The free agency period has begun, the Rockets are going all out, and the Lakers are fiercely competing for Ayton.

On the opening day of free agency, several big-name player transfers and contract extensions were announced. Here are some of the more attention-grabbing updates.

The first player to change teams this year was Fini Smith, who joined the Rockets on a 4-year, $53 million contract. He had previously declined his $15.38 million player option in pursuit of a longer-term deal. While the annual salary is a bit lower than anticipated, the contract’s duration is advantageous.

Smith is 32 years old, so this contract is likely the last major deal of his career, making the length more important than the yearly pay. By the time this contract ends, Smith will be 36 and may still have some playing ability left, so the Rockets’ offer isn’t overly risky.

Midway through last season, Smith was traded from the Nets to the Lakers. He posted a 41.1% three-point shooting percentage for the season, remaining a very reliable 3-and-D player and a key perimeter defender for the Lakers. Although the Lakers could have afforded to keep him, they clearly prioritized strengthening their center position over the wing, leading them to let Smith go.

Besides signing Smith, the Rockets also retained Tate, Jeff Green, and Aaron Holiday earlier on minimum contracts. They then secured familiar face Capela for 3 years and $21.5 million. Their current roster has become quite formidable.

There were reports that the Clippers, Lakers, and Spurs were expected to pursue Capela, but the Rockets surprised everyone by swooping in and signing him despite already having Shengen and Adams on the roster.

This signing feels partly motivated by preventing Capela from joining a rival team. Of course, Capela is an excellent frontcourt rebounder and can rotate with Adams, so he is likely to see playing time.

The Rockets’ backcourt currently looks a bit thin with Van Jordan, Shepherd, Aaron Holiday, and Whitmore, but Amen is very likely to start at the shooting guard spot next season.

On the wing, Durant, Xiao Jia, Fini Smith (filling in for Dillon), and Eason form an incredibly strong group. Adding Amen makes this lineup even more terrifying — a balanced unit both offensively and defensively, arguably the best wing group Durant has played with in his career.

The frontcourt is also stacked with offensive-minded Shengen, defensive specialist Adams, and Capela. All three are strong rebounders. Barring surprises, the Rockets will remain the best rebounding team in the league next season.

The Rockets have been aggressive in recent days, upgrading their roster significantly and aiming to dominate the Western Conference. Next season, they will definitely challenge the Thunder head-to-head.

Another move that could impact the league’s landscape is the Nuggets finally trading Porter Jr., packaging him with an unprotected 2032 first-round pick to acquire Cameron Johnson from the Nets, while also re-signing Bruce Brown on a minimum deal.

By giving up a first-round pick, the Nuggets cleared Porter Jr.’s hefty two-year contract. Although only $12 million is guaranteed in the final year, the salary for next season still reaches $38 million. In return, they gained a solid contributor in Cameron Johnson — a win-win situation.

The Nets had been asking for two first-round picks for Cameron Johnson but never succeeded, so this can be seen as a price drop. Johnson is an excellent three-point shooter and a better defender than Porter Jr., making him a great addition for the Nuggets. After signing Johnson, Denver saved $17 million, gained a full mid-level exception, and still have room to strengthen their roster.

Two of the biggest market teams, the Warriors and Lakers, have been quiet today. The Warriors let go of ten-year veteran Looney to the Pelicans on a 2-year, $16 million contract. It’s unclear what exactly the Pelicans saw in Looney. The Warriors are pursuing Horford but haven’t finalized anything yet.

So far, the Lakers have only made one signing: a 2-year, $12 million deal with LaRavia, who played last season for the Grizzlies and Kings. LaRavia is a well-built white wing player with a style similar to a bigger Knect, and he has been hanging out with Reeves all summer, maintaining a good relationship.

LaRavia is an above-average three-point shooter in the league, hitting 42.3% from beyond the arc last season. His defense is decent and versatile enough to guard multiple positions. This price tag likely means he’s not a direct replacement for DFS, but LaRavia has growth potential and is still young.

With Cornett signing a 4-year, $41 million deal with the Spurs, Lo signing a 2-year, $18 million deal with the Clippers, and even Plumlee finding a spot with the Hornets, the Lakers’ options for centers are becoming increasingly scarce. The Lakers have yet to make a move, which can only mean they are still fiercely pursuing Ayton.

The Lakers’ biggest competitor for Ayton might be the Bucks, who can also offer him a starting role. If the Lakers fail to sign Ayton, this summer could end up being a total loss for them.

On the other hand, even if Ayton does join the Lakers, it’s still uncertain how much of an improvement he would bring to their overall strength. This offseason is likely to be a tough one for the Lakers.