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The 10 biggest NBA free agency moves in the first week

The Bulls, Heat and Knicks set themselves up well to content in the Eastern Conference while the Lakers built an all-new team in the West.

NEW YORK โ€” We have now crossed the 12 p.m. ET Friday moratorium, which means all the NBA free agency deals reported throughout the week can now become official. 

The NBA opened free agency up on Monday and the deals have been flying all week from new signings, re-signings and major contract extensions.

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Here are 10 of the biggest moves reportedly made this week in NBA free agency:

Lonzo Ball sign and trade to the Chicago Bulls

Credit: AP
FILE - In this Feb. 12, 2021, file photo, New Orleans Pelicans' Lonzo Ball brings the ball up during the team's NBA basketball game against the Dallas Mavericks in Dallas. A person familar with the situation says Ball is heading to Chicago in a sign-and-trade agreement that will also send Bulls guards Tomas Satoransky and Garrett Temple III to the Pelicans. The person spoke to The Associated Press on condition of anonymity Monday, Aug. 2, because trades cannot becoming official until Friday under NBA rules. (AP Photo/Tony Gutierrez, File)

The Chicago Bulls reportedly came to an agreement Monday with Lonzo Ball on a 4-year, $85 million deal in a sign-and-trade involving the Pelicans. 

Ball, 23, was drafted second overall by the Lakers in 2017. He averaged a career high 14.6 points per game last season and his field goal percentage has improved each year. 

Ball joins a Bulls backcourt that includes guards Zach Lavine and Coby White as well as some other new Bulls additions including Alex Caruso and DeMar DeRozan.

DeMar DeRozan to Chicago Bulls in sign and trade

Credit: AP
San Antonio Spurs forward DeMar DeRozan (10) during the second half of an NBA basketball game against the Phoenix Suns in San Antonio, Sunday, May 16, 2021. (AP Photo/Eric Gay)

DeMar DeRozan was one of the most high-profile players on the market in free agency. The 31-year-old guard/forward reportedly had some interest in joining the Lakers after they traded for Russell Westbrook, but would have had to take a very substantial pay cut. In the end, the Bulls reportedly got him in a sign-and-trade with the Spurs.

The Bulls sent a lot back to San Antonio including Thad Young, Al-Farouq Aminu and a future first-round pick. The Bulls and DeRozan reportedly agreed to a 3-year, $85 million deal. 

Chicago's lineup all of a sudden looks like a threat in the Eastern Conference with Ball and DeRozan joining Lavine, Nikola Vucevic, Patrick Williams and Coby White.

Chris Paul re-signs with the Suns

Credit: AP
Phoenix Suns head coach Monty Williams, second from left, hugs Chris Paul, left, and Jae Crowder, second from right, as Devin Booker stands by as time runs out in Game 6 of the NBA basketball Western Conference Finals against the Los Angeles Clippers Wednesday, June 30, 2021, in Los Angeles. The Suns won the game 130-103 to take the series 4-2. (AP Photo/Mark J. Terrill)

Chris Paul made the NBA Finals for the first time in his career with the Phoenix Suns in a magical season that saw Phoenix with the NBA's second-best record. They defeated the Lakers, Nuggets and Clippers on their way to the Finals before losing to the Bucks.

Paul turned down his $44 million player option with the Suns for next season, but is reportedly re-signing on a four-year deal worth up to $120 million. However, the third year is reportedly only partially guaranteed and the final year is a team option.

Now, the Suns should continue to be a threat in the Western Conference. 

Trae Young signs rookie max extension with Atlanta Hawks

Credit: AP
Atlanta Hawks' Trae Young reacts to a call during the first half of Game 2 of the NBA Eastern Conference basketball finals game against the Milwaukee Bucks Friday, June 25, 2021, in Milwaukee. (AP Photo/Morry Gash)

The Atlanta Hawks locked up their guy for the foreseeable future after they reportedly agreed to a 5-year rookie max extension worth up to $207 million.

Young was selected fifth overall in 2018 and has been a rising star in the league. He led the Hawks to the Eastern Conference Finals this past season while averaging over 25 points and nine assists per game. He averaged 29.3 points per game in the 2019-20 season.

New York Knicks extend Julius Randle

Credit: AP
New York Knicks forward Julius Randle (30) controls the ball during an NBA basketball game against the Los Angeles Lakers Tuesday, May 11, 2021, in Los Angeles. (AP Photo/Ashley Landis)

The New York Knicks reportedly agreed to an extension with 26-year-old Julius Randle this week worth $117 million over four years. 

