The 2025 NBA trade deadline has passed, and it was arguably the craziest deadline period in NBA history. That's because the league saw multiple star-studded blockbuster deals and several other moves that will alter not just this season's title race, but also the landscape of the league for years to come.
The chaos began late Saturday night when news broke the Lakers were acquiring Luka Doncic in a deal that sent Anthony Davis to the Mavericks. The trade was so jaw-dropping that players and fans alike initially thought it was a hoax. Later, De'Aaron Fox was moved to the Spurs from the Kings on Sunday night as Zach LaVine ended up in Sacramento.
So much for a slow deadline, right? Despite the CBA-induced restrictions hamstringing parts of the league, creative front offices gave us a handful of huge in-season deals.
Let's take a look at some of the winners and losers from the 2025 NBA trade deadline.
Winner: Lakers exceptionalism
There's really no other way to explain it -- the Lakers are blessed by the basketball gods. Not only did they land Luka Doncic in what could go down as the most-lopsided trade in NBA history, but they also picked up the exact type of big man they were looking for in Mark Williams. And what shrewd tactics did general manager Rob Pelinka employ to get these two on the roster?
He ... picked up the phone.
That's right, Dallas and Charlotte executives reportedly approached him about the trades, showing that sometimes these things really come down to, as our Brad Botkin called it, dumb luck.
Any and all questions about the Lakers' post-LeBron James outlook were answered in one fell swoop, and now the franchise is set up to compete for titles for the next decade (assuming the Lakers can re-sign Luka). Wilt, Kareem, Magic, Shaq and Kobe, Pau Gasol, LeBron, now Luka ... Lakers gonna Laker.
After last year's trade deadline, Mavs GM Nico Harrison was being praised as a hero. He brought P.J. Washington and Daniel Gafford on board -- moves that would eventually help get the franchise to the NBA Finals -- draft pick Dereck Lively II was looking like a stroke of genius, and the gamble to trade for Kyrie Irving was paying off massively.
Fast forward one year, and his name has now become a punchline in NBA circles.
Harrison has been mercilessly mocked by pretty much anyone who even remotely follows the league for dealing one of the best basketball players in the world -- who happens to be 25 years old -- for an aging, oft-injured star and one measly draft pick. Mavs fans even brought a coffin and set up a mock vigil for Luka Doncic outside American Airlines Center following the trade.
"It was the last vestige of, like, a calmer world," one Mavericks fan told our James Herbert. "Like, Luka got us through the pandemic. We had the Western Conference finals run with him and he was, like, the nice thing in that time, just as Dirk [Nowitzki] got us through those 20 years before it. I think it's just such a massive betrayal."
The Mavericks players weren't exactly on board with the move, either.
"You just don't imagine you're going to get ready to go to sleep and then you find out news like that," Kyrie Irving said after Dallas' loss to the 76ers on Tuesday. "It's still a grieving process right now. I miss my hermano."
Look, if the Mavs win a title or two in the next couple of years, all might be forgiven. But anything short of that and Harrison will continue to be persona non grata for as long as he's in Dallas.
Those who had given up on the Warriors being title contenders received a jolt of hope on Wednesday, when the Jimmy Butler saga ended with the five-time All-NBA forward in Golden State. While still not championship favorites by any stretch, it's fair to say that the Warriors once again have a fighting chance to hoist the Larry O'Brien trophy.
Stephen Curry finally has a second offensive option that opponents actually have to worry about, while Draymond Green gets a gritty defender with, as he called it, "winning f---ing pedigree" to help them try to get back to the promised land.
Winner: C.I.A.-level secrecy
In this age, when every rumor, every detail, every utterance is reported in some way, shape or form, one of the biggest trades in NBA history was somehow kept under wraps. Not only was the Luka Doncic trade withheld from the social media-sphere, but it was also done without the players involved even knowing.
Doncic, Anthony Davis, LeBron James and Mavericks head coach Jason Kidd all said they had no clue that the trade was happening until after it went down, and Dallas GM Nico Harrison said he had still not spoken to Doncic when he addressed the media on Sunday, though he did text him and a leave a message.
"Trades don't happen at the smallest level without stuff getting out," Harrison said. "Rob [Pelinka] and I were able to have really intense conversations over the course of three or four weeks that started out as a coffee that was more, 'Hey, would you ever? I don't know, would I?' And then it built upon that. We kept it between us. We had to. We had to keep it tight."
Three or four weeks of conversations about trading Luka freaking Doncic and not a single word got out?!?! We can debate whether it's fair to keep players in the dark about things like this, but you have to appreciate the clandestine nature of these negotiations. Absolutely remarkable, and something we may not see again for a long, long time.
Loser: Martins
If your last name is Martin, it's time to start packing. Three of the four active Martins in the NBA were traded before Thursday's deadline, leaving Nets guard Tyrese Martin as the last man standing on his original team. Caleb Martin went from the 76ers to the Mavericks, his twin brother Caleb Martin went from the Hornets to the Suns, and high-flyer KJ Martin went from the Sixers to the Jazz.
These guys all seem to be in good spots for their careers, so they're probably not too upset, but it was a bit odd to see so many Martins on the move over the past couple of days.
Winner: Victor Wembanyama's shoulders
This season, the Spurs are 5-17 when Victor Wembanyama scores fewer than 25 points. That's largely because San Antonio has lacked a consistent second scoring option, leaving little margin for error when the 7-foot-3 phenom has an off night. Quite a lot of pressure for a kid who just turned 21 last month.
Enter De'Aaron Martez Fox, who's averaged 25 points and six assists over his last five NBA seasons, and whom the Spurs acquired while only having to surrender a pile of rubble some not-so-great draft capital and players who weren't part of the future. All Fox did was put up 24 points and 13 assists in his debut as the Spurs beat the Hawks on Wednesday, and he displayed early chemistry with Wembanyama.
Still just 27 years old, Fox seems like an ideal partner to help take some of the weight off of Wembanyama's shoulders in San Antonio.
Loser: Middleton's sanity
Just a few years ago, Khris Middleton was helping the Milwaukee Bucks win an NBA title. Now he's packing his bags to join one of the worst teams in NBA history. Middleton would look weird in any jersey besides Milwaukee's, but he looks especially strange as a Washington Wizard.
Middleton is coming off double ankle surgery this offseason and was averaging 12 points, four assists and four rebounds in limited minutes on highly efficient 51/41/85 shooting splits as he helped Milwaukee fight for Eastern Conference playoff positioning. In Washington, he'll join a squad that's actively trying to lose games in order to improve their draft stock. Now that's a tough beat.
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A note on LaRavia
Jake LaRavia had been having by far the best season of his career before the Memphis Grizzlies decided to send him to the Sacramento Kings on Thursday. This was not enough, however, for the 23-year-old forward to solidify his standing with the team. Before the season started, the Grizzlies declined their fourth-year option on his rookie contract, which put him on track to be an unrestricted free agency this coming summer instead of a restricted free agent in 2026. It also put a cap on what Memphis could offer him on a new contract.
Now that he's a member of the Kings, they have inherited this strange situation. If Sacramento wants to retain him, it can offer him no more than $5.2 million in Year 1 of the deal, as ESPN's Bobby Marks noted.
For the rest of the year, the Kings obviously want LaRavia to help them win games, but, if he plays too well, they might find themselves unable to re-sign him, as other teams could simply outbid them.
It's not impossible, though, for this kind of acquisition to result in more than a rental. In the same exact situation four years ago, the Indiana Pacers acquired Jalen Smith from the Phoenix Suns and re-signed him the following summer.
Wiseman, 23, tore his Achilles on opening night this season and had season-ending surgery. This move opens up a roster spot (and more room under the luxury tax) for the Pacers, who can now in theory sign another player for the stretch run.
Toronto will have a team option on Wiseman's $2.5 million salary in 2025-26.
