The 2022 offseason came to a screeching halt after the first several days. Yes, there were some fireworks early on with some of the trades, and there should be some more if Donovan Mitchell, Kevin Durant, and Kyrie Irving are moved. But in the free agency front, this was probably one of the more uneventful offseasons in recent memory.
This result wasn’t unexpected. Last year we previewed the 2022 offseason and came to the conclusion that the volume of extensions being signed due to the stalling of the salary cap in 2020 would lead to fewer high-quality free agents over the coming years. Only four teams had significant cap space this offseason but only the Knicks used it to sign players to improve their roster. The Spurs, Pacers, and Pistons all still have cap space and are likely to use it for non-competitive purposes.
The 2023 free agent market may not be any different. As of now, there are more teams projected to have significant cap space, which in theory should suggest a more robust market than in 2022. However, most of the teams are in the middle of rebuilds where they’re focused on accumulating draft picks and developing their young players. It’s possible we just get more teams rolling over their cap space like this offseason.