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Los Angeles Lakers superstar LeBron James has informed the franchise that he will be signing with a new team in NBA free agency, according to ESPN.

LeBron will continue his NBA career, entering Year 24 with a new team outside Los Angeles for the first time in eight years. Whether he will join one of his former franchises or a new one is yet to be determined.

Seven years after he left the city where he won his second NBA Championship, the prodigal son is returning to Toronto. Kawhi Leonard is coming off his best season in years, but was it the right move for a Raptors team fresh off a first-round exit?

Toronto Receives: Kawhi Leonard

Los Angeles Receives: Brandon Ingram, Gradey Dick, 2031 and 2033 first-round picks, 2027 pick swap, 2030 and 2033 second-round picks

Why Toronto said yes: While they took the Cleveland Cavaliers to seven games in a hard-fought first-round series, it’s clear that last season’s iteration of the Raptors didn’t have the firepower to seriously compete for a championship. By adding Leonard, not only does Toronto add a beloved fan-favorite, but also a superstar (when healthy) coming off a renaissance season at age 36. But of course, any discussion around the former two-time Finals MVP has to mention his health. Leonard has played more than 60 games just twice since 2017-18, and missed time in the playoffs on multiple occasions with LA. Regardless of the outcome of this trade, the Raptors will be happy to keep Collin Murray-Boyles, whom we reported as a major sticking point of this trade earlier in the week. Overall, it’s hard to disagree that this was a risk worth taking for a franchise stuck in neutral since Leonard left in 2019.

Why Los Angeles said yes: Since trading James Harden and Ivica Zubac at the trade deadline, the writing was on the wall for this era of Clippers basketball, despite the strong end to the season. Steve Ballmer and the Clippers were interested in retaining Leonard and still saw him as a “face-of-the-franchise” player. Still, the Raptors’ offer, including multiple first-round picks and an intriguing young player in Dick, was too good to turn down for a team clearly entering rebuild mode. The Clippers have now acquired six future firsts in trades this year, including one that became No. 5 overall pick Keaton Wagler. Add in Darius Garland and Bennedict Mathurin, and LA has a much brighter future in the medium to long-term than they had with their previous roster.

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Rumors have been swirling around Ja Morant’s future in Memphis for what feels like years now. The No. 2 pick in 2019 was once one of the NBA’s premier guards, but the 27-year-old has seen his standing in the game fall after a slew of injuries and controversial off-court moments. Now, after the Grizzlies dropped his asking price, he’s heading to Portland in a trade not a lot of people saw coming.

Portland Receives: Ja Morant

Memphis Receives: Jerami Grant, Kris Murray

Why Portland said yes: At first glance, this trade feels like a bit of a head-scratcher. The Blazers already had Damian Lillard, Jrue Holiday, and Scoot Henderson in the backcourt, so adding another point guard seems redundant. But it starts to make a lot more sense when you think about Portland's new owner, Tom Dundon. Dundon made his fortune by identifying undervalued assets in the subprime lending business, and this move feels very much in line with that philosophy. Morant may come with plenty of baggage after years of injuries and off-court issues, but he's also a former All-NBA player whose ceiling is significantly higher than either Jerami Grant or Kris Murray. With no draft picks changing hands, the Blazers are simply betting on acquiring the best talent available and figuring out the fit later.

Why Memphis said yes: As painful as it is for Grizzlies fans, this felt inevitable. Between repeated injuries and off-court issues, Morant simply became too unreliable to build around, and the era of Grizzlies basketball he once defined had already come to an end after the departures of Desmond Bane and Jaren Jackson Jr. Rather than trying to force one last run, Memphis opted to hit the reset button. The deal trims salary and the Grizzlies now have the flexibility to build around an entirely new core of young talent instead of clinging to the remnants of the old one.

We’re only in day two of free agency, and there are still a lot of questions left unanswered. Let’s take a look at some of the biggest storylines left to wrap up.