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Grizzlies make Smart move
The Grizzlies are moving veteran guard Marcus Smart to the Wizards right at the deadline buzzer.
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Pistons make Schröd move
Dennis Schröder, who was included in the Jimmy Butler blockbuster, will land up with the Detroit Pistons, as first reported by the Detroit Free Press' Omari Sankofa II. In exchange for Schröder, they will send K.J. Martin, Josh Richardson and their 2028 second-round pick to the Utah Jazz, according to The Stein Line's Jake Fischer. (They acquired Martin from the Philadelphia 76ers and Richardson from the Miami Heat leading up to Thursday's 3 p.m. ET deadline.)
Detroit was the only team that entered trade season with cap space. It also had its room midlevel exception. It appears to have used this flexibility to acquire Schröder and Lindy Waters III, picking up some draft capital in the process.
Alongside Cade Cunningham, Schröder won't get to run the show like he did in Brooklyn at the beginning of the season, but he can share the floor with Cunningham in spurts and help the Pistons create offense. They have missed Jaden Ivey's playmaking since the 22-year-old guard broke his left fibula on New Year's Day.
The Los Angeles Clippers are acquiring Bogdan Bogdanovic and three second-round picks from the Atlanta Hawks in exchange for Terance Mann and Bones Hyland, according to ESPN's Shams Charania.
The details on the picks, via The Stein Line's Jake Fischer:
Bogdanovic, 32, is making $17.3 million this season. He's owed $16 million next season and has a $16 million player option for 2026-27.
Mann, 28, is making $11.4 million this season, but has already signed a three-year, $47 million extension that will kick in next season. Hyland, 24, is making $4.2 million this season and will be a restricted free agent in the summer.
If Bogdanovic returns to his 2023-24 form, this is a great deal for the Clippers. He was a Sixth Man of the Year candidate then, but, in 24 appearances this season, he has averaged just 10 points in 24.9 minutes per game while shooting 37.1% from the field and 30.1% from deep. The question is whether or not this represents real decline or it's simply health-related. Should he get healthy and find his form in Los Angeles, getting three second-round picks to take him on will be win.
Atlanta, meanwhile, is in a transitional phase, and it made sense to get out of the Bogdanovic business. Surrendering picks is not ideal, but, even if they're not particularly interested in Hyland, it can justify this trade by virtue of Mann's contract. Assuming the Hawks see him as the valuable, versatile role player he's been for most of his Clippers tenure, this is a team-friendly deal that runs through his prime.
The Hawks have also traded Cody Zeller to the Houston Rockets, and they have sent Houston its own 2028 pick as a sweetener, per ESPN. Another shoe still has to drop, though, because Atlanta has 16 players on its 15-man roster.
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Durant likely staying put in Phoenix
There were some more rumblings today about a Kevin Durant trade, but it appears the superstar will not be moved in the next 35 minutes. The Suns entertained the idea of trading KD at this deadline, but he did not want to go to the Warriors. Instead, Durant will stay in Phoenix, which will retain Durant, Devin Booker and Bradley Beal for the rest of the season.
Hunter was the No. 4 overall pick in the 2019 NBA Draft and landed in Atlanta on a draft night trade. A 6-foot-8 forward who specializes in shooting, Hunter has averaged 14.8 points for his career and is having his best season as a professional this year at 19 points per game. That success is coming on several levels offensively. He is shooting a career-best 39.3% from 3-point range this season while also setting career-highs in 2-point field goal percentage and free-throw rate. While Hunter's defense has been inconsistent as a professional, he has good positional size and should be able to fit in well enough on a winning roster.
Jusuf Nurkic, who had fallen out of favor with the Phoenix Suns, is headed to the Charlotte Hornets, according to ESPN's Shams Charania. The Hornets are picking up a 2026 first-round pick in the deal, and they are sending wing Cody Martin, guard Vasilije Micic and a 2026 second-rounder to the Suns.
