Re-Grading Every NBA Team's 2023 Offseason Trades so Far
The one-quarter mark of the 2023-24 NBA season has come and gone, which makes this the perfect time to revisit every team's offseason trades.
Stats and team performance tend to stabilize right around now, so new additions should be settled in and the adjustment periods largely complete. Some rotations may still change, and certain acquisitions—like the ones that have missed time due to injury—could be subject to premature judgment. But for the most part, it's fair to evaluate how June and July trades look in the cold light of December.
Saddled with full rosters and focused instead on free agency and the draft, the New Orleans Pelicans and Toronto Raptors sat out the offseason trade market. They won't appear here.
Everyone else is subject to this grading survey. May the red pens be merciful.
Atlanta Hawks
1 of 28
Grade: C-
Trades:
- Acquired Rudy Gay and a future second-round pick from the Utah Jazz for John Collins
- Acquired Usman Garuba, TyTy Washington Jr. and two future second-round picks from Houston Rockets for draft rights to Alpha Kaba in four-way deal (Dillon Brooks sign-and-trade from Memphis to Houston)
- Acquired Patty Mills from the Oklahoma City Thunder for TyTy Washington Jr., Usman Garuba, Rudy Gay and a 2026 second-round pick
- Acquired No. 39 pick (Mouhamed Gueye) in 2023 draft from Boston Celtics for 2027 second-round pick
John Collins is hitting his threes but is on pace to set a career low in two-point percentage and has been a fairly damaging defender for the Utah Jazz, validating the small return the Atlanta Hawks received for the 26-year-old forward. It's still fair to criticize Atlanta for failing to move Collins when his value would have been much higher, but it's also clear that his poor performance in recent seasons for the Hawks wasn't the kind that would turn around with a change of scenery.
Patty Mills has logged a grand total of 22 minutes on the season in Atlanta's crowded backcourt, and one wonders whether it would have made more sense to retain either TyTy Washington Jr. or Usman Garuba. Both players inked two-way deals with other teams—Garuba with the Golden State Warriors; Washington with the Milwaukee Bucks—and bring much more upside than Mills.
From a pick perspective, Atlanta netted out with one extra second-rounder and the No. 39 selection, which became Mouhamed Gueye, a big man from Washington State who has been out since mid-November with a back injury.
In all, the Hawks shuffled through several players in multiple trades, got an underwhelming package for Collins and somewhat curiously punted on younger prospects in favor of Mills. Atlanta didn't make any catastrophic mistakes, but it's hard to view its series of trades as a clear positive.
Boston Celtics
2 of 28
Grade: A
Trades:
- Acquired Kristaps Porziņģis, 2023 first-round pick (No. 25), 2024 first-round pick (via GSW; top-four-protected) in three-team trade sending Marcus Smart to Memphis Grizzlies
- Acquired Jrue Holiday from Portland Trail Blazers for Robert Williams III, Malcolm Brogdon, 2024 first-round pick (via GSW), 2029 first-round pick (unprotected)
- Acquired 2024 second-round pick (via SAS), 2025 second-round pick swap (via DAL), 2030 second-round pick (via DAL) in three-team sign-and-trade sending Grant Williams to Dallas Mavericks
- Acquired No. 31 (James Nnaji) and future second-round picks from Detroit Pistons for No. 25 (Marcus Sasser); sent Nnaji to Charlotte Hornets for No. 34 (Colby Jones) and No. 39 (Mouhamed Gueye); sent Jones to Sacramento Kings for 2024 second-round pick (via DAL) and Gueye to Atlanta Hawks for 2027 second-round pick
Get caught up in the details of the Boston Celtics' wheeling and dealing to move down in the draft and secure future second-rounders if you want, but know that you're missing the real meat of a title favorite's offseason meal.
The Celtics built the league's best top six by turning Marcus Smart into Kristaps Porziņģis and later flipping Malcolm Brogdon and Robert Williams III to the Portland Trail Blazers for Jrue Holiday. Those two add even more defensive heft to Boston's starting lineup, and KP's long-range shooting allows for true five-out looks that are virtually impossible to defend.
Perhaps most critically, the Celtics got off contracts for three players in Smart, Brogdon and Williams who have either declined substantially, gotten hurt...or both. Smart, in particular, must have been a difficult piece to move given his importance to the culture in Boston. And it's easy to forget the injury concerns that made Porziņģis an intriguing acquisition, but certainly not one without some red flags.
The Celtics acted boldly, hoping to go from very good to great by sacrificing multiple rotation pieces (don't forget declining to match Grant Williams' offer sheet with the Dallas Mavericks) in the interest of assembling an elite set of six starting-caliber studs.
The early returns are promising. Boston has the best record in the East and the top net rating in the league.
Brooklyn Nets
3 of 28
Grade: B+
Trades:
- Acquired a $20 million trade exception from the Detroit Pistons for Joe Harris, 2027 second-round pick (via DAL), 2029 second-round pick (via MIL)
- Acquired future draft considerations from the Houston Rockets for Patty Mills and a 2028 second-round pick (via MIL)
Joe Harris hasn't played for the Detroit Pistons since Nov. 5 due to a right shoulder strain—maybe one of the injuries you'd least like to see from a right-handed sharpshooter—and Patty Mills is nowhere near the rotation in Atlanta. Those two facts improve the look of the Brooklyn Nets' offseason, which was principally focused on cutting cash ahead of re-signing restricted free agent Cameron Johnson to a four-year, $94.5 million contract.
Injury issues are nothing new for the 32-year-old Harris, who lost nearly all of 2021-22 to ankle issues and wasn't quite himself last season. Still a premium shooter when healthy, Harris' scoring average and three-point accuracy have trended down four years running. Mills, 35, was another player who didn't quite fit the youth movement in Brooklyn.
