NBA free agency 2025: Analysis from Day 1

Published 9:29 am Tuesday, July 1, 2025

Day 1 of free agency is in the books, and we don’t really have the big free agent everybody is looking to grab this year. We mostly have a lot of trades happening, and teams wondering if Giannis Antetokounmpo is going to give up on being with the Milwaukee Bucks for life.

Teams around the league are still trying to figure out life in the era of the crippling second apron, and we’re seeing teams fully start to grasp how much they need to avoid that Trojan horse hard cap the owners worked into the collective bargaining agreement. Still, we had a lot happen through the first official day of free agency.

We’ve got the big moves, the expected re-sign agreements, head-scratchers, things we’re on the fence about and a lot more below (and if we forgot one, please excuse us; it was a busy day!).

Big moves through Day 1

LeBron James picks up $52.6 million player option

Even entering a record 23rd year, LeBron James picking up his player option is still a big move. LeBron sticking with the Lakers was not a surprise, and his continuing to make this kind of money is still very much warranted, even at his age and mileage. The weird dynamic of it all is that LeBron both sort of fits into what the Lakers are doing and need to do, and he also sort of doesn’t. With Dončić as the main building piece for this franchise in the present and future, LeBron is no longer the player who this roster orbits around.

Rich Paul even acknowledged that in the statement following the news that LeBron was picking up his option:

“LeBron knows the Lakers are building for the future, and he also wants to compete for championships,” Paul told The Athletic. “We understand the difficulty in winning now while preparing for the future. We do want to evaluate what’s best for LeBron at this stage in his life and career. He wants to make every season he has left count, and the Lakers understand that, are supportive and want what’s best for him. We are very appreciative of the partnership that we’ve had for eight years with Jeanie (Buss) and Rob (Pelinka) and consider the Lakers as a critical part of his career.”

It’s a position James has never been in before. He’s still so good and contributes to winning, but he’s also near the end of his career… we think. He eats up a massive chunk of the cap for the Lakers, and at some point, the team will need that to put significant players around Dončić who are more on his timeline for building and winning. This roster is horribly balanced, and they’re seeking big man help. That was an area that caused them to be ousted so quickly in the playoffs, and it’s hard to do with James’ salary in the way.

However, James also still contributes in a way that the short term can’t ignore. The Lakers just have to decide at what point they move on from the guy who brought them a title in 2020. And James has to figure out when competing for championships means going to a new spot. Grade: A+ for LeBron’s bank account

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James Harden agrees to re-sign with Clippers (two years, $81.5 million)

Harden declined his player option for next season to re-up with the Clippers, giving both sides some flexibility. Harden can reassess things next summer with his player option, and it being partially guaranteed gives the Clippers a little wiggle room, although more details are still to come with that. Harden had a good season with the Clippers, earning All-Star and Third Team All-NBA honors. His efficiency with making shots dropped, and his turnover rate was up, with a big jump in usage rate.

The Clippers didn’t have another avenue for the lead guard situation. Getting Harden back with a small pay bump, while maintaining flexibility on Kawhi Leonard’s timeline, was the right way to go. Grade: A

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Julius Randle agrees to re-sign with Timberwolves (three years, $100 million)

There were questions about what Randle might do with his $30.9 million player option for next season. He declined it, and this deal keeps him at pretty much the same pay rate for the next two seasons, with Year 3 of the deal being an estimated $36 million player option. That’s about right for Randle, who played arguably the best basketball of his career the last two months of the season, along with the playoff run the Wolves had to the Western Conference finals.

At least for now, the Wolves are opting for continuity being their strength in the ever-changing West. Despite having a quick series with the eventual champion Thunder, the Wolves do like their odds of competing for the conference again with the same squad. Grade: B+

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Naz Reid agrees to re-sign with Timberwolves (five years, $125 million)

Reid’s deal factors into the quest for continuity mentioned above. Reid is a phenomenal story, from going undrafted to carving out a great role for himself in Minnesota to winning Sixth Man of the Year two seasons ago to now a nine-figure contract. For $25 million per season, his type of role and production will justify that kind of money, as long as he stays healthy.

It will be interesting to see if his role ever evolves during this deal. Maybe Randle or Rudy Gobert are moved at some point, and Reid moves into the starting lineup. He still has a lot to do to become a solid defender, but he’s had some moments. The Wolves not losing Reid likely cost them Nickeil Alexander-Walker, but they feel they have the young depth to make up for that. Grade: B+

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Jaren Jackson Jr. agrees to extension with Grizzlies (five years, $240 million)

The Grizzlies painted themselves into a corner with this extension, and it’s not even necessarily a bad call. They have to do it, and he may end up being worth that kind of money. Nearly $50 million a year is huge. It doesn’t even matter that he’s not an elite shot blocker the last two years, because he’s still an elite defender. He’s getting stops in other ways. He’s also improved his scoring to being a consistent 22-point-per-game scorer the last two seasons and brought his efficiency back up with a healthy 2024-25 campaign.

