The NBA offseason is by no means over, but the lion’s share is behind us, so it’s a good time to take a look back at a few of the…um…let’s say “questionable” decisions of the summer. Here are my Top 10, in no particular order. Feel free to add to the list if I missed something.

1. Trevor Ariza plays spiteful hardball…and loses.
Let’s get this straight — the Lakers offered Ariza the same deal he was getting on the open market, and he refused since the Lakers could have offered more, but didn’t? Um, okay. David Lee (the agent, not the Knicks forward) says that Ariza wanted to go somewhere where he’d be “appreciated.” Lee overestimated the market for his client, and the Lakers quickly moved on to acquire Ron Artest. Now instead of playing for the world champs, Ariza is stuck in Houston on a team that faces a very uncertain future. Lee now says that Ariza turned down a deal worth $9 million more, but still picked Houston. It sounds to me like he’s just trying to save face.

2. Grizzlies acquire Zach Randolph.
Once the Clippers traded for Randolph (and his toxic contract) last season, I thought the bar for NBA general managers had hit a new low thanks to Mike Dunleavy and his wily ways. But Dunleavy proved that he wasn’t the dumbest GM in the league when he convinced the Memphis Grizzlies to take on the final two years Randolph’s contract at the tune of $33.3 million. Remember that $25 million or so of cap space that the Grizzlies were going to have next summer? Yeah, that’s down to about $8 million with this brilliant move. Just when it looked like Chris Wallace was going to rehab his image after the Pau Gasol trade — Marc Gasol panning out, trading for O.J. Mayo — he goes and does this. Sigh.

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The Detroit Pistons have a ton of cap space heading into 2009 NBA free agency, and they apparently aren’t afraid to use it, agreeing in principle to contracts with Ben Gordon and Charlie Villanueva.

Former Bulls guard Gordon will receive a five-year deal for between $55 million and $60 million, while former Bucks forward Villanueva gets a five-year deal for $40 million, sources told ESPN.com’s Chris Broussard.

Gordon rejected deals from Chicago in excess of $50 million each of the past two seasons. Milwaukee elected to let the 24-year-old Villanueva become an unrestricted free agent earlier this week, after the Bucks determined that matching any restricted free-agent offers would move the team closer to the luxury tax threshold and limit changing the roster.

It’s not surprising that the Pistons signed both of these players, but the value of the contracts seem a little high when taking the current economic climate into consideration. It seems like GM Joe Dumars is operating in a 2006 or 2007 mindset when the reality is that the demand for these players probably didn’t justify $11 million per season for Gordon and $8 millon per season for Villanueva.

There are only eight teams with significant cap space this summer — the Grizzlies, Pistons, Hawks, Thunder, Kings, Raptors, Blazers and Timberwolves — and Memphis, OKC and Minnesota weren’t expected to be big players this offseason. The Bulls were trying to re-sign Gordon, and they probably were in the same neighborhood of the two deals they offered over the last two years that averaged $10 million and $9 million per season, so Detroit may have felt they had to outbid Chicago to pry him away. But I just don’t think he’s worth it, given his defensive liabilities and his lack of size for an off guard.

As for Villanueva, he was intrigued with the possibility of playing with LeBron James and Shaquille O’Neal in Cleveland, but they could only offer him a mid-level deal, which would probably start at around $5.5 million per season. Even though his new contract’s $8 million per season average is the first thing to jump out, we need to focus on the first season. The contract could very well start at $6 million and go up $1 million per season for five years, which would add up to $40 million. They needed to outbid the mid-level deal to convince Villanueva to join a non-contender. Still, that’s a big commitment for a player who has a reputation for being a poor defender and has had his work ethic questioned at time. But at 24, Villanueva is still learning and is already a proven scorer.

This Gordon signing may indicate that Rip Hamilton will be moved before next February’s trade deadline. Though he’s getting older, he’s still a highly efficient scorer and he’d definitely be able to help a contender. I doubt that it’s Dumars’ plan to have $22 million locked up per season at one position. If Hamilton is moved, then the Pistons would be building around a lineup of Rodney Stuckey, Gordon, Tayshaun Prince and Villanueva.

