The question of which five NBA trades over the last decade were the most impactful leads to a broader discussion on how 'impact' can be defined. Insights from executives and agents suggest that impact is not solely measured by player performance but also encompasses trades that have influenced rule changes, altered the dynamics of the NBA's economy, or directly contributed to championship victories.

One trade that stands out is the exchange involving Norman Powell and Robert Covington being sent to the Los Angeles Clippers in exchange for Eric Bledsoe, Keon Johnson, Justise Winslow, and a 2025 second-round pick from the Portland Trail Blazers. This move holds significance as it paved the way for the NBA's 2023 collective bargaining agreement (CBA), which includes new rules aimed at limiting the flexibility of the league's highest-spending teams. The Clippers' strategy of aggregating contracts to take on larger deals became a focal point for concern. The Powell trade is viewed as a crucial factor leading to the CBA's implementation of a second apron, which restricts teams above a certain spending threshold from aggregating contracts in trades.

Another notable trade is the deal that sent DeMarcus Cousins and Omri Casspi to the New Orleans Pelicans for Buddy Hield, Tyreke Evans, Langston Galloway, a 2017 first-rounder (Zach Collins), and a 2017 second-rounder (Frank Mason III) from the Sacramento Kings. This trade, occurring during All-Star weekend while Cousins represented the Kings, resulted in one of the most awkward moments in league history. According to an executive, it was perceived as embarrassing for the league, leading to a strategic change that moved the trade deadline ahead of the All-Star game to prevent such occurrences in the future.

The trade of Anthony Davis to the Los Angeles Lakers for a package including Lonzo Ball, Josh Hart, Brandon Ingram, and several draft assets, stands as another impactful transaction. While this deal helped create a championship-winning duo with LeBron James and secured a title for the Lakers in 2020, its significance extends beyond that victory. An executive noted that it was indicative of a shift in team strategies regarding trades, where teams initially began to hold back on giving away extensive assets, spurred by the Nets' past deal with the Celtics that allowed Boston to obtain key players like Jaylen Brown and Jayson Tatum. The market for All-Star players transformed as teams began to offer a mix of assets including draft picks and young players, exemplified by the dramatic changes observed since the Davis trade.

The combined Jrue Holiday trades also bear mentioning for their championship implications. Holiday’s initial transfer to the Milwaukee Bucks from the New Orleans Pelicans for a substantial package led the Bucks to a title in 2021. Following that, Holiday was traded to the Boston Celtics, further contributing to another title victory. An executive commented on how the urgency of acquiring Holiday for immediate championship success might have overshadowed potential multi-team deals that could have maximized asset acquisition during the trades.

Nevertheless, perhaps the most future-oriented trade is the deal that sent Shai Gilgeous-Alexander, Danilo Gallinari, and a series of draft picks to the Oklahoma City Thunder in exchange for Paul George to the LA Clippers. Although the Thunder have yet to win a title from this trade, there is a prevailing belief among executives that this trade could be viewed as either critically damaging or beneficial depending on perspective. Gilgeous-Alexander’s emergence as an MVP candidate, coupled with Oklahoma City's extensive collection of draft picks, positions the franchise well for sustained success. Despite the Clippers achieving notable successes with Kawhi Leonard and George, including their first trip to the Western Conference Finals, the ramifications of this trade may linger as the two teams continue to evolve.

In addition to these prominent transactions, a number of runner-up trades were noted for their contributions to playoff success or finals appearances. For example, the trade that saw Jimmy Butler signed and traded to the Miami Heat from the Philadelphia 76ers was instrumental in Miami reaching the finals in both 2020 and 2023. Andrew Wiggins’ acquisition had a direct impact on the Golden State Warriors' championship run in 2022. Similarly, the strategic moves leading to the Dallas Mavericks' run in 2024 included acquiring Luka Dončić via a trade with the Atlanta Hawks, as well as successful trades for Kyrie Irving and role players like P.J. Washington and Daniel Gafford.

Furthermore, the Denver Nuggets' 2023 championship run was bolstered by trades that brought in key players like Aaron Gordon from the Orlando Magic and Kentavious Caldwell-Pope from the Washington Wizards. The Indiana Pacers also made impactful trades, acquiring Tyrese Haliburton from the Sacramento Kings and Pascal Siakam from the Raptors. The Toronto Raptors themselves benefited significantly from a high-stakes deal that brought Kawhi Leonard from the San Antonio Spurs in 2018, resulting in their 2019 championship. Conversely, the Los Angeles Lakers’ acquisition of Russell Westbrook in 2021, which ultimately disrupted the team’s synergy, led to subsequent trades that recalibrated the roster ahead of a Western Conference Finals push. These impactful trades illustrate how strategic decisions made by franchises can ripple through seasons, influencing titles, team identities, and the overarching dynamics of the league.