LAS VEGAS —On the day that 79 players who signed contracts last summer become eligible to be traded, that and the NBA Cup will be the focus of this week's NBA Power Rankings. That loss in the Cup does not change who is on top of this list.
1. Oklahoma City Thunder
(24-2, last week No. 1)
A veteran NBA media member told me this week he thinks this season's Thunder is the best team he's seen since the Kobe/Shaq Lakers. I would argue these Thunder have the potential to be the best since the Curry/Durant/Green Warriors. Whatever comparison you want to make, we are talking rarified air and a team with a legitimate shot at breaking the Warriors' 73-win record (as long as there are no more games in Las Vegas, where this team struggles to shoot for some reason and did so again in an NBA Cup loss to San Antonio). Does getting that record matter to the Thunder? "Absolutely," Shai Gilgeous-Alexander said. "Winning matters, and no matter what form it looks like to me. So absolutely."
2. New York Knicks
(18-7, last week No. 3)
New York will be playing for the NBA Cup Tuesday night thanks to a 40-spot against Orlando from Jalen Brunson, who has positioned himself to be tournament MVP if the Knicks pick up the win. The Knicks are also positioned to be in the middle of the Giannis Antetokounmpo trade sweepstakes (if he finally demands a trade), but the sense in league circles is that the Knicks really like their team right now and are not inclined to overpay and blow it up to land the two-time MVP. Especially if he is just going to force his way to New York next summer anyway.
3. Detroit Pistons
(20-5, last week No. 2)
Detroit is going to come up in trade rumors as a team looking for an upgrade — Lauri Markkanen would be a perfect fit for them if he can be pried out of Utah, Anthony Davis gets mentioned — but don't expect them to blow this thing up to make a deal. Detroit is the first team in the East to 20 wins, it has a top-10 offense and defense, and an All-NBA leader in Cade Cunningham. This team already has a shot to come out of the East, they don't need a desperation move to contend now. The Pistons will wait for the right deal, and if they stand pat at the deadline this is still a team to be feared in the East.
4. Houston Rockets
(16-6, last week No. 4)
Last summer, the Rockets made their big swing in trading for Kevin Durant (and paying Bradley Beal nearly $100 million to go away), yet this team gets mentioned as willing to take another big swing and go after Giannis Antetokounmpo, or maybe a point guard (with Fred VanVleet out). The Rockets need to ask themselves whether they are better off giving up more young players (it would likely take Alperen Sengun or Amen Thompson) and picks to go after Antetokounmpo, or better off riding it out with the contending team they have. More and more, the sense in league circles is that the Rockets may not go all-in on Antetokounmpo if he becomes available. Check out a great showdown with Denver on NBA Peacock Monday.
5. Denver Nuggets
(18-6, last week No. 5)
The Nuggets are 6-3 so far in games without two starters, Aaron Gordon and Christian Braun. Denver put together a roster it really liked this offseason — it's been elite offensively (as to be expected with Nikola Jokic playing like an MVP) and good enough defensively. Don't expect them to make a move at the deadline, but with two games against the Rockets this week as measuring sticks — one on NBA Peacock Monday — maybe Denver feels differently after those contests.
6. Minnesota Timberwolves
(17-9, last week No. 6)
The Timberwolves are seen around the league as buyers heading into the deadline — they have been linked to Giannis Antetokounmpo, but more practically they are looking for a starting point guard and have been tied to the Bulls' Coby White. Minnesota decision-maker Tim Connelly tends to be aggressive, and this team, with Finals aspirations, seems to have taken a step back this season despite improved play from Anthony Edwards. Expect something to happen. Also of note: The Minnesota starting five of Donte DiVincenzo, Anthony Edwards, Jaden McDaniels, Julius Randle and Rudy Gobert is the most heavily used lineup in the NBA this season (245 minutes, which is 78 more than any other five-man lineup in the league), and they have a 12.7 net rating.
7. Boston Celtics
(15-10, last week No. 7)
The Celtics are an interesting team to watch at the trade deadline: They are playing well, and it more and more looks like they will get Jayson Tatum back from his torn Achilles this season — with him and Jaylen Brown in this wide-open East, Boston would have a chance. However, they are also just a little over $12 million into the luxury tax, and ownership might want a move to dip below that line for a year. If it happens, it would be an Anfernee Simons trade to a team room under the tax. Ultimately, Boston may look at the East and just decide to stand pat and take their chances with this group.
