NBA Free Agents 2011: Latest News and Updates for Free Agent Bonanza

NBA free agency is finally here, but we already know where a few players will land. Get ready for a crazy day where some rumors will finally become truth. 

On Thursday, Chris Paul was traded to the LA Lakers in a three-team blockbuster deal, but hours later the NBA killed it, according to Yahoo! Sports' Adrian Wojnarowski.

It was a shocking move, and many wonder what will come of it on Friday and on through the weekend. Yahoo! Sports staff has obtained an e-mail that Cleveland Cavaliers owner Dan Gilbert sent to NBA commissioner David Stern. In that e-mail, Gilbert shares his frustration of the news about the Chris Paul trade, calling it a "travesty." 

It was a raw deal for Paul, but hopefully things work out for him in the end. We will definitely keep you informed once anything happens. 

With several teams in need of key starters and role players, the first day of free agency is sure to be very exciting. 

Stay tuned and check back with us as we provide you the latest news and updates for all the NBA action taking place. 

Detroit Pistons Expected to Waive Richard Hamilton

The Detroit Free Press is reporting that the Pistons are expected to waive Richard Hamilton. 

He was set to make $22 million over the next two seasons, but the paper states, "his contract is expected to be bought out by the Pistons." 

This would allowed Hamilton to go wherever he pleases, and there should be a number of team pursuing him because he's a talented shooting guard with valuable experience that can still play at a high level. 

Expect him to go ring chasing though since he'll turn 34 this season. 

Boston Celtics Re-Sign Jeff Green to One-Year Deal

The Boston Celtics have re-signed restricted free agent forward Jeff Green to a one year contract, according to CSNNE.com's A. Sherrod Blakely.

Green came to Boston in the trade that sent Kendrick Perkins and Nate Robinson to the Oklahoma City Thunder at last year's trading deadline.

Dallas Mavericks Closing in on Signing Vince Carter

ESPN's Marc Stein has reported via twitter that the Dallas Mavericks are closing in on a deal for free agent guard Vince Carter. 

Earlier on Friday, the Mavericks lost free agent center Tyson Chandler to the New York Knicks.

Thaddeus Young Re-Signs with Philadelphia 76ers

Kate Fagan of the Philadelphia Inquirer reported that star forward Thaddeus Young will re-sign with the Philadelphia 76ers. 

It was their No. 1 priority this offseason, and the 76ers finally got the deal done. Young has agreed to a five-year, $42 million deal. The 23-year old was drafted by the 76ers with the 12th pick in the 2007 NBA draft.  

Phoenix Suns Waive Vince Carter, Gani Lawal

The Suns continue to be active on Friday, as beat writer Paul Coro of The Arizona Republic reports that Phoenix has decided to waive Vince Carter and Gani Lawal. 

The soon-to-be 35-year-old must now search for a new team. This is something he probably knew was coming, so stay tuned to see where he ends up cause it may not be long before he has a new home. 

Getting rid of Lawal should come as no surprise either since the Suns drafted Markieff Morris earlier this year. Lawal was a second round draft pick in 2010, but he was buried on the depth chart. 

Teams Tampering with Dwight Howard

UPDATE: 

Ken Berger of CBSSports.com reports that the Rockets will not be investigated for tampering with Dwight Howard. However, the Magic are still considering going after New Jersey. 

Sam Amick of NBAConfidential.com tweeted that his source now says the Rockets are out because "lack of information."

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David Aldridge reports that the Orlando Magic are considering filing for tampering charges because two teams had illegal contact with Dwight Howard. 

ESPN's Chris Broussard tweeted that one of those teams was the New Jersey Nets, and that Howard met with the owner and the GM on Thursday night. 

Sam Amick of NBAConfidential.com tweeted that his sources are telling him the other is the Houston Rockets. 

This is serious and shocking news, and if true, the Nets and Rockets should be ashamed.

Earlier today, is was reported by Broussard that Howard was demanding a trade, but now that may not happen. 

Chris Paul Update

After the trade was cancelled, Chris Paul's father, Charles, decided to speak up and share his frustration. 

Charles Paul talked to Chris Haynes of CSNNW.com, and said some strong words. 

"

Chris is pissed off. He's going to leave after the season anyway and it's not right that these owners are trying to dictate where Chris lands. 

That was a great deal for the Hornets. This was something the owners should have discussed during the CBA negotiations. They shouldn't have thought Chris was going to re-sign with New Orleans. He wants to go somewhere he can win. That's it.

