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The bi-annual exception is one of the tools available to NBA teams who are over the cap, giving those clubs the flexibility to offer free agents more than the minimum salary. In 2023/24, the bi-annual exception is worth $4,516,000 and can be used to offer a deal worth up to $9,257,800 over two years.

However, the bi-annual exception isn’t available to every team. Clubs that go below the cap in order to use cap room lose access to the exception. Additionally, using the BAE imposes a hard cap of $172,346,000 (the first tax apron) on a team. So if a club has surpassed the tax apron – or wants to retain the flexibility to do so – it can’t use the bi-annual exception.

Finally, as its name suggests, the bi-annual exception can’t be used by a team in consecutive years. In 2022/23, two teams used the BAE — the Sixers (Danuel House) and Heat (Kevin Love). As such, the exception isn’t available to those clubs during the 2023/24 league year. They’ll be able to use it again next summer.

With all those factors in mind, here’s a breakdown of how teams are using – or not using – their respective bi-annual exceptions in 2023/24:

Available Bi-Annual Exceptions:

Unused:

• Atlanta Hawks
• Brooklyn Nets
• Charlotte Hornets
• Chicago Bulls
• Dallas Mavericks
• Memphis Grizzlies
• Minnesota Timberwolves
• New Orleans Pelicans
• New York Knicks
• Portland Trail Blazers
• Washington Wizards

Although all of these teams technically have the ability to use their bi-annual exceptions at some point in 2023/24, it’s more plausible for some than others.

For instance, the Timberwolves still have their full $12MM+ mid-level exception available and are aren’t far from the luxury tax line, so I wouldn’t expect them to use the BAE this season. If they need to offer more than the veteran’s minimum to sign a player, it will likely come out of their MLE.

Used:

• Cleveland Cavaliers
  • Used: $2,439,025 (Ty Jerome)
  • Available: $2,076,975
• Los Angeles Lakers
  • Used: $4,516,000 (Taurean Prince)
  • Available: $0
• Toronto Raptors
  • Used: $4,516,000 (Jalen McDaniels)
  • Available: $0

Typically, about two to four teams in a given league year use the bi-annual exception, and this season has yet to buck that trend.

The Lakers and Raptors are the only two teams to use their entire bi-annual exceptions to date, so they won’t have it available in 2024/25. Neither will the Cavaliers, even though they’ve only used a little over half of the BAE so far this season.

Unavailable Bi-Annual Exceptions:

Went under cap:

• Detroit Pistons
• Houston Rockets
• Indiana Pacers
• Oklahoma City Thunder
• Orlando Magic
• Sacramento Kings
• San Antonio Spurs
• Utah Jazz

These eight teams forfeited their right to the bi-annual exception when they went under the cap and used space this offseason.

Over (or near) tax apron:

• Boston Celtics
• Denver Nuggets
• Golden State Warriors
• Los Angeles Clippers
• Milwaukee Bucks
• Phoenix Suns

In theory, cost-cutting moves by these teams could put them in position to use their bi-annual exceptions. In actuality though, that’s a long shot, especially for clubs like the Clippers, Warriors, and Suns, whose team salaries are well beyond the second tax apron.

Used last year:

• Miami Heat
• Philadelphia 76ers

As noted in the intro, these are the two teams that used their bi-annual exceptions in 2022/23 and, as a result, won’t have them again until 2024/25.

In addition to receiving approximately $136MM in cap room and being allowed to surpass that threshold in order to sign players using Bird Rights or the minimum salary exception, each NBA team also receives a mid-level exception. The value of this exception varies depending on a club’s total team salary.

A team that goes under the cap to use its available cap room, for instance, receives a form of the MLE known as the room exception. An over-the-cap team receives the full mid-level exception, unless that team is also over the first tax apron, in which case it gets a modest taxpayer version of the MLE. A team whose salary is over the second tax apron isn’t permitted to use its mid-level at all.

