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NBA Teams With Open Roster Spots

October 22nd, 2025 at 11:13am CST by Luke Adams

Each of the NBA’s 30 teams is permitted to carry 15 players on standard contracts and three on two-way deals once the regular season begins, which works out to a maximum of 540 players across 30 rosters.

[RELATED: 2025/26 NBA Roster Counts]

Of those 540 potential roster spots, 522 are currently occupied to open the 2025/26 season, leaving 18 open roster spots around the NBA across 17 teams. Here’s the full breakdown of those 18 openings around the league:

One open standard roster spot and one open two-way slot

Cleveland Cavaliers

The only team operating above the second tax apron, the Cavaliers are likely in no hurry to fill the 15th spot on their standard roster, which would cost them exponentially more in tax penalties beyond the player’s salary. Cleveland also has the ability to make changes involving its 14th roster spot at some point if it wants to — Thomas Bryant minimum-salary contract is fully non-guaranteed, so he’d only be owed a prorated portion of his salary if he’s waived at some point on or before January 7.

While two-way players don’t count against the salary cap, they still earn modest salaries (half the rookie minimum), so it’s possible the Cavs will look to save a little money on the league’s priciest roster by holding their third two-way slot open for the time being. A team that has an open standard roster spot is also limited to 90 overall active games for its two-way players instead of 50 apiece, so the Cavs probably aren’t looking to use up many of those games early in the season if they can help it.

One open standard roster spot

Atlanta Hawks
Boston Celtics
Denver Nuggets
Detroit Pistons
Golden State Warriors
Houston Rockets
Los Angeles Clippers
Los Angeles Lakers
Miami Heat
Minnesota Timberwolves
New York Knicks
Orlando Magic
Philadelphia 76ers
Phoenix Suns
Toronto Raptors

Many of these teams are carrying an open roster spot for luxury tax reasons. The Celtics, Nuggets, Warriors, Rockets, Clippers, Lakers, Timberwolves, Knicks, Magic, Sixers, Suns, and Raptors are all over the tax line, while the Heat don’t have much breathing room below it.

Most of those teams will add 15th men eventually, but won’t do so yet. Several of them – Golden State, Houston, both L.A. teams, New York, and Orlando – actually can’t do so yet, since they’re operating so close to their respective hard caps.

The Hawks have room under the tax line for a 15th man, but of all the teams in this group, the Pistons could be the best bet to fill their open roster spot sooner rather than later. They’re well more than $20MM below the tax line, so there are no concerns related to finances or spending flexibility. Still, given that Jaden Ivey is the only player on the roster dealing with more than a day-to-day injury right now, there’s no urgency to bring in a 15th man immediately.

One open two-way slot

Brooklyn Nets

In the past, a team without a G League affiliate of its own might be slow to fill its two-way contract slots, but all 30 NBA clubs now have affiliates in the NBAGL, so outside of thriftiness, there’s no real excuse not to carry a full complement of two-way players once the G League season begins in the coming weeks.

That’s especially true for the Nets, whose team salary is the lowest in the league entering the season. With so many rookies on the team’s standard roster, a third two-way player might not see any action at the NBA level anytime soon, but it would still make sense for Brooklyn to bring in another young prospect to develop in the G League.

And-Ones: International Players, NBA Europe, Taxpayers, More

October 21st, 2025 at 12:17pm CST by Luke Adams

Highlighting some of the storylines and potential milestones to watch as the 2025/26 NBA season gets underway, Tim Reynolds of The Associated Press observes that the league is setting a series of records related to international players this fall.

According to Reynolds, there are a record 135 players born outside of the U.S. on the league’s 30 opening night rosters. Of those 135 players, 71 are from Europe, which also represents a new high watermark. In total, 43 non-U.S. countries are represented on NBA rosters, tying a league record, Reynolds writes, and each team has at least one international players on its roster.