It always feels a little icky to praise teams owned by billionaires for saving money, and it's easier to justify moves that return live bodies. But the Nets secured a healthy trade exception that won't expire until July 2024 and banked some future seconds by moving off two players that didn't figure in their future. This wasn't a standard salary dump either, as the savings essentially went to Johnson on his new deal. If Brooklyn winds up using that TPE from the Harris swap, there'll be no room to criticize anything it did on the trade front.
Charlotte Hornets
4 of 28
Grade: B-
Trades:
- Acquired No. 31 (James Nnaji) from the Boston Celtics for No. 34 (Colby Jones) and No. 39 (Mouhamed Gueye)
James Nnaji was the fifth-youngest player in the 2023 draft and will stay overseas with Barcelona until the Charlotte Hornets buy out his deal, which expires in 2027. The 6'11" big man is still extremely raw and profiles as a mostly paint-bound center (which is to say he's very much the Hornets' type), but he showed some flashes of potential during NBA Summer League play.
In 17.6 minutes, Nnaji averaged 6.8 boards and 2.2 blocks, putting some impressively disruptive sequences on film. It's impossible to gauge how long it'll take a 19-year-old currently anchored to the bench overseas to develop, but there's no denying Nnaji has some intriguing defensive skills.
The prudent thing to do would be to acknowledge that neither Colby Jones nor Mouhamed Gueye has had enough time to show anything either, and that it's too early to evaluate Charlotte's lone offseason trade. But Nnaji's upside seems legitimate, so let's stay positive until we get information that forces us to adjust.
Chicago Bulls
5 of 28
Grade: C+
Trades:
- Acquired No. 35 (Julian Phillips) from the Washington Wizards for a 2026 second-round pick and a 2027 second-round pick
As a result of their only offseason trade, the Chicago Bulls now have no second-round picks until 2028. What they do have in Julian Phillips, a member of the SEC All-Freshman team while at Tennessee, is uncertain.
Phillips is averaging just 4.8 minutes across 13 games, though he's seen some first-half playing time of late. The 6'8" wing already looks like he's overqualified for the G League and could see a major uptick in days spent and minutes logged with the Bulls if the franchise moves Zach LaVine to trigger a teardown. But it's generally not a great idea to use small-sample G League numbers as an evaluative tool.
We'll acknowledge Phillips' athleticism, defensive potential and strong G League showing and assume he'll be more valuable than the pair of seconds Chicago surrendered to get him. That's far from a certainty, but we're trying to avoid peppering these grades with copouts and "TBD"s unless we absolutely have to.
Cleveland Cavaliers
6 of 28
Grade: A-
Trades:
- Acquired Max Strus from the Miami Heat in three-team sign-and-trade, sending Cedi Osman, Lamar Stevens and a 2030 second-round pick to the San Antonio Spurs, and a 2026 second-round pick to Miami
- Acquired Damian Jones from the Utah Jazz for cash considerations
Max Strus seemed like one of the offseason's most logical acquisitions from the moment the Cleveland Cavaliers landed him, and nothing that's happened since changes that evaluation.
Cleveland needed a knockdown shooter sandwiched between the Darius Garland-Donovan Mitchell backcourt and the Evan Mobley-Jarrett Allen frontcourt, and Strus has filled the void by drilling 36.2 percent of his 7.7 long-range attempts per game.
Cleveland expected the shooting, but Strus' ability to connect the offense as a playmaker is a welcome surprise. His 3.9 assists per game nearly double his previous career high.
Lineups including Cleveland's Big Four have performed better with Strus as the fifth man than those with Caris LeVert or Isaac Okoro in that spot, and it's hard to imagine where the Cavs, who've been somewhat disappointing overall, would be without their new small forward. According to Dunks and Threes' Estimated Wins metric, Strus has provided more value than Allen, Garland, LeVert and Okoro, trailing only Mitchell and Mobley for the team lead.
Much of the analysis covering Cleveland's first-round playoff collapse last spring focused on Mobley's struggles to finish in a crowded lane, an issue indivisible from the team's broader lack of spacing. Strus provides plenty of that, plus the ability to bend defenses by moving off the ball, with the added bonus of capable defense against matchups Garland and Mitchell can't handle.
Dallas Mavericks
7 of 28
Grade: A-
Trades:
- Acquired Grant Williams from the Boston Celtics in a three-team sign-and-trade, sending a 2025 second-round pick swap and a 2030 second-round pick to the Boston Celtics, plus a 2030 first-round pick swap to the San Antonio Spurs. Dallas also received a 2025 second-round pick from the Spurs (via TOR) and a 2028 second-round pick from the Spurs (via MIA)
- Acquired the No. 12 pick (Dereck Lively II) from the Oklahoma City Thunder for the No. 10 pick (Cason Wallace) and Dāvis Bertāns, generating a $17 million trade exception
- Acquired Richaun Holmes and the No. 24 pick (Olivier Maxence-Prosper) from the Sacramento Kings for cash considerations, absorbing Holmes' salary into the $17 million TPE
The simplest way to frame the Dallas Mavericks' series of trades? They added two starters—one of whom, Williams, is shooting 40.6 percent from deep, and another, Lively, who's been their best defensive player since his opening-night start—for the No. 10 pick, a handful of second-rounders, a distant first-round swap and Dāvis Bertāns' essentially dead salary.
The Holmes acquisition has been a bust, as the veteran center is a distant fourth on the big-man depth chart when Maxi Kleber is healthy (and possibly fifth if Williams slides over to center). But if Maxence-Prosper eventually amounts to something, even the move that looks underwhelming now could age well.
Dallas' defense has mostly stunk this season. It ranks 21st in points allowed per 100 possessions. Knowing that, it's tempting to dismiss Lively's impact on that end. But he's been the main reason the Mavs are just outside the top 10 in limiting opponent rim attempt frequency. When you note the Mavs' defensive rating is 8.8 points per 100 possessions lower with Lively in the game, the idea that he's not making a difference loses a lot of steam.