ESPN's Bobby Marks has the details on the picks:
Nurkic, 30, is making $18.1 million this season and will make $19.4 million next season. The big man will presumably get to play basketball again now, as he fills the hole in Charlotte's lineup that was created when it traded Mark Williams to the Los Angeles Lakers on Wednesday.
Martin, 29, is making $8.1 million this season and he is owed $8.7 million (non-guaranteed) next season. In the short term, he will give Phoenix another rotation-caliber wing to balance out the roster. Micic, 31, is making $7.7 million and has an $8.1 million team option next season.
Martin's twin brother, Caleb, was also traded (from the Philadelphia 76ers to the Dallas Mavericks) leading up to Thursday's 3 p.m. trade deadline. There was also a third Martin trade, as the unrelated KJ Martin -- the son of former All-Star Kenyon Martin -- was traded from Philadelphia to the Detroit Pistons.
Phoenix's perspective: Nurkic has been available forever, it was clear that the Suns would have to incentivize another team to take his contract. They did that by sending the Hornets a pick, and this particular trade was appealing because of what they got in return.
Right now, Martin is the kind of player who can easily slide into Phoenix's rotation. Between him, rookie Ryan Dunn and veteran Royce O'Neale, the Suns have a nice little collection of switchable wings, which will allow coach Mike Budenholzer to put some better defensive lineups on the floor.
Perhaps more important to Phoenix's front office: Martin's $8.7 million 2025-26 salary is fully non-guaranteed if waived by June 30. If it doesn't want that money on its books next season, it could potentially trade him to a team looking to clear cap space on draft night or simply waive him (and decline Micic's option) and get under the second apron.
It didn't hurt, either, that Charlotte was willing to include that 2026 second-rounder, which means the Suns effectively downgraded a pick rather than simply surrendering one.
Charlotte's perspective: Martin has spent his entire career with the Hornets -- they drafted him No. 36 overall in 2019 -- but it was time for his tenure to end. They are still in rebuild mode, and they took this opportunity to turn a 2026 second into a 2026 first.
This is a pretty straightforward swap In the meantime, Nurkic will sop up minutes for a team that traded both Williams and Nick Richards (hey, Phoenix and Charlotte like doing business together, don't they?) recently. In a best-case scenario, he will rebuild his trade value in this situation and the Hornets will be able to flip his expiring contract for some stuff before next year's deadline.
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Suns still getting 'aggressive calls' on KD
Is Kevin Durant staying put at the deadline? We know he's not going to the Warriors, but that doesn't mean other teams aren't trying to pry the reportedly available star out of Phoenix. ESPN's Shams Charania reported Thursday afternoon that teams are still being "aggressive" in trying to land Durant before 3 p.m. ET.
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Bucks save some bucks
Milwaukee is trading Patrick Baldwin Jr. and sweet, sweet cash to the San Antonio Spurs, via ESPN's Shams Charania.
In this deal, the Bucks are effectively spending money in order to save money. ESPN's Bobby Marks reported Thursday that Kyle Kuzma would waive a portion of his trade bonus so that they could get below the second apron, but clearing Baldwin's $2.5 million salary means that they will either have a little more wiggle room under the second apron or have the ability to give Kuzma his full trade bonus. (In case you missed it, they acquired Kuzma and Baldwin on Wednesday in the deal that sent Khris Middleton to Washington.)
To be clear, this isn't just about money, per se -- Milwaukee paid the Spurs to take Baldwin's contract. It's about flexibility. If the Bucks want to aggregate multiple salaries in a trade, they need to finish that trade underneath the second apron. It has been widely reported that Milwaukee has made veterans Bobby Portis and Pat Connaughton available in advance of the trade deadline.
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The trades that haven't been made (yet)
Considering that most of us were braced for a boring trade season, it is stunning how much has happened leading up to today's 3 p.m. ET deadline. And with just a few hours to go, what hasn't happened is also notable:
The Hawks haven't done anything. De'Andre Hunter, Bogdan Bogdanovic and Clint Capela are all reportedly available, and Sports Illustrated's Chris Mannix reported Thursday that Cleveland is "emerging as a frontrunner" for Hunter.