Pistons, Blazers interested in Hedo Turkoglu.

The Oregonian reports Blazers general manager Kevin Pritchard and assistant general manager Tom Penn called agent Lon Babby last night to begin the courtship of Hedo Turkoglu.

With Carlos Boozer out of the picture, an NBA source tells the Chicago Sun-Times that Turkoglu is now the Pistons’ first choice in free agency.

While the Blazers’ interest has long been rumored, Detroit’s interest is a little surprising. They already have a very good small forward on the roster in Tayshaun Prince, so unless they’re planning to play Turkoglu at the four, someone is going to lose some minutes. Of the two teams, the Pistons have more cap space, so if they want him, they can get him. (And what about Ben Gordon?)

Charlie V ahead of Turkoglu on the Pistons’ wishlist?

Chicago’s Ben Gordon remains the backcourt player deeply coveted by the Pistons, but the prospect of a Gordon-and-Villanueva combo likely would be slightly cheaper than trying to sign Gordon and Turkoglu with Detroit’s nearly $19 million in projected salary-cap space.

The Pistons may also be interested in Paul Millsap, but anytime a team signs a restricted free agent to an offer sheet, that money is tied up for a week while his current team decides to match. That makes signing an RFA a dicey prospect.

I wonder if the Bucks are regretting letting Villanueva given the amount of interest he’s generating from their division rivals (Detroit and Cleveland).

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Pistons not willing to pony up for Boozer?

The Pistons would love to sign Carlos Boozer should he decide today to opt out of the final year of his contract with the Jazz and become a free agent.

However, if Boozer opts out, he would leave $12.6 million on the table in Utah. Thus, there is a good chance Boozer, as has been widely speculated, would look to start his next contract at $14 million or $15 million.

If that is the case, the Pistons most likely would walk away.

Just because a guy asks for a contract starting at $14-$15 million doesn’t mean that the Pistons have to give it to him. If Boozer opts out, the Pistons are his most likely landing spot, so they set the market, not him. If he wants an unreasonable deal, they shouldn’t walk away, they should make an offer and give him some time to find a better one. Chances are that he won’t, and he’ll end up taking Detroit’s deal.

Assuming Boozer does not dramatically reduce his asking price, the Pistons would go after Bucks forward Charlie Villanueva.

Villanueva will turn 25 in August and is coming off his best season. He averaged 16.2 points and 6.7 rebounds for the Bucks.

The Pistons could conceivably sign Gordon and Villanueva and still have money left over to pursue re-signing Antonio McDyess.

I estimate Gordon’s value to be about $9 million, though he has turned down bigger offers from the Bulls in the past. Villanueva will probably get lots of MLE offers, so the Pistons would likely have to trump those to convince him to play in Detroit instead of Cleveland (or for another contender). So if Detroit signs both, expect them to pay at least $15.5-$16.0 million combined. That doesn’t leave a lot of space for McDyess.

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Unless the guy is a major disappointment, a team will usually extend the qualifying offer required to make a player a restricted free agent. In the last year of their rookie contract, players are generally still affordable, so average to decent players usually end up as RFAs for a year before hitting unrestricted free agency the following summer.

I told you all of that to tell you this — the Bucks elected not to make the qualifying offer of $4.6 million to perimeter-oriented power forward Charlie Villanueva, who averaged 16.2 points and 6.7 rebounds last season. In 47 games as a starter, he averaged 17.7 points and 7.3 rebounds. He can now sign with any team he likes and the Bucks will receive no compensation. I expect that he’ll garner at least a mid-level deal on the open market. His defense is definitely suspect, but he’s young (24) and can really put the ball in the hole.

