The 2023 NBA offseason had barely concluded before the new collective bargaining agreement faced intense scrutiny, a sentiment that only intensified through the 2024 offseason with the introduction of the salary cap’s restrictive second apron. This new financial barrier significantly curtails high-spending teams from adding to their roster outside of their own players, prompting many to question the traditional vibrancy of free agency. Golden State Warriors forward Draymond Green further ignited this debate, asserting that the new CBA has “absolutely put an end to Free Agency as we once knew it,” lamenting the absence of the once-thrilling July 1st anticipation. His strong declaration has sparked widespread discussion across the league, challenging the very nature of the NBA offseason.
At the heart of Green’s concerns, and those of many analysts, lies the updated Collective Bargaining Agreement, particularly its stringent second apron. This mechanism penalizes teams exceeding a certain salary threshold, limiting their ability to sign free agents, utilize certain trade exceptions, or even aggregate salaries in trades. The intention, as NBA Commissioner Adam Silver has stated, is to create a more level playing field and encourage teams to build through the draft and retain their homegrown talent. However, critics argue that this focus inadvertently stifles player movement and the dramatic free agent signings that traditionally captivate fans each summer.
One immediate consequence of the new CBA has been a noticeable acceleration in player re-signings. Under the updated rules, teams can negotiate with their own free agents the day after the Finals, allowing many prominent players to ink new deals even before the official start of free agency on June 30th. This shift means that highly sought-after stars like Tyrese Maxey, Alperen Sengun, LaMelo Ball, and Anthony Edwards were off the market swiftly this year, akin to last year’s early re-signings of Jaylen Brown and Domantas Sabonis. The effect is a considerably watered-down anticipation for the traditional July 1st frenzy, as many top targets are already secured.
Further contributing to the altered free agency landscape are the revised rookie and veteran extension rules. These changes now permit players to extend their contracts for significantly more money and years with their current teams, offering a powerful incentive to prioritize long-term financial security over the inherent risks of entering the open market. This summer, a formidable roster of potential free agents including Paolo Banchero, Chet Holmgren, Victor Wembanyama, and Scottie Barnes, among others, chose to sign substantial long-term extensions rather than testing the free agent waters. This trend underscores a strategic shift for players, valuing guaranteed money and continuity with their current franchise.
NBA Commissioner Adam Silver has publicly defended the new CBA, emphasizing its core objective to empower incumbent teams. Speaking during summer league, Silver clarified, “The mechanism of the collective bargaining agreement was very clear: We are trying to give incumbent teams an advantage to draft, develop and keep players.” He acknowledged that while free agency might not manifest in its previous form, it doesn’t signify its complete demise. Silver views the phenomenon of players electing to stay in their markets as a positive outcome, aligning with the league’s broader goals of fostering stability and competitive balance, even if it means less high-profile player movement.
Despite the perception of diminished free agency, a surprising trend emerged this offseason: a 32% increase from last summer in the number of players switching teams. Out of over 150 players who signed new contracts, 19 moved to new franchises. This seemingly counterintuitive outcome is primarily attributed to two factors: an increase in teams utilizing the non-tax midlevel exception—which expanded from five to ten teams—and more flexible trade rules. For instance, Atlanta strategically acquired Dejounte Murray in a sign-and-trade deal using a prior trade exception, and then utilized a portion of their midlevel exception to sign Bogdan Bogdanovic. This indicates that while blockbuster signings are rarer, a healthy volume of player movement still occurs through alternative mechanisms.
Another notable shift under the new CBA is the near disappearance of contract bonuses. This offseason, not a single player, including high-profile names like Kyrie Irving and Julius Randle who previously had incentives, negotiated bonuses into their new contracts. This marks a stark contrast to previous years, where 23 free agents in 2023 and 2024 combined had such clauses. Teams have largely taken a stand against negotiating bonuses due to their impact on the salary cap’s apron calculations. The example of Tyler Herro’s pre-CBA extension, which included five different bonuses charging Miami a significant amount against both aprons, serves as a strong reminder of why franchises are now avoiding these incentive-laden deals.
Players like CJ McCollum have voiced concerns over the new restrictions, arguing that teams should not be “punished for drafting well.” McCollum highlighted situations akin to Oklahoma City’s, where a franchise successfully drafts and develops multiple highly talented players. He believes that teams should retain the financial flexibility to pay and retain their drafted talent without facing severe penalties from the salary cap’s second apron. This perspective underscores a key tension within the new agreement: balancing competitive fairness and team retention with the potential for stifling the growth and financial reward of successful young cores, especially as they approach their max contract eligibility.
Looking ahead, the new CBA strongly incentivizes teams to focus on drafting and developing their own talent, coupled with strategic accumulation of draft assets. The Oklahoma City Thunder, for example, exemplify this forward-thinking approach, holding a substantial surplus of 13 first-round and 16 second-round picks over the next seven years, including up to four first-rounders in the 2026 draft alone. This strategy provides them with unparalleled flexibility to build a sustainable, competitive roster within the confines of the new financial rules, signaling a potential shift in how franchises construct championship-contending teams in the post-CBA era.
