10 NBA Teams to Watch in the 2025 Offseason

Boston Celtics

“The CBA has been well known for years. So there are penalties associated with being at certain levels, and we know that. You just weigh that. You weigh where we are. You weigh everything else, then you make those decisions.” — Brad Stevens, May 2025

Brad Stevens, the Celtics` president of basketball operations, fully understands the implications of their projected $500 million payroll and the stringent roster constraints imposed by exceeding the salary cap`s second apron.

Unlike the previous season, where an NBA championship victory largely justified the high payroll, Boston`s roster is now under scrutiny following their second-round playoff exit, compounded by superstar Jayson Tatum`s Achilles injury during the series.

Currently, the Celtics are $23 million over the second apron. Without the Brooklyn Nets being willing to absorb Kristaps Porzingis`s $30.7 million expiring contract, the path to getting under the second apron through a single trade is complex. Reducing salary will likely require multiple transactions.

With core players like Tatum, Jaylen Brown, and Derrick White under contract until at least the 2028-29 season, Boston faces the challenge of balancing cost-cutting measures with their ongoing championship aspirations.

Remaining over the second apron imposes specific restrictions on the Celtics, including the inability to:

• Combine multiple contracts in a trade deal.
• Utilize more than 100% of a traded player exception.
• Include cash in trade packages.
• Use pre-existing trade exceptions.
• Sign a waived player whose salary was $14.1 million or higher.

Furthermore, if the Celtics finish the 2025-26 season still above the second apron, their 2033 first-round draft pick will become frozen (their 2032 pick is already frozen).

Brooklyn Nets

“If you’re going after max-level talent, they have to automatically and absolutely change the trajectory of your team. This can’t be like let’s go get this [guy] and lock ourselves into being a 6-7 seed. When we go all-in, you’re going in to compete at the highest level and contend.” — Sean Marks, April 2025

The Brooklyn Nets possess two significant assets this offseason that most other teams do not: four first-round draft picks in June and over $40 million in salary cap space.

However, unlike the 2019 offseason when they signed Kevin Durant and Kyrie Irving in free agency, the current roster, even with the addition of an All-NBA caliber player, isn`t considered championship-ready.

This positioning makes Brooklyn a likely candidate to sign free agents to potentially inflated contracts (similar to Indiana`s signing of Bruce Brown in 2023), absorb salary from other teams in exchange for draft capital, or target restricted free agents with offer sheets.

It`s important to note that Brooklyn cannot fully utilize most of its available cap space during the regular season; teams are mandated to spend at least 90% of the salary cap by the first day of the regular season. Factoring in their four first-round picks, Brooklyn has approximately $79 million in current salary commitments and will need to spend an additional $60 million to meet the minimum salary floor.

Denver Nuggets

“We definitely need to figure out a way to get more depth. It seems like the teams that have longer rotations, the longer benches, are the ones who are winning. Indiana, OKC, Minnesota.” — Nikola Jokic, May 2025

Comments from the three-time MVP did not surprise Nuggets president Josh Kroenke. Kroenke confirmed last month, “I heard Jokic`s comments loud and clear. I mean, I think that I was thinking that before those words came out of his mouth.”

With Jokic having three years remaining on his contract, there`s a clear sense of urgency to strengthen the roster, particularly the bench unit. The Nuggets` starters averaged an impressive 94.4 points in the regular season, which is the highest mark for any team since the 1986-87 season, according to ESPN Research.

The Nuggets have essentially three potential avenues to improve their depth:

• Develop their recent draft selections such as Jalen Pickett, Peyton Watson, Julian Strawther, Hunter Tyson, and DaRon Holmes into reliable rotation players.
• Acquire players via trade. Since Denver has only one first-round pick available to trade in either 2031 or 2032, their primary tangible asset is Michael Porter Jr. Porter Jr. achieved a career-best 18.2 points per game this season and is owed $38.3 million and $40.8 million over the next two seasons, respectively. Additionally, Denver has the combined $13.5 million salaries of Zeke Nnaji and Dario Saric. However, as Denver is projected to be a first apron team, they are restricted in their ability to take back salary in trades.
• Sign players through free agency. This option appears unlikely given the Nuggets` top-heavy salary structure, with Jokic, Jamal Murray, Porter Jr., and Aaron Gordon accounting for 82% of their total payroll. Furthermore, the initial year of Murray`s contract extension will push Denver above the first apron again. Unless a trade occurs to significantly reduce salary, Denver`s most viable option in free agency is likely limited to the veterans minimum exception.

