The Celtics busy offseason continued on Tuesday as ESPN's Shams Charania reported that the team traded Kristaps Porzingis to the Hawks in a three-team deal.

The trade is the second in two nights for Boston, who also reportedly sent Jrue Holiday to the Trail Blazers on Monday night. Both these moves are signals of the Celtics' intention to shed some payroll during the offseason after going all-in over the past few seasons.

Porzingis and Holiday each spent two seasons with the Celtics, winning the NBA title in their first before being eliminated in the second round this season. Now, their exits are the beginning of a new era in Boston.

Here's what these moves mean for the Celtics' salary cap

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Celtics salary cap space

By trading both Porzingis and Holiday, the Celtics shed themselves of two major contracts for the 2025-26 season. Holiday has three years left on his deal, which includes a player option for the third, and is set to make $32.4 million next year. Porzingis, meanwhile, is on an expiring contract and will make over $30 million next year before hitting free agency.

In exchange, Boston adds both Anfernee Simons and Georges Niang for next year, both are on expiring deals. Simons will make $27.7 million next year, while Niang will make $8.2 million, alleviating the Celtics of almost half of the money they would've paid Holiday and Porzingis next year.

Trading Kristaps Porzingis now puts Boston under the second apron.

The Porzingis and Jrue Holiday trades save Boston a projected $180M in tax penalties.

— Bobby Marks (@BobbyMarks42) June 24, 2025

MORE: Grading Celtics-Trail Blazers trade involving Jrue Holiday | Kristaps Porzingis trade grades

The two deals help Boston get below the second apron, as ESPN's Bobby Marks has them currently at $180 million in payroll for next year. The Celtics are still $7.4 million above the first apron and $15.4 million above the luxury tax number, but these two deals have reportedly saved them an estimated $196 million, per Spotrac's Keith Smith.

WAY more to come, but the Boston Celtics are now out of the second apron by $4.5M.

The Celtics are $7.4M over the first apron and about $15.4M over the luxury tax.

— Keith Smith (@KeithSmithNBA) June 24, 2025

Boston has made it clear that it wants to alleviate its tax bill next season, so the team may not be done in clearing cap space this offseason.

Moving forward, the Celtics' two biggest contracts belong to Jaylen Brown and Jayson Tatum, as both players will make over $53 million next year on ascending deals that run through 2029 and 2030, respectively. Additionally, Derrick White will make over $28 million next year on his contract that expires after the 2029 season.

After those three and the newly-acquired Simons, Boston's next highest-paid player is currently Sam Hauser at over $10 million, who might be the next cap casualty.

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Boston Celtics payroll 2025-26

Here's a look at the Celtics' estimated payroll for the 2025-26 season per Spotrac.