NBA Trade Rumors 2025-26: While Anthony Davis gets headlines, Mavericks to ‘explore’ Klay Thompson trade
Front office personnel from around the league gather in Orlando starting today (Dec. 19) for the G-League showcase. And while the GMs are keeping one eye on the prospects on the court, there is a lot more action off it as this is when trade deal-making really starts to get done.
Where do things stand? Here are the latest rumors on some of the biggest names (if you want the latest on Giannis Antetokounmpo, click here).
Anthony Davis
Davis is the biggest name and best player known to be available at the trade deadline — Antetokounmpo doesn’t count until he actually asks for a trade and the Bucks start talking to teams — but the Dallas Mavericks are not looking just to dump Davis’ contract. This was the main guy they got in return for Luka Doncic, and while Nico Harrison is gone, the Mavericks still want a lot in return for AD, reports Marc Stein at The Stein Line.
“Sources say Dallas, furthermore, is not at all interested in just shedding Davis’ contract, which is essentially the same deal as Antetokounmpo’s in Milwaukee. The Mavericks have maintained to date that they would only be willing to part with the centerpiece of their infamous [Luka] Doncić deal last February if the trade brings back a return of real consequence.”
Dallas’ problem? A market that brings “a return of real consequence” does not seem to exist right now. Davis, being 32 and having played in just a dozen games this season due to nagging injuries, and wanting a contract extension this offseason, has limited his market. That said, for optics reasons, Dallas has to get a big haul in any Davis trade.
Atlanta and Toronto are the teams most mentioned as teams interested in Davis — teams in the East who see themselves as close and one player away. Detroit gets brought up as a possibility, too, although its level of interest is up for debate.
Much like Antetokounmpo, a Davis trade is more likely to happen in the offseason than at the deadline. That said, the Mavericks are entertaining offers.
Klay Thompson
Another player Dallas will explore the trade market for is Klay Thompson, reports ESPN’s Anthony Slater and Tim MacMahon.
The bigger question: How much of a market is there for Thompson right now? How much of a return could Dallas get?
Thompson, 35, is averaging 10.8 points a game, largely coming off the bench in Dallas. He can still hit big shots, but he’s shooting 35.7% from 3-point range this season — although that has jumped to above 40% in his last 10 games — and he is not near the defender he used to be. He is making $16.7 million this season and is owed $17.5 million next season, complicating matters for teams that might have interest in him.
Lauri Markkanen
Despite interest from teams such as Detroit, Memphis, and maybe San Antonio (where he would be an upgrade in the Harrison Barnes spot), the Utah Jazz are signaling to teams so far that they plan to hold on to Lauri Markkanen and Walker Kessler, reports Michael Scotto of Hoopshype.
At this point, however, Utah has signaled a desire to build with Markkanen despite constant trade interest in his services, HoopsHype has learned.
Utah owes its first-round pick to the Thunder, but it is top-eight-protected. Utah currently has the eighth-worst record in the league, which means that if the NBA Draft Lottery were held today, the Jazz would have a 60.7% chance of keeping their picks. Are those odds good enough for Utah, or will they look to trade Markkanen to improve them (Kessler is off the table)?
Ivica Zubac
With the Clippers struggling and looking more and more like a team in need of a pivot, a lot of other front offices are watching, waiting and checking in to see if LA becomes a seller at the trade deadline. Even if they are open to it, don’t expect deals for high-priced veterans with baggage — such as James Harden or Kawhi Leonard — to come in February.
Ivica Zubac is another story. Teams are interested in the underrated big man, but the Clippers are not interested, The Ringer’s Zach Lowe said on the Bill Simmons podcast.
“The Clippers have shoved away people calling, because the vultures are circling with Zubac. And the Clippers are shoving people away.”
While the Clippers have set themselves up for a pivot with the books cleared in 2027, there is just one rotation player with a contract that extends beyond that — Zubac. The Clippers see him as part of whatever comes next at the Intuit Dome. It would take a lot to pry him out of LA.
The Clippers’ struggles on the perimeter have defenses collapsing on him and focusing more on Zubac, yet he is still averaging 16.2 points, 11.5 rebounds (third most in the league), and is shooting 61.3% this season.
Nick Richards
If Zubac isn’t available, one of the big men eyed by a lot of teams is Phoenix big man Nick Richards, but the Suns are being patient, reports the tied in John Gambadoro of Arizona Sports 98.7 in Phoenix.
This was discussed but is not going to happen. Toronto and multiple teams have reached out about Nick Richards. He’s third on the depth chart and has a good expiring contract. The Suns will get Jalen Green back soon and by the end of January they should have a better feel for… https://t.co/oqEXGKC248
— John Gambadoro (@Gambo987) December 18, 2025
The Suns and Raptors reportedly discussed a trade that would have sent Richards to Toronto in exchange for Ochai Agbaji and a second-round pick, but those talks are on hold.
• One team looking to trade for a big man is Indiana, which misses what Myles Turner brought to the table. They have called Utah about Walker Kessler and been shot down, and have engaged Dallas in talks about Daniel Gafford, who is available but the price will be steep.
Sacramento sellers
The Kings are open for business and there is some interest in Domantas Sabonis, but less so in DeMar DeRozan and Zach LaVine.
However, it’s not those big names that are drawing the most talk in league circles, it’s Keon Ellis and Keegan Murray — and the Kings will not talk Murray trade. Here is how Marc Stein put it at The Stein Line.
The Kings have largely been open to fielding trade calls on pretty much anyone on the roster outside of Keegan Murray and rookie Nique Clifford but have also been telling potential trade partners that they do not intend to attach draft capital to veteran contracts to try to move them … or use Keon Ellis’ contract to try to sweeten deals. Ellis has been attracting trade feelers for some time given the leaguewide dearth of 3-and-D players currently available.
Expect Sabonis trade chatter to pick up, but if a team wants Ellis it’s going to cost them.