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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- SLAM says that Rasheed Wallace will retire if he doesn’t get at least $8 million to play next season. By my count, there are seven teams — Memphis, Atlanta, Oklahoma City, Sacramento, Toronto, Portland and Minnesota — other than the Pistons that could give him that kind of money. Who would be interested in ‘Sheed? I’m guessing only teams that are on the verge of competing for a title and have a need for a big man with championship experience. The only “contenders” on that list are Atlanta and Portland, and neither seems to be a good fit. Portland already has a slender sharp-shooting big man in LaMarcus Aldridge, and the Hawks will likely spend their cap space on re-signing Mike Bibby (though that isn’t necessarily the right thing to do). So if Portland and Atlanta pass on Wallace, someone will offer him a mid-level deal (~$5.8 M) and he’ll have to decide if it’s worth it. Any team in the league can sign him for that, so if he lowers his price, demand will rise.

- Dwyane Wade reiterated that he will consider signing an extension once he’s eligible to on July 1st, but that he hasn’t given the idea much thought. The Heat would have a ton of cap space this summer had they held onto Shawn Marion and his expiring contract, but they instead traded for Jermaine O’Neal whom they thought would help their chances in the playoffs over the next two seasons. In the end, I doubt D-Wade will leave Miami. He’s a star there, the weather is great, and with Michael Beasley and a yet to be named big man (Chris Bosh, Amare Stoudemire) to be signed in the summer of 2010, the Heat have a good foundation for success. To me, the big question is whether or not Beasley can play small forward. If so, then the team should try to put together a starting lineup of Mario Chalmers, Wade, Beasley, Udonis Haslem and either Bosh or Amare.

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On the heels of what many are labeling the greatest first round NBA series of all-time, there’s already been a lot of talk about how good the recently exited Chicago Bulls can be next year. And with good reason: Derrick Rose is already on his way to becoming one of the game’s best point guards, Ben Gordon (despite the fact that he plays worse defense than the 2008 Detroit Lions) is a lights-out scorer, and Joakim Noah can do it all from a defensive and rebounding perspective.

But perhaps the most intriguing player in this year’s Celtics-Bulls classis series was Tyrus Thomas. His play was a bit of a revelation in the series, as he consistently knocked down the 18-foot jump shot NBA 4s need to make, and his athleticism continues to be off the charts. He’s got the potential to be an all-star.

There is a saying in the NFL that it takes three years to truly evaluate a draft class, and to a lesser extent this is true in the NBA as well. Since Thomas and Boston’s stud PG Rajon Rondo are both from the 2006 NBA Draft class, how about we take a look at who the top 10 picks were, and who the revised top 5 should be?

2006 Draft (the actual top 10)

1. Andrea Bargnani, Toronto Raptors

2. LaMarcus Aldridge, Portland Trail Blazers

3. Adam Morrison, Charlotte Bobcats

4. Tyrus Thomas, Chicago Bulls

5. Shelden Williams, Atlanta Hawks

6. Brandon Roy, Portland Trail Blazers

7. Randy Foye, Minnesota Timberwolves

8. Rudy Gay, Memphis Grizzlies

9. Patrick O’Bryant, Golden State Warriors

10. Saer Sene, Seattle SuperSonics

2006 Draft (the should-have-been top 5)

1. Brandon Roy

2. Rajon Rondo

3. LaMarcus Aldridge

4. Rudy Gay

5. Tyrus Thomas

The ’06 class has hardly set the world on fire in its first three years, with its only redeeming value being that they’ve featured second-round gems like Utah’s Paul Millsap, Cleveland’s Daniel Gibson and Boston’s Leon Powe. But in terms of potential star power, don’t stick a fork in 2006 yet – all 5 of my revised top picks could end up as all-stars.

If the teams could do it over, who do you think they’d take?

With the trade deadline in the rear view mirror and players tied to their current teams at least until the summer, it’s a good time to take a look ahead at the free agent class of 2009. Given the state of the economy and how so many teams are saving up for the class of 2010, some are suggesting that this summer’s free agency could be a “nuclear winter” of sorts, no pun intended. The salary cap and luxury tax thresholds are likely to decline for the first time in years and that has GMs and owners around the league scrambling to cut salary where they can.

