Hoops Rumors Originals

At Hoops Rumors, we track virtually every kind of transaction, including free agent signings, trades, contract extensions, and many more. One form of roster move that has become increasingly common in recent years is the two-way conversion, involving a player either being converted from an Exhibit 10 contract to a two-way deal or from a two-way deal to his team’s standard roster.

We’re going to use the space below to track all of the two-way conversions (either to or from the standard roster) completed in 2025/26.

Exhibit 10 contracts to two-way contracts:

When a player signs a contract during the offseason that includes Exhibit 10 language, he gives his new team the ability to unilaterally convert his deal into a two-way contract. The deadline to convert such a deal is the day before the season begins — this year that was Monday, October 20.

A player who signs a training camp contract that doesn’t include Exhibit 10 language could still sign a two-way deal with his club as long as his camp contract doesn’t include a guarantee exceeding $85,300. However, he’d have to clear waivers before inking that new two-way contract.

Here are the players who had their Exhibit 10 contracts converted into two-way deals in 2025/26:

• Colin Castleton (Magic) (story)
• Moussa Cisse (Mavericks) (story)
• Ron Harper Jr. (Celtics) (story)
• Caleb Houstan (Hawks) (story)
• Johnny Juzang (Timberwolves) (story)
• Jahmyl Telfort (Clippers) (story)
• Jahmir Young (Heat) (story)
• Chris Youngblood (Thunder) (story)

These players were invited to training camp on Exhibit 10 contracts and ultimately earned two-way slots based on their performances in camp and the preseason. Some were battling with other camp invitees for an open two-way spot, while others won a spot that wasn’t technically available, forcing their respective teams to waive players who had previously been signed to two-way contracts.

With the exception of Harper, who was promoted to the standard roster on October 16, all of these players were converted from two-ways to standard deals on Oct. 18, which was the date most teams set their rosters for the regular season.

No additional names will be added to this list for the rest of the 2025/26 season, since players can’t be converted to two-way deals after the regular season begins.

Two-way contracts to standard contracts:

A player who is on a two-way contract can have his deal unilaterally converted a one-year, minimum-salary contract by his team (or a two-year, minimum-salary contract if the player’s two-way deal covers two years, though this is rare).

Generally though, the team’s preference is to negotiate a longer-term contract with the player in order to avoid having him reach free agency at season’s end.

When converting a player from a two-way contract to the standard roster, the team can use cap room or the non-taxpayer mid-level exception to negotiate a deal of up to four years; the room exception for a deal up to three years; or the taxpayer mid-level exception, bi-annual exception, or minimum salary exception for a two-year deal.

For any contract that is worth more than the minimum or exceeds the number of years left on the player’s two-way pact, the player must agree to the terms — a team can’t complete that sort of deal unilaterally.

Here are the players who have been converted from two-way deals to standard contracts so far in 2025/26, along with the terms of their new contracts, in chronological order:

• Keaton Wallace (Hawks): One year, minimum salary (story). Partially guaranteed ($318,217). Signed using minimum salary exception.

Players on two-way contracts can be converted to standard deals until the last day of the regular season, so this list will continue to grow until April 12.

When a free agent signs a standard contract with an NBA team, he becomes ineligible to be traded for at least three months. Since this season’s trade deadline will land on February 5, that means a player who signs a new deal with a team anytime after Wednesday, November 5 won’t be eligible to be dealt this season.

That three-month trade restriction also applies to a player who is converted from a two-way contract to a standard deal. So if a player signs as a free agent or is promoted from a two-way deal to a standard roster spot this Thursday, his trade restriction wouldn’t lift until February 6, a day after this season’s deadline has passed.

If no new deals are completed by midnight Eastern on Wednesday, the last signee who will have trade eligibility later this season will likely be Precious Achiuwa, who is expected to sign with the Kings today or tomorrow. If Achiuwa officially signs on Tuesday and is still under contract with Sacramento three months from now, he’d become trade-eligible on February 4, the day before the deadline.

Pacers guard Mac McClung (January 28), Pelicans center DeAndre Jordan (January 23), Hawks guard Keaton Wallace (January 18), and Kings guard Russell Westbrook (January 16) are a few of the other players who would become eligible to be moved in the weeks leading up to the Feb. 5 deadline, assuming they remain under contract until then.