"

He certainly has a right to be angry, as does CP3. For a few hours, Paul thought he was headed to Los Angeles, but now he's pretty much stuck in limbo because it's very clear he doesn't want to be with New Orleans anymore.

David Stern released a statement explaining why he called off the deal. 

"

Since the NBA purchased the New Orleans Hornets, final responsibility for significant management decisions lies with the Commissioner’s Office in consultation with team chairman Jac Sperling.  All decisions are made on the basis of what is in the best interests of the Hornets.  In the case of the trade proposal that was made to the Hornets for Chris Paul, we decided, free from the influence of other NBA owners, that the team was better served with Chris in a Hornets uniform than by the outcome of the terms of that trade.

"

Looks like Mr. Stern doesn't know basketball very much because the Hornets were going to get a ton of talent in return for just one guy. Paul is going to leave after this season, which will leave the Hornets will basically nothing. 

Perhaps that's what he wants though. Either way, this won't be the last we've heard of from Stern regarding this trade, so stay tuned. 

Marcus Thornton Signs with Sacramento Kings

According to Chris Broussard of ESPN, the Sacramento Kings will be hanging on to Marcus Thornton. 

Broussard's sources tell him the deal will be five years and worth $40 million. 

By keeping Thornton, the Kings will be very guard heavy this upcoming season with Thornton, Tyreke Evans and Jimmer Fredette. 

Good news for them though, as Marc J. Spears of Yahoo! Sports reports that the Kings have signed center Chuck Hayes to a four year deal worth $21.3 million. 

Tyson Chandler Close to Signing with New York Knicks

UPDATE: 

The New York Times is reporting that Chandler will indeed become a New York Knick. Howard Beck states that, "Chandler is expected to sign with the Knicks on Friday afternoon." 

His sources tell him that, "It will be finished today." The problem right now is trying to trade Ronny Turiaf, but the belief is that it will get done.

The Knicks will also waive Chauncey Billups, leaving them very thin at point guard. 

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Chandler just won an NBA Championship, and now he's looking to get paid. The Dallas Mavericks are sure he will not return, but nothing is set in stone just yet. 

A deal is likely to be done today, but there are other teams are actively pursuing Chandler. Marc Stein of ESPN reports that one source tells him that he's "98 percent sure that Tyson is going to wind up with the Knicks." 

The Knicks would have to get rid of Chauncey Billups and Ronny Turiaf in order to free up cap space to sign one of the top big men available on the market. The New York Post is reporting that Turiaf is the hold up in the deal for Chandler. They'd have to trade him, but that is proving to be difficult. 

Billups is rather upset at the idea of being let go, and instead of attending workouts with the team, the paper states he flew back to Denver "without the Knicks' blessing." 

Matt Steinmetz of CSNBayArea.com reports that the Golden State Warriors are throwing a four-year deal for over $60 million.

This is something to keep an eye on throughout the day, but if Chandler were smart, he'd sign with the Knicks.  

Orlando Magic Waive Gilbert Arenas

Orlando Magic General Manager Otis Smith announced today that the team has decided to use the amnesty clause on guard Gilbert Arenas. 

NBA.com had the report, and it should come as no surprise. This move frees up much-needed space for Orlando. 

The Magic acquired Arenas from Washington this past season, and it's clear to see they're enduring a number of changes before the start of the season. 

Celtics Trade Glen Davis for Magic's Brandon Bass

The Boston Celtics have agreed in a sign and trade to send Glen "Big Baby" Davis to the Orlando Magic in exchange for Brandon Bass. 

Marc J. Spears of Yahoo! Sports tweeted the breaking news, and Davis will be getting a four-year deal worth close to $26 million dollars. 

It definitely makes you wonder what the Magics intentions are. 

Davis could be used in a deal with Dwight Howard, or perhaps they're getting him because they will in fact trade Howard before the season starts. Or maybe this is a push to please Howard and convince him to stay. 

There is still a lot of time left for deals to be made, so keep checking back. 

New Jersey Nets After Nene

With Tyson Chandler likely headed to the Knicks, and the uncertainty of a Dwight Howard trade, the Nets are looking elsewhere. 

Stefan Bondy of the New York Daily News tweeted the latest on the Nets potential moves. 

His sources tell him that after the Nets increased the offer for Nene, they are very close to signing him. 

James Jones Re-Signs with Miami Heat

Many wondered what would happen to James Jones after the Miami Heat signed Shane Battier, but now we know, he's coming back too. 

Chris Tomasson covers the NBA for FOX Sports Florida, and he reported that Jones is coming back. 

