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.

3. T-Wolves draft both Ricky Rubio and Jonny Flynn with no (good) plan in place.
When GM David Kahn drafted two point guards with back to back picks, everyone around the league thought that he had a trade in place. Not so, according to Kahn, who likes the idea of playing two smallish, ball-dominating guards in the same backcourt. Now Rubio is threatening to stay in Europe for another year or two, and Kahn is seemingly happy to wait until Rubio finally makes his way to the NBA to see if his unorthodox plan (and that’s being kind) will ultimately work.

4. The Magic trade for Vince Carter.
Let’s see, your team just lost in the Finals — losing two games in overtime — and your main ballhandler is a free agent. What do you do? It’s tough to create the kind of chemistry that gets a team to the Finals, so you re-sign him, right? Not the Orlando Magic, who balked at Hedo Turkoglu’s $10 million-per-season asking price and instead pulled the trigger on a trade for Vince Carter. So essentially they gave up their most consistent player (Turkoglu) and a budding star (Courtney Lee) for the 32-year-old Carter. A healthy Jameer Nelson (along with a savvy mid-level signing) may have been enough to put this Magic team over the top, but now we’ll never know.

5. Pistons sign Ben Gordon for $11 million per season.
Look, I like Ben Gordon…for about $8 million per season. The guy is a great scorer, but he has sketchy shot selection at times and is a big liability on defense. For years, the Bulls didn’t even deem him good enough to start, but the Pistons are going to throw $11 million per year at him? And it turns out that they were bidding against themselves, as the Bulls didn’t even bother to make an offer before Gordon signed with Detroit.

6. No one makes an offer (that we know of) to Ramon Sessions.
7. The Bucks don’t extend one-year offer to Charlie Villanueva and lose him without compensation.
8. The Bucks give away Richard Jefferson.
Let’s tackle my beloved Bucks all at once. First, they give away a former All-Star Jefferson in a salary dump. Then, they elect not to take the option to make Villanueva a restricted free agent, which allows the Pistons to sign him away without having to give the Bucks anything in return. I know why the Bucks made these moves — they don’t feel that this roster is worthy of being in luxury tax territory and I don’t disagree, but small market teams can’t give away assets for nothing. Yeah, maybe signing Villanueva for the final year of his rookie contract would have cost them $4 million or more, but they could have traded him for a young prospect or maybe a draft pick. And why didn’t they get a first rounder out of the Spurs for Jefferson? Small market teams have a tough time signing stars, so they have to build through the draft and via trade. Giving away the rights to a $7 million-per-season player (which is what the Pistons paid Villanueva) is not the way to get better. Lastly, why hasn’t anyone made RFA Ramon Sessions an offer? The Bucks have proven that they are trying to cut salary and they picked up Brandon Jennings in the draft. Does anyone really think that they’d match a significant ($4-$5 million per year) offer for Sessions? He had the 13th-highest PER amongst all point guards, and the 5th-highest amongst all point guards under the age of 26. Moreover, his +/- numbers are the best on the team for anyone who played more than 1200 minutes. Why hasn’t a team in need of point guard help (Portland?) jumped on this guy?

9. The Suns give away Shaquille O’Neal.
Regular readers know that I’m not fond of the job Steve Kerr is doing in Phoenix. First, he trades Rudy Fernandez away for cash. Then he ruins one of the most exciting teams in NBA history by trading Shawn Marion for Shaquille O’Neal. Now he seemingly admits that the Shaq trade was all for naught by giving him away in a salary dump. Shaq made the Third Team All-NBA last year, and Kerr traded him for Ben Wallace and Sasha Pavlovic’s expiring contracts. Geesh.