8. San Antonio Spurs
(18-7, last week No. 10)
Victor Wembanyama made his return to the court in the NBA Cup semifinals and instantly changed the game the second he stepped on the court. He is a force and gives the Spurs a legit chance to win the NBA Cup and use that as a stepping stone for an improving team. What's impressive is the Spurs' 9-3 record with Wemby out, as their offense has covered for a struggling defense. Their guards — De'Aaron Fox, Stephon Castle, Dylan Harper and Devin Vassell — were blowing by their defenders and touching the paint, then either finishing or kicking out for an open 3-pointers. In terms of trades, the Spurs get mentioned a lot in Giannis Antetokounmpo rumors, but this team is playing so well right now that the feeling is that San Antonio would rather play things out with the guys they have rather than make an all-in move.
9. Los Angeles Lakers
(18-7, last week No. 8)
The Lakers are 6-2 in games where Luka Doncic, LeBron James and Austin Reaves all play, but the team has a -5.1 net rating in the minutes all three of them are on the court together. The Lakers' defensive struggles were highlighted in the NBA Cup loss to the Spurs, where the biggest issues were containing drives at the point of attack and getting back in transition. "They [the Spurs] were just going downhill [to] drive and kick. They scored..." Luka Doncic said. "Just each one of us [have] gotta guard better and not let your guard drive that way." While the Lakers are one of the top four teams in the West, their ability to get stops remains the big question — does their defense put a cap on how good they can be? The Lakers' offense, especially in a playoff series, should be elite with Doncic, Reaves, and LeBron, and it could cover up an average defense, but the Lakers are currently 20th in the league in defensive rating and have work to do to get to average. As an added note, don't forget that the guy who turns 41 later this month can still do this.
10. Orlando Magic
(15-11, last week No. 9)
While the news on Franz Wagner is as good as could have been hoped for — it looked so much worse when the injury happened — he's still going to be out around a month (high ankle sprain). Wagner's absence means we get to see what this team looks like with lineup of three guards, Banchero and a center — the lineups that thrived with Wagner as the four while Banchero was out. Those lineups with Banchero back were good enough to get the team an NBA Cup win against Miami and, with that, a trip to Las Vegas and the NBA Cup semifinals, where they fell to the Knicks in a good measuring-stick game for the playoffs. Orlando gets mentioned in trade rumors every time a floor general point guard comes up, but it would have to be the right deal to get them to act, as Anthony Black is starting to find his footing in that role.
11. Cleveland Cavaliers
(15-12, last week No. 13)
These Cavaliers are a good team — top 10 in the league in both offense and defense this season — but they have not come close to living up to expectations. If the postseason started today, the preseason conference favorites would be in the play-in. Is it time to shake things up in Cleveland, possibly trading Jarrett Allen — Evan Mobley is already playing a lot more at the five — to bring in shooting and/or defense on the wing? Shooting matters, the Cavaliers lead the league in 3-point attempts a game at 44.1 a game, but they are hitting just 33.9% of those (28th in the league). After a recent loss to Portland, coach Kenny Atkinson bemoaned half a dozen of his team's 3-point attempts, wishing the player had driven to the rim. It's something to watch. The Celtics have interesting games this week against the Pistons, Heat and Raptors.
12. Philadelphia 76ers
(14-11, last week No. 15)
Joel Embiid has played 30+ minutes in three straight games for the 76ers, and Paul George scored 35 against the Hawks, his highest total since coming to Philadelphia. However, in a sign of how much Tyrese Maxey, Philly lost to Atlanta despite Embiid and George playing well. There aren't many trade rumors flying around Philadelphia, which is a little odd for a Daryl Morey team, but I think they just want to get the group they have healthy. If a trade is found, it likely involves sending out Kelly Oubre Jr. (who remains out with a left knee sprain).
13. Miami Heat
(14-11, last week No. 12)
Miami's slump of late continued in the NBA Cup, with a loss to Orlando in the quarterfinals, meaning no trip to Las Vegas. The Heat are still a roster figuring out what works best for them. For example, with Bam Adebayo and Kel'el Ware both finally healthy, Erik Spoelstra said he wants to see what the Heat look like with both bigs on the floor. So far this season, in 123 minutes, they have a -12.5 net rating, which is not great, but Spoelstra told Anthony Chiang of the Miami Herald he wants to give it a longer look: "I just want to see that group, when we play bigger, just for it to be a plus. So we have some work to do there. It should be a very good defensive group, but that's a group that hasn't been able to defend so far."
