Joe Johnson will reportedly sign a 6-year, $119 million deal with the Hawks.
The only thing hotter than the current temperatures is the free agent signing period in the National Basketball Association. NBA basketball free agency began July 1 and a couple of dominoes have already begun to fall, but this remains the calm before the storm concerning LeBron James.
There are a couple of teams courting ‘King James’ with a max-offer contract. James' free agent status was so widely anticipated a few years ago that some teams freