Ben Margot/Associated Press

The free-agent market for veteran DeMarcus Cousins may have dissolved.

According to ESPN's Adrian Wojnarowski, Cousins may not even get offered a mid-level exception, the type of contract he signed last year to join the Golden State Warriors:

Two things have happened that have led to this point for Cousins. First, the center market this year was saturated, and teams didn't wait around to address needs.

The Philadelphia 76ers addressed their backup center position by agreeing to a deal for both Al Horford—who will start at the 4 but can play the 5—and Kyle O'Quinn. Nikola Vucevic re-upped with the Orlando Magic. Brook and Robin Lopez are joining forces in Milwaukee. Marc Gasol is staying in Toronto. DeAndre Jordan is reportedly heading to the Brooklyn Nets. Jonas Valanciunas is returning to Memphis. Washington reached an agreement with Thomas Bryant. Nerlens Noel is back in Oklahoma City. The Boston Celtics snagged Enes Kanter. Kevon Looney ran it back with Golden State.

And the list goes on. If Cousins was hoping teams would reserve salary-cap space after the top-tier stars signed, the gambit backfired.

But Cousins is also a 28-year-old center coming off two injury-plagued seasons. During the 2017-18 season, Cousins was projected to be a max player on the market once he hit free agency. But he tore his Achilles in January 2018, and teams were scared away in free agency last summer.

The Warriors stepped in with a one-year mid-level exception, and everyone assumed they were going to win a third straight title. So Cousins wasn't going to get his payday, but at least he would get a championship.

And he played well for the Dubs once he returned midseason, averaging 16.3 points, 8.2 rebounds and 3.6 assists. But then the playoffs came, and Cousins got hurt again in the first round and did not return until the NBA Finals.

In the process, several other Warriors—Kevin Durant, Klay Thompson and Kevon Looney—battled through injuries or missed time altogether. And a depleted Warriors team lost to the Toronto Raptors, ending Cousins' title hopes.

And now, his market has shriveled. It's possible that either the Lakers or Clippers—whichever team, or both, loses out on Kawhi Leonard—could make him a competitive offer. But beyond that, most teams simply have spent their available cap space.

It's been an unlucky, tough two years for Cousins, who still has plenty of good basketball left in him. He may just have to play that basketball next season on a below-market deal.