The NBA trade deadline is closing in — it’s at 3 p.m. ET on Thursday — and we finally have a second trade of the year (and grades for both deals).
The first featured the Atlanta Hawks sending star point guard Trae Young to the Washington Wizards for CJ McCollum and Corey Kispert.
Now, three weeks later, the Cleveland Cavaliers, Sacramento Kings and Chicago Bulls completed a swap that saw the Cavs add Dennis Schroder and Keon Ellis, the Kings acquire De’Andre Hunter and the Bulls take on Dario Saric and two draft picks.
We’re grading every deal up until the deadline, breaking down the ramifications for all teams and players involved. Let’s get into the latest move:
Quick links: Latest buzz, intel | Trade tracker | Trade machineDepth charts | More trade deadline coverage
Atlanta Hawks get: C Duop Reath, two second-round picksPortland Trail Blazers get: G Vit Krejci
Grade for Atlanta: BGrade for Portland: A-
What this deal means for the Trail Blazers: Portland has been one of the season’s best stories, carrying over a strong finish to 2024-25 into what will likely be its first postseason appearance since 2021 despite a crushing set of backcourt injuries.
Lately, however, a back strain for Deni Avdija forced him to miss five games in late January and play at less than 100 percent when he was on the court. The Blazers went 0-3 during a disappointing East Coast road trip, losing to the lowly Washington Wizards and getting blown out at Madison Square Garden on Friday.
Although Portland is hoping to get perimeter players back soon, shooting was also a need at full strength. The Blazers are third in 3-point attempts per game but dead last in accuracy beyond the arc. Krejci, who has hit 42% beyond the arc this season and throughout his time in Atlanta, should help there while fitting into Portland’s aggressive defense.
Editor’s Picks
2 Related
Better yet, Krejci is on a team-friendly contract that pays him the minimum through 2027-28 with no guaranteed money beyond this season. That could be particularly important if the Blazers shed some salary before the deadline with an eye toward using cap space to renegotiate Avdija’s contract in conjunction with a long-term extension.
Even before Reath was diagnosed with a stress fracture in his right foot earlier this week that required season-ending surgery, he looked like an odd man out for Portland, having played just 258 minutes this season after the Blazers drafted center Yang Hansen in the first round last June.
From that standpoint, the most interesting part of this deal is it leaves Portland in need of finding two roster spots to convert the contracts of two-way standouts Sidy Cissoko and Caleb Love. Veteran wing Matisse Thybulle, who has been sidelined since October and is in the final season of his contract, could be moved before the deadline.
What this deal means for the Hawks: Adding sharpshooter Corey Kispert in the trade sending Trae Young to the Washington Wizards last month helped cut Krejci’s playing time in recent games. Before starting and getting 27 minutes with Atlanta short-handed on Thursday, he’d totaled 17 minutes over the previous three games.
Unlike Portland, which was $1.5 million from the luxury tax prior to what is largely a salary-neutral trade, the Hawks have a bit more room to operate. So Atlanta will surely waive Reath, who’s in the final season of his contract, and could utilize the roster spot to convert two-way contributor Christian Koloko.
The real prize of this deal for the Hawks is getting back their own 2027 second-round pick, which had been sent to the Boston Celtics in a 2023 draft-night trade and rerouted multiple times before ending up in Portland.
Cleveland Cavaliers get: G Dennis Schroder, G Keon EllisSacramento Kings get: F De’Andre HunterChicago Bulls get: F Dario Saric, two future second-round picks
Grade for Cleveland: B+Grade for Sacramento: CGrade for Chicago: A
What this deal means for the Cavaliers: Ellis improbably became one of the most in-demand players at the deadline while playing a smaller role than last season because of his minimum salary and combined with a 3-and-D skill set that fits better on a contending team than it did in Sacramento.
In part, Ellis’ role has shrunk because he hasn’t shot the ball as well as last season, when he hit an effective 64% of his shots when accounting for the added value of 3-point attempts. This season, he has slumped to 37% on 3s and just 46% inside the arc, both his lowest marks in a full season. (He played just 71 minutes in 2022-23 as an undrafted rookie on a two-way contract.)
Over the full sample of his career, Ellis is at 42% on 3s and 56.5% for 2s for 61% effective shooting that makes him one of the league’s most efficient perimeter role players. At 6-foot-4, he also has the size to defend either backcourt spot and particularly excels on the ball with his quickness. He has defended the opposing player who brings the ball up on 24% of his defensive possessions this season, according to GeniusIQ tracking.