There are three types of free agents: players with early termination options (ETO) or player options (PO), restricted free agents and unrestricted free agents.

Players with ETOs or POs

This group includes Kobe Bryant, Jermaine O’Neal, Al Harrington, Jamal Crawford and Mehmet Okur, but it’s highly unlikely that any of these guys will hit the open market given the kind of money they’ll be making by extending their respective contracts. Of this group, Hedo Turkoglu, Anderson Varejao and maybe Carlos Boozer are the only big names that are likely to hit free agency. Boozer has already stated that he’s going to opt out, but he may decide against it if he doesn’t come back strong from his injuries. Turkoglu — the reigning Most Improved Player — is having another nice season, but he’s not playing quite as well as last year. Still, he can command more than the $7.3 million he’s due to make next season. Varejao could stay with the Cavs and make $6.2 million next season, but he and his agent (Dan Fegan) have been looking for more. Varejao wants a long term deal but it seems he and the Cavs disagree on how much he’s actually worth.

For the most part, guys in this group are going to be conservative and play out their contracts.

The NBA All-Star Game is part meritocracy and part popularity contest. First, the fans vote, and the top five vote getters – two guards, two forwards and a center – from each conference are the starters. Then the coaches vote on the remaining seven reserves for each team.

The current vote count can be seen here, but I thought I’d put together my own list – five starters and seven reserves – for each team. To me, when it comes to naming All-Stars a winning record is just as important as great stats, so given two players with similar numbers, I’m probably going to give the nod to the guy on the better team. I’ll list the player’s Player Efficiency Rating, which gives a nice overview of the guy’s per-minute statistical production this season.

And off we go…

EASTERN CONFERENCE STARTERS

Dwyane Wade, Heat
PER: 29.14
D-Wade is back with a vengeance. He’s averaging 29.0 points, 7.1 assists and 5.1 rebounds, and is (almost) single-handedly keeping the Heat in the playoff hunt. With 24% accuracy, I don’t know why he’s shooting so many threes (3.0 per game), but that’s just nitpicking. He’s third in the league in steals (2.25).

Joe Johnson, Hawks
PER: 19.84
JJ is averaging 22.3 points, 6.1 assists and 4.6 rebounds, and has the Hawks in a battle for the #4 spot in the East. His three-point shooting is down two points, but his overall FG% is up a point. Remember when everyone laughed at the Hawks for giving up future MIP Boris Diaw and two first round picks for him?

LeBron James, Cavs
PER: 32.04
LeBron is the front-runner for the MVP thus far. He’s posting 27.7 points, 6.6 assists and 6.6 rebounds a game. His numbers are down, but that’s because the Cavs can afford to rest him an additional four minutes per game. It’s great to see his FG% over 50% (50.8%) and FT% approaching 80% (78.8%). LeBron has always been a statistical stud, but it’s the Cavs’ stellar record that has him leading the MVP race.

Odd news coming out of Salt Lake City.

Utah Jazz forward Carlos Boozer will undergo arthroscopic surgery on his left knee.

Boozer has missed 21 straight games because of a strained quad tendon he sustained during a Nov. 17 game against Milwaukee.

The Jazz said in a statement Tuesday that a date for the surgery has not been set, but doctors said it likely wouldn’t occur until Jan. 9.

Why is this odd? Well, Boozer has already missed 21 games and the problem didn’t have anything to do with his knee (or so we were told). It usually takes a player 4-6 weeks to recover from a scope, so you’d think that they would have done this operation at the start of Boozer’s absence. Also, the fact that they are waiting until Jan 9. to do the surgery tells me that they weren’t expecting him back anytime soon anyway. Tack on another four weeks and it looks like the earliest he could make his return would be early February.

Utah is 19-14 and currently in the #9 slot in the West. This is not good news for the Jazz, especially with the news that Paul Millsap will miss at least another week with his own knee injury.

Here’s a quick list of the top 10 power forwards under the age of 26, ranked in the order of a combination of current performance and trade value (regardless of salary).

I’ll also list the player’s age and his Player Efficiency Rating. Keep in mind that I am ranking the player based on their listed position at ESPN. Maybe I’ll move some of these guys around the next time I publish these lists.

