NBA Free Agency 2025 Tracker, Live Updates: Chet Holmgren Sets Floor, Paolo Banchero, Magic Agree to Extensions…read more…
As the NBA free agency period heats up, key deals are already shaping the league’s future. Two of the most pivotal moves thus far involve rising stars Chet Holmgren and Paolo Banchero—both of whom have helped set the tone for this year’s market with major contractual developments.
Holmgren, coming off a stellar sophomore season with the Oklahoma City Thunder, has reportedly agreed to a four-year, $156 million rookie max extension. His deal is viewed as a market-setter for other 2022 draftees eligible for extensions this summer. Meanwhile, in a move signaling long-term commitment, the Orlando Magic have locked in franchise cornerstone Paolo Banchero with a five-year, $225 million extension that could climb even higher with incentives and All-NBA escalators.
Let’s break down what these signings mean, what’s next for other top free agents, and the latest buzz from around the league.
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Chet Holmgren’s Extension Sets the Market
Holmgren’s agreement with the Thunder doesn’t just solidify OKC’s long-term core—it also establishes a financial baseline for the 2022 draft class. The 7-footer averaged 17.8 points, 8.9 rebounds, and 2.5 blocks last season while playing 76 games and earning All-Defensive Second Team honors.
His combination of rim protection, shooting range, and versatility made him a crucial partner to Shai Gilgeous-Alexander in Oklahoma City’s rise to Western Conference prominence. Thunder GM Sam Presti reportedly made it a priority to get the extension done early in the process to avoid distraction during training camp.
NBA executives believe Holmgren’s deal will be a reference point for players like Jabari Smith Jr., Bennedict Mathurin, and Jaden Ivey—each of whom is also extension-eligible this summer. With Holmgren’s deal now public, agents around the league have more leverage in negotiations.
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Banchero Gets His Bag – and Magic Get Their Star
Meanwhile, the Orlando Magic wasted no time in securing their franchise star. Banchero, the 2022 No. 1 overall pick and the 2023 NBA Rookie of the Year, has agreed to a max extension worth at least $225 million over five years.
The deal, which kicks in for the 2026-27 season, includes clauses that could raise the total value if Banchero makes an All-NBA team—something the 6-foot-10 forward is well on track to achieve after averaging 22.6 points, 7.3 rebounds, and 4.8 assists last season.
Magic president Jeff Weltman called the move “a milestone moment” for the franchise. “Paolo has proven to be everything we hoped for in a No. 1 pick—mature, driven, and willing to lead. He’s not just our star; he’s our foundation,” said Weltman in a statement.
The Magic made the playoffs last season for the first time in four years, and the Banchero-Franz Wagner duo appears to be the centerpiece of Orlando’s future. Locking in Banchero ensures continuity and sends a message that the Magic are done rebuilding—they’re ready to compete.
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Live Tracker: Latest NBA Free Agency Updates
Here’s a roundup of the biggest moves and rumors developing as the 2025 NBA free agency window enters its second week:
Tyrese Maxey has reportedly agreed to re-sign with the Philadelphia 76ers on a five-year, $210 million max deal. Philly plans to build around him and Joel Embiid after James Harden’s departure.
OG Anunoby is drawing strong interest from the Sacramento Kings and New Orleans Pelicans. Toronto is still in the mix to retain him, but sources say a sign-and-trade is increasingly likely.
Dejounte Murray, recently traded to the Spurs in a blockbuster deal, is expected to sign an extension once the transaction is finalized.
Brandon Ingram remains one of the most talked-about trade candidates. The Pelicans are actively gauging offers, with the Atlanta Hawks and Golden State Warriors expressing interest.
Malik Monk agreed to a three-year, $75 million deal with the Detroit Pistons, reuniting with former college teammate De’Aaron Fox, now also a Piston after a surprising trade from Sacramento.
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What Holmgren and Banchero’s Deals Mean for the League
Both extensions come at a time when teams are re-evaluating how they approach cap space and roster construction under the new collective bargaining agreement. The rising salary cap has enabled teams to make big-money commitments earlier in players’ careers, and young stars are increasingly prioritizing stability and continuity over testing free agency.
Holmgren’s deal is seen as a win-win for player and team alike. It offers the Thunder some cost certainty and avoids a potential bidding war in restricted free agency, while Holmgren gets early financial security.
Banchero’s extension, on the other hand, signals that the Magic are serious about building a winner. Locking up a player of his caliber helps Orlando become a more attractive free agent destination, something the franchise has historically struggled with.
As free agency continues, expect other young stars to finalize deals before the October deadline to avoid distractions and speculation. Players like Keegan Murray, Jalen Duren, and Dyson Daniels could all be next in line.
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What’s Next?
With Holmgren and Banchero off the board, attention now shifts to players like Lauri Markkanen, who is entering the final year of his contract with Utah, and James Wiseman, a restricted free agent still weighing offers.
Teams with cap space like the San Antonio Spurs, Houston Rockets, and Charlotte Hornets remain aggressive in the market, looking for potential trade opportunities and value deals.
In the coming days, all eyes will also be on Damian Lillard’s future in Milwaukee, and whether the Bucks can find a trade partner that satisfies both the star and the franchise.
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Conclusion
The 2025 NBA free agency period is already shaping up to be one of the most pivotal in recent memory. With Chet Holmgren and Paolo Banchero leading the way, the league’s next generation is securing its future—and reshaping the power balan
ce in the process.
Stay tuned for more updates as the market continues to evolve.
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