I sure hope that general manager John Hammond explored all of his options before making this decision. It seems like Villanueva holds enough value to pry a first round pick or a prospect away from a contender (how about a J.J. Hickson-for-Villanueva swap with Cleveland?), but this decision, coupled with the Richard Jefferson giveaway last week indicate that the Bucks are in serious cost cutting mode.

The good news is that, with the move, Milwaukee should be better able to match offers for Ramon Sessions, who is a TSR fave.

Yesterday, I ranked the top unrestricted free agents of 2009, but now it’s time to look at this summer’s crop of restricted free agents (RFA). Teams can sign an RFA to an offer sheet, then his team has seven days to match that offer to retain him. If the player doesn’t sign an offer sheet and can’t come to terms on a new contract with his current team, then he will play for a year for the qualifying offer and then become an unrestricted free agent the following summer.

For each player, I’ll provide his position, age, Player Efficiency Rating (PER) and an estimate of what kind of contract he’s likely to sign. They’re ranked in order of total value, which is based on overall talent, age, injury history and cost.

1. Paul Millsap, PF (24)
PER: 18.71
In his third year, this former second round pick had the best season of his career. He averaged 13.5 points and 8.6 rebounds, while shooting better than 53% from the field. While Carlos Boozer was out in December and January, the Jazz got a preview of what this kid can do when he gets starter’s minutes. He was a 17/11 guy during those two months, but the Jazz only went 11-13 in games in which Millsap played during that span. His camp expects a deal similar to the one David Lee is asking for, so something in the $10 million per season range. Is he worth it? Probably. And from the sound of it, the Jazz plan on offering him a deal that will keep him from testing the market. If he does explore his options, it may pay off as the Thunder and Pistons are rumored to have interest.
Value: $9.5 – $10.5 million per year

2. David Lee, PF (26)
PER: 19.07
GM Donnie Walsh said that the Knicks’ picking Jordan Hill in this year’s draft has nothing to do with Lee, but the two play the same position, so of course it’s going to have an effect on how the Knicks and Lee each view their relationship. The other issue is that two of the Knicks’ targets in 2010 are Chris Bosh and Amare Stoudemire might also play the same position as Lee, though Mike D’Antoni would likely play either at center, allowing Lee to play power forward. He gets most of his points off the glass, so he’d be a good fit with either of those guys. The Knicks are projected to have about $35 million in cap space heading into the summer of 2010 and whatever deal they sign Lee to will cut into that. If they want to keep Lee and sign two big-name free agents, then they’re going to have to rid themselves of either Jared Jeffries or Eddy Curry prior to 2010. I like Lee, but he’s not a guy that you can give the ball to on the block and expect him to score, and that limits his value somewhat as a big man. The Thunder, Kings, Grizzlies, Raptors and Pistons could all make a serious run at Lee, though anytime a team tries to poach a restricted free agent, it’s a delicate balance between offering him enough to convince the other team to let him go, while getting a reasonable deal at the same time.
Value: $9.0 – $10.0 million per year.

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Rajon Rondo is available. Wait, no he’s not.

While there has been talk around the NBA from several scouts that the Celtics have been shopping guard Rajon Rondo, he isn’t expected to be dealt. While unlikely, one Eastern Conference executive said the latest trade rumor included Rondo and forward Brian Scalabrine going to Memphis for guard Mike Conley and swingman Rudy Gay. On the flip side, one NBA GM said that he asked Celtics president Danny Ainge about Rondo and Ainge said he didn’t want to trade him.

Chad Ford had this to say…

I’m more persuaded by what several league sources told me about Doc Rivers’ relationship with Rondo. They say Rivers has told them Rondo is “impossible to coach” and “stubborn.” The worry is that if the Celtics give him a big contract extension next year, he’ll be even more unmanageable in the future. So the Celtics are trying to trade him now, while his trade value is high, to avoid a very difficult decision a year from now.

While it’s true that his stock has never been higher, the proof is in the pudding. If the Celtics can keep their core — Garnett, Pierce, Ray Ray and Rondo — healthy for the playoffs, they have a great shot at winning another title. Why break that up?