10. Six teams pass on DeJuan Blair IN THE SECOND ROUND!
When I first heard that there were concerns about Blair’s knees, I thought he might fall into the bottom third of the first round. Even if the guy is missing ligaments in his knees, he was still one of the best rebounders in all of college basketball last season and he ate up #2 pick Hasheem Thabeet in Connecticut. When Blair fell into the second round I was stunned as the Kings, Wizards, Blazers, Nuggets, Pistons and Grizzlies all passed on Blair. A second round pick doesn’t require the same kind of financial commitment as a first round pick, so there’s very little downside if the guy doesn’t pan out. Blair fell and fell, right into the inviting arms of the Spurs, who will be lucky to have him on the roster for the foreseeable future.

The Los Angeles Times is reporting that Lakers backup point guard Shannon Brown has agreed to a two-year deal worth $4.2 million that includes a player option in the second year. Brown initially impressed Laker fans in the final third of the regular season and saw considerable playing time in the first round of the playoffs against the Jazz.

On a day in which Kobe Bryant spoke out on a variety of topics, including his own contract, the Lakers pared their unrestricted free agents down to one after Brown agreed to take $4.2 million over the next two years, with the second year his option.

Meanwhile, Brown declined a more lucrative offer from Indiana to stay with the Lakers, said his agent, Mark Bartelstein.

“This is where he wanted to be,” Bartelstein said. “The Lakers treated him well during his short time there, and he hopes to continue and improve his game.”

Brown, 23, was a throw-in with Adam Morrison in the February trade that sent Vladimir Radmanovic to Charlotte, but he became a fan favorite with his hustle and surprisingly powerful dunks. He made $796,000 last season.

Brown went scoreless in the NBA Finals, playing in only three games because of Derek Fisher’s increased playing time, though he had better stats earlier in the playoffs, including 7.2 points a game in the first round against Utah.

This is a great signing for the Lakers who seem to be getting bigger by the year. With the acquisition of Ron Artest, and assuming they resign Lamar Odom, the Lakers will cut quite an imposing figure down low with the aforementioned players, Pau Gasol, and Andrew Bynum.

What they’ve been lacking is a point guard they can rely on. With Derek Fisher in the twilight of his career and Jordan Farmar refusing to live up to his potential, Shannon Brown is a great option. At only 23, Brown has time to develop his game over the next two seasons as he will likely see a fair amount of playing time each game.

The L.A. fans quickly took to Brown due to his hustle and sweet shot. When you’re bench consists of mid-level and overpaid athletes such as Luke Walton and Sasha Vujacic, Brown’s $2.1 million a year contract is quite a deal.

In a surprising sequence of events, Ron Artest has agreed to a three-year deal with the Los Angeles Lakers, while Trevor Ariza is headed to Houston with a five-year deal. Both contracts are of the mid-level variety, which are expected to start at about $5.8 million per season.

J.A. Adande writes…

Just as telling is the Lakers’ decision to go with Artest instead of younger Trevor Ariza. It shows they’re putting everything into these next three years and not worrying too much about the future. Ariza would have wanted a five-year contract; Artest was willing to come for three. The end of Artest’s contract coincides with the reported opt-out clause for Bryant. We don’t know whether Kobe will choose to leave in 2012, but we do know this: He’ll be 33 that summer, turning 34 in August. The three years with Artest probably represent Bryant’s last stages of physical superiority over the opposition. He’ll still be ahead of the pack in knowledge and determination, but we’ve already seen some slipping in his athletic ability and it will only decline from here.

So the Lakers are thinking short-term and trying to squeeze in a couple more championships right now. Lakers GM Mitch Kupchak was even willing to increase his roster’s average age and let one of his best acquisitions walk away, two things general managers are generally loath to do.

Artest gives the Lakers the same qualities as Ariza — perimeter defense and toughness — plus the ability to get his own shot, and a dash of crazy. Ariza wound up in Artest’s old spot in Houston, where he’s actually a better fit. With Yao Ming’s career on pause — at best — the Rockets have to position themselves to be good in a couple of years, perhaps by bringing in a major free agent in 2010 and/or having Yao return from treatment on his feet that might hinder him for the better part of two seasons. Amazing how quickly a team that seemed on the rise in these playoffs now finds itself retooling.

