Basketball Trade Rumors and notes for June 29th

1. Sources: Free Agent Summit took place in Miami over weekend, trio talked scenarios

2. Nets to trade Yi Jianlian to Wizards

3. Brian Shaw poised to be Cleveland Cavs coach, but deal not done yet

4. Colangelo says Bosh "likely" to leave team

5. Source: Wade contemplating visit with Bulls

6. Kevin Durant likely to agree to maximum contract extension

7. Source: Dwyane Wade believes Miami Heat could add LeBron James and Chris Bosh
1. Sources: Free Agent Summit took place in Miami over weekend, trio talked scenarios

Espn is reporting "A modified version of the ballyhooed free-agent summit that was initially suggested and then downplayed by Dwyane Wade has indeed taken place, has learned.

Sources close to the situation said Monday night that three of the biggest names in basketball — Wade, Chris Bosh and LeBron James — met over the weekend in Miami to seriously discuss their futures, with a focus on the increasingly plausible possibility of those three teaming up with Wade’s Heat.

Yet sources with knowledge of the meeting stressed to that James, while clearly intrigued by the possibility of forming a star-studded Miami trio with Wade and Bosh, has not yet committed to leaving his hometown Cleveland Cavaliers for South Beach."

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2. Nets to trade Yi Jianlian to Wizards

The Newark Star-Ledger is reporting " The Nets have gotten another step closer toward their ultimate goal of hitting the $33-million mark in bankroll by dumping Yi Jianlian on the Washington Wizards, in a move that will be announced in a few hours.

In return, the Wiz are sending the Nets Quinton Ross’s $1.146 contract, which enables the Nets to increase their cap space to precisely $30 million – a nice round number that will get you LeBron James ($16.5M) and a stud who can start out at $13.5M.

So much for the foray into the Asian continent, unless they believe a billion Chinese fans are going to follow the owner. But it’s a good move all around, and best for the kid himself."

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3. Brian Shaw poised to be Cleveland Cavs coach, but deal not done yet

The Cleveland Plain Dealer is reporting "Brian Shaw may be close to becoming the Cavaliers next head coach but it is not done yet.

According to sources, Shaw had a positive interview with the team Monday and early Tuesday and he emerged as the frontrunner to replace Mike Brown. Shaw has impressed the Cavs with not only his focus on defense and knowledge of how the triangle offense would work with LeBron James, but also his confidence in dealing with players because of his 14-year history in the league.

But Cavs sources said Tuesday morning that Shaw had not been formally offered the job and was not close to finalizing a contract with the team.

AOL Fanhouse and the Los Angeles Times reported that Shaw was close to accepting the job."

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4. Colangelo says Bosh "likely" to leave team

The Toronto Sun is reporting "This much is certain amid the many uncertainties following Chris Bosh into Thursday’s free-agent frenzy, a truth that’s as obvious as the misinformation that continues to swirl out of control.

Bosh needs the Raptors to orchestrate a sign and trade, which is the only scenario guaranteeing Bosh an extra year on his contract, the only option that will assure a max contract.

As of Monday, nothing has been done or been said, on or off the record, whether a source is high ranking, anonymous or otherwise, for anyone to suggest where Bosh is going.

All signs point to Bosh departing Toronto following seven years of service, especially with Raptor GM Bryan Colangelo telling the FAN 590 Monday: "I think it’s likely that he will leave."

But for anyone or any outlet to say with certainty what CB4 is thinking is the stuff of complete fiction.

What is also certain is that Chicago and Miami are the leading candidates to land Bosh, with New York third and New Jersey fourth.

Also certain is that this free-agent process will not see a quick resolution.

Even though teams are lining up to visit the likes of LeBron James, planning recruiting trips, setting up visits when free agency tips off on Thursday, nothing official can happen until the league’s moratorium expires on July 8.

If one were to exercise any degree of logic, which has gone completely lost in the days and weeks leading up to this momentous period, it’s virtually impossible for any team to get anyone signed on the bottom line with so many moving parts and pieces.

The basketball world was abuzz on the weekend following a report published in the New York Times citing an unnamed club executive who felt Bosh and James were heading to the Bulls.

"A done deal," was how this anonymous executive put it, which is completely foolish.

In time, maybe Bosh and James will join forces on a Bulls team that has the potential to emerge as the power team in the NBA, but anything is possible."