We detailed the exact values of each form of mid-level exception earlier this offseason, but here’s a quick breakdown:

• Room exception: Can be used for contracts up to three years, with a starting salary worth up to $7,723,000.
• Taxpayer mid-level exception: Can be used for contracts up to two years, with a starting salary worth up to $5,000,000.
• Full/non-taxpayer mid-level exception: Can be used for contracts up to four years, with a starting salary worth up to $12,405,000.
  • Note: Though its name suggests otherwise, using the non-taxpayer mid-level exception doesn’t mean a team can’t or won’t be above the tax line ($165,294,000) at season’s end; it simply means the team’s total salary can’t surpass the first tax “apron” ($172,346,000).

Now that most of the NBA’s teams have used up their cap space, it’s worth keeping an eye on which teams still have part or all of their mid-level exceptions available, which we’ll do in the space below.

This list will be kept up to date throughout the 2023/24 league year, with new MLE deals added once those signings are officially completed and we confirm the contract details.

Note: After the 2024 trade deadline, the value of the exceptions below will begin to prorate downward.

Here’s where things currently stand:

Mid-Level Exception:

Non-taxpayer: $12,405,000
Taxpayer: $5,000,000

Atlanta Hawks

• Used: $0

Boston Celtics

• Used: $0
• Note: The Celtics are limited to the taxpayer mid-level exception, at best.

Brooklyn Nets

• Used: $850,000 (Jalen Wilson)

Charlotte Hornets

• Used: $0
  

Chicago Bulls

• Used: $6,190,476 (Jevon Carter); $500,000 (Onuralp Bitim)

Cleveland Cavaliers

• Used: $8,800,000 (Georges Niang); $1,500,000 (Craig Porter Jr.)

Dallas Mavericks

• Used: $3,000,000 (Dante Exum); $4,000,000 (Seth Curry); $1,000,000 (A.J. Lawson)
• Note: The Mavericks used $10.5MM of their mid-level exception to sign Matisse Thybulle to an offer sheet, but it was matched by the Trail Blazers, freeing up Dallas’ MLE.
  

Denver Nuggets

• Used: $5,000,000 (Reggie Jackson)
• Note: The Nuggets are limited to the taxpayer mid-level exception.

Golden State Warriors

• Used: $0
• Note: The Warriors are over the second tax apron and don’t have the mid-level exception available.

Los Angeles Clippers

• Used: $0
• Note: The Clippers are over the second tax apron and don’t have the mid-level exception available.

Los Angeles Lakers

• Used: $10,500,000 (Gabe Vincent); $1,554,655 (Spencer Dinwiddie)

Memphis Grizzlies

• Used: $5,000,000 (Bismack Biyombo); $2,232,308 (Vince Williams); $1,991,428 (GG Jackson)

Miami Heat

• Used: $0
• Note: The Heat aren’t expected to have the mid-level exception available due to their proximity to the second tax apron.

Milwaukee Bucks

• Used: $0
• Note: The Bucks are over the second tax apron and don’t have the mid-level exception available.

Minnesota Timberwolves

• Used: $5,000,000 (Shake Milton); $4,000,000 (Troy Brown)

New Orleans Pelicans

• Used: $1,801,769 (E.J. Liddell); $1,500,000 (Matt Ryan)

New York Knicks

• Used: $11,650,000 (Donte DiVincenzo)

Philadelphia 76ers

• Used: $2,795,839 (Kyle Lowry); $864,353 (Ricky Council)
• Note: Limited to taxpayer mid-level exception.

Phoenix Suns

• Used: $0
• Note: The Suns are over the second tax apron and don’t have the mid-level exception available.

