5 Teams That Completely Blew Free Agency

New York Knicks Press Conference
New York Knicks Press Conference / Maddie Meyer/Getty Images

The first day of NBA free agency has come and gone, and it's already been a wild ride. Approximately 40% of NBA players became free agents on June 30, and many of them have already signed with new teams. It's still early, so many teams still have a chance to bounce back in free agency. For now, however, let's take a look at the biggest losers of free agency so far.

5. Houston Rockets

Toronto Raptors v Philadelphia 76ers - Game Six
Toronto Raptors v Philadelphia 76ers - Game Six / Mitchell Leff/Getty Images

Rockets general manager Daryl Morey had high hopes for a sign-and-trade for former Philadelphia 76ers forward Jimmy Butler. Unfortunately, Butler had other plans, as he was set on playing for the Miami Heat. The Heat and 76ers have completed their trade, which means that Houston will have to look elsewhere for another key role player to pair alongside Chris Paul and James Harden, and there's not very many viable options available.

4. Golden State Warriors

2019 NBA Finals - Game Five
2019 NBA Finals - Game Five / Vaughn Ridley/Getty Images

The Warriors losing Kevin Durant absolutely hurts. While they recovered nicely with the sign-and-trade for D'Angelo Russell, Golden State is not expected to keep him, as Marc Stein reports the team will look to trade him. Before Russell became a Warrior, he received interest from the Minnesota Timberwolves and the Los Angeles Lakers. Whatever Golden State recuperates from the Russell trade will likely not be enough to fill the incredible void that Durant left the Warriors with, but at least they get something.

3. Los Angeles Lakers

Los Angeles Lakers v Los Angeles Clippers
Los Angeles Lakers v Los Angeles Clippers / Yong Teck Lim/Getty Images

The Lakers watched just about every big free agent come and go on Monday, as the last big name remaining on the open market is Kawhi Leonard. As of right now, the Lakers and the Los Angeles Clippers are considered the frontrunners for the forward, so there's still a shot that Kawhi will sign with the Lakers. However, if he decides to go to the other Staples Center-based team, then this has the potential to be a huge swing and miss from Rob Pelinka and Co.

2. Charlotte Hornets

Charlotte Hornets v Washington Wizards
Charlotte Hornets v Washington Wizards / Patrick Smith/Getty Images

The Hornets decided to keep Kemba Walker until he hit free agency, and then offered him far less than they could have due to luxury tax issues. Walker decided it would be in his best interest to sign elsewhere, and he did. They effectively replaced Walker with Terry Rozier, paying him $58 million over three years. They lost Walker for pretty much nothing, and then overpaid Rozier, which makes them huge losers in free agency so far.

1. New York Knicks

Madison Square Garden Company Special Announcement
Madison Square Garden Company Special Announcement / Rob Kim/Getty Images

Team president Steve Mills issued a statement on the Knicks just several hours into free agency, saying that he knew that fans would be disappointed with the news, but the team remains confident in their rebuilding plan. Anytime that the team president issues a statement like this, it's a bad sign. The Knicks lost out on absolutely everyone in free agency, and wound up signing a consolation prize in Julius Randle, as well as Taj Gibson, Bobby Portis, Wayne Ellington and Reggie Bullock. The newly signed power forwards combine for a value of $114 million over the next three years. Knicks fans, buckle up. It's going to be a long and bumpy ride before you're anywhere near contention again.