The three-month trade restriction doesn’t apply to players who sign two-way contracts — those players are ineligible to be dealt for just 30 days. Trades involving players on two-way deals are pretty rare, but it’s worth noting that anyone who inks a two-way contract on or before January 6 would still become trade-eligible ahead of this season’s deadline.

We previously shared lists of players who won’t become trade-eligible until December 15 or January 15 after signing new contracts in the offseason. We’ll soon publish one more list detailing which players have special, specific trade eligibility dates — that group will include Achiuwa, McClung, and the rest of the players mentioned above, plus many more, including several who signed offseason contract extensions.

Decisions on rookie scale options for the 2026/27 season were due on Friday — any team that wanted to exercise a third- or fourth-year option on a player for next season was required to do so by October 31.

As is typically the case, a huge majority of those options were picked up. Even for top picks, who are paid higher salaries due to the NBA’s rookie scale, those third- and fourth-year options are relatively team-friendly. So unless a player has fallen well short of his team’s expectations, it generally makes sense to lock in his salary for the following season at this point.

However, not every player with a 2026/27 team option had it exercised by Friday’s deadline. A player who had his option declined will now be on track to reach unrestricted free agency during the summer of 2026, assuming he’s not waived before then. At the end of the season, his team won’t be able to offer him a starting salary that exceeds the value of his declined option.

Listed below are the players who had their options turned down, followed by the players whose options were exercised. If a player had his option picked up, his ’26/27 salary is now guaranteed and he won’t be eligible for free agency until at least 2027.

Declined options:

• Jett Howard, Magic (fourth year, $7,337,938)
• Kobe Bufkin, Nets (fourth year, $6,904,203)
  • Note: Bufkin’s fourth-year option was declined when he was waived by Brooklyn.
• Dariq Whitehead, Nets (fourth year, $5,366,911)
  • Note: Whitehead’s fourth-year option was declined when he was cut by Brooklyn.
• Olivier-Maxence Prosper, Mavericks (fourth year, $5,259,383)
  • Note: Prosper’s fourth-year option was declined when he was waived by Dallas, which used the stretch provision to spread his $3MM cap hit over three seasons.
• Nick Smith Jr., Hornets (fourth year, $4,890,067)
  • Note: Smith’s fourth-year option was declined when he was released by Charlotte.
• Kobe Brown, Clippers (fourth year, $4,792,058)
• Dillon Jones, Wizards (third year, $2,884,440)
  • Note: Jones’ third-year option was declined when he was cut by Washington.

Jones was the only 2024 first-round pick (he was selected 26th overall) who did not have his third-year option picked up. In addition to the six 2023 first-rounders listed above, Jalen Hood-Schifino also had his third- and fourth-year options declined by the Lakers last year. He was subsequently traded to — and released by — the Jazz, and is now on a two-way contract with Philadelphia.

Howard (No. 11 overall in 2023) was the lone former lottery pick whose option was turned down this fall. The 22-year-old wing has yet to carve out a rotation role with Orlando, the team that selected him, and the Magic project to be a tax apron team next season even without Howard’s $7,337,938 salary on their books.

Aside from Howard, Brown is the only other player who remains with the team that declined his option. Similar to Howard, the 25-year-old forward has rarely played for the Clippers over the past two-plus seasons.

None of the declined options were too surprising this year, as the seven players have not been significant NBA contributors to this point in their careers.

The Nets’ decisions to waive Bufkin and Whitehead were motivated by a roster crunch and a desire to stay above the minimum salary floor entering the season — not reaching the floor would have caused Brooklyn to lose its luxury tax distribution, which is projected to be around $12.8MM.

The Mavs, Hornets and Wizards were all facing roster crunches as well. While Charlotte and Washington had plenty of financial wiggle room to eat guaranteed salaries, Dallas needed to use the stretch provision on Prosper to create enough room below its second-apron cap to finalize a veteran’s minimum deal with Dante Exum, who has yet to play this season due to a knee injury.

Prosper and Smith are now on two-way deals with the Grizzlies and Lakers, respectively, after having their fourth-year options declined. Bufkin, Whitehead and Jones are all unrestricted free agents.

Exercised options:

Fourth year:

Note: These players will become eligible for rookie scale extensions in July of 2026. If they’re not extended, they’ll be on track for restricted free agency in 2027.

• Victor Wembanyama, Spurs ($16,868,246)
• Brandon Miller, Hornets ($15,104,626)
• Scoot Henderson, Trail Blazers ($13,585,523)
• Amen Thompson, Rockets ($12,258,609)
• Ausar Thompson, Pistons ($11,117,925)
• Anthony Black, Magic ($10,106,315)
• Bilal Coulibaly, Wizards ($9,240,012)
• Jarace Walker, Pacers ($8,478,541)
  
• Taylor Hendricks, Jazz ($7,805,900)
• Cason Wallace, Thunder ($7,420,806)
  
• Dereck Lively II, Mavericks ($7,239,130)
• Gradey Dick, Raptors ($7,131,510)
• Jordan Hawkins, Pelicans ($7,021,895)
• Keyonte George, Jazz ($6,563,925)
• Jaime Jaquez Jr., Heat ($5,939,141)
  
• Brandin Podziemski, Warriors ($5,679,458)
• Cam Whitmore, Wizards ($5,458,310)
• Noah Clowney, Nets ($5,414,034)
• Kris Murray, Trail Blazers ($5,315,004)
  
• Marcus Sasser, Pistons ($5,198,983)
  
• Ben Sheppard, Pacers ($5,031,668)
• Brice Sensabaugh, Jazz ($4,862,237)
  
• Julian Strawther, Nuggets ($4,826,931)

These 23 players who had their fourth-year options exercised, along with the seven listed in the section above who had their fourth-year options declined, were drafted in the first round in 2023.

Third year:

Note: Teams will have to make fourth-year option decisions for 2026/27 on these players by November 2, 2026.

• Zaccharie Risacher, Hawks ($13,826,040)
• Alex Sarr, Wizards ($12,370,680)
• Reed Sheppard, Rockets ($11,108,880)
• Stephon Castle, Spurs ($10,015,920)
  
• Ron Holland, Pistons ($9,069,600)
• Tidjane Salaun, Hornets ($8,237,880)
• Donovan Clingan, Trail Blazers ($7,519,920)
  
• Rob Dillingham, Timberwolves ($6,889,320)
  
• Zach Edey, Grizzlies ($6,332,760)
  
• Cody Williams, Jazz ($6,015,600)
  
• Matas Buzelis, Bulls ($5,715,360)
• Nikola Topic, Thunder ($5,429,760)
  
• Devin Carter, Kings ($5,158,080)
  
• Bub Carrington, Wizards ($4,900,560)
  
• Kel’el Ware, Heat ($4,654,920)
  
• Jared McCain, Sixers ($4,422,600)
  
• Dalton Knecht, Lakers ($4,201,080)
  
• Tristan Da Silva, Magic ($3,991,200)
• Ja’Kobe Walter, Raptors ($3,811,800)
  
• Jaylon Tyson, Cavaliers ($3,658,560)
• Yves Missi, Pelicans ($3,512,760)
  
• DaRon Holmes, Nuggets ($3,372,120)
• AJ Johnson, Wizards ($3,237,120)
• Kyshawn George, Wizards ($3,108,000)
  
• Pacome Dadiet, Knicks ($2,983,680)
  
• Terrence Shannon Jr., Timberwolves ($2,801,640)
  
• Ryan Dunn, Suns ($2,784,240)
  
• Isaiah Collier, Jazz ($2,763,960)
  
• Baylor Scheierman, Celtics ($2,744,040)

As usual, nearly every player from the 2024 draft class had his third-year option picked up, with 29 of 30 exercised. As noted above, Jones is the only player from 2024’s first round who is now a free agent.

For a team-by-team breakdown of this year’s rookie scale option decisions for the 2026/27 season, along with full stories on each decision, you can check out our tracker.

The NBA’s transaction wire hasn’t been as busy in the past week as it was leading up to to the regular season, but we can still expect one last flurry of moves in October. The deadline for teams to exercise their 2026/27 team options on rookie scale contracts arrives on Friday (October 31), and several of those decisions have yet to be reported or announced.