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Chad Ford is reporting that the Bucks and Spurs have agreed to a swap that would include star swingman Richard Jefferson.

The Milwaukee Bucks agreed to trade Richard Jefferson to the San Antonio Spurs for Bruce Bowen, Kurt Thomas and Fabricio Oberto a Bucks source told ESPN.com.

The two teams have agreed to the deal in principle. A trade call to make the deal official is coming later Tuesday.

The move gives the Spurs a dynamic wing scorer to play alongside Tim Duncan, Tony Parker and Manu Ginobili. The Spurs had promised to make their team better this summer and adding Jefferson for role players should give them a huge shot in the arm.

The Bucks incentive to make the trade is largely financial. Bowen, Oberto and Thomas are all in the last year of their contracts. The deal will clear $15 million off the books for the Bucks next season and give Milwaukee more flexibility for next year. It also saves them roughly $3 million this year. That may give the Bucks the wiggle room to sign one of their restricted free agents — either Charlie Villanueva or Ramon Sessions — next year.

Largely financial? How about purely financial, Chad?

For the Bucks, this is a straight salary dump. Jefferson has two years and $29 million remaining on his deal, and the Bucks are dangerously close to the luxury tax threshold. They have two pretty good free agents in Villanueva and Sessions that need to be addressed. It looks like they’ll have an extra $3 million this season to sign one or both to long-term deals.

The funny thing is that I just saw an interview with Bucks GM John Hammond where he said that the franchise wasn’t in a position where they had to dump salary just to dump salary. Yeah, right. Talent-wise, the Bucks just lost a big piece in this trade, but if they’re able to retain Sessions and Villanueva, they might be able to recover some of that talent. The move may be a sign that the team is ready to give Villanueva starter’s minutes at one of the forward spots while playing defensive specialist Luc Richard Mbah a Moute at the other forward position.

For the Spurs, if this trade does indeed go down, it will go a long way to getting the franchise back into serious contention in the West. Jefferson is an energetic defender who can hit the three and score on the break. He is just a good all-around player. The Spurs know that their championship window is closing, and if the do acquire Jefferson, they will prove they are willing to pony up to put a championship-caliber supporting cast around Tim Duncan.

- Charlie Villanueva is open to joining the Cavs, and given the current state of the economy, it’s not out of the realm of possibility that the best he’ll be able to do is a deal at the mid-level (~$5.8 million). The Bucks first have to decide whether or not to make the qualifying offer (~$4.6 million) and they may elect not to in order to avoid going over the luxury tax threshold (~$71 million, and could drop). Without Villanueva (and Ramon Sessions, who is also slated to become a restricted free agent), the Bucks’ payroll is at about $61 million with only eight players under contract. Villanueva would give the Cavs a good matchup for Rashard Lewis. Both players are slender power forwards who can shoot the ball, though Charlie V isn’t known for his defense.

- UFA Andre Miller doesn’t have a problem with the Sixers’ hire of head coach Eddie Jordan. The Sixers are over the cap but well under the luxury tax, so I’d expect them to sign the 33 year-old to a one- or two-year deal in the $6-7 million range. He is unlikely to get that on the open market, but Portland is a team with cap space that could use his leadership.

- Toronto GM Bryan Colangelo plans to keep Chris Bosh and try to surround him with better players, unless the talented power forward expresses serious doubts about re-signing. By sending Jermaine O’Neal to the Heat for Shawn Marion (and his expiring contract), the Raptors have about $10 million in cap space heading into the summer. While that may not be enough to land someone like Carlos Boozer, it is enough, coupled with the team’s mid-level exception, to add two or three pretty good players to the roster. How about Ben Gordon and Charlie Villanueva/Chris Andersen? I’d expect the Bosh rumors to heat up next season if Toronto struggles again early on.