Randle was an All-Star for the first time this past season, averaging 24 points and 10 rebounds per game, helping lead the Knicks to the playoffs.

Golden State Warriors agree to extension with Stephen Curry

Credit: AP
Golden State Warriors' Stephen Curry, center, yells after making a three-point basket with teammates Draymond Green, left, and Jordan Poole, right, during the first half of an NBA basketball Western Conference play-in game against the Memphis Grizzlies in San Francisco, Friday, May 21, 2021. (AP Photo/Jed Jacobsohn)

The Golden State Warriors reportedly invested in 2-time MVP and 7-time All-Star point guard Steph Curry with a four-year extension worth $215 million. 

The Warriors have now missed the playoffs for two-straight years but all indications are that they are ready to get back into the mix in the Western Conference with Klay Thompson returning and Steph Curry's elite play last season.

Miami Heat get Kyle Lowry

Credit: AP
Toronto Raptors guard Kyle Lowry (7) brings the ball up court against the Charlotte Hornets during the second half of an NBA basketball game in Charlotte, N.C., Saturday, March 13, 2021. (AP Photo/Jacob Kupferman)

Kyle Lowry was pursued by multiple teams heading into free agency and the Miami Heat won out on the sweepstakes, reportedly agreeing to a 3-year $90 million deal with the Heat after a sign-and-trade. The Heat are sending Precious Achiuwa and Goran Dragic to Toronto.

The Heat were busy this week, grabbing the 35-year-old point guard, re-signing Duncan Robinson and bringing in P.J. Tucker. Miami is looking to get back to the NBA Finals after their run in 2020. 

Lakers sign Carmelo Anthony, Malik Monk, Dwight Howard, Trevor Ariza, Kent Bazemore, Kendrick Nunn, Wayne Ellington, re-sign Talen Horton-Tucker

Credit: AP
Los Angeles Lakers' LeBron James and Portland Trail Blazers' Carmelo Anthony look on during the first quarter in Game 2 of an NBA basketball first-round playoff series, Thursday, Aug. 20, 2020, in Lake Buena Vista, Fla. (Kevin C. Cox/Pool Photo via AP)

The Los Angeles Lakers are going to look a lot different next year. The Lakers made a blockbuster move on NBA Draft day, trading Kyle Kuzma, Montrezl Harrell and Kentavious Caldwell-Pope to the Wizards in exchange for former NBA MVP Russell Westbrook.

With the salaries of LeBron James, Anthony Davis and Westbrook on the books, the Lakers didn't have many options to make a move with big names in free agency but they certainly worked with what they had. They brought in five guys 32 years or older including Carmelo Anthony, but also signed young wings in Malik Monk and Kendrick Nunn, while re-signing Talen Horton-Tucker. 

Kemba Walker to sign with New York Knicks

Credit: AP
Boston Celtics guard Kemba Walker (8) looks to pass during the first quarter of Game 2 of an NBA basketball first-round playoff series against the Brooklyn Nets, Tuesday, May 25, 2021, in New York. (AP Photo/Kathy Willens)

Kemba Walker is reportedly parting ways with the Thunder after never playing a game for them following a trade from the Boston Celtics last season. Walker, 31, is a 4-time All-Star and brings a big backcourt boost to a New York Knicks team that made the playoffs this year.

With the addition of Evan Fournier, the extension of Julius Randle and the re-signings of Nerlens Noel and Alec Burks, the Knicks are expected to put themselves into contention again.

Jimmy Butler to sign max extension with Miami Heat

Credit: AP
Miami Heat forward Jimmy Butler (22) and Duncan Robinson (55) reacts at the end of an NBA basketball game against the Sacramento Kings, Saturday, Jan. 30, 2021, in Miami. The Heat defeated the Kings 105-104. (AP Photo/Marta Lavandier)

Jimmy Butler is expected to agree to a maximum contract extension with the Miami Heat, one of many moves for the Heat this week. 

Butler was already under contract for $36 million in 2021-22 and has a $37.7 million player option for 2022-23, but now a 4-year max extension is expected to be worth $184 million.

Butler has been a star for Miami since coming over from Philadelphia in a sign and trade before the 2019-20 season. Butler led the Heat on an incredible run in the bubble to the NBA Finals before they fell to the Lakers.