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Bontemps/Windhorst’s Latest: Cap Room, Nets, Wolves FAs, Connelly

March 29th 2025 at 12:19pm CST by Luke Adams

Given the lack of cap room available around the NBA this season, it’s not a great time to be entering the market as a restricted free agents, Brian Windhorst of ESPN writes in an Insider-only story.

“There’s only one team that has a lot of cap space and they may want to do a slower rebuild and aren’t looking to spend it all now,” a veteran agent told ESPN. “I’ve never seen a free agency where only one team has real cap space in my career. These free agents are f—ed.”

That “one team that has a lot of cap space” is Brooklyn — the Nets are expected to operate with between $45-60MM in room, according to Windhorst, and could open up additional space beyond that if they let certain players go. However, there’s an expectation around the league that the Nets won’t necessarily be looking to make win-now moves in free agency this summer.

“They’ve sent the message that if they do anything major with their space, it’s likely going to be through trade, not signings,” one rival executive told Windhorst. “Even if that trade doesn’t happen this summer, they’ll want to keep their options open.”

Nets general manager Sean Marks has shown in the past that he’s willing to pursue restricted free agents and give them aggressive offer sheets. During the team’s initial rebuild, Marks and his front office took that route with Allen Crabbe, Tyler Johnson, Donatas Motiejunas, and Otto Porter Jr. in a span of two years (2016-17). But there’s no indication at this point that Brooklyn plans to pursue an RFA such as Jonathan Kuminga, Josh Giddey, Quentin Grimes, or Santi Aldama in the same way, which means those players may have limited leverage.

“Actually it’s no leverage,” another agent told ESPN. “I’ve prepared my clients for a free agent recession this summer. Next year will be different, the cap will be going up and teams will clean up their books as they deal with the new spending rules. So you may have to wait and try again.”

Here’s more from Windhorst and his ESPN colleague Tim Bontemps:

  • Examining the Timberwolves‘ upcoming free agent decisions, Bontemps says multiple scouts and executives believe that guard Nickeil Alexander-Walker could command a deal in the range of the full mid-level exception, since he has been a reliable three-and-D role players and is entering his prime years. As our projections show, a full four-year mid-level contract in 2025/26 is expected to be worth in excess of $60MM.
  • Sources around the NBA believes that both Julius Randle and Naz Reid will return to the Timberwolves next season, according to Bontemps. Both power forwards hold player options for 2025/26, with Randle’s worth $29.5MM (plus incentives) and Reid’s worth $15MM. Even if both players remain in Minnesota, it’s unclear what form that would take — opting out to sign a new deal would be one path, as would opting in, with or without a new extension.
  • The Timberwolves have another important free agent in their front office, having pushed back Tim Connelly‘s opt-out clause from 2024 to 2025. Team sources tell Windhorst that prospective owner Marc Lore has “made it a priority” to sign the president of basketball operations to an extension if and when he and Alex Rodriguez gain full control of the franchise.
  • In case you missed it, we also passed along reporting from Windhorst and Bontemps on the Pacers and starting center Myles Turner. That story can be found here.
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