14. Toronto Raptors
(15-11, last week No. 11)
Trade rumors in Toronto swirled around RJ Barrett, but then he went out with a sprained knee and the team has gone 1-6 without him. They need Barrett, and he is set to return this week, the team announced. Toronto is mentioned as a dark-horse contender for Antetokounmpo, as well as in other trades, but any significant deal would likely mean sending Barrett out. Do the Raptors want to do that, or are they comfortable riding it out with the guys they have?
15. Phoenix Suns
(14-12, last week No. 14)
Phoenix reshaped its roster with bold moves over the summer, which has paid off with a better-than-expected team. That said, the Suns have gone 2-5 in their last seven and got obliterated by the Thunder in the NBA Cup quarterfinals. If the Suns decide they need to do something and make a trade at the deadline, look for center Nick Richards to be in the deal (Phoenix is deep at the five, and there are teams looking for depth at that position).
16. Atlanta Hawks
(15-12, last week No. 16)
The Hawks get mentioned in a lot of trade rumors. If Antetokounmpo finally demands a trade out of Milwaukee, and if the Hawks are willing to part with the rights to the Pelicans' pick in the 2026 NBA Draft — two huge "ifs" — this team could be one of the frontrunners to land the two-time MVP. One way or another, expect the Hawks to be active around the trade deadline. The one guy unquestionably off limits: Jalen Johnson. He has put up a triple-double in four straight games.
17. Golden State Warriors
(13-14, last week No. 17)
Golden State will try to trade Jonathan Kuminga at the deadline (he can't be traded until Jan. 15), ideally bringing back a player who better fits their style of play. In a sign of where things stand with this season's Warriors, Stephen Curry returned from his injury over the weekend and dropped 48 on the Trail Blazers, but Golden State still lost. Curry now has more 40+ point games after age 30 than any player in NBA history, passing Michael Jordan.
18. Memphis Grizzlies
(11-14, last week No. 18)
Ja Morant returned to the court, but Memphis went 7-3 in the games he missed with a strained calf, which has led to speculation the Grizzlies might move on and trade the star at the deadline. Don't bet on it. The primary hurdle is a limited market for Morant and a poor return in any deal (maybe there is a team looking to swap bad contracts, but that's not something Memphis' decision-maker, Zach Kleinman, would be interested in). Morant is likely going to be with the Grizzlies through the end of the season. The question becomes, when he gets his legs back under him, can Morant blend in and accentuate what has been working in his absence?
19. Dallas Mavericks
(10-16, last week No. 19)
Dallas is going to look for an Anthony Davis trade at the deadline, but the market for a 32-year-old with an injury history and wanting a contract extension is going to be limited (as good as Davis still is when healthy — he can help teams). It feels more likely that Daniel Gafford will be the Maverick on the move at the trade deadline, as a lot of teams are looking for depth at the five, and Gafford is a rock-solid, two-way pick-and-roll big man. His name will come up a lot.
20. Portland Trail Blazers
(10-16, last week No. 20)
Don't expect a big move on the trade market from the Trail Blazers, nor is it time for them to make a big swing. They need to develop the young players on the roster (and figure out the coaching situation long term), big moves can wait. That said, don't be surprised if Robert Williams III gets traded, there are a lot of teams looking for depth at the five, and Portland needs to get back shooting.
21. Milwaukee Bucks
(11-16, last week No. 21)
As of right now, Giannis Antetokounmpo has not demanded a trade and is not available. Until he is willing to be the bad guy and knock over the first domino, nothing else is going to fall in place for the most discussed name around the league. Antetokounmpo is sidelined with a calf strain, and in a sign of how much this team needs him, they lost by 45 to Brooklyn over the weekend without him (that said, they also snapped Boston's five-game win streak without him). The Bucks need to get right, they have dropped seven in a row on the road and, starting over the weekend in Minnesota, Milwaukee has a road-heavy schedule for the next few weeks.