The rising level of talent from Europe and elsewhere around the world is one reason why the NBA has been moving forward on plans to launch a new professional league based in Europe. According to Aris Barkas of Eurohoops, NBA deputy commissioner Mark Tatum told reporters this week that the goal is to get NBA Europe off the ground within the next couple years. Tatum also specifically identified seven countries the league is eyeing for permanent franchises in that league.

“In phase one, our plan is Spain, U.K., France, Italy, Germany, maybe Turkey, and maybe Greece,” Tatum said. “But there will be some open spots in the ecosystem, so in the early phase, (others) will be able to qualify.”

We have more odds and ends from around the basketball world:

Fourteen of the NBA’s 30 teams will open the season as projected taxpayers, according to ESPN’s Bobby Marks (Twitter link), though he acknowledges that number will certainly change in the coming months. The Raptors (over the luxury tax line by just $772K), Nuggets ($402K), and Suns ($274K) are among the prime candidates to duck out of tax territory by February’s trade deadline.
Keith Smith of Spotrac also takes look at teams’ cap situations around the NBA, identifying where every club is operating relative to the aprons, tax line, and salary cap.
In an extensive preview of the 2025/26 season, a panel of ESPN writers ranked all 30 teams entering the year, from the Thunder at No. 1 to the Wizards at No. 30.
Within the past year, several NBA stars have taken on general manager or assistant GM roles with their alma maters, including Stephen Curry at Davidson, Trae Young at Oklahoma, and Damian Lillard at Weber State. Lindsay Schenll of The Athletic explores that trend, noting that the titles are mostly ceremonial but that those stars are willing to help fundraise, recruit, or do whatever else the program might ask of them. “I may not talk to every recruit, but if there is a high-level recruit, you best believe I’m gonna talk to the kid,” Young said. “If there’s a kid I feel like we’re not going after hard enough, I might bring it to their attention. … I’m not gonna overstep. But there’s definitely opinions I’m gonna mention.”
Sovereign wealth funds based in Abu Dhabi and elsewhere in the Middle East have become increasingly involved in the NBA as investors in recent years. ESPN’s Brian Windhorst explores how this partnership between the league and those investors came about and where it’s headed in the future.

No Rookie Scale Extensions For Rockets’ Eason, 11 Others

October 20th, 2025 at 5:24pm CST by Luke Adams

The Rockets and forward Tari Eason failed to come to terms on a rookie scale extension ahead of the 5:00 pm Central time deadline on Monday, reports Shams Charania of ESPN (Twitter link).

Entering the day, Eason looked like one of the top remaining candidates to sign a rookie scale extension, along with Nuggets wing Christian Braun and Hawks guard Dyson Daniels. However, while Braun and Daniels completed deals worth $25MM annually, the Rockets and Eason were unable to find common ground “on multiple fronts,” according to Charania.

That wording suggests the two sides not have seen eye to eye on both years and dollars, or perhaps they disagreed over how the end of a potential extension would be structured in terms of options and/or guaranteed money.

According to Kelly Iko of Yahoo Sports (Twitter link), the Rockets and Eason’s camp had been “far apart in valuation” for weeks and weren’t able to bridge that gap despite an 11th hour push from the team, which was in position to work out an agreement with Eason after extending Kevin Durant over the weekend.

Eason is one of 12 players who didn’t sign rookie scale extensions prior to Monday’s deadline despite being eligible. Those players will now be on track for restricted free agency when their rookie scale contracts expire during the 2026 offseason.

Here’s that full list of players, sorted by their 2022 draft position and with their projected 2026 qualifying offers included in parentheses:

Jaden Ivey, Pistons ($13,402,098)
Bennedict Mathurin, Pacers ($12,256,222)
Jeremy Sochan, Spurs ($9,615,393)
Ousmane Dieng, Thunder ($9,132,437)
Jalen Duren, Pistons ($8,966,188)
Ochai Agbaji, Raptors ($8,879,483)
Mark Williams, Suns ($8,774,590)
Tari Eason, Rockets ($8,014,182)
Dalen Terry, Bulls ($7,661,348)
Malaki Branham, Wizards ($7,110,593)
Walker Kessler, Jazz ($7,064,702)
Peyton Watson, Nuggets ($6,534,714)

Those qualifying offers, which must be issued in order to make the player a restricted free agent, are subject to change depending on whether or not the player meets the starter criteria next season. A player drafted in the top 14 who falls short of the criteria would have a qualifying offer worth $8,774,590. A player who was drafted between No. 10 and No. 30 and achieves the starter criteria would see the value of his QO increase to $9,615,393.