I particularly like how Ellis will fit alongside Donovan Mitchell, who has played nearly as much point guard this season as he has off the ball as Darius Garland has experienced toe injuries. Ellis can free Mitchell from having to defend ball handlers in those lineups while also spacing the floor at the other end.
It’s less clear how Schroder fits in, particularly if Garland is able to get healthy. The Cavaliers are adding Ellis and Schroder to a backcourt that includes All-Stars in Garland and Mitchell, an ace outside shooter in Sam Merrill, a capable backup point guard in Craig Porter Jr. and a veteran in Lonzo Ball. It’s unlikely Schroder will play anywhere near as much as with the Kings, for whom he averaged 26.4 minutes per game despite losing his starting job to Russell Westbrook.
From a financial standpoint, Cleveland has significantly cut its luxury tax bill, saving nearly $40 million in tax payments alone by rerouting Saric to Chicago. Perhaps more importantly, the Cavaliers have moved within striking distance of going under the second-apron threshold, a necessity if they want to aggregate salaries before the deadline.
Before, accomplishing that might have required shedding Hunter’s full $23.3 million salary, which was too big for any team to take into cap space or a trade exception. By cutting nearly $7 million in salary, Cleveland could now duck the second apron by dealing either Schroder ($14.1 million) or Max Strus ($15.9 million) without taking back contracts, giving the franchise more options to pursue a star.
Down the road, Cleveland’s roster could get more expensive if the team re-signs Ellis. Schroder will make $10 million less than Hunter for 2026-27, which might not cover Ellis’ starting salary on an extension or a new contract as an unrestricted free agent. Schroder also has $4.35 million of his 2027-28 salary guaranteed, per ESPN’s Bobby Marks, while Hunter’s contract will be up after next season.
Those are concerns for another day.
The most realistic way for the Cavaliers to save money remains Mitchell leaving as an unrestricted free agent in 2027, when he holds a $53.8 million player option. That’s the scenario they hope to avoid. Strengthening a team that is tied for fourth in the Eastern Conference after finishing atop the standings a season ago is the best way to keep Mitchell. This trade is a step forward in that regard — and, perhaps, a step toward a bigger one by Thursday’s deadline.
What this deal means for the Kings: This deal is a tough reminder of the Kings’ missteps last summer, when they were still hoping to compete for the postseason before new general manager Scott Perry shifted his focus to building something more sustainable, as he described last month to Andscape’s Marc J. Spears.
In order to add Schroder as an unrestricted free agent via sign-and-trade without pushing into the luxury tax, Sacramento had to cut salary. That meant dealing Jonas Valanciunas to the Denver Nuggets for Saric, a move that backfired when Valanciunas subsequently signaled a desire to walk away from his contract for an offer from Greek power Panathinaikos. (The Nuggets, who wanted Valanciunas, ended up denying that request.)
Saric ultimately played just five games with the Kings, while Schroder has started only twice since Nov. 12. (Those ended up being Schroder’s final two games with Sacramento, ironically, with Westbrook sidelined by a foot contusion.)
Adding those two newcomers into a deal for Hunter ended up costing the Kings the two second-round picks in this trade, which are instead headed to the Bulls despite Ellis being the single most valuable player who changed teams.
On the plus side, Sacramento is getting Hunter at a low point in his value. A year ago, the Cavaliers gave up three second-round picks and a pair of first-round swaps in order to add him for the stretch run. At the time, he was shooting a career-high 39% from 3-point range, and he improved after joining Cleveland to shot 46% in the playoffs. This season, Hunter is hitting a career-low 31% of 3s and has seen his playing time decline to 22.4 minutes per game in January.
A 37% career 3-point shooter, Hunter should be more accurate with the Kings, and his ability to play both forward spots is a good fit for a team short on frontcourt size. Adding his $24.9 million salary for 2026-27 will push Sacramento into the luxury tax for now, but the franchise will have plenty of opportunity to cut its payroll between now and then. In the worst-case scenario, the partial guarantee on DeMar DeRozan’s salary ($10 million) should get the Kings safely under the tax line.
If Hunter plays well enough, he could go back to being a deadline pickup for a contending team next year.
What this deal means for the Bulls: Credit the Bulls for being in position to take advantage of the need for a third team to take back Saric’s salary in this deal. When Chicago and Sacramento were part of a three-team trade in 2024 sending DeMar DeRozan to the Kings and Harrison Barnes to the Spurs, the Bulls’ precarious tax position prevented them from getting the best draft pick in the deal — a first-round swap in 2031 that San Antonio got for taking on Barnes’ salary.
