NBA Free Agency 2026: Every Major Deal, How It Works, and What's Still Unresolved
NBA free agency is the annual period when players with expired contracts can sign with any team.
The 2026 NBA free agency window is active, with blockbuster trades completed, major signings confirmed, and several situations still unresolved.
What Is NBA Free Agency?
Free agency is how most roster-building happens outside the draft. When a player's contract expires, he either re-enters the market or exercises an option to return. Teams then compete to sign him, within limits set by the collective bargaining agreement.
What's often overlooked is how much of "free agency" isn't truly free. The salary cap, luxury tax thresholds, and roster construction rules all constrain what teams can realistically offer.
In practice, most franchises enter the free agency window having already mapped out which exceptions they plan to use and which players they can realistically afford.
Unrestricted vs. Restricted Free Agents
An unrestricted free agent can sign with any team. No prior team has the right to match or retain him.
A restricted free agent is different. His current team retains the right to match any offer he signs elsewhere. If they match it, he stays. If they pass, he leaves. Restricted free agency tends to slow negotiations because the player's destination isn't fully his to decide.
What Is a Sign-and-Trade in NBA Free Agency?
A sign-and-trade is an arrangement where a player signs a new contract with his current team, which then immediately trades him to his preferred destination. Both teams get something.
The player gets a longer, larger deal than a direct free agent signing with a new team would allow. These deals require cap coordination from all parties and are not always structurally possible.
Key Dates: When Does NBA Free Agency Open and Close?
A moratorium period typically begins in late June. Players and teams can agree to deals verbally but cannot yet sign paperwork. Contracts become official a few days later.
The signing window stays open through the start of the regular season in October, though the vast majority of activity clusters in the first two to three weeks.
2026 NBA Free Agency: The Biggest Moves So Far
This has been one of the more active offseasons in recent memory. Superstars moved. Franchises shifted direction overnight.
The ripple effects across the NBA offseason deals landscape are still being absorbed.
Blockbuster Trades and Superstar Signings
As reported by The Washington Post, LeBron James is leaving the Los Angeles Lakers for the Philadelphia 76ers on a two-year deal at the veteran minimum. The Sixers also acquired Jaylen Brown via trade from the Celtics, with Paul George heading to Boston in return.
Two major roster overhauls, tied together in one sequence. Giannis Antetokounmpo was traded from Milwaukee to the Miami Heat in a deal that sent Tyler Herro, Jaime Jaquez Jr., Kel'el Ware, and Kasparas Jakucionis to the Bucks.
Ja Morant was traded from Memphis to the Portland Trail Blazers in exchange for Jerami Grant and Kris Murray.
The Celtics added Mitchell Robinson on a three-year deal and brought in Mike Conley on a one-year contract to stabilize depth after the Brown departure.
Notable Mid-Tier NBA Free Agency Signings
Walker Kessler moved from Utah to the Lakers via sign-and-trade on a four-year deal. Klay Thompson signed a two-year deal with Miami. Marcus Smart agreed to a two-year deal with the Houston Rockets. Norman Powell signed a two-year deal with the Chicago Bulls.
Quentin Grimes, Collin Sexton, and Sandro Mamukelashvili all landed with the Lakers as Los Angeles rebuilt quickly around a new roster identity.
Key Re-Signings Confirmed
Victor Wembanyama signed a five-year extension with the San Antonio Spurs. Donovan Mitchell locked in a four-year extension with Cleveland.
Austin Reaves re-signed with the Lakers on a four-year deal. James Harden agreed to a three-year deal to stay in Cleveland.
2026 NBA Free Agency: Summary of Major Moves
|
Player |
From |
To |
Deal |
Status |
|
LeBron James |
Lakers |
76ers |
2 years |
Official |
|
Giannis Antetokounmpo |
Bucks |
Heat (trade) |
Trade |
Official |
|
Jaylen Brown |
Celtics |
76ers (trade) |
Trade |
Official |
|
Paul George |
76ers |
Celtics (trade) |
Trade |
Official |
|
Ja Morant |
Grizzlies |
Trail Blazers (trade) |
Trade |
Official |
|
Walker Kessler |
Jazz |
Lakers (sign-and-trade) |
4 years |
Official |
|
Klay Thompson |
Mavericks |
Heat |
2 years |
Official |
|
Marcus Smart |
Lakers |
Rockets |
2 years |
Official |
|
Norman Powell |
Heat |
Bulls |
2 years |
Official |
|
Victor Wembanyama |
Spurs |
Spurs (extension) |
5 years |
Official |
|
Donovan Mitchell |
Cavaliers |
Cavaliers (extension) |
4 years |
Official |
|
James Harden |
Cavaliers |
Cavaliers (re-sign) |
3 years |
Official |
|
Mitchell Robinson |
Knicks |
Celtics |
3 years |
Official |
|
Kawhi Leonard |
Clippers |
Raptors (trade) |
Trade |
On Hold |
Which Players Are Still Available?
