A few weeks ago, a league executive told me to expect a relatively quiet trade deadline, one without a blockbuster deal. There were too many cap restrictions, more buyers than sellers on the market, and a general pessimism about deals getting done.
He could not have been more wrong. This week, a tsunami of massive trades washed over the league: Luka Doncic was traded to the Lakers for Anthony Davis, a deal that stunned everybody, including Doncic and Davis; De’Aaron Fox was traded to San Antonio to team up with Victor Wembanyama; and, after a lot of drama, Jimmy Butler was traded to Golden State to team up with Stephen Curry.
It was an intense week. Who were the big winners and losers at the NBA trade deadline? Let’s break it down.
WINNER: The NBA
For the second year in a row, the biggest names in sports media flocked to Super Bowl Radio Row — and were forced to talk about NBA trades. Media personalities who expected to be focused on whether the Chiefs can stop the “tush push” were suddenly discussing how Luka Doncic and LeBron James might work together and whether Jimmy Butler gives Stephen Curry a legit shot at a title.
The NBA needed this. Too often this season, the discussion of the league — especially from those with political motives or who don’t like the modern style of play — focused on old-school ratings. Those people missed the point, and this week, the power of the NBA as a sports and entertainment force was on full display. It was a good week for the NBA.
WINNER: Los Angeles Lakers
How do things like this just fall in the Lakers’ laps? Lakers’ exceptionalism for the win.
Lakers GM Rob Pelinka had the GM of a team with a 25-year-old, top-three player in the world pull him aside and ask, “How would you feel about trading for our star?” To Pelinka’s credit, he recognized what was happening, didn’t overthink it, and ultimately pulled the trigger on the trade — he somehow even got Dallas GM Nico Harrison to take just one first-round pick (and no Dalton Knecht in the deal, either). It was a steal of a trade for the Lakers, even with Anthony Davis as the price. If the price had been both first-round picks and Knecht to get this trade done, Pelinka still should have done it without hesitation.
Instead, he used that reserved 2031 pick and Knecht to land Mark Williams, a center who is a perfect fit for Doncic’s style of play (as long as Williams and his troublesome back stay healthy, not a given but worth the risk).
With these trades, the Lakers moved up to the second tier in the West — and maybe higher than that (I still have questions about the defense of a Doncic and Austin Reaves backcourt, and is Williams the rim protector who covers that up?). The Lakers now at least have a puncher’s chance against Oklahoma City — not to mention Boston and Cleveland out East — and we couldn’t say that a week ago.
LOSER: Phoenix Suns
Phoenix didn’t lose at the trade deadline because they couldn’t pull off a trade for Jimmy Butler, it’s how the whole thing went down that put them in this category.
Phoenix traded away its most valuable asset — an unprotected 2031 first-round pick — sending it to Utah to break it up into three first-round picks, likely all in the 20s (the 2025 one is Cleveland’s pick, so likely 28-30). The only reason to make that pick exchange is because other trades that require first-round picks for multiple teams are lined up — but the Suns didn’t have those trades in the bag. Nothing came to pass. So the Suns ended up with lesser picks, one of which they used to get off Jusuf Nurkic’s salary.
With no Butler trade happening, the Suns suddenly pivoted and started listening to trade offers for Kevin Durant — which “blindsided” Durant. KD ended up throwing cold water on a return to the Bay Area trade, but the entire saga left weird and uncomfortable vibes around the team. Durant didn’t ask for a trade heading into the deadline, but it may be a different story this summer after this deadline (he is extension eligible this summer). In the end, the Suns are 25-25 with one of the most expensive rosters in the league, and they didn’t do anything to change any of that.
WINNER: Jimmy Butler
Jimmy Butler got what he wanted — to get paid.
The entire saga in Miami started because Pat Riley wouldn’t offer Butler the contract the star thought he deserved last summer. To rub salt in the wound, Riley said at an end-of-the-year press conference: “That’s a big decision on our part to commit those kinds of resources unless you have somebody who’s going to be there and available every single night. That’s the truth.”
Riley should have traded Butler within a week of that press conference — based on Butler’s history in Minnesota and Philadelphia, everyone knew what was coming. Instead, Riley stood his ground, and it became an ugly battle of egos between Riley and Butler.
In the end, Butler got what he wanted. He got traded to the Golden State Warriors and signed a two-year, $121 million extension with them.
Butler got the payday he wanted. He won and won big.
WINNER: Cleveland Cavaliers
Cleveland isn’t a winner because they got De’Andre Hunter (although I am higher on the two-way wing than most and think he’s a quality wing upgrade for the Cavaliers). Getting that upgrade while getting under the luxury tax is brilliant, though.
Cleveland wins because it has the best record in the NBA and still made a bold move to push all their chips into the middle of the table and try to win a ring now. It may or may not work out, but you’ve got to respect the effort. The Celtics didn’t make a big move (they just saved money trading Jaden Springer). Oklahoma City didn’t do anything of note at the trade deadline either (but they get Chet Holmgren back, that counts for something). However, the Cavaliers were not afraid to take the big swing. Give them credit.
LOSER: Khris Middleton
It’s nothing Middleton did, it’s not his game or anything within his control.
But Middleton was traded from Milwaukee, the No. 4 team in the East (where he once won a ring) to the worst team in the NBA by far, the Washington Wizards. That’s a harsh change of reality.
