Originally published December 11, 2008.
Updated November 12, 2009.

The phrase “Summer of 2010″ has become part of the NBA lexicon. Teams have been tripping over each other trying to clear cap space for next summer so that they can sign an impact free agent (or two). With that in mind, let’s take a look ahead at the free agent crop of 2010.

Below is a list of the top 10 players that are likely to be free agents next summer. I’m ranking them based mostly on talent, but it’s also important to note each player’s age in July of 2010, as that will affect his value and skill. For example, a 31 year-old Paul Pierce holds much more value than a 33 year-old Paul Pierce. Get the drift?

1. LeBron James, SF (26 years-old)
James is the golden boy of this free agent class and is the player that every franchise would love to land next summer. He will have just turned 26 and whatever team is lucky enough to sign him will – barring injury – enjoy four or five years of the best basketball of his career. The Cavs have gone “all in” this season, signing Shaq, Anthony Parker and Jamario Moon, and re-signing Anderson Varejao. In the process, they gave up whatever cap space they would have enjoyed next summer. If Cleveland’s season ends in disappointment once again, it wouldn’t be surprising if LeBron decides to take his game elsewhere. Three teams — the Knicks, Bulls and Nets — jump out as good fits. LeBron has stated that his top priority is to become a “global icon” and playing in Manhattan would serve that purpose. If the Knicks are able to unload Eddy Curry or Jared Jeffries before the trade deadline, then they’ll have the projected cap space to sign two top players on this list, and that might be enough to convince LeBron to sign on the dotted line. Plus, he’s familiar with Mike D’Antoni (via the duo’s work with Team USA) and the Knicks’ up-tempo system would be a near-perfect fit for LeBron’s skill set. The Nets offer a better supporting cast (led by Devin Harris and Brook Lopez) and the (impending?) move to Brooklyn would boost the franchise’s profile. Chicago has a number of pieces already in place (Derrick Rose, Luol Deng, Joakim Noah and Kirk Hinrich) and is bigger market than Cleveland. But would LeBron want to go to the franchise that Michael Jordan built?
Note: Player option (PO)

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Delonte West misses practice (unexcused) again. All right, one unexcused absence I can understand, but after he was MIA yesterday, wouldn’t the Cavs track him down to find out why he was absent? Of course they would, which is why he is either completely unreachable or the Cavs don’t approve of his reasons for missing practice. This is worrisome, but expect the team to give him a lot of leeway to get his life straightened out.

The New York Daily News thinks there has been another sign that LeBron is headed to the Knicks. His name is William Wesley and apparently he has LeBron’s ear. He was at Knicks camp this week and some conspiracy theorists believe his presence is a sign that LeBron will be playing in New York next season.

The Atlanta Journal-Constitution reports that Joe Johnson will not sign an extension this season. Instead, Johnson is going to become a free agent next summer when a number of teams are going to have the cap space to offer a max deal. After LeBron James, Dwyane Wade, Chris Bosh and (maybe) Amare Stoudemire, Johnson is the next biggest prize in the free agent class of 2010. He’s one of those players that isn’t quite worth a max deal but he’s going to get one anyway. (Think Michael Redd circa 2005.)

Byron Scott told the Times-Picayune that the Hornets’ starting small forward job is Julian Wright’s to lose. This is about a year too late. Wright was quite productive (PER: 15.48) in his rookie season, but the Hornets went with James Posey instead, thinking that he’d be the missing piece to the championship puzzle. Wright is one of those young, talented players that is going to see a big increase in minutes, so fantasy basketball owners should take note.

ESPN’s Chad Ford lists nine teams that will have significant cap space next summer. [Insider subscription required.]

1. Nets ($25-$27 million)
2. Knicks ($24 million, assuming they don’t sign anyone for longer than a year)
3. Heat ($20-$22 million)
4. Timberwolves ($16-$18 million)
5. Bulls ($13-$15 million minus whatever they give Tyrus Thomas)
6. Thunder ($14-$15 million)
7. Rockets ($12-$14 million minus whatever they give to Carl Landry and Chuck Hayes)
8. Clippers ($10-$11 million)
9. Kings ($9-$10 million)

This assumes a cap of $53.6 million, which is an optimistic view. The cap could drop below $50 million.

It takes about $14 million of space to sign a max-contract player, so even under these optimistic circumstances, there really are only five teams — the Nets, Knicks, Heat, T-Wolves and Thunder — that will have that kind of space. (The Bulls are likely to keep Thomas and the Rockets are likely to retain Landry and Hayes, though they could make another move here or there to put them in position to add a superstar.)

Of these five teams, the Heat look to be in the best overall shape. Their projected payroll already includes Dwyane Wade, so they have enough to woo another superstar (LeBron, Bosh, Amare, Boozer?) to Miami. They also have a few good young players (Michael Beasley, Daequan Cook and Mario Chalmers) under contract, and the city boasts a great climate and nightlife. But the real draw is playing with Wade, who has already proven that he can win a championship if he has a little help.

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Now that the dust has pretty much settled in the 2009 NBA offseason, ESPN’s Chad Ford previews the free agents that are likely to be available next summer. [Insider subscription required.]

No subscription? Check out our preview from last December. I plan to update it once this year’s restricted free agents are settled, as there are still a few looking for long-term deals.

Right now, it’s looking like the 2010 unrestricted free agent class could include the likes of LeBron James, Dwyane Wade, Chris Bosh, Amare Stoudemire, Joe Johnson, Carlos Boozer, Dirk Nowitzki, Yao Ming, Paul Pierce, David Lee, Manu Ginobili, Shaquille O’Neal, Ray Allen, Tracy McGrady, Tyson Chandler, Michael Redd, Richard Jefferson, Ramon Sessions, Ray Felton, Nate Robinson, Travis Outlaw, John Salmons and Al Harrington.

I expect at least a few of those names will strike long-term deals before next summer, but still, that’s quite the list, and it doesn’t even include the potential restricted free agents from the draft class of 2006 (i.e. Brandon Roy, LaMarcus Aldridge, Rajon Rondo, Rudy Gay, etc.)