NBA free agency may be losing its juice, as extensions new name of game

If NBA free agency felt dull this summer, you are not imagining it.

Albert De Roa of HoopsHype pointed out that even with a 10 percent salary-cap spike, there was no 2025 free agent worthy of a max deal. The biggest new payday went to Timberwolves sixth man Naz Reid, hardly the type of splash fans expect in July.

Instead, teams are putting their money into extensions. According to De Roa, more than 62 percent of the guaranteed money handed out this offseason has come from deals to keep stars in place. The top nine contracts all went to players re-upping with the same team.

Oklahoma City alone locked in nearly $764 million for Shai Gilgeous-Alexander, Chet Holmgren and Jalen Williams, a trio that just delivered a championship. That’s more than half of the guaranteed money league-wide for the entire free-agent class.

Among players who had the option to actually switch teams, only Reid and Kyrie Irving managed to crack the top 12. Myles Turner was the lone player to change teams on a deal worth more than $100 million guaranteed.

And it may not get more exciting next year. De Roa noted that Trae Young tops HoopsHype’s 2026 free-agent list, but he is not viewed as the type of franchise-changer free agency once delivered. He could also sign an extension and come off the board before then.

If that happens, Kevin Durant would take the top spot. But Durant is reportedly on track to extend with the Rockets. Which means we could be looking at LeBron James once again being the most coveted free agent in 2026, sixteen years after The Decision.

Here’s a look at the largest deals handed out this offseason, per HoopsHype:

• Shai Gilgeous-Alexander, $285.4M

• Chet Holmgren, $239.3M

• Jalen Williams, $239.3M

• Paolo Banchero, $239.3M

• De’Aaron Fox, $228.6M

• Jaren Jackson Jr., $205M

• Luka Doncic, $165.3M

• Mikal Bridges, $150M

• Devin Booker, $145.3M

• Naz Reid, $125M

• Jabari Smith, $122M

• Kyrie Irving, $118.4M