What happened: The Golden State Warriors were able to officially announce Kristaps Porzingis' new contract because the NBA's annual moratorium on completing official roster business does not begin until after midnight, even though free agency opened at 6 PM ET. The moratorium runs July 1 through July 6. That window allowed the team to formalize the two-year, $40 million agreement to keep Porzingis in the Bay before the freeze took hold.

Why it matters: Most agreements struck at the start of free agency cannot be signed until the moratorium lifts, so the ability to make this one official immediately is notable. Locking in Porzingis removes any uncertainty around the big man's status and secures a key piece of the Warriors' frontcourt for the 2026-27 season.

What to watch: Watch for the Warriors' remaining offseason moves once the moratorium lifts on July 6, when the bulk of the league's signings can become official.