Dallas passed on Cason Wallace, who might become a better pro than Lively in the long run. But the big man is a cleaner fit and has so far made a bigger impact than any rookie center has a right to.
Denver Nuggets
8 of 28
Grade: B-
Trades:
- Acquired No. 37 (Hunter Tyson), a 2024 first-round pick and a 2024 second-round pick from the Oklahoma City Thunder for a 2029 first-round pick
- Acquired No. 29 (Julian Strawther) and No. 32 (Jalen Pickett) from the Indiana Pacers for No. 40 and a 2024 first-round pick
The Denver Nuggets had to play the asset-management game this past offseason, surrendering their own 2029 first-rounder in a two-trade package that brought in three players they could cheaply secure with rookie-scale contracts. Of that trio, Julian Strawther has so far looked most like a keeper.
A 6'7" wing who came in billed as a deadly catch-and-shoot threat, Strawther has only hit 34.7 percent of his deep attempts but has shown glimpses of the kind of player he can become. Comfortable firing on handoffs and coming up toward the wing around screens, Strawther has the kind of dynamic shooting skill that should fit well in Denver's offense. That's part of the reason he's played significantly more than either Jalen Pickett or Hunter Tyson, and he's done well in a bigger role amid several injuries to starters.
Strawther shot 8-of-19 from deep and posted minute totals in the teens during Denver's four-game winning streak from Nov. 26 to Dec. 1. In a Dec. 11 win over Atlanta, he drilled a career-high six treys and snagged five steals.
The Nuggets would probably be happy to get a single long-term rotation player out of their three rookie additions, and it looks like they may have one in Strawther. It's far too early to make judgments on Pickett and Tyson, but if one or both of them hits over the next couple of years, it will have been well worth surrendering that distant first-rounder.
Detroit Pistons
9 of 28
Grade: D
Trades:
- Acquired Monte Morris from the Washington Wizards for a 2027 second-round pick
- Acquired No. 25 (Marcus Sasser) from the Boston Celtics for No. 31 (James Nnaji) and two future second-round picks
- Acquired Joe Harris, a 2027 second-round pick (via DAL) and a 2029 second-round pick (via MIL) from the Brooklyn Nets for cash considerations
The Detroit Pistons have made a habit of keeping veterans around during their rebuild. So their acquisitions of Monte Morris and Joe Harris felt on-brand and, at the time, defensible. Morris, who's been a high-end backup at the point for several years, was supposed to provide a steadying influence for the team's young core, organizing the offense when the 20-somethings inevitably got a little too wild. Harris was supposed to bring spacing that would relieve the pressure on Detroit's developing guards and bigs.
So much for that.
Morris has yet to play due to a quad injury, and Harris, sidelined for a month with a right shoulder injury, is shooting 31.6 percent from long range. Their nonexistent and poor performances, respectively, certainly aren't the reason the Pistons have already lost 20 in a row. But it's nonetheless true that Detroit has gotten absolutely nothing from its two vets so far.
Marcus Sasser might be the saving grace here, as he established himself in the rotation early in the year. Though he's cooled off significantly and has lost time with Alec Burks returning, the rookie point guard has had sterling moments. He has a pair of 20-point games, is hitting 39.1 percent from downtown and has spent more time ahead of Jaden Ivey in the backcourt pecking order than most Pistons fans would prefer.
Golden State Warriors
10 of 28
Grade: A-
Trades:
- Acquired Chris Paul from the Washington Wizards for Jordan Poole, Patrick Baldwin Jr., Ryan Rollins, a 2030 first-round pick (top-20 protected), a 2027 second-round pick and cash considerations
- Acquired No. 57 (Trayce Jackson-Davis) from the Washington Wizards for cash considerations
Chris Paul's 51.2 true shooting percentage is a career worst by a mile, which shows the 38-year-old hasn't been a perfect addition to the Golden State Warriors. Or at least it seems that way until you note that CP3's plus-8.2 on-off differential is the highest on the team among players who've seen at least 300 minutes—a list that includes Stephen Curry, Klay Thompson, Andrew Wiggins, Kevon Looney, Dario Sarić, Jonathan Kuminga, Moses Moody and Draymond Green.
Paul has come off the bench without issue and solved what used to be the Warriors' most persistent problem: dramatically losing the minutes when Curry is off the floor. If the four-time champs could only figure out how to stop getting smashed when the starters are in the game—a shocking development considering the first unit was the most effective high-usage lineup in the league last year—they'd really be in business.
The key outgoing piece in the Paul trade, Jordan Poole, performed in a manner that was indistinguishable from sabotage last year and has been even worse for the Wizards this season. He's shooting 40.5 percent from the field and 29.4 percent from three-point range while continuing to play a brand of defense that doubles as performance art. If the Warriors had gotten off his four-year, $128 million deal for nothing in return, it would have been a solid move.
Landing a helpful veteran whose own contract is non-guaranteed for 2024-25 puts this one over the top.
Houston Rockets
11 of 28
Grade: B+
Trades:
- Acquired Patty Mills and a 2028 second-round pick (via MIL) from the Brooklyn Nets for future draft considerations
- Acquired Dillon Brooks from the Memphis Grizzlies in a five-team sign-and-trade that sent Patty Mills and three second-round picks (2024, 2029, 2030) to the Oklahoma City Thunder; Usman Garuba, TyTy Washington Jr. and two future second-round picks to the Atlanta Hawks; Josh Christopher to the Memphis Grizzlies and KJ Martin to the LA Clippers
Dillon Brooks refuses to cool off, both in demeanor and shooting accuracy. His uptick in scoring efficiency is at least as welcome to the Houston Rockets as the brash, outspoken style that may have had something to do with his departure from Memphis.
One wonders whether the Grizzlies would have been so quick to part ways if Brooks, long an ace defender, had shot 46.2 percent from the floor and 39.6 percent from deep for them.
