Celtics Lose Valuable Trade Assets

The Boston Celtics have suffered a quiet but significant setback as the 2023-24 season ended. Trade exceptions have long been a valuable tool for roster construction. Under the new collective bargaining agreement, the CBA has become a perishable commodity for teams in the second apron of the luxury tax. The Celtics navigated much of last season over this threshold. The Celtics have now lost several key trade exceptions. These exceptions, worth millions, expired unused as the regular season ended—marking a missed opportunity for the team.

NBA Business: Celtics Lose Valuable Trade Assets

Impact of the New CBA on Trade Exceptions

The new CBA, enacted in July 2023, introduced harsher penalties for teams that exceed the second apron. This is a tier of the luxury tax set to penalize high-spending franchises. One of the most critical penalties involves the loss of trade exceptions if they aren’t used by the end of the regular season. Trade exceptions allow teams to absorb a player’s salary in a trade without having to match salaries. This creates flexibility in building a roster. However, under the new rules, failing to use these exceptions in time results in them expiring, with no compensation.

For the Celtics, this deadline passed without action. The team had notable trade exceptions that could have been used to acquire additional assets during the 2023-24 season. With the close of the 2023-24 season, these trade exceptions expired, rendering these Celtics’ options obsolete.

Celtics’ Lost Trade Exceptions

The Celtics finished the 2023-24 season with several trade exceptions. These were created through deals involving key players like Marcus Smart and Grant Williams. Among the most significant exceptions were:

$11.6 million from the Marcus Smart trade: This exception was created when the Celtics sent Smart to the Memphis Grizzlies in a deal that brought Kristaps Porziņģis to Boston. The exception represented a substantial amount that could have been used to absorb a mid-tier player’s salary without sending matching salaries in return.

$6.9 million from the Grant Williams sign-and-trade: This exception was generated when the Celtics traded Williams to the Dallas Mavericks. While the figure is smaller than the Smart exception, it still could have provided flexibility to absorb a player or be combined with other exceptions.

In addition to these, the Celtics had several smaller exceptions ranging from $1 million to $5 million. All of these tradeable assets were left unused and expired when the 2023-24 season concluded for CBA purposes at the end of the regular season.

Missed Opportunities for Boston

Losing these exceptions marks a missed opportunity for the Celtics, especially as they aim to remain on top of the pile in the increasingly tough NBA. The new CBA rules mean that the Celtics, while already above the second apron, can no longer take advantage of these exceptions to acquire complementary pieces. As Boston gears up for the 2024-25 season, their ability to add mid-tier players via trade has been drastically limited.

The Boston Celtics steamrolled to their 18th NBA championship last season. They brought back a nearly identical roster for the 2024-25 season. As it stands, they remain well-positioned to be the first team to win back-to-back championships in seven years. There’s no immediate cause for concern at TD Garden. Still, this represents a missed opportunity to add some talent to shore up weaknesses on the team. For instance, the Celtics have Porzingis set to miss significant time this season recovering from an injury. It’s unlikely the Celtics would have made a flashy addition with these trade exceptions. However, they could have added a serviceable short-term fit to their rotation. This is important as they navigate the punitive penalties of being a second-apron team.

Now, the Celtics must rely more heavily on internal development or explore less flexible methods of improving their roster. These are however limited due to the second apron restrictions.

Looking Ahead: The 2024-25 Season

As the Celtics look ahead to the 2024-25 season, they do so without the financial cushion these trade exceptions once provided. The new CBA rules have forced the team into a more rigid salary structure, and navigating roster changes will be significantly more challenging. With their current roster headlined by Jayson Tatum and Jaylen Brown—both on lucrative deals—Boston’s cap space remains tight, and maneuverability in the trade market is severely restricted.

Celtics Lose Trade Exceptions

The expiration of the Celtics’ trade exceptions is a direct consequence of the new CBA’s tougher regulations for second-apron teams. These trade exceptions, worth millions, could have given the Celtics the ability to absorb additional talent. Instead, they expired, leaving the team with fewer options to bolster their roster. As the Celtics prepare for the 2024-25 season, this lost flexibility could haunt them in the highly competitive NBA. In an era where every roster move counts, losing these trade assets without using them represents a significant missed opportunity for one of the NBA’s most storied franchises.