We’ll never know if Ariza was just playing hardball when he expressed frustration that the Lakers wouldn’t offer more than the mid-level because the team called his bluff and moved on. I like this signing for the Rockets, who were originally interested in Orlando big man Marcin Gortat. But when the “Polish Hammer” reportedly made a verbal agreement to join the Mavs, the Rockets moved on to the 24-year-old Ariza.

Artest is a little nutty, and he has the potential to sabotage the Lakers’ season, but it’s not like the team is championship-caliber because they have great chemistry. They don’t. They have more talent than anyone, and when Ariza became irritated with the Lakers’ unwillingness to go over the mid-level, they quickly moved on to their backup plan. Artest will accept his role in L.A. and should fit in just fine, at least defensively. But three years is a long time for him to behave; I expect he’ll have at least one dust up before it’s all said and done.

Once the draft is over, the next step of the NBA offseason is the free agency period. Negotiations start July 1, but players have to wait until July 8 to actually sign on the dotted line. Due to the economy, this promises to be an interesting summer, as more franchises seem to be trying to cut payroll than add talent. There are eight teams with significant cap space this summer, and there’s no guarantee that they’ll be willing to use it. Teams that are over the cap can add good players in two ways: 1) they can sign a player to the Mid-Level Exception (MLE), which will be around $5.8 million per season (and can be split up between two or more players), or 2) they can work out a sign-and-trade with the player’s old team.

Below is a list of the top unrestricted free agents this summer. These are players who can sign with whomever they like. They’re ranked in order of total value, which is based on overall talent, age, injury history and cost.

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.

1. Carlos Boozer, PF (27 years-old)
PER: 17.28
At press time, Boozer hasn’t officially opted out, but he is expected to. He can play another year for $12.3 million, but he thinks he’s due for a raise, and I don’t think he’s going to get the kind of raise he’s expecting. Boozer is one of the top 20 players in the league when healthy, but it’s that whole “when healthy” part that’s the problem. Over the past five seasons, he has missed a third of his team’s games. At 27, he’s in his prime, and assuming he has the right supporting cast, I think he can be one of a twosome or threesome on a championship-caliber team. Boozer may not get a raise this summer, but he could get long-term security. The Pistons, Raptors, Kings and Thunder all have the space to make a run at him, but Sacramento and OKC might consider themselves too far away from contending to add a big piece like Boozer. The Pistons seem like the best fit, but they are rumored to have more interest in Ben Gordon. There’s always the possibility that another team works out a sign-and-trade with Utah, but I don’t think anyone is going to give him a max deal, not in this economy.
Value: $12.0 – $13.0 million per year

2. Hedo Turkoglu, SF (30)
PER: 14.82
With the Magic’s trade for Vince Carter, and Turkoglu’s rumored demands for a five-year deal worth $50 million, the general consensus is that Hedo won’t be back in Orlando. I think the Magic would consider a three-year deal at around $8 million per season, but that would put the franchise in luxury tax territory for the foreseeable future. (It would also make them a contender, so it may be worth it.) The Blazers, Raptors and Kings are reportedly interested, but Toronto seems intent on re-signing Shawn Marion, so they may elect to go another direction. Still, at 30, he’s not going to be as effective in the last two years of the contract as he is in the first three, so a five-year deal may be asking too much.
Value: $8.0 – $9.0 million per year

3. Ben Gordon, SG (26)
PER: 17.02
The Bulls reportedly want to re-sign Gordon, but the Pistons seem interested and have a rumored promise of $11 million per season. That seems steep for Gordon, who is undersized for an off guard, doesn’t always have the best shot selection and has a reputation for being a less than stellar defender. He is an outstanding shooter and scorer, and can carry a team at times with his offensive ability. Gordon may sign for over $10 million per season, but I have a gut feeling that he’s going to regret the decision to turn down two different extensions from the Bulls over the last two years.
Value: $8.0 – $9.0 million per year

