The 2025 NBA offseason has marked a turning point in the league’s history, revealing how the new collective bargaining agreement (CBA) is reshaping not only team-building strategies but also the ownership landscape. What was once one of the most thrilling periods on the sports calendar — NBA free agency — now feels constrained and subdued under stricter financial rules designed to promote parity.
When the NBA introduced its new CBA in 2023, it was seen by many as an effort to create a level playing field by limiting how much teams could spend on building powerhouse rosters. However, ESPN analyst Richard Jefferson believes the unintended effects have been far more damaging. Speaking on his Road Trippin’ podcast, Jefferson said the CBA has effectively reduced the value of great ownership by penalizing teams that invest in winning.
“With this CBA, (teams) are screwed. That’s why all the owners are getting out,” Jefferson said. “It’s not just owners that want to stack the deck. Charlotte sold, Portland sold. They’re looking at it like, even if I do a good job and I field a good team, it’s going to cost me so much money to even keep a good team.”
This shift in sentiment has been reflected in a wave of ownership changes across the league. Since the CBA was adopted, major franchises such as the Dallas Mavericks, Boston Celtics, Phoenix Suns, and Los Angeles Lakers have been sold. Even smaller-market teams like the Milwaukee Bucks, Charlotte Hornets, and Portland Trail Blazers have seen ownership turnover. The common thread: frustration with a system that makes sustaining success financially burdensome.
The impact of these changes hasn’t gone unnoticed by fans and commentators. The opening week of 2025 NBA free agency has been met with widespread criticism. Many argue that the league’s new rules are draining the fun and spectacle from free agency — an event that once kept fans glued to their screens. NBA TV insider Chris Haynes shared a message from a high-ranking source warning that the league must not forget that free agency “is entertainment.” Similarly, Bill Simmons didn’t mince words on his podcast, calling the new CBA “one of the worst things to ever happen to any sport.”
As the dust settles on this offseason, it’s clear that the NBA faces a critical challenge: balancing financial fairness with the excitement and ambition that made the league’s transaction season a global phenomenon. Whether adjustments to the CBA will come in future negotiations remains to be seen, but for now, both owners and fans are feeling the strain of the league’s new era.
