The NBA’s free agency frenzy has somewhat subsided, and now that the dust has settled we can evaluate the landscape of the league.
Teams, in some cases out of nowhere, have catapulted themselves into title contention with savvy moves and headline pick-ups. Others have lost out big time. Some due to inactivity, some due to making bad moves.
Here, we look at the biggest winners and losers from the start of 2025 NBA free agency.
Winners
Atlanta Hawks
Grade: A+
Biggest move: Trading for an unprotected 2026 First Round Pick
The Atlanta Hawks have had the best offseason of any NBA team hands down. Very rarely do the Hawks get to be the talk of the town in the NBA, but their new front office have made them exactly that.
It started before the draft, where they traded for Dejounte Murray and Kristaps Porzingis. That was a statement of intent.
But they really sent shockwaves after the Hawks traded with the New Orleans Pelicans on draft day, fleecing them for a 2026 unprotected first-round pick and giving them next to nothing.
Post-draft, their good work continued. They signed Nickeil Alexander-Walker, an excellent defensive wing from the Minnesota Timberwolves, and sharpshooter Luke Kennard.
If they wish, the Hawks can try to trade for Giannis Antetokounmpo. Or they could just not, and roll into the season as one of the better teams in the conference led by All-Star Trae Young.
Houston Rockets
Grade: A
Biggest move: Trading for Kevin Durant
One blockbuster trade turned the Houston Rockets into a good team with a solid future, into maybe the favourites for the 2025-26 NBA title. That’s what adding a guy like Kevin Durant can do.
They didn’t have to give up too much to get the 2014 NBA MVP. Jalen Green, who underperformed in the Rockets’ first round exit of the playoffs was the biggest name to leave, but he would always have been included in any sizeable trade.
The rest was Dillon Brooks, a solid role player, the No. 10 pick in the 2025 draft and five second-round picks. That’s not selling your soul. They left more than enough pieces around Durant to contend.
And in getting Durant, they kept hold of their best player from last season in Turkish star Alperen Şengün, whose pass-first style complements Durant’s game to perfection. And they kept elite young defender Amen Thompson.
Watch out for the Rockets in 2026.
Denver Nuggets
Grade: A-
Biggest move: Trading away Michael Porter Jr.
While the Denver Nuggets, who took the title-winning Oklahoma City Thunder to seven games in the second round of the playoffs, didn’t need a total overhaul, they did need to make some serious changes to their roster in order to compete for another championship.
Their biggest issue was depth and experience, and they also needed to be mindful of various salary issues on the roster. Shedding money was key.
They did that by trading away Michael Porter Jr, who was making nearly $80 million over the next two seasons. Porter Jr simply wasn’t worth that money and has not fulfilled the potential he showed years ago.
They traded him and a first round pick for Cam Johnson, coming off a really nice season with the Brooklyn Nets.
The Nuggets also added Bruce Brown and Tim Hardaway Jr. on veteran minimum deals, and they’re now looking at a more balanced roster for three-time MVP Nikola Jokic to lead.
Losers
Indiana Pacers
Grade: F
Biggest move: Allowing Myles Turner to leave in free agency
Indy?! What are you doing? It was all looking so good for the Indiana Pacers going into game seven of the NBA Finals. They had a young superstar in Tyrese Haliburton, a balanced and complete roster, and were one game away from the title.
Now, they lost game seven, Haliburton tore his Achilles, and their complete roster has a hole in the middle after they let long-term Pacer Myles Turner walk to their rivals in the Milwaukee Bucks (we’ll get to them later).
NBA insiders put Turner’s departure down to the Pacers simply being cheap. The Pacers tried to play hardball with him and refused to pay $20 million per year, and off Turner went. Inexcusable. They get an F.
Milwaukee Bucks
Grade: D-
Biggest move: Signing Myles Turner
The old lose-lose signing. The Pacers got worse, and all-in-all the Bucks probably didn’t get much better. The Turner signing in itself wasn’t a bad one.
He’s a nice player who complements their two-time MVP Giannis Antetokounmpo. But it was symptomatic of the feeling that has ruled the Bucks’ offseason. Desperation.
The Bucks have been selling their future for years in order to keep Antetokounmpo happy, but this offseason they have managed to both sell their future and upset Antetokounmpo. Impressive.
Antetokounmpo was unhappy with the Bucks, in the way they went about waiving the injured Damian Lillard. Then they let a player he was clearly fond of, in Brook Lopez, sign with the Clippers, leading to some cryptic social media posts from the Bucks’ star.
The Turner deal seems like it was done purely to appease Antetokounmpo in the hopes it will convince him to stay. Maybe it will work, maybe it won’t, but if Antetokounmpo leaves the Bucks, they will have nothing left.
LA Lakers
Grade: F-
Biggest move: Signing Deandre Ayton
Going into the offseason the Los Angeles Lakers’ mission was simple. Pick up a center, re-sign your players, and try to make the most of what is left of LeBron James to try to win the title.
Instead, they let most of the centers pass them by, let Dorian Finney-Smith leave, and now James might want to be traded. Not ideal for the NBA’s most successful franchise.
It doesn’t seem like the Lakers are overly concerned. They have stated that their focus is on the 2027 offseason, and building around Luka Doncic. James is seemingly not in their plans. But NBA titles are hard to win, and very rarely can you claim to have two NBA legends on your team.
The Lakers have a self-inflicted soap opera on their hands with the impending LeBron James saga, even though their path forward was so simple. For that, they lose the offseason so far.