Portland Trail Blazers

• Used: $1,951,220 (Duop Reath)
  

Toronto Raptors

• Used: $12,405,000 (Dennis Schröder)

Washington Wizards

• Used: $900,000 (Eugene Omoruyi); $2,424,892 (Tristan Vukcevic); $1,250,000 (Jared Butler)

Room Exception:

Available: $7,723,000

Detroit Pistons

• Used: $0

Houston Rockets

• Used: $0

Indiana Pacers

• Used: $1,100,000 (Kendall Brown)

Oklahoma City Thunder

• Used: $7,723,000 (Vasilije Micic)

Orlando Magic

• Used: $0

Sacramento Kings

• Used: $6,341,464 (Sasha Vezenkov); $683,430 (Keon Ellis)

San Antonio Spurs

• Used: $0

Utah Jazz

• Used: $500,000 (Kenneth Lofton Jr.); $500,000 (Darius Bazley)
  
• Note: The Jazz used their room exception to sign Paul Reed to an offer sheet, but it was matched by the Sixers, freeing up Utah’s exception.

With most of the free agent signings reported in late June and early July now official and updates on new contract agreements still coming in, Hoops Rumors is here to help you keep track of which players are heading to which teams this offseason.

To this end, we present our Free Agent Tracker, a feature we’ve had each year since our inception in 2012. Using our tracker, you can quickly look up deals, sorting by team, position, free agent type, and a handful of other variables.

A few notes on the tracker:

• Some of the information you’ll find in the tracker will reflect tentative agreements, rather than finalized deals. As signings become official, we’ll continue to update and modify the data as needed.
• Similarly, contract years and dollars will be based on what’s been reported to date, so in some cases those amounts will be approximations rather than official figures. Salaries aren’t necessarily fully guaranteed either.
• Players who have reportedly agreed to training camp/Exhibit 10 deals won’t be added to the tracker until those deals are official.
• A restricted free agent who signs an offer sheet won’t be included in the tracker right away. We’ll wait to hear whether the player’s original team will match or pass on that offer sheet before we update our tracker, in order to avoid any confusion.
• If you’re viewing the tracker on our mobile site, be sure to turn your phone sideways to see more details.

Our 2023 Free Agent Tracker can be found anytime on the right sidebar of our desktop site under “Hoops Rumors Features,” and it’s also under the “Tools” menu atop the site. On our mobile site, it can be found in our menu under “Free Agent Lists.”

The tracker will be updated throughout the offseason, so be sure to check back for the latest info. If you have any corrections, please let us know right here.

Our lists of free agents by position/type and by team break down the players who have yet to reach contract agreements.

A number of 2023 free agents, such as Jerami Grant and Fred VanVleet, did very well for themselves on the open market this summer. However, the most lucrative contracts signed since the new league year began weren’t free agent deals at all — they were contract extensions.

Extensions, of course, don’t involve adding a new player to the roster. By extending a contract, a team ensures that a current player will remain locked up for multiple years to come. Although a contract extension may not change the club’s outlook on the court, it can have a major impact on that team’s salary cap situation for the next several seasons.

Rookie scale extensions are one form of contract extension. Former first-round picks who are entering the fourth and final year of their rookie deals are eligible to sign those up until the day before the 2023/24 regular season begins. It’s common for at least four or five players eligible for rookie scale extensions to sign them, and that number is often much higher — there were 11 rookie scale extensions signed in both 2021 and 2022.

[RELATED: Players Eligible For Rookie Scale Extensions In 2023 Offseason]

While they used to be rarer than rookie scale extensions, veteran extensions are happening more frequently these days. The league’s 2017 Collective Bargaining Agreement expanded the rules for eligibility and created some additional incentives for star players to sign new deals before they reach free agency, and the 2023 CBA has further incentivized veteran extensions. During the 2022/23 league year, a total of 23 veteran extensions were signed, more than doubling the amount of rookie scale extensions completed during that same window.

The deadline for a veteran extension for a player who isn’t in the final year of his current contract is the day before the regular season tips off. However, a player eligible for a veteran extension who is on an expiring deal can sign a new contract throughout the league year, all the way up to June 30, the day before he becomes a free agent.

Listed below are the players who have finalized contract extensions so far in 2023/24. This list, which can be found on the right-hand sidebar under “Hoops Rumors Features” on our desktop site (or on the “Features” page in our mobile menu), will be kept up to date throughout the ’23/24 league year, with more extension details added as we learn them.

