NBA free agency is well underway, and while most of the big names are now off the board, there are still several dominoes left to fall, with Damian Lillard, Chris Paul, Jonathan Kuminga, Quentin Grimes and more still undecided for next season. (Check out Yahoo Sports’ NBA free agent big board here.)
The action continued on Wednesday, as the Thunder reportedly signed standout center Chet Holmgren to a five-year max contract that could reach up to $250 million. That move came one day after the Spurs added depth behind Victor Wembanyama by trading with the Washington Wizards for center Kelly Olynyk. Nikola Jokić, meanwhile, reportedly declined to sign a contract extension with the Nuggets in his first year of eligibility. But there’s no reason to panic in Denver as the three-time MVP has roughly 80 million reasons to wait until next summer to ponder an extension.
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When free agency opened June 30, the NBA had officially set its salary cap at $154.647 million for the 2025-26 season. That’s up 10% from last season, which was the expected jump.
Jaren Jackson Jr. and the Grizzlies agreed on a five-year, $240 million max extension, and the Nuggets traded Michael Porter Jr. to the Nets in exchange for Cam Johnson. Dorian Finney-Smith agreed to a deal with the Rockets, Ty Jerome and the Grizzlies agreed on a three-year contract and the Mavericks struck a two-year deal with point guard D’Angelo Russell.
Elsewhere, LeBron James picked up his $52.6 million option for the 2025-26 season, stating his hopes of competing for a championship while the Lakers build for the future. James Harden will also stick in Los Angeles, signing a new deal with the Clippers. Julius Randle will also remain in Minnesota.
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All this comes after the Phoenix Suns traded superstar Kevin Durant to the Houston Rockets for Jalen Green, Dillon Brooks and the 10th pick (Khaman Maluach) in the 2025 NBA Draft. The Boston Celtics also began a refresh by trading Jrue Holiday to the Portland Trailblazers and Kristaps Porziņģis to the Atlanta Hawks.
Find all of this year’s free agency deals here.
Free-agent position rankings: Point guards | Shooting guards | Small Forwards | Power forwards | Centers
Follow along with Yahoo Sports for live updates, highlights and more as 2025-26 NBA free agency heats up:
