It hasn't been all that common in recent years for would-be contenders to carry significant cap room into free agency, but the Sixers and - to a lesser extent - the Thunder showed this year that it can still pay off in a big way.
Philadelphia plotted for over a year to maximize its cap room for the 2024 offseason, putting off a contract extension for Tyrese Maxey in order to generate extra spending power by keeping his modest cap hold on the books and then going over the cap to re-sign him. That approach put the 76ers in position to sign Paul George, arguably the top unrestricted free agent on the market, to a four-year, maximum-salary contract and then to use their remaining cap room to sign complementary players like Caleb Martin and Andre Drummond.
Oklahoma City, meanwhile, didn't have maximum-salary room available and didn't go big-game hunting at the very top of this year's free agent class, but the Thunder used their space to give Isaiah Hartenstein a front-loaded contract starting at $30MM, outbidding the Knicks to land either the best or second-best center available (depending on how you feel about Nic Claxton).
At this point, there are hardly any teams that project to operate under the cap in 2025, and many of the clubs that could have cap room - such as the Nets and Wizards - are still very much in the retooling stage.
There's one potential exception though. The Rockets finished last season with a 41-41 record and appear poised to take another step forward this season as their young core (which now includes No. 3 overall pick Reed Sheppard) continues to grow. Houston also has the ability to create maximum-salary cap space next offseason.
However, the Rockets' path to maximum-salary room isn't quite as clean as the Sixers' was, and may require shedding one or two starter-caliber players. Let's take a closer look at the team's potential path to max space.
Houston currently has just two players with guaranteed salaries for the 2025/26 season, but that total could increase to seven once the team picks up several rookie scale options for '25/26 by the October 31 deadline. Here are the details: