NBA Trade Deadline 2026: Live Updates, Key Intel, and Major Storylines

The 2025-26 NBA season has reached its most critical juncture as the February 5th trade deadline rapidly approaches. Following the seismic Trae Young trade from Atlanta to Washington, the league's landscape has shifted dramatically, setting the stage for what could be one of the most active trade periods in recent memory. With multiple All-Stars potentially on the move and contending teams looking to bolster their rosters, the next few weeks will define championship aspirations and franchise trajectories for years to come.

The Anthony Davis Saga in Dallas

The Dallas Mavericks find themselves at the center of the trade deadline conversation, with 10-time All-Star Anthony Davis's future dominating discussions. Despite Davis's preference to remain in Dallas and secure an extension this summer, the Mavericks have been aggressively exploring the trade market for the veteran big man. The situation has become increasingly complicated by Davis's recent hand injury, which will sideline him for at least six weeks and could require season-ending surgery.

Mavericks sources indicate that owner Patrick Dumont feels no pressure to make a deal simply for the sake of moving Davis. The organization is seeking a combination of financial relief, promising young talent, and draft compensation in any potential trade. Two primary destinations have emerged in discussions: the Atlanta Hawks and Toronto Raptors. However, the financial implications of extending Davis—who becomes eligible for a four-year, $275 million extension on August 6th—present significant hurdles for interested teams.

Market Challenges and Team Strategy

The trade market for Davis faces multiple challenges beyond his injury history. His massive contract—$54.1 million this season with a player option for 2027-28—makes salary matching difficult under the new collective bargaining agreement's apron restrictions. Additionally, Davis has played only 28 games since joining Dallas last February, raising durability concerns that have diminished his trade value across the league.

Dallas's options extend beyond the February deadline. The team could follow Phoenix's approach from last season, holding Davis through the deadline and revisiting trade discussions in the summer. Alternatively, they could enter next season with Davis, Kyrie Irving, and rookie Cooper Flagg to evaluate the core's potential before making long-term decisions. This flexibility gives Dallas leverage in negotiations, though the pressure to avoid making the Luka Doncic trade look historically bad remains a significant factor in their decision-making process.

Ja Morant's Diminishing Trade Value

Memphis Grizzlies point guard Ja Morant has become one of the most intriguing trade candidates as the deadline approaches. The two-time All-Star, who has spent his entire seven-year career in Memphis, is now being shopped by a Grizzlies organization that has started entertaining offers. Morant's value has declined significantly this season, with career lows in scoring (19 points per game), two-point shooting percentage (47%), and three-point shooting (20.8%).

Multiple teams have expressed interest, including the Miami Heat and Sacramento Kings, but executives around the league describe Morant's current value as "not high" and characterize any potential acquisition as "buying low." The Grizzlies are seeking young players and draft picks in return, but Morant's combination of injury history, off-court issues, and declining performance has created a challenging market. His public criticism of coach Tuomas Iisalo's substitution strategy earlier this season further complicated his standing with the franchise.

Giannis Antetokounmpo's Uncertain Future

Milwaukee Bucks superstar Giannis Antetokounmpo continues to generate speculation despite his public statements about being "locked in" with the franchise. The two-time MVP and his agent have been engaged in discussions about whether his long-term future remains in Milwaukee, with a resolution expected before the trade deadline. The Bucks, currently struggling with a 10-13 record, face mounting pressure to improve their roster around the 31-year-old superstar.

Trade discussions for Antetokounmpo face significant hurdles in the current NBA landscape. According to league insiders, the appetite for blockbuster trades involving multiple first-round picks has diminished under the new CBA's financial restrictions. The Bucks have been active in pursuing trade options, showing interest in players like Sacramento's Zach LaVine and Malik Monk, as well as Portland's Jerami Grant. However, with only one tradeable first-round pick (2031 or 2032) and limited assets, Milwaukee faces challenges in executing significant roster upgrades.