22. Charlotte Hornets
(8-18, last week No. 22)
LaMelo Ball is the big name that comes up in Charlotte trade rumors, but there isn't much of a market for him because of his history of injuries, traits that drive coaches crazy (particularly on defense) and the fact that he is owed $46.4 million next season. If Ball is traded, it's far more likely to come next offseason. Teams are not calling too much about Ball, but they are calling about Collin Sexton, that's a name to watch.
23. Utah Jazz
(9-15, last week No. 23)
If the Ainge family makes Lauri Markkanen available at the trade deadline, there will be a lineup of suitors. Other teams think the Jazz should trade him and tank harder to hold on to their top-eight-protected first-round pick (the Jazz would currently enter the lottery with the eighth-worst record and a 60% chance to retain their pick, otherwise the Thunder get richer). George Niang is a couple of weeks away from a return from his foot injury, if he comes back and plays well the Jazz will get calls about him from playoff teams looking to add shooting and depth.
24. Chicago Bulls
(10-15, last week No. 26)
Chicago was linked to Anthony Davis as a feel-good homecoming story — except there seems to be no truth to it. Marc Stein poured cold water on the rumor recently, saying there is no sign the Bulls are interested. Why should they be? This is a team rebuilding around Josh Giddey, why would they trade for an expensive, 32-year-old win now center? There are a lot of teams calling about Coby White, and if the Bulls don't want to pay up for the free agent-to-be this summer, they should trade him at the deadline and get something of quality in return.
25. Brooklyn Nets
(7-18, last week No. 25)
If there is a blockbuster trade at the deadline, look for Brooklyn to be the third team in because they have $15.3 million in cap space to help facilitate a deal (and get some draft picks or a young player in the process). The Nets have won 4-of-6, at the deadline last season the Nets sent talent out because Jordi Fernandez is such a good coach he was winning with what they had. That could happen again at the deadline.
26. Indiana Pacers
(6-20, last week No. 24)
If you want to know why the Pacers have struggled more than expected this season, if you want to know how hard injuries have hit them, it's this simple: Aaron Nesmith, Bennedict Mathurin, Andrew Nembhard and Pascal Siakam have been on the court together for a total of seven minutes this season. With Mathurin set to be a restricted free agent this offseason, teams are going to call and see if he's available. The Pacers like him, but if they're not going to pay up to keep him long term this summer, then they may trade him to get something back.
27. Los Angeles Clippers
(6-19, last week No. 28)
The Clippers have struggled mightily in the clutch this season, going 2-10 with a -17.6 net rating in games within five points in the final five minutes. Never was that more evident then in Houston last Thursday night, when the Clippers were down 114-111 with 8.7 seconds left and needed to inbound the ball and get it up court to attempt a game-tying 3-pointer, but nobody came back to inbound the ball. When Nicolas Batum finally did, nobody else came back to give him a person to inbound the ball to, and the result was Batum stepping over the line trying to make a pass. The Clippers' problems are such that there is no trade to make that changes this season for them (and while teams are watching, them trading James Harden or Kawhi Leonard at the deadline is highly unlikely). This is the roster and the Clippers need to figure it out with three quarters of a season remaining.
28. Sacramento Kings
(6-20, last week No. 27)
Everyone talks about the Kings trying to trade their stars — Domantas Sabonis, DeMar DeRozan, Zach LaVine, and teams are calling about them — the name to watch is Keon Ellis. The 3&D guard is in demand around the league, with the Lakers among the teams checking to see what the price might be in a deal.
29. New Orleans Pelicans
(5-22, last week No. 30)
Team president Joe Dumars has taken a lot of criticism for giving up control of the team's first-round pick in the deep 2026 NBA Draft — a pick that would enter the lottery No. 2 as of right now — to move up 10 spots and get Derik Queen in the last draft. Dumars defended the move, speaking to ESPN: It simply came down to we have this guard that we really, really love and this young big that we really, really love. Let's go for it. I know we paid a big price for it, but it's not like we're unhappy with what we got. We like what we have as foundational pieces for the long term here." Just for the record, it is possible to like a player — Queen has been fantastic this season — and think the process was flawed and the price to land him too high.
30. Washington Wizards
(4-20, last week No. 29)
Can the Wizards find a new home for CJ McCollum or Khris Middleton? McCollum is in the final year of his contract and has shown he can still put up points (not as consistently or efficiently as he once did, but he can still get a bucket), which means he should have teams interested in him. The Wizards have two games against the red-hot Spurs this week, that's going to be rough.