- Hoopsworld says that there’s a rumor making the rounds that the Thunder might take DeMar DeRozan #3. This sounds a little fishy to me because everything I’m seeing shows DeRozan slipping a little after poor agility and sprint tests at the combine. James Harden has the better standing vertical and is just 1.5″ off of DeRozan’s max vertical. Harden also beat DeRozan soundly in the agility and sprint tests and is the much more polished offensive player at this point. DeRozan is 1.5″ taller, but Harden has a higher reach because he has a longer wingspan.

- With Jonny Flynn and Jrue Holiday climbing the draft charts, Ricky Rubio is suddenly open to interviews and workouts with teams picking #2 to #4, which includes Memphis, Oklahoma City and Sacramento. Rubio apparently didn’t play very well in his season finale, and his camp may be worried about him slipping out of the top four if those teams in question find a guy they like better.

The NBA free agency period starts July 1st, and as that date approaches I’ll preview this year’s free agent class in more detail. But for now, I’d like to take a look at which teams have the cap flexibility to be major players in free agency this summer. (Mind you, just because a team has cap space, it doesn’t necessarily mean that they’ll use it. Just sayin’.)

Not familiar with the NBA salary cap? Here’s a quick primer…

1. The cap for the 2008-09 season was $58.7 million. The general consensus is that the cap will stay flat or decrease slightly. We’ll assume it sticks at $58.7 million.

2. If a team is over the cap, the only free agents they can sign are their own, unless they elect to sign a player to the mid-level exception (~$5.8 million per season), the bi-annual exception (~$2.0) or to a minimum contract. (The bi-annual exception may not be used in two consecutive years.)

3. If a team is under the cap, they can sign any free agent they want as long as they do not exceed the cap. They can also take on salary via trade up to the cap, so a team like the Grizzlies (with almost $20 million in cap space) could conceivably trade their first round pick to the Suns for Amare Stoudemire or to the Raptors for Chris Bosh.

Here’s a list of the bigger names in the free agent pool this summer:

Unrestricted: Carlos Boozer, Ben Gordon, Ron Artest, Lamar Odom, Andre Miller, Shawn Marion, Jason Kidd, Hedo Turkoglu, Allen Iverson, Mehmet Okur, Rasheed Wallace, Mike Bibby, Anderson Varejao, Grant Hill, Kyle Korver, Trevor Ariza, Brandon Bass, Chris Andersen, Zaza Pachulia, Chris Wilcox and Drew Gooden

Restricted: David Lee, Paul Millsap, Ray Felton, Josh Childress*, Marvin Williams, Glen Davis, Ramon Sessions, Charlie Villanueva, Nate Robinson, Leon Powe, Hakim Warrick, Linas Kleiza, Jarrett Jack and Shannon Brown

* It appears that if Childress does return to the NBA, the Hawks still hold his rights, so he would be a restricted free agent.

There are eight teams that project to have more than $5.8 million (the value of the mid-level exception) in cap space this summer:

Memphis Grizzlies
Projected Cap Space: $19.7 million
Memphis has been reluctant to spend for several years now and is probably one of the franchises that’s struggling the most in the current economy. I lived in Memphis for three years, and given its small size and overall lack of wealth, I always thought that it would struggle to support a professional sports team. With a core of Rudy Gay, O.J. Mayo and Marc Gasol, the Grizzlies have to feel pretty good about what they have at off guard, small forward and center. The big decision this summer is what to do with restricted free agent Hakim Warrick. When dealing with bad teams, numbers can be deceptive, because no matter what, somebody has to score and rebound, right? Warrick’s PER (16.91) is #24 amongst power forwards, so ideally he’d be coming off the bench for a playoff team. The Grizzlies projected cap space assumes they make the qualifying offer to Warrick ($3.0 million). Memphis is one of those teams that could really use the services of a Carlos Boozer, David Lee or Paul Millsap, but in this economy, are the Grizzlies willing to make that kind of a commitment? They could try to make a run at Chris Bosh or Amare Stoudemire next summer, but the odds are long that either guy would want to play for the Grizzlies.

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