Unlike player or team options on veteran contracts, third- and fourth-year options on rookie scale contracts for former first-round picks must be exercised a year in advance. For instance, when the Spurs picked up Victor Wembanyama‘s fourth-year option earlier this month, they were locking in his salary for the 2026/27 season — his ’25/26 salary became guaranteed last October when the team exercised his third-year option.

As our tracker shows, 30 options have been picked up so far, but a number of teams still have decisions to make on players who were first-round picks in 2023 and 2024. Some of those remaining option decisions are no-brainers — the Sixers haven’t yet exercised Jared McCain‘s $4,422,600 option for 2026/27, for instance, but there’s no doubt they’ll do so.

Other decisions are less cut-and-dried. For example, the Knicks must decide whether they want to pick up Pacome Dadiet‘s $2,983,680 fourth-year option for ’26/27. Given New York’s position relative to the tax aprons and the fact that Dadiet has yet to show much at the NBA level, there’s no guarantee the Knicks will lock in that cap hit.

Here’s the list of the 24 option decisions that have yet to be officially finalized:

Atlanta Hawks

• Zaccharie Risacher (third year, $13,826,040)

Boston Celtics

• Baylor Scheierman (third year, $2,744,040)

Charlotte Hornets

• Brandon Miller (fourth year, $15,104,626)
• Tidjane Salaun (third year, $8,237,880)

Golden State Warriors

• Brandin Podziemski (fourth year, $5,679,458)

Houston Rockets

• Amen Thompson (fourth year, $12,258,609)
• Reed Sheppard (third year, $11,108,880)

Los Angeles Clippers

• Kobe Brown (fourth year, $4,792,058)

New York Knicks

• Pacome Dadiet (third year, $2,983,680)

Orlando Magic

• Anthony Black (fourth year, $10,106,315)
• Jett Howard (fourth year, $7,337,938)
• Tristan Da Silva (third year, $3,991,200)

Philadelphia 76ers

• Jared McCain (third year, $4,422,600)

Utah Jazz

• Taylor Hendricks (fourth year, $7,805,900)
• Keyonte George (fourth year, $6,563,925)
• Cody Williams (third year, $6,015,600)
• Brice Sensabaugh (fourth year, $4,862,237)
• Isaiah Collier (third year, $2,763,960)

Washington Wizards

• Alex Sarr (third year, $12,370,680)
• Bilal Coulibaly (fourth year, $9,240,012)
• Cam Whitmore (fourth year, $5,458,310)
• Bub Carrington (third year, $4,900,560)
• AJ Johnson (third year, $3,237,120)
• Kyshawn George (third year, $3,108,000)

With the 2025/26 NBA season underway, our calendar of important 2025 preseason dates and deadlines can be retired in favor of a list of the key in-season dates for the ’25/26 campaign.

Here’s a breakdown of the deadlines and events that will influence player movement for the next several months across the NBA:

October 25

• NBA G League draft.

October 27

• NBA G League training camps open.

October 31

• Deadline for teams to exercise rookie scale options for 2026/27.
• Emirates NBA Cup (in-season tournament) begins.

November 7

• NBA G League Tip-Off Tournament begins.

November 28

• Emirates NBA Cup group play concludes.

December 1

• Priority order for waiver claims is now based on 2025/26 record, rather than 2024/25 record. Teams with the worst records receive the highest waiver priority.

December 9-10

• Emirates NBA Cup quarterfinals.

December 13

• Emirates NBA Cup semifinals.

December 15

• Most offseason signees become eligible for inclusion in trades.

December 16

• Emirates NBA Cup final.

December 19-22

• NBA G League Winter Showcase and Tip-Off Tournament championship.

December 27

• NBA G League regular season begins.

January 5

• First day teams can sign players to 10-day contracts.

January 7

• Last day to waive non-guaranteed NBA contracts (including two-way contracts) before they become guaranteed for the rest of the season. Salaries officially guarantee on January 10 if players haven’t cleared waivers before that date.

January 15

• Most other offseason signees become eligible for inclusion in trades.
• Last day to apply for a disabled player exception.

February 1

• Former first-round picks who were stashed overseas may sign rookie scale NBA contracts for the 2026/27 season.