Jackson isn’t a good rebounder, and he’s not a playmaker for others. If he can flesh out both of those skill sets, then it makes the max extension super easy to justify. And he may justify it anyway. The Grizzlies definitely build their defense around him, as long as he’s not in foul trouble. You just can’t miss at all when handing out these big contracts, and there’s a non-zero chance of a miss here. Still, not a bad move for Memphis. Just not a home run. Grade: B+

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Dorian Finney-Smith agrees to deal with Rockets (four years, $53 million)

This might be my favorite signing of Day 1. The Rockets gave up a good defender in Dillon Brooks to complete the Kevin Durant trade, but I’d argue Finney-Smith is a much better fit for this team. He can guard two through four and a lot of point guards as well. He’s mostly been a league-average 3-point shooter or better in his career. He doesn’t try to do too much with the ball, so you’re not going to get those random acts of dribbling that look like it’s a football.

Finney-Smith also defends without taking away from the team in the form of trying to instigate. When it worked for Brooks, it got opponents out of their game. But when it didn’t work, it caused the Rockets to crumble a bit. Finney-Smith is just solid at all times. For this kind of money and a four-year commitment, it’s a perfect signing for the Rockets. Grade: A+

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Nickeil Alexander-Walker agrees to sign-and-trade to Hawks (four years, $62 million)

The Hawks are giving up a second-rounder and cash in the trade. The new Wolves owners keep adding to the till! For the Hawks, Alexander-Walker potentially gives them a playmaking wing who can knock down 3-pointers and provide a defensive punch on the wings. This has the chance to help put them further in a position to make a leap in the East. He pairs nicely with Dyson Daniels, and he can help take some of the initiation responsibilities from Trae Young to move him off the ball more.

It looks like the fourth year will have a player option, so it might not be a straight-up four-year deal for Alexander-Walker. The last three seasons, he’s shot 38.5 percent from deep, so the shot should be more than reliable moving forward. Grade: A-

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Bobby Portis agrees to re-sign with Bucks (three years, $44 million)

Expected re-signs through Day 1

Kyrie Irving agrees to re-sign with Mavericks (three years, $119 million)

Fred VanVleet agrees to re-sign with Rockets (two years, $50 million)

Santi Aldama agrees to re-sign with Grizzlies (three years, $52.5 million)

Davion Mitchell agrees to re-sign with Heat (two years, $24 million)

Nicolas Batum agrees to re-sign with Clippers (two years, $11.5 million)

Kevin Porter Jr. agrees to re-sign with Bucks (two years, $11 million)

Taurean Prince agrees to re-sign with Bucks (two years, $7.1 million)

Gary Trent Jr. agrees to re-sign with Bucks (two years, $7.5 million)

Jaylin Williams agrees to re-sign with Thunder (three years, $24 million)

Sam Merrill agrees to re-sign with Cavaliers (four years, $38 million)

Ajay Mitchell agrees to re-sign with Thunder (three years, $9 million)

Steven Adams agrees to re-sign with Rockets (three years, $39 million)

Great values through Day 1

Ty Jerome agrees to sign with Grizzlies (three years, $28 million)

Tyus Jones agrees to sign with Magic (one year, $7 million)

Tre Jones agrees to re-sign with Bulls (three years, $24 million)

Bruce Brown agrees to sign with Nuggets (one year)

D’Angelo Russell agrees to sign with Mavericks (two years, $13 million)

Brook Lopez agrees to sign with the Clippers (two years, $18 million)

Clint Capela agrees to sign with Rockets (three years, $21.5 million)

Kevon Looney agrees to sign with Pelicans (two years, $16 million)

Luke Kennard agrees to sign with Hawks (one year, $11 million)

Jordan Clarkson agrees to sign with Knicks

On the fence deals through Day 1

Jake LaRavia agrees to sign with Lakers (two years, $12 million)

Caris LeVert agrees to sign with Pistons (two years, $29 million)

Luke Kornet agrees to sign with Spurs (four years, $41 million)

Paul Reed agrees to re-sign with Pistons (two years, $11 million)

Head-scratchers through Day 1

Dennis Schröder agrees to sign with the Kings

Trade of the day

Nuggets trade Michael Porter Jr., 2032 pick to Nets for Cam Johnson

This was a big move by the Nuggets to give themselves some breathing room financially and possibly upgrade at the same time. Porter is a more talented player, but it doesn’t mean he’s necessarily better for what Denver needs. Johnson’s consistency in production and effort will be great for David Adelman. Johnson was so good at creating without any gravity helping him the last couple of years. Now he has Nikola Jokić setting him up.

For the Nets, they get to showcase Porter for a year or two. He will either become a part of what they want in the future, a trade asset or possibly just someone who puts up big scoring nights to distract Nets fans during a season of tanking. They got an unprotected first-round pick from Denver to take on the extra $34 million over the next two seasons owed to Porter. Feels like a win-win? Check out the trade grades here!

Small deals

Ziaire Williams agrees to re-sign with Nets (two years, $12 million)

Day’Ron Sharpe agrees to re-sign with Nets (two years, $12 million)

Mason Plumlee agrees to sign with Hornets (one year, $3.6 million)

Luka Garza agrees to sign with Celtics (two years, $5.5 million)

Garrett Temple agrees to re-sign with Toronto (one year, $3.6 million)

Trendon Watford agrees to sign with Sixers (two years, $5.3 million)

Joe Ingles agrees to re-sign with Minnesota (one year)

Jeff Green agrees to re-sign with Rockets (one year)

Aaron Holiday agrees to re-sign with Rockets (one year)

Collin Gillespie agrees to re-sign with Suns (one year)