4. Ron Artest, F (29)
PER: 15.64
Artest played for $7.4 million last season, and I think his best bet for a contract that’s more than the MLE is with the Rockets. Don’t expect them to break the bank, as Daryl Morey knows that the Rockets probably won’t have much competition for Artest’s services. He brings a lot to the table, both good and bad. He’s not a great fit with any of the teams with significant cap space, so the Rockets might be able to lock him up to a three-year deal for a bit more than the MLE.
Value: $7.0 – $8.0 million per year

5. Trevor Ariza, SF (24)
PER: 15.51
Ariza really came on this season and was a big factor in the Lakers’ championship run. He averaged 11.3 points, 4.3 rebounds, 1.6 steals, and shot an astounding 48% in the postseason. That, plus his stellar defense, is exactly what the Lakers need out of the small forward position, and all indications are that they’ll be able to re-sign him. I’d expect a MLE-type deal, because he’s unlikely to leave L.A. even if another team offers him a little more money. The Blazers and Kings could both make a run at him, but they would probably need to offer him $7 million or more per season to pry him away from L.A.
Value: $5.5 – $6.5 million per year

6. Jason Kidd, PG (36)
PER: 16.95
Barring a sign-and-trade, Portland and Atlanta are the only teams in the market for Kidd’s services that could offer him more than a mid-level deal. The general consensus is that he’ll re-sign with the Mavs, though at 36, I doubt Dallas gives him more than a two-year deal. I think Mark Cuban will do what it takes to keep Kidd in town, or else he’d have to deal with the ramifications that the Kidd-for-Devin Harris deal was a disaster. (He’s still in denial.)
Value: $7.5 – $8.5 million per year

7. Lamar Odom, F (29)
PER: 16.60
Odom has said in the past that he can’t imagine not living near the beach, so I don’t think that the Lakers have to come very strong to retain his services for another two or three years. Most of the teams with cap space could use him, but I think he’ll stay put. When he plays to his potential, his value is well over $10 million per season, but given his age and tendency to disappear for long stretches, I think the Lakers will get a hometown discount. I don’t see another team offering him enough to leave L.A.
Value: $7.0 – $8.0 million per year

8. Shawn Marion, F (31)
PER: 16.02
The Raptors have said that they intend to re-sign the Matrix, and he played well for them when they went 9-4 down the stretch. His reputation of being a bit of a malcontent will work against him in this market, though he’s bound to sign for more than the mid-level. He still has two or three good seasons before his skills start to decline.
Value: $7.0 – $8.0 million per year

9. Mehmet Okur, FC (30)
PER: 17.59
Okur has the option to play another year (for $9 million), but at press time, the feeling was that he was almost certain to opt out. He had a great year, averaging 17.0 points, 7.7 rebounds and shooting almost 45% from long range, and there are a number of teams — the Thunder, Pistons, Raptors and Kings — that could use him. He isn’t a good help defender, but he’s physical on the block and is a pretty good defensive rebounder. I think he’ll stick with the Jazz, but he’ll test the waters first.
Value: $8.0 – $9.0 million per year

10. Andre Miller, PG (33)
PER: 18.71
Statistically speaking, Miller’s last two seasons were two of his best, and he proved that he’s not over the hill. He’d be a good fit with the Blazers, but so far there has been no confirmation of interest. The Hawks are another team that could use his leadership, and it looks like Mike Bibby may be on his way out of town. Besides those two teams, Miller’s best bet is to re-sign with the Sixers (who just drafted the raw Jrue Holiday) or take a mid-level deal with a contender in need of point guard help.
Value: $6.0 – $7.0 million per year