The Blazers haven't done anything. Anfernee Simons, Jerami Grant, Deandre Ayton, Robert Williams III are all trade candidates, despite the fact that Portland has won nine of its last 10 games.
The Grizzlies haven't done anything. Marcus Smart is reportedly available, and Memphis was reportedly close to trading Luke Kennard and John Konchar in a deal that would have brought back Dorian Finney-Smith in late December.
The Bulls' Nikola Vucevic hasn't been traded, and neither have any of their guards not named Zach LaVine. Their backcourt is now extremely crowded: they acquired Tre Jones and Kevin Huerter in the LaVine deal, and they already had Josh Giddey (RFA in July), Lonzo Ball (who just agreed to an extension but is still tradable) Coby White, Ayo Dosunmu, Jevon Carter, Dalen Terry and Talen Horton-Tucker on the roster.
The Warriors finally made their big move, but they still have soon-to-be RFA Jonathan Kuminga and the expiring contracts of Kevon Looney and Gary Payton II, plus Buddy Hield on a team-friendly deal and their other young players.
The Bucks traded Khris Middleton and Patrick Baldwin Jr., but not Bobby Portis or Pat Connaughton.
The Pelicans traded Brandon Ingram and Daniel Theis. CJ McCollum, however, is still hanging around.
The Raptors traded Bruce Brown, Kelly Olynyk and Davion Mitchell, but Chris Boucher hasn't gone anywhere. P.J. Tucker is also on the roster for now.
The Hornets traded Mark Williams, who wasn't even rumored to be going anywhere, but they still haven't traded Cody Martin.
The Knicks traded Jericho Sims, but the other centers who have been in the rumor mill -- Mitchell Robinson and Precious Achiuwa -- are the ones who could potentially bring back a difference-maker. SNY's Ian Begley reported on Wednesday that Robinson will likely make it past the deadline.
The Jazz have made some minor moves, but nothing big. John Collins is once again a trade candidate, and Utah is once again reportedly willing to listen to inquiries about Walker Kessler (and then make it clear that he won't be cheap). The front office would presumably be willing to discuss Collin Sexton and Jordan Clarkson, too.
The Nets aren't expected to move Cam Johnson, per the New York Post's Brian Lewis, but that doesn't necessarily mean they won't. It's worth noting, too, that Cam Thomas and Day'Ron Sharpe will be RFAs in the offseason, and D'Angelo Russell is on an $18.7 million expiring contract.
The Pacers haven't done anything, despite the fact that in the offseason Myles Turner will be seeking an enormous raise and Bennedict Mathurin will be eligible for an extension.
The Sixers have been busy -- they swapped Caleb Martin for Quentin Grimes and Reggie Jackson for Jared Butler, and they dumped KJ Martin's contract to get out of the tax -- but they haven't necessarily cut next season's payroll. Teams are reportedly interested in trading for Guerschon Yabusele, but if Philly doesn't trade him, don't be surprised if it moves Andre Drummond and/or Eric Gordon in order to have a better shot at re-signing Yabu. The Sixers don't have his Bird rights, so they probably need to ensure they have access to the non-taxpayer midlevel exception next summer.
Kyle Anderson and Dennis Schroder aren't Warriors anymore, but it's unclear where they will end up. Initial reports about the Jimmy Butler trade on Wednesday indicated that Anderson was going to the Raptors, but for now he's a member of the Heat, who would presumably like to move him (or find another way to get under the luxury-tax threshold). Schroder is a Jazzman for now, but Andscape's Marc Spears reported that Utah is not expected to keep him.
The Pistons acquired KJ Martin from the Sixers, and they acquired Lindy Waters III and Josh Richardson in the Jimmy Butler trade. They have not, however, necessarily used any of their $14 million in cap space. Martin can be acquired with the room exception, and Waters and Richardson can be acquired with minimum salary exceptions. They're going to need to waive or trade some players, though, regardless of whether or not they wind up absorbing more salary. Including Martin, Waters, and Richardson, they currently have 17 players on their 15-man roster. (The trades have not yet been made official.)
