NBA 2025/26: Biggest Moves of the Offseason So Far

The Thunder’s maiden title run last season—capping Indiana’s underdog dreams in the Finals—was an absolute thriller from the get-go. The Pacers, just as they had done throughout their entire postseason run, managed to remain in contention right until the very end, only for disaster to strike in game seven. Down went superstar and talisman Tyrese Haliburton, and with him, he took his side's hopes of claiming the Larry O'Brien trophy.

As the 2025 offseason progresses, online NBA odds providers are still hot on OKC. The latest Bovada NBA odds make the reigning champions a short-priced +265 favorite to successfully go back-to-back, and considering their slew of draft picks in the coming years, their dominance could well continue for a long time. However, despite the ominous presence of the Thunder, the rest of the league has been doing its utmost in the offseason to narrow the gap.

Ambitious executives, restless stars, and franchises teetering between hope and uncertainty have already set about redrawing the league’s map, some more successfully than others. Here are our four biggest offseason moves thus far.

Kevin Durant's Record-Breaking Move to Houston

Sometimes the numbers tell the whole story. Seven teams. Six players. A dozen second-round picks. The deal that sent Kevin Durant, a two-time Finals MVP who is still a walking 25-6-5 at age 37, to the Houston Rockets, who were on the rise, was unlike anything the NBA had ever seen. In order to combine Durant with a playoff-tested core that was already knocking at the door in the spring, the Space City team traded Jalen Green and Dillon Brooks, the No. 10 draft pick (who later became the intriguing center prospect Khaman Maluach), and a number of choices to Phoenix.

For the Rockets, the timeline is now. Last season’s 56-win squad—precocious, electric, but punchless in decisive stretches—lacked exactly what Durant provides: unguardable late-game offense and an ice-cold playoff temperament. His 49.9% career field goal percentage and all-world shot creation instantly eradicate their crunch-time woes. And don't overlook the fit—head coach Ime Udoka now helms a roster with the experience and depth to challenge the champion Thunder, Jokic's Nuggets, the LeBron x Luka-powered Lakers, and the entire Western elite.

Kristaps Porzingis: Atlanta’s Giant Gamble

The best moves are often the most daring, and perhaps no acquisition epitomizes risk-versus-reward quite like Atlanta’s bet on Kristaps Porzingis. Snared from Boston in a three-team chess match, the Latvian brings to the Hawks a statistical profile that would make any analytics staff drool: 19.5 points per game, 6.8 rebounds, and a career-best 41.2% shooting from deep last season. At 7’3", he’s an anomaly—towering rim protector with stretch-five capabilities and championship-winning pedigree.

For the Hawks, this is about maximizing Trae Young’s prime. Porzingis’ gravity unlocks Atlanta’s offense, giving Young enviable pick-and-pop and rim-running options. With Dyson Daniels— the league’s Most Improved Player—promising forward Jalen Johnson, and 2024 No. 1 pick Zaccharie Risacher, Atlanta boasts a young nucleus desperate to break out of postseason purgatory.

Yet every silver lining comes with a shadow. Porzingis missed more than half of last season and, if injury bites again, the Hawks’ house of cards could tumble. The cost, though—losing little core talent for potentially game-changing upside—makes this a wager worth making. For Boston, moving Porzingis (and, in a separate deal, Jrue Holiday) frees as much as $180 million in penalties and opens the path to reload for the next era of Celtics basketball, especially after Jayson Tatum’s Achilles injury upended their immediate outlook.

Dallas Bets the Franchise: Cooper Flagg, No. 1 and the Future

In the city where the shadows of Dirk Nowitzki and, to a lesser extent, Luka Doncic still loom, the Mavericks found the face of their next era. Cooper Flagg, Duke’s do-everything phenom, didn’t so much fall to Dallas as crash the party—his staggering college line (19.2 PPG, 7.8 RPG, 2.4 SPG) and multi-positional game made him the consensus top pick by draft night.

With their Slovenian former hero now a distant memory, the Mavs desperately sought a foundational star, and in Flagg, they get both present impact and future upside. The rookie's rangy defense, quick-twitch athleticism, and offensive polish instantly plug glaring holes; he and Kyrie Irving, audacious as that pairing sounds, give Dallas a runway back into relevance.

But every rebuild is a double-edged sword. Flagg faces the crucible of expectation—rookie struggles, nightly assignments against All-Stars, the weight of a storied franchise. For Dallas, however, this is the blueprint. Splash big, think long-term, and pray the basketball gods have a soft spot for boldness.

@bovada_official Cooper Flagg debuts for Duke tonight...

Portland Reunite Holiday and Lillard

Some teams chase stars, others chase stability. The Trail Blazers are betting on both after years of vacillating between rebuilding and relevance. One of the best perimeter stoppers and leaders in the game, Jrue Holiday, arrives in Portland from Boston in exchange for Anfernee Simons. The Blazers surrender youth for gumption, a move projected to accelerate the timetable for their budding core.

And then there’s the ultimate homecoming: Damian Lillard, waived in an eyebrow-raising move by Milwaukee, returns to his spiritual base. The risk is obvious—Lillard is 35, rehabbing an Achilles, and signed to a mammoth contract. Yet his symbolic return, no-trade clause in tow, is a shot of adrenaline for a restless fan base and a locker room thirsting for identity. Will the Blazers’ twin infusion of veteran resolve fast-track a playoff charge—or simply buy time as the young guns mature?