11. Rasheed Wallace, FC (34)
PER: 14.91
Wallace says he wants more than the mid-level, but I’m not sure that’s what the market is going to bear. He’ll likely sign with a contender, and other than the Blazers (and maybe the Hawks) all of the contenders are over the cap. That leaves two options: 1) a mid-level deal or 2) a sign-and-trade. At 34, it’s going to be interesting to see how long of a deal he gets, as his game looked to be on the decline last season.
Value: $5.5 – $6.5 million per year

12. Allen Iverson, G (34)
PER: 15.89
AI is in a tough spot. He’s a former MVP that is at his best when his team is built around him — only his skills aren’t quite good enough to justify that. His move to Detroit was a disaster, so he hasn’t been able to prove that he’s willing to accept a lesser role to benefit his team. This makes him a very risky addition for a contender. I don’t see any of the teams with cap space rolling the dice, but will Iverson sign a mid-level deal? That might be his only option at this point.
Value: $5.5 – $6.5 million per year

13. Mike Bibby, PG (31)
PER: 16.38
Bibby was better in his first full season with the Hawks, but Atlanta just traded for Jamal Crawford and drafted Jeff Teague, so Bibby’s stint in Atlanta is likely over. Portland could use his services, but there hasn’t been any indication out of the Pacific Northwest that that’s the case. He’s not much of a creator, so he’d be the best fit for a team that would ask him to knock down open shots (i.e. the Rockets, Heat, Lakers, Mavs). I think he’ll eventually sign for a playoff team at the MLE.
Value: $5.5 – $6.5 million per year

14. Brandon Bass, PF (24)
PER: 16.49
Bass has performed well in limited minutes behind Dirk Nowitzki, but it might be time for a change of scenery. While his PER has been 16+ the last two seasons, he’s still pretty much flying under the radar. At just 24, he still has room to grow, and he’s already a solid offensive player. He’s probably a 14/7 guy as a starter, but he’s more likely going to join a contender at or near the mid-level and come off the bench.
Value: $4.5 – $5.5 million per year

15. Chris Andersen, FC (31)
PER: 18.16
“The Birdman” brought great energy off the Denver bench and even outplayed Nene at times. I criticized the Nuggets for giving Marcus Camby away, but clearly it was Andersen that made it possible. At 31, he’s no spring chicken, but he’s certainly in line for a raise. He’s a great shotblocker and rebounder, and is decent when he’s asked to catch the ball and finish. But he isn’t particularly good as a post defender and has limited outside touch. He strikes me as another near mid-level guy.
Value: $4.5 – $5.5 million per year

16. Anderson Varejao, FC (26)
PER: 14.62
Varejao is tough on the class and has the potential to be a hard-nosed defender, yet he spends a lot of time flopping to the floor looking for the call. His offensive game is non-existent (and isn’t improving), and as a liability on that end of the court, he’s not going to get the kind of contract he’s expecting. As Jeff Van Gundy has pointed out, it’s going to be tough for the Cavs to play Shaq and Varejao at the same time, which makes him sort of expendable in Cleveland. They may re-sign him so that Shaq can get a game off from time to time, but I don’t think they’re going to meet his asking price. I don’t know that any of the teams with cap space would be willing to pay more than the mid-level for 6’11″ defender/rebounder with no discernible offensive game. Someone will offer him a mid-level deal.
Value: $5.5 – $6.5 million per year

Other notables: Grant Hill, Kyle Korver, Zaza Pachulia, Dahntay Jones, Antonio McDyess, Drew Gooden, Anthony Parker, Flip Murray, Stephon Marbury, Wally Szczerbiak, Joe Smith, Anthony Carter, Von Wafer, Marquis Daniels, Rodney Carney, Shelden Williams, Chris Wilcox, Desmond Mason, Matt Barnes

That wraps up the significant unrestricted free agent. Check back on Monday, when I’ll break down this summer’s group of restricted free agents.

Related content:

The Top Restricted Free Agents of 2009
Which NBA teams will have cap space this summer?
The Top 10 NBA Free Agents of 2010

DraftExpress is over at the Reebok EuroCamp, and reported some rumors that are making the rounds.