1. Chris Bosh, Raptors
Age: 24
PER: 22.67
Bosh has averaged at least 22 points and nine rebounds in each of the last four seasons. He shoots 50% from the field and 83% from the line, but I’d like to see more blocks (0.8) from a guy his size. Will he rendezvous with LeBron at MSG in 2010? They would make a devastating duo.

2. Josh Smith, Hawks
Age: 23
PER: 16.23
Smith is having kind of an off year so far as he works himself back from an ankle injury. It’s a tough call between Smith and the next guy on this list, but I have to go with J-Smoov due to his versatility.

3. LaMarcus Aldridge, Blazers
Age: 23
PER: 17.96
He’s not very strong down low, but for a big guy he can really shoot the ball. He loves the face up jumper, and looks to be a 17/7 guy for the foreseeable future.

4. Paul Millsap, Jazz
Age: 23
PER: 19.96
Millsap is averaging 18 points and 11 boards (shooting 57% from the field) filling in for the injured Carlos Boozer, which makes some wonder if the Jazz should bother to re-sign Boozer when he opts out after the season.

5. Michael Beasley, Heat
Age: 19
PER: 14.95
I see Beasley as more of a small forward, but he’s listed as a PF. He is averaging 14 points and five boards in 27 minutes. I’d like to see better assist (1.0) numbers, but that should come with time.

6. Marvin Williams, Hawks
Age: 22
PER: 15.74
Williams is another guy that can play either forward position. He has really improved his long-range accuracy this season (+29%), but is still scoring at about the same rate. With the departure of Josh Childress, I thought Williams was going to take a big step forward this season, but his numbers are pretty much the same across the board.

7. Charlie Villanueva, Bucks
Age: 24
PER: 17.49
Can Charlie V play for Scott Skiles? So far, the answer seems to be yes, even though Skiles prefers Luc Richard Mbah a Moute’s defense and rebounding. Villanueva is still a below average defensive player, but Villanueva can really light it up. He’s going to be a restricted free agent this summer, so it will be interesting to see what the Bucks do with him over the next 9 months.

8. Carl Landry, Rockets
Age: 25
PER: 19.19
For his minutes (21.3), Landry is one of the most productive big men in the game. He’s a great interior defender and his FG% is stellar (58%).

9. Brandon Bass, Mavericks
Age: 23
PER: 13.00
His biggest problem is that he plays the same position as Dirk Nowitzki. He’s strong as hell and has a nice face up game. It will be interesting to see how he flourishes once he’s somewhere where he’ll get 30+ minutes a game.

10. Kevin Love, Timberwolves
Age: 20
PER: 15.17
Granted, his 40% shooting is brutal, especially for a power forward, but Love is posting better than eight points and eight boards in just 24 minutes a game. With his passing ability, I thought that his assist numbers (1.2) would be better. Right now, it’s definitely looking like Memphis got the better of the Mayo-Love trade, but he should develop into a solid starting power forward.

So who am I missing? Before you jump all over me for leaving someone off the list, be sure to check the player’s age – all these guys are 25 or younger.

Other lists:

Top 10 Young Point Guards
Top 10 Young Shooting Guards
Top 10 Young Small Forwards

Carlos Boozer raised a few eyebrows recently when he told ESPN’s Chris Sheridan that he did intend to opt out after this season. He confirmed this to The Salt Lake Tribune via a conference call.

Since I wasn’t there for the conversation between Carlos Boozer and ESPN.com’s Chris Sheridan on Wednesday night, I can’t say what was and wasn’t said. What I can report is that there are some in the Jazz organization who believe Boozer was, to borrow the description of one, “sideswiped” by the whole report.

That’s not excusing anything Boozer said. But Boozer thought he was chatting with Sheridan, who covered the U.S. Olympic team in Beijing, and might have been talking through the various scenarios associated with opting out more than making any definitive statements about his future.

As the Jazz note, Boozer gains nothing by announcing he’s opting out right now. Maybe it would have made sense to do so before the season. But right now, all Boozer’s achieving is calling attention to himself when he’s not playing and undergoing second MRI exams. In other words, he’s hurting his value.

