The 2025 NBA Trade Deadline will go down as one of the most dramatic and chaotic periods in league history. Blockbuster deals sent shockwaves through the league, headlined by the Los Angeles Lakers pulling off the unimaginable: pairing Luka Doncic with LeBron James in a deal that saw Anthony Davis heading to the Dallas Mavericks.
In an era defined by player empowerment, this trade has already proven that front offices no longer value loyalty and the tides might be turning as a result. But the Lakers weren’t the only players in the high-stakes deadline frenzy.
From Jimmy Butler finally landing with Stephen Curry in Golden State to De’Aaron Fox forcing his way to San Antonio and Brandon Ingram surprising everyone by heading north to Toronto, contenders and rebuilding teams alike made aggressive moves to shift their trajectories. Even the Milwaukee Bucks, Sacramento Kings, and Cleveland Cavaliers found ways to retool their rosters with calculated trades that could pay dividends in the playoffs.
Still, not every team left the trade deadline as a winner. Let’s dive into the biggest winners and losers of the 2025 trade deadline and unpack which teams came out ahead of the others.
Winner: Los Angeles Lakers
The Lakers pulled off the trade of the decade by acquiring Luka Doncic, arguably the league’s most dynamic young star. Pairing Doncic with LeBron James immediately vaults Los Angeles into title-favorite status, with the potential to dominate for years even after LeBron hangs up his jersey.
This move could make the Lakers better now (we have to wait and see) but it certainly future-proofs them, ensuring they’ll remain relevant in a post-LeBron world. It’s hard to overstate how monumental this trade is for a franchise that thrives on superstar power.
But what truly makes the Lakers winners is their minimal cost. Giving up Anthony Davis may sting defensively, but his injury concerns and inconsistency in recent seasons made him expendable in pursuit of a generational talent like Doncic.
The Lakers managed to hold onto most of their depth, including key pieces like Austin Reaves, Rui Hachimura, while they added Mark Williams in a trade for a package centered around Dalton Knecht. If the Lakers get it together, they have a roster that can win an NBA title this season but their future is looking even more bright.
Loser: Dallas Mavericks Fans
Mavericks fans are undoubtedly feeling the sting of Luka Doncic’s departure. Watching the franchise’s cornerstone walk away after years of mismanagement is a gut punch that no amount of spin can soften. That was why fans flocked to protest the trade by bringing a coffin to the American Airlines Center.
Luka was supposed to be the next Dirk Nowitzki—a player who could lead the Mavs to multiple championships while spending his entire career in Dallas. Instead, the fans are left wondering what went wrong and why the front office failed to surround Luka with the pieces he needed.
The pain is only amplified by the fact that Luka is now with the Lakers, one of Dallas’ biggest rivals. Mavericks fans will have to watch their former star thrive in Los Angeles, potentially winning championships while their own team languishes in mediocrity. Until Nico Harrison's decison plays out until the rest of the season, this is one of the darkest moments in franchise history for the fans.
Winner: Jimmy Butler
After months of speculation and drama in Miami, Jimmy Butler gets his long-awaited exit and lands in an ideal situation with the Golden State Warriors because he signed a two-year max extension worth $121 million. In other words, Butler got what he wanted: a max deal and competing with a title-contender.
Butler will join Stephen Curry and Draymond Green in what could become one of the most intriguing Big 3 combinations in recent memory. For Butler, this move is about legacy. He’s always wanted to prove he can lead or contribute to a championship-caliber team, and with Golden State’s championship pedigree, this is his best shot since his 2023 Finals run.
If things work out, he’ll cement himself as one of the most clutch and versatile stars of this generation. Off the court, Butler also wins by moving to the Bay Area, a market that aligns with his larger-than-life personality. He’ll get the opportunity to play alongside some of the most selfless stars in the league and thrive in a system built on movement, defense, and competitiveness.
Loser: Phoenix Suns
The Suns tried to get Jimmy Butler and they failed because they couldn't trade Bradley Beal. The no-trade clause was ultimately the end of Phoenix's hope of re-tooling, and they even tried to shop Kevin Durant as well. The "Big Three" stays where they are for now, and the Suns had to make smaller moves instead.
They opted to move Jusuf Nurkic for an uninspiring package centered around Cody Martin. This deal did little to address Phoenix’s glaring weaknesses and leaves Kevin Durant and Devin Booker carrying an even greater load for the remainder of the season.
