In his first game back from injury, Jamison posted 31 points, 10 rebounds, two assists and a steal in the Wizards’ 108-91 drubbing of the Cleveland Cavaliers last night. The line and the win are already impressive, but for Jamison to play this well in his first game back makes it doubly so. It’s tough for a player to return from injury and play at a high level since his conditioning and timing usually aren’t there, but Jamison didn’t have a problem last night.

With the win, the (finally) healthy Wizards advance to 3-7 while the Cavs drop to 8-4. Cleveland was without Shaquille O’Neal and Anderson Varejao due to injury.

…or so says Michael Lee of the Washington Post.

The Wizards, or Ernie Grunfeld in particular, has invested a lot into this group with Gilbert Arenas and Antawn Jamison. I think he really wants to see how far they can go if they are healthy. Jamison is the only Wizard to start in the past four postseasons and he was a one-man show in 2007, back when Gilbert and Caron Butler were out against Cleveland. They signed with the intention of keeping him. The best time to move Jamison was at the trade deadline last February.

NBCWashington.com’s Kyle Weidie expands on that line of thinking…

More important than the investments of Grunfeld are the interests of Abe Pollin. The aging owner is willing to do what it takes to compete for a title, but anyone familiar with Pollin’s modus operandi knows that doesn’t mean trading away an upstanding member of the community like Antawn.

Sure, the “perfect” opportunity could come knocking. But NBA GMs, especially in these economic times, won’t be rapping their knuckles on doors for a soon-to-be 33-year-old with three years and $40+ million left on his contract. Isiah Thomas is no longer running a team, people.

One look at the Wizards’ payroll and it’s easy to see that it’s a mess. Gilbert Arenas’s contract is ridiculous for a guy who has missed 91% of his team’s games over the last two years, and the Wizards still owe him $96 million over the next five seasons. Jamison is almost 33 and has more than $40 million remaining on his contract. The only truly reasonable deal amongst Washington’s “Big Three” is Caron Butler’s contract, but it’s also the shortest at two years and $21 million. Arenas and Jamison are virtually unmovable right now, and the Wizards would be dumb to trade Butler, who is arguably the team’s best all-around player.

Grunfeld wants to see what this group can do, and that’s great because he doesn’t really have any other options. He has hitched his wagon to this trio — or specifically to Arenas and Jamison — and is hoping they can succeed. But even with a healthy Arenas, does anyone really think the Wizards are a legit contender? Brendan Haywood is playing better (when healthy), but the Wizards still need a couple of big men to step into prominent roles. Washington has the fifth pick in the draft, but it is no sure thing that they’ll be able to find someone to help right away (Jordan Hill?), and the team is most definitely in “win now” mode.

My guess is that Arenas comes back reasonably strong and the Wizards finish the season as a #6 or #7 seed in the East, likely to be dismissed in the first round of the playoffs by Boston, Cleveland or Orlando. That’s probably a best-case scenario, and it’s not all that good, especially when the franchise is locked into this roster for the foreseeable future.

The economy is really starting to take its toll on professional sports, and the NBA is no different. Bad contracts are bad even when the economy is pumping, but they really stand out in tough times like these. So I decided to look through the payrolls team-by-team to try to identify the worst contracts in the NBA. I expected to list 15-20 names, but I ended up scribbling down 68. That’s right, there are no fewer than 68 bad contracts in the NBA.

I didn’t include any of the players that are in the final year of their contracts because…well, what’s the point? They’ll be off the books in a few months anyway. Instead, I wanted to focus on those contracts that are going to haunt teams for years to come, so to be eligible, players have to have at least a year left on their current deals.

It’s tough to compare someone making superstar money to an average, everyday role player, so I split these 68 contracts up into three groups: the Overpaid Role Players, the Not-So-Super Stars and the Injury-Prones. I will rank them from least-worst to most-worst with the thinking that I wouldn’t trade the player for anyone further down the list but I would trade him for anyone previously mentioned. So, for example, if a guy is listed #7 within a particular group, I’m not trading him for anyone ranked #6-#1, but I would think seriously about moving him for a guy that is ranked #8+.

So let’s start with the role players and go from there…

(Note: In most cases, I don’t blame the player himself for his outrageous contract. The fault lies with the general manager that inked the guy to the deal. However, this rule goes out the window if the player has a history of only producing in his contract year – I’m looking at you, Tim Thomas.)

You can blame it on the Grizzlies.

Ever since they traded Pau Gasol to the Lakers for a bag of peanuts and some slightly used underwear, NBA teams have become more and more fickle about pulling the proverbial trigger. With the state of the economy, and some owners desperately trying to cut payroll before the cap and luxury tax thresholds decline, it’s a buyer’s market out there. And those buyers are looking for Gasol-type deals. On the flip side, Chris Wallace took all kinds of grief over that trade and general managers around the league don’t want to follow in his footsteps.

After two or three weeks of covering all of this trade chatter, the biggest deal to speak of is the Shawn Marion/Jermaine O’Neal swap and that happened almost a week ago. Sure, guys like Brad Miller, Andres Nocioni, John Salmons, Rafer Alston, Larry Hughes, Tim Thomas, Chris Wilcox and Drew Gooden changed zip codes, but I doubt any fans out there are sporting wood at the idea that one or more of these players is joining their team.