Golden State Warriors

“We`re good at giving up whatever it takes. It just depends on how good we think that will make our team. I think the only issue with mortgaging the future is you just don`t want to get caught. I don`t want to get caught in a situation where we give up a ton, put all our chips in, and then 10 games into the season, we have a catastrophic injury, there`s nowhere to go and then we`re stuck for four or five years.” — Mike Dunleavy Jr., May 2025

Golden State General Manager Mike Dunleavy Jr. possesses the draft assets necessary to make a significant “all-in” move.

Starting from the night of the draft, the Warriors are permitted to trade up to four first-round picks: 2026, 2028, 2030 (if it falls within picks 1-20), and 2032. They also hold the right to swap first-round picks in the next seven years, contingent on their 2030 pick being in the top 20.

However, the main challenge lies in assembling a substantial salary package for a trade without including Draymond Green or Jimmy Butler III. Stephen Curry, Butler III, and Green collectively comprise 85% of Golden State`s payroll. The remaining six players under contract are slated to earn a combined $30 million next season. These salary constraints highlight the crucial role Jonathan Kuminga plays in the Warriors` offseason plans.

The Warriors are expected to extend a $7.9 million one-year qualifying offer to Kuminga, making him a restricted free agent. With the Brooklyn Nets being the only team capable of offering a starting salary of $20 million or more (which Golden State would have the right to match), exploring a sign-and-trade could be the most favorable option.

There are two primary hurdles in executing a sign-and-trade, apart from Kuminga needing to sign a contract of at least three years with the first season guaranteed. Firstly, only 50% of Kuminga`s outgoing salary is used in the trade calculation, not the full amount. (For example, if the first-year salary is $30 million, only $15 million counts towards outgoing salary for Golden State, while the acquiring team receives $30 million in incoming salary.)

Secondly, Golden State is currently $25 million below the first apron. This means they would not be allowed to acquire a player earning more than that amount unless additional salary is included in the trade package to balance it.

Houston Rockets

“I think continuity for continuity`s sake isn`t what we`re trying to achieve. Continuity is great, but the goal ultimately is to build a championship team. And if we think that there`s a move or a series of moves that make it more likely we will be that then, then we would ignore continuity, and we do those moves.” — Rafael Stone (via Houston Chronicle)

Given the Rockets` General Manager Rafael Stone`s stated willingness to sacrifice continuity in pursuit of acquiring an All-NBA caliber player, Houston is poised to be aggressive this offseason.

Houston possesses the three essential components needed to acquire a superstar:

• Draft equity: Houston holds five tradeable first-round picks over the next seven years, including the 10th overall pick in this year`s draft and valuable unprotected first-rounders in 2027 (from Phoenix) and 2029 (from Phoenix or Dallas, whichever is more favorable). They can also trade their own first-round picks in 2028, 2030, and 2032.
• Controllable contracts: The Rockets have five young players – Jabari Smith Jr., Tari Eason, Reed Sheppard, Cam Whitmore, and Amen Thompson – signed to first-round rookie contracts, providing cost-controlled assets.
• Sizable contracts: Alperen Sengun and Jalen Green signed rookie contract extensions last October. The “poison pill” restriction on their contracts is lifted on July 1, making them fully trade-eligible. Both players are set to earn $33 million next season. Additionally, Dillon Brooks has two years remaining on his contract, earning $22.1 million and $20.9 million, respectively.

The Rockets also face a decision on Fred VanVleet`s $44.9 million team option, which must be exercised by June 29. Houston`s choice regarding VanVleet will significantly impact their financial flexibility for trades and their ability to retain free agent Steven Adams.

