A few weeks ago, a league executive told me to expect a relatively quiet trade deadline, one without a blockbuster deal. There were too many cap restrictions, more buyers than sellers on the market, and a general pessimism about deals getting done.

The 3 p.m. ET deadline was a moment in time, but this 2025 version qualified as a “trade week” at least, almost as a “trade season” if we look back to Dec. 15 when Thomas Bryant moved from Miami to Indiana and Dennis Schröder went from Brooklyn to Golden State.