teams

Feb. 2: Luka to the Lakers?! Why Dallas fails despite adding AD

Los Angeles Lakers get:

G Luka Doncic
F Maxi Kleber
F Markieff Morris

Dallas Mavericks get:

C Anthony Davis
G Max Christie
2029 first-round pick (via Lakers)

Utah Jazz get:

G Jalen Hood-Schifino

2025 second-round pick (via LA Clippers)
2025 second-round pick (via Dallas)

Los Angeles Lakers: A

Given that Doncic will turn 26 later this month and has a full season on his contract before a 2026-27 player option, there's a reasonable argument that he is the most valuable player at the time of being traded in modern NBA history. For the Lakers to land Doncic without even exhausting their supply of draft picks is an incredible coup that sets up the next generation of success for one of the league's most storied franchises.

Dallas Mavericks: F

The biggest issue here is simply the aging curve. As he approaches his mid-30s, Davis is likely to see his production decline just as Doncic is reaching his peak years. By 2027, when Dallas will send a top-2 protected pick to the Charlotte Hornets from the P.J. Washington deal, Davis will be 34. By 2030, when the last of the Mavericks' pick obligations (a swap with the San Antonio Spurs) conveys, Davis will be 37. It's probable Davis will still be a good player by then, perhaps even an All-Star. It's unrealistic to expect he'll be as good as Doncic.

- Read the trade's full breakdown, including other winners and losers

Feb. 1: After Tucker deal, more moves coming for the Clippers?

LA Clippers get:

C Drew Eubanks
G Patty Mills

Utah Jazz get:

F P.J. Tucker
C Mo Bamba
2030 second-round pick
Cash considerations

LA Clippers: B+

The Clippers trading Tucker was one of the safest bets on the board leading up to Thursday's deadline. Tucker, making $11.5 million in the final year of a contract originally signed with the Philadelphia 76ers, had not joined the team this season as both sides awaited a deal.

This particular construction saves the Clippers enough that there could be additional moves to come before the deadline. They cut $6.5 million in salary, moving them $4 million below the tax line while creating a trade exception of that same amount to go along with the expiring $4.1 million salary of little-used guard Bones Hyland as potential options for another deal before Thursday.

For now, just how good this trade is for the Clippers depends how much they've upgraded at backup center in addition to benefiting financially from being eligible to receive distribution from taxpaying teams. Bamba had been solid for the Clippers in that role on a minimum contract, swatting an impressive 8% of opponent 2-point attempts while spacing the floor on offense with occasional 3-pointers.

With Kawhi Leonard adding to the Clippers' impressive wing depth, however, coach Tyronn Lue had taken to playing smaller lineups without a traditional center behind quality starter Ivica Zubac. Bamba had played just five minutes total over the Clippers' past four games.

The veteran Eubanks gives the Clippers a backup more similar to Zubac. Although Eubanks experimented with taking 3s while playing for the Portland Trail Blazers, he has attempted just eight over the past two seasons (making a remarkable six of those). Eubanks' average shot distance, per Basketball-Reference.com, is 5.5 feet -- barely more than a third of Bamba's 14.3 average.

Despite blocking shots less frequently than Bamba, Eubanks has been strong as a rim protector. Opponents are making just 50% of attempts within five feet when Eubanks is the primary defender, per Second Spectrum tracking on NBA Advanced Stats, fifth lowest among players who have defended at least three such shots per game. That's a change from previous seasons, when Eubanks' rim protection was merely average for a center.

The Clippers probably also like Eubanks' modest $4.75 million non-guaranteed salary for 2025-26, which will give them options as they build their roster this summer. At the cost of a second-round pick, the savings plus a possible upgrade at backup center make this deal a solid one for the Clippers.

Utah Jazz: B+

For the Jazz, this deal is essentially using their ability to add salary to buy a second-round pick. Between John Collins sliding to center, two-way contributor Micah Potter and perhaps Bamba, Utah has multiple options to fill Eubanks' minutes on a team headed to the lottery.

Perhaps the bigger loss for the Jazz is the veteran leadership of the 36-year-old Mills, who brought the perspective of a 16-year NBA career to Utah's young backcourt featuring three first-round picks from the past two drafts (Isaiah Collier, Keyonte George and Cody Williams).