Neither the Nuggets nor the Timberwolves have done anything. Hmm.
Thursday has been pretty quiet so far, but that could change quickly.
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PJ Tucker traded again
If you're keeping score at home that is now three separate PJ Tucker trades in the month of February. Tucker was traded from the Clippers to the Jazz on Saturday, and then went from the Jazz to the Heat in the Jimmy Butler deal on Wednesday night. And now, hours before the deadline, Tucker is being traded from the Heat to the Raptors.
It's a money-saving move for Miami, who gets Davion Mitchell in the deal, per ESPN.
Tucker seems unlikely to stay with the Raptors, who could either trade him again or buy him out after the deadline.
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Warriors still in on Vucevic?
The Warriors might not be done after their major move for Jimmy Butler on Wednesday night. There is still some life to a potential Nikola Vucevic-to-Golden State deal, per K.C. Johnson of NBC Sports Chicago. Vucevic has averaged 19.5 points and 10.4 rebounds per game this season and he is under contract through the 2025-26 season.
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76ers acquire J. Butler (no not that one)
Here's one you don't see every day: the Philadelphia 76ers are trading a future first-round pick to the Washington Wizards for four second-round picks, as first reported by Michael Scotto. Reggie Jackson will also go to Washington, while Jared Butler will go to Philly. According to Bobby Marks, these are the picks involved:
The first-round pick Philadelphia sends to Washington is the least favorable 2026 pick between the Thunder, the Clippers and the Rockets (protected 1-4).
The second-round picks the 76ers get: one in 2027 (most favorable of Golden State and Phoenix), one in 2028 (Golden State), and two in 2030 (most favorable of Portland or Phoenix, and then Washington).
So what's going on here? Well, think of this as the kiddie version of the Suns-Jazz trade from a few weeks ago in which the Suns gave up one very valuable pick (their unprotected 2031 first-rounder) to get three lesser picks (protected first-rounders likely to come at the end of the round). Washington gets a first-round pick here, but the presence of the Thunder within that equation means it's likely to come at the end of the round. The 76ers get a bundle of second-round picks it can separate into multiple deals moving forward.
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Cavs hunting for Hawks wing?
The Atlanta Hawks are taking calls from De'Andre Hunter suitors, and the Cleveland Cavaliers are "emerging as a frontrunner" to land him, according to Sports Illustrated's Chris Mannix. Hunter, 27, is in the Year 2 of a four-year, $90 million extension and is making $21.7 million this season.
Hunter has averaged a career-high 19 points in 28.7 minutes per game this season and made a career-high 39.3% of his 3-point attempts. If the Hawks had traded him this time last year, they might have had to incentivize another team to take his contract. Now that he's in the middle of a bounceback season, it looks like they're trying to sell high.
Cleveland doesn't have many holes on its roster, but it doesn't currently have a 3-and-D-and-more guy who stands 6-foot-8 and is as strong as Hunter. He can defend up and down the positional spectrum, and he shouldn't disrupt the Cavs' chemistry on either end. I'm not going to applaud them until they actually make the deal (and we know the price tag), but, for a team that's trying to chase a championship right now, Hunter makes perfect sense as a trade target.
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Warriors had Durant deal lined up
Kevin Durant was almost a Warrior... again. The Dubs were interested in a reunion and they had a trade lined up to get Durant, while Jimmy Butler would have landed in Phoenix, per ESPN's Brian Windhorst. This deal fell apart because Durant did not want to go back to Golden State, and the Warriors did not want to acquire a disgruntled superstar.
The Athletic adds that KD and Stephen Curry had a recent conversation that left Curry with the impression that a reunion would not be happening.
From reporter Anthony Slater: Stephen Curry had a conversation with Kevin Durant that convinced him a reunion was extremely unlikely, no matter how much the Golden State Warriors ownership group and front office collectively "underestimated" Durant's coldness toward a return, as one team source put it.