Jordan Hill potentially slipping into the bottom of the top-10 or even possibly slightly beyond. The talk is that the Washington Wizards’ 5th pick could very well end up being claimed by Stephen Curry (whether for them or another team trading up), and that since Minnesota, Golden State, New York and maybe even Toronto appear to be looking at other positional needs, Hill could be on the short end of the stick come draft night.

Hill has a lot of upside, picked up the game late, and still averaged 18.3 points and 11.0 rebounds per game for a NCAA tournament-caliber team in a power conference. He has long arms and a great reach, and he can jump out of the gym. The only concern from his combine numbers is a lack of lateral quickness. He’d be a good fit for the Bucks at #10 and even the Raptors at #9, though Toronto might be interested in finding a banger so that they can move Chris Bosh to power forward full time.

Ron Artest as a willing and interested free agent target for both Greek powerhouses this summer, Olympiacos and Panathinaikos, granted he does not find a superior NBA offer on the free agent market.

Hmm, Artest is thinking about going the Josh Childress route. I think he’ll eventually sign an NBA deal, probably with the Rockets in the $7-$8 million per season range. I don’t know that any team is going to offer him more than that in this economic environment. He has been a pretty good citizen of late, but he’s still Ron Artest.

DeJuan Blair, whose knees and arthritic condition are a major concern to certain teams

Ugh. I was advocating that the Bucks take Blair if Jordan Hill is gone at #10, but that was only when I was worried about his weight. Now we learn that he has bad knees, though the information is sketchy at best. If this is accurate, I think I’d steer clear of him in the late lottery.

Plenty of chatter about the Ricky Rubio situation, with the most interesting commentary coming from the many members of the Spanish basketball industry, which are out here in full force. The news this morning about a lawsuit being planned by Rubio’s camp is apparently very true, and there was plenty of spirited discussion regarding whether his exorbitant buyout relative to his proportional contract will hold up in a Spanish court.

Some cited the fact that similar cases in soccer (for example in England) had sided in favor of the players in the past, while others mentioned that Rubio’s willing acceptance of a large pay raise a few months back had nullified his ability to dispute the validity of the deal.

SI.com has the scoop on Rubio’s buyout…

A further complicating issue is the buyout demanded by Rubio’s Spanish club DKV Joventut Badalona. The club will set Rubio free from his contract if, before June 30, he pays $6.6 million (4.75 million euros being the exact figure). If he pays the buyout after June 30, the price he owes the club rises to $8 million (5.75 million euros).

It’s hard to imagine that the team will be so shortsighted as to refuse to negotiate a much lower buyout. The same club last season was paying Rubio — its biggest star and best player around whom its marketing was built — a salary of 70,000 euros, which by today’s exchange rate is worth $97,706. For this season only, the club preemptively raised Rubio’s salary to 210,000 euros, or $293,118, in an apparent attempt to show it was treating him fairly.

But there is no fairness by today’s standard in paying a player less than $100,000 and demanding a buyout of $8 million.

If Rubio’s camp is unable to reduce the amount of the buyout, it’s conceivable that it will be more than his entire salary for his rookie year. Sure, he should be able to sign endorsement deals that will make it a profitable first year in the NBA, but the buyout number is ridiculous given how his old team was paying him for the last few seasons.

- Steve Nash plans to wait and see what happens to the Suns’ roster before getting serious about an extension.

- Ron Artest would like to return to Houston, but if he gets an offer he can’t refuse from someone else, he’s not going to refuse it.

- The Nets have been rumored to be shopping Yi Jianlian, but Rod Thorn doesn’t see it that way.

- Before the lottery, the Grizzlies were supposedly one of the few teams to have more interest in Hasheem Thabeet than Blake Griffin, so expect Memphis to take the UConn shotblocker with the second pick in the draft.

- ESPN Insider says that the Knicks’ interest in Stephen Curry might have more to do with LeBron’s friendship with and admiration for the young man than his being the right pick for the Knicks. So they may draft Curry to have a better shot at LeBron next summer.

