The Atlanta Hawks and Houston Rockets didn’t just make moves on Day 1 of 2025 NBA free agency — they made early statements.
Atlanta bolstered its roster by adding two key pieces in Nickeil Alexander-Walker and sharpshooter Luke Kennard, continuing an aggressive offseason.
Meanwhile, the Houston Rockets carried on their dramatic roster overhaul by reuniting with Clint Capela and signing Dorian Finney-Smith, further reinforcing a lineup already headlined by Kevin Durant.
All developments were reported by ESPN’s senior NBA insider Shams Charania.
Nuggets and Grizzlies also had strong first days 👀
— NBA on ESPN (@ESPNNBA) July 1, 2025
Thoughts? 🤔
The Hawks acquired Alexander-Walker in a sign-and-trade deal with the Minnesota Timberwolves worth four years and $62 million. In return, Atlanta sent a 2027 second-round pick via Cleveland and cash considerations to Minnesota.
Free agent Nickeil Alexander-Walker has agreed to a four-year, $62 million deal with the Atlanta Hawks, plus a player option and trade kicker, sources tell ESPN. CAA Co-Heads of Basketball Aaron Mintz/Austin Brown and Steven Heumann reached the contract with the Hawks tonight.
— Shams Charania (@ShamsCharania) July 1, 2025
Alexander-Walker, 26, is coming off a career season in which he set personal bests in total points, assists, rebounds and three-pointers made. Over the past two seasons, he shot 38.6% from beyond the arc and emerged as one of the league’s top perimeter defenders.
He also appeared in all 82 games for the second straight year and made Timberwolves postseason history this spring as the first bench player in franchise history to post multiple 20-point games in a single playoff run.
Shortly after, Atlanta agreed to a one-year, $11 million deal with Kennard, one of the NBA’s most consistent long-range shooters.
Free agent sharpshooter Luke Kennard has agreed to a one-year, $11 million deal with the Atlanta Hawks, sources tell ESPN. Kennard has been one of the best 3-point shooters in the NBA, and Atlanta negotiated the new deal with CAA's Aaron Mintz and Dave Spahn.
— Shams Charania (@ShamsCharania) July 1, 2025
The 29-year-old guard has twice led the league in three-point percentage and shot 43.3% from deep last season on four attempts per game for the Memphis Grizzlies.
Charania also reported that Hawks star Trae Young played a key role in recruiting both Alexander-Walker and Kennard.
The pair join a reshaped Atlanta roster that also recently added Kristaps Porzingis via trade from the Boston Celtics. With reigning Defensive Player of the Year Jalen Johnson and 2024 no. 1 pick Zaccharie Risacher also in the fold, the Hawks are aiming to return to Eastern Conference contention with a more balanced and versatile lineup around Young.
[ALSO READ: Celtics deal former champ Kristaps Porzingis to Hawks in three-team trade — reports]
In Houston, the Rockets added more depth and experience by bringing back Capela, who spent the first six years of his career with the team, on a reported three-year $21.5 million deal.
Free agent center Clint Capela has agreed to a three-year, $21.5 million deal with the Houston Rockets, sources tell ESPN. Major frontcourt addition – and return to Houston for Capela.
— Shams Charania (@ShamsCharania) June 30, 2025
The 31-year-old center averaged 8.9 points and 8.5 rebounds in 55 games for Atlanta last season. While no longer a nightly double-double threat, Capela provides valuable rim protection and rebounding behind All-Star center Alperen Sengün and veteran Steven Adams.
The Rockets also landed Finney-Smith on a four-year, $53 million deal. The 32-year-old 3-and-D forward heads to his third team in two seasons after stints with the Brooklyn Nets and Los Angeles Lakers, following a seven-year run with the Dallas Mavericks.
Free agent forward Dorian Finney-Smith has agreed to a four-year, $53 million deal with the Houston Rockets, sources tell ESPN. Finney-Smith's agent, Michael Tellem of Excel Sports, negotiated terms of the deal tonight with Rockets executives for the 3-and-D wing.
— Shams Charania (@ShamsCharania) June 30, 2025
He emerged as a key playoff contributor during Dallas’ 2022 run to the Western Conference finals and averaged 7.9 points while shooting 39.8% from 3-point range in 43 games with the Lakers last season.
Meanwhile, the Dallas Mavericks quietly made a move of their own, signing veteran guard D’Angelo Russell to a two-year, $13 million contract.
Breaking: Free agent guard D'Angelo Russell has agreed on a two-year, $13 million deal with the Dallas Mavericks, sources tell ESPN. Mavericks officials and CAA Co-Heads of Basketball Austin Brown/Aaron Mintz and Antonio Russell reached the new contract after free agency began.
— Shams Charania (@ShamsCharania) June 30, 2025
Russell, 29, is expected to start in place of Kyrie Irving, who is recovering from a torn ACL but recently signed a three-year, $119 million extension with Dallas.
[ALSO READ: Mavericks star Kyrie Irving to sign new long-term deal with Dallas– reports]
The 10-year vet averaged 12.6 points and 5.1 assists last season in stints with the Lakers and Nets.
He now joins a Mavericks team that recently selected Cooper Flagg with the first overall pick in the 2025 NBA Draft, as Dallas looks to remain competitive while Irving works toward a return in early 2026.
[ALSO READ: As expected, Mavericks take Cooper Flagg as no. 1 pick of 2025 NBA Draft]
