So free agency has sorta kinda already started. Once the finals ended teams were allowed to start negotiating with any free agent that ended the season on their roster.
At 6PM June 30th (Monday), teams are allowed to start negotiating with all free agents. But nobody can sign yet.
July 1st - July 5th all rosters are frozen. No trades, cant sign anyone (Maybe your draft picks), etc. They use this time to collect the financials from last season and set the new salary cap. The cap is 51% of last years basketball related income.
July 6th - This officially starts the new 2025-26 season. Teams can now sign free agents and make trades. Some of the trades announced the past week or so will now be completed.
They changed restricted free agency a few years ago. I think now, when a restricted free agent signs an offer sheet with another team, his original team has two days to match it. Once a player signs an offer sheet, he can no longer be signed and traded. The old rules let players sign the offer sheet, then a S&T could be negotiated. Restricted free agents can be signed and traded, but it has to be negotiated before the offer sheet is signed.
July 1st is when extensions can start for guys coming off of rookie contracts. Ivey and Duren are the only two Pistons players eligible for this. They can sign an extension up to the first regular season game. The leagues first game, not necessary the Pistons. If they don't sign an extension by then, they can no longer sign one and will enter restricted free agency next summer.
October 31st - Teams have until Halloween to exercise team options for guys on rookie deals. This would be Holland, Sasser, and Thompson. Rookie contracts are 2 years guaranteed with team options for years 3 and 4. If an option is not picked up the player is a free agent next summer.
June 29th, 2026 - Qualifying offers have to be offered to guys on rookie deals entering free agency next summer. So Duren and Ivey. Actually, Smith and Harper too. It's a 1-year offer at a price determined by the previous seasons salary. If a team doesn't offer it, the player enters free agency next summer as an unrestricted free agent instead of restricted. If a team/player can not negotiate a new contract next summer, the player can sign the QO, play the 1 season under it, and becomes an unrestricted free agent the next summer.
There is a 36% chance I just made all of this up.