2025-26 NBA Trade Rumors: As Anthony Davis Makes News, Mavericks ‘Explore’ Klay Thompson Trade

Front office personnel from around the league gather in Orlando starting today (December 19) for the G-League showcase. And while GMs keep an eye on the prospects on the field, there’s a lot more action ahead, as this is when trade deals really start to get done.

Where are things at? Here are the latest rumors on some of the biggest names (if you want the latest on Giannis Antetokounmpo, click here).

Announcement

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 aren’t just looking to unload Davis’ contract. This was the main man they got in exchange for Luka Doncic, and while Nico Harrison is gone, the Mavericks still want a lot in exchange for AD, reports Marc Stein at The Stein Line.

“Sources say that Dallas is also not at all interested in simply giving up Davis’ contract, which is essentially the same deal as Antetokounmpo in Milwaukee. The Mavericks have maintained so far that they would only be willing to part with their infamous star [Luka] The agreement with Doncić last February if the exchange will bring a return of real importance.”

Dallas’ problem? A market that brings “a return of real importance” does not appear to exist at this time. Davis, being 32 years old and having played only a dozen games this season due to nagging injuries, and wanting a contract extension this offseason, has limited his market. That said, for reasons of optics, Dallas needs to get a big haul in any Davis trade.

Announcement

Atlanta and Toronto are the teams most mentioned as teams interested in Davis: Eastern teams that are seen as close and one player away. Detroit is also considered a possibility, 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 attractive offers.

Klay Thompson

Another player Dallas will explore the trade market for is Klay Thompson, ESPN’s Anthony Slater and Tim MacMahon report.

The bigger question: How much market is there for Thompson right now? What return could Dallas get?

Announcement

Thompson, 35, averages 10.8 points per game, mostly coming off the bench in Dallas. He can still hit big shots, but he’s shooting 35.7 percent from 3-point range this season — though that percentage has jumped to over 40 percent in his last 10 games — and he’s no where near the defender he once was. He makes $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 like Detroit, Memphis and perhaps San Antonio (where he would be an upgrade in place of Harrison Barnes), the Utah Jazz are signaling to teams so far that they intend to keep Lauri Markkanen and Walker Kessler, reports Hoopshype’s Michael Scotto.

At this point, however, Utah has signaled a desire to build with Markkanen despite continued trade interest in his services, HoopsHype has learned.

Announcement

Utah owes its first-round pick to the Thunder, but is protected in the top eight. Utah currently has the eighth-worst record in the league, meaning if the NBA Draft Lottery were held today, the Jazz would have a 60.7% chance of keeping their picks. Are these 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, many other front offices are watching, waiting and checking to see if LA becomes a seller at the trade deadline. Even if they’re open, don’t expect deals for high-priced veterans with baggage — like James Harden or Kawhi Leonard — to arrive in February.

Ivica Zubac is another story. Teams are interested in the underrated big man, but the Clippers aren’t interested. Ringer’s Zach Lowe said on Bill Simmons’ podcast.

Announcement

“The Clippers have been turning away people who were calling, because vultures are circling with Zubac. And the Clippers are turning people away.”
While the Clippers have prepared for a pivot with the books liquidated in 2027, there is only one rotation player with a contract that extends beyond that: Zubac. The Clippers see this as part of what happens next at the Intuit Dome. It would take a lot to pry him away from Los Angeles.

The Clippers’ struggles on the perimeter cause defenses to collapse on him and focus more on Zubac, but he’s still averaging 16.2 points, 11.5 rebounds (third in the league) and shooting 61.3% this season.

Nick Richards

If Zubac is unavailable, one of the big men in many teams’ sights is Phoenix big man Nick Richards, but the Suns are patient, reports peer John Gambadoro of Arizona Sports 98.7 in Phoenix.

The Suns and Raptors have reportedly discussed a trade that would send Richards to Toronto in exchange for Ochai Agbaji and a second-round pick, but those talks are on hold.

Announcement

• One team looking to trade for a big man is Indiana, which lacks what Myles Turner brought to the table. They called Utah for Walker Kessler and he was cut, and they got Dallas into talks for Daniel Gafford, who is available but the price will be high.

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 attracting the most discussion in league circles, it’s Keon Ellis and Keegan Murray – and the Kings won’t talk about the Murray trade. Here’s how Marc Stein put it on The Stein Line.

Announcement

The Kings have been largely open to fielding trade inquiries about virtually anyone on the roster outside of Keegan Murray and rookie Nique Clifford, but they’ve also told potential trade partners that they don’t intend to attach draft capital to veterans’ contracts to try to move them… or use Keon Ellis’ contract to try to sweeten deals. Ellis has been attracting commercial sentiment for some time given the league-wide shortage of currently available 3-eD players.

Expect the Sabonis trade talk to pick up, but if a team wants Ellis it will cost them dearly.