The first day of NBA free agency has ended and the league’s landscape has already changed precipitously.
The Heat had the splashiest day after signing former All-Star guard Kyle Lowry and defensive stalwart PJ Tucker while also re-upping with restricted free agent Duncan Robinson and All-NBA forward Jimmy Butler.
The Bulls, too, nabbed headlines after acquiring Lonzo Ball in a sign-and-trade and picking up free agent Alex Caruso.
At DraftKings, both teams’ odds to win the 2022 NBA Championship shortened considerably. Miami moved from +3500 to +2700 while Chicago’s line shortened from 100/1 to 80/1.
They were the only two teams at the sportsbook to have their futures odds change.
FanDuel shortened Miami’s odds by more than half — the Heat are now 16/1 to win it all after having been as long as 35/1 hours before the start of free agency.
The Bulls saw their odds shorten from 120/1 to 60/1 at the sportsbook.
Generally, odds shuffled all over the place at FanDuel. The Los Angeles Lakers’ odds shortened from +440 to +370; the Milwaukee Bucks’ line shortened from +850 to +800; the Golden State Warriors’ line shortened from +1300 to +1100; and the Denver Nuggets are now +1700 to win it all after having been +2400.
The only teams at the sportsbook that saw their odds worsen were the Philadelphia 76ers (16/1 to 18/1) and Atlanta Hawks (35/1 to 37/1). The Hawks’ odds dropped even amid news that Trae Young officially re-signed his five-year maximum extension worth $207 million.
Teams like the Los Angeles Clippers (+1300), Phoenix Suns (+1300) and Dallas Mavericks (+3000) saw their lines stay the same at FanDuel.
We will update this story with odds updates as players continue to be plucked out from free agency.
Below is a list of other major transactions that reportedly occurred on the first day of open business.
- Chris Paul agreed to re-sign with the Suns to a four-year contract that could be worth up to $120 million.
- Shai Gilgeous-Alexander agreed to a five-year, $172 million max extension with the Oklahoma City Thunder.
- Derrick Rose agreed to re-sign with the New York Knicks with a three-year, $43 million contract.
- Tim Hardaway Jr. agreed to a four-year, $74 million deal with the Mavericks.
- Evan Fournier agreed to a four-year, up to $78 million deal with the Knicks.
- Blake Griffin agreed to re-sign with the Brooklyn Nets for a season.
- Richaun Holmes agreed to a four-year deal with the Sacramento Kings that could be worth as much as $55 million.
- Jarrett Allen agreed to re-sign with the Cleveland Cavaliers on a five-year, $100 million deal.
- Two former Lakers reportedly returned to the team. Both Dwight Howard and Trevor Ariza agreed to one-year deals.
- Jeff Green agreed to a two-year, $10 million deal with the Denver Nuggets.
- Mike Conley agreed to re-sign with the Utah Jazz on a three-year, $72.5 million contract.
- Devonte’ Graham agreed to a four-year, $47 million sign-and-trade with the New Orleans Pelicans.
- TJ McConnell agreed to a four-year, $35 million deal with the Indiana Pacers.
- Doug McDermott agreed to a three-year, $42 million contract with the San Antonio Spurs.
- JaVale McGee agreed to a one-year, $5 million deal with the Suns.
- Nicolas Batum agreed to re-sign with the Clippers for two years.
- Nerlens Noel agreed to a three-year, $32 million deal with the Knicks.
- Cameron Payne agreed to a three-year, $19 million contract with the Suns.
- Will Barton agreed to a two-year, $32 million deal with the Nuggets.
- Alec Burks agreed to a three-year, $30 million contract with the Knicks.
- Boban Marjanovic agreed to sign with the Mavericks.
- Reggie Bullock agreed to a three-year, $30.5 million deal with the Mavericks
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