Sitting more than $13 million below the tax line this season, Chicago could use the remaining portion of a trade exception created in yet another Bulls-Kings-Spurs three-team deal (the one sending Zach LaVine to Sacramento almost exactly a year ago) in order to take on Saric’s $5.4 million salary.
The only cost for Chicago is a roster spot. The Bulls will have to waive a player to add Saric, with little-used guard Jevon Carter a likely candidate in the last season of his contract. If they don’t include Saric in a subsequent trade, a buyout seems likely after the deadline, leaving them with a couple of extra second-round picks for their trouble.
Atlanta Hawks get: G CJ McCollum; F Corey KispertWashington Wizards get: G Trae Young
Grade for Atlanta: BGrade for Washington: B
What this deal means for the Hawks: Less than five years ago, the Hawks reached the 2021 conference finals behind a star-making performance from Young, who averaged 28.8 PPG and 9.5 APG in the playoffs at age 22. It seemed like the start of a run for Atlanta, which had just one key player older than 27. Instead, the Young-era Hawks had already peaked.
Quickly eliminated from the playoffs in 2022 and 2023, Atlanta has yet to get back. The Hawks opened this season with high expectations after adding Nickeil Alexander-Walker and Kristaps Porzingis, but Atlanta went 2-8 in the 10 games Young played this season, leading to this franchise-altering deal.
The Hawks defending better with Young on the bench is certainly nothing new. That’s been the case throughout his career. According to Cleaning the Glass data, which filters out garbage time, 2022-23 is the only season the Hawks haven’t allowed at least two points per 100 possessions more with Young on the court than on the bench.
Historically, that’s been counterbalanced by the enormous boost Young provides the Atlanta offense. Flipping that stat, 2023-24 is the only season Atlanta hasn’t scored at least five more points per 100 possessions offensively with Young on the court. That actually hasn’t changed at all this season, despite the emergence of Jalen Johnson as an All-Star. The Hawks are scoring 9.2 more points per 100 possessions with Young, which ranks in the 95th percentile leaguewide.
The issue is twofold: Atlanta is defending better with Young on the bench, and much worse with him on the court.
The latter factor is probably random noise. Based on GeniusIQ’s quantified shot probability measure (qSP), which measures the expected effective field goal percentage (eFG%) given the location and type of shot, distance of nearby defenders and player ability, Hawks opponents get slightly better shots when Young plays. Atlanta’s qSP on defense goes from 54% without Young, which would rank 12th in the league, to 56.6% with him. That would rank 29th, ahead of only the New Orleans Pelicans.
Upcoming NBA games on ESPN/ABC
Wednesday, Feb. 4 (ESPN)Nuggets at Knicks, 7 p.m. ETThunder at Spurs, 9:30 p.m. ET
Saturday, Feb. 7 (ABC)Rockets at Thunder, 3:30 p.m. ETWarriors at Lakers, 8:30 p.m. ET
Sunday, Feb. 8 (ABC/ESPN)Knicks at Celtics, 12:30 p.m. ETClippers at Timberwolves, 3:30 p.m. ET
Still, the actual shooting difference without Young is more than three times larger. Hawks opponents shoot a 63% eFG% with Young on the court and just 54% with him on the bench. The shot quality differential is more in line with Young’s typical defensive impact, and the shotmaking is likely a fluke.
The bigger factor going forward is that Atlanta has found a way to survive without Young. The Hawks’ minus-0.4 net rating this season is their best when Young sits at any point in his career. And although that kind of break-even play is not good enough to escape the play-in, remember that it comes with zero contributions from Young’s roster spot. Replacing him with McCollum should help the Hawks be more competitive the rest of the season.
The Atlanta offense has still ranked around league average so long as Johnson has been on the court. It’s when the Hawks play with neither Johnson nor Young that their offense craters to 107.8 points per 100 possessions according to Cleaning the Glass, which ranks in the 7th percentile leaguewide.
Starting guards Alexander-Walker and Dyson Daniels supply enough playmaking in concert with Johnson as a point forward to keep the Atlanta offense flowing. But without a third capable ballhandler in the backcourt, the Hawks’ second units have struggled badly. McCollum should lift those groups.
In particular, Atlanta will benefit from McCollum’s ability to create his own shot. According to GeniusIQ, he has shot an effective 51.5% on half-court shots that are neither an assist opportunity nor a putback. Onyeka Okongwu (50.5%) is the only player on the Hawks above 46% eFG% on at least 50 such attempts, and his shot volume is nearly as high as McCollum’s.
