NBA trades explode on deadline day: live updates, confirmed deals, and the last-minute moves still in play

Deadline day has turned into a full-on sprint, with contenders trying to patch playoff weaknesses and lottery teams converting veterans into picks and flexibility before the 3 p.m. ET cutoff on Thursday, Feb. 5, 2026. The biggest action is happening in two lanes at once: deals that are already official, and a wave of agreements-in-principle that can break late and still count if they were reached before the buzzer.

Confirmed deals that are already official

As of 2:10 p.m. ET, the league’s official transaction log shows several notable swaps that are fully approved and announced.

The common thread: contenders are buying certainty. A reliable center, a veteran organizer, or a star-level initiator can reshape a series even if the move looks subtle on paper.

The late-day wave: agreements still being finalized

The loudest pre-buzzer chatter is centered on guard depth and frontcourt insurance, with several teams negotiating in ways that could require extra picks, cash, or a third-team facilitator to make the salary math work.

Among the agreements being discussed publicly Thursday afternoon:

• New York adding a defense-first guard to bolster minutes behind its lead creator, with the return centered on a young wing and second-round capital.

• Milwaukee and Phoenix exploring a guard-and-center swap that would change each team’s rotation balance: one side gets additional ballhandling, the other aims for a sturdier interior option.

These can flip from “near done” to “not happening” quickly in the last hour, especially if a team needs to clear a roster spot or avoid crossing a spending line.

Last-minute moves still in play for contenders

With many headline names already moved, the final stretch usually turns into a hunt for specialists—players who do one or two things that matter in May.

What contenders are trying to buy in the last hour:

• Playoff-usable size: backup centers who can defend without fouling and survive in space

• Two-way wings: bodies that can guard up a position while hitting open threes

• Second-unit creation: a steady guard who can run offense when the starter sits

• Point-of-attack defense: someone who can fight over screens and keep stars out of the paint

Expect more multi-team constructions: the cleanest basketball fit often isn’t the cleanest salary fit, so teams rope in partners who can absorb money or reroute a contract.

Why deadline-day “live updates” can be misleading

Trades often hit the public after 3 p.m. ET, but still count if teams reached agreement before the buzzer. The paperwork, league review, and final roster mechanics can take longer than the handshake.

That’s why you’ll see a burst of “just before the deadline” moves that get confirmed later. It also means some deals that sound real in the moment won’t become official if the final pieces weren’t agreed to in time.

What to watch once the buzzer hits

Even after the deadline, roster building doesn’t stop—it just changes shape.

• Buyout market: veterans on non-contenders can become available, and contenders compete for ring-ready depth.

• Rotation clarity: new additions need to learn terminology fast; the best deadline fits tend to have a simple, obvious job.

• Standings pressure: the East and West races can swing on one extra playable defender or one more steady ballhandler.

The final hour isn’t always about the biggest name. It’s about who finds the one piece that actually stays on the floor when the games tighten.

Sources consulted: NBA; Reuters; ESPN; CBS Sports