A team that issues a qualifying offer to a potential restricted free agent gains the right of first refusal on that player and can match any offer sheet he signs with a rival suitor. A player who doesn’t get a QO next June would hit the market as an unrestricted free agent.

Magic forward Paolo Banchero, Thunder teammates Chet Holmgren and Jalen Williams, Kings forward Keegan Murray, Rockets forward Jabari Smith Jr., Trail Blazers guard Shaedon Sharpe, and Heat forward Nikola Jovic joined Braun and Daniels in signing rookie scale extensions, bringing the total for 2025 to nine. The details on those deals can be viewed here.

Suns Notes: Ishbia, Lawsuits, Williams, Centers, Butler, Jones

October 19th, 2025 at 9:02am CST by Luke Adams

A pair of Suns minority owners dismissed their lawsuit against majority owner Mat Ishbia and the team on Friday, but intend to file a new suit over what their lawyer refers to as Ishbia’s “mismanagement” of the franchise, reports Mike Vorkunov of The Athletic.

It’s the latest development in a legal battle within the Suns’ ownership group. Andy Kohlberg (Kisco WC Sports) and Scott Seldin (Kent Circle Investments) sued the Suns and Ishbia in August, alleging that they weren’t being permitted to view records and financial information that would help them understand how the team was being run and how much their shares are worth. Ishbia filed a countersuit earlier this week, arguing that the initial suit was part of a negative PR campaign against him as those minority owners sought a buyout at an “extortionate” cost.

“Our clients succeeded in their books and records action in obtaining information we were seeking and have discontinued that case,” Michael Carlinsky, an attorney representing Kohlberg and Seldin, said in a statement, per Vorkunov. “We are now focused on the critical phase in our litigation, which will involve our clients’ assertion of claims for mismanagement and other misconduct and look forward to their day in court.”

Ishbia and the Suns remain confident that nothing will come of the new suit.

“This is more of the same from litigious limited partners who are using the courts to try to leverage a buyout,” Suns spokesperson Stacey Mitch said. “They dropped their books and records complaint because the organization is and has been fully transparent about its operations and success. We are confident that we will prevail in court.”

We have more on the Suns:

After taking part in a competitive scrimmage on Saturday, Suns center Mark Williams is on track to be available for the team when the regular season tips off on Wednesday, writes Duane Rankin of The Arizona Republic. “This was the most minutes he’s seen in a scrimmage that we’ve played,” head coach Jordan Ott said. “Mark is big. You can see his size out there, both ends. Offensively, puts pressure on the rim. Defensively, when someone is driving in there, you have to make the decision.” Phoenix has taken a cautious approach with Williams this fall due to his extensive injury history — he has played just 106 of 246 possible regular season games during his first three years in the NBA.
While Williams is expected to start at center, Ott said the rotation in the middle will be “fluid” early in the season, per Rankin. Oso Ighodaro, Nick Richards, and rookie Khaman Maluach will also be in the mix. “On a night-to-night basis, we’ll have a plan going into it, but we have to be a little fluid as coaches and kind of read the games and see exactly who is impacting winning out there on the court on a night-to-night basis,” Ott explained.
According to Rankin, Ott called it a “really tough” decision to cut Jared Butler, who had a big preseason with the Suns while on a non-guaranteed Exhibit 9 contract. Butler averaged 15.5 points, 4.2 assists, 3.2 rebounds, and 1.8 steals in 20.9 minutes per game across four preseason outings, but was waived because Phoenix is operating slightly over the tax line and apparently doesn’t plan to fill its 15th roster spot for now. “He was part of us for multiple months,” Ott said of Butler. “He really helped our group. Helped his teammates. Helped our intensity of camp. … Hopefully at the end of it, JB knows that we tried to do the best we could. Hopefully, we helped him.”
Former Suns general manager James Jones said on Thursday that his time in Phoenix was “phenomenal” and spoke about his new role in the NBA’s league office. Rankin has the highlights in a story for The Arizona Republic.