Note: Projected values for maximum-salary extensions are based on a $141,000,000 salary cap for 2024/25 and a 10% increase for 2025/26. Those contracts are based on a percentage of the cap, so their values would fluctuate depending on exactly where the ’24/25 and ’25/26 caps end up.

Rookie scale contract extensions:

• LaMelo Ball (Hornets): Five years, maximum salary (story). Projected value of $204,450,000. Projected value can increase to $245,340,000 if Ball meets Rose Rule criteria. Includes 15% trade kicker. Starts in 2024/25.
• Anthony Edwards (Timberwolves): Five years, maximum salary (story). Projected value of $204,450,000. Projected value can increase to $245,340,000 if Edwards meets Rose Rule criteria. Includes 15% trade kicker. Starts in 2024/25.
• Tyrese Haliburton (Pacers): Five years, maximum salary (story). Projected value of $204,450,000. Projected value can increase to $245,340,000 if Haliburton meets Rose Rule criteria. Includes 15% trade kicker. Starts in 2024/25.
• Desmond Bane (Grizzlies): Five years, $197,230,450 (story). Includes $8,669,550 in incentives. Includes 15% trade kicker. Starts in 2024/25.
• Devin Vassell (Spurs): Five years, $135,000,000 (story). Includes $11,000,000 in incentives. Starts in 2024/25.
• Jaden McDaniels (Timberwolves): Five years, $131,000,000 (story). Includes $5,000,000 in incentives. Starts in 2024/25.
• Onyeka Okongwu (Hawks): Four years, $62,000,000 (story). Starts in 2024/25.
• Isaiah Stewart (Pistons): Four years, $60,000,000 (story). Includes $4,000,000 in incentives. Includes fourth-year team option. Starts in 2024/25.
• Deni Avdija (Wizards): Four years, $55,000,000 (story). Starts in 2024/25.
• Josh Green (Mavericks): Three years, $41,000,000 (story). Starts in 2024/25.
• Cole Anthony (Magic): Three years, $39,100,000 (story). Includes third-year team option. Starts in 2024/25.
• Aaron Nesmith (Pacers): Three years, $33,000,000 (story). Starts in 2024/25.
• Zeke Nnaji (Nuggets): Four years, $32,000,001 (story). Includes fourth-year player option. Starts in 2024/25.
• Payton Pritchard (Celtics): Four years, $30,000,000 (story). Starts in 2024/25.

Veteran contract extensions:

• Jaylen Brown (Celtics): Five years, maximum salary (story). Projected value of $286,230,000 (super-max). Includes trade kicker (lesser of 7% or $7,000,000). Starts in 2024/25.
• Giannis Antetokounmpo (Bucks): Three years, maximum salary (story). Third-year player option. Projected value of $175,883,400. Starts in 2025/26.
• Anthony Davis (Lakers): Three years, maximum salary (story). Third-year player option. Projected value of $175,883,400. Starts in 2025/26.
• Domantas Sabonis (Kings): Four years, $175,616,000 (story). Includes renegotiation (2023/24 salary increased by $8,600,000 to $28,000,000). $184,216,000 in total new money. Includes $10,400,000 in incentives (plus $2,600,000 in existing incentives in 2023/24). Extension starts in 2024/25.
• Kawhi Leonard (Clippers): Three years, $149,650,000 (story). Includes 15% trade kicker. Starts in 2024/25.
• Jrue Holiday (Celtics): Four years, $134,400,000 (story). Includes fourth-year player option. Starts in 2024/25.
• Dejounte Murray (Hawks): Four years, $111,102,208 (story). Includes $9,015,993 in incentives. Includes fourth-year player option. Includes 15% trade kicker. Starts in 2024/25.
• Josh Hart (Knicks): Four years, $80,915,820 (story). Includes fourth-year team option. Starts in 2024/25.
• Grayson Allen (Suns): Four years, $70,000,000 (story). Includes fourth-year player option. Starts in 2024/25.
• Kristaps Porzingis (Celtics): Two years, $60,000,000 (story). Starts in 2024/25.
• Jarred Vanderbilt (Lakers): Four years, $48,000,000 (story). Includes fourth-year player option. Starts in 2024/25.
• Zach Collins (Spurs): Two years, $34,821,696 (story). Starts in 2024/25.
• Jordan Clarkson (Jazz): Two years, $28,378,291 (story). Includes renegotiation (2023/24 salary increased by $9,227,629 to $23,487,629). $37,605,920 in total new money. Includes $1,134,081 in incentives. Extension starts in 2024/25.
• Kelly Olynyk (Raptors): Two years, $26,250,000 (story). Starts in 2024/25.
• Richaun Holmes (Wizards): Two years, $25,929,058 (story). Second year partially guaranteed ($250K). Starts in 2024/25.
• Mike Conley (Timberwolves): Two years, $20,750,000 (story). Starts in 2024/25.
• Miles McBride (Knicks): Three years, $13,000,000 (story). Starts in 2024/25.

