Heat Land Antetokounmpo as LeBron Departs Lakers
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- Miami Heat acquired Giannis Antetokounmpo from the Bucks, sending Tyler Herro, three first-round picks and additional assets — claiming "the top prize" in an escalating Eastern Conference arms race.
- Boston Celtics traded 29-year-old Jaylen Brown to the 76ers for 36-year-old Paul George, two first-round picks and two second-round picks after Boston's own Antetokounmpo offer was rejected; George missed more games than he played in his two Philadelphia seasons.
- Utah Jazz flipped restricted free agent Walker Kessler to the Lakers for two unprotected first-round picks and two first-round swaps, with Kessler landing a 4-year, $130 million contract via sign-and-trade.
- Los Angeles Lakers lost LeBron James to free agency after eight seasons and gave up significant draft capital for Kessler; the team also lost Smart, Kennard and Hayes while failing to meaningfully improve its 2027 title outlook.
- Charlotte Hornets traded LaMelo Ball to the Timberwolves for Naz Reid, an unprotected 2033 first-round pick, three first-round swaps and three second-round picks after reaching last season's play-in tournament.
- Toronto Raptors reacquired Kawhi Leonard as a major upgrade over Brandon Ingram, whose 3-year, $120 million contract had been "threatening to put a hard ceiling" on the salary cap.
- Portland Trail Blazers added Ja Morant from Memphis for Jerami Grant and Kris Murray, despite already employing three point guards (Lillard, Holiday, Henderson) and reaching the playoffs last season.
Why it matters: The Eastern Conference arms race now tilts heavily to Miami by adding a two-time MVP, while Boston's bet on the older, injury-prone George instead of Brown caps its 2027 title window. Out West, Utah's draft-pick haul from the Lakers — including an unprotected 2031 first — could pay off massively if Doncic's health issues or L.A.'s post-LeBron roster construction collapses.