Most headline NBA free agent tracker activity has settled, but the market is not fully closed.
Notable Situations Still Unresolved
The Kawhi Leonard trade to the Toronto Raptors is officially on hold. The NBA launched an investigation into an undisclosed sponsorship arrangement between Leonard and the Clippers organization.
Until that inquiry concludes, the trade cannot be finalized. The Clippers have already received penalties for related violations.
Peyton Watson's restricted free agency drew significant attention through the summer. He eventually agreed to a four-year deal with the Cleveland Cavaliers via a five-team sign-and-trade involving Denver.
His case is a clear example of how restricted free agency can stretch well into late summer when multiple teams and cap constraints are involved.
Several role players and depth pieces remain unsigned as teams work within remaining roster limits and available cap exceptions.
How the Salary Cap Shapes NBA Free Agency Decisions
According to Wikipedia, the NBA salary cap is set annually based on projected league revenues, calculated as a percentage of basketball-related income under the terms of the collective bargaining agreement.
For 2026-27, the cap climbed roughly 6.7 percent over the prior year to approximately $164.96 million. That figure determines how much teams can spend, with the luxury tax threshold sitting above it as a financial penalty for the biggest spenders.
In practice, most front offices treat the cap not as a ceiling to reach but as a puzzle to solve. Teams commonly find that the real decisions happen months before free agency opens, when rosters are modeled, expiring contracts are evaluated, and exception usage is planned.
By the time players hit the open market, most serious teams already know what they can and cannot offer.
Why Teams Use Sign-and-Trades
A player leaving via free agency can typically sign for a maximum of four years with a new team. A sign-and-trade allows him to sign a five-year deal. That one additional year of security often determines a player's destination.
Teams sending a player out receive assets rather than losing him for nothing. Teams on the receiving end absorb salary but land the player they targeted.
How Cap Space Limits Signings
Teams over the cap cannot simply sign free agents outright. They rely on exceptions built into the collective bargaining agreement. The mid-level exception allows teams over the cap to sign a player at a defined dollar amount even without available cap room.
Most mid-tier free agent deals get done through these mechanisms rather than pure open-market spending.
What the 2026 Offseason Means for Each Conference
Eastern Conference: Key Roster Shifts
The Philadelphia 76ers are the most transformed team in the East. Adding LeBron James and Jaylen Brown in the same offseason positions them as an immediate contender. Boston retains championship-caliber depth with Paul George and Mitchell Robinson added.
Miami's acquisition of Giannis reshapes the Southeast Division. Cleveland stayed competitive by locking up Mitchell and Harden.
The New York Knicks, as defending champions, largely retained their core. Andre Drummond was added for frontcourt depth, and Jose Alvarado, Jordan Clarkson, and Landry Shamet were all re-signed.
Western Conference: Key Roster Shifts
Oklahoma City stayed committed to its young core. The Thunder re-signed Isaiah Hartenstein and allowed veteran pieces to depart, trading Luguentz Dort to Atlanta.
Golden State retained Draymond Green, Kristaps Porzingis, and De'Anthony Melton while adding Georges Niang on a one-year deal.
The Lakers overhauled their roster almost entirely following LeBron's departure. Walker Kessler, Quentin Grimes, Collin Sexton, Sandro Mamukelashvili, and Matisse Thybulle all arrived.
Portland made the biggest splash in the West by landing Ja Morant, with Jeremy Sochan added via free agency for forward depth.
Conclusion
The 2026 NBA free agency period has delivered significant movement, with LeBron James, Giannis Antetokounmpo, and Ja Morant all changing teams.
The Kawhi Leonard trade remains unresolved. Depth signings continue as training camp approaches.
Frequently Asked Questions About NBA Free Agency
When does NBA free agency start?
NBA free agency typically begins in late June, shortly after the NBA Finals. Teams and players agree to deals verbally during a moratorium period before contracts are officially signed a few days later.
What is the difference between an unrestricted and restricted free agent?
An unrestricted free agent can sign with any team without restriction. A restricted free agent's prior team can match any outside offer and retain him, which limits his ability to freely choose a new destination.
Can a team go over the salary cap to re-sign its own players?
Yes. Teams can use Bird rights to re-sign their own players even when over the cap. This is why franchises frequently retain stars who might otherwise be unaffordable under standard cap rules.
What is a sign-and-trade?
A sign-and-trade is when a player signs a contract with his current team, which then trades him to another team. It allows the player to earn more contract years than a standard free agent signing with a new team would permit.
Where can I track NBA free agency deals in real time?
NBA.com maintains an official free agent tracker updated throughout the offseason. ESPN and HoopsHype also publish regularly updated deal logs and news feeds covering signings, trades, and rumors.