- It looks like Rockets owner Leslie Alexander is willing to spend. There’s never been a better time to wrestle good players from other teams looking to cut salary. The Rockets have T-Mac’s monster contract ($22.5 million) that expires next summer, which means the Rockets may be able to pull off a deal similar to the Iverson/Billups swap that the Nuggets made last year.

- The Jazz are willing to pay luxury tax to keep Paul Millsap on the roster. This could just be a smokescreen meant to dissuade other teams from making the restricted free agent an offer, but the Jazz do seem determined to re-sign the talented forward.

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.

Detroit Pistons
Projected Cap Space: $19.6 million
Unless they’re thinking about keeping Rasheed Wallace around, the Pistons don’t really have any big decisions this summer when it comes to personnel already on the roster. The Chauncey Billups-for-Allen Iverson swap was designed to free up cap space and in those terms, it worked beautifully. Sure, the Pistons gave up any chance of a deep run in the playoffs by trading Billups away, but the writing was on the wall – i.e. the Pistons weren’t going to the Finals – so Dumars chose to start the rebuilding process earlier rather than later. Neither Iverson nor ‘Sheed are likely to be back, but Wallace has a better chance of returning, however slight. The Pistons appear to be building around Tayshaun Prince and Rodney Stuckey (and Rip Hamilton?), but those are complementary players, not franchise-types. Joe Dumars built a winner without a true franchise player before, and he can do it again. The Pistons need size. Keep an eye on the Jazz. If Boozer opts out, he could land in Detroit, but if he doesn’t, the Pistons could go after Paul Millsap since the Jazz would have a tough time matching a substantial offer.

Atlanta Hawks
Projected Cap Space: $17.8 million
Mike Bibby, Zaza Pachulia and Flip Murray are unrestricted free agents and Marvin Williams is a restricted free agent, so the Hawks could have a very different roster heading into next season. Both the Hawks and Bibby are saying the right things, but can the two come to terms on a fair deal? There’s no way that Bibby is worth what he made last season ($15.0 million), but how much is he willing to come down to return to Atlanta? Looking at this list, would there be another team wiling to offer him more than the mid-level? Memphis? Detroit? Toronto? Minnesota? Nope. Oklahoma City? Sacramento? Probably not. Portland? Maybe. The point is that in this economy, by playing hardball the Hawks should be able to re-sign him for a two-year deal averaging around $7 million per season. I’m not sure that he’s even worth that at this point in his career (remember – he’s 31), but if the Hawks want him back, they need to be careful not to overpay. Likewise, is Marvin Williams worth the $7.4 million it’s going to cost to keep him around for another season? He’s just 22 and already has the 13th-best PER amongst small forwards. Then there’s Josh Childress, who can return from Greece as a restricted free agent. With all these decisions and all this potential cap space, the Hawks promise to be one of the most interesting franchises to watch this summer.

Oklahoma City Thunder
Projected Cap Space: $17.1 million
With a young, improving core of Kevin Durant and Russell Westbrook, as well as a likely top 5 draft pick, the Thunder seem primed for a good season. Westbrook is more of an off guard than a pure point, so they could use a lead guard, as well as some help on the front line. They could go after Boozer, Millsap or David Lee, and are one of the teams that could easily snatch Ramon Sessions away from my beloved Bucks. The question is whether they’ll go after inexpensive young guys that can grow with Durant and Westbrook (Lee, Millsap, Sessions) or go after an established star (Boozer, Kidd, Bibby, etc.) with the thinking that they’ll become instant contenders. With their cap space, the Thunder could afford to add two or three starter- or star-level players, or they could elect to bide their time and try to add a superstar next summer.