There might be a role for Kispert, too, although his skill set overlaps with that of Atlanta reserve Luke Kennard. Kispert is a more capable defender and younger at 26. He’s under contract through 2028-29, whereas Kennard is on a one-year deal.
Looking forward, this trade gives Atlanta the ability to reshape its roster. The Hawks no longer have any player making more than $31 million at any point during his contract. They can re-sign or extend McCollum (and potentially Porzingis, depending on his health) and have ample flexibility to add to the roster this summer without threatening the luxury tax.
In the longer term, Atlanta is betting on the development of Johnson — a good bet to make his All-Star debut — and the draft picks the team has coming to supply needed shot creation. The Hawks have the better of first-round picks this year from the Milwaukee Bucks and Pelicans thanks to their trade on 2025 draft night.
Only the Indiana Pacers have a worse record than the Pelicans, and the Bucks would also be in the lottery if the season ended today. Projections using ESPN’s Basketball Power Index give Atlanta the No. 1 pick via that trade in 15% of simulations.
If the Hawks can find another star through the draft, they’ve collected enough quality role players with an emphasis on defense to build around them better than they could Young. That offers hope for a new era in Atlanta.
Surely, the Hawks hoped they could get some pick value in return for Young. That Atlanta was willing to make this deal without any reflects how difficult the trade market is for max-level players who aren’t inner-circle stars. Given that reality, the Hawks not having to include picks to incentivize taking on Young’s 2026-27 player option isn’t such a bad thing.
What this deal means for the Wizards: Since hiring Michael Winger and Will Dawkins to lead their front office in 2023, the Wizards have been one of the NBA’s most patient teams, accumulating young talent without a clear path toward competing for a playoff spot. Trading for Young is a course correction that signals Washington is heading into a new phase of its rebuild.
It would be interesting to know how much the Wizards’ recent success played into that decision. Since starting the season 1-15, Washington has gone 9-10, including five wins in the past seven games. That might have suggested to Wizards management that simply playing out the season and collecting another lottery pick was no longer a certainty because they owe their pick to the New York Knicks if it falls outside the top eight.
More broadly, Washington might be at the point where supporting the development of its young talent — most notably starters Bilal Coulibaly, Kyshawn George and Alex Sarr, all of them 22 or younger — with capable veterans is appropriate. We’ve seen how that accelerated the progress of the Houston Rockets and Detroit Pistons in recent seasons.
I’m not sure Young is a natural fit in that role. He’s an outstanding passer who led the NBA with 11.6 APG last season, but that came in the context of Young dominating the ball in a way the veterans Houston and Detroit added did not.
Breaking News from Shams Charania
Download the ESPN app and enable Shams Charania’s news alerts to receive push notifications for the latest updates first. Opt in by tapping the alerts bell in the top right corner. For more information, click here.
Young’s 5.7 minutes time of possession this season, per GeniusIQ tracking on NBA Advanced Stats, is more than McCollum (4.5) in fewer minutes per game. He has held the ball approximately 41% of the time the Hawks have been on offense, as compared with approximately 29% for McCollum with the Wizards. Fred VanVleet, the point guard Houston added at a similar stage, had approximately 35% time of possession during his first season with the Rockets.
Given Coulibaly, George and Sarr will likely end up primarily in off-ball roles, that might work out if they’re OK handling the ball less. Young will be a more dangerous pick-and-roll playmaker than Washington has had since prime John Wall. The Wizards are 25th in points per chance off pick-and-rolls this season. Young ranked 12th in 2024-25 in points per chance among ballhandlers who received at least 1,000 screens.
The trickier fit is Young with second-year guard Bub Carrington, who has played both on and off the ball in his NBA career. Adding Young might push Carrington more toward shooting guard, where Washington already has rookie lottery pick Tre Johnson.
More than anything else, this is probably a value play for the Wizards. Despite his defensive limitations, Young is still a four-time All-Star because of the way he lifted Atlanta offensively. Young picking up his $49 million player option for 2026-27 — perhaps in the context of an extension beyond next season — won’t be an issue for a Washington team that was looking at $90-plus million in cap space, pending the Wizards retaining their draft pick. They’ll still have max-level room to either add supporting veterans or take on contracts for draft compensation.
Acquiring Young now gives Washington three months to evaluate how he and the team’s young players fit together before building around them this offseason. If dealing for Young was the centerpiece of Washington’s efforts to move toward competitiveness, I’d be concerned. As a starting point in that process, it makes more sense.
