The NBA Draft occurred a month ago, and major free agent signings mostly took place around three weeks ago, with the summer leagues now concluded (kudos to Kon Knueppel, KJ Simpson, and the Hornets for their summer league success). Many teams are currently in vacation mode with training camps still a few months away. However, the offseason isn’t completely over—there are still restricted free agents waiting on contracts, veterans available on the market, and players eligible for expansion who haven’t been moved. Another significant trade may still happen before the season kicks off, as one of the largest deals of 2024 already occurred in October.
Restricted free agents (RFAs) are facing a tight market due to limited cap space. Among the 2021 first-round picks who are RFAs, three have signed deals: Santia Aldama with Memphis Grizzlies, Davion Mitchell with Miami Heat, and Isaiah Jackson with Indiana Pacers. The other four—Quentin Grimes, Jonathan Kuminga, Josh Giddey, and Cam Thomas—are all seeking bigger contracts. Grimes is expected to stay with the Philadelphia 76ers, especially as he took on a more prominent role late last season. Meanwhile, Kuminga and Golden State Warriors seem on the brink of separation, although a short-term deal might still be possible through a sign-and-trade arrangement. Giddey, fresh off a strong playoff showing with Oklahoma City Thunder, is seeking a deal around $30 million per year, but Chicago Bulls remain firm on offering closer to $20 million. Cam Thomas is reportedly frustrated with his market value, asking for about $30 million annually, which some teams consider too high.
On the unrestricted free agent front, aside from names like Al Horford, De’Anthony Melton, and Malik Beasley (whose future is uncertain due to off-court issues), there are solid role players still available. These include Malcolm Brogdon, Gary Payton II, Amir Coffey, Trey Lyles, and Chris Boucher. Bench depth includes players like Russell Westbrook, Ben Simmons, Monte Morris, and Seth Curry among others.
Several key extensions have yet to be finalized. Luka Doncic can sign a lucrative long-term deal starting August 2 with the Lakers, expected to commit soon but length and terms remain uncertain. De’Aaron Fox can also sign a significant extension on August 3 with the Spurs, though his maximum contract isn’t as guaranteed as Doncic’s. Other notable players eligible for extensions include Trae Young, Mikal Bridges, Ja Morant, Darius Garland, and Norman Powell. There are also numerous players eligible for rookie extensions later in the year.
Trade activity remains slow, with uncertainty surrounding potential moves for LeBron James, who recently expressed ambivalence about his future with the Lakers. The Bucks are seemingly committed to keeping Giannis Antetokounmpo for now, although his statements leave some room for doubt. Many notable players like Lauri Markkanen, Domantas Sabonis, DeMar DeRozan, and Zion Williamson have not been moved despite rumors. It’s possible that many teams will enter the season largely intact.
Fan Take: This offseason’s restrained movement highlights how cap space and contract extensions are shaping team strategies more than blockbuster trades. For basketball fans, this means the upcoming season could bring a mix of familiar rosters evolving through internal growth rather than dramatic overhauls, setting the stage for new stars to rise and intense battles for cap space drama.
