If you care enough, the state-contingent market will be there

Washington has the right to swap firsts with Phoenix in 2024 if the Wizards’ first (if 13-30) to New York is not conveyed. Phoenix can trade its 2024 first but not until the night of the draft. The Wizards also have the right to swap firsts in 2026 (if 9-30), 2028 (if 9-30) and 2030. Orlando then has the right to swap its 2026 first with the less favorable from Phoenix or Washington. Memphis has the right to swap the less favorable firsts of Phoenix and Washington in 2030. The Suns owe Brooklyn unprotected firsts in 2025, 2027 and 2029. Brooklyn also has the right to swap firsts with Phoenix in 2028. The Wizards then have the right to swap the least favorable first from the Nets, Suns or the 76ers first in 2028. Phoenix has three second-round picks available to trade.

Here is more from ESPN (gated) on NBA trade options as the trade deadline approaches.  And how about the Zion Williamson contract? (NYT):

Beyond the shift for the final three years of the deal, Williamson is at risk of losing even more in guarantees if he doesn’t hit certain marks during regular checks of his weight and body fat. Under the contract, the sum of Williamson’s weight in pounds and his body fat percentage must be less than 295. He was listed as weighing 285 pounds last season, meaning his body fat could not be higher than 10 percent.

The Pelicans also have protected themselves in case Williamson has any further significant issues with the fifth metatarsal in his right foot. If he suffers a fracture or a stress injury to that bone or the healed callus, or has what the contract calls a “hardware failure” related to the previous injury there, then half of his base salary for 2024-25 would no longer be guaranteed if the team released him.

That is only one part of the complexity of the broader deal.