There's a financial aspect to Houston's big move, as it had to hand the 27-year-old $86 million over four years as part of the sign-and-trade agreement. Brooks has been well worth that number so far, especially considering the Rockets really only gave up a bunch of second-rounders and players that a) weren't part of the core, and b) haven't impressed with their new teams to get him.
Brooks may yet pop off in media availability, get himself T'd up a few too many times and perhaps even poke a few bears. And he'll definitely shoot worse as the season progresses.
For now, he's been everything the Rockets expected and then some.
Indiana Pacers
12 of 28
Grade: C
Trades:
- Acquired Obi Toppin from the New York Knicks for two future second-round picks
- Acquired a 2028 second-round pick (via DAL) and a 2030 second-round pick from the Sacramento Kings for Chris Duarte
- Acquired No. 8 (Jarace Walker), a 2028 second-round pick (via PHX) and a 2028 second-round pick (via WSH) for No. 7 (Bilal Coulibaly) in the three-team Bradley Beal trade
- Acquired No. 47 (Mojave King) from the Los Angeles Lakers, a 2024 first-round pick from the Oklahoma City Thunder (via DEN) and cash considerations for No. 29 (Julian Strawther), No. 32 (Jalen Pickett) and No. 40 (Maxwell Lewis) in a four-team trade
Two things are simultaneously true for the Indiana Pacers. The first: They're one of the most exciting breakout teams in the league. The second: None of their offseason trades have much to do with it.
We have to keep that dichotomy in mind as we evaluate Indy's busy offseason.
Obi Toppin was a cheap acquisition from the Knicks, and his athletic open-floor game fits cleanly into the Pacers' style. A regular starter, Toppin is averaging an easy career high with 12.7 points per game. That said, his total ineffectiveness as a defender is one of the main reasons Indiana ranks 28th in points allowed per 100 possessions. He's the only Pacers starter with a negative on-court net rating, and all the damage is happening on the defensive end.
Two second-rounders is a dirt-cheap price for a starter, but Toppin isn't helping Indy's bottom line enough to rate as more than a break-even acquisition.
Ditto for Jarace Walker, a theoretically sound fit as a smallish, defense-first power forward with ball skills. It's early, but Walker hasn't been in the rotation at all—and we just highlighted Toppin's ho-hum impact at the same position. With Bilal Coulibaly impressing in Washington, the Pacers would just keep the French teenager if they had it to do over again.
LA Clippers
13 of 28
Grade: B-
Trades:
- Acquired KJ Martin from the Houston Rockets for two future second-round picks (part of five-team sign-and-trade deal that landed Dillon Brooks with the Houston Rockets)
- Acquired James Harden, P.J. Tucker, Filip Petrusev and a 2027 first-round pick swap from the Philadelphia 76ers for Robert Covington, Nicolas Batum, Marcus Morris Sr., KJ Martin, a 2026 first-round pick (least favorable of OKC, LAC and HOU; top-four protected), a 2029 first-round pick swap, a 2028 first-round pick, a 2024 second-round pick (Via IND, TOR, CLE, or UTA), and a 2029 second-round pick
The James Harden trade wasn't an offseason transaction and should therefore fall outside the purview of this exercise. But...does anyone really need a deep dive into the only other deal the LA Clippers swung, which brought on KJ Martin from Houston for a pair of future second-rounders?
Didn't think so.
Clippers lineups featuring Harden have generally been effective, as long as Russell Westbrook isn't also on the floor. On the season, the Clips' most used five-man unit (which includes Harden, Terance Mann, Kawhi Leonard, Paul George and Ivica Zubac) owns a plus-12.9 net rating. Harden has been efficient, hitting 46.3 percent of his shots from the field and 41.0 percent of his threes, though his inability to beat defenders off the dribble has trimmed his free-throw attempt rate to a career-low 4.9 per 36 minutes.
The Clippers were already close enough to all-in to justify throwing their few remaining draft assets into the deal for Harden, and the theory of adding a facilitator to lighten the playmaking load for George and Leonard makes sense. The scary part comes later, when LA will have to decide how many years and dollars to give Harden in free agency this summer.
The Sixers certainly had their reservations about those particulars, which is basically the reason Harden wound up in LA.
Does Harden make the Clippers an inner-circle title contender? Probably not. But LA has looked much better after dropping those five post-trade adjustment-period games, winning nine of its last 12. Diminished as he is, Harden is more valuable to the Clippers than the outgoing assets were.
Los Angeles Lakers
14 of 28
Grade: C+
Trades:
- Acquired No. 40 (Maxwell Lewis) from the Indiana Pacers for No. 47 (Mojave King) and cash (part of four-team trade involving OKC and DEN)
Odds are, neither the Los Angeles Lakers' No. 40 selection, Maxwell Lewis, nor Mojave King, whom they traded with cash to move up, will carve out a long and productive NBA career. Only about half of the over 300 players in NBA history selected between those two slots logged more than 100 career games, and only nine made even a single All-Star appearance.
Lewis has seen garbage-time action in 11 games for the Lakers, while King has a spot on the Indiana Pacers' G League affiliate, the Mad Ants, but hasn't played this season due to a foot injury.
From a prospect perspective, Lewis has the big-wing size and shooting track record to justify the Lakers' small move up the draft board.
Per The Athletic's Sam Vecenie: "Lewis is a good shooter, having made 35.4 percent from 3 in college. If he's open directly off the catch, it's curtains. The ball is almost certainly going in...In total, Lewis made 44.1 percent of his shots directly off the catch this past season."
At 6'7" with a 7-foot wingspan, Lewis also has a frame that suggests defensive potential. It'll be a long time before he gets a real chance at rotation minutes, but Lewis is marginally more intriguing than King, who's smaller at 6'5" and doesn't have Lewis' shooting upside.
