(Analysis)
Though there are still a handful of moves remaining between restricted free agent extensions and filling out final roster spots, the NBA picture for the 2025-26 season is now largely in focus. The Houston Rockets, Los Angeles Clippers, Dallas Mavericks and Denver Nuggets retooled with superstar trades and draft-day no-brainers, and the Orlando Magic, Atlanta Hawks and Milwaukee Bucks took huge swings to compete in what is suddenly a wide-open Eastern Conference. On the other end of the spectrum, some teams shed contracts (and talent) to get under the collective bargaining agreement’s punitive second-apron payroll threshold, and the Chicago Bulls and New Orleans Pelicans left fans scratching their heads. Here is how our experts grade the offseason acquisitions for all 30 teams.
EASTERN CONFERENCE
Atlanta Hawks
Grade: A
Getting an unprotected lottery pick from New Orleans to move down 10 spots in a blah draft made this offseason a huge success on its own. The Hawks also walked away with Nickeil Alexander-Walker, Luke Kennard and Kristaps Porzingis at a cost of … Terance Mann, Georges Niang, Clint Capela and the 22nd pick in the draft. The Hawks still need one more big body, and extension questions loom for Porzingis and Trae Young. -- JOHN HOLLINGER
Brooklyn Nets
Grade: C
The Nets had, perhaps, the NBA’s biggest blank canvas for their offseason, but they haven’t done much with it yet. Their patience in offloading Cam Johnson paid off: They got the Nuggets’ unprotected 2032 first-round pick and Michael Porter Jr., who will be a solid placeholder as the team continues to rebuild. They also fared well taking on Terance Mann’s salary as a facilitator in the Kristaps Porzingis deal to add another first in June’s draft. But to use all five of their first-round picks this summer to take players who were mostly reaches and have a lot of skill overlap was disappointing. They also still have unfinished business with the restricted free agent Cam Thomas. -- JARED WEISS
Boston Celtics
Grade: C-minus
The Celtics have been able to shed significant salary. They have wisely pushed themselves under the collective bargaining agreement’s second apron in a season they will at least begin without Jayson Tatum. They have already lost Kristaps Porzingis, Jrue Holiday and Luke Kornet, and they expect to lose Al Horford, though they did pick up Chris Boucher to bolster their frontcourt. General manager Brad Stevens did solid work to solve his team’s salary-cap issues without burning draft capital, but he must next figure out how to fill the new holes in his roster. -- JAY KING
Charlotte Hornets
Grade: B
The Hornets had a solid offseason to continue their rebuilding project. They took Kon Knueppel with the No. 4 pick and already have a trophy as a result. The return they got for Mark Williams was good: Liam McNeeley is the kind of strong-pedigreed prospect worth taking a shot on in the draft, and they get a future first, as well. Getting a second-round pick with Collin Sexton to trade out Jusuf Nurkic continues to boggle the mind. The long-term success of the Hornets will center on their young players and amassing as many talented ones as they can, and Charlotte was successful in adding to that war chest in present and future investments. -- MIKE VORKUNOV
Chicago Bulls
Grade: D-plus
Chicago still has not committed to a rebuild. Fans have begged for a sign of progress, or at least something that signals change. The Bulls responded this summer by extending coach Billy Donovan and dealing away Lonzo Ball without receiving any draft capital. Perhaps Noa Essengue could bloom into a starter. Perhaps Isaac Okoro could become rejuvenated in Chicago. But those things hinge on the promise of internal development. -- JOEL LORENZI
Cleveland Cavaliers
Grade: B
Salary realities (read “second apron”) made it unlikely for this team to trade for anyone who would make it markedly better than the one that finished first in the East. I like the Lonzo Ball acquisition and am glad that Isaac Okoro gets a chance in Chicago. I don’t mind declining to pay Ty Jerome above market value, given his postseason struggles, and Tyrese Proctor made sense to me with the 49th pick. Otherwise, the Cavs simply were not in a position to make that splashy trade. They committed to this roster two years ago, and they need to ride out their commitment for at least this season. -- JOE VARDON
Detroit Pistons
Grade: B-minus
Patience has been a keyword for Trajan Langdon, the Pistons’ president for basketball operations, since Detroit’s season ended. His offseason moves have reflected his stance. Chaz Lanier played solidly during Summer League and could eventually find minutes off the bench with his 3-point shotmaking. Jaden Ivey should slot back in as the starting shooting guard. Duncan Robinson will look to make up for the void Malik Beasley’s historic 3-point shooting left. Caris LeVert probably assumes Dennis Schröder’s primary ball-handling responsibilities on the second unit. The Pistons also re-signed veteran Paul Reed to round out their big-man rotation. With no clear-cut favorite in the East, Detroit is betting on the growth of its young core. -- HUNTER PATTERSON
