Star players coming to the end of their second contracts can receive significantly larger deals through the Designated Player Exception—a provision in the new Collective Bargaining Agreement which goes into effect on July 1.
Announcing the All-NBA teams early allows DPE-eligible players and their teams to adequately plan ahead for free agency.
More from the Washington Post:
To allow for its teams to have all the necessary information to make offseason preparations, the NBA will announce its all-NBA teams before its inaugural awards show in late June, according to league sources.
Because of the newly created Designated Player Exception, which relies on players making, among other things, one of the three all-NBA teams to qualify, decisions about whether players — such as Indiana Pacers star Paul George, for example — will be willing to remain with their current team or be open to being traded elsewhere could be based upon whether a player is voted on to one of the teams.