Memphis Grizzlies
15 of 28
Grade: D
Trades:
- Acquired Marcus Smart from the Boston Celtics for No. 25 and a 2024 first-round pick (via GSW; top-four-protected), with Tyus Jones going to the Washington Wizards as part of a three-team trade
- Acquired Josh Christopher in five-team sign-and-trade that sent Dillon Brooks to the Houston Rockets
- Acquired Isaiah Todd, a 2024 first-round pick swap (worst of PHX and WSH) and a 2030 first-round pick swap (worst of PHX and WAS) from the Phoenix Suns for a 2025 second-round pick (via NOP), a 2028 second-round pic and a 2029 second-round pick
The Marcus Smart acquisition made sense in theory. In practice, it might have asked too much of the veteran guard.
With Ja Morant suspended and Dillon Brooks getting the full "Well, bye!" treatment, the Memphis Grizzlies needed someone to man the point guard spot (doubly critical with Tyus Jones going out in the trade) and take over as the team's primary perimeter stopper.
Smart has been injured for all but 11 games and struggled mightily when healthy. Memphis was 2-9 with Smart in the lineup as he posted a ghastly 53.4 true shooting percentage and turned the ball over at the highest rate of his career. The sample is far too small to proclaim Smart is washed up for good, but it's concerning that his defense slipped in 2022-23 with Boston. There's a decent chance the Celtics had an inkling that the gritty veteran's best days were behind him.
Memphis did well to secure draft upgrades in an unusual deal with Phoenix, essentially exchanging future seconds for shots at low-end first-rounders, but those gains won't offset what look like mistakes with respect to both Brooks and Smart.
Big picture: Memphis was once one of the teams best positioned to chase a star via trade. Its decision to use some of its draft capital to pursue Smart looks bad in the present and may age even worse.
Miami Heat
16 of 28
Grade: D
Trades:
- Acquired a 2026 second-round pick (via CLE) and a $7.2 million trade exception in three-team sign-and-trade with Cleveland Cavaliers and San Antonio Spurs for Max Strus, Cedi Osman, Lamar Stevens and a 2030 second-round pick
- Acquired a $9.5 million trade exception and cash considerations from the Oklahoma City Thunder for Victor Oladipo, a 2029 second-round pick and a 2030 second-round pick
The Miami Heat's offseason fell apart when Damian Lillard landed with the Milwaukee Bucks. Given the seeming certainty that the former Portland Trail Blazers star would wind up in Miami, maybe we should forgive the Heat for failing to come up with a half-decent contingency plan.
Their decision to send Victor Oladipo into the Oklahoma City Thunder's cap space (with two future seconds attached as sweeteners) was the first sign that Miami was cutting costs in anticipation of Lillard's hefty salary coming on board. The Strus sign-and-trade may have also been related to the assumption that Dame's arrival was a foregone conclusion, though it was also motivated by Miami's desire to duck the $30-40 million tax penalty for paying Strus market rates.
The Heat find ways to pluck rotation players out of thin air, with Strus being a prime example of their success on that front. But it'd be nice if they didn't have to do it so often. Misjudging their chances at getting Lillard played at least a small part in a pair of giveaway trades that weakened the supporting cast around Jimmy Butler and Bam Adebayo, sapping talent from a team that made the Finals just a few months prior.
Milwaukee Bucks
17 of 28
Grade: C+
Trades:
- Acquired Damian Lillard from the Portland Trail Blazers for Jrue Holiday, a 2028 first-round pick swap, a 2030 first-round pick swap and a 2029 first-round pick; Grayson Allen to Phoenix Suns
- Acquired No. 36 (Andre Jackson Jr.) from the Orlando Magic for a 2030 second-round pick and cash considerations
Through the first quarter of the season, it's hard to make the case that the version of the Milwaukee Bucks with Damian Lillard is any better than the one that would have had Jrue Holiday, Grayson Allen, a handful of picks and a modicum of roster flexibility. Lineups featuring Lillard have been predictably poor defensively, but Milwaukee was supposed to get so much better on offense, particularly late in games, that the step backward on D wouldn't matter.
Lillard leads the league in total clutch points, and the Bucks are plus-45 overall in 63.0 close-and-late minutes. But the team's 119.1 offensive rating with Lillard in the game is virtually the same as the 119.2 figure Milwaukee posted with Holiday on the floor last season—with substantially worse defense.
It's early. But at the very least, we're in TBD territory on the offseason's biggest trade. The Bucks offense hasn't taken the leap many expected, and the depth and defense are indisputably worse. Some part of the team's poor transition defense and persistent disorganization on both ends falls at the feet of new head coach Adrian Griffin, but the remade roster itself simply hasn't performed to expectations.
The only reason Milwaukee gets an above-average mark is because the Lillard trade probably inspired Giannis Antetokounmpo to sign his three-year max extension.
Minnesota Timberwolves
18 of 28
Grade: B
Trades:
- Acquired No. 33 (Leonard Miller) from the San Antonio Spurs for a 2026 second-round pick (via UTA) and a 2028 second-round pick
Leonard Miller has barely appeared for the Minnesota Timberwolves, but it's not that surprising that a rookie would only see action in three games for a team that has loudly announced itself as a contender. Fortunately, we've got some G League information on which to judge him.
Miller played for the G League Ignite last season, and the 6'10" forward averaged 15.1 points on 50.0 percent shooting while grabbing 8.5 boards per game. Though his rebounding is down a touch to 6.8 per game this season, Miller is pulling off the rare two-step of increasing his scoring volume and efficiency. He's up to 17.7 points per contest on 50.8 percent shooting with a significantly reduced turnover rate. Most encouraging of all, his 5.3 three-point attempts per game are well above last year's 2.9.
We're a long way from seeing Miller in the Wolves' rotation, but they only gave up a pair of distant seconds to get a guy who's delivering on the promise that caused multiple draft evaluators to rank him among the 2023 class' top 20 prospects.
New York Knicks
19 of 28
Grade: B
Trades:
- Acquired two future second-round picks from the Indiana Pacers for Obi Toppin
Obi Toppin is a valuable piece of the Indiana Pacers' high-octane transition attack and has never been a more efficient scorer, as evidenced by his preposterously high 70.3 true shooting percentage. That improved accuracy from the field stems largely from Indy's style of play, which has Toppin taking 42.3 percent of his shots inside three feet, way up from 28.9 percent with the Knicks in 2022-23.
