August 14, 2025 — Several restricted free agents are still on the market as NBA training camps approach, including four first-round selections from the 2021 draft and a group of players coming off two-way contracts. League rules give each player until October 1 to accept or decline the qualifying offer (QO) extended by his current club, unless the team formally agrees to move that deadline.
Qualifying offers still on the table
- Josh Giddey, Bulls: $11,142,058
- Quentin Grimes, Sixers: $8,741,210
- Jonathan Kuminga, Warriors: $7,976,830
- Cam Thomas, Nets: $5,993,172
- Dru Smith, Heat: $2,378,870 *
- Taran Armstrong, Warriors: Two-way ^
- NFaly Dante, Rockets: Two-way ^
- Kevin McCullar Jr., Knicks: Two-way ^
- Oscar Tshiebwe, Jazz: Two-way ^
* Partially guaranteed for $102,300 | ^ Partially guaranteed for $85,300
For former first-rounders, qualifying offer values are tied to draft position and can rise or fall based on the NBA’s “starter criteria.” That formula explains why Grimes (25th overall in 2021) carries a larger QO than Kuminga (7th overall). If any of these four first-round picks accepts his QO, he would play the 2025-26 season on that one-year contract and become an unrestricted free agent in 2026.
Smith’s situation differs from the other two-way free agents. After spending parts of three seasons on two-way deals with Miami, he is no longer eligible for another two-way slot; accordingly, his QO reflects the standard one-year minimum salary with only a small partial guarantee.
Rare path for former first-rounders
Accepting a qualifying offer is common among players promoted from two-way contracts, but it remains unusual for former first-round picks. According to ESPN’s Bobby Marks, only five first-rounders have taken that route since 2017:
- Alex Len — accepted $4.19 million QO in 2017; signed a two-year, $8.51 million deal in 2018.
- Nerlens Noel — accepted $4.19 million QO in 2017; signed a two-year, minimum-salary contract in 2018.
- Rodney Hood — accepted $3.47 million QO in 2018; signed a two-year, $11.72 million deal in 2019.
- Denzel Valentine — accepted $4.64 million QO in 2020; signed a two-year, minimum-salary contract in 2021.
- Miles Bridges — accepted $7.92 million QO in 2023; reached a three-year, $75 million agreement in 2024.
With the October 1 deadline six weeks away, the Bulls, Sixers, Warriors and Nets have time to negotiate long-term agreements with Giddey, Grimes, Kuminga and Thomas, while the remaining two-way free agents weigh the security of their qualifying offers against other roster opportunities.
Source: Hoops Rumors
