The 2025 Emirates NBA Cup quarterfinals commenced on Tuesday, November 28th, following the conclusion of group play. These pivotal matchups would determine the four teams advancing to the semifinals in Las Vegas on Saturday. With significant financial incentives, including a $530,000 bonus for each winning team player in the championship, the stakes were exceptionally high for all competitors. The competition was set to unfold across both the Eastern and Western Conferences, promising intense basketball action.

In the Eastern Conference, the Miami Heat were slated to visit the Orlando Magic, while the Toronto Raptors hosted the New York Knicks. The Magic entered their quarterfinal matchup against the Heat with mixed fortunes regarding player availability. Star forward Franz Wagner, a consistent performer averaging 22.7 points and 6.1 rebounds while improving his 3-point shooting to 36.0%, sustained a left high ankle sprain on Sunday and was ruled out, expected to miss two to four weeks. This was a blow, especially after the Magic had just welcomed Paolo Banchero back from a groin injury suffered on November 12th. Banchero, who had nine points in 20 minutes in his return game against Miami and 16 points in 24 minutes against the Knicks, would now need to shoulder the offensive load immediately. Meanwhile, the Heat, having lost four of their past five games, anticipated the probable return of guard Tyler Herro (toe) and Davion Mitchell (groin), potentially providing them a much-needed boost.

The quarterfinal clash saw the Orlando Magic triumph over the Miami Heat with a 117-108 victory, marking their first NBA Cup semifinal appearance. Despite Miami jumping out to an early 15-0 lead, the Magic dominated the subsequent quarters. Desmond Bane delivered a season-high performance, scoring 37 points, including six 3-pointers, and making a significant impact in the fourth quarter to extend Orlando's lead. Bane notably stated his motivation to "get it back somehow" after being fined $35,000 for an earlier incident. Jalen Suggs added 20 points, and Paolo Banchero contributed 18 points and seven rebounds. Norman Powell led Miami with 21 points, while Tyler Herro had 20. The Heat struggled from beyond the arc, shooting just 8-for-33 (24.2%) from 3-point range.

The New York Knicks, boasting an offense ranked third in efficiency and fourth in made 3-pointers per game, faced the Toronto Raptors. Toronto, struggling with five losses in their last six games after a strong 13-1 stretch, also contended with the absence of forward RJ Barrett due to a knee sprain. For the Knicks, a concern was their performance away from Madison Square Garden, where they had a 3-6 road record. Additionally, big man Karl-Anthony Towns was questionable with a calf injury that held him out of a recent game, although OG Anunoby had recently returned from a hamstring strain, playing 23 minutes against the Magic.

The New York Knicks secured their spot in the semifinals by defeating the Toronto Raptors 117-101. Jalen Brunson led the Knicks with a game-high 35 points, including 20 in the first quarter, effectively compensating for Karl-Anthony Towns' early foul trouble. Josh Hart continued his strong play since rejoining the starting lineup, contributing 21 points, six rebounds, and four assists, demonstrating improved 3-point shooting well over 40% from range. Towns himself recorded a 14-point, 16-rebound double-double, his 17th of the season. The Knicks' defense was particularly impactful, holding the Raptors to just 13 points in the second quarter and securing a decisive 34-13 advantage in that frame, which helped them pull away. Coach Mike Brown emphasized the team's growing identity and defensive potential, marking an improvement over their earlier road struggles.

The Western Conference quarterfinals featured the Phoenix Suns against the Oklahoma City Thunder. The Thunder were highlighted as a historical juggernaut, boasting a 23-1 start to the season and an impressive 15-game winning streak since their only loss. Their average point differential of plus-16.1 was on pace to set a new record, shattering their previous record from last season. In a previous Cup group stage finale, the Suns had pushed the Thunder to a one-point margin in the final minutes before Shai Gilgeous-Alexander's clutch performance, scoring 10 of his game-high 37 points in the final 2:40, sealed the win for Oklahoma City.

The Los Angeles Lakers prepared to host the San Antonio Spurs for their Western Conference quarterfinal. A key development for the Lakers was the return of guard Marcus Smart, who was cleared to practice after a two-week absence with a left lumbar muscle strain, adding a defensive boost. For the Spurs, superstar Victor Wembanyama was definitively ruled out for the game due to a left calf strain, an injury that had sidelined him for 11 games, though the Spurs had managed an 8-3 record in his absence. San Antonio had also seen the return of All-Star De'Aaron Fox to their lineup, who was averaging 24.3 points and 6.5 assists. Lakers coach JJ Redick highlighted the challenge of containing dynamic guards like Fox, Stephon Castle, and Devin Vassell. Lakers center Deandre Ayton, who performed well against the Spurs previously with 22 points and 10 rebounds, emphasized team defense and creating offense from transition, expressing confidence in the Lakers' chances to advance.

With the Eastern Conference determined, the Orlando Magic and New York Knicks were set to face each other in Las Vegas on Saturday. The Western Conference winners would complete the semifinal bracket. The Thunder, clear favorites with their dominant season, aimed for the championship after losing the 2024 NBA Cup finals. The Lakers, if they advanced, had the chance to become the first two-time NBA Cup champions. The tournament not only offered significant prize money for players — $530,000 for the winning team, $213,000 for runners-up, and $53,000 for quarterfinal losers — but also served as potential playoff previews. The Magic and Knicks had already played each other three times, and their familiarity, coupled with the financial stakes, promised an intense semifinal showdown in Las Vegas.