NBA Rumors: Richard Hamilton, Chauncey Billups, Chris Paul and the Latest Buzz

Richard Hamilton and Chauncey Billups have been reunited once again. Don't get too excited though because it's not in the way that you'd expect, as both their names have entered the swirling NBA rumor mill.

Hamilton and Billups were once part of an NBA championship-winning backcourt as members of the 2004 Detroit Pistons, but they were torn apart by a trade that saw Billups go to Denver in return for Allen Iverson.

They aren't on the same team anymore, but they do find themselves in similar situations.

Both players' names have come up in the many rumors and speculations before the lockout-shortened begins.

They aren't the only big-names in the news though.

Here is a breakdown of the latest NBA rumor buzz:

Richard Hamilton

Justin Rogers of MLive.com is reporting that Richard Hamilton appears bound for the Chicago Bulls.

While nothing is official, Rogers cites a tweet from Chris Mannix of Sports Illustrated that calls Rip to Chicago a "lock."

This would be a huge move for the Bulls, as it has been rather obvious that they've needed help at the shooting guard position.

Hamilton is known for his deadly mid-range jumper off of screens, and he could be a very valuable safety valve and consistent presence for Derrick Rose.

Chauncey Billups

Ian Begley of ESPN.com is reporting that the New York Knicks have used their amnesty clause on veteran point guard Chauncey Billups.

Because the Knicks used the amnesty on Billups, teams below the salary cap will be able to bid for him. But according to the report, Billups' agent says he may retire rather than play for a team he doesn't want to be on.

Billups has been a great player with championship pedigree, so I wouldn't be surprised if he stepped down if the right team doesn't come calling.

Chris Paul

Obviously Chris Paul is the biggest name on the NBA rumor mill right now, and after the botched trade attempt to the Lakers that resulted in an apparent veto from the league, it seems as if everybody is in the dark.

According to multiple reports, all three teams involved in the first attempt—the Lakers, Hornets and Rockets—have resumed talks to try it again a second time.

Chris Broussard and Marc Stein of ESPN.com reports on the latest news:

"

Sources close to the talks told ESPN.com earlier Friday that the Hornets, Lakers and Rockets were hopeful of reconfiguring the trade to the point that Stern, after absorbing heavy and widespread criticism for intervening, signs off this time.

In the afternoon, Yahoo! Sports reported that New Orleans had re-engaged the Lakers and Rockets to try to make the needed changes to a trade that would have also delivered guard Goran Dragic and a 2012 first-round pick to New Orleans.

"

This is undoubtedly one of the most confusing, dramatic and unprecedented trade scenarios to ever happen in the sports world, let alone the NBA.

One thing is for certain though: if the trade does go down the Lakers will be set with one of the most prolific and, potentially, most dangerous backcourts in NBA history.

This is an extremely fluid situation though, so stay tuned to Bleacher Report for all of your breaking news, opinion and NBA rumors coverage.