New Blockbuster Three-Team Trade Proposal Sends LeBron James To Dallas, Klay Thompson and Others To The Lakers

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We are a couple of days into free agency and the landscape for the NBA is starting to take shape for next season.
One week after trading for Kristaps Porzingis and drafting Asa Newell, Atlanta reached a pair of huge free agent signings tonight. The Hawks signed Wolves guard Nickeil Alexander-Walker to a four-year, $62 million deal in a sign and trade that sent a 2027 2nd-round pick (via CLE) to the Wolves. Then, the Hawks signed free agent guard Luke Kennard to a one-year, $11 million deal. Not only that, but they got an unprotected first-round pick from the New Orleans Pelicans in a draft-night trade. Given the massive injuries in the Eastern Conference next season, it seems that the Atlanta Hawks are going for it and making moves to put themselves in position to contend. One area they could still use some depth is at small forward. After Zaccharie Risacher, they don't have a true small forward on the roster for the bench and you can never have enough players at that position.
There was a bit of interesting news this week regarding LeBron James and the Lakers. James opted into his $52.6 million player option for the upcoming season, according to ESPN's Shams Charania, but some of the quotes that came from Charania's story left the impression that a trade could be possible for James and the Lakers.
“He is uncertain about the Lakers roster moving forward,”
— NBACentral (@TheDunkCentral) June 29, 2025
- @ShamsCharania on LeBron James
pic.twitter.com/XyoqSKykg0
Reporting on @SportsCenter -- LeBron James opts in on $52.6 million for the 2025-26 season but is evaluating his Lakers future: pic.twitter.com/ZQWEJLUNqo
— Shams Charania (@ShamsCharania) June 29, 2025
It seems far-fetched, and let me be clear, I don't think the Lakers move James, but this at least opens the door to the possibility. It is not the worst idea either. James would have suitors, even with his enormous salary, and the Lakers can continue to build around Luka Doncic and Austin Reaves. This would also give the Lakers more room to sign Reaves to an extension.
If James is traded, the list of teams that are ready to compete for a title now is small, but there are options out there. One team would be the Dallas Mavericks.
The Lakers and Mavericks have already made one insane trade this year when Dallas moved Luka Doncic to the Lakers for Anthony Davis and a first-round pick. It is worth remembering that James has a no-trade clause in his contract, and he can have a big say in his next destination. What if James wants to reunite with Davis for the final season or two seasons of his career? Now that they have Cooper Flagg, it is not crazy to think James could lift them to title contention in the Western Conference.
So how about a trade where each of these teams tries to fill a need?
It should be noted that this is just a speculative and fun exercise to see what kind of moves can be made, not what I think the Hawks or any other teams should do or will do. That is all.
Hawks Receive: Caleb Martin, a 2030 2nd round pick (via PHI), and a 2032 2nd round pick (via DAL)
Lakers Receive: Klay Thompson, Daniel Gafford, and P.J. Washington
Mavericks Receive: LeBron James, Dalton Knecht, and Bronny James

Why the Hawks do this trade: They get a solid player on both ends of the floor and Martin has been a solid playoff performer in the past. He would not need to be a major contributor, but give the Hawks reliable minutes at the forward position. He shot 35.9% from three last season and would get plenty of open shots playing with Trae Young.
Why the Hawks don't do this trade: Martin is not a game changer on the bench and has been a streaky shooter before. The Hawks could find a more reliable option on offense in the trade market or even in free agency.
Why the Lakers do this trade: They add useful pieces around Doncic and Reaves. Los Angeles is almost recreating the same team Doncic took to the Finals in 2024, and none of them are negative value contracts. This team gets deeper with this move and gets them closer to competing with teams like the Thunder, Rockets, and Nuggets
Why the Lakers don't do this trade: The Lakers could get a better package from another team, and James may not want to go to Dallas with Irving injured for the season and Davis injury-prone.
Why the Mavericks do this trade: Dallas lucked out with the Cooper Flagg situation, but their roster is still made to win now. Getting James would accelerate that process and if he stays for two seasons, he could try and help them win one when Irving returns. They still have enough pieces and flexibility to add to the roster. Knecht gives them another young prospect and much-needed shooting.
Why the Mavericks don't do this trade: They would narrow their window to win a title to just one or two years while trading away assets in the process.
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Jackson Caudell has been covering Georgia Tech Athletics For On SI since March 2022 and the Atlanta Hawks for On SI since October 2023. Jackson is also the co-host of the Bleav in Georgia Tech podcast and he loves to bring thoughtful analysis and comprehensive coverage to everything that he does. Find him on X @jacksoncaudell
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Rohan Raman has been covering the Atlanta Hawks for On SI since June 2024. He has been a contributor to Georgia Tech Athletics for On SI since May 2022 and enjoys providing thoughtful analysis of football, basketball and baseball at the collegiate and professional level.