In case you’ve been under a rock so far today, LeBron James announced he is heading back home to rejoin the Cleveland Cavaliers. As soon as that news broke, all the major free agency dominoes began to fall. What follows is a quick roundup of what we know so far.
The Miami Heat are officially in scramble mode after losing James to his hometown team. Now Pat Riley has the unenviable task of rebuilding a roster that just went to the NBA Finals but now has almost no players on it. Like he did in 2010, Riley needs to pull off some kind of miracle for the Heat to remain competitive.
Carmelo Anthony trims list
Reports surfaced soon after James made his announcement that Carmelo Anthony had eliminated the Los Angeles Lakers from consideration and was down to the New York Knicks and Chicago Bulls. No one knows which way he is leaning and there is no timetable for a decision.
Cavs on the hunt for Love
Now that James is in the fold, the Cavs are moving quickly to create their own “Big Three.” They have reportedly offered the Minnesota Timberwolves a package of Dion Waiters, Anthony Bennett and a pick in exchange for Kevin Love. But if they are really serious about acquiring Love, the Cavs are almost certainly going to have to include the No. 1 pick from the 2014 NBA Draft, Andrew Wiggins, in any deal.
Lin to the Lakers, Bosh to the Rockets?
In order to clear cap space to give Chris Bosh a max contract, the Houston Rockets traded Jeremy Lin and his expiring contract to the Los Angeles Lakers along with a first-round pick in the 2015 NBA Draft. Lin will make $14.9 million in the final season of his three-year deal, but will only count $8.57 million against the salary cap. More importantly, the Lakers acquired a first-round pick in next year’s draft, something they didn’t have.
Rockets keeping Parsons
The Rockets reportedly plan to match the Dallas Mavericks’ three-year, $46 million offer sheet to restricted free agent Chandler Parsons. They will do so after signing Bosh (at least that’s the plan). Houston officially has until 11:59 p.m. Sunday to match the offer. The Mavericks have now essentially moved on already looking at other options like Trevor Ariza to fill the holes on their roster.
Bulls looking to add pieces
The Bulls are reportedly in talks with Dwyane Wade to gauge his interest in returning to his hometown. On top of that, Chicago is looking into the possibility of a sign-and-trade with the Los Angeles Lakers for Pau Gasol. That deal would likely mean shipping Carlos Boozer’s albatross of a contract to LA along with either players or a few draft picks.
Warriors won’t trade Thompson
The Golden State Warriors have reiterated that they won’t sent Klay Thompson out of town in a deal for Kevin Love, which means the Cavs are the only team really actively bidding on the 26-year-old All-Star.
Bosh back to South Beach
Chris Bosh has reportedly decided to head back to Miami and is in the midst of finalizing a five-year, $118 million deal to return to the Heat.
Swaggy P, Jordan Hill staying in LA-LA Land
Nick Young and the Los Angeles Lakers have agreed on a four-year, $21.5 million deal to stay with the team. Meanwhile, coveted offensive rebounding force Jordan Hill has also decided to stay with the Lakers, as the two sides agreed to a two-year, $18 million deal.
Isaiah Thomas headed to Phoenix
The Phoenix Suns have reportedly signed Sacramento Kings restricted free agent guard Isaiah Thomas to a four-year, $27 million deal. They are now in the process of finalizing a sign-and-trade with the Kings to get the transaction done.
Gasol done in Los Angeles
Pau Gasol has reportedly turned down a two-year deal worth more than $20 million from the Lakers and it appears his time with the team is done. No one quite knows who leads for his services, but the Bulls, Spurs, Thunder and Knicks are all in contention. Wherever he goes, the team may have to do a sign-and-trade with the Lakers to make it happen.
We will keep you updated as more news happens.