The NBA trade deadline arrives in less than three weeks, and ten teams are preparing for potentially significant decisions that could reshape their rosters and playoff hopes. With the deadline set for February 5 at 3 p.m. ET, front offices across the league are actively evaluating which players to keep, which to trade, and whether to pursue a championship run or pivot toward rebuilding.
Teams face different pressures heading into the final stretch. Some are fighting to stay under the luxury tax threshold to avoid steep financial penalties. Others are searching for missing pieces to compete now. A few are quietly shedding veterans to improve their draft lottery odds. The decisions made in the next twenty days will ripple through the rest of the season and potentially reshape the NBA landscape.
Background
The trade deadline serves as the last major opportunity for teams to make significant roster changes before the playoff push begins. Unlike the offseason, when teams have months to evaluate the market, the deadline forces quick decisions with incomplete information. Teams must balance competing priorities: winning now, managing payroll, developing young talent, and positioning for long-term success.
This year's deadline comes at an unusual moment in the NBA season. Some teams have exceeded expectations and now face difficult choices about spending money to stay competitive. Others have underperformed and must decide whether to continue investing in their current roster or begin dismantling it for future assets. The salary cap structure, with its multiple thresholds and penalties, adds another layer of complexity to these decisions.
"Milwaukee still has a first-round pick they can trade, and they're $14 million under the luxury tax. I've seen teams make chicken salad with less," an Eastern Conference executive said about the Bucks' position.
The Milwaukee Bucks have emerged as one of the most active teams preparing for the deadline. League executives view the Bucks as willing and able to make a significant move. Bucks general manager Jon Horst has been in contact with teams across the league, searching for talent to pair with superstar Giannis Antetokounmpo. The team's financial flexibility and remaining draft assets give them room to maneuver in a way many other teams lack.
Key Details
The ten teams monitoring the deadline face distinct situations based on their standings, salary cap positions, and roster needs.
Teams with draft capital
Some teams have accumulated multiple draft picks that give them use in negotiations. The Brooklyn Nets have built up a significant stockpile with thirteen first-round picks, though only ten are tradeable. The Portland Trail Blazers hold eight first-round picks, including control of the Milwaukee Bucks' selections between 2028 and 2030. These teams can use draft assets to acquire established players or build around their young cores.
Other teams are severely limited in what they can offer. The Los Angeles Lakers have only one tradeable first-round pick and a single second-rounder, forcing them to get creative. The team is exploring ways to convert future first-round picks into multiple lesser selections to increase their trading flexibility. The Minnesota Timberwolves and New York Knicks both have zero tradeable first-round picks remaining, limiting their options to second-round selections and young players.
Salary cap constraints
Teams above the luxury tax line face steep penalties that can reach hundreds of millions of dollars. The Boston Celtics exceeded expectations but sit above the luxury tax threshold. They may prioritize trades that reduce payroll while maintaining roster strength. The Philadelphia 76ers sit above the luxury tax line and have limited flexibility to add salary without shedding players.
The Phoenix Suns are close enough to the luxury tax line that shedding even a minimum contract could push them under. The team might move forward Nick Richards, whom they acquired for two second-round picks last year, or release minimum-salary players who have fallen out of the rotation.
Some teams have more breathing room. The Brooklyn Nets sit $48.5 million under the luxury tax line, giving them substantial flexibility. The Portland Trail Blazers are nearly at the line with just $1.5 million of cushion remaining.
Notable players in the marketplace
Several established players are drawing interest from multiple teams. Ja Morant and Jonathan Kuminga have circulated as potential trade targets. Nick Richards, Kobe Brown, and Dalton Knecht represent younger players teams are evaluating. The Lakers are particularly interested in building around Dalton Knecht, their 2024 draft pick, though his limited track record makes him a risky centerpiece for a major trade.
The New York Knicks have discussed Giannis Antetokounmpo, but acquiring him would require parting with multiple starters. The Knicks sit just $148,000 below the second apron threshold, leaving almost no room for error in negotiations.
What This Means
The decisions made before February 5 will determine which teams compete for championships this spring and which begin planning for next season. Teams with flexibility, like the Milwaukee Bucks, can make aggressive moves to strengthen their rosters. Teams with limited assets, like the Lakers, must rely on creative deal structures and hope other teams value their young players.
The salary cap structure creates winners and losers in these negotiations. Teams with cap space can absorb salary from other teams in exchange for draft picks. Teams desperate to get under the luxury tax threshold may accept unfavorable trades just to reduce payroll. Teams in the middle, with modest financial flexibility and modest draft capital, face the toughest decisions.
For fans, the deadline represents the last moment when their teams can reshape themselves for a playoff run. For front offices, it represents a final test of their planning and negotiating skills before the season enters its most important phase.