Note: Multiple veterans, including Nikola Vucevic (Bulls), Naz Reid (Timberwolves) and Harrison Barnes (Kings), signed extensions less than a week before the 2023/24 league year began. Those deals are listed in our 2022/23 extension tracker.

Two-way contracts allow NBA teams to carry three extra players in addition to the 15 on their regular season roster. These players generally bounce back and forth between the NBA and G League, but remain under team control and can’t be poached by rival franchises.

First introduced in 2017, two-way deals have undergone some rule changes in recent years, and the NBA’s new Collective Bargaining Agreement has updated them further. Here are some key points to remember:

• Teams can now carry three players on two-way contracts, rather than two.
• Two-way players are eligible to be active for up to 50 of their team’s 82 regular season games. If a team isn’t carrying a full 15-man roster, its two-way players can only be active for a combined 90 games.
• Players on two-way contracts will earn $559,782 in 2023/24, half of the rookie minimum.

You can check out our glossary entry to learn more about two-way contracts.

NBA teams have begun to fill in their two-way slots for the 2023/24 league year, so we’ll track all those deals in the space below. Some two-way players from 2022/23 inked two-year contracts and remain under contract for this season, while others have been newly signed.

If a two-way signing has been reported by a trusted source but isn’t yet official, we’ll list it in italics and link to the report, updating the info as necessary. Players who are in the first year of two-way contracts that cover two years (the maximum length), will be noted with an asterisk (*) once that info is confirmed.

This tracker will continue to be updated throughout the 2023/24 league year, and can be found anytime in the “Hoops Rumors Features” menu on the right-hand sidebar of our desktop site, or in the “Features” menu on our mobile site.

Here are 2023/24’s two-way players:

