Day 1 of NBA free agency (2024)

The 2023 NBA free-agency negotiating period opened at 6 p.m. ET on Friday to a flurry of deals. Most notably:

• Fred VanVleet will sign with the Houston Rockets for a reported three years and $130 million.
• Draymond Green agreed to re-sign with the Warriors (four years, $100 million with a player option).
• Kyrie Irving will go back with the Mavericks for three years and $126 million, with a player option in Year 3.
• Tyrese Haliburton and Desmond Bane agreed to maximum rookie extensions with Indiana and Memphis, respectively.

Catch up here with news, analysis and more from The Athletic's NBA staff.

Required reading

• Recapping Day 1 of free agency
• John Hollinger's top 25 free agents
• Why James Harden’s reunion with Daryl Morey in Philadelphia went south and what’s next in their looming divorce
• For daily free-agency news from Zach Harper and Shams in your inbox, get The Bounce

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(Photo: Darren Yamash*ta / USA Today)

This five-year maximum extension that could be worth up to $260 million depending on the level of the 2024-25 salary cap cements Tyrese Haliburton as the franchise pillar in Indiana. His All-Star appearance this season might have done that, but this contract speaks it even louder. He gives the Pacers a clear-cut player to build around for the first time since they traded Paul George. It is a resounding return in a deal that sent Domantas Sabonis away to Sacramento. Indiana jumped out to a surprising start last season as Haliburton ascended in his first full season with the Pacers, and they have already sought reinforcements this offseason with Bruce Brown. Haliburton should be the face of the Pacers for years to come.

(Photo: Jason Miller / Getty Images)

In total on Day 1, the Pistons received: Joe Harris (career 43 percent 3-point shooter), Monte Morris (from the great city of Flint and career 39 percent 3-point shooter), $2 million and an extra second-round pick.

All they gave up are the rights to Balša Koprivica.

Miami is trading Victor Oladipo to Oklahoma City, league sources tell The Athletic.

In the Bulls’ pursuit of a lead guard, they came up with Lonzo Ball light on the opening day of free agency Friday.

After agreeing with the former Milwaukee Bucks guard and Maywood, Ill., native on a reported three-year, $20 million contract, the Bulls secured stability at the point guard position. It’s a signing that is as sensible as it was swift.

Carter, 27, figures to follow Patrick Beverley in a long list of players the Bulls have tried plugging in as a functional replacement for Ball, who will miss next season while recovering from knee surgery. But it’s Carter, not Ayo Dosunmu, Coby White, Alex Caruso or Beverley, who most resembles Ball.

Carter, listed at 6 foot 1, doesn’t supply Ball’s elite positional size and length. But with his mix of 3-point shooting and perimeter defense, Carter is as close the Bulls have gotten to replicating what Ball brought on both ends.

Whether he’s a poor man’s Ball or merely a better version of Beverley, it’s clear the Bulls will benefit from adding Carter.

It’s shaping up for Carter to enter a training-camp battle for the starting job with White, who is returning on a three-year, $33 million contract, and potentially, Dosunmu, a restricted free agent.

Shooting was one, an area considered non-negotiable from conversations between new head coach Ime Udoka and Rockets brass. Defensive versatility, an aspect sorely lacking, was another. But most importantly, Houston needed a point guard. It needed a stabilizing presence. A leader. A connector.

Enter Fred VanVleet. The 29-year-old point guard reached an agreement to sign with Houston on Friday, team sources told The Athletic. The Rockets landed their top free-agent target on the market and, more importantly, finally signed a veteran at the most important position in basketball and their obvious gaping hole.

"I think it's a position of need," former ESPN broadcaster Jeff Van Gundy told The Athletic recently. "They need a point guard and competitor. He would bring the right experiences, level of toughness and care factor that's so critical into turning around the losingest franchise in the league over the last three years."

Houston's offensive showings over the past two seasons, despite having an array of players with upside and moments here and there, lacked cohesion and control. The Rockets' best attempts at shoring up playmaking duties involved trading for Kevin Porter Jr. and converting him to a lead ballhandler in addition to drafting Alperen Şengün. At times, although few and far between, it looked like it could work — Şengün’s natural unselfishness and court vision paired with Kevin Porter Jr’s underrated and improving passing. But as stated, those moments were fleeting. The Rockets largely operated within a mess that was largely the fault of former head coach Stephen Silas, but in reality, it was a roster issue.