Extension Rumors: Daniels, Ivey, Duren, Eason, Braun, Sharpe

October 18th, 2025 at 7:39pm CST by Arthur Hill

After talking to agents and executives around the league, Jake Fischer of The Stein Line states in his latest Substack column (subscription required) that there will likely be few, if any, rookie scale extensions reached before Monday’s deadline that carry an average annual value larger than $25MM. Fischer adds that teams have become more cautious about handing out large deals because of the restrictions that accompany the first and second aprons.

He points to Hawks guard Dyson Daniels as someone who should be in good position to match the five-year, $150MM extensions that teammate Jalen Johnson and Orlando guard Jalen Suggs both received last offseason. However, sources tell Fischer that Atlanta’s front office is willing to let Daniels test restricted free agency next year if he won’t sign on the team’s terms.

Fischer notes that Daniels’ agent, Daniel Moldovan, also represents Josh Giddey, who just went through a months-long standoff with the Bulls in restricted free agency. Fischer adds that Daniels would likely be entering a more robust market for restricted free agents than the one that Giddey faced.

Fischer offers more information on players eligible for rookie scale extensions:

Jaden Ivey and Jalen Duren haven’t made much progress in their extension talks with the Pistons, sources tell Fischer. He suggests that management might be extra cautious with Ivey following arthroscopic surgery on his right knee this week. Ivey’s camp expects an active market if he does hit free agency, even though he’s also coming off a fractured left tibia that cost him most of last season. Sources describe negotiations with Duren as “tepid” so far, per Fischer, who adds that his representatives are asking for a new deal worth much more than $30MM in AAV and are also optimistic about his prospects on the open market.
The Rockets are hoping to sign Tari Eason to an extension that’s “significantly lower” than the five-year, $122MM deal that Jabari Smith Jr. accepted this summer, according to Fischer. The outcome of the Eason negotiations will affect what Houston is willing to give Kevin Durant in his extension talks, Fischer adds. With Amen Thompson expected to receive a max extension next offseason, Houston is being careful about not overloading its salary commitments. Fischer talked to capologists who said they would recommend limiting any Durant offers to $80MM over two years. As Fischer notes, it’s not certain that Durant would remain with the Rockets at that number.
It seems unlikely that Christian Braun will reach an extension agreement with the Nuggets, Fischer states. Sources tell him that Denver is already sending signals that it doesn’t want to become a taxpaying team next season, while Braun and his camp are hoping for a deal at $25MM in average annual value. The Nuggets are also holding extension talks with Peyton Watson, but Fischer suggests a new deal with him may not happen unless they can’t agree to terms with Braun.
Fischer views Trail Blazers guard Shaedon Sharpe as the most likely remaining candidate to hammer out an extension before the deadline. Rival teams that Fischer contacted expect Portland to give Sharpe something in the neighborhood of $100MM over four years.
Suns center Mark Williams, Jazz center Walker Kessler and Pacers wing Bennedict Mathurin all appear headed for restricted free agency, Fischer states. Of the three, Fischer points to Mathurin as the most likely to change teams because of Indiana’s reluctance to add more long-term salary.

Suns Waive McDermott, Mariano To Set Roster

October 18th, 2025 at 6:50pm CST by Luke Adams

After signing them on Friday, the Suns have officially waived forward Sean McDermott and wing Nathan Mariano, according to the transaction log at NBA.com.

McDermott, 28, appeared in 18 games for the Grizzlies on a two-way deal back in 2020/21, but hasn’t been in the NBA since then. The former Butler Bulldog spent a few seasons in the G League with the Memphis Hustle before continuing his career overseas, playing in Italy and Turkey the past two years.

Marino, 22, is a 6’9″ wing. He has spent several seasons playing professionally for Franca in Brazil, his home country.