Updated 4-23-24

Atlanta Hawks

1. Seth Lundy, G/F
2. Vit Krejci, G
3. Dylan Windler, G/F

Boston Celtics

1. JD Davison, G
2. Drew Peterson, F
3. Empty

Brooklyn Nets

1. Keon Johnson, G
2. Jaylen Martin, G/F *
3. Jacob Gilyard, G

Charlotte Hornets

1. Amari Bailey, G
2. Leaky Black, F *
3. Marques Bolden, C *

Chicago Bulls

1. Adama Sanogo, F
2. Henri Drell, G/F
3. Andrew Funk, G *

Cleveland Cavaliers

1. Isaiah Mobley, F
2. Emoni Bates, F
3. Pete Nance, F

Dallas Mavericks

1. Greg Brown, F
2. Brandon Williams, G
3. Alex Fudge, F *

Denver Nuggets

1. Collin Gillespie, G
2. Braxton Key, F
3. Jay Huff, C

Detroit Pistons

1. Jared Rhoden, G
2. Buddy Boeheim, G/F *
3. Tosan Evbuomwan, F *

Golden State Warriors

1. Jerome Robinson, G
2. Pat Spencer, G *
3. Empty

Houston Rockets

1. Jermaine Samuels, F
2. Jeenathan Williams, G/F
3. Nate Hinton, G/F

Indiana Pacers

1. Oscar Tshiebwe, C
2. Isaiah Wong, G
3. Quenton Jackson, G

Los Angeles Clippers

1. Moussa Diabate, C
2. Jordan Miller, F *
3. Xavier Moon, G/F

Los Angeles Lakers

1. Colin Castleton, F/C
2. Skylar Mays, G
3. Harry Giles, C

Memphis Grizzlies

1. Scotty Pippen Jr., G *
2. Trey Jemison, C *
3. Jordan Goodwin, G

Miami Heat

1. Jamal Cain, F
2. Cole Swider, F
3. Alondes Williams, G

Milwaukee Bucks

1. TyTy Washington Jr., G
2. Ryan Rollins, G *
3. Jaylin Galloway, G/F *

Minnesota Timberwolves

1. Jaylen Clark, G *
2. Daishen Nix, G
3. Empty

New Orleans Pelicans

1. Dereon Seabron, G
2. Malcolm Hill, G/F *
3. Empty

New York Knicks

1. Charlie Brown Jr., G
2. Duane Washington, G
3. Jacob Toppin, F

Oklahoma City Thunder

1. Keyontae Johnson, G/F
2. Olivier Sarr, C
3. Adam Flagler, G *

Orlando Magic

1. Kevon Harris, G
2. Admiral Schofield, F
3. Trevelin Queen, G

Philadelphia 76ers

1. Terquavion Smith, G
   
2. Empty
3. Empty

Phoenix Suns

1. Saben Lee, G
2. Udoka Azubuike, C
3. Ish Wainright, F

Portland Trail Blazers

1. Justin Minaya, F
2. Ibou Badji, C
3. Ashton Hagans, G

Sacramento Kings

1. Jalen Slawson, F
2. Jordan Ford, G
3. Mason Jones, G *

San Antonio Spurs

1. David Duke, G
2. Jamaree Bouyea, G *
3. RaiQuan Gray, F/C *

Toronto Raptors

1. D.J. Carton, G *
2. Mouhamadou Gueye, F *
3. Empty

Utah Jazz

1. Micah Potter, C
2. Johnny Juzang, G
3. Jason Preston, G *

Washington Wizards

1. Jules Bernard, G
2. Justin Champagnie, G/F *
3. Empty

A majority of the top free agents in the 2023 class came off the board over the weekend, but there are still several unresolved storylines to follow as the offseason continues. Here are a few of them:

Where – and when – will Damian Lillard and James Harden be traded?

A pair of stars who have earned 14 All-NBA berths between them have requested trades from their respective teams, with Lillard seeking a move out of Portland and Harden looking for an exit from Philadelphia.

There should be no shortage of suitors for Lillard, who averaged a career-high 32.2 points per game in his 58 contests last season and still has four years left on his current contract. However, he has reportedly conveyed that he only wants to go to the Heat, limiting the Trail Blazers‘ leverage in trade talks.

The other 28 teams not on Lillard’s wish list may be reluctant to give up their best assets without knowing how he’ll respond if they acquire him. And the Blazers might be wary of taking a reputational hit if they send arguably the best player in franchise history somewhere he doesn’t want to go.

Still, Portland will want to maximize the return in its most important move of the season, so if Lillard’s going to end up in Miami, it will likely require a multi-team structure that gets the Blazers the assets they want — Tyler Herro reportedly isn’t one of them. That could take some time to figure out.

As for Harden, he’s said to be focused on the Clippers. The former MVP has requested three trades since the start of the 2020/21 season and is on an expiring contract that can’t be extended, so it’s unlikely that any team is prepared to give up a massive haul for him. However, Sixers president of basketball operations Daryl Morey is known to operate very deliberately in these situations and is unlikely to settle for an offer he doesn’t feel good about.

Will a restricted free agent sign an offer sheet?

As we outlined on Tuesday, many of this year’s best remaining free agents – including five of the eight still in play from our top-50 list – are restricted. That group includes players like Hornets forward P.J. Washington, Celtics forward Grant Williams, and Trail Blazers forward Matisse Thybulle.