Tucker presumably won't report to Salt Lake City, with a buyout the most likely outcome. Still just 15 months removed from beginning the 2023-24 season as the Sixers' starting power forward before being sent to the Clippers in the James Harden trade, Tucker may have something left to offer a contender that doesn't have as many frontcourt options.

Jan. 21: Suns stay busy, restock with 3 first-round picks

Phoenix Suns get:

2025 first-round pick (least favorable of Cleveland/Minnesota/Utah)
2027 first-round pick (least favorable of Cleveland/Minnesota/Utah)
2029 first-round pick (least favorable of Cleveland/Minnesota/Utah)

Utah Jazz get:

2031 first-round pick

Phoenix Suns grade: C-

Consider this rare midseason swap of picks the latest in a series of deals we've seen where teams with a stockpile of first-rounders trade low-value ones for higher-value bets.

As with most trends involving draft picks, the Oklahoma City Thunder more or less invented this concept, sending late first-round picks to the LA Clippers and Dallas Mavericks last season to complete trades for James Harden and Daniel Gafford, respectively, in exchange for merely getting swap rights back. Tuesday's deal extends that logic, with the Suns turning their only tradeable first-round pick into three they can offer, albeit none likely to be particularly good.

Given that history, it's no surprise that Oklahoma City was also interested in making a deal with Phoenix for the Suns' 2031 pick, per ESPN's Tim MacMahon.

From a value standpoint, there's a good chance Phoenix "wins" this trade despite that fact. Even if we project the 2025 first-round pick at No. 30 overall -- possible if the Cavaliers can finish this season with a better record than the Thunder -- and the 2027 and 2029 picks conservatively both at No. 25, their combined worth, according to my pick value chart, will be equivalent to a single No. 6 overall pick before accounting for the fact that distant picks hold less value.

Because teams tend to overvalue how much benefit they'll get from high lottery picks, trading down is typically a beneficial strategy, and that's effectively what the Suns have done by turning one pick into three. Of course, that's probably not why Phoenix made this trade. It's likely the setup to future deals that allow them to split up the first-round picks while converting the underperforming players on their roster with big contracts (Jusuf Nurkic and perhaps Bradley Beal) into replacements who can help them more now.

From that standpoint, the logic behind this trade is fundamentally flawed. When the Clippers and Mavericks made those deals with Oklahoma City, they were hoping to complete contending teams. Dallas proved right, with Gafford starting at center for a team that reached the NBA Finals. The jury is still out on Harden's impact for the Clippers, but there's a plausible path for them to the Western Conference finals this season.

The same can't be said for a Suns team that's battling just to make the play-in tournament. At 21-21, Phoenix would edge out the Golden State Warriors for the 10th and final spot if the season ended today. Sure, the Suns are just two games back of sixth and a guaranteed playoff appearance, but the number of teams ahead of them and a difficult remaining schedule mean Phoenix is unlikely to avoid the play-in. Simulations using the ESPN Basketball Power Index (BPI) show the Suns finishing in the top six just 9% of the time.

After beating Detroit in the debut of center Nick Richards (acquired last week from Charlotte) on Saturday, Phoenix got a reality check Monday in Cleveland, getting blasted by the Cavaliers in a 118-92 loss.

A realistic front office would consider the possibility of trading Kevin Durant before the Feb. 6 deadline to recoup some of the draft picks the Suns are out. Instead, Phoenix has extended the stretch without control of its first-round picks through 2031, meaning the Suns won't benefit from their own losses when they are inevitably forced to rebuild.

Utah Jazz: A-

From the Jazz's perspective, turning excess first-rounders into one with more upside makes sense even if they're overpaying from a strict value standpoint.

Because Utah traded both Rudy Gobert and Donovan Mitchell in the 2022 offseason, the first-round picks they landed in those deals ended up overlapping. The Jazz control first-round picks for the Cavaliers and Timberwolves in the 2025, 2027 and 2029 drafts. Add in their own pick, plus one from the Los Angeles Lakers (top-four protected) in 2027, and that's a lot of rookies to add to their roster in those offseasons.

Even next year, with Utah early in a rebuild, roster spots are at a premium. The Jazz have 11 players under guaranteed contract for 2025-26, plus three more (Devin Ebanks, Johnny Juzang and Svi Mykhailiuk) who are non-guaranteed. Adding three first-round picks, presuming the Jazz don't send their own top-10 protected pick to (who else?) the Thunder, would have been a challenge.

Converting three weak first-rounders into a single one in 2031 -- when Utah doesn't have any additional picks -- fits the Jazz's timeline better. And getting another unprotected pick increases the chances that Utah lucks into a game-changing selection to add to a core that should have turned the corner by that point.

Meanwhile, the Jazz are betting against Phoenix's future. By 2031, it's possible the Suns will have come through the other side of the rebuild they're approaching and have launched back into competing for a playoff spot. We saw the Brooklyn Nets pull that off after giving up multiple picks and swaps in their trade with the Boston Celtics last decade. At the same time, as Phoenix keeps digging its hole deeper, there's potential for an extended bleak stretch.

Ultimately, we're probably going to see many more deals like this over the next five years. It's too difficult for teams like Suns with limited access to first-round picks to make trades without them and too important for teams such as Utah and Oklahoma City to consolidate their stockpiles into higher-value bets.

Jan. 20: Suns upgrade a position of need, get tax relief

Phoenix Suns get:

C Nick Richards
2025 second-round pick (via Denver)

Charlotte Hornets get:

F Josh Okogie
2026 second-round pick (via Denver)
2031 second-round pick (via Denver)
2031 second-round pick (via Phoenix)

Phoenix Suns grade: B+

Of the many reasons that a Suns team with the NBA's highest payroll would not even make the Western Conference play-in tournament if the season ended today, the center position is near the top of the list.

According to my wins above replacement player (WARP) metric, when we group all players on a team by the position they play most frequently, only the Utah Jazz's point guards have rated worse relative to their position than Phoenix's center trio of Jusuf Nurkic, Mason Plumlee and Oso Ighodaro. Collectively, those players have rated nearly three wins below replacement level this season.

Nurkic, the Suns' highest-paid center and starter at the position through late December, is averaging a career-low 13.1 points per 36 minutes and has seen his efficiency drop, spending more time on the perimeter in coach Mike Budenholzer's offense. Nurkic has made a career-high 1.2 3-pointers per game, but at a 32% clip. After coming off the bench twice last week, when Bradley Beal also got replaced in the starting lineup, Nurkic has been a healthy scratch in Phoenix's last four games.

No longer the highflier he was in his younger days, Plumlee is shooting his lowest percentage from the field (56%) since 2016-17 despite an 11% usage rate, seventh-lowest among all players who have seen at least 500 minutes of action. Ighodaro is also in the bottom 10 in that category, and while he brings the most defensive versatility of this group, Ighodaro is also shooting a modest percentage (58%) for his small role.

Richards isn't shooting any better this season (56%) but he has scored more efficiently than any Suns center in a much larger role in Charlotte (17% usage). With better floor spacing, Richards has shown to be hyper-efficient. In 2023-24, his .717 true shooting percentage was fifth-best of any NBA player who saw at least 500 minutes.

Ideally, Richards will be Phoenix's equivalent of two players just ahead of him on that leaderboard: the Dallas Mavericks duo of Daniel Gafford and Dereck Lively II, who provide vertical spacing as lob threats.

Richards isn't at their level defensively, but opponents have made just 57% of their shot attempts within five feet when he is the primary defender according to Second Spectrum tracking on NBA Advanced Stats. That's an upgrade on Nurkic and Plumlee, who have both seen opponents shoot 62% on such attempts this season.

Under contract for this season and next at $5 million each, Richards fits financially on a team over the NBA's second luxury tax apron. In fact, swapping out Okogie's $8.25 million salary for Richards will save the Suns more than $21 million in taxes.

The downside here is Phoenix having few routes to future moves. Okogie's contract was largely signed to be traded -- his $7.75 million salary for 2025-26 is non-guaranteed, and he was unlikely to get nearly as much salary elsewhere on the free agent market. The Suns are also now down to only the 2025 second-round pick they got back in this trade, originally from the Denver Nuggets, as a tradeable second-rounder.

If Phoenix is going to do anything else, whether involving Nurkic -- under contract for $19.375 million for 2025-26 -- or a bigger move with Beal (who has to waive a no-trade clause), that leaves the Suns' 2031 first-round pick as their only attractive draft pick. Until Phoenix is ready to admit the current core can't work, the Suns will likely be limited to making moves around the edges. Adding a center in his prime is a worthy one.