Houston`s performance in their first-round series against Golden State was notably strong when Steven Adams was on the court alongside Alperen Sengun. When both players were on the floor during this postseason, the Rockets posted a net rating of plus-30.7 points per 100 possessions, compared to plus-30 in the regular season, highlighting their impact.

Including the team options for VanVleet, Aaron Holiday, and the non-guaranteed contract of Jock Landale, Houston is currently positioned right at the first salary apron.

Los Angeles Lakers

“I think when you make a huge trade at the deadline where you trade your starting center for a point guard, of course, that`s going to create significant issues with the roster, and we saw some of those play out. We know this offseason, one of our primary goals is going to be to add size in our frontcourt at the center position.” — Rob Pelinka, May 2025

Lakers General Manager Rob Pelinka attempted to address the team`s need for size by trying to acquire Charlotte Hornets center Mark Williams at the trade deadline. The goal was to provide a lob threat for Luka Doncic and help fill the void created by trading Anthony Davis. However, the trade was ultimately rescinded after Williams failed his physical examination.

While the Lakers lack salary cap space to pursue a significant free agent like Myles Turner, they possess valuable trade assets. These include a 2031 or 2032 first-round pick, the right to swap first-round picks in five future years, their 2024 first-round pick Dalton Knecht, and over $70 million in expiring contracts (belonging to players like Reaves, Dorian Finney-Smith, Rui Hachimura, Maxi Kleber, and Gabe Vincent) that can be utilized in trade scenarios.

The Lakers continue to navigate the challenge of balancing a “win-now” approach, driven by LeBron James`s presence on the roster, with the objective of building a sustainable core for the future centered around Luka Doncic. Doncic is eligible to sign a substantial four-year, $229 million contract extension on August 2.

Milwaukee Bucks

“Me not having a second championship — I look back at my career and everybody can say, `Oh, incredible career, active Hall of Famer, first ballot, whatever. But me, my personal goal, if I am not able to help my team win a second ring, I`m letting down myself.” — Giannis Antetokounmpo, April 2025 (via Thanalysis podcast)

The Milwaukee Bucks are set to be a central point of discussion in the NBA universe this offseason for two primary reasons.

ESPN`s Shams Charania reported in mid-May that Giannis Antetokounmpo is considering whether his long-term future is best served by remaining with the Bucks or exploring options elsewhere.

Antetokounmpo is currently under contract for the next three seasons, with the 2027-28 season being a player option. The 30-year-old two-time MVP will become eligible to sign a significant four-year, $293.4 million extension in the 2026 offseason, a possibility whether he stays with the Bucks or moves to a new team.

As is the case each offseason, there is pressure on Milwaukee to assemble a roster capable of competing for another championship around their former MVP.

Improving the current top-heavy roster structure may prove difficult this summer. Milwaukee is limited in trading multiple first-round picks and can currently only move its 2031 or 2032 selection. The combined salaries of Antetokounmpo, Damian Lillard, and Kyle Kuzma will account for $130 million out of the Bucks` projected $164 million payroll next season.

Damian Lillard will turn 35 in July and is owed $113 million over the next two seasons while recovering from a torn Achilles. Brook Lopez, Bobby Portis, Taurean Prince, Kevin Porter Jr., and Gary Trent Jr. are all players who could potentially become free agents this summer (Portis and Porter Jr. hold player options). However, there are positive aspects. Milwaukee is no longer in a state of severe financial restriction and has the flexibility to add players through free agency or trade. They also compete in a relatively wide-open Eastern Conference, where no single team is considered the overwhelming favorite for next season.

Orlando Magic

“We`re ready to kind of turn the page on our rebuild and enter the next stage of our team and look at it through a more win-now lens.” — Jeff Weltman, April 2025

It might be an understatement to call Jeff Weltman conservative, but Orlando`s head of basketball operations has consistently tried to navigate a strategy of simultaneously drafting, developing, retaining talent, and competing for a top-six playoff seed in the Eastern Conference.

