What happened: The Atlanta Hawks acquired defensive wing Luguentz Dort and Ryan Nembhard in a three-team trade. The Oklahoma City Thunder dealt Dort to drop below the second tax apron, receiving three future second-round picks, while Zaccharie Risacher moved to Dallas.

Why it matters: The transaction creates financial flexibility for Oklahoma City before max extensions for Chet Holmgren and Jalen Williams take effect. Atlanta builds a formidable defensive perimeter by pairing Dort with Dyson Daniels and Nickeil Alexander-Walker, though it required parting with Risacher.

What to watch: Atlanta holds the cap space to negotiate a long-term deal with Dort, while Cason Wallace slides into a larger role for the Thunder.