Charlotte Hornets grade: B+

After starting a career-high 51 games for the Hornets in 2023-24, Nick Richards saw his role diminish this season. Starter Mark Williams, who was sidelined nearly a full year by injuries, returned in early December to reclaim his job. As long as he can stay healthy, the 23-year-old Williams is Charlotte's center of the future.

In Williams' absence, newcomer Moussa Diabate gave the Hornets good minutes on a two-way contract. Diabate is shooting 60.5% after hitting just 51.5% of his shots in two seasons with the LA Clippers as a second-round pick and has been a dominant rebounder off the bench. Expect Charlotte to clear a roster spot to sign Diabate to a standard NBA contract by the deadline.

Okogie's defensive impact could have some value to the Hornets, who have cycled through backup wings. During 2022-23, Okogie's first season in Phoenix, the team allowed 5.1 fewer points per 100 possessions with him on the court. Still, Okogie was unable to carve out a bigger role with the Suns in large part due to his unreliable shooting. Okogie is a career 30% 3-point shooter and this season's 38% accuracy has come on just 42 attempts.

Most likely, Okogie won't be long for Charlotte and the Hornets will come away having turned one second-round pick that's likely to fall in the 50s into three, including a pair of dart throws in 2031 that might eventually prove meaningful.

Dec. 29: Finney-Smith gives Lakers flexibility, on and off the court

Los Angeles Lakers get:

F Dorian Finney-Smith
G Shake Milton

Brooklyn Nets get:

G D'Angelo Russell
F Maxwell Lewis
Three second-round picks (2027, 2030 and 2031)

Los Angeles Lakers grade: A-

There's a lot to like about this deal from the Lakers' perspective. Long lacking in two-way role players, the Lakers landed a quality one without giving up a first-round pick while also cutting their luxury tax bill.

The proof of concept for this trade may have come when Russell sat out the Lakers' win over the Golden State Warriors on Christmas due to a left thumb sprain. Without him, Lakers coach JJ Redick leaned heavily on defensive-minded lineups with Max Christie and Gabe Vincent playing the bulk of the second half alongside Rui Hachimura, LeBron James and Austin Reaves. Even with Anthony Davis playing just seven minutes, the Lakers defended well enough to come up with a two-point win against one of their competitors for playoff and play-in positioning.

That game was a reminder that for all the Lakers' bluster about trading for another center, they were better off thinking smaller rather than bigger in terms of trade additions. Davis is best as a center from both a spacing and defensive standpoint, and the Lakers showed in certain matchups they can get away with the 6-foot-8 Hachimura playing the five spot.

Although Russell was still playing a key role off the bench since being demoted from the starting lineup in November, averaging 24.9 MPG, he hadn't been nearly as important to the Lakers' shot creation as last season. Russell's usage and assist rates are down, and the career 37% 3-point shooter had hit just 33% beyond the arc. At that kind of efficiency, it's harder to justify the defensive issues Russell creates as compared to when he was hitting 3s at a 41.5% clip in 2023-24.

By comparison to Christie and Vincent, who have seen an uptick in their minutes during December, Finney-Smith is far more capable as a shooter and more versatile as a defender. He's precisely the kind of player the Lakers have lacked since dealing Kentavious Caldwell-Pope and Danny Green, the starting wings on their 2020 championship team.

The Lakers can't expect Finney-Smith to keep up this season's career-high 43.5% 3-point shooting, but he is at 36% for his career beyond the arc on decent volume (6.7 attempts per 36 minutes). Opponents will have to respect him defensively in a way they didn't necessarily need to do with Christie (36% from 3, but on just 4.1 attempts per 36) or Vincent (33%, right on his career mark).

Christie has been a much-improved perimeter defender this season, stepping into the role of wing stopper and beginning to justify the Lakers' investment in a four-year, $32 million contract for him this summer. A slender 6-foot-6, Christie is better suited to defend ballhandlers and wing shooters than the kind of physical forwards the Lakers can expect to potentially play in the postseason.

Finney-Smith is only an inch taller than Christie, but he has started at both forward spots throughout his career, frequently defending bigger opponents in switch-heavy defenses. According to ESPN Research, Second Spectrum tracking shows that Finney-Smith is the only player in the NBA this season to defend players listed as guards, forwards and centers each for at least 15 half-court matchups per game.

