As the NBA trade deadline approached, there were speculations that it might be less eventful this year due to teams being cautious about salary cap and luxury tax implications.

However, those thoughts were quickly dismissed when Luka Doncic and Anthony Davis were traded. This initiated a whirlwind of other transactions involving prominent players, All-Stars, and former NBA champions just before the deadline closed on Thursday at 3 p.m. ET.

Other notable players who changed teams included De’Aaron Fox, Jimmy Butler, Zach LaVine, Kyle Kuzma, Brandon Ingram, and Khris Middleton.

The impact of these trades on the respective teams will unfold as the season progresses, but this week has been one of the most exciting for NBA trades in recent memory.

Here’s a look at who emerged as winners and losers from the trade deadline:

NBA Trade Deadline Winners and Losers

Winners

Los Angeles Lakers

The Lakers successfully acquired star guard Luka Doncic and center Mark Williams. This positions them favorably to compete now while also planning for the future once LeBron James steps away. Doncic is a strong MVP candidate, and when fit, Williams—who will take over for Anthony Davis—is an effective big man to complement Doncic and James in pick-and-roll plays. It’s rare for a franchise to land a star like Doncic, making this trade one of the most remarkable in NBA history.

Luka Doncic

Doncic finds himself with a franchise known for supporting its star players, receiving abundant backing since the trade. He now has the task of demonstrating his ability to play solid defense, maintain excellent fitness, and minimize complaints about officiating while showcasing his elite offensive skills, all while playing in the spotlight of Hollywood.

San Antonio Spurs/De’Aaron Fox

The Spurs were in search of a long-term point guard to develop alongside promising talent Victor Wembanyama, while Fox expressed a desire to join the team. Their goals aligned perfectly. In his debut, Fox scored 24 points, assisted 13, grabbed five rebounds, and made three steals, making history as the first player in Spurs history to achieve over 20 points and 10 assists in his first game. Wembanyama also contributed with 24 points and 12 rebounds, indicating a strong potential partnership for the future.

Jimmy Butler

Butler managed to negotiate his way out of the Miami Heat, facing challenges including financial setbacks from suspensions in January. He secured a spot on one of his top two preferred teams, the Golden State Warriors, where he will play alongside Steph Curry for an organization striving for another championship while Curry continues to perform at an All-Star level. Butler is expected to have a more significant role offensively than he did with the Heat and has also signed a contract extension with the Warriors worth $121 million over two years in 2025-26 and 2026-27.

De’Andre Hunter

Hunter transitioned from the struggling Atlanta Hawks, who are below .500, to the impressive 41-10 Cleveland Cavaliers, enhancing his chances of contending for a title.

Losers

Dallas Mavericks

The decision to trade Doncic has created a public relations disaster for the Mavericks, frustrating both their fans and Doncic’s supporters. Even if this move turns out to be advantageous for Dallas in the long run, the initial public perception is overwhelmingly negative. The Mavericks received Anthony Davis, Max Christie, and a first-round pick in exchange for Doncic, but right now, the public response is not favorable. No matter how the Mavericks attempt to frame the situation, fans are left unsatisfied.

Memphis Grizzlies

Sitting second in the Western Conference at 35-16, the Grizzlies aimed to make a move to close the gap with the top-ranked Oklahoma City but ended up with nothing significant. They attempted to increase their roster flexibility by trading Marcus Smart to Washington, which required them to part with a 2025 first-round pick, even if it is projected to be late. The Grizzlies have shown talent in late-draft selections in the past, with players like Desmond Bane (30th pick in 2020) and rookie Jaylen Wells (39th pick).

Phoenix Suns

The Suns were eager to make a big trade to bolster their lineup with hopes of climbing the standings for a deeper playoff run alongside Kevin Durant and Devin Booker. However, they faced obstacles, including Bradley Beal’s refusal to waive his no-trade clause, and consequently had to settle for trading Jusuf Nurkic along with a first-round pick to Charlotte for Cody Martin, Vasilije Micic, and a second-round pick. If the team struggles, Durant may become restless in Phoenix.

New Orleans Pelicans

The Pelicans aimed to avoid falling into luxury tax territory by trading both Brandon Ingram and Daniel Theis, and while this strategy was sound, it did raise some concerns. Injuries have hindered their ability to utilize key players like Zion Williamson during the season, which prevented the team from experiencing their full potential with Williamson, Ingram, and Dejounte Murray all on the court together. They have yet to play together this season.

Khris Middleton

This situation reflects nothing on Middleton as a player but rather highlights a significant change. He has moved from a championship-contending team (the Milwaukee Bucks) to the lowest-ranked team in the NBA (the Washington Wizards).

Follow NBA reporter Jeff Zillgitt on social media @JeffZillgitt