Sacramento Kings
Projected Cap Space: $13.7 million
The Kings have good cap flexibility, but have serious lack of talent. They have one star – Kevin Martin – who is locked up for the next four years at a pretty reasonable price. Jason Thompson and Spencer Hawes have some upside, while Andres Nocioni and Francisco Garcia are decent role players. The Kings made the mistake in giving Beno Udrih a long-term deal, so now they have to pay him an average of almost $7 millon over the next four years. Ugh. All right, so how do they turn this thing around? First, they have to hit in the draft. Ideally, that means Blake Griffin, whom they can pencil in at power forward for the next five years. Then they would need to find a good young point guard (Sessions?) that can grow with the Kings’ young lineup. Throw in a value at small forward (Josh Childress, Marvin Williams, Trevor Ariza, etc.) and the Kings would be much better next season. Not “playoff” better, but they’d probably win 10-15 more games. Baby steps.

Toronto Raptors
Projected Cap Space: $11.6 million
What are the chances of Chris Bosh re-signing if the Raptors have another miserable year? By trading Jermaine O’Neal to Miami for Shawn Marion (and his expiring contract), the Raptors have some financial flexibility this summer. If Toronto were to sign a premier big man like Carlos Boozer, David Lee or Paul Millsap, they would improve their chances of winning this season (and keeping Bosh around) while also giving themselves some insurance if Bosh bolts. Toronto already has two of the most important pieces to winning in the NBA: (1) a good point guard in Jose Calderon and (2) a good big man in Bosh. But over the last couple of years they have struggled to find the right complementary pieces. O’Neal didn’t work out, but the Raptors were 10-6 over their last 16 games with Marion, so one option would be to bring the Matrix back at a discounted price. Another free agent to keep an eye on is Ben Gordon. With his ability to put the ball in the hoop, he would thrive in an up-tempo attack and could really take the pressure off of Bosh and Calderon. Besides, the Raptors need a shooting guard now that the 33-year-old Anthony Parker looks to be over the hill.

Portland Trail Blazers
Projected Cap Space: $9.8 million
The Blazers are unique on this list in that they are a playoff team that has some cap space, but they won’t have to use it to keep their core players in town. Portland could add a legitimate star-level player to a roster already loaded with talent. They are set on the wing with Brandon Roy, Rudy Fernandez and Travis Outlaw, and are pretty strong up front with LaMarcus Aldridge, Greg Oden and Joel Przybilla, so the major need seems to be at the point where Steve Blake is more of a placeholder than the point guard of the future. Jerryd Bayless is also a possibility, but his playing time dried up as the Blazers got closer to the playoffs. There are a number of good point guards available – Jason Kidd, Andre Miller, Mike Bibby – or the Blazers could go younger and try to pry Ramon Sessions or Ray Felton away from the Bucks and Bobcats, respectively. Portland has some good mojo working, and the guys least likely to upset the apple cart are experienced, pass-first points like Kidd or Miller. The Blazers could offer them more than the mid-level, which gives Portland the inside track on either player (if they want it).

Minnesota Timberwolves
Projected Cap Space: $7.8 million
The T-Wolves actually look like they’re turning things around. They have an up-and-coming big man (Al Jefferson) and they hit in the draft, finding an efficient, heady power forward (Kevin Love). If I’m running this team – and I’m more qualified than Bill Simmons, who is campaigning for the position – I’d move Randy Foye to off guard and tell him to shoot 200-250 three-pointers per day this summer. Then I’d use my cap space to steal Ramon Sessions away from the Bucks. Mike Miller could play small forward for another season, so I’d use my draft pick on the best player available, preferably a shooting guard who could join Sessions and Foye in a three-guard rotation. Josh Childress and/or Marvin Williams would be a great fit, and might be had for the mid-level (or use the cap space on Childress/Williams and sign Sessions to the mid-level). I’d end up with a core of Sessions, Foye, Childress/Williams, Love and Jefferson – all under the age of 26. Like a fine wine, I’d wait a couple of years for this group to age, and add a piece here or there to complement this core. We’d be in the playoffs by 2011, I’m telling you…