That versatility gives Redick plenty of options for how to deploy Finney-Smith, from big starting lineups alongside the frontcourt of Davis, Hachimura and James to smaller lineups with at least one of those players on the bench and more perimeter defenders on the court.

Financially, this deal works for the Lakers too. Finney-Smith and Milton combined make less than Russell's $18.7 million salary, allowing the Lakers to cut their tax bill by more than $10 million. Milton's contract, designed for inclusion in the Nets' sign-and-trade that sent Mikal Bridges to the New York Knicks, is fully non-guaranteed after this season -- making him something of a free roll off the bench. (If nothing else, Milton gives the Lakers another reliable depth piece, while Lewis had totaled just 29 minutes in the NBA this season.)

Finney-Smith's $15.4 million player option for 2025-26 will give the Lakers a couple of paths. They could hope he exercises the option, which will barely pay him more than the non-taxpayer midlevel exception and would be an expiring contract. That would likely push the Lakers beyond the lower luxury tax apron again next season. Alternatively, they could encourage him to decline the option in favor of a long-term contract that starts at a lower salary but guarantees Finney-Smith more money through his mid-30s.

Because Russell was the Lakers' biggest expiring deal and they can no longer aggregate Finney-Smith with other players to take back more salary in a trade, the downside is the Lakers are unlikely to make a splashy addition before the deadline.

Focusing on big-name scorers instead of role players has long been a weakness for the Lakers. However, this year's team -- sporting the West's 12th-best point differential at minus-2.1 PPG while sitting fifth in the standings -- hasn't shown enough upside to justify giving up their precious remaining first-round picks.

Holding on to those first-rounders while still managing to upgrade on the perimeter makes this trade a strong one for the Lakers.

Brooklyn Nets grade: B

The Nets' end of this trade is interesting because it's rare we have so much detail about an alternative package. Marc Stein reported last week Brooklyn was close to sending Finney-Smith to the Memphis Grizzlies for Luke Kennard and John Konchar, plus the Grizzlies' 2025 first-round pick.

Per league sources, there were two holdups to completing that deal. In addition to Finney-Smith, Memphis wanted Brooklyn's 2025 second-round pick and offered top-17 protection on the first-rounder.

With the Grizzlies unwilling to budge -- and perhaps awaiting more information on the nature of Ja Morant's shoulder injury -- the Nets opted for the Lakers' offer instead.

As appealing as getting a first-round pick for Finney-Smith sounded, if Brooklyn was required to send back its own 2025 second-rounder, that would have lessened the utility. Right now, Memphis' first-round pick would be No. 27, just 10 spots ahead of the Nets' own second-round pick (currently No. 37).

Additionally, the Nets would have had to take back long-term salary in Konchar, who has two seasons beyond this remaining on the low-cost extension he signed in July 2022. At the time, Konchar was a key part of Memphis' depth, but he has seen his role usurped this season (197 total minutes) by younger players.

When he has played, Konchar remains quite productive, so that could have been a buy-low opportunity for Brooklyn. By the end of his contract, Konchar's flat $6.25 million salary will be equivalent to the taxpayer midlevel salary, so he only needs to be part of the rotation to be a reasonable value. Still, it's understandable that the Nets preferred a deal that didn't bring back guaranteed salary beyond this season.

Whether Brooklyn can flip Russell again for value will help determine whether the Nets chose the right path or should have waited to see if Finney-Smith's value increased by the Feb. 6 deadline. Russell could heat up in January as he did last year with the Lakers, averaging 22.7 PPG on 46% 3-point shooting. That version of Russell could be worth at least another second-rounder in exchange for a non-rotation player on an expiring contract.

Rejoining a Brooklyn team that traded point guard Dennis Schroder earlier in December, Russell will have plenty of opportunity to put up stats. Russell's return is unlikely to be as meaningful as his first stint, which resulted in an All-Star appearance, but could still help Brooklyn.

Lewis, the No. 40 overall pick in 2023, may also get a look from the Nets as part of their rebuild. He has averaged 18.4 PPG and 6.9 RPG in eight G League appearances, albeit without the kind of 3-point shooting (33%) that might translate in a smaller role in the NBA.