Indiana Pacers
Grade: C-minus
It remains to be seen what the Pacers are going to do at center. With big man Myles Turner off to Milwaukee, Jay Huff, Tony Bradley, Isaiah Jackson and James Wiseman are all likely to get playing time. The uncertainty at center certainly affects Indiana’s outlook. And with star guard Tyrese Haliburton out for the season, the Pacers have a lot to figure out if they are looking to contend in the East. -- SHAKEIA TAYLOR
Miami Heat
Grade: B-minus
The Heat have done a decent job of building this roster while maximizing the limited assets they brought into the offseason. Turning Kevin Love and Kyle Anderson into Norman Powell was a major win, even if Powell is 32 and looking for a new contract. Drafting Kasparas Jakucionis at No. 20 was also a win, given that many analysts regarded him as a top-10 pick for most of the summer. Bringing back Davion Mitchell on a reasonable deal was smart, too. The biggest remaining question involves what they will do about Terry Rozier and the one year and $26.6 million remaining on his deal. Once that is resolved, this team should have enough to compete for a top-six spot in the depleted East. -- WILLIAM GUILLORY
Milwaukee Bucks
Grade: B
The Bucks were dealt a bad hand when Damian Lillard tore his left Achilles tendon in the playoffs. Bucks general manager Jon Horst opted for the largest waive-and-stretch in NBA history, tying up $22.5 million for each of the next five seasons. That is going to be a serious team-building handicap moving forward, but the roster is in a better place now than it was after the Bucks were eliminated from the postseason. Myles Turner affects games in the same way former center Brook Lopez did, and Turner is eight years younger. The Bucks brought back the rest of the roster that put together a 10-4 record to end the season, and they added Cole Anthony. -- ERIC NEHM
New York Knicks
Grade: B-plus
Given that the Knicks were one of the most financially tight teams in the NBA this offseason, adding two legitimate role players in Jordan Clarkson and Guerschon Yabusele is nothing to sneeze at. New York needed depth, and it got that in the form of a bench scorer and a utility forward. The Knicks were also able to secure a long-term extension with Mikal Bridges for four years and $150 million, $6 million less than his maximum salary. The Knicks now have their core set up for the next several years, and Bridges’ signing for less than the max extension may help New York stay under the second apron going forward. -- JAMES L. EDWARDS III
Orlando Magic
Grade: A-minus
If there were any questions before about how relevant the Magic were, that is settled now, with the team’s trade for Desmond Bane and, to a lesser extent, the signing of Tyus Jones and additions of assistants Joe Prunty and God Shammgod. The Magic also reached a maximum-salary contract extension with their top player, Paolo Banchero. Orlando may be in the East title-contention mix and should field its best team since Dwight Howard’s heyday. So why an A-minus instead of an A? The price to trade for Bane included four unprotected first-round picks and a 2029 first-round pick swap, and that price will feel even heavier if the outgoing 2026 first-rounder becomes a lottery pick. -- JOSH ROBBINS
Philadelphia 76ers
Grade: B
None of this matters unless Joel Embiid and Paul George have a run of good health. That being said, I loved Daryl Morey’s draft: VJ Edgecombe has a real chance to become a star, and second-round pick Johni Broome should develop into a rotation player. Getting Jabari Walker on a two-way contract was a steal. Trendon Watford will be a good and versatile addition to the group. Though you can argue that the Sixers need a starting power forward, Philadelphia is a deeper and more athletic team than it was a season ago. But Embiid and George have to be healthy, and there is no way to predict how that will play out. -- TONY JONES
Toronto Raptors
Grade: B-minus
By signing Brandon Ingram to a three-year, $120 million extension in February, the Raptors essentially sat out free agency. They drafted Collin Murray-Boyles -- who doesn’t address a need but fits in with the defend-and-hustle ethos of their younger players -- with the ninth pick. The Jakob Poeltl extension was perhaps a little rich, but he is a good player whom the Raptors need. They took a reasonable flier on Sandro Mamukelashvili to back up Poeltl. However, nothing they did in the offseason will be as important as what they did with Ingram in February or the deals they gave Scottie Barnes and Immanuel Quickley last summer. -- ERIC KOREEN
Washington Wizards
Grade: B
You can’t fault the Wizards for a lack of effort or a lack of ingenuity. In addition to picking Tre Johnson, perhaps the draft’s best shooter, they made myriad smart moves to create additional cap space for 2026. None of those moves was more important than shedding Jordan Poole’s onerous $34 million salary for 2026-27 by trading Poole and Saddiq Bey to the New Orleans Pelicans in what turned out to be a three-team deal. As part of that transaction, the Wizards also added promising talent Cam Whitmore from the Houston Rockets for two future second-round picks. Washington mastered moves along the margins, though a better outcome in the draft lottery would have been preferred. -- JOSH ROBBINS
