Following the NBA's All-Rookie and All-Defensive Teams that were revealed earlier this week, the NBA has today announced the All-NBA First, Second and Third Teams. Both Giannis Antetokounmpo and James Harden, the two MVP favorites, were unanimously selected to the All-NBA First Team.

The All-NBA results are as follows:

All-NBA First Team: Nikola Jokic, Giannis Antetokounmpo, Paul George, James Harden and Stephen Curry.

All-NBA Second Team: Joel Embiid, Kawhi Leonard, Kevin Durant, Kyrie Irving and Damian Lillard.

All-NBA Third Team: Rudy Gobert, Blake Griffin, LeBron James, Kemba Walker and Russell Westbrook.

According to ESPN, this marks the first season that LeBron wasn't named to the All-NBA First Team since the 2006-07 season, and it's only the second time he wasn't on the first or second teams since his rookie year in 2003-04.

These All-NBA honors have major implications as far as free agency is concerned. For instance, Kemba Walker is now supermax eligible (5 years, $221M) with Charlotte, whereas any other team can only offer him a four-year $181 million deal. Additionally, Damian Lillard is now eligible for four-year, $191 million extension with the Blazers this summer.

Klay Thompson and Bradley Beal both missed the cut, and therefore won't qualify for a supermax contract extension. Similarly, Karl-Anthony Towns misses out on a $32 million incentive in his contract because he wasn't one of the 15 All-NBA selections.