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5. Source: Wade contemplating visit with Bulls

The Chicago Tribune is reporting "A league source said on Monday that Dwyane Wade is contemplating a free-agent visit to his hometown Bulls, who would be receptive to meeting with the Heat’s All-Star guard.

Such a scenario seemed far-fetched on May 26 when Wade questioned the organization’s loyalty to star players in an exclusive interview with the Tribune’s Fred Mitchell. Also, Wade has made little secret of his desire to re-sign with the Heat.

Along those lines, the Sun Sentinel reported on Monday that Wade is hopeful his current employer can woo both LeBron James and Chris Bosh to South Florida.

Currently, neither the Bulls nor Heat possess enough salary-cap space to sign two maximum free agents. The Heat could get closer by unloading Michael Beasley’s $4.96 million salary, which team President Pat Riley has tried to do.

That the Bulls might sit down with Wade, which couldn’t be corroborated by a team source, speaks to how open-minded management is regarding this prime opportunity to improve significantly with roughly $30 million of cap space.

The Bulls hope to acquire two significant free agents from the unprecedented deep pool featuring James, Wade, Bosh, Joe Johnson, Carlos Boozer, Amare Stoudemire and others."

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6. Kevin Durant likely to agree to maximum contract extension

The The Oklahoman is reporting "The most open and shut order of business in the NBA this summer rests in Oklahoma City, where the Thunder and Kevin Durant are expected to agree on a contract extension soon after July 1.

Even the last shred of suspense — whether Durant will ink a short-term contract or long-term deal — becomes
somewhat predictable when both the business ramifications and the track record of the man who’ll handle Durant’s affairs are taken into account.

Given those two factors, as well as Durant’s frequently stated preference to remain in OKC as long as possible, it appears likely that the Thunder’s franchise player will commit to a five-year deal, the maximum allowable years as set by the league’s collective bargaining agreement.

"Kevin expects to have an opportunity to stay with the Oklahoma City Thunder and continue to play," said Durant’s agent, Aaron Goodwin. "And he fully believes that that opportunity should be a maximum opportunity, as do I.

"Kevin has surely put himself in position, by becoming a First-Team All-NBA player, by leading his team to the playoffs and the great run that they had, to be deserving of that."

Under league rules, the Thunder can begin negotiating an extension at 11 p.m. CST on July 1. The contract cannot be signed, however, until July 8.

The value of Durant’s deal will not be known until next July, when the salary cap for the 2011-12 season is set. But under current projections for the 2010-11 season, Durant is in line for a contract in the neighborhood of $84.85 million over the life of a five-year deal. His first-year salary in the new deal, which would begin for the 2011-12 season, would be worth close about $14 million based on projections of a $56.1 million salary cap in 2010-11.

With maximum allowable 10.5 percent raises, Durant’s salary would increase to $15.4 million in Year Two, $16.9 million in Year Three, $18.4 million in Year Four and $19.9 million in the fifth and final season.

It’s the final season that is most significant and what makes it likely Durant accepts a five-year deal."

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7. Source: Dwyane Wade believes Miami Heat could add LeBron James and Chris Bosh

The Palm Beach Post is reporting "The starting gate of NBA free agency is about to burst open.

The Miami Heat just might win a triple crown.

A source close to Dwyane Wade said the Heat guard believes his team is poised to pull off a free-agency coup of landing himself, Cleveland Cavaliers guard LeBron James and Toronto Raptors forward Chris Bosh.

However that same source, as well as a party inside the league, told the Sun Sentinel that Wade also plans to cover himself during the initial days of the free-agency negotiating period by scheduling interviews with the New York Knicks, Chicago Bulls, and, in somewhat of a surprise, the Dallas Mavericks.

While the Knicks and Bulls, like the Heat, have the salary-cap space to sign multiple top-tier free agents, the Mavericks do not have available cap space this offseason and would need to complete a sign-and-trade agreement with the Heat to add Wade.

In addition, while there has been speculation that a James arrival in South Florida would mean Pat Riley again returning to coach the team, a party close to Wade indicated that James would be receptive to working with Erik Spoelstra, who is scheduled to begin his third season as Heat coach.

While free-agent negotiations are allowed to begin July 1, teams are not allowed to reach binding free-agent agreements until July 8.

Although speculation on a Wade-James-Bosh pairing has centered on each of the three taking less than maximum salaries to make the math work, one NBA team executive told the Sun Sentinel Monday that it was his belief that not all of the players involved are receptive to such an approach."

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