In what has been a whirlwind summer for the NBA, multiple high-profile trades and contract extensions have reshaped the league’s landscape, leaving few teams untouched by the turbulence. The Los Angeles Lakers, in particular, have found themselves on the less fortunate side of the offseason frenzy, missing out on nearly all their key summer targets.
The Lakers' Financial Conundrum
LeBron James' Lakers, facing severe financial limitations, are currently past the second apron with a payroll set at $188.9 million. This cap situation complicates their ambitions of adding a third star to complement their current roster. To bring in DeMar DeRozan via a sign-and-trade, the Lakers would need to dip below the first apron of $178.1 million—an achievement that seems increasingly elusive.
In a surprising turn, LeBron has reportedly shown a willingness to make a significant financial sacrifice to assist the team's cause. "LeBron reportedly stated he would consider a significant pay cut of around $20 million if it meant securing that elusive third star," according to sources close to the situation.
Shift in Star Players
Other teams across the NBA have not hesitated to pull the trigger on major deals. Paul George's shift to the Philadelphia 76ers and Klay Thompson’s move to the Dallas Mavericks have been headline-grabbing moves. The 76ers also reached a staggering $204 million extension with stars Joel Embiid and Tyrese Maxey while adding Eric Gordon and Andre Drummond to their ranks. Kelly Oubre was re-signed, further bolstering the team's depth.
The Mavericks, having traded Tim Hardaway Jr. and Josh Green to Golden State, secured the services of Klay Thompson, who agreed to a three-year, $50 million contract with Dallas.
Major Trades and Signings
In New York, the Knicks orchestrated a massive trade by dealing five first-round picks and a swap to acquire Mikal Bridges. They also traded for Tyler Kolek in the second round, demonstrating their willingness to invest in talent aggressively.
The Oklahoma City Thunder have not been idle either. Isaiah Hartenstein switched to Oklahoma City on an $87 million deal over three years, while Josh Giddey was swapped for the Chicago Bulls' Alex Caruso. The Golden State Warriors, looking to reinforce their squad, secured De'Anthony Melton and Kyle Anderson. There are even whispers of Buddy Hield potentially joining the Warriors.
Elsewhere, the Cleveland Cavaliers extended Donovan Mitchell’s contract with a three-year, $150.3 million agreement, and the New Orleans Pelicans made headlines by acquiring Dejounte Murray from the Atlanta Hawks in exchange for Larry Nance Jr., Dyson Daniels, and two future first-round picks in 2025 and 2027.
Brooklyn Nets and San Antonio Spurs on the Move
The Brooklyn Nets, in particular, have been extraordinarily active. By trading Kevin Durant, they amassed nine first-round picks and regained control of their own 2025 and 2026 picks, setting themselves up for what could be a promising rebuild.
The San Antonio Spurs made strategic moves too, signing veteran guard Chris Paul for a one-year tenure worth $11 million. In the draft, they selected Stephon Castle with the No. 4 pick and traded Rob Dillingham to Minnesota for long-term drafting assets.
Noteworthy Extensions
A few individual players managed to secure lucrative extensions during this period as well. Cade Cunningham locked in a max extension worth $226 million over five years with the Detroit Pistons, and Scottie Barnes secured an even larger contract, potentially worth $270 million, with the Toronto Raptors. Additionally, Toronto's Immanuel Quickley signed a five-year, $175 million contract.
The Orlando Magic also made headlines, extending Jonathan Isaac with an $84 million renegotiation over five years and signing Kentavious Caldwell-Pope to a three-year, $66 million deal.
This summer’s transactions have left few teams the same, as franchises across the league reposition themselves with the hopes of achieving championship glory. With training camp on the horizon, the 2023-24 NBA season promises to be nothing short of thrilling.