Porzingis' three-team trade evaluation: Celtics and Hawks each get what they need, rated B; Nets rated A as the big winners.

On June 25, Beijing time, renowned journalist Shams reported that the Celtics, Hawks, and Nets are set to finalize a three-team trade. Porzingis and a second-round pick are being sent to the Hawks; Mann and the Hawks' 22nd pick are going to the Nets; Niang and a second-round pick are headed to the Celtics. Subsequently, ESPN rated the trade, noting that both the Celtics and Hawks got what they needed, each receiving a B rating, while the Nets were awarded an A for their substantial return. The specifics are as follows—

Celtics rating: B

The Celtics have entered the second phase of their salary structure reset. Similar to the previous trade that sent Jrue Holiday to the Trail Blazers, this deal involves parting ways with one of the last pieces of the championship roster from 2024—Porzingis.

Porzingis brought unique value to the Celtics in the 2023-24 season: rim protection, outside shooting, and the ability to post up smaller defenders. Despite being hindered by injuries during the playoffs, he made key contributions in the Finals against the Mavericks. However, over the past season, aside from the recovery period from leg surgery during the playoffs, a mysterious illness limited him to just 42 regular-season games. When the ailment recurred, he averaged only 4.2 points in the Celtics' series loss to the Knicks.

Historically, Porzingis has seemed more like a "luxury" for the Celtics, who have sufficient roster depth (he played only 57 games in the 2023-24 season). With the luxury tax repeater penalties kicking in and the second apron restrictions, he became a tradeable asset in pursuit of a more balanced salary structure. Swapping his final contract year of $30.7 million for Massachusetts native Georges Niang's $8.2 million was enough to temporarily bring the Celtics below the second apron. Salary expert Marks noted that this trade alone saves the Celtics about $150 million in luxury tax, and combined with the Holiday-for-Simmons deal, the total savings reach $180 million.

Currently, the Celtics have only two centers, Keta and Tillman, signed to the roster, while long-time starter Horford and breakout player Kornet are both free agents. Horford's re-signing may not solely depend on salary, but offering any player a contract exceeding the veteran minimum could push the Celtics back over the second apron. The silver lining is that the most severe luxury tax penalties are based on end-of-season salaries. The Celtics can slightly exceed the line initially and then make moves, such as trading Niang, to return below it before the deadline.

As Tatum recovers from his Achilles tear, the Celtics have already undergone significant changes with the loss of Holiday and Porzingis, but the core framework of Tatum, Jaylen Brown, and guard Derrick White remains intact. The team not only cleared salary space but also netted a second-round pick (acquiring two second-round picks from the Trail Blazers in the Holiday trade), retaining almost all future first-round picks to rebuild a championship-caliber supporting cast around their three core players.

Hawks rating: B

This trade holds dual value for the Hawks:

Short-term competitiveness: Porzingis fits well with the Hawks' young frontcourt—this team, known for its athleticism, lacks shooting. In the 2023-24 season, Jalen Johnson posted career-best numbers in 36 games (18.9 points, 10 rebounds, 5 assists), but as a power forward, his three-point shooting percentage was only 31%; Okongwu, stepping in for Capela at center, showed long-range shooting ability, doubling his three-pointers from the previous season, but totaled only 48 makes. Coach Snyder can pair Porzingis with any starting big man, and 2023 second-round pick Muhammad Gay, who successfully filled in for Johnson as a starter in the last two months of the season, provides depth to avoid overworking Porzingis.

Future flexibility: Due to the failed trade involving Murray, the Hawks do not control their first-round picks for the next two years (one is swapped with the Spurs, and the other is directly given away), thus they have ample motivation to contend now. If Porzingis does not fit well, once he becomes a free agent next summer and Trae Young exercises his $49 million player option, the Hawks can opt for a rebuild. Previously, acquiring Terance Mann's three-year, $46.5 million contract from the Clippers at the trade deadline has already compressed salary space, and this trade only cost them the 22nd pick to shed that contract.

Essentially, the Hawks have freed up to five roster spots through the three-team trade by executing a "three-for-one" swap. The team's salary is currently $28.5 million below the luxury tax line (including Gay and Vitte Krejci's non-guaranteed contracts), and in addition to utilizing some full mid-level exceptions, they may also re-sign free agent guard LeVert.

Nets rating: A

As the only team in the league with ample salary cap space, the Nets have reaped significant rewards by taking on Mann's contract. They now hold five first-round picks in this year's draft, along with the 36th pick in the second round, setting an NBA record—previously, only the Kings in 1990, the Trail Blazers in 2006, and the Rockets in 2021 had four first-round picks in a single draft. This means the Nets are highly likely to trade up on draft night and can also exchange at least one 2025 first-round pick for future assets.

Mann's value still has room for recovery: at the beginning of the 2023-24 season, he was a key trade asset when the Clippers pursued Harden; although he lost his starting position last season, he rebounded after being traded to the Hawks. Assuming the Nets retain restricted free agents Day'Ron Sharpe and Thomas' salary cap holds, they can still create $30-35 million in salary space after completing this trade, which can be used to pursue young free agents or to take on more contracts via trade for assets.