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.

Marc Stein wrote a nice piece discussing some of the bigger NBA trade rumors out there right now.

1. Can we really expect an Amare Stoudemire trade in the next two weeks?

Sources say it’ll happen in-season only if the Suns can find a deal that delivers a mixture of top young talent and payroll relief. Which won’t be easy.

2. A deal for Toronto’s Jermaine O’Neal remains readily available to the Miami Heat. The Sacramento Kings likewise would still love to send Brad Miller to Miami for Shawn Marion as long as they don’t have to take back Marcus Banks, too.

3. I’ve heard multiple rumblings in the past month that Washington has made rugged forward Caron Butler available. But our research disputes that.

4. Portland is naturally making calls to see what it can fetch with its LaFrentz chip, but it appears that there’s a much better chance that Kings swingman John Salmons will wind up with the Blazers — who have inquired about Salmons — than that Chicago’s Luol Deng will.

5. San Antonio’s desire to acquire one more big man (preferably a floor-stretching big man) to counter the Lakers and Boston is no secret.

Random thoughts…

I still can’t believe that the Suns are actually considering trading a former 1st Team All-NBA player in the middle of his prime, but apparently they are…Jermaine O’Neal torched the Lakers two nights ago and looked great doing so. If he joined the Heat, that would become a very interesting team to watch. The key is his staying healthy, however…The Wizards would be nuts to trade Butler away. He’s their best player and the cheapest of their big three…I don’t think I’d go after Salmons if I’m the Blazers unless they’re planning to start him. He doesn’t play well off the bench and given the team’s glut of wings, I don’t know that he’d be the best option in the starting lineup…I’d love to see what Rasheed Wallace could do in a Spurs uniform, but San Antonio doesn’t have any expiring contracts and the numbers just don’t work.

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.

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.