Once the clock strikes midnight, all the fun starts.
On July 1 at 12:01 a.m. ET, NBA free agency officially begins.
It is at that time that teams and players can agree to terms on new contracts. On July 6—after the moratorium period—these contracts can be signed and become official.
Among the notable free agents this summer are Gordon Hayward (Jazz), Chris Paul (Clippers), Blake Griffin (Clippers), Andre Iguodala (Warriors), Steph Curry (Warriors), Kevin Durant (Warriors), Kyle Lowry (Raptors) and Paul Millsap (Hawks). Not all of those players are expected to hit the open market.
The Miami Heat and Boston Celtics are two teams expected to make a splash in the free agent pool, and both are interested in bringing in Gordon Hayward. The San Antonio Spurs are one of the teams with their eyes on Chris Paul, along with the Houston Rockets, who are also pursuing Millsap, Lowry and Griffin.