$1.7B spent during opening day of free agency

NBA owners were far from frugal during the opening day of free agency.

More than $1.7 billion was handed out to 27 players on July 1, with the average contract totaling more than $62 million.

Mike Conley was the biggest earner of the day, reportedly agreeing to a five-year, $153-million deal to stay with the Memphis Grizzlies - the largest contract in NBA history.

While Friday saw its fair share of spending, the two biggest names in free agency - Kevin Durant and LeBron James - did not agree to deals.

The steep rise in the salary cap led to a number of eye-popping contracts, with several role players agreeing to deals nearing nine figures.

With many teams still flooded with cap space, expect more of the same in the coming days.