Since 2021, Orlando`s primary roster-building method has been through the NBA draft. The Magic currently have a league-leading nine players on their roster who were selected by the team in the draft, with only two players – Wendell Carter Jr. and Gary Harris – acquired via trade. This strategy has yielded temporary success, with Orlando reaching the first round of the playoffs in two consecutive seasons. However, they failed to advance in either appearance. With the first years of Franz Wagner and Jalen Suggs`s contract extensions set to begin, the Magic are projected to exceed the luxury tax threshold and the first salary apron.

How the Magic take the crucial next step depends on Weltman`s approach when the team is healthy and whether Orlando can genuinely compete for a top-four seed in the Eastern Conference. The team navigated the regular season with their top four scorers – Paolo Banchero, Suggs, Franz Wagner, and Moritz Wagner – each missing at least 20 games due to injury. The team`s core trio of Banchero, Suggs, and Franz Wagner played together in only six games, accounting for a mere 3% of Orlando`s total possessions.

Despite the injury challenges, the Magic possess the necessary draft assets and controllable contracts to be aggressive this offseason if external help is needed. Orlando became the first team since the 2016-17 Oklahoma City Thunder to rank last in 3-point shooting percentage and still make the postseason. Not only do they hold two first-round picks in this year`s draft, but they also have the flexibility to trade up to four first-round selections over the next seven years. They also hold the right to swap first-round picks in several future seasons.

Phoenix Suns

“I want my career to end on my terms, that`s the only thing. That`s the only thing I`m worried about. `Cause I see a lot of dudes that don`t get that opportunity, so I want to keep putting in that work to make that choice on my own.” — Kevin Durant, via `The Draymond Green Show with Baron Davis`

If Giannis Antetokounmpo represents the top target (1A) on teams` wish lists this offseason, then Kevin Durant is undeniably a very close second (1B).

The 37-year-old forward averaged 26.6 points per game last season, ranking sixth in the NBA. He has averaged fewer than 25 points only once throughout his career, during his rookie season.

Following two seasons that were expensive and failed to meet expectations, the Suns are likely to undergo a roster reset, potentially beginning with exploring trade possibilities for their All-Star forward. Durant is entering the final year of his contract, and without either an extension or a trade, the Suns face the risk of losing him without receiving any assets in return next offseason.

There are three key factors that could significantly influence the trade package Phoenix might receive for Durant:

• Can Phoenix reduce its salary sufficiently to drop below the second apron, which would allow them to aggregate contracts sent out in a trade? Alternatively, can they get below the first apron to use more than 100% of a traded player exception? The Suns are currently projected to be $25 million over the second apron but could shed considerable salary if Cody Martin ($8.7 million) is waived, Vasilije Micic`s $8.1 million team option is declined, and Bradley Beal`s contract is bought out. The same salary apron rules would apply to any team interested in acquiring Durant`s $54.6 million salary.
• Is Durant willing to agree to a two-year, $112 million contract extension with a new team?
• Is the team acquiring Durant still positioned to realistically compete for a championship after making the trade?

San Antonio Spurs

“It just shows that they`re not here to waste time and they`re willing to take the next step on time. We`re moving forward. I think it`s a good step in the building of our future.” — Victor Wembanyama, February 2025

Similar to the Houston Rockets, the San Antonio Spurs meet the necessary criteria – possessing significant draft assets, promising young players, sizable contracts, and a desire to accelerate their timeline – to potentially add a third star alongside Victor Wembanyama and De`Aaron Fox.

San Antonio not only holds two picks in the upcoming draft lottery, including the highly valuable No. 2 selection, but the Spurs also have the right to swap first-round picks with the Atlanta Hawks in 2026, own the Hawks` unprotected first-round pick in 2027, and possess multiple other pick swap rights. The Spurs are also permitted to trade two of their own future first-round picks (either 2029 and 2031 or 2030 and 2032). In addition to their first-round capital, the Spurs have an extensive collection of 17 second-round picks available to trade.

Furthermore, the Spurs benefit from considerable financial flexibility, giving them an advantage in aggregating contracts in trades and taking back more salary than they send out. Entering the offseason, San Antonio is positioned well below both the first and second salary aprons, approximately $32 million and $44 million below them, respectively. Not including Fox and Wembanyama, the Spurs roster includes 10 players with salaries ranging from $3 million to $27 million, providing various contract options for trade constructions.