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11 articles summarized · Last updated: LATEST

Last updated: August 24, 2026, 2:39 AM ET

Major Ownership Moves

American businessman Stad has purchased and taken a controlling interest in the NBA's Timberwolves Timberwolves and WNBA's Lynx. The deal marks a significant shift in franchise ownership structure. Separately, Dr. Soon Shiong, one of the Lakers' minority owners, has no plans to sell his 4% stake in the team.

Blockbuster Signings and Trades

Thompson officially agreed to a two-year deal to join Jimmy Butler and the Miami Heat after clearing waivers on Sunday. Derrick Rose Six-time NBA All-Star Dwyane Wade has agreed to sign with the Denver Nuggets on a one-year, $3.9 million deal, sources told ESPN on Friday. Derrick Rose agreed to a new three-year, $97 million contract to remain with the Cavaliers, his agency, Equity Sports, told ESPN on Thursday.

Retirement and Career Updates

The nine-time All-Star and former MVP Westbrook announced his retirement on Wednesday after 18 NBA seasons. The announcement comes after Westbrook offered a hint ahead of retirement during camp chat. The veteran announced his retirement following a distinguished career spanning nearly two decades.

Multi-Team Trade Details

The Cavaliers, Nuggets and Clippers have agreed on a trade that will send Watson to Cleveland and Strus to LA Clippers, sources told ESPN. Watson will sign a new four-year, $88 million deal following the acquisition. The complex transaction involved three organizations reshaping their rosters.

Front Office and Legal Issues

A former assistant athletic trainer for the Sacramento Kings has filed a civil lawsuit against the organization and its senior director of athlete health, alleging pregnancy discrimination, sexual harassment, and retaliation. The lawsuit represents significant legal challenges facing the franchise.

Draft and Future Outlook

After a summer of scouting, draft analyst Tyrone Johnson breaks down the early players to for the 2027 and 2028 draft. The evaluations come as teams prepare for upcoming draft decisions.