WESTERN CONFERENCE
Dallas Mavericks
Grade: A
Mavericks fans have reason to hope again. The team lucked into the No. 1 pick and selected Cooper Flagg, and the 18-year-old Duke product is expected to be a monster. He affects the game in so many ways. Dallas has had some smaller wins, too. Persuading Kyrie Irving to decline his $43 million player option for next season and re-up on a new deal gave the Mavericks access to the taxpayer midlevel exception, which they used to sign D’Angelo Russell. Daniel Gafford’s extension ($54.4 million over three years) was another piece of good business. -- CHRISTIAN CLARK
Denver Nuggets
Grade: A-plus
Denver, in my eyes, won the offseason. The Nuggets added depth and shooting. They upgraded significantly from Michael Porter Jr. to Cam Johnson at small forward. Getting Tim Hardaway Jr. on a vet-minimum deal was a steal, and they will return Bruce Brown. The Nuggets also acquired the best backup center Nikola Jokic has ever played with in Jonas Valanciunas. Denver has its best chance of winning a championship since its 2023 title team. The Nuggets are loaded. -- TONY JONES
Golden State Warriors
Grade: Incomplete
The Jonathan Kuminga situation has created quite an offseason logjam for the Warriors, who must get his restricted free-agency outcome right if they have any hope of adding another pivotal player. But they might have to re-sign him and wait until the February trade deadline to fulfill that desire. As such, it is pointless to assess a grade until we know where he is heading (if anywhere) and what they might be able to do as a result. Meanwhile, rumored additions like Al Horford and De’Anthony Melton have yet to be confirmed. Boom or bust are still both in play here. -- SAM AMICK
Houston Rockets
Grade: A
The acquisition of Kevin Durant by a 52-win team without cratering its depth was enough to cap a strong Rockets offseason, but the veteran additions of Dorian Finney-Smith and Clint Capela on team-friendly contracts put Houston in rare summer air. The organization was also able to retain the key rotational members Fred VanVleet, Steven Adams and Jabari Smith Jr. without handcuffing themselves financially -- and the Rockets are now perhaps the deepest team in basketball. This team has shifted from a patient rebuild to an aggressive championship push in fewer than three seasons and now has the personnel to play any style that coach Ime Udoka wants. Houston’s time is now. -- KELLY IKO
Los Angeles Clippers
Grade: A-minus
The Clippers had two primary problems, one apparent throughout the regular season and another in the postseason. The regular-season problem: turnovers, which they addressed with Bradley Beal, who replaces Norman Powell, and Chris Paul, who replaces Patty Mills. The postseason problem: the lack of playable noncenter athletic size options, which they addressed with John Collins, who replaces Amir Coffey, and Brook Lopez, who replaces Ben Simmons. They also re-signed James Harden and Nicolas Batum, and Kawhi Leonard is healthy. The only legitimate complaint is that the team is older. But the Clippers are also deeper and better, and that is more relevant than age. -- LAW MURRAY
Los Angeles Lakers
Grade: B-minus
If we grade the Lakers against what they were trying to accomplish this offseason, it’s hard to think of a way they could have done better than Deandre Ayton, Jake LaRavia and Marcus Smart without sacrificing draft picks or significant assets. If we grade them against the rest of the West, you can’t say on paper that they kept up with the Rockets, the Nuggets or maybe even the Clippers. But Luka Doncic’s extension (and role in signing Ayton and Smart) bodes well for a long-term relationship between the organization and the star. The awkwardness with LeBron James is less than ideal, but on the whole, the Lakers improved this summer. -- DAN WOIKE
Memphis Grizzlies
Grade: B
The Grizzlies’ offseason was a setup for whatever comes next, with a draft-pick bounty from the Desmond Bane trade and a rebalanced cap sheet. Even with Jaren Jackson Jr.’s expensive extension, Memphis is $21 million below next summer’s projected first apron and will hope the Suns’ ineptitude delivers a high lottery pick. The Grizzlies probably overpaid for Cedric Coward on draft night, but they got value in Ty Jerome’s contract and their return on Bane. Can Tuomas Iisalo coach? Is there a starting center here? Grading this offseason is tough because it’s a wait-and-see process. -- JOHN HOLLINGER
Minnesota Timberwolves
Grade: B
The Timberwolves had one of the most expensive rosters in the league last season, and they had the 17th pick in the draft. Those two details meant they didn’t have much money to spend in free agency, and they didn’t have a top-five pick to use as ammunition for a splashy summer. But they did spend $225 million to re-sign Julius Randle and Naz Reid, retaining two crucial pieces of their run to the Western Conference finals. They are also sky-high on the potential of their first-round pick, Joan Beringer. The Wolves’ biggest departure was Nickeil Alexander-Walker, who left to sign with Atlanta. But they believe that youngsters Terrence Shannon Jr., Rob Dillingham and Jaylen Clark will help mitigate that loss. -- JON KRAWCZYNSKI