February 5

• Trade deadline (2:00 pm CT).

February 6

• The value of teams’ unused mid-level exceptions and bi-annual exceptions begins to prorate downward by 1/174th per day.

February 13-15

• All-Star weekend in Los Angeles (Intuit Dome).

February 28

• Last day for contract renegotiations.

March 1

• Last day a player can be waived by one team and remain eligible to appear in the postseason for another team.
• Last day for a restricted free agent to sign an offer sheet.

March 4

• Last day for a team to sign a player to a two-way contract.

March 10

• Last day for a team to use a disabled player exception.

March 28

• NBA G League regular season ends.

March 31

• NBA G League playoffs begin.

April 9

• Last day to waive a player on an expiring contract or a player with an option for 2026/27 (4:00 pm CT).

April 12

• Last day of the NBA regular season.
• Last day players can sign contracts for 2025/26.
• Last day two-way contracts can be converted to standard NBA contracts.
• Luxury tax penalties calculated based on payroll as of this day.

April 13

• Playoff rosters set (2:00 pm CT).

April 14-17

• NBA play-in tournament.

April 18

• NBA playoffs begin.

There are currently six teams ineligible to sign a free agent to fill the 15th spot on their roster due to their proximity to a hard cap. These are the dates when those clubs will have enough breathing room below their respective hard caps to add a 15th man:

• November 11: Golden State Warriors
• January 7: Los Angeles Clippers
• January 8: Houston Rockets
• January 9: Orlando Magic
• January 18: Los Angeles Lakers
• April 2: New York Knicks

These dates are accurate as of October 24 (this story’s date of publication), but are subject to change if these clubs make in-season roster moves that increase or decrease their respective team salaries.

Information from NBA.com was used in the creation of this post.

The NBA’s annual deadline for rookie scale contract extensions passed on Monday, officially bringing the extension period for 2022 first-round picks to an end.

While there was a slight dip in rookie scale extensions this season after a streak of 11 or more for four consecutive years seasons, the drop-off wasn’t significant — nine players still signed new deals prior to Monday’s 5:00 pm Central time deadline.

It was the seventh straight year in which at least nine players completed rookie scale extensions. That didn’t happen at all between 2015-18. Since 2019, however, the total by year has been as follows:

• 2019: 9
• 2020: 10
• 2021: 11
• 2022: 11
• 2023: 14
• 2024: 11
• 2025: 9

Here’s a breakdown of the nine rookie scale extensions signed before this year’s deadline, sorted by total value.

Note: Projected values for maximum-salary extensions are based on a $166MM salary cap for 2026/27. If the cap comes in lower or higher than that, those max extensions would change in value, since they’re determined by a percentage of the cap.

• Paolo Banchero (Magic): Five years, maximum salary (story). Projected value of $240,700,000. Projected value can increase to $288,840,000 if Banchero makes an All-NBA team or is named MVP or Defensive Player of the Year. Includes fifth-year player option. Starts in 2026/27.
• Jalen Williams (Thunder): Five years, maximum salary (story). Projected value of $240,700,000. Projected value can increase to $250,328,000 if Williams makes the All-NBA third team; $259,956,000 if Williams makes the All-NBA second team; or $288,840,000 if Williams makes the All-NBA first team or is named MVP or Defensive Player of the Year. Starts in 2026/27.
• Chet Holmgren (Thunder): Five years, maximum salary (story). Projected value of $240,700,000. Starts in 2026/27.
• Keegan Murray (Kings): Five years, $140,000,000 (story). Starts in 2026/27.
• Christian Braun (Nuggets): Five years, $125,000,000 (story). Starts in 2026/27.
• Jabari Smith Jr. (Rockets): Five years, $122,000,000 (story). Starts in 2026/27.
• Dyson Daniels (Hawks): Four years, $100,000,000 (story). Starts in 2026/27.
• Shaedon Sharpe (Trail Blazers): Four years, $90,000,000 (story). Starts in 2026/27.
• Nikola Jovic (Heat): Four years, $62,400,000 (story). Starts in 2026/27.

As is typically the case, the maximum-salary deals were completed relatively early in the offseason, with Banchero, Williams, and Holmgren all signing within the first two weeks of July.

