NBA free agency 2025: Live updates, news, rumors as Thunder extend Jalen Williams, Devin Booker deal breaks record

NBA free agency continues with most top players signed, but key decisions remain for Damian Lillard, Chris Paul, Jonathan Kuminga, and Quentin Grimes. Recent moves include the Oklahoma City Thunder securing Jalen Williams with a maximum extension potentially worth $287 million, following earlier deals with Shai Gilgeous-Alexander and Chet Holmgren to maintain their championship core.

The league set the 2025-26 salary cap at $154.647 million, a 10% increase from last season. Notable transactions include Jaren Jackson Jr.'s five-year, $240 million extension with Memphis, Denver trading Michael Porter Jr. to Brooklyn for Cam Johnson, Dorian Finney-Smith joining Houston, Ty Jerome signing a three-year deal with Memphis, and Dallas agreeing to a two-year contract with D’Angelo Russell.

LeBron James exercised his $52.6 million option with the Lakers, aiming to compete for championships while the team builds for the future. James Harden re-signed with the Clippers, and Julius Randle stayed with Minnesota. These developments follow earlier major trades: Phoenix sent Kevin Durant to Houston for Jalen Green, Dillon Brooks, and the 10th draft pick, while Boston traded Jrue Holiday to Portland and Kristaps Porziņģis to Atlanta.