The NBA trade deadline is creeping closer, but so far, it’s been unusually quiet. Compared to last season, when five in-season trades had already gone down by this point, this year has seen just one. So what’s clogging up the market?
According to conversations with league executives, there are four key reasons why trade talks are moving at a snail’s pace.
1. The Giannis Factor
Everything starts at the top - and right now, the league is waiting on Giannis Antetokounmpo. Teams are keeping their powder dry in case the two-time MVP becomes available.
Whether that means Giannis himself asks out or the Bucks decide to test the waters, the mere possibility is enough to freeze the market. No one wants to blow their best assets on a smaller deal if there’s a chance they could be in the mix for a generational talent.
2. Surprise Contenders Holding the Line
A few teams that were penciled in as potential sellers before the season have flipped the script. The Celtics, Sixers, and Suns are all in the thick of the playoff picture and chasing homecourt advantage.
That changes everything. For example, Philadelphia made moves last season to duck under the luxury tax line - this year, that kind of cost-cutting feels unlikely with the team firmly in the postseason hunt.
3. Star Injuries Dulling the Market
Then there’s the issue of diminished trade value. The Mavericks and Grizzlies are dealing with injuries to marquee names - Anthony Davis and Ja Morant - and that’s complicating any potential deals.
Davis is sidelined with ligament damage in his left hand, while Morant is dealing with a UCL sprain in his elbow after already missing time with calf problems. When stars are hurt, offers tend to underwhelm.
And with the deadline looming on February 5, it’s looking more and more like both players could stay put.
4. Cap Flexibility Over Long-Term Commitments
The fourth reason? Teams are being cautious with their books.
Rather than take on multiyear contracts that could mess with future plans, front offices are opting to ride out expiring deals and maintain cap flexibility heading into the summer. The Lakers, Bulls, and Jazz are just a few of the teams with a long list of players heading toward free agency in 2026, and they’re not eager to mess with that timeline.
Trade Rumblings: Suns Eyeing Bridges, But Chemistry Matters
The Suns have their eyes on Miles Bridges, but there’s a catch - the Hornets want a first-round pick, and Phoenix doesn’t have one that’s easily movable. According to reports, the Suns are fans of Bridges’ game, but they’re also wary of disrupting their locker room chemistry. That kind of internal harmony is hard to come by, and it sounds like Phoenix is more likely to make a smaller, less disruptive move than swing for the fences.
Doncic’s Return to Dallas: A Trade That Still Echoes
As Luka Doncic prepares for his second game back in Dallas since being traded to the Lakers last February, new details are emerging about why the Mavericks made such a shocking move.
At the time, the front office - led by then-head of basketball operations Nico Harrison - had concerns about Doncic’s conditioning and long-term durability, especially after a calf strain in December 2024. One source inside the organization even drew a colorful comparison, saying the Lakers “got skinny Elvis,” implying the trade served as a wake-up call for Doncic to get into better shape.
But those close to Doncic push back on that narrative. They argue the Slovenian star was already on a path toward improving his diet and conditioning as he matured, regardless of where he played. Now, Doncic and his camp are focused on the present and future, not the past.
It’s worth remembering: it took the Mavericks several seasons to build a Finals-caliber roster around Doncic. The Lakers are now in the early stages of doing the same. Sources in L.A. say the team knows it needs to add athleticism, shooting, and defensive punch to truly contend - but the sense is that any big moves will wait until the offseason.
Dallas’ Front Office Search Underway
Back in Dallas, the Mavericks have started vetting candidates to replace Nico Harrison, but don’t expect a hire anytime soon. The team is likely to wait until at least the spring to make a decision.
After taking a swing on a high-upside candidate with no prior front office experience - Harrison came straight from Nike - the Mavs are expected to take a more cautious route this time around. According to league sources, the next hire will likely come with a more traditional NBA background.
As one insider put it, Dallas is “going to over-index on the safety aspect of it.”
So while the trade market has been slow to heat up, there’s no shortage of intrigue bubbling beneath the surface. Whether it’s the looming shadow of a potential Giannis move, the ripple effects of the Doncic trade, or teams playing the long game with their cap space, the NBA’s midseason chessboard is as complex as ever. The deals may not be flying yet - but make no mistake, the tension is building.