Both players are likely to suit up this fall for the Valley Suns. The Exhibit 10 contracts they signed with Phoenix will make them eligible for bonuses worth up to $85,300 if they spend at least 60 days with the Suns’ G League team.

[RELATED: 2025/26 NBA Roster Counts]

As a result of the cuts, Phoenix now has 14 players on standard contracts and three on two-way deals, so the team’s roster is set for the regular season. The Suns could fill their 15th standard roster spot before their season gets underway next week, but likely won’t do so since they’re operating slightly over the luxury tax line.

Suns Waive Jared Butler, Will Keep Jordan Goodwin

October 17th, 2025 at 10:00pm CST by Rory Maher

Jordan Goodwin has won a training camp battle in Phoenix, according to Shams Charania of ESPN, who reports (via Twitter) that the Suns will retain the 6’3″ combo guard for the 2025/26 regular season.

The Suns claimed Goodwin in July after he was waived by the Lakers, who wanted to create room below the first apron to sign Marcus Smart. In late June, the Lakers picked up their team option on Goodwin’s $2.35MM contract for the upcoming season, which carries a guarantee of just $25K.

Goodwin, who turns 27 years old next week, averaged 5.6 points, 3.9 rebounds, 1.4 assists and 1.0 steal on .438/.382/.818 shooting in 29 games (18.7 minutes per contest) for the Lakers in ’24/25. He also had a strong preseason for Phoenix, averaging 12.5 PPG, 3.3 RPG, 2.3 APG and 1.8 SPG on .462/.389/.700 shooting in four games (19.0 MPG).

This is Goodwin’s second stint with the Suns — the former Saint Louis standout, who is known for his defense, also spent part of ’23/24 with Phoenix prior to being traded to Memphis.

Goodwin’s primary competition for Phoenix’s 14th standard roster spot — the team is only carrying 14 players due its tax situation — was believed to be guard Jared Butler, a four-year veteran who played for the Wizards and Sixers last season. The 25-year-old also had an impressive preseason, averaging 15.5 PPG, 4.3 APG, 3.3 RPG and 1.8 SPG on .471/.353/.667 shooting in four appearances (20.9 MPG).

The Suns have officially requested waivers on Butler and David Duke Jr., the team announced in a press release (Twitter link). Butler’s non-guaranteed training camp deal did not contain Exhibit 10 language, and it’s unclear what his next step will be. Duke’s deal did though, so he’s likely headed to the G League’s Valley Suns to open the season. Duke is another four-year veteran who has played for the Nets and Spurs.

Immediately after waiving Butler and Duke, the Suns signed Nathan Mariano and Sean McDermott to Exhibit 10 deals, tweets Keith Smith of Spotrac. Both players are locks to be waived in the coming hours.

Marino, 22, is a 6’9″ wing. He has spent several seasons playing professionally for Franca in Brazil, his home country.

McDermott, 28, spent time with Memphis on a two-way deal back in 2020/21. The former Butler Bulldog spent a few seasons in the G League with the Memphis Hustle before continuing his career overseas, playing in Italy and Turkey the past two years.

Extensions Not Expected For Hawks’ Young, Suns’ Williams

October 16th, 2025 at 9:30pm CST by Rory Maher

The Hawks will not sign star point guard Trae Young to an extension before the season begins, league sources tell Fred Katz and Joe Vardon of The Athletic.

The news doesn’t come as a surprise — Jake Fischer reported a couple months ago that the two sides weren’t expected to discuss an extension during the offseason. Katz and Vardon say the Hawks want to see how the new-look roster meshes before making a potential long-term commitment to the four-time All-Star.

Young admitted late last month that he was a little disappointed about entering training camp without an extension in place, but also said he was focused on the present and wouldn’t let the lack of a new deal be a distraction.

Young is coming off a 2024/25 season in which he played 76 games (36.0 minutes per contest) while averaging 24.2 points, a league-high 11.6 assists, 3.1 rebounds and 1.2 steals, with a shooting line of .411/.340/.875.