What’s worse is that the Suns’ front office appeared passive during one of the most active trade deadlines in NBA history. Teams like the Lakers and Warriors were busy making franchise-altering moves, while Phoenix essentially treaded water. The Suns will likely stumble into the playoffs and face a first-round exit with their current roster.
Winner: San Antonio Spurs
The Spurs are easily one of the biggest winners of the deadline, pulling off a blockbuster deal to land De’Aaron Fox. Adding Fox gives the Spurs one of the best young cores in the league alongside superstar Victor Wembanyama.
Fox is a proven All-Star who can run the offense, dominate in transition, and thrive in pick-and-roll sets with Wembanyama. San Antonio’s decision to package picks for Fox signals that they’re ready to accelerate their rebuild and aim for playoff contention sooner rather than later.
For Fox, this is a dream scenario. He’s moving from a middling Kings franchise to a Spurs team with a clear direction and a generational talent in Wembanyama. Fox wanted to play for the Spurs and he got his wish, meaning he will be motivated to make an impact with the team. A win-win all around for everyone in the Spurs organization.
Loser: Miami Heat
The Heat’s decision to finally part ways with Jimmy Butler could be a step toward resetting their roster, but the return was underwhelming. Kyle Anderson, Andrew Wiggins, and a protected first-round pick don’t move the needle for a team that prides itself on competing for titles.
Wiggins is a solid piece who fits Miami’s defensive identity, but he’s far from the star that the Heat needed to stay relevant in a loaded Eastern Conference. For a franchise that’s known for maximizing talent, this trade feels like a half-measure.
Worse still, the Heat’s handling of the Butler situation left a bad taste in everyone’s mouth. Months of tension and public speculation painted the organization as chaotic and disorganized.
Now, Miami is stuck in limbo—too talented to tank but not good enough to contend. For a franchise that’s defined by its culture, this feels like a rare misstep for Pat Riley and company.
Winner: Cleveland Cavaliers
The Cavaliers’ acquisition of De’Andre Hunter is the type of smart, forward-thinking move that championship-caliber teams make. Hunter brings defensive versatility and a reliable shooting touch to a roster already stacked with young talent.
Slotting Hunter alongside Darius Garland, Donovan Mitchell, Evan Mobley, and Jarrett Allen gives Cleveland one of the most balanced starting fives in the NBA. This move reinforces the Cavs’ position as a major contender and a direct threat to the Boston Celtics in the East.
Hunter’s ability to guard multiple positions and knock down corner threes will be invaluable in the playoffs. The Cavs also managed to acquire him without giving up any of their core pieces, which is a testament to their front office’s savvy.
Winner: Giannis Antetokounmpo
Giannis Antetokounmpo had been vocal about his desire for the Bucks to stay aggressive, and the front office delivered by bringing in Kyle Kuzma. The addition of Kuzma gives Giannis and Damian Lillard a versatile forward who can defend multiple positions and score in a variety of ways.
With Khris Middleton aging and battling injuries, Kuzma could become the reliable third option the Bucks have been searching for. This trade not only strengthens the Bucks’ roster but also sends a message to Giannis that the organization is committed to competing for titles during his prime.
With the Bucks firmly in win-now mode, Giannis has every reason to feel optimistic about his chances to add another ring to his resume, although it won't be easy considering the Cavaliers got better and the Celtics and Knicks are stacked with talent.
Winner: Toronto Raptors
The Toronto Raptors made one of the most surprising moves of the deadline by acquiring Brandon Ingram, giving them a dynamic forward to pair alongside Scottie Barnes. Ingram’s ability to score at all three levels instantly elevates Toronto’s offense, which has often struggled with consistency in the half court.
Adding a proven star like Ingram also balances out the roster, giving the Raptors another late-game shot creator and someone who can draw defensive attention away from their other key players. The next step will be to shore up the guard positions a little bit more.
This move signals that the Raptors are serious about contending in the Eastern Conference in due time. With their defensive versatility and now a more potent offense, Toronto hopes to become a team no one will want to face in the playoffs.
Winner: Los Angeles Clippers
The Clippers made an under-the-radar but impactful move by acquiring Bogdan Bogdanovic from the Hawks. Bogdanovic brings much-needed outside shooting to a team that can stack this type of talent around James Harden, Norman Powell, and Kawhi Leonard.
Bogdanovic's ability to create his own shot and knock down threes makes him a perfect fit for Ty Lue’s system. With the newcomer in the fold, the Clippers now have one of the deepest and most well-rounded rosters in the league and all they need is a healthy Kawhi Leonard to become a major title-contender.
