Was the NBA’s 2024 Free Agency a Bust? Analyzing Big-Ticket Signings and Their Impact

Was the NBA’s 2024 Free Agency a Bust? Analyzing Big-Ticket Signings and Their Impact

November 22, 2024 Catherine Williams - Chief Editor Sports

Fact or Fiction: The NBA‘s 2024 Free-Agency Class Was a Dud

The Philadelphia 76ers spent the most on salaries during the 2024 NBA free agency. Despite their spending, they currently hold the worst record in the league. This raises the question: was the 2024 free-agency class a disappointment?

To analyze this, we use a statistic called Cost Per Win (CPW). This metric calculates how much each player’s contract costs compared to their contributions in terms of wins. A player’s average annual value (AAV) is divided by their win shares (WS) to create CPW. This helps us understand the value teams get from their free agents.

Big-Ticket Free Agents

This year, big-ticket free agents include:

  1. DeMar DeRozan (SAC) – AAV: $24,630,000, WS: 1.5, CPW: $3,003,659
  2. Klay Thompson (DAL) – AAV: $16,666,667, WS: 0.7, CPW: $4,355,401
  3. Paul George (PHI) – AAV: $52,896,235, WS: 0.1, CPW: $90,310,645

Only two big-ticket players, DeRozan and Tobias Harris (DET), have made a significant impact with win shares. Paul George’s performance has been particularly troubling; he has struggled with injuries and has provided minimal contributions despite his high salary.

Mid-Tier Free Agents

Mid-tier free agents include:

  1. Kris Dunn (LAC) – AAV: $5,426,400, WS: 1, CPW: $1,058,810
  2. Chris Paul (SAS) – AAV: $10,460,000, WS: 1.7, CPW: $1,200,574

Mid-tier players generally performed better, providing teams with reasonable value for their salaries.

Low-Cost Free Agents

Low-cost options like Jay Huff (MEM) and Tyus Jones (PHX) offered great value relative to their contracts. For instance:

  1. Jay Huff – AAV: $2,527,660, WS: 1.1, CPW: $448,365
  2. Tyus Jones – AAV: $3,003,427, WS: 1.2, CPW: $488,362

These players have significantly higher win shares compared to their salaries, proving their worth on lower-cost deals.

Two-Way Players

Two-way players like Moussa Diabate (CHA) also contributed positively, providing teams with needed depth and performance at a low cost.

Conclusion

The 2024 free-agent class struggled, particularly among big-ticket players. Apart from a few standouts, overall returns were low, supporting the idea that this free-agency class was less effective in building strong teams. The findings indicate that the NBA’s free agency as a strategy may be losing effectiveness.

Final Determination: Fact. The NBA’s 2024 free-agency class was a dud.

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