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What a deadline for Lakers' Rob Pelinka
It's been a crazy few days for the Lakers and Rob Pelinka. The Lakers GM used the leftover assets he somehow still had after acquiring Luka Doncic to go out and get another key piece on Wednesday night. Here's CBS Sports' Brad Botkin on the deadline's luckiest man:
We are six hours away from the 2025 NBA trade deadline. And if the last four days are any indication, we're probably in for some more fireworks. It's been a hectic stretch that has shaken up the roster of multiple teams. Here's a brief rundown of things that happened just on Wednesday:
So what will happen Thursday? We'll find out soon enough.
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Mark Williams gives Luka, LeBron their lob threat
The Charlotte Hornets have agreed to trade 7-foot-2 center Mark Williams to the Los Angeles Lakers in exchange for Dalton Knecht, Cam Reddish, an unprotected 2031 first-round pick and a 2030 pick swap. Williams is exactly the type of lob-catching, rim-protecting center that Doncic flourished alongside in Dallas.
Meanwhile the Hornets add Knecht, who has shown flashes of brilliance in his rookie season with the Lakers, along with draft capital that will help them down the road should another superstar ever hit the market.
The deal marks not only the end of Ingram's six-year tenure with the Pelicans, but the single biggest shakeup the Pelicans have undergone since dealing Anthony Davis to the Lakers in 2019.
Brandon Ingram has been on the trade block for a long while. And it looks like he very well could be leaving New Orleans before tomorrow afternoon. The Pelicans forward is reportedly being coveted by the Hawks and Raptors, per The Athletic. The two teams in pursuit are "neck-and-neck."
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Warriors acquire Butler in four-team trade, per report
The Golden State Warriors have acquired six-time All-Star Jimmy Butler in a massive trade involving the Miami Heat, Utah Jazz and Detroit Pistons, according to Shams Charania.
As part of the deal, the Heat will receive Andrew Wiggins, PJ Tucker, Kyle Anderson and a protected 2025 first-round pick from the Warriors. The Pistons will get Lindy Waters III and Josh Richardson and the Jazz will add Dennis Schroder.
This deal ends a months-long saga between Butler and the Heat, who suspended the star forward multiple times for conduct detrimental to the team. The latest suspension, an indefinite one, came on Jan. 27 after Butler walked out of shootaround after being told that he would be removed from the starting lineup.
Because the suspension was handed out by the team, and not the league, Butler will be eligible to play with the Warriors immediately once the trade is finalized. He has not played since Jan. 21, so his new team may want to give him a ramp up period.
The Warriors had been desperate to acquire another star to pair with Steph Curry and Draymond Green, and had reportedly called numerous teams to inquire about the likes of Kevin Durant, Paul George and even LeBron James. They finally got their man in Butler, who will give them a much-needed secondary scorer and proven playoff performer.
Notably, Butler has already agreed to a two-year extension with the Warriors, per Charania. Per Bobby Marks, Butler is eligible to sign for $111 million. To do so, he is declining his player option for the 2025-26 season. Butler's long-term plans had been a major hang-up in trade negotiations between the Heat and other teams.
As for the Heat, this brings an era of basketball in Miami to a close. Butler led the team to two surprise NBA Finals trips in 2020 and 2023, and another Eastern Conference finals in 2022. Ultimately, though, the relationship between him and the organization became strained, due in large part to his cavalier approach -- a common story throughout his career.
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Is Golden State getting close to its blockbuster?
According to Yahoo's Kevin O'Connor, "'Jimmy Butler to Golden State' is about as loud in NBA circles as 'Kevin Durant to Golden State' was yesterday at this same time." Obviously no deal is done. Phoenix is likely still desperately exploring any last-minute paths to Butler if they exist, and Miami won't make this deal if there's even the faintest chance it can turn Butler into Kevin Durant, but for now, the Warriors seem to have the momentum to make a deal happen.
