Day 1 of the 2025 Free Agency was stacked with moves, with a lot of them moving the needle in either conference, but especially in the Western Conference. The Houston Rockets re-tooled well with two major signings, while other teams, such as the Denver Nuggets, made a major change to their lineups.
Other teams simply made some early offseason mistakes, while others didn’t make any moves at all. Let’s dive into the major winners and losers of Day 1 of 2025 Free Agency, and believe us, there were some major winners.
Winners
Houston Rockets
The Rockets have wasted no time re-signing key players, Jabari Smith Jr., Fred VanVleet, Steven Adams, and eventually trading for Kevin Durant. However, adding veteran frontcourt muscle with the signing of Clint Capela (3 years, $21.5 M) and Dorian Finney-Smith (4 years, $53 M) on day one is what puts them over the top today.
These moves complement the blockbuster trade for Kevin Durant, creating a versatile, experienced roster that blends star power with depth, positioning Houston as a top Western Conference contender. They might be one more shooter away from being on par with the OKC Thunder as the favorite to come out of the West.
Memphis Grizzlies
Memphis secured Jaren Jackson Jr. with a massive five-year, $240 M extension, anchoring their long-term core. They also retained Santi Aldama and added Ty Jerome, preserving their defensive and shooting identity.
By keeping their nucleus intact, the Grizzlies have reaffirmed their commitment to contention deep into the post-Desmond Bane era. Many, including us, expected the Grizzlies to roll over and accept tanking following the Bane trade, but they are proving that they want to stay in contention moving forward.
Los Angeles Clippers
The Clippers already retained James Harden on a multi-year extension, but they have bolstered their frontcourt by signing Brook Lopez to a two-year, $18 M deal. Lopez upgrades their rim protection and stretches the floor, a smart pick-up that adds veteran IQ and versatility to their second unit, and provides backup to Ivica Zubac.
Complementing Kawhi Leonard, Norman Powell, and Harden, Lopez can be part of a solid closing lineup. He spaces the floor, brings veteran experience, and keeps the Clippers’ title window open. The Clippers also prevented the Lakers from signing him, so that’s another plus.
Atlanta Hawks
Atlanta struck early, signing Nickeil Alexander-Walker to a four-year, $62 M deal, an important backcourt addition to a much-improved roster. While Kristaps Porzingis is already on board, their day-one focus on shooting depth helps round out a roster that struggled from distance last season.
Alexander-Walker brings playmaking and spacing, which should help Porzingis operate more effectively. The Hawks also added Luke Kennard, a career 43.8% three-point shooter, so they are going for a top-4 seed in the East, and so far, we can’t put it past them to reach that level.
Dallas Mavericks
The Dallas Mavericks keep making moves in the Western Conference, and they have just added D’Angelo Russell. On paper, the Mavs are a legitimate title-contender, but we won’t automatically assume Anthony Davis and Kyrie Irving won’t play.
If Davis and Irving are healthy, Cooper Flagg dominates like we expect him to, and Klay Thompson can hit at least 38% of his threes, the Mavs are a major problem. Russell is a very capable offensive player, and if his mind is set on becoming the Sixth Man of the Year candidate, this is a great pickup for Dallas.
New York Knicks
The New York Knicks might not have had much luck in the coaching search yet, but they snagged veteran guard Jordan Clarkson in a buyout deal, a low-risk move with upside. Clarkson’s scoring off the bench adds a much-needed spark, enhances their perimeter threat, and injects playoff-tested firepower into an already balanced rotation.
The Knicks aren’t the favorites to win the East with this single move, because we still need to see who the coach will end up being, but this is a major plus for a franchise that could use another scorer to help Jalen Brunson, Karl-Anthony Towns, and even Miles McBride coming off the bench.
Losers
Milwaukee Bucks
The Milwaukee Bucks are in major trouble so far. They are praying that Giannis Antetokounmpo will somehow decide to put up with a difficult rebuild, because their roster is terrible. Damian Lillard is out with an Achilles injury, the depth chart is empty, and they won’t be competing.
The Bucks will have to cash in on Giannis as soon as possible because drama starts spilling over. They don’t want to deal with a Kevin Durant or Jimmy Butler situation, and it doesn’t make sense not to dangle their superstar player in trade talks or bring in any talent. Players have come and gone, but the Bucks haven’t done anything.
Los Angeles Lakers
The Lakers were essentially dormant on day one, only bringing in Jake LaRavia while letting go of a useful depth piece, Dorian Finney-Smith. In a cap-haunted market, this inactivity looks like a missed opportunity to reinforce around LeBron and Luka, making the roster look thin heading into next season.
Lakers fans will expect some moves this offseason because they are already worrying about Austin Reaves potentially moving on after next season, and losing a two-way player won’t be easy to stomach. Hopefully, the Lakers can target a starting-caliber big man to
Boston Celtics
Boston’s fortunes dipped after trading Kristaps Porzingis last week and also losing Luke Kornet today, replacing them only with Luka Garza ($5.5 M deal). Garza is a solid scorer off the bench but lacks ceiling and defensive presence.
With their depth chart now weakened inside, the Celtics may pay the price in the frontcourt grind of a long playoff run. Unless this move indicates that Boston is just willing to waste the 2025-26 season until Jayson Tatum returns from his Achilles Injury.
The Celtics might have to re-sign Al Horford because losing another big man means their defensive resistance will be completely gone. Remember, Jrue Holiday was also moved.
Michael Porter Jr.
Michael Porter Jr. is leaving a legitimate title-contender to head to the rebuilding Brooklyn Nets. The Nets cashed in on Cam Johnson by receiving the 27-year-old sharpshooter along with a first-round pick.
The Nuggets are losers in this specific deal, but they did add Bruce Brown on a one-year deal, so it slightly offsets the loss, but doesn’t make Porter Jr’s situation any better. He has a chance to be the go-to scorer, sure, but he has to accept being in a lottery situation rather than competing in the playoffs moving forward.
Miami Heat
The Miami Heat have held steady with no major additions or subtractions early on. After getting destroyed in the first round of the Playoffs last season, standing pat is a gamble: while continuity is valuable, other contenders are beefing up.
Fans will want to see more proactive roster improvements, and we aren’t saying it won’t happen. So far, the Heat have been quiet, and there hasn’t been much help offered to Bam Adebayo or Tyler Herro just yet.