(Photo: Troy Taormina / USA Today)

At the NBA trade deadline, the Raptors painted themselves into a corner. On Friday, with free agency opening, they paid for it in two different ways.

In February, they were on the periphery of the Play-In Tournament when they dealt for free-agent-to-be Jakob Poeltl. Sure, the roster, if you believed in its merits, needed a rim protector in the worst way. Poeltl also added a presence rolling to the basket that opened up the floor for others — most notably Fred VanVleet. With VanVleet and Gary Trent Jr. having the option to choose free agency this summer, though, adding another core player set to hit the market was risky.

On paper, it would be nip/tuck to retain all three players, if that is indeed what the Raptors chose to do. The move certainly wasn’t worth it for the in-season results, as the Raptors bowed out in a home Play-In game. Even if you were more optimistic about what the Raptors could do with a proper centre, their offensive shortcomings had their ceiling fixed pretty low for 2022-23.

It also meant that, with even the slightest bit of market unpredictability, things might work against them in the summer. That took shape Friday, as the Houston Rockets agreed to terms with VanVleet on a three-year, $130 million deal. The Raptors kept Poeltl, agreeing to a four-year, $80 million deal, but the Raptors now have a massive hole on their roster and no sure-fire way to fill it for the long term. In the interim, the Raptors reportedly agreed to a two-year, $26 million contract with Dennis Schröder, who spent last year with the Lakers.

Wizards are trading guard Monte Morris to the Pistons, league sources tell The Athletic.

(Photo: Stephen Gosling / Getty Images)

In what may be one of the most minor trades on the first day of free agency ever, the LA Clippers sent cash considerations to the Detroit Pistons tonight for the rights to former Florida State center Balša Koprivica, who played as a reserve in his native Serbia last season. It gives the Clippers a third player with draft rights, joining 2019 draft pick Vanja Marinković of Serbia and 2006 draft pick Vladimir Veremeenko of Belarus; Veremeenko hasn't played since 2021.

For now, it's a minor asset that the team could repurpose at a later date. Probably not tonight, although everyone is anticipating movement on a potential James Harden transaction.

The Clippers also decided to extend 2021 second round pick Jason Preston's contract guarantee date from July 7 to July 18. That gives Preston the entire Las Vegas Summer League to help the Clippers make a decision on him. Preston was highly regarded as one of the best passers in the draft by LA's front office, as president of basketball operations Lawrence Frank put only lottery pick Josh Giddey ahead of Preston in that category.

But Preston's rookie season was a wash after foot surgery to repair a freak injury suffered right before training camp, and Preston was mothballed in the G-League this past season. Fellow 2021 second round pick Brandon Boston Jr.'s contract is guaranteed, and the Clippers traded for 2021 Nuggets 1st round pick Bones Hyland in February. The stakes are high for Preston as the Clippers look to evaluate their young talent headed into a critical offseason.

The Wizards’ phones are likely busy tonight, as the dust settles on the first night of free agency. Washington still has three legit point veteran point guards – Monte Morris, Tyus Jones and Delon Wright – each on expiring contracts, with none making more than Jones’ $14 million for next season.

Multiple playoff teams and contenders that didn’t get in on Fred VanVleet or Kyrie Irving or Chris Paul, and can’t trade for Malcolm Brogdon, should be calling Washington. Minnesota already did earlier this week, without success.

Kuzma netted his long-awaited, and well-earned, payday: a deal worth as much as $102 million total, according to ESPN.

But there is a potential downside, at least from Washington’s perspective: Although the Wizards almost certainly will not contend for a playoff spot in 2023-24, they just might be good enough to approach mediocrity. As the Wizards already know all too well, mediocrity is dangerous territory, especially for a club in the early stages of a rebuild.

More changes likely are in the offing. It’s difficult to envision the Wizards entering the season with point guards Tyus Jones, Monté Morris and Delon Wright all on the roster.

Still, a starting five of Jones or Morris or Wright at point gurd, Jordan Poole at shooting guard, Deni Avdija and Kuzma at the forward spots and Daniel Gafford at center — with a bench that includes Corey Kispert, Bilal Coulibaly and Landry Shamet — might be good enough to win at least 25 games next season.

