NBA Free Agency Kicks Off With Surprising Deals

Summary:

• NBA free agency has officially begun, with Jaren Jackson Jr. already set to sign a five-year, $240 million extension with Memphis.
• Michael Porter Jr. was traded to the Nets for Cam Johnson in a significant early trade.
• The Bucks and 76ers made smaller but savvy moves to shore up depth.

The free agency window opened Monday evening, kicking off at 6 p.m. ET, and it didn’t take long for the action to start rolling.

With the league’s salary cap officially set at $154.647 million for the 2025–26 season, a 10% increase from last year, teams wasted little time diving into the market.

First Deal Announced Within an Hour of Opening

It took about an hour before the first big move dropped. According to ESPN’s Shams Charania, the Grizzlies will be inking a five-year, $240 million max extension with Jaren Jackson Jr.

Not long after that news dropped, Charania had another big move to remove, this time regarding the Nuggets’ trade of Michael Porter Jr. to the Nets for Cam Johnson, a major deal that could shake up both teams moving forward.

Several other teams made noise Monday night. The Houston Rockets landed Dorian Finney-Smith on a four-year, $53 million deal, while Memphis stayed active by signing guard Ty Jerome to a three-year, $28 million contract.

The Mavericks added depth at point guard, reaching a two-year, $13 million agreement with D’Angelo Russell.

Some of the biggest waves were already made over the weekend. The Phoenix Suns shook things up by dealing Kevin Durant to the Rockets for Jalen Green, Dillon Brooks, and the No. 10 pick in the 2025 draft (Khaman Maluach).

Boston also began retooling, sending Jrue Holiday to Portland and Kristaps Porziņģis to the Hawks.

A few familiar faces are sticking with their current squads. LeBron James opted into his $52.6 million deal with the Lakers, reaffirming his goal of chasing another title.

James Harden is also staying in L.A., this time with a fresh two-year, $81 million deal. Meanwhile, Julius Randle agreed to a three-year, $100 million contract to remain in Minnesota.

The Bucks quietly kept busy, bringing back Gary Trent Jr. on a two-year, $7.5 million deal and retaining Taurean Prince on a two-year, $7.1 million contract. With Damian Lillard out for most of next season, Trent’s shooting will be a key factor.

Over in Philadelphia, the Sixers got what many are calling a steal: “The Sixers just got a friggin’ steal in Trendon Watford”. NBA contributing writer Morten Stig Jensen wrote, following news of Watford’s two-year, $5.3 million signing.

With even more dominoes sure to fall, this NBA offseason seems to be just getting started.