Trae Young Trade Aftermath and Market Impact

The January 7th trade that sent Trae Young from Atlanta to Washington for CJ McCollum and Corey Kispert has set the tone for this year's deadline season. The deal surprised many observers with its lack of draft compensation, but it addressed critical needs for both franchises. For Atlanta, it moved them away from a max-contract point guard whose defensive limitations had become increasingly problematic. For Washington, it provided a franchise still in early rebuild stages with an All-Star caliber player at a relatively affordable acquisition cost.

League reaction to the trade has been mixed, with some executives questioning Washington's decision to accelerate their rebuild timeline. However, the deal demonstrates how teams are navigating the new CBA's financial constraints, particularly the challenges of moving massive contracts. Young's $49 million player option for next season made him particularly difficult to trade, yet Washington's ample cap space positioned them as one of the few teams capable of absorbing his salary without significant financial repercussions.

Other Key Trade Candidates and Situations

Golden State's Jonathan Kuminga

The Golden State Warriors are exploring all options with forward Jonathan Kuminga ahead of the deadline. The 23-year-old, who signed a $22.5 million contract this offseason, represents Golden State's most valuable trade asset as they look to retool their aging roster. The Sacramento Kings have shown interest, but negotiations have stalled over draft compensation and salary matching concerns. Golden State's willingness to move Kuminga signals a potential shift in their team-building philosophy as they navigate the end of their championship window.

Cleveland Cavaliers' Roster Decisions

The Cleveland Cavaliers face significant decisions as they sit just one game above .500 after winning 64 games last season. With Donovan Mitchell and Evan Mobley considered the only "untouchable" players on the roster, Cleveland could become active sellers at the deadline. The team's position above the second apron creates additional challenges, restricting their ability to aggregate contracts or take back more salary in trades. Their limited draft assets—with no tradeable first-round pick until 2031—further complicate potential moves.

Denver's Injury-Driven Needs

The Denver Nuggets face unexpected roster challenges following Nikola Jokic's knee injury, which will sideline the three-time MVP for at least four weeks. With additional injuries to Christian Braun, Aaron Gordon, and Cameron Johnson, Denver's depth has been severely tested. The Nuggets have limited trade assets—no first-round picks and only two second-rounders—but do possess trade exceptions ($6.9 million and $5.4 million) that could facilitate minor roster additions. Their position just $402,000 above the luxury tax threshold adds financial considerations to any potential moves.

Financial Considerations and CBA Impact

The new collective bargaining agreement has fundamentally altered trade dynamics across the league. Teams operating above the second apron face severe restrictions, including limitations on aggregating contracts, taking back more salary in trades, and signing waived players above certain salary thresholds. These constraints have created a more cautious trade market, with executives increasingly hesitant to commit massive long-term contracts or trade multiple first-round picks.

The December 16th deadline for aggregating recently acquired players passed without any transactions, contrasting with last year's Dennis Schroder trade. This inactivity reflects teams' increased emphasis on roster flexibility and financial management. As the February 5th deadline approaches, expect more teams to prioritize expiring contracts and financial relief over long-term commitments, particularly for players with significant injury histories or declining performance.

Conclusion: What to Expect Before February 5th

The 2026 NBA trade deadline promises significant activity, though likely of a different character than previous seasons. The combination of financial restrictions, injury concerns for key players, and diminished trade values for several stars has created a more complex marketplace. Anthony Davis's situation in Dallas remains the most significant storyline to watch, with his massive contract and injury history creating unique challenges for any acquiring team.

Expect continued discussions around Ja Morant, Giannis Antetokounmpo, and other high-profile players, but recognize that the current NBA landscape favors more measured, financially-conscious moves over blockbuster trades. Teams will prioritize maintaining future flexibility while addressing immediate needs, particularly as they navigate the CBA's apron restrictions. The final weeks before the deadline will reveal which franchises are willing to take calculated risks and which prefer to maintain their current trajectories, setting the stage for a compelling stretch run and offseason to follow.