It came as no surprise that any of those three players signed maximum-salary contracts, but it was notable that the Thunder were able to avoid including Rose Rule language in their deal with Holmgren, which will start at 25% of the cap even if he earns award recognition in 2025/26. Williams, meanwhile, will only get up to 30% of the cap with a first-team All-NBA, MVP, or Defensive Player of the Year season. If he repeats last year’s feat and makes the All-NBA third team, his deal would start at a more manageable 26% of the cap.

Besides those three extensions, there was one more deal completed at the start of free agency, with Smith coming to terms with the Rockets very early in the offseason. That $122MM agreement was a significant commitment to a player who didn’t take a major step forward in his third NBA season, but it’s the kind of investment that could look savvy down the road, given that the former No. 3 overall pick is still just 22 years old.

The other five extensions were completed in October, including three coming in on Monday. Those contracts ranged from $15.6MM annually for Jovic to $28MM per year for Murray. Braun and Daniels each got $25MM per season, with Sharpe’s new deal coming in at $22.5MM annually.

While none of those contracts looks like a massive overpay to me, I’d be most comfortable with the investments in Braun and Daniels, given that they’ve already shown the ability to be impactful starting-caliber players. Sharpe, Jovic, and Murray all have the upside to make good on their respective extensions (and then some), but those long-term agreements are more about what their teams think they can become than what they’ve done so far.

A total of 22 players entered the offseason eligible for rookie scale extensions. Nine signed extensions and one – Blake Wesley – was waived, so there are 12 players who didn’t reach agreements and will be entering contract years.

Here’s that list of those players, who are now eligible to become restricted free agents during the 2026 offseason, assuming they finish out their current deals:

• Ochai Agbaji (Raptors)
• Malaki Branham (Wizards)
• Ousmane Dieng (Thunder)
• Jalen Duren (Pistons)
• Tari Eason (Rockets)
• Jaden Ivey (Pistons)
• Walker Kessler (Jazz)
• Bennedict Mathurin (Pacers)
• Jeremy Sochan (Spurs)
• Dalen Terry (Bulls)
• Peyton Watson (Nuggets)
• Mark Williams (Suns)

A few players in this group – like Branham, Dieng, and Terry – never looked like serious extension candidates and will need to make their case this season that they’re worthy of qualifying offers in 2026 free agency.

However, there are several intriguing names on this list, including a few who still have a shot to earn $25MM+ annually on their next contracts if they play well in 2025/26.

Duren, Eason, and Kessler look to me like the safest bets for nice paydays in 2026, but Ivey and Williams are good candidates too if they have relatively healthy seasons, while Mathurin and Watson are well positioned to improve their stock in increased roles.

Several notable players who reached restricted free agency in 2025 after not signing extensions last October had a tough go of it this summer, with a couple (Cam Thomas and Quentin Grimes) settling for their qualifying offers. But with more cap room available around the league next offseason, there should be more opportunities for agents to regain some leverage in the process by wielding the threat of offer sheets.

Finally, it’s worth mentioning that there were eight players selected in the first round of the 2022 draft who weren’t eligible at all for rookie scale extensions entering this offseason, for various reasons. Those players are as follows:

• Patrick Baldwin Jr.: Fourth-year option declined by Wizards in 2024; waived in 2025.
• MarJon Beauchamp: Fourth-year option declined by Bucks in 2024; waived in 2025.
• Johnny Davis: Fourth-year option declined by Wizards in 2024; waived in 2025.
• AJ Griffin: Waived by Rockets in 2024.
• Jake LaRavia: Fourth-year option declined by Grizzlies in 2024.
• Wendell Moore Jr.: Fourth-year option declined by Pistons in 2024; waived in 2025.
• David Roddy: Fourth-year option declined by Hawks in 2024; waived in 2025.
• TyTy Washington Jr.: Waived by Thunder in 2023.

Of these six players, only LaRavia is currently on a standard NBA contract — he had a nice third season for Memphis and Sacramento after having his option turned down and parlayed that success into a two-year, $12MM deal with the Lakers.

Baldwin, Beauchamp, Davis, Moore, Roddy, and Washington were all recently waived from Exhibit 10 contracts and appear likely to open the season in the G League, while Griffin stepped away from basketball in 2024.