An offer sheet can be signed during the July moratorium, but it’s rare for it to actually happen during that time, since the clock on the matching period doesn’t start until July 6. Teams typically aren’t eager to compromise their cap flexibility for several days waiting to see if their offer sheets will be matched, so if one is going to be signed this year, it’s likely to happen on or after Thursday.

While Washington, Williams, and Thybulle are the best candidates for an offer sheet, don’t overlook the other two available standard RFAs, Bulls guard Ayo Dosunmu or Sixers big man Paul Reed. There’s also a large group of two-way players who are technically restricted free agents, though we haven’t really seen teams pursue offer sheets with those players in the past.

Of course, if a team with strong interest in a restricted free agent wants to land him and doesn’t want to have to worry about whether his old team will match an offer, a sign-and-trade deal could get both sides what they want. Williams looks like the top candidate for such a move.

What will the Spurs do with their remaining cap room?

Keith Smith of Spotrac (Twitter link) estimated on Sunday that the Spurs still have north of $25MM in cap room. They’re the only team whose salary currently projects to be well below the minimum floor (90% of the cap), and the rule tweaks in the CBA mean they have every reason to spend at least to the minimum before the regular season begins. If they don’t, they’ll lose their cap room up to the floor and forfeit a portion of their share of the end-of-season luxury tax distribution.

There has been no indication so far that the Spurs are considering making a play for one of the top available restricted free agents. That certainly doesn’t mean it won’t happen, but it appears San Antonio’s preferred route would be to accommodate a salary-dump trade or two and continue stockpiling assets. That was the path the team took when it got involved in the Max Strus sign-and-trade deal between Cleveland and Miami, picking up a second-round pick along with Cedi Osman and Lamar Stevens.

That makes the Spurs a team to watch as a potential factor in the Lillard and Harden sweepstakes.

San Antonio isn’t the only club with some cap room remaining. Houston and Orlando can generate between $10-15MM, per Smith.

That’s probably more interesting for the Rockets than the Magic, given how the two teams have approached the offseason so far — after agreeing to lucrative multiyear deals with Fred VanVleet and Dillon Brooks, Houston could be looking to strike once more in free agency, whereas Orlando has been pretty quiet outside of making a deal to add Joe Ingles. I don’t get the feeling the Magic are looking to take advantage of their cap flexibility by making a significant addition.

Will the end of the July moratorium spur more action?

Most of the major free agent deals and trade agreements that have been reported since June 30 are tentative, since they can’t be officially completed until after 11:00 am Central time on Thursday, when the July moratorium ends.

Often, there’s a second wave or mini-rush of moves around that time, as teams begin officially using up their cap room and filling out their rosters. Notable unrestricted free agents who have yet to find a deal – such as perhaps Christian Wood or Kelly Oubre – may soon line up an opportunity, while separate trades that have been reported in pieces in recent days will come together as expanded multi-team deals.

While the end of the moratorium period doesn’t typically provide the sort of fireworks it did in 2019, when the Clippers landed Kawhi Leonard and Paul George in the early hours of the morning on July 6, it should be a busy Thursday in the NBA.

Which young players will make an impact in Summer League?

The Salt Lake City and Sacramento Summer Leagues got underway in Monday, but the main event – the Las Vegas Summer League – won’t tip off until Friday.

All eyes on the first day in Vegas will be on Spurs big man Victor Wembanyama, the No. 1 pick in last month’s draft. Wembanyama hasn’t suited up for his new NBA team at the Sacramento Summer League, but is expected to make his Spurs debut on Friday against No. 2 pick Brandon Miller and the Hornets, Marc Stein writes at Substack.

I wouldn’t expect Wembanyama to suit up for more than a game or two, but there will be plenty of other intriguing young players to watch in Las Vegas, including last year’s No. 2 pick Chet Holmgren, who had a promising 2023 debut on Monday in Salt Lake City.

Summer League success certainly doesn’t always carry over to the regular season, but it was a springboard to strong seasons last year for players like Keegan Murray (the 2022 Summer League MVP), Quentin Grimes, Santi Aldama, and Bennedict Mathurin.