There’s no real urgency to extend Young from Atlanta’s perspective. While he could become an unrestricted free agent next summer if he declines his player option (worth about $49MM) for 2026/27, he will remain extension-eligible throughout the ’25/26 league year. Signing an in-season extension would also require Young to decline that option.

Whether they sign him to a rookie scale extension before Monday’s deadline or re-sign him as a restricted free agent in 2026, the Hawks feel good about their chances of retaining Most Improved Player winner Dyson Daniels, according to Katz and Vardon.

In other extension news, John Gambadoro of Arizona Sports 98.7 cautions (via Twitter) not to expect a rookie scale deal for Suns center Mark Williams. The former Duke big man has frequently been injured over his first three seasons, appearing in a total of just 106 games, and Phoenix appears likely to use ’25/26 to evaluate his fit after acquiring him in a summer trade with Charlotte.

Fischer reported last week that the Suns were considered unlikely to sign Williams to an extension. If no deal is reached, the 23-year-old would be a restricted free agent next summer, assuming he’s given a qualifying offer.

Injury Notes: Sabonis, George, Williams, Bailey, Vanderbilt

October 16th, 2025 at 9:46am CST by Luke Adams

The Kings fell to 0-3 during the preseason on Wednesday with a loss to the Clippers. More concerning than the defeat was the fact that star center Domantas Sabonis exited the game midway through the third quarter and was ultimately ruled out for the rest of the night due to what the team called a right hamstring issue, per Jason Anderson of The Sacramento Bee (subscription required).

Sacramento already projects to be shorthanded in the frontcourt when the regular season begins next week, with forward Keegan Murray sidelined due to thumb surgery. It’s unclear whether or not Sabonis’ injury is serious enough to jeopardize his availability for the start of the season — head coach Doug Christie said after the game that he didn’t have a concrete update yet on the big man’s status.

“Listen, your star player goes down, you never want to see that, period,” Christie said, according to Anderson. “I can’t speculate on what it is. Hopefully it’s nothing. We have some time before the first game, but those are the things you just don’t want to see. But it’s part of what we do. It’s the same thing with Keegan. As unfortunate as it is, it’s just part of our game.”

We have more notes on injuries from around the NBA:

Sixers forward Paul George continues to make progress in his recovery from offseason knee surgery. Head coach Nick Nurse told reporters on Wednesday that George has advanced to participating in live, full-court three-on-three drills, as Derek Bodner of PHLY Sports relays (via Twitter). It’s the first time the veteran forward has taken part in live action this fall.
There’s a belief in Phoenix that center Mark Williams will be available for opening night after not playing at all in the preseason, says John Gambadoro of Arizona Sports 98.7 FM (Twitter link). The Suns big man has been playing 5-on-5 and will get the opportunity to take part in a few more scrimmages before the team’s opener next Wednesday. Gambadoro adds (via Twitter) that he doesn’t expect Jalen Green (hamstring) to miss more than two or three games at the start of the season unless he experiences another setback.
Rookie forward Ace Bailey has been ruled out for the Jazz‘s preseason finale on Thursday due to bilateral knee tendinopathy, tweets Andy Larsen of The Salt Lake Tribune. Head coach Will Hardy downplayed the issue earlier this week, so there’s no indication at this point that Bailey won’t be ready when the regular season tips off next Wednesday.
Lakers forward Jarred Vanderbilt was ruled out of the second half of Wednesday’s preseason game vs. Dallas due to a left quad contusion, according to Dan Woike of The Athletic (Twitter link), who says the injury appeared to occur when Vanderbilt got kneed in the thigh. Vanderbilt is hoping to play a key role for L.A. this season after being limited to 65 total outings over the last two regular seasons due to health issues.

Warriors, Lakers Top 2025 NBA Franchise Valuations

October 16th, 2025 at 8:48am CST by Luke Adams

The Warriors are still the NBA’s most valuable team, according to Kurt Badenhausen of Sportico, who unveiled the website’s updated NBA franchise valuations for 2025 on Thursday.

