2026 NBA free agency is here! In the lead-up to the opening of free agency, we’ve already seen 23 trades agreed to/executed. In addition, 28 players have agreed to new contracts and/or extensions.
Even with all of that, more than 150 players without agreements will become free agents at midnight on July 1. And, of course, a whole lot more trades are going to go down. Basically: A lot has already happened and we still have a whole lot more to happen!
The General 2026 Offseason Landscape
The 2025 offseason saw the Brooklyn Nets as the only true cap space team. The Memphis Grizzlies and Milwaukee Bucks also went the cap-space route, but for direct reasons to renegotiate-and-extend Jaren Jackson Jr. and to sign Myles Turner in free agency, respectively.
This coming offseason looks like a bit of a return to form. While some teams used their spending power by taking on long-term money in trades, a couple of others opened up the ability to have a lot of cap space. This includes some marquee markets, which should make for an interesting summer.
Here are the current projected cap, tax and apron lines of note for the 2026-27 season:
Salary Cap: $165 million
Salary Floor: $148.5 million
Luxury Tax: $201 million
First Apron: $209 million
Second Apron: $222 million
Here are the projected signing exception amounts for the 2026-27 season:
Room Exception: $9.4 million (team has access if they are a cap space team)
Non-Taxpayer MLE: $15.0 million (using triggers a first-apron hard cap)
Taxpayer MLE: $6.1 million (using triggers a second-apron hard cap)
Bi-Annual Exception: $5.5 million (using triggers a first-apron hard cap)
Right now, we project three teams to have a cap space, with two others as potential cap space teams. Everyone else seems most likely to operate as over-the-cap teams. But here’s what really matters when it comes to projected 2026 cap space, and it’s twofold:
First, we’re talking significant cap space available this summer. The three likely cap space teams are in range to offer max, or at least near-max, deals to free agents. That’s huge for potential movement.
Second, and even more crucial, some of the NBA’s glamour teams are on here. When the Los Angeles Lakers have space, things tend to happen. The Chicago Bulls project to have cap space, and they’ve been active with space before. Then, you have the rebuilding Brooklyn Nets, who have sent some signals they intend to take steps forward this year.
Now, to be fair, it’s not exactly a marquee free agent class. That’ll more likely come in 2027…maybe. There are several potential interesting restricted free agents that cap space teams could pursue.
And, as always, a weaker free agent class doesn’t mean having spending power is useless. With the Apron Era fully upon us, NBA teams are embracing creativity with their rosters more than ever. Trades will always be a factor, and having cap space makes you a more available trade partner than a team that is over the cap.
With all that said, here’s how things look for 2026 spending power around the NBA as free agency opens!
(Note: These projections are made using the noted cap and tax figures above, free agent cap holds (or renouncement projections), draft pick cap holds and factoring in agreed-to trades and agreed-to contracts. No extensions or trades have been projected. We will call out where those types of situations could impact a team projection.)
Cap Space Teams – 3 Teams
Los Angeles Lakers: $51.2 million in cap space and $9.4 million Room Exception
Brooklyn Nets: $40.9 million and $9.4 million Room Exception*
Chicago Bulls: $30.9 million and $9.4 million Room Exception
*Nets could use their cap space before completing the trade to acquire Julius Randle.
Swing Cap Space and Non-Taxpayer Mid-Level Exception Teams – 2 Teams
Detroit Pistons – up to $41.4 million in cap space*
LA Clippers – up to $31 million in cap space^
*Detroit could create up to 23.3 million in space if they clear out free agents, except for Jalen Duren. If Detroit loses Jalen Duren, they could create up to $41.4 million in space.
^LA could create up to $31 million in cap space if they clear out their free agents and non-guaranteed players.
Non-Taxpayer Mid-Level Exception Teams – 11 Teams
Atlanta Hawks*
Boston Celtics
Charlotte Hornets
Dallas Mavericks
Memphis Grizzlies
Milwaukee Bucks
New Orleans Pelicans
Portland Trail Blazers
San Antonio Spurs
Utah Jazz
Washington Wizards
*The Hawks are projected to use their Non-Taxpayer MLE to re-sign Jock Landale.
Swing Non-Taxpayer Mid-Level Exception Teams and Taxpayer Mid-Level Exception Teams – 3 teams
Golden State Warriors*
Philadelphia 76ers^
Sacramento Kings~
*The Warriors spending power is dependent on how much Draymond Green re-signs for.
^The 76ers could have the Non-Taxpayer MLE, if they let both Quentin Grimes and Kelly Oubre Jr. walk. If they retain one of those players, the Taxpayer MLE is more likely.
~The Kings can create enough room to use the Non-Taxpayer MLE if they waive DeMar DeRozan.
Taxpayer Mid-Level Exception Teams – 5 teams
Houston Rockets
Indiana Pacers
Miami Heat
Phoenix Suns
Toronto Raptors
Swing Taxpayer Mid-Level Exception Teams and Second Apron Teams – 2 teams
Cleveland Cavaliers
Orlando Magic
Second Apron Teams (no signing exceptions, Veteran Minimum contracts only) – 4 Teams
Denver Nuggets
Minnesota Timberwolves
New York Knicks
Oklahoma City Thunder