New Orleans Pelicans
Grade: D
The Pelicans’ stunning draft-day trade that sent their unprotected 2026 first-round pick to the Atlanta Hawks has been a consistent source of conversation for the past few weeks -- and it’s not just because of the tremendous risk New Orleans is taking by accepting such a deal. Despite continual concerns over Zion Williamson’s health and an inexperienced roster, New Orleans’ front office expects the Pelicans to make a playoff run in a treacherous Western Conference. Even if you like the Pelicans’ rookie additions of Jeremiah Fears and Derik Queen, the recent news that Queen had wrist surgery and will be sidelined for three months adds to the long list of obstacles this team has to overcome. -- WILLIAM GUILLORY
Oklahoma City Thunder
Grade: A
When you’re the champ, not opting for a makeover is fine. Especially in the case of the Thunder, who deploy one of the youngest rotations in the NBA. Oklahoma City not only chose not to meddle with its core, but also locked up its three stars for the future in Shai Gilgeous-Alexander, Jalen Williams and Chet Holmgren. If you’re looking for a cherry on top, pseudo-rookie Nikola Topic played well in Summer League. -- JOEL LORENZI
Phoenix Suns
Grade: C-plus
The Suns deserve credit for pulling the plug on a miserable stretch. They made a coaching change, hired a new general manager and overhauled the roster. Kevin Durant was traded to the Houston Rockets. Bradley Beal was bought out. And they got off the second apron, which gives them roster flexibility. Still, it was only a first step. Questions remain. How will a Devin Booker-Jalen Green backcourt work? Can center Mark Williams stay healthy? (Coming off the Beal experience, trading for an injury-prone center was indeed head-scratching.) Can rookie big man Khaman Maluach help anytime soon? Growing pains usually come with change. The Suns may experience some for a while. -- DOUG HALLER
Portland Trail Blazers
Grade: C
If this offseason were about intrigue and heartstrings, the Blazers would get an A. But when it comes to basketball moves, Portland’s summer was a curious, confusing exercise. Signing an injured Damian Lillard healed fans’ wounded hearts. The surprise draft of Chinese center Yang Hansen at No. 16 has the look of a fun project, and the trade for an aging Jrue Holiday and his $100 million-plus contract would be palatable if the Blazers were on the cusp of contending … but they are not. There are plenty of questions about roster fits, but no question is bigger than the one left by the trade of Anfernee Simons to Boston: Do the Blazers have enough shooting? -- JASON QUICK
Sacramento Kings
Grade: C
I was tempted to go with “Incomplete” here, as the Kings remain engaged on the Jonathan Kuminga front. But they have made substantive moves that we can evaluate, chief among them the calculated risk of signing Dennis Schröder (three years, $45 million with a small partial guarantee in the final season). The point guard void had to be filled after the previous front office regime traded De’Aaron Fox to San Antonio. First-year general manager Scott Perry was aggressive in landing shooting guard Nique Clifford in the draft, sending a 2027 protected first to Oklahoma City to bring the 23-year-old from Colorado State to town with the 24th pick. All in all, it’s going to take Perry a while to clean up this messy roster. -- SAM AMICK
San Antonio Spurs
Grade: B-plus
One of the side effects of Victor Wembanyama’s rapid improvement last season was the debate about whether the team needed to accelerate its timeline to start competing as soon as possible. The De’Aaron Fox trade in February fed into that notion, but the Spurs wisely didn’t take it too far this summer by trading for Kevin Durant. They showed they weren’t afraid to be patient when they drafted Dylan Harper at No. 2, and selecting Carter Bryant at No. 14 gives them a tough 3-and-D wing to develop in an already-deep rotation. They brought in Luke Kornet for just less than the midlevel exception with a team-favorable structure, giving Wembanyama a steady backup and keeping the locker-room vibes positive as the team starts to face higher expectations. -- JARED WEISS
Utah Jazz
Grade: B
A lot of people are focused on essentially giving Collin Sexton away and allowing Jordan Clarkson to walk for nothing in return. And, for sure, it’s not ideal that the Jazz didn’t get much, if anything, for two good players. But this offseason was about clearing the way for the Jazz to again be terrible next season, in order to put themselves in position to keep their pick in the 2026 draft. Remember, that pick is owed to the Oklahoma City Thunder, top-8 protected. So the Jazz have to be one of the worst eight teams in the league. In that sense, it was a successful offseason. -- TONY JONES
This article originally appeared in The New York Times.
Copyright 2025