This year’s trade deadline was mostly about teams setting themselves up financially for the next two summers of free agency. Even though there were a number of big names bandied about, the Marion/O’Neal deal is the only semi-blockbuster trade of the season. And, barring some last-minute, late-breaking deal, we have these five teams to blame…

5. San Antonio Spurs
The Spurs were in talks with the Nets about acquiring Vince Carter and also spoke with the Bucks about Richard Jefferson. Either of those players would have been a nice addition, but the Spurs just don’t have the pieces (or the balls) to pull off a trade like that. They were willing to trade for Carter, but they didn’t want to give up Roger Mason or George Hill. So they offer the Nets Bruce Bowen and Fabricio Oberto. Great, the numbers don’t even add up. Don’t get me wrong – I don’t really think that the Spurs should have given up Mason and/or Hill to acquire Carter. They’re arguably the second-best team in the West and their current lineup, if healthy, is likely to give the Lakers fits if the two teams meet in the playoffs with a less-than-100% Andrew Bynum. Plus the Spurs are notoriously conservative when it comes to messing with their chemistry. Jefferson wouldn’t have been a problem in that area but Carter might have been. So the Spurs stand pat. Shocker.

6/16/09 Update: For discussion about the more recent Shaq rumors, click here.

6/25 Update: Shaq has been reportedly traded to Cleveland.

The trade deadline is at 3 PM ET today, and the rumors are flying fast and furious. I’m not going to spend too much time on each one, but here’s a rundown of the rumors…

- Yahoo! Sports says that the Cavs are considering acquiring Shaquille O’Neal at the cost of Ben Wallace and Sasha Pavlovic. I’m not sure what the upside is here for the Suns other than the fact that they’d get about $5 million in cap relief next season when Pavlovic’s salary comes off the books.

- The NBA league office apparently sent out a memo warning of drastic reductions in the salary cap and luxury tax thresholds, which may have a few teams scrambling today.

- There was some talk of a Tracy McGrady-for-Baron Davis deal, but that rumor seems to be dead.

- The Suns are reportedly still trying to pry talent away from the Grizzlies, offering up Amare Stoudemire for Mike Conley, Rudy Gay, Hakim Warrick and a 2009 first round draft pick. Unsurprisingly, the Grizzlies have declined.

- The Bucks are trying to get out from under Richard Jefferson’s contract and they’ve been making some headway with the Blazers and Cavs about Raef LaFrentz and Wally Szczerbiak, respectively.

- The Cavs have been trying to pry Antwan Jamison away from the Wizards, who might be more willing to deal today with the news about the (possible) significant drop in the luxury tax threshold.

- The Vince Carter-to-the-Spurs talk has died down because they don’t want to give up Roger Mason or George Hill in the deal. Apparently, they want the Nets to give Carter away.

Deadline day is like a poker game with 20 people playing. Teams are holding out until the last minute hoping that they can get the best deal. Complicating matters is the state of the economy and the financial strength of the NBA. There could be a flurry of trades today or everyone could stand pat.

The Washington Wizards are involved in some trade rumors as tomorrow’s deadline approaches.

The Wizards, sources said, quickly rebuffed Cleveland’s offer of Wally Szczerbiak’s $13.8 million expiring contract for former All-Star forward Antawn Jamison.

One source with knowledge of the Wizards’ thinking said Tuesday that team president Ernie Grunfeld is determined to continue resisting interest in Jamison and Caron Butler because the club has renewed hope that injured starters Gilbert Arenas and Brendan Haywood will play in a small handful of games before the season ends, affording the Wiz an opportunity to evaluate the full team they hoped to field this season.

Looking at Washington’s payroll, the team is in a really bad way. They owe the injury-prone Arenas a mind-boggling $96 million over the next five years and they owe the 32-year-old Jamison around $40 million over the next three seasons.

I watched Ernie Grunfeld run my beloved Bucks for four seasons and he did a poor job.

Offseason Movement: The Wizards big move this offseason was to re-sign Gilbert Arenas to a huge contract (six years, $111 million). By doing so, they were able to keep their core of Arenas, Caron Butler and Antawn Jamison together. It was a risky signing for the team given all the problems he has had with his balky knee.
Keep Your Eye On: Gilbert’s knee
Simply stated, if the Wizards can keep Arenas, Jamison and Butler healthy, they’re probably a playoff team. If they lose any one of those players for an extended period of time, they’ll struggle to make the postseason.
The Big Question: Was the Arenas signing the best thing for the Wizards?
One school of thought would to let Arenas and Jamison go (via free agency or trade) and build around the much more affordable Butler. But he’s 28, and by the time the Wizards were “rebuilt,� he’d be past his prime. The Wizards pretty much had to sign Arenas and Jamison and hope that another player or two (Andray Blatche, Nick Young, JaVale McGee, etc.) can emerge as a quality starter or role player. The Wizards aren’t going to have any salary cap room for a while, so they may be regretting this summer’s moves in two or three years when they’re still a .500 team and in cap hell.
Outlook: If all goes well, the Wizards will be safely in the playoffs. They’ll eventually lose in the first or second round. If a star gets injured for any length of time, they’ll miss the playoffs. Wash. Rinse. Repeat.