As of now, only one trade has occurred in the 2025-26 NBA season, but with just nine days remaining until the February 5 trade deadline, a surge of deals is expected soon. Much of the buzz centers on Giannis Antetokounmpo’s uncertain future, which influences the trade market. Teams interested in acquiring top All-NBA forwards must still consider their immediate playoff aspirations before making moves, and while many deals might only be finalized close to the deadline, discussions are already underway to set the stage for potential trades.
Two of the league’s most talked-about teams approaching the deadline are the New York Knicks and the Los Angeles Lakers. Both clubs boast similar strong records—27-18 for the Knicks and 28-17 for the Lakers—and are firmly placed in the playoff race within their conferences. However, they have revealed critical weaknesses, keeping them in the lower tier of true title contenders in their current forms. Both franchises face the challenge of balancing a desire for immediate championship success with longer-term strategic planning, making their moves in the next nine days crucial to watch.
The Knicks recently showed interest in acquiring two-time NBA champion Jrue Holiday, reaching out to the Portland Trail Blazers about a potential trade. Holiday, who previously won championships with Milwaukee and Boston and was acquired by Portland last summer in exchange for Anfernee Simons, remains a valued veteran capable of strengthening contenders. The Knicks see Holiday as a defensive asset who complements Jalen Brunson in the backcourt and as a potential lure for Antetokounmpo. Nonetheless, the Knicks also wish to give their current roster a chance to develop over a full season before making significant changes. Team owner James Dolan previously expressed satisfaction with the locker room atmosphere and resisted making sweeping changes, raising questions about whether New York is willing to meet Portland’s asking price for Holiday.
On a related front, although the Knicks have publicly downplayed interest in trading for Karl-Anthony Towns, other teams believe the Knicks’ All-Star center could be available for the right offer. Towns was a major offseason acquisition but has underwhelmed fans with his performance and fit under head coach Mike Brown’s system. Trading Towns presents a dilemma: even if the Knicks wanted to move him, his market value may be limited. This partly explains the team’s reluctance to advertise him as trade bait, as only a team urgently seeking his caliber might offer a worthwhile return.
Meanwhile, the Lakers, long frequent subjects of trade speculation, are weighing their options carefully. After a period of relative caution following the Russell Westbrook trade, they made a headline-grabbing deal last year to acquire Luka Doncic. Lakers’ GM Rob Pelinka is reportedly exploring ways to maximize trade assets ahead of the deadline, including the possibility of turning future first-round picks from 2031 or 2032 into multiple selections. Adding these picks alongside expiring contracts—such as those of Rui Hachimura, Gabe Vincent, and Maxi Kleber—could provide flexibility in making trades. The team’s biggest roster need remains at center, where Deandre Ayton has fallen out of favor. While securing a long-term solution at that position is a priority for this summer, it remains uncertain if a suitable deal will occur before the deadline.
In Houston, the Rockets are facing tough financial decisions as they look to maintain a talented young core. Restricted free agent Tali Eason, who will seek a new contract this summer, has reportedly been taken off the trade market by the Rockets. Ranked fourth in the Western Conference and considering themselves legitimate title contenders, Houston is focused on keeping its roster intact for the playoffs. Although restricted free agents rarely receive offer sheets these days, Eason’s strong 3-and-D profile could attract interest. However, the Rockets appear prepared to retain him, as trading Eason now for incremental short-term gain would be risky given his important role.
Fan Take:
This flurry of potential trades highlights the delicate balance NBA teams must strike between building for immediate success and planning for the future. The Knicks and Lakers’ moves in particular could shift the Eastern and Western Conference power dynamics dramatically, making this trade deadline one of the most exciting and pivotal in recent memory for basketball fans.
