How Miami acquired Giannis Antetokounmpo in a blockbuster deal
Prince Grimes details Giannis trade to Miami Heat
Most of the NBA’s leading players have already found new careers.
The NBA’s offseason and free agency cycle has brought about major changes in player movement and dynamics, but one notable exception remains.
LeBron James, the NBA’s all-time leading scorer and the greatest player of his generation, has yet to decide on his next move after informing the Los Angeles Lakers that he will become an unrestricted free agent and leave the franchise he spent eight seasons with.
James’ next team will spark a lot of intrigue, but now that the dust has settled after the first week of free agency, here are the early winners and losers of the NBA offseason.
winner
miami heat
The question I want to ask through this exercise is whether the team improved their candidate status. Essentially, are they closer to championship contention than they were a month ago?In the case of the Heat, the answer is definitely yes. When healthy, Giannis Antetokounmpo remains one of the five best basketball players in the world. Bobby Portis was another clever addition. Miami is once again an attractive destination. Although the roster still needs filling, the Heat have acquired LeBron James. Adding him would give Miami a strong threat in the East.
philadelphia 76ers
Getting Jaylen Brown on the cheap is a huge win. Joel Embiid is 32 years old and simply not available consistently, so adding another star in his prime (Brown, 29) immediately creates problems for Philadelphia. Brown should form a great duo with two-time All-Star Tyrese Maxey, Embiid and VJ Edgecomb. The Sixers currently have strong scoring threats all over the floor.
Not only that, but Dean Wade and Anfernee Simons were a solid pair of signings that provided shooting and space. If Philadelphia can keep Embiid mostly healthy, the 76ers could challenge the Knicks for the conference title in 2027. And if LeBron James signs, Philadelphia could be dominant next season.
toronto raptors
Credit to Toronto for understanding that their roster was good, but not great. Credit also goes to the franchise for understanding that Scottie Barnes is one of the young stars in the game and that they needed a leading scorer. Kawhi Leonard is just that type of scorer, but he’s still an elite defender who fits Toronto’s style perfectly. The Raptors tied for fifth in defensive rating (112.1) last season, and Leonard will likely highlight that effort.
Eastern Conference strengthens
Antetokounmpo and Brown remained in the conference, and Kawhi Leonard returned to Toronto after six seasons with the Clippers. LeBron James, who reportedly favors the Cavaliers, Heat and 76ers among his suitors, could return to the Eastern Conference, according to ESPN. The Knicks are the reigning champions and have kept their core largely intact. The 2025 Eastern Conference champion Pacers will likely have a healthy Tyrese Haliburton back.
The narrative for the past decade has been that the West is the superior conference. And while the West may have most of the league’s top five players, the East has more of them.
loser
boston celtics
The timing of the slur against Jaylen Brown is not so subtle. Has Brown, who had a stellar career with the Celtics and led the Celtics this season as Jayson Tatum regained his form, suddenly become a negative asset? I won’t buy it. The idea behind that story is that Brown has some inefficiencies in his offensive game, and his plus-minus indicates Boston was better with him off the floor. Brown was more of a high-volume option last season, but this struck me as an example of selective analysis being used to scale and create a narrative. If you watch Brown’s film, you clearly see a player who can score at three levels, who can score in the clutch, and who can impact wins. Paul George, at this stage of his career, can’t really touch on Brown’s influence.
Mitchell Robinson is an interesting addition, but he has been unavailable, appearing in only 108 of the 246 regular season games over the past three seasons. Returning to the question I posed at the beginning. No, the Celtics didn’t improve their status as a title contender. If anything, Boston feels far away.
Los Angeles Lakers
If the pitch for Luka Doncic was that this offseason would be a season to inject more talent into the Lakers’ roster, the results were, frankly, disappointing. Walker Kessler is a great center and a player who really provides some of what Los Angeles needs, but this felt like an overpay, both in terms of the draft capital needed to acquire him and the contract the Lakers gave him. Kessler is still young, turning 25 later this month, but can he provide the low-post offense Los Angeles needs? He is largely unproven in that regard.
Quentin Grimes provides solid depth, as does Collin Sexton, but James’ departure leaves a big void in organizational knowledge and playmaking ability. Despite injuries along the way, the Lakers remained competitive. The pressure is now on Doncic and Austin Reeves.
nba middle class
Becoming a max player has never been so great. Donovan Mitchell, a clear top-15 player, just signed a massive four-year contract worth up to $273 million. The contract is projected to be worth a whopping $70.7 million in its final year. His player option for 2030-31 is even higher, at about $75.5 million. Mitchell is not alone. This is the rate of maximum players who reach performance thresholds such as All-NBA selections.
But salary cap growth has been slow (the 2026-27 cap will only increase by 6.7%), which puts pressure on the NBA’s middle class. Essentially, local broadcasting revenues are sluggish and we are in a situation where raising the cap is lukewarm. And since star players are always at a premium, teams are becoming much more selective with their limited cap space.
mid-major team takes it back
I’m mainly focused on the Houston Rockets and Orlando Magic. Both were playoff teams, and both flamed out in the end. Houston will likely be counting on point guard Fred VanVleet (torn ACL) to stabilize the position. And while Houston’s biggest weakness was certainly its point guard, after a pretty awkward season in which Kevin Durant’s dissatisfaction with his younger teammates leaked out into the public eye, it was time to take some calculated risks in roster management. But the Rockets have remained silent, falling short of the Spurs, Thunder, Nuggets, and even the Timberwolves as currently constructed.
The Magic fired former coach Jamal Mosley and hired former Spurs assistant Sean Sweeney. A change in leadership will help, but Orlando’s lack of consistent shooting remains unresolved. There’s also no seemingly odd fit like stars Paolo Banchero or Franz Wagner. Sweeney needs to define his role more clearly. But while much of the East has improved, the Magic have remained stagnant.
The Golden State Warriors, who will miss Antetokounmpo and could miss LeBron James, should also probably be included here. Golden State now desperately needs Jimmy Butler to come back from a torn ACL and become an impact player again.
