During the NBA free agency, teams start their negotiations to sign unrestricted free agents. A free agent is a player who is not under contract with any team after the end of a season. This allows the player to field offers and sign with whichever team. Free agency gives players freedom and leverage to decide where they want to play next.
The creation of free agency in the NBA goes back to 1988, when a new collective bargaining agreement (CBA) was reached between the league and players association. This CBA included the "Larry Bird exception" which enabled teams to exceed the salary cap to re-sign their own players. It paved the way for true free agency which began taking shape in the 1990s. Players were now free to negotiate contracts with other teams once their deals expired.
In today's NBA, the free agent frenzy begins once the playoffs end in June. Teams must make decisions on player options, qualifying offers, and team options to establish who will officially become free agents. The "negotiating window" opens where teams can contact free agents to discuss terms and make offers. However, no contracts can officially be signed until the start of the new league year at 6 P.M. on July 1. This marks the official annual start of free agency in the NBA when a flurry of signings occurs as teams bid for players.
The free agency period runs for roughly three months from July to September. It brings excitement for teams and fans as rosters take shape leading into the next season. Major power shifts can happen depending on where star free agents decide to sign.
NBA Free Agency Start Date
NBA free agency begins on June 30 at 6:00 PM EST. However, a moratorium period prevents any contracts from officially being signed until July 6. This means that teams are allowed to make verbal agreements with players till July 6.
No free agent contracts or trades can formally go through until the NBA moratorium lifts on July 6. This waiting period is designed to give the league time to calculate the salary cap and luxury tax figures for the next year with all the updated payroll information.
The deadline for teams to withdraw qualifying offers to restricted free agents is also July 6. After July 6, the floodgates open for signed contracts and trades to be officially completed and processed by the league. So early July marks the frenzied time for verbal agreements to turn into formal signings as teams look to finalize rosters before summer league begins.
The opportunity for teams to upgrade is why this free agent negotiating period brings excitement and headlines across the basketball world regarding which stars switch teams.
FAQs
A. Anthony Davis, LeBron James, Jaylen Brown and Pascal Siakam are top free agents in 2024.
A. NBA free agency for the summer of 2023 opened at 6 PM on June 30.
A. Free agency first started in 1988.
A. Tom Chambers was the first free agent in the NBA.