A blur on the break and benefitting from timely cuts that Tyrese Haliburton always sees, Toppin is hitting 78.1 percent of his two-point shots.
New York didn't operate at a pace that played to Toppin's strengths and didn't figure to change, so while the 2020 No. 8 pick's rise makes the Knicks' side of the trade look a little iffy, this version of Toppin was never going to materialize in New York. And while a return of two future seconds for a former lottery pick might seem underwhelming, moving Toppin before he hits restricted free agency in 2024 ensured the Knicks wouldn't lose him for nothing.
New York's defense and rebounding are both significantly improved this season, which suggests it's not missing Toppin's impact in those areas. And if you want to view mid-level exception signee Donte DiVincenzo as a one-to-one replacement, the Knicks look even better.
DiVincenzo is posting a higher Box Plus/Minus, three-point percentage and, yes, rebound rate than Toppin is for the Pacers.
Oklahoma City Thunder
20 of 28
Grade: B-
Trades:
- Acquired a 2029 first-round pick from the Denver Nuggets for No. 37, a 2024 first-round pick and a 2024 second-round pick
- Acquired No. 10 (Cason Wallace) and Dāvis Bertāns from the Dallas Mavericks for No. 12 (Dereck Lively II)
- Acquired Patty Mills and three second-round picks (2024, 2029 and 2030) from the Houston Rockets in the five-team Dillon Brooks sign-and-trade
- Acquired Usman Garuba, TyTy Washington Jr., Rudy Gay and a 2026 second-round pick from the Atlanta Hawks for Patty Mills
- Acquired Victor Oladipo, a 2029 second-round pick and a 2030 second-round pick from the Miami Heat for cash considerations
- Acquired a 2027 first-round pick swap from the LA Clippers for a 2026 first-round pick (worst of OKC, LAC or HOU; top-four-protected)
Nobody foresaw Cason Wallace leading the league at 52.1 percent from deep (albeit on low volume) in December, but here we are. Wallace projects as a starting-caliber wing down the road, but one wonders whether OKC, which gets pushed around inside and on the boards, might look better with Dereck Lively II anchoring the paint. It may be a while until we can fairly judge the prospect-exchanging trade with Dallas.
Oklahoma City's broader plan is easier to evaluate. Taking on bad money with picks attached and turning a surplus of future selections into higher-upside options both earn high marks.
Though not technically an offseason trade, OKC's willingness to play facilitator in the James Harden deal provides an example of the team's thinking. The Thunder sent out a 2026 pick that might not be worth much (assuming they become a perennial playoff team between now and then) for a shot at an unprotected swap with the Clippers in 2027. Or, as Forbes' Bryan Toporek aptly put it: "The Thunder are trading a dime for a 10% shot at a dollar."
That's the type of bet you make when you have more future first-round picks than you know what to do with.
Orlando Magic
21 of 28
Grade: C+
Trades:
- Acquired a 2030 second-round pick and cash considerations from the Milwaukee Bucks for No. 36 (Andre Jackson Jr.)
- Acquired swap rights on a 2026 first-round pick (via PHX or WSH) from the Phoenix Suns for a 2024 second-round pick (via DEN), a 2026 second-round pick (via LAC) and a 2028 second-round pick (protected 31-45)
The Orlando Magic bet on themselves and against the 2025-26 Phoenix Suns by essentially sending out three future second-rounders for a 2026 first of indeterminate value. If the Suns fall apart between now and then, and if the Magic continue their ascent toward what feels like regular playoff appearances, Orlando could move up several spots in the first round of the 2026 draft.
Of course, if the Suns' star-heavy core is still any good two-and-a-half years from now, the swap rights might not have any value at all.
Moves like this are becoming more common, as Phoenix also swung a similar deal with Memphis, while the Spurs got swap rights on a 2030 first-rounder from Dallas for a handful of seconds. We have yet to see whether gambles like this are worth the trouble, but the low cost on Orlando's end means there's very little downside risk. It's hard to imagine Denver's 2024 second will be worth much, and the protections on that 2028 second-rounder make it a total throwaway asset.
If Andre Jackson Jr. manages to secure a rotation spot in Milwaukee at some point, maybe there'll be room to criticize the Magic's decision to move the No. 36 pick for a future second and cash. But Orlando already had two rookies on the roster and probably didn't need a third. Kicking the can down the road (and making a small wager against the Bucks being any good in 2030) checks out as logical.
Philadelphia 76ers
22 of 28
Grade: A-
Trades
- Acquired Nicolas Batum, Robert Covington, KJ Martin, Marcus Morris Sr., a 2026 first-round pick (least favorable of OKC, LAC or HOU, if 5-30), a 2028 first-round pick (via LAC), a 2029 first-round pick swap (LAC), a 2024 second-round pick (via IND, TOR, CLE or UTA), a 2029 second-round pick (LAC) from the LA Clippers in three-team trade sending out James Harden, P.J. Tucker, Filip Petrusev and a first-round pick swap (least favorable with OKC, DEN (if 6-30)
October 31 is hardly the offseason, which means the Philadelphia 76ers' only trade doesn't technically meet our criteria. Rather than skip the Sixers and ignore what was an objectively meaningful deal, we'll break the rules and grade it anyway.
It's not quite right to say the Sixers got something for nothing here, or that moving Harden was a clear case of addition by subtraction. But the results in Philadelphia to this point suggest that analysis isn't too far off base. If Tyrese Maxey continues to thrive in his expanded role, guiding the Sixers to more wins and perhaps an even deeper playoff run than they enjoyed with Harden, we may need to concede that it would have been a win to simply remove Harden from the roster.
