Per Yahoo! Sports…

Free-agent forward Leon Powe will sign a two-year contract for the league minimum with the Cleveland Cavaliers on Tuesday if the team’s doctors are satisfied with the progress of his injured left knee, a league source said.

Powe tore his anterior cruciate ligament and cartilage in his knee during Game 2 of the Boston Celtics’ first-round series against the Chicago Bulls. He had reconstructive surgery on May 5 – his third major knee surgery – and has been rehabilitating in Los Angeles. Powe hopes to be back on the court by this season’s All-Star break, and the Cavaliers are willing to take a low-risk gamble on him pending the results of his physical.

Over the past two seasons with the Celtics, Powe has been highly productive in the limited minutes he’s received. He had a PER of 21.04 in the 2007-08 season and 17.25 in 2008-09. (15.00 is average.) He’s an energy guy with a great nose for the ball and a limited offensive game. Sound familiar? That’s exactly how I’d describe Anderson Varejao.

Which brings me back to the problems I have with the Cavs’ offseason. I don’t mind the addition of Shaquille O’Neal, but if he and Varejao (or Powe, if he signs) are on the court at the same time, LeBron is going to find that it’s going to be tougher to get to the hoop. Other than Zydrunas Ilgauskas, none of the Cavs’ bigs can shoot the ball effectively from outside the lane.

This wouldn’t be much of a concern if Cleveland didn’t depend so much on LeBron’s one-on-one game. If he can’t get to the rim as easily, he’ll be settling for jumpers, and the Cavs’ offensive efficiency will go down.

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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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 Christmas Day loss to the Lakers was understandable. And maybe even the next night’s loss to the Warriors was forgivable, since it the second of back-to-back games and Oakland is always a tough place to play. But what about consecutive losses to the Knicks and the Bobcats, each with a day’s rest beforehand? After racing out to the best start in league history, the Celtics are now 2-5 in their last seven, and have lost back-to-back games to teams with a combined record of 26-42. Ouch.

It’s tough to be the defending champs, because every night you’re going to get your opponent’s maximum effort. It’s also important to note that all five of those losses were road games, and it can be tough to win on the road in the NBA, especially when you have a big bull’s eye painted on your back.

A quick look at the Celtics’ season stats reveals a few things:

1. Other than Eddie House, they don’t have a legitimate three-point threat on their bench. This is an area where they miss James Posey (along with what he brought to the table defensively).

2. Glen Davis is shooting 37% from the field, which is absolutely dreadful for a power forward. Despite bigger minutes, his points and rebounds are down. Not good.

3. Rajon Rondo and Kendrick Perkins are holding up to their end of the deal. Rondo is averaging 11.1 points, 7.6 assists and 4.9 rebounds a game, and he’s fourth in the league in steals. He is quickly developing into one of the best all-around point guards in the league. Perkins hasn’t made as big of a leap, but he’s a few minutes away from averaging a double-double. Right now he’s at 8.9 points and 8.5 rebounds per contest.

Given how important James Posey was to the Celtics’ title run, we knew heading into the season that it was a big risk to let the Hornets sign him away. He brought solid defense and good three-point shooting, which are two things that are lacking on the Boston bench right now. The C’s are toying with the idea of bringing Stephon Marbury in for a trial run (if he ever agrees to a buyout with the Knicks), and he would provide some long-range punch off the bench. I don’t see a lot of other options for the Celtics, considering they don’t have a substantial expiring contract or tradeable players. Garnett and Pierce are untouchable, and the team can’t do without Ray Ray’s outside shooting. Rondo is too good and he would leave a gaping hole at point guard, and the same goes for Perkins in the middle. What are the C’s going to get for House, Tony Allen or Glen Davis? Leon Powe would be good trade bait, but the Celtics need his toughness and rebounding off the bench. Besides, it’s doubtful that Danny Ainge would make any major changes to this group since it got them to the Promised Land last season.

I don’t think this 2-5 stretch is a sign that the Celtics aren’t for real. They are. The NBA season is a grind and they’ll be there at the end. It’s going to be interesting to see how they play at home tonight against a good Houston team and then on Friday at Cleveland.

Thursday (1/8) Update: The Rockets did indeed beat the Celtics in Boston.