DraftKings has San Antonio and Oklahoma City listed as the +270 co-favorites to win the 2027 NBA Finals.

The next-shortest odds belong to the Knicks (+850), Celtics (+1300 or 13/1), 76ers (20/1), Cavaliers (25/1), Raptors (25/1), Timberwolves (25/1), Pistons (25/1), Heat (25/1) and Nuggets (25/1). The remaining clubs with odds inside of 100/1 include the Warriors (30/1), Lakers (35/1), Pacers (40/1), Rockets (50/1), Hawks (70/1), Trail Blazers (80/1) and Magic (80/1).

Since losing to the Spurs in the Western Conference finals, OKC has made some cost-cutting moves to avoid luxury tax penalties. The Thunder shipped Aaron Wiggins to Atlanta for a pair of future second-round picks, and they also traded Isaiah Joe to Detroit for two future second-round selections.

OKC re-signed Isaiah Hartenstein to a new three-year deal worth $75 million, and it also exercised its team option on Lu Dort that retains him for $18.2 million. The Thunder declined the $7.2 million team option on Kenrich Williams.

I’m a huge fan of all three draft picks from GM Sam Presti, who took Michigan’s 7-foot-3 center Aday Mara with the #12 pick, Iowa guard Bennett Stirtz at #16 and Kentucky wing Otega Oweh at #41.

San Antonio retained Julian Champagnie and Harrison Barnes on new deals. The Spurs also inked veteran forward Tobias Harris to a two-year, $31 million contract. They added size in the draft by selecting a pair of big men (oft-injured Jayden Quaintance and UConn center Tarris Reed) late in the first round.

With the exception of Mitchell Robinson, New York is running it back with all of its key pieces in hopes of repeating as NBA champions. Robinson bolted to the Celtics for a three-year contract worth $47.4 million.

The Knicks replaced him by signing veteran center Andre Drummond to a one-year, $3.9 million deal. They brought back reserve guards Landry Shamet and Jose Alvarado on new contracts.

Boston’s decision to move Jaylen Brown to Philadelphia for Paul George and future draft compensation was a head scratcher. Whether Robinson will be worth the money remains to be seen.

The Celtics kept Neemias Quenta by inking him to a four-year contract for $56 million. They signed 38-year-old point guard Mike Conley for one year on a veteran minimum contract. Boston added Chris Cenac Jr. and Dillon Mitchell with the #27 and #40 picks in the draft.

Philadelphia has added Dean Wade and Anfernee Simons through free agency and got a bucket maker in Labaron Philon with the #22 pick in the draft. The 76ers allowed Quentin Grimes and Kelly Oubre to leave in free agency.

They’re hoping to be in mix with LeBron James, who has a close relationship with Tyrese Maxey. Other teams that James plans to consider include Miami, Cleveland, Golden St., Denver, Dallas, Minnesota and San Antonio.

The Cavs are reportedly among the teams interested in unrestricted free agent Jonathan Kuminga. They’ve had a quiet offseason to date, exercising their team option on Craig Porter Jr. and signing center Thomas Bryant.

Miami made a shrewd move by signing Tim Hardaway Jr. to a one-year contract worth $6.5 million. He gives Giannis Antetokounmpo a reliable 3-point shooter to lean on. Hardaway’s addition was vital, especially since Norman Powell left for Chicago on a two-year, $45 million deal.

The Heat kept Andrew Wiggins on a new three-year, $64 million contract. They also retained Simone Fontecchio on a one-year deal.

Toronto is hoping that Kawhi Leonard can recapture the magic he brought to the city during his one-year stay when he led the franchise to its only NBA title in 2019. The Raptors gave up Brandon Ingram, Gradey Dick, two unprotected first-round picks in 2031 and 2033, a 2027 first-round pick swap and a pair of second-round selections to acquire Leonard. They picked two guards in Allen Graves and Jaden Bradley in the draft.

Minnesota will have a bunch of new parts around its franchise player Anthony Edwards next season. The Timberwolves moved Julius Randle to Brooklyn for a $33 million trade exception and other draft considerations. That move paved the way to acquire LaMelo Ball and Josh Green for Naz Reid and several draft swaps and second-round picks.

Minnesota also re-upped with guard Ayon Dosunmu, giving him a five-year extension worth $112 million.

Denver has had a quiet offseason to date. The Nuggets are hoping to change that with their pursuit of James and their desire to lock up restricted free agent Peyton Watson with a new contract.

As previously noted, Detroit made the trade with OKC for Joe. The Pistons traded away Isaiah Stewart and Marcus Sasser and let Harris walk when he signed with the Spurs. They inked John Collins to a three-year deal worth $51 million in hopes that he’ll be flushing lots of lob passes from Cade Cunningham in the coming years.

Golden St. has re-signed veterans Al Horford, De’Anthony Melton and Kristaps Porzingis. Draymond Green declined his $27.7 million player option, but he’s expected to stay with the Warriors on a new cap-friendly contract. The Warriors are hoping #11 pick Yaxel Lendeborg will have an instant impact as a rookie.

Some view the Warriors as the favorites to land James, but they might need to make other moves to attract him.

The Lakers have made deals galore to revamp their roster following James’ departure. They’ve signed Collin Sexton, Grimes and Sandro Mamukelashvili in free agency and gave Austin Reaves a lucrative extension worth $184.8 million over four years.

GM Rob Pelinka sent 2031 and 2033 unprotected first-round picks and 2028 and 2030 first-round pick swaps to Utah for Walker Kessler, who inked a four-year, $130 million contract with his new squad. The Lakers also shipped DeAndre Ayton to the Wizards for Jaden Hardy and two second-round picks in 2031 and 2032.

Jaxson Hayes, Luke Kennard and Marcus Smart left L.A. for new teams in free agency. Finally, the Lakers picked Cameron Carr with their first-round pick at #24.

Indiana’s 2025-26 campaign was lost before it started due to the season-ending knee injury suffered by its franchise player, Tyrese Haliburton, in Game 7 of the 2025 NBA Finals at OKC. The Pacers made their big move at this past trade deadline when they acquired Ivica Zubac from the Clippers. They’ve added Oubre in free agency.

The longshots to win the 2027 NBA Finals consist of the Hornets (100/1), Suns (120/1), Wizards (150/1), Mavericks (180/1), Jazz (200/1), Pelicans (400/1), Clippers (500/1) Bulls (700/1), Bucks (700/1), Nets (1,000/1), Kings (1,000/1) and Grizzlies (1,000/1).