Dec. 14: Warriors add help at guard, acquire Schroder from Nets

Golden State Warriors get:
G Dennis Schroder
2025 second-round pick (via Miami)

Brooklyn Nets get:
G De'Anthony Melton
G Reece Beekman
2026 second-round pick (via Atlanta)
2028 second-round pick (via Atlanta)
2029 second-round pick (via Golden State)

Golden State Warriors grade: A-

For all the deserved credit to the Warriors' depth, it has done more to give Steve Kerr options to put around Stephen Curry than to succeed without him. Golden State has been outscored by 1.9 points per 100 possessions with Curry on the bench, per NBA Advanced Stats, despite playing elite defense in those situations.

Without Curry, the Warriors simply can't score. Their offensive rating when Curry rests ranks in the 4th percentile leaguewide, according to Cleaning the Glass, a big difference from last season when Golden State had future Hall of Famer Chris Paul as a backup. Last season, the Warriors scored at a league-average rate without Curry and outscored opponents with him on the bench.

After losing Paul, Golden State has used second-year guard Brandin Podziemski as a de facto backup point guard. Nearly 80% of Podziemski's minutes have come at the position, per analysis of lineup data from NBA Advanced Stats, compared with just 14% when he was an All-Rookie First Team pick.

Podziemski's sophomore slump can't entirely be blamed on the role change. He is attempting relatively more pull-up 3s this season but was more accurate shooting them as a rookie (45.5%, compared with 36% on catch-and-shoot attempts). Podziemski hasn't been able to make either type so far this season, shooting 26.5% on pull-ups and 23.5% on catch-and-shoot opportunities, worst among all players with at least 50 such attempts, according to Second Spectrum tracking on NBA Advanced Stats. Odds are, Podziemski would shoot better going forward either way.

Still, the Warriors are betting that adding Schroder also nets them an improved version of Podziemski with this trade, which replaces an empty roster spot -- Melton is out for the season after surgery to repair an ACL sprain -- with a veteran point guard off to a productive start.

Schroder, a full-time starter in Brooklyn for the first time since 2020-21, is averaging a career-high 6.6 assists and his most points (18.4) since finishing second in Sixth Man of the Year voting in 2019-20. It's unlikely Schroder will quite keep up that pace, even on a per-minute basis in a smaller role. He's hitting 39% of his 3s thus far, a career high for the 34% shooter.

Much like Paul last season, Schroder might require Kerr to rethink his usual preference for off-ball movement. With the Nets, Schroder has averaged 53 ball screens per 100 possessions, according to Second Spectrum tracking -- the league's fifth-highest rate this season. Only Curry (32 per 100 possessions) is averaging more than 17 per 100 for Golden State. That was different last season, as Paul averaged 55 ball screens per 100 possessions when Curry was on the bench.

Kerr would be wise to pair Schroder as much as possible with second-year center Trayce Jackson-Davis, the Warriors' best roll man, and can put plenty of shooting around them with guards Buddy Hield and Moses Moody. Non-shooters Kyle Anderson and Gary Payton II might be tougher fits in Golden State second units built around Schroder pick-and-rolls.

Having lost seven of nine games since a 12-3 start, the Warriors probably needed to upgrade to remain strong candidates for home-court advantage in the first round of the playoffs. Projections using ESPN's Basketball Power Index put Golden State sixth in average wins in the Western Conference, just barely ahead of the LA Clippers.

Adding Schroder likely won't put the Warriors back in the West's top tier, as Golden State will surely remain in search of a second star to pair with Curry. The good news is upgrading now with Schroder won't really affect that pursuit. The Warriors didn't have to give up any first-round picks in this deal and have multiple expiring salaries to include.

Having triggered a hard cap at the lower luxury tax apron, Golden State skillfully walked a financial tightrope with this deal. The Warriors added a little more than $200,000 in salary by swapping Melton for Schroder, leaving them a little more than $300,000 in wiggle room below the apron, per ESPN's Bobby Marks.

Brooklyn Nets grade: B+

Having a deal of this magnitude completed Dec. 15, the first day players like Melton signed as free agents this offseason can be traded, is unusual. That date usually opens NBA "trade season" much more in theory than reality. However, a few factors might have encouraged Brooklyn to trade Schroder sooner rather than later.

First, there's the matter of lottery positioning. The Nets came into this season with the NBA's lowest over/under win total of 18.5 games at ESPN BET, having made a June trade to reacquire their 2025 first-round pick outright from the Houston Rockets with an eye toward a high selection.