Jones is known for his specialties from beyond the arc, and the Heat wanted him back for his three-point shooting skills. 

Grant Hill Re-Signs with Phoenix Suns

The Phoenix Suns are at it again, but this time they're keeping a player as opposed to getting rid of one. 

Paul Coro covers the Suns for the The Arizona Republic, and he tweeted the breaking news on Hill returning to Phoenix. 

Hill will sign a one-year deal worth $6.5 million. Not bad for a 39-year-old that's been in the league for 16 years.

Care to toss me a couple bucks Grant? I'll even cheer for Duke. 

Mickeal Pietrus Traded to Toronto Raptors

Free agent signings aren't the only things happening today. Yes, even some minor trades are going down. 

Mickeal Pietrus has been traded to the Toronto Raptors, and in return, the Phoenix Suns will get a second round pick, according to Doug Smith of The Star. 

The Suns are merely free up space with this move, as Pietrus has one year and $5.3 million left on his contract. 

Dwight Howard to Demand a Trade

OK, so technically he's not a free agent now, but soon he will be, and every team out there will want him. This is why the Orlando Magic need to trade him to get value in return. 

Chris Broussard of ESPN has sources telling him that Dwight Howard will ask to be traded to the New Jersey Nets.

Thursday was Howard's 26th birthday, so it's only appropriate the Magic trade him for his birthday. After all, there's a slim chance he stays with them over leaving for a title-contending team. 

Caron Butler Signs with LA Clippers

Fresh off winning an NBA championship with the Dallas Mavericks, Caron Butler has decided to play elsewhere this coming season.

According to Broderick Turner of the Los Angeles Times, Butler will sign a three-year deal worth $24 million with the LA Clippers.

This is an interesting move by the Clippers, considering they have a young talented small forward in Al-Farouq Aminu. 

Butler does bring some much-needed experience to the team, but coming off an injury, one has to wonder if he'll stay healthy enough to contribute. It's a gamble by the Clippers, but if it pays off, then it's all worth it. 

Tayshaun Prince Re-Signs with Detroit Pistons

Tayshaun Prince was looking to get paid this offseason, and after having played with the Pistons for his entire career, many wondered if he would look for a change. 

That didn't happen, as Prince agreed to four-year, $27 million deal, according to Vince Ellis of the Detroit Free Press. 

Ellis also reports the Pistons signed Jonas Jerebko to a four-year, $16 million deal. 

Shane Battier Signs with Miami Heat

Entering his 11th year in the NBA, Shane Battier has played for two different teams, but he plans to join a third one for this season. 

Battier did what a lot of people love doing these days, announcing his big decision via Twitter. Even LeBron James had to send him a tweet expressing his joy for his new teammate.  

Some will say he's chasing a ring, but you can't really blame him. Battier will be a vital role player for the Heat in crucial moments, something they lacked last season. 

Greg Oden Re-Signs with Portland Trail Blazers

As a former No. 1 overall draft pick, Greg Oden has dealt with a number of injuries that have forced him to be labeled as a bust. 

Of course, there is hopefully plenty of time to change that, and he's looking to do it in Portland. Jason Quick of The Oregonian reports that Oden will sign a one-year deal worth $8.9 million. 

Oden, who will turn 24 in January, was cleared to "cut, pivot and shoot" when he shows up for Blazers camp. However, he's not allowed any full contact just yet. 

The injury-prone big man needs to stay healthy this year and prove he was worthy of being re-signed. 

Mario Chalmers Re Signs with Miami Heat

Mario Chalmers has taken to Twitter to tell everyone where he will play next year. He wasn't the first to do this, and he won't be the last.

Athletes are using the social media site to not only voice their thoughts and opinions but also to share big news.

This is a great move by the Heat, as Chalmers is a young star in the making. He's comfortable with the team, and has the clutch gene should LeBron James or Dwyane Wade be unable to take the shot. 

Jamaal Tinsley Signs with Utah Jazz

It's been a couple years since Jamaal Tinsley played in the NBA, but he's making a comeback. 

David Aldridge first reported from his sources that Tinsley will sign with the Utah Jazz. 

The Salt Lake Tribune reports that details on the contract are still being worked out. 

Shelden Williams Signs with New Jersey Nets

NBA journeyman Shelden Williams has a new home now, according to reports. 

Adrian Wojnarowski of Yahoo! Sports tweeted that Williams will sign a one-year deal with the New Jersey Nets. 

Of course, one has to wonder if they're bringing him in to use as trade bait for Dwight Howard.