The NFL is holding free agency like the NBA does in the summer of 2024. Clubs are taking advantage of the rules to get themselves into better roster-building or financial situations. The Brooklyn Nets currently lead the pack with nearly $45 million in available cap space. In the other conference, the Philadelphia 76ers will be preparing for a much more understated summer after winning the Paul George sweepstakes. The San Antonio Spurs and Phoenix Suns aren’t immune either, having faced their own fiscal disasters. These scenarios would literally change the game and greatly color their thinking in the next few months.
We know that free agency dynamics are interesting, more nuanced, and quite complicated. Teams such as the Oklahoma City Thunder and Washington Wizards are preparing to make aggressive moves! This article breaks down how these various squads are formulating their summer game plan. They’re doing this by considering their fiscal outlooks and labor contracts.
Brooklyn Nets Set to Make a Splash
The Brooklyn Nets are sitting pretty as they approach free agency. They currently sit at about $45 million under the cap to play with. That hefty sum gives them the wiggle room to woo that elite prize free agent or cash in on a franchise-altering trade.
With a focus on building a competitive roster, the Nets are expected to explore multiple avenues to enhance their team. This is surprising given the wealth of their available funds. This makes them a major player in the free agency market, allowing them to go after big name players looking for new contracts.
“I will double down on how we’re not going to expedite anything,” – Jeff Peterson.
The Nets are being careful. They will look closely at alternatives before making hasty decisions. As we get into the summer, we will closely watch to see how they target their dollars in smart and impactful ways.
Financial Strategies Across the League
League-wide, clubs have been taking varying approaches depending on their budgetary constraints. Teams like the Philadelphia 76ers, for example, are expected to have a much louder summer — after landing their own star Paul George in 2024. If they’re really committed to keeping their existing roster, they won’t be big players in free agency, either.
The San Antonio Spurs have been able to set up Victor Wembanyama’s first-round rookie deal to fall exceptionally well. This allows them to retroactively recover pay without the budgetary limitations. Consequently, they greatly increase their odds of successfully executing competitive moves over the course of the offseason.
Yet, they are tagged with a $16 million cap hit each year for five years due to an un-named player’s contract. This extended financial obligation would preclude them from any deals to bring new talent this summer, which they might otherwise be able to do.
Key Player Movements and Future Prospects
Moving forward, a few teams have done an impressive job of setting themselves up for the future. The Denver Nuggets have a virtually worthless first-round pick they can use in either 2031 or 2032. They have Michael Porter Jr., their biggest bargaining chip that can be used to pry someone away from a different team.
Of all the teams, the Los Angeles Lakers have the most intriguing assets. They have the first-round pick they can swap for either 2031 or 2032, plus more than $70 million in expiring contracts. This dynamic combination gives them a ton of flexibility as they look at possible trades and free agent additions.
On the other end of this spectrum, the Washington Wizards and Atlanta Hawks plan to use over 100% of their boosted traded player exemptions. Aside from getting their legs under them, the Wizards really are actively pursuing CJ McCollum and Kelly Olynyk. At the same time, the Hawks are trying to land Kristaps Porzingis. These tactical decisions are indicative of a larger movement among teams to use their resources in the most strategic way possible during this vital period.
For example, the Oklahoma City Thunder have $35 million in cap space. This provides them the opportunity to attract key free agents or even complete trades that will significantly bolster their roster. The Detroit Pistons and Memphis Grizzlies are testing tiered approaches. They can denounce their free agents or complete sign-and-trade deals to gain more monetary leeway.
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