It’s that time of the summer again. One year after the most expensive NBA free agency period in history, there are several additional big names looking for a new place to call home this time around.
At the top of the list is Utah Jazz small forward Gordon Hayward, who is reportedly being courted by the Boston Celtics and the Miami Heat. But of course that’s not it, not even close.
While Kevin Durant and Stephen Curry are unrestricted free agents this year, there is no doubt they will stay with Golden State. Not only that, but Curry is expected to sign a record contract worth over $200 million.
But aside from those two, there’s a number of other players who are expected to get massive deals. There’s also Toronto Raptors guard Kyle Lowry and then Los Angeles Clippers forward Blake Griffin. To see a list of the top free agents, click here.
Any way you look at it, we are destined for yet another entertaining free agency period. That will officially begin July 1, which is the first day of the 2017-18 NBA season.
At 12:01 a.m. July 1, free agents are free to reach verbal deals with teams, but can’t officially ink a deal until a few days because of a moratorium. The moratorium was established by the league so that it can complete an audit to establish financial figures such as the salary cap, luxury tax and average salary.
During the moratorium, free agents are allowed to negotiate with teams and come to terms on a new contract, but can’t make it official until July 6 when the period ends. At noon EDT on July 6, teams can officially start signing players and making trades.
This year’s free agency period is anticipated to be another expensive one, as the league’s collective bargaining agreement called for the salary cap to change based on league revenues. For example, the cap was set at $70 million for the 2015-16 season. But the following year because of a new TV deal, the cap was raised to $94.14 million per team, and the luxury tax limit was at $113.29 million.
For the 2017-18 season, that’s projected to rise once again with predictions saying it will be up to an eye-popping $102 million cap and $113 million luxury tax limit.
Regardless, the much-anticipated free agency period officially begins July 1. Here’s a look at a few dates and deadlines in regard to free agency:
June 30: Last day of the 2016-17 league year and the last day for teams to make qualifying offers to restricted free agents.
July 1: The beginning of the 2017-18 season. Free agents are able to reach verbal agreements with teams, but the league’s moratorium begins.
July 6: The moratorium ends at noon EDT and free agents can officially start signing contracts with teams. Teams can also start making official trades.
July 13: The last day for teams to withdraw qualifying offers on restricted free agents.
July 15: The final day for teams to offer tenders to first-round draft selections that are still unsigned. If not offered, those players will become free agents.