Free agent Derrick Rose has agreed to a deal with the Memphis Grizzlies, league sources tell The Athletic. Rose will sign a fully guaranteed two-year, $6.5 million deal with the Grizzlies, league sources said.

Some of the restricted free agent situations may take longer to play out, but I count only eight significant unrestricted free agents left:

1. D'Angelo Russell
2. Dillon Brooks
3. Brook Lopez
4. Christian Wood
5. Kelly Oubre
6. Max Strus
7. Donte DiVincenzo
8. Russell Westbrook

The Raptors have agreed to terms with Dennis Schröder, per ESPN. The deal is reported to be worth $26 million over two years, or the full non-taxpayer mid-level exception.

This is not a perfect fit. Schröder shot just 32.4 percent on catch-and-shoot 3s last year, and the Raptors are a team who put the ball in the hands of their playmaking forwards – Pascal Siakam and Scottie Barnes – plenty. He gives the Raptors some necessary explosiveness off the dribble, but the geometry in the half-court offense is going to be complicated. With Fred VanVleet, a vastly superior shooter, it already was.

The move means the Raptors' spending power is very limited the rest of the way. One wonders if they might dangle Thaddeus Young, who has still not been officially waived, or Chris Boucher and some draft equity to Washington for either Monte Morris or Delon Wright, both of whom are on expiring contracts.

(Photo: Thearon W. Henderson / Getty Images)

When the Wizards did not trade Kuzma before the last season’s trade deadline, executives from rival teams assumed Washington and Kuzma had an understanding that the franchise would re-sign him in unrestricted free agency.

But when Tommy Sheppard was fired in April, and was later replaced by Michael Winger and Will Dawkins, that raised the question if Kuzma would remain. Subsequent trades of Beal and Porziņģis raised the possibility that Kuzma would sign elsewhere with Washington not receiving any players or draft capital in return.

Kuzma valued his time in Washington, because under coach Wes Unseld Jr., Kuzma was able to expand his offensive game.

It’s unclear if Winger and Dawkins envision Kuzma remaining with the franchise for the duration of the new contract. At the very least, the Wizards would be able to trade Kuzma in the future — and it appears that his new contract will be at a salary reasonable enough that a trade would be doable.

When a team rebuilds, it’s often a major teardown in which the team races to the bottom. But with Kuzma set to return, and with Jordan Poole also on the roster, will the Wizards be too good to ensure a bottom-three regular-season record — and the more favorable lottery odds that would come with a bottom-three record?

Read more here.

(Photo: Patrick Smith / Getty Images)

Truthfully, the Dallas Mavericks’ decision to re-sign Kyrie Irving happened in February. As first reported by The Athletic, Irving has agreed to a three-year, $126-million deal to stay with the Mavericks, which can officially be signed on July 6.

It was always the likeliest scenario that Irving would have minimal interest from other teams, the terms of his deal would be three years and Dallas would offer him enough money to satisfy Irving’s willingness to return while wanting to avoid the money of a maximum salary. All of those things proved to be true. If Irving’s contract is structured with eight percent raises, the Mavericks will have the non-taxpayer midlevel exception and most of the bi-annual exception available.

The exact structure of Irving’s deal may depend on whether Dallas fully uses both exceptions, with it possibly being more front-loaded if Dallas doesn’t use them, at least not fully. But that remains to be seen.

Dallas traded for Irving to re-sign him. Nothing about the team’s catastrophic collapse last year made the franchise second-guess that decision, and the front office even agreed to a player option on the third year. It would have been just as catastrophic as this past season to let Irving walk for nothing one year after Jalen Brunson departed in unrestricted free agency in that manner.

Whether Irving was the right team-building maneuver for Dallas, well, that’s another question. But the decision to re-sign him, always expected, was one that the team was internally committed to upon coughing up Spencer Dinwiddie, Dorian Finney-Smith, a 2029 first-round pick and two second-rounders in 2027 and 2029.

Read more here.

It is maybe overstated that VanVleet was Kyle Lowry’s heir apparent, but he was evidence of the Raptors’ excellent developmental system. He went from undrafted to winning the 15th roster spot to beating out a veteran for a backup spot to key piece on a championship team to starter to All-Star. Credit to VanVleet, who put in that work, but the Raptors helped him along the way.

Now, the player who hit some of the biggest shots in the championship-clinching game of the 2019 Finals is gone.