10 Latest NBA Trade Rumors: Draft Night Trades Reshape the League, Brown Bidding War Looms

The 2026 NBA Draft has triggered a wave of trade activity across the league, with Round 1 already complete and rumors continuing to swirl around several of basketball's most significant remaining storylines. Here are the 10 biggest trade rumors and developments shaping the NBA right now.

1. The Giannis Trade to Miami Is Officially Done

Prior to Monday night, all eyes were on a potential trade for Milwaukee Bucks star Giannis Antetokounmpo, which finally went down in a blockbuster with the Miami Heat. The Bucks are also sending Bobby Portis to Miami in the deal. In return, the Bucks will reportedly receive three first-round picks, All-Star guard Tyler Herro, Kel'el Ware, Jaimie Jacquez Jr., Kasparas Jakucionis, one pick swap, and one second-round selection. One of the three first-round picks was the No. 13 selection in Tuesday's draft.

2. A Possible Bidding War for Jaylen Brown

With the Antetokounmpo deal now finalized, attention has shifted to whether Boston will move forward with its own All-Star, with ESPN's Brian Windhorst suggesting a "bidding war" could be possible for Jaylen Brown as multiple teams explore the market for the Celtics wing.

3. The Pelicans Want Back Into the Lottery

New Orleans has been aggressively shopping to move up in this year's draft. The Pelicans are trying to trade into the lottery, with the Warriors, Mavericks, Thunder, and Hornets all listening to their offers. All those teams are hoping to acquire Trey Murphy III, but New Orleans is still seeking "multiple valuable assets" to part with him. If the Pelicans are able to obtain a lottery pick, they like Nate Ament and Cameron Carr as potential targets.

4. Dallas Shops Daniel Gafford

The Mavericks have been working the phones in hopes of moving back into the top half of the draft. Sources say the Mavericks have been shopping center Daniel Gafford and their 30th pick over the past week in hopes of moving into the top 20. The Raptors at No. 19 and Hornets at Nos. 14 and 18 are cited as teams that might be interested, with Cameron Carr and Labaron Philon viewed as players Dallas may target in return. The Mavericks have also recently worked out Hannes Steinbach, who could be a long-term replacement for Gafford.

5. Julius Randle Excited About Joining Brooklyn

Although he'll be moving from a 49-win team to one coming off a 20-62 season, veteran forward Julius Randle is excited by the prospect of joining the Nets and wants to be in Brooklyn, according to Michael Scotto of HoopsHype. In the trade that will send Randle to the Nets and send veteran center Nic Claxton to Chicago, Brooklyn's desire to give backup big man Day'Ron Sharpe a bigger role factored into the team's decision to trade Claxton.

6. The Kings May Waive DeMar DeRozan

Sacramento is exploring multiple paths with its veteran guard. The Kings intend to waive veteran forward DeMar DeRozan and stretch his salary over the next three years if they can't work out a trade. DeRozan's expiring contract carries a $25.74 million salary for next season that is only guaranteed for $10 million through January 10, so the move would come at minimal cost to the team's future. The Clippers are expected to have interest in signing DeRozan if he becomes available.

7. Milwaukee Targets Labaron Philon

Even with two first-round picks in hand from the Antetokounmpo trade, the Bucks have shown clear interest in a specific prospect. The Bucks, who now control the 10th and 13th overall picks in the first round, are "quite high" on Alabama guard Labaron Philon, according to Jake Fischer of The Stein Line. Philon also told Fischer that Milwaukee was the one team he worked out for multiple times during the pre-draft process.

8. Several Teams Eye Trading Down

Beyond Milwaukee's specific interest in Philon, reporting suggests a broader group of franchises were looking to move out of their first-round slots entirely. Fischer views the Spurs at No. 20, Hawks at No. 23, Knicks at No. 24, and Nuggets at No. 26 as teams that will be looking to trade down or out of the first round.

9. A Flurry of Draft-Night Pick Trades

The draft itself produced a cascade of pick swaps as teams maneuvered throughout the night. There was a lot of trade action at the end of the first round of the 2026 NBA Draft. The Cavs traded No. 29, Alex Karaban, to the Kings for multiple second-round picks. After the Knicks traded back from No. 24 to No. 25 with the Lakers, they then traded No. 25, Sergio De Larrea, to the Mavericks and got pick No. 30. That No. 30 pick then went to the Phoenix Suns, who selected Arizona's Koa Peat. The Knicks ultimately moved out of the first round entirely, picking up five second-round picks and cash in the process.

10. Lakers Trade Up for Cameron Carr

Los Angeles made one of the more notable moves of the draft's closing stretch. The Lakers came into the 2026 NBA Draft with the No. 25 pick, but they traded up with the Knicks to get Baylor's Cameron Carr with the 24th pick — a move that gave the Lakers their preferred target without having to wait deeper into the round.

Oklahoma City's Apron Constraints Loom Large

Beyond the individual trade rumors, several contending teams face significant financial pressure shaping their broader roster decisions this offseason. Including both first-round picks, Oklahoma City is $59 million over the luxury tax and is above both aprons. The Thunder have until June 29 to exercise the team options of Hartenstein, Dort, and Williams. Because Oklahoma City is an apron team, it is not allowed to use its $6.7 million trade exception, limiting the reigning champions' flexibility even as they continue evaluating roster moves around the draft.

The Bucks' Broader Rebuild Outlook

With the Antetokounmpo trade now finalized, Milwaukee faces the larger question of how quickly its retooled young core can develop. Milwaukee must decipher its next steps after reportedly trading star Giannis Antetokounmpo to Miami in an offseason swap, with the franchise now controlling significant draft capital and a roster built around Herro, Ware, Jacquez Jr., and Jakucionis as it begins charting a new direction.

With Round 2 of the draft continuing Wednesday night and free agency negotiations set to open formally on June 30, the coming days are expected to bring continued trade activity across the league. Given the scale of Tuesday night's pick-swapping alone — touching the Knicks, Lakers, Suns, Mavericks, Cavaliers, Kings, Grizzlies, Thunder, and Pistons, among others — front offices appear likely to keep using the remaining draft window and the early stages of free agency to continue reshaping their rosters in the aftermath of the league-altering Antetokounmpo trade.