The Jazz also continue to believe the Boozer-to-Miami rumors are more media driven than grounded in fact. There are questions, first of all, about whether the Heat will even have $10 million of cap space to sign a free agent this summer. The Heat also have forwards Udonis Haslem and Michael Beasley, both similar to Boozer.

Boozer took part in a conference call this afternoon with the Deseret News’ Tim Buckley and me. Here’s the transcript of what he had to say:

“First of all, I just want to say when I was talking to Chris yesterday, obviously I was thinking it was more of a casual conversation, but he was asking about the future, for myself and also for Paul and for our team. Obviously, the thing that came out in the papers, or the Internet, whatever, what I was trying to say to him was obviously in my business, like in most people’s businesses, you get a chance every now and then to sign a long-term contract and have stability.

“So the smart thing for me as an individual obviously would be to opt out and have a chance to have stability. Obviously, I wanted to stay here with the team. I wasn’t trying to say I was going to leave or anything like that. Obviously, I’ll look at my options, but the smart thing for me is to opt out and instead of having a one-year deal, the possibility of having a six-year deal. That makes sense for my business. That’s what I was trying to tell him yesterday. I didn’t know it was going to turn into this big rainfall type of thing.”

I don’t know why Jazz owner Larry Miller is upset.

Jazz owner Larry Miller slammed Boozer in his weekly radio appearance on KFAN 1320, saying, “It’s one of the top 10 stupidest things I’ve heard an NBA player do in 20 years.”

Miller said Boozer’s timing detracted from the Jazz’s victory over New Jersey and came not only as he has missed 15 games with a strained left quadriceps tendon but after he missed 80 games early on after coming to the Jazz.

Those memories are hard to shake, with Miller saying, “a lot of people are still suspicious about that, a lot of fans and stuff, and we’ve covered for him and protected him, justifiably.”

Of course he’s going to opt out. He’s due to make $12.7 million next season which is well below the market value of a player with his skill set. Assuming he’s healthy — and he has battled injuries in the past — he’s going to be able to sign a max or near-max contract next summer. Why would anyone play out the final year of a deal when they could sign a five- or six-year guaranteed contract and start at a higher salary?

The timing is odd, considering that Boozer has missed the last 15 games with a quad injury. It doesn’t sound like he planned to share this information with the world, but I don’t know why anyone is really surprised.

Paul Millsap has averaged 17.8 points and 11.1 rebounds in 13 games as a starter filling in for Boozer. He too is a free agent after the season, so it will be interesting to see how the Jazz handle these two players as they bring similar things to the table. In my latest column, I suggested that Utah trade Boozer to Dallas for Dirk Nowitzki. To me, it’s likely that he’s going to leave and sign with Miami, but he continues to state that he intends to stay in Salt Lake City.

Offseason Movement: The Jazz exercised a couple of no-brainer contract options on Ronnie Brewer and Paul Millsap, and signed Deron Williams to a long-term deal. The other main acquisition was center Kosta Koufos via the draft.
Keep Your Eye On: Carlos Boozer
Boozer has another year on his deal, but it’s a player option, and considering he can make more on the open market, he’ll probably opt out. That doesn’t mean that he’s leaving Utah, but given Boozer’s history, the team is justifiably worried. Utah has a lot of money tied up in Andrei Kirilenko (three years, $49 million) and it would be much better spent on a new deal for Boozer. Complicating matters is Mehmet Okur, who can also opt out next summer. The good news is that the Jazz locked up Deron Williams, so that should encourage both Boozer and Okur to stay.
The Big Question: Is this group good enough to get over the hump?
Utah has a nice roster, but it’s unclear if the current core – Williams, Boozer, Okur, AK-47 – is good enough to get past the West’s elite. Can Williams and Boozer raise their respective games? Will another player (Brewer, Koufos) turn into a star?
Outlook: The Jazz are right on the cusp and they’ll always play hard for Jerry Sloan, so they’ll be in the thick of things come playoff time. That means that they’re likely to advance to the Western Conference Semis or Western Conference Finals and meet a roadblock like the Lakers, Hornets or Spurs. I’d like to see Jerry Sloan make another trip to the Finals, but the odds are against that happening this season.