A week before the 2025 NBA trade deadline, the basketball world seemed to be destined for a snoozer with minimal activity and contenders only making moderate moves. That all changed on Saturday night with the shocking Luka Doncic trade, opening the floodgates to a week that will go down in NBA history. While making big moves doesn’t guarantee on-court success, with in-season trades often not making a huge impact until the following season, the magnitude of these deals could change that. Let’s dive into our winners and losers from the NBA trade deadline.
Winner: San Antonio Spurs and Victor Wembanyama
The San Antonio Spurs didn’t land the best player moved at the NBA trade deadline, but they did land their All-Star guard without giving up any real long-term value. It certainly helps that De’Aaron Fox essentially forced his way to San Antonio, but that doesn’t change the fact that the Spurs front office wiped the floor with the Sacramento Kings in negotiations.
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The Charlotte Hornets first-round pick in 2025 is really two second-round picks and the Spurs’ 2027 first-round pick is likely going to be outside the top-22 selections. San Antonio also landed Fox without moving any of Stephon Castle, Devin Vasseell or Jeremy Sochan. Now, those young pieces can be used in another blockbuster trade down the line. Fox, age 27, is an excellent fit with Victor Wembanyama and he’ll sign a contract extension to stay there for years to come. This was highway robbery by the Spurs’ organization and one more blockbuster move within the next year likely puts this team in championship contention.
Loser: Dallas Mavericks GM Nico Harrison
Business should never be personal. Dallas Mavericks general manager Nico Harrison evidently let his personal feelings about Luka Doncic get in the way of logic and sound basketball operations. Exclusively negotiating a Doncic trade with the Los Angeles Lakers, not even allowing 29 other NBA teams to negotiate thus forcing Los Angeles to offer more, is GM malpractice. Allowing Lakers GM Rob Pelinka to increasingly lower his offer by using Harrison’s personal issues with Doncic against the Mavericks is embarrassing.
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What’s worse? Harrison was seemingly ignorant of how beloved Doncic was in Dallas and by the fan base. The Mavericks general manager clearly believes he’s the smartest person in the room, but everyone else around the NBA seems to find him a fool. This decision will eventually get Harrison fired and trading away a money-maker like Doncic is a glaring red flag that no other team owner will probably want running their business.
Winner: Los Angeles Lakers
As the saying goes, never look a gift horse in the mouth. The Los Angeles Lakers played Dallas Mavericks general manager Nico Harrison like a fiddle, when they knew in reality they were prepared to make a trade for Luka Doncic the moment it was proposed. While the deal doesn’t make the Lakers a true championship contender this season, its impact will last for years to come.
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Once LeBron James retired, one of the most iconic franchises in sports didn’t have a new superstar waiting in the wings. With all due respect to Anthony Davis, he already proved to Los Angeles he could never be that guy. Now, the Lakers have a 25-year-old franchise icon. There’s little doubt he’ll eventually sign a long-term deal, becoming a household in the second-biggest media market in the United States. The business side of this deal in itself is a big win. Best of all, the Lakers kept a majority of their first-round picks and can now build around a young superstar who carried his last team to the NBA Finals. Plus, Doncic gets to spend the next year-plus being mentored by LeBron James.
Loser: Sacramento Kings
It’s not entirely the Sacramento Kings fault’ they are considered losers at the NBA trade deadline. After all, Fox took away a lot of their negotiating leverage by pushing for a trade to San Antonio. However, that’s where the excuses end for this franchise.
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Zach LaVine has been a very good player this season, borderline All-Star caliber, but the Kings needed young players and quality future first-round picks. However, team owner Vivek Ranadive has been infatuated with LaVine for at least seven years now and wanted a quality player so the team could be relatively competitive to keep attendance steady. The Kings front office – which had a long history of promising Fox trades to improve the roster that never happened – also deserves a ton of blame. Bad organizations stay bad for a reason.
Winner: NBA’s long-term growth
In the months leading up to the NBA trade deadline, one of the biggest discussion points was NBA TV ratings. The game’s popularity seems to be declining and while loyal observers might not like seeing Luka Doncic in a Lakers uniform, the casual fan and general observer matter most when it comes to NBA TV ratings and increasing the league’s popularity.
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Doncic eventually taking over the throne in Los Angeles is huge for the NBA moving forward. With increased TV ratings comes higher revenue, which also goes into the pockets of players. Plus, the Spurs landing another All-Star as they ascend back up the NBA hierarchy matters. the NBA is the biggest winner this week.
Loser: Khris Middleton
Three-time All-Star Khris Middleton goes from a Milwaukee Bucks team poised to reach the playoffs to the worst team in the NBA in the eight-win Washington Wizards. He’s still making $31.6 million this season, but now he’ll have a tough decision to make on whether to accept his $34 million player option next season while playing for a last-place Wizards team.
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Winner: Miami Heat
Pat Riley and the Miami Heat front office successfully ended their two-month standoff with Jimmy Butler, securing valuable assets in return. The Heat receive Andrew Wiggins, a one-time All-Star who played a crucial role in Golden State’s 2022 championship run, plus a protected first-round pick. By holding out for the best deal, Miami maximized its return.
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Loser: Golden State Warriors
Several questions cloud this move for the Golden State Warriors. Can Butler, at age 35, push the Warriors over the top? Will he accept a secondary role to Stephen Curry after being Miami’s alpha? The Warriors’ decision to give Butler a reported massive two-year, $121 million extension through his age-37 season is risky, especially given the stacked Western Conference competition.
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Winner: Jimmy Butler
Jimmy Butler got exactly what he wanted: an exit from Miami, a chance to compete alongside future Hall of Famers Stephen Curry and Draymond Green, and a reported two-year, $121 million extension keeping him in Golden State through 2026-27.
Related: 8 Winners/Losers After Miami Heat Trade Jimmy Butler To Golden State Warriors In Blockbuster Deal
Loser: Phoenix Suns
Once considered favorites to land Butler, the Phoenix Suns’ aggressive moves—including trading their unprotected 2031 first-round pick for three future first-rounders—proved futile. Bradley Beal’s no-trade clause complicated matters, and they dangled Kevin Durant in trade talks but didn’t move him. It’s fair to question the Suns’ future is from here on out.
Winner: New Orleans Pelicans
The New Orleans Pelicans essentially knew Brandon Ingram wasn’t going to re-sign with them this summer, so they got a jump start on their rebuild. The Pelicans sent Ingram to the Toronto Raptors for Bruce Brown Jr., Kelly Olynyk, a first-round pick, and a second-round pick. New Orleans were able to get draft assets and got two contracts in Brown and Olynyk that are easily movable.
Winner: Jonas Valančiūnas
Jonas Valančiūnas went from the worst team in the league in the Washington Wizards to a team that is vying for a playoff spot in the Sacramento Kings. Yes, the Kings traded away Fox, but they are 25-25 and currently ninth in the Western Conference as the NBA Trade Deadline has expired. As for Valančiūnas, he’s officially out of purgatory.