Nicolas Batum has looked good as a glue guy, starting regularly, defending and hitting an unsustainable but surely appreciated 51.2 percent of his threes. Robert Covington and Marcus Morris Sr. have also seen rotation action with similarly strong shooting numbers. If even one of that trio features in the 76ers' eventual eight-man playoff rotation, it'll be a bonus on top of the draft capital coming from the Clippers.
Though many of them are complicated and feature protections, the picks Philadelphia secured will only increase in value as LA's aging core either declines or breaks up (or both). The unprotected 2028 first-rounder is particularly juicy, with swap rights in 2029 close behind.
Phoenix Suns
23 of 28
Grade: C-
Trades:
- Acquired Bradley Beal, Jordan Goodwin and Isaiah Todd from the Washington Wizards for Chis Paul, Landry Shamet, first-round pick swaps in 2024, 2026, 2028 and 2030 and second-round picks in 2024, 2025, 2026, 2027, 2028 and 2030
- Acquired three future second-round picks from the Memphis Grizzlies for Isaiah Todd, a 2024 first-round pick swap and a 2030 first-round pick swap
- Acquired a protected 2024 second-round pick from the San Antonio Spurs for Cameron Payne, a 2025 second-round pick (via NOP) and cash considerations
- Acquired a 2023 second-round pick (via DEN), a 2026 second-round pick (via LAC) and a 2028 second-round pick (protected 31-45) from the Orlando Magic for unprotected swap rights on a 2026 first-round pick (via PHX or WSH)
- Acquired Jusuf Nurkić, Nassir Little and Keon Johnson from the Portland Trail Blazers and Grayson Allen from the Milwaukee Bucks for Deandre Ayton and Toumani Camara in the three-team deal sending Damian Lillard to the Bucks
Bradley Beal has played just three games in his first season with the Phoenix Suns, which makes it tempting to immediately grade the blockbuster that brought him to town as a failure. It's certainly been a bust to this point. That said, we won't really know whether the Suns got a good return on their massive outlay until we see how they fare in their championship pursuit.
If Beal plays fewer than 10 games in the regular season and then factors heavily in a postseason run to the Finals, it might be correct to call the trade a success.
It's a little easier to judge the Suns' other big move, trading Deandre Ayton and Toumani Camara for a package headlined by Jusuf Nurkić and Grayson Allen. At present, Nurkić appears to be one of Phoenix's biggest weaknesses. His struggles to finish inside and his inability to defend in space or at the rim are precisely the types of frailties that bite teams in the playoffs. The bridge between Ayton and Phoenix may have already been torched, so it's not as simple as saying the Suns should have just kept the 2018 No. 1 overall pick. But it's already clear Nurkić was the wrong replacement.
Credit the Suns for committing to short-term success like few teams in league history, and don't overlook their creativity in trading shares of future swaps for second-rounders to use in smaller deals. But this team's two biggest trades look like mistakes at the moment.
Portland Trail Blazers
24 of 28
Grade: B+
Trades:
- Acquired Jrue Holiday, Deandre Ayton, Toumani Camara, a 2029 first-round pick (via MIL), a 2028 first-round pick swap (via MIL) and a 2030 first-round pick swap (via MIL) for Damian Lillard, Jusuf Nurkić, Nassir Little and Keon Johnson in a three-team trade with the Milwaukee Bucks and Phoenix Suns
- Acquired Robert Williams III, Malcolm Brogdon, a 2024 first-round pick (via GSW) and a 2029 first-round pick from the Boston Celtics for Jrue Holiday
In the end, the Portland Trail Blazers traded Damian Lillard, Jusuf Nurkić, Nassir Little and Keon Johnson for Robert Williams III, Malcolm Brogdon, Deandre Ayton, Toumani Camara, three first-round picks and two first-round swaps. The value of those future first-rounders, many of them a half-decade from conveying, will ultimately determine how well Portland did in its busy offseason—as will the return from a potential deal sending out Brogdon.
There's indisputable value in the Blazers' broad embrace of a restart, but those picks are going to have to pay off to fully vindicate this pair of deals because Williams is already out for the season with another knee injury, and Ayton hasn't had the change-of-scenery leap some expected. Of course, Nurkić hasn't exactly blown the doors off in Phoenix; Ayton looks like a more valuable trade chip, even if that's damning with faint praise.
Portland could theoretically add to the haul by flipping some or all of the players it acquired, but with the exception of Camara, few look like better assets now than when they showed up.
In the end, the Blazers had to move Lillard and did well to wait on the best possible package. Credit them for not taking the easy way out and settling for a return from the Miami Heat that probably wouldn't have measured up to what they ultimately got.
Sacramento Kings
25 of 28
Grade: C
Trades:
- Acquired No. 34 (Colby Jones) from the Boston Celtics for No. 38 (Jordan Walsh) and a future second-round pick
- Acquired cash considerations from the Dallas Mavericks for Richaun Holmes and No. 24 (Olivier Maxence-Prosper)
- Acquired Chris Duarte from the Indiana Pacers for a 2028 second-round pick (via DAL) and a 2030 second-round pick
When the Sacramento Kings cleared $12 million in cap space by moving Richaun Holmes to Dallas, it was easy to dream big. What was the team with last year's best offense up to? Now that it was toting over $30 million in potential spending power, maybe Sacramento was finally going to find a shutdown wing, bolster its defense and surge into top-tier contention.
Those dreams were dashed in short order, as the Kings used some of their newly freed-up money to renegotiate and extend Domantas Sabonis' contract, adding $8.6 million to his 2023-24 salary and then another four years and $195 million on top of that. Harrison Barnes (three years, $53 million) and Sasha Vezenkov (three years, $20 million) got the rest.
The Holmes deal seemed like a precursor to meaningful improvement, which would have earned high marks. Instead, it was a tool to maintain the status quo (and significantly overpay Sabonis)—a bit of a bummer, basically.