As my stats-based preseason wins projections suggested, Brooklyn has been far more competitive than expected. At 10-15, the Nets are already more than halfway to their win total, and they'd be in the Eastern Conference play-in tournament if the season ended today. Dealing away veterans, starting with Schroder, should make it easier for Brooklyn to accumulate losses and end up in strong lottery position.

Beyond that, Schroder's value is likely near its peak based on his play this season. Remember, the Nets acquired Schroder and Thaddeus Young at the 2024 trade deadline for Spencer Dinwiddie in a deal that did not include any draft picks. Netting a pair of second-round picks in return for Schroder is a great bit of business for Brooklyn.

I am curious how much interest there was in Schroder packages that would have required the Nets to take on salary beyond this season. (Melton, who signed a one-year contract with Golden State over the summer, will be an unrestricted free agent.) A Schroder reunion with the Los Angeles Lakers, for example, made sense but would likely have required Brooklyn to take back Gabe Vincent as matching salary. Vincent is under contract for $11.5 million in 2025-26.

As ESPN's Bobby Marks noted in August, the Nets project to have a league-high $70 million in cap space next summer. That's more than enough to sign a max player, though Brooklyn could accumulate enough room to sign multiple top free agents on a limited market by trading veterans who are under contract beyond this year. Alternatively, Brooklyn could use that flexibility to take back long-term salary from other teams to maximize pick value in future trades.

Dec. 13: Pacers deal for much-needed help at center

Indiana Pacers get:
C Thomas Bryant

Miami Heat get:
2031 second-round pick swap

Indiana Pacers grade: B

The Pacers had perhaps the league's most glaring trade need after both of their backup centers, Isaiah Jackson and James Wiseman, suffered a season-ending Achilles rupture during the season's first two weeks.

Since Jackson went down on Nov. 1, Indiana has been using Obi Toppin as an undersized center behind starter Myles Turner, freeing more minutes for 2023 lottery pick Jarace Walker at his natural power forward spot. Lineups with Toppin at center have been reasonably effective, with the Pacers outscoring opponents by 0.9 points per 100 possessions according to analysis of lineup data from NBA Advanced Stats -- far better than they've done with Turner on the court (minus-5.3 net rating).

The bigger issue for Indiana was what might have happened if Toppin or Turner missed time due to injury, leaving the team without any good options at center. The one game Turner has sat out since Jackson's injury, on Nov. 18 at Toronto, saw the Pacers lose to the lowly Raptors and get outscored by 17 points in the 25 minutes Walker played filling in as a starting center.

Heading to his fifth team over the past four seasons, Bryant hardly solves the Pacers' need for rim protection. Opponents shot 68% with Bryant as the defender on attempts within 5 feet last season, per Second Spectrum tracking data from NBA Advanced Stats, only marginally better than opponents have shot against Toppin so far in 2024-25 (72%).

Still, Bryant is a credible, experienced center who's making the league minimum. Financial terms were an important factor for Indiana, which sits just $126,000 from the luxury tax line after adding Bryant. The Pacers last paid the tax in 2005-06 and seem unlikely to do so for a slow-starting team that's currently four games under .500. That lack of wiggle room could make it challenging for Indiana to make any bigger moves before the deadline.

Miami Heat grade: A

The Pacers' urgency to add a center was great news for the Heat. Bryant had seen action in just three games since veteran Kevin Love returned to the lineup after missing the season's first eight games.

Having drafted Kel'el Ware as their backup center of the future to go with Love, Miami likely would have let Bryant walk if not for a 2024-25 player option in the contract he signed in 2023. (Bryant declining that option, then re-signing on a one-year deal, reduced his cap and tax hit without costing him any salary and ended up facilitating this trade because his full minimum would have pushed the Pacers into the luxury tax.)

Surely, the Heat would prefer to avoid exceeding the second luxury tax apron in the league's new collective bargaining agreement. Shedding Bryant's salary leaves them $3.7 million shy of that mark, and though they must sign a player to get to 14 on their roster, a prorated minimum salary will be cheaper than paying Bryant.

It's possible the swap of second-round picks in 2031 could benefit Miami. It's impossible to predict that far out where these teams will be in the standings, making this less valuable than getting a second-round pick outright but far more valuable than just getting back a highly protected second-rounder.