While the season may be over, NBA free agency has kept the excitement going following the conclusion of the playoffs. The start of the 2025 NBA free agency has been a whirlwind of activity, marked by a mix of historic contract extensions, players switching teams, and franchises striving to remain competitive next season. Just two days into it, the NBA world has witnessed some notable shifts, and there may be more moves to come.

To keep you up to date, BET.com came up with The Biggest Takeaways From NBA Free Agency.

The Thunder Gave Shai Gilgeous-Alexander The Biggest Bag In NBA History

After winning the MVP and leading the Oklahoma City Thunder to the franchise's first championship, Shai Gilgeous-Alexander signed a four-year, $285 million supermax contract extension. The record-setting deal will make him the player with the highest single-season average salary in NBA history, projected to be around $71.25 million annually. When the extension kicks in for the 2027-28 season, he’ll be signed with the Thunder through the 2030-31 season. Without question, SGA is worth every penny. Along with Gilgeious-Alexander, the Thunder signed Jaylin Williams to a three-year, $24 million contract extension.

Questions Surrounding LeBron James’ Future With Lakers

Heading into his 23rd season in the league, LeBron James chose to opt into his $52.6 million player option with the Los Angeles Lakers for the 2025-26 NBA season. The deal means he will remain with the Lakers for at least one more season, and he’ll earn the highest single-season salary of his career. Following the announcement of the deal, Rich Paul, James' agent, stated that many took it as a warning to the Lakers to do everything possible to contend for a championship.

"LeBron wants to compete for a championship," Rich Paul told ESPN. "He knows the Lakers are building for the future. He understands that, but he values a realistic chance of winning it all. We are very appreciative of the partnership that we've had for eight years with Jeanie [Buss] and Rob [Pelinka] and consider the Lakers as a critical part of his career.”

As of this writing, the Lakers have not signed a starting center and have only signed forward Jake LaRavia to a two-year, $12 million contract. There is speculation that DeAndre Ayton will sign with the Lakers after he clears waivers. We’ll be watching what’s happening in “La La” land.

The Rockets Refueled Their Squad And Are Now Top Contenders In The Western Conference

After being the number two seed in the Western Conference last season, the Houston Rockets have reshaped their entire roster to compete for the championship. Before free agency commenced, the Phoenix Suns traded superstar Kevin Durant to the Rockets for Jalen Green, Dillon Brooks, and the No. 10 pick in the 2025 NBA Draft. If that wasn’t enough, Dorian Finney-Smith left the Lakers and signed with the Rockets on a four-year, $53 million deal, and signed Clint Capela to a three-year, $21.5 million deal. Combining playoff-tested veterans and young players on the rise, the Rockets are positioned to be a force to be reckoned with next season.

The Bucks Are Doing Everything They Can To Keep The “Greek Freak”

For the last several years, Giannis Antetokounmpo has hinted that he may leave Milwaukee Bucks if the front office does not demonstrate a commitment to building a contender. This offseason, the Bucks made a significant transaction with the hope of keeping the “Greek Freak.” On Tuesday (July 1), the Bucks waived All-Star Damian Lillard, who will miss the 2025-26 season with a torn Achilles, and signed Myles Turner, who is leaving the Indiana Pacers after 10 years, to a four-year, $107 million deal. To make room for Turner, the Bucks will pay Lillard $113 million by stretching the contract over five years. In what was easily the most shocking move in free agency so far and the largest buyout in NBA history, the Bucks hope that the transaction was enough to keep Antetokounmpo in Milwaukee.

The Atlanta Hawks Made Several Shrewd Moves To Bolster Their Team

Along with the Bucks, many NBA pundits believe that the Atlanta Hawks have had one of the best offseasons. They acquired Kristaps Porzingis in a three-team trade with the Boston Celtics and Brooklyn Nets. The Hawks also acquired Alexander-Walker in a sign-and-trade with the Minnesota Timberwolves on a four-year, $62 million deal and Luke Kennard on a one-year, $11 million deal.  Seeking to build a formidable team around superstar guard Trae Young, the Hawks will be one of the teams to keep your eyes on next season.

The Indiana Pacers Take A Major Step Back

After losing Tyrese Haliburton for next season due to a torn Achilles and Myles Turner to their rivals, the Milwaukee Bucks, the Indiana Pacers will have a difficult time making it back to the NBA Finals. Less than a month after playing in Game 7 of the NBA Finals, the Pacers now find themselves faltering. The Pacers may have something up their sleeves.