Chris Duarte has been in the rotation, averaging 13.7 minutes per game. But the 26-year-old wing is shooting under 40.0 percent from the field for the second season in a row and hasn't exactly overhauled Sacramento's defense.
Ultimately, the Kings aren't any worse after their series of trades this past offseason. But they're not really much better either.
San Antonio Spurs
26 of 28
Grade: B
Trades:
- Acquired a 2026 second-round pick (via UTA) and a 2028 second-round pick (via MIN) from the Minnesota Timberwolves for No. 33 (Leonard Miller)
- Acquired Cameron Payne, a 2025 second-round pick (via NOP) and cash considerations from the Phoenix Suns for a protected 2024 second-round pick
- Acquired Reggie Bullock and a 2030 first-round pick swap from the Dallas Mavericks for three future second-round picks in the three-team Grant Williams sign-and-trade with the Boston Celtics and Dallas Mavericks
- Acquired Cedi Osman, Lamar Stevens and a 2030 second-round pick (via CLE) in three-team Max Strus sign-and-trade with the Miami Heat and Cleveland Cavaliers
Cedi Osman, 28, is a solid rotation wing whose reliable three-point shooting (36.6 percent this year; 37.2 percent in 2022-23) could make him a flippable asset at the 2024 deadline. That we're discussing Osman's future trade value, and that he's the only acquisition still currently on the roster, shows you San Antonio wasn't focused on adding live bodies in its transactions this past offseason.
The Spurs' series of trades was all about using cap space to acquire draft equity by absorbing unwanted contracts. By sidling into other teams' deals and functioning as a third-party facilitator, San Antonio shuffled its supply of future second-rounders and, most importantly, exited the offseason with potentially valuable swap rights on the Mavs' 2030 first-round pick. If things go badly in Dallas at some point in the next seven years, the Spurs could benefit immensely.
Payne, Bullock and Stevens all caught on with new teams after being waived, the Spurs hoarded a few picks and everybody walked away happy. San Antonio's measured moves prove you don't have to swing blockbuster deals to have a successful offseason on the trade front.
Utah Jazz
27 of 28
Grade: C+
Trades:
- Acquired cash considerations from the Cleveland Cavaliers for Damian Jones
- Acquired John Collins from the Atlanta Hawks for Rudy Gay and a future second-round pick
John Collins' mid-career metamorphosis continues. The 26-year-old is attempting more threes per game than ever, logging over a quarter of his minutes at small forward (previous career high: 2.0 percent in his rookie season) and continuing his gradual move away from the basket on offense.
In 2017-18, Collins took 58.9 percent of his shots inside three feet. This season, that figure is a career-low 27.9 percent. Considering Collins' true shooting percentage is a personal-worst 57.3 percent, we might want to consider whether it's a good idea to suggest every player should shoot more threes.
It cost almost nothing to land a former fringe All-Star and All-Rookie second-teamer in what should be the prime stretch of his career. Though Collins hasn't proved the theory that all he needed was a change of scenery, Utah was still wise to take a low-cost flier on him. In the midst of their rebuild, the Jazz had the cap space to burn.
Collins has two more years on his deal after this one (player option in 2025-26). With early returns suggesting he's not a keeper, the Jazz can still "win" this trade if they secure something better than a second-rounder and dead salary whenever they manage to flip him. That's a low bar to clear.
Washington Wizards
28 of 28
Grade: A
Trades:
- Acquired Chris Paul, Landry Shamet, four first-round pick swaps (2024, 2026, 2028, 2030) and six second-round picks (2024, 2025, 2026, 2027, 2028 and 2030) from the Phoenix Suns for Bradley Beal, Jordan Goodwin and Isaiah Todd
- Acquired Jordan Poole, Patrick Baldwin Jr., Ryan Rollins, a 2030 first-round pick (top-20-protected), a 2027 second-round pick and cash considerations from the Golden State Warriors for Chris Paul
- Acquired Tyus Jones, Danilo Gallinari, Mike Muscala and No. 35 in a three-team deal sending Kristaps Porziņģis to the Boston Celtics and Marcus Smart to the Memphis Grizzlies
- Acquired a 2026 second-round pick and a 2027 second-round pick from the Chicago Bulls for No. 35 (Julian Phillips)
- Acquired a 2027 second-round pick from the Detroit Pistons for Monte Morris
- Acquired No. 7 (Bilal Coulibaly) from the Indiana Pacers for No. 8 (Jarace Walker), a 2028 second-round pick (via PHX) and a 2028 second-round pick (via WSH)
The mere acknowledgement that it was long past time to move on from Bradley Beal would have earned the Washington Wizards a passing grade on its own. That the Wizards actually got solid value for one of the worst contracts in the league only nudges their mark higher.
Washington will benefit whenever the Phoenix Suns' current core runs out of gas. Considering Kevin Durant's age, Beal's health history and the Suns' total lack of roster-improving resources, it's fair to assume the Wizards are going to cash in on more than one of the four pick swaps they secured for Beal.
The Jordan Poole acquisition, which required flipping Chris Paul shortly after getting him from the Suns, saddled the Wizards with what looks like another onerous contract. But the $128 million he'll collect through 2026-27 is nowhere near as problematic as the $208 million coming Beal's way in that same timeframe.
Lastly, the draft-night swap that netted Bilal Coulibaly looks like a clear win, which might matter nearly as much as the Beal deal in the long run. It's one thing to recognize the need for a teardown and proceed down that path, but it's another to begin the rebuilding process by adding actual talent. Coulibaly is a far more polished offensive product than most expected, and there's no doubting his immense defensive potential on the wing. Meanwhile, Jarace Walker is nowhere to be seen in Indy.
Stats courtesy of NBA.com, Basketball Reference and Cleaning the Glass. Accurate entering games played Dec. 12. Salary info via Spotrac.
Grant Hughes covers the NBA for Bleacher Report. Follow him on Twitter (@gt_hughes), and subscribe to the Hardwood Knocks podcast, where he appears with Bleacher Report's Dan Favale.
