The NBA’s trade deadline, , was expected to be quiet. Until a week ago, there had been only one trade all season.
Then the floodgates broke open.
While there wasn’t a repeat of last season’s blockbuster move of Luka Dončić to the Los Angeles Lakers, there was a significant amount of activity across the league – much of it coming in unexpected ways. Several star players – including Trae Young, Anthony Davis, Jaren Jackson Jr., James Harden and Darius Garland – changed teams, revealing three main themes to this trade deadline’s activity.
Giannis Remains in Milwaukee… For Now
For weeks, the central question around the NBA revolved around Giannis Antetokounmpo: would he be moved? The Milwaukee Bucks signaled midday on that they were moving on to other possibilities, a decision that wasn’t entirely surprising to those around the league.
“It isn’t a surprise this was one of the outcomes,” an Eastern Conference executive told ESPN. “And this was probably a more than 50% likely outcome.”
This outcome means the ongoing debate about Antetokounmpo’s future will likely extend into the summer, and potentially beyond. He can sign a contract extension on . Antetokounmpo himself alluded to his commitment with a social media post referencing a scene from “The Wolf of Wall Street,” proclaiming, “I’m not f—ing leaving!”
However, as one executive pointed out, “You know, in the movie, he left.”
The situation mirrors last season’s scenario with Kevin Durant and the Phoenix Suns, who discussed a trade at the deadline before ultimately moving him in the summer. The Boston Celtics followed a similar path with Paul Pierce in 2013, trading him and Kevin Garnett to the Brooklyn Nets a few months after the deadline.
Despite the speculation, the Bucks earned some praise for their handling of the situation. “I think they’re a winner for doing nothing,” a scout said. “They got all the information on the situation that they could, and they can go out and make a deal later.”
None of the potential suitors – the Golden State Warriors, Miami Heat, Minnesota Timberwolves, and New York Knicks – made moves that would preclude a potential Antetokounmpo blockbuster this offseason. The Bucks’ decision leaves the door open for further negotiations and allows Antetokounmpo time to assess his future with the team.
Tanking Teams Position for the Future
A remarkable aspect of this trade deadline was that, despite the movement of big names, only James Harden ended up on a current playoff team. Instead, the dominant theme was lottery-bound teams – the Utah Jazz, Washington Wizards, and Indiana Pacers – loading up to improve their draft positions.
The Wizards and Jazz deals were announced on , while the trade sending Ivica Zubac from the LA Clippers to the Pacers for Bennedict Mathurin and two first-round picks is particularly intriguing. One of those picks is the Pacers’ unprotected selection in 2029, while the other has unique protections: if it falls between 5th and 9th, it goes to the Clippers; if it’s in the top four or outside the top 10, it stays with Indiana, and the Clippers receive an unprotected 2031 pick.
This led to debate about the Pacers’ strategy for the remainder of the season. They could try to maintain a position for a top-three lottery pick, or they could attempt to climb into the play-in tournament. “If it was me, I would tank and get the best possible odds at the high pick,” one East executive said. “But if they choose to get to 10, I think they could.”
The Memphis Grizzlies, despite weeks of speculation surrounding Ja Morant, also remained put. While there was some surprise leaguewide that Morant stayed, the Grizzlies struggled to find a deal they felt strongly about. The team will now be heavily incentivized to join the tanking teams, potentially leading to adjustments from the league to curb the annual race to the bottom.
Teams at the Top Largely Stand Pat
Among the ten teams with the league’s best records entering , only the Oklahoma City Thunder traded a first-round pick for a player. The other contenders largely avoided significant moves, constrained by the luxury tax and its associated penalties.
The Boston Celtics, Denver Nuggets, and Phoenix Suns all avoided the luxury tax. The Philadelphia 76ers and Toronto Raptors also remained relatively quiet. Cleveland, addressing concerns about Donovan Mitchell’s future, traded for Harden. Minnesota saved money by trading Mike Conley, while Detroit added shooting with Kevin Huerter.
The lack of activity among the top teams raises questions about their ability to address weaknesses and compete for a championship. With so many trade sagas unresolved, the summer promises to be even more eventful.
