As the 2025 NBA Finals approach, the playoffs have already delivered numerous highlights, competitive series, and standout performances that have shaped the narrative of the league. While exciting moments remain to come, the postseason thus far has provided a wealth of material to analyze. This article will explore the prominent storylines through the lens of 'winners and losers.'

In the 49 years since the NBA-ABA merger in 1976, iconic franchises such as the Boston Celtics, Chicago Bulls, Golden State Warriors, Los Angeles Lakers, and Philadelphia 76ers have collectively reached the Finals 43 times. However, this season proved unusual, as neither Philadelphia nor Chicago made the playoffs. The Lakers were eliminated in the first round, while both Golden State and Boston were out by the second round. The New York Knicks, representing the largest media market, reached the conference finals but were eliminated as well. Unlike the NFL, which has long been characterized by competitive balance, the NBA has historically showcased dynasties and renowned franchises during its marquee events. The upcoming Finals will break this trend, featuring the Indiana Pacers and Oklahoma City Thunder from the league's 22nd and 26th largest markets, respectively.

Traditionally, success in the NBA has aligned with the idea of possessing the best player in a series or a dominant trio. Owen Phillips, a prominent sports writer, has emphasized this season, stating, 'basketball is a strong link sport,' suggesting that teams with elite players like Michael Jordan or LeBron James typically secure victories. Conversely, in 'weak link sports,' success hinges on minimizing the influence of weaker players. This perspective sheds light on the dynamics of playoff performance; teams often exploit poor defenders and hesitant shooters, nullifying the impact of their star players. The current narrative also underscores the growing significance of depth. The Thunder and Pacers, the last two remaining teams, have showcased nine or ten-player rotations throughout the playoffs, with lineups free from glaring weaknesses. Identifying younger talent willing to contribute on lower salaries will be essential for future success, as the trend of prioritizing a few superstars while skimping on the rest of the roster becomes increasingly risky in the current salary cap landscape.

LeBron James and Stephen Curry represent two of the league's most notable stars, with James appearing in ten Finals and Curry in six. However, both players fell short of contention in 2025, alongside contemporaries such as Kevin Durant and Chris Paul, who did not qualify for the playoffs. Other elite players like Damian Lillard, James Harden, and Kawhi Leonard faced elimination in the first round, while Russell Westbrook served as a reserve on a team ousted in the conference semifinals. This marks a challenging turning point for James and Curry, who have long defined the league's landscape. Their chances of competing for championships now seem diminished, particularly with teams like the Thunder, Pacers, Houston Rockets, and Minnesota Timberwolves emerging as competitive contenders. This transition also signals a gradual conclusion for players who once appeared untouchable.

Nevertheless, there is a promising cadre of emerging stars ready to take center stage. Figures including reigning MVP Shai Gilgeous-Alexander, along with teammates Jalen Williams and Chet Holmgren, as well as Anthony Edwards and Tyrese Haliburton, have exhibited potential for future greatness. Giannis Antetokounmpo and Nikola Jokić have only recently begun their thirties. Luka Dončić, along with the Boston Celtics' Jayson Tatum and Jaylen Brown, all remain significant figures, reinforcing the notion that the NBA continuously cultivates its next gravitational star. The ongoing playoffs have hinted at which talents might ascend as major figures in the league.

As for the structure of the NBA season, there exists a debate around the traditional 82-game format. This landmark number has been integral to the league for decades, posing a significant challenge to teams aiming for success during regular and postseason play. Although individual and career records may not hold the same prominence as in baseball, they still retain considerable importance. Shortening the season could undermine Stephen Curry's record for three-pointers or LeBron's scoring achievements in the long run. However, injuries throughout this postseason, including those suffered by Jayson Tatum and Damian Lillard, alongside injuries to members of the Cleveland Cavaliers' rotation, have sparked a discussion favoring the pro-shortening side.

The logic suggests that a reduction in games and increased intervals between them might help mitigate injury occurrence. If this change results in healthier teams, a more competitive regular season, and playoff series, then the temporary financial impact of eliminating 10-15 games may prove worthwhile. Additionally, the NBA's recent experiment with an in-season tournament, while met with mixed reactions, could foster enthusiasm among players and fans. The Pacers were the runners-up in the inaugural tournament last season, with the Thunder taking second this year; both teams now find themselves in the Finals. Their participation may have fostered a greater hunger for the ultimate title this postseason.

Looking at the Cleveland Cavaliers, despite their strong regular season performance with a 64-18 record, their playoff exit was disappointing. Despite several players, including Donovan Mitchell and Jarrett Allen, showcasing elite talent, they succumbed to the Pacers in just five games. As they attempt to assess their future, questions linger regarding the compatibility of their backcourt duo, Garland and Mitchell, as well as their frontcourt pairing of Mobley and Allen. Trade discussions for any player, except perhaps Mobley, seem plausible.

In contrast, the Pacers' journey to the conference finals last year was unexpected, but they responded to challenges without overreacting. They maintained faith in their Pascal Siakam trade, endured a poor start to this season, and successfully leveraged the dual talents of Siakam and Haliburton to reach the Finals. Their commitment to patient development exemplifies a broader trend towards appreciating ball movement and player depth. Haliburton's performance has effectively dispelled notions of him being overrated, while coach Rick Carlisle has raised questions about the NBA's historical coaching rankings. Siakam's accomplishment of an Eastern Conference Finals MVP is supportive of his burgeoning Hall of Fame candidacy, and several role players have stepped up to showcase their capabilities on both ends of the floor.

Regardless of the outcome in the Finals, the Pacers emerge as undeniable winners of the postseason. On the other hand, the Denver Nuggets faced considerable challenges despite being eliminated in the second round. Following their internal disarray and the departure of both head coach and general manager, the franchise has yet to secure a title during Nikola Jokić's prime. Their playoff exit also lacks the recognition they might deserve, as their competitive game against the Thunder established a strong argument for being the second-best team in the postseason. Jokić's impressive averages of 28.4 points, 13.9 rebounds, and 5.9 assists over a tough series points toward the notion that they might contend for titling contention sooner rather than later.

As discussions evolve regarding possible trades involving Jamal Murray or Michael Porter Jr., it may be prudent to consider minor adjustments rather than drastic overhauls of the roster. The matchup against the Thunder has primarily unfolded predictably, with their historical dominance contributing to expectations. OKC set new single-season records in point differential, total double-digit victories, and total victories by 15 or more points. With the league MVP Shai Gilgeous-Alexander leading the charge, the team also benefits from valuable contributions by Jalen Williams, analogous to Scottie Pippen during his era. The team has skillfully navigated the competition while maintaining a treasury of draft assets indicative of a rebuilding squad. Their success this postseason appears almost assured, with odds reflecting their status as overwhelming favorites to secure the title.