Doug McDermott was rumored to be signing with the San Antonio Spurs shortly after free agency opened. This transaction came to fruition, but in a mutually beneficial way for both the Spurs and McDermott's former team, the Indiana Pacers.

Indiana sent San Antonio a future second round pick and the rights to swap second round picks in another draft for the right to make it a sign-and-trade transaction. The Spurs still get their player, while the Pacers create a Traded Player Exception of approximately $7.4 million. And, of course, McDermott gets the full value of the contract he agreed to with San Antonio.

Turning free agent losses into sign-and-trades has become a more-common transaction in recent years. Last offseason, the Boston Celtics were able to send the Charlotte Hornets two future second round picks to turn the Gordon Hayward signing into a sign-and-trade. That transaction allowed Boston to create the largest Traded Played Exception in NBA history at $28.5 million. The Celtics used that TPE to acquire Evan Fournier at last season's trade deadline, and then the remainder to acquire Josh Richardson this offseason.

The Atlanta Hawks, Boston Celtics and Sacramento Kings have completed a long-awaited three-team trade.

Atlanta acquired guard Delon Wright from Sacramento. Wright is expected to help fill the backup point guard role behind Trae Young.

Boston acquired guard Kris Dunn and center Bruno Fernando from Atlanta. It's unknown what the Celtics plans are for either player, given how tight to the luxury tax the Celtics are. Boston also acquired a 2023 second round pick in the deal from Atlanta. This pick will be conveyed by the Portland Trail Blazers via the Hawks.

In addition, the Celtics created a Traded Player Exception of $9.7 million in the deal.

Sacramento acquired center Tristan Thompson from Boston. Thompson is expected to give the Kings additional frontcourt depth behind recently re-signed Richaun Holmes.