Badenhausen projects the Warriors’ value at $11.33 billion, which represents an incredible 24% increase from last year’s $9.14 billion valuation. The NFL’s Dallas Cowboys, at $12.8 billion, continue to be the only global sports franchise whose valuation comes in higher than Golden State’s, according to Sportico’s projections.

As Badenhausen outlines, the Warriors lead the NBA in revenue by a significant margin, having generated an estimated $833MM last season. Golden State makes more than $5MM per game in ticket revenue, along with $2.5MM from luxury suites; the club also has a $45MM per year jersey patch deal with Rakuten, earns almost double what any other team makes in sponsorship revenue, and is one of the few teams to fully own and operate its arena, per Sportico.

After placing third a year ago, the Lakers have jumped to second place on Sportico’s 2025 list at $10 billion, based on Mark Walter‘s recent agreement to purchase the team at that valuation. The Lakers moved slightly ahead of the third-place Knicks, who come in at $9.85 billion.

Every team’s valuation has increased by at least 9% since last year, per Sportico, with the average value of an NBA franchise now at $5.51 billion (up 20% from 2024) and no team worth less than $4 billion.

The average valuation has more than doubled since 2022, when it was $2.58 billion. As Badenhausen writes, the NBA’s new $76 billion media rights deal and its global ambitions – including the possible creation of a league in Europe – have played a part in those gains.

Although the Warriors’ $833MM is something out of an outlier, NBA teams generated an average of approximately $408MM in revenue last season, according to Badenhausen, with the Grizzlies coming in last at $301MM. Memphis also ranks 30th on Sportico’s list of franchise values.

Despite placing at the bottom of this list, the Grizzlies actually had the most significant increase in their franchise valuation this past year, rising from $3.06 billion to $4 billion (31%). The Pelicans (30%), Timberwolves (29%), and Eastern Conference champion Pacers (27%) were the other biggest risers.

Of course, it’s worth noting that figures from Sportico or any other media outlet are just estimates and often don’t quite match up with the sale prices for franchises that change hands. But these projections are usually in the right ballpark and remain useful for getting a sense of the league’s most and least valuable teams.

Here’s Sportico’s full list of NBA franchise valuations for 2025:

Golden State Warriors: $11.33 billion
Los Angeles Lakers: $10 billion
New York Knicks: $9.85 billion
Los Angeles Clippers: $6.72 billion
Boston Celtics: $6.35 billion
Brooklyn Nets: $6.22 billion
Chicago Bulls: $6.12 billion
Miami Heat: $6.03 billion
Philadelphia 76ers: $5.61 billion
Houston Rockets: $5.53 billion
Dallas Mavericks: $5.24 billion
Toronto Raptors: $5.22 billion
Phoenix Suns: $5.09 billion
Atlanta Hawks: $5.02 billion
Sacramento Kings: $5 billion
Cleveland Cavaliers: $4.86 billion
Denver Nuggets: $4.8 billion
Washington Wizards: $4.78 billion
Indiana Pacers: $4.76 billion
Milwaukee Bucks: $4.54 billion
San Antonio Spurs: $4.5 billion
Oklahoma City Thunder: $4.34 billion
Utah Jazz: $4.27 billion
Portland Trail Blazers: $4.25 billion
Minnesota Timberwolves: $4.24 billion
Orlando Magic: $4.21 billion
Detroit Pistons: $4.17 billion
Charlotte Hornets: $4.13 billion
New Orleans Pelicans: $4.02 billion
Memphis Grizzlies: $4 billion

As Badenhausen notes, Sportico’s projections are based on a control sale price, rather than limited stake purchases. Controlling shares in the Celtics, Lakers, and Trail Blazers all changed hands this past year, though only the Celtics sale has been formally approved by the NBA so far.

William Chisholm is buying the Celtics in two stages, with an initial valuation of $6.1 billion and a blended valuation of roughly $6.5 billion. Walter is purchasing the Lakers at a valuation of $10 billion, while Tom Dundon is buying the Blazers at a $4.25 billion valuation.