So, what does a Butler-to-Golden State trade look like? Andrew Wiggins would probably be the primary matching salary, and he could slot easily into Miami's lineup as Butler's replacement at small forward. Dennis Schroder, who can now be aggregated, stands out as an obvious bit of matching salary as well. The real question here is if the Heat would prefer draft picks or young players like Jonathan Kuminga and Brandin Podziemski. By all accounts, the Heat want to save cap space for the summer of 2026, but Wiggins is already owed money for the 2026-27 season, and Kuminga is going to be a restricted free agent this summer. If that is their return, they'd likely be taking themselves out of the 2026 cap space derby... at least for now.
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Jonas Valanciunas finds a new home
The Washington Wizards are trading Jonas Valanciunas to the Sacramento Kings for Sidy Cissoko and two second-round picks, according to ESPN's Shams Charania. The Kings have a trade exception that can absorb Valanciunas, so they didn't need to send out money to make the deal work. The calculus for them is straightforward: Valanciunas is an upgrade at backup center for them over Alex Len and occasional small-ball option Trey Lyles.
For Washington, the deal is a bit more interesting. Off the bat, they effectively turned a free-agent signing over the summer into some free second-round picks. Not a bad bit of business. But in the broader landscape, it's worth pointing out that they didn't have to absorb any salary to make this deal aside from Cissoko, who makes less than $2 million. That means they just opened up some more money under the luxury tax.
Granted, they took on money this morning when they turned Kyle Kuzma into Khris Middleton, but with their backup center gone, could they now be a team that absorbs Jusuf Nurkic from the Suns? We'll find out by tomorrow, but the Wizards loom as a financial facilitator in bigger deals that might be coming.
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Golden State's backup plan
With Kevin Durant now seemingly off of the table for Golden State, it looks like the Warriors have turned their attention to Jimmy Butler as their next preferred trade target, according to Marc Stein. A possible Butler-to-Golden State deal was scuttled over the weekend because Butler, at the time, was not interested in re-signing in Golden State. Has that changed?
It's worth wondering here how engaged Miami is on this sort of trade. There have been rumblings that the Heat would like to use Butler to try to land Kevin Durant from Phoenix. Just because Durant is off of the table for the Warriors does not necessarily mean he won't be traded at all. If the Heat have their way, they would surely prefer to get Durant than anything the Warriors have to offer. So now, the Heat are negotiating on two fronts.
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Sims City
The New York Knicks are "expected to move" Jericho Sims before the deadline, per ESPN's Tim Bontemps. It's not yet clear which of the "several teams that have expressed interest" in Sims will get him.
It is not surprising that the Knicks are going to trade one of their centers. On Jan. 13, the New York Post's Stefan Bondy reported that they were shopping the 26-year-old Sims. The big question, though, is what will happen to the other big men on the roster. Mitchell Robinson has been a popular trade candidate, but SNY's Ian Begley reported Wednesday the team is unlikely to trade him before the deadline. Is New York confident enough in Robinson staying healthy once he returns from his ankle injury (or rookie Ariel Hukporti holding down the fort) to trade Precious Achiuwa? Achiuwa is on a $6 million expiring contract.
For the last two months, Sims has been mostly out of the rotation. He's an incredible athlete, though, and he's tough to keep off the offensive glass. He wasn't able to establish himself as an every-night backup under coach Tom Thibodeau, but it could potentially happen elsewhere.
Sims is on a $2.1 million expiring contract. The Knicks' payroll is right up against the second apron, so, if they get a player in return for Sims, said player must have a lower salary than that.
Things are no longer looking good for the chances of Kevin Durant rejoining Stephen Curry with the Warriors. But the Suns still have KD on the trade block. And Jimmy Butler still wants to go to Phoenix. So why not kill two trade deadline birds with one stone and swap Durant for Butler? It's possible. ESPN's Brian Windhorst said Wednesday afternoon that if KD is, in fact, traded by tomorrow afternoon, the current most likely destination is Miami.
