As the 2025 NBA Finals approach, the playoffs have already provided an array of stunning highlights, intense matchups, and performances that encapsulate the narratives of this era. While numerous memorable moments are still to be experienced, the postseason has offered a plethora of compelling stories worthy of analysis. This article will examine the notable developments through the familiar lens of winners and losers.

Historically, the Boston Celtics, Chicago Bulls, Golden State Warriors, Los Angeles Lakers, and Philadelphia 76ers, representing major media markets and storied franchises, have contributed significantly to the NBA Finals landscape since the 1976 NBA-ABA merger. Over the past 49 seasons, these teams have combined for 43 Finals appearances. However, this year has seen a significant deviation from that trend, as neither Philadelphia nor Chicago made the playoffs, and the Lakers were eliminated in the first round. Golden State and Boston fell in the second round, while the New York Knicks, despite representing the league's largest media market, were sent home after reaching the conference finals. Unlike the NFL, characterized by parity, the NBA has been defined by the dominance of dynasties and significant market representation in its Finals. The 2025 Finals will feature the Indiana Pacers and the Oklahoma City Thunder, teams from markets ranked 22nd and 26th, respectively, reflecting a potential shift in the league's dynamics.

The concept of the 'strong link' versus 'weak link' teams in basketball has gained increased attention, particularly as teams appear to demonstrate that having a standout player or a so-called 'big three' may no longer guarantee success in the playoffs. As Owen Phillips of The F5 newsletter argues, 'basketball is a strong link sport’, suggesting that teams with the best individual players tend to win. However, the playoffs expose weaknesses in teams, as lesser players can hinder a team’s overall performance. During the postseason, weak defenders are targeted, and reluctant shooters are ignored, which means the effectiveness of a premier player can be minimized if weakened by the performance of their teammates. This postseason highlights the importance of depth, as the Pacers and Thunder, both with nine or ten players regularly contributing, demonstrate that avoiding 'weak links' is essential for success. Teams must strategically develop young talent or players who can deliver on lower salaries, as investing heavily in a few stars could leave a roster vulnerable to inconsistency.

Notably, LeBron James and Stephen Curry continue to serve as prominent figures representing the above-mentioned major markets. James has appeared in the NBA Finals ten times, while Curry has made six trips. However, the 2025 postseason has not brought them anywhere close to contention. Several contemporaries, including Kevin Durant and Chris Paul, did not qualify for the playoffs, while stars such as Damian Lillard, James Harden, and Kawhi Leonard were eliminated in the first round. Russell Westbrook's team was defeated in the conference semifinals, further emphasizing the gradual decline of the LeBron and Curry era, which may be nearing its conclusion. With emerging teams like the Thunder, Pacers, Houston Rockets, and Minnesota Timberwolves on the rise, the outlook for either superstar’s chances at a championship has diminished significantly.

The current postseason does offer a promising glimpse into the future talent of the league. Players such as reigning MVP Shai Gilgeous-Alexander, along with teammates Jalen Williams and Chet Holmgren, present a bright outlook for the Thunder. Young stars like Anthony Edwards, Tyrese Haliburton, and established players like Giannis Antetokounmpo and Nikola Jokić all represent a potential shift in the league's focal point. Even in their exit, Luka Dončić and the Boston Celtics duo of Jayson Tatum and Jaylen Brown remain formidable contenders, all of whom are still in the prime of their careers. The league has experienced a notable evolution in talent, and indications suggest that a new gravitational star will emerge, perhaps hinted at during this postseason.

The question regarding the length of the NBA season remains a topic of debate. Some analysts and fans advocate for maintaining the traditional 82-game schedule, as it has been a hallmark of the league for decades. Surviving a complete regular season alongside a deep playoff run presents a unique challenge. However, following a postseason marred by significant injuries—including both Tatum and Lillard suffering ruptured Achilles tendons—arguments advocating for a shortened season are gaining traction. Reducing the number of games may decrease injury risks, potentially leading to healthier teams, a more competitive regular season, and enhanced playoffs. While the financial implications of shortening the season are undoubtedly substantial, the long-term benefits could outweigh the immediate drawbacks.

Additionally, the recent implementation of an in-season tournament may also be impacting team dynamics. Both the Pacers and the Thunder, who performed well in the inaugural tournament, have parlayed that momentum into deep playoff runs, ending up in the Finals. This suggests that teams engaging with the tournament may possess an added level of motivation leading into the playoffs, as they carry the lessons learned and hunger from previous competitions.

Despite the mitigating circumstances of injuries to key players like Darius Garland, Donovan Mitchell, Evan Mobley, and De'Andre Hunter, the Cleveland Cavaliers' disappointing performance this postseason remains noteworthy. Finishing the regular season with a remarkable 64-18 record, the Cavaliers had anticipated strong playoff success. However, they were defeated by the Pacers in just five games, which raises questions regarding team chemistry among Garland, Mitchell, Mobley, and Allen, leading to speculation about potential offseason moves. Though this postseason raises doubts about their title credentials, the Cavaliers showcased promise throughout the season.

In contrast, the Pacers have exemplified the value of patience with their strategic approach, marked by their surprise run to the conference finals in 2024. Rather than succumbing to the pressure of a single playoff outcome, they displayed resilience by trusting their core roster, including the impactful acquisition of Pascal Siakam. Their success underscores the virtues of depth, effective ball movement, and player contributions across the roster. Individual performances from Tyrese Haliburton, who overcame past criticisms as 'overrated,' and Siakam, now with an Eastern Conference Finals MVP under his belt, have further solidified their standing. Secondary players such as Aaron Nesmith and Andrew Nembhard also proved their worth in both offensive and defensive plays, contributing significantly to the Pacers' success.

On a contrasting note, the Denver Nuggets face considerable challenges following their exit in the second round, as their season ended without securing a championship amid a backdrop of organizational dysfunction. With Nikola Jokić's prime continuing without a title, questions loom over the future of the franchise. Despite these setbacks, the Nuggets' fierce performance against the Thunder suggests they remain a formidable force moving forward. Jokić's performance in the playoffs reflected his league-leading impact, evidenced by his impressive averages of 28.4 points, 13.9 rebounds, and 5.9 assists against the Thunder. As dominant challengers, the Nuggets may still be progressing toward contending for a title in future seasons.

Among the unexpected outcomes of the current playoffs, the Oklahoma City Thunder stand out as a clear success. They broke several single-season records, including average point differential and total wins by double digits. The team is spearheaded by MVP Shai Gilgeous-Alexander, with Jalen Williams providing critical contributions. Additionally, the offseason acquisition of players like Alex Caruso and Isaiah Hartenstein has solidified their depth and effectiveness. Although the team still has goals to accomplish, their path forward appears strong, leading them to be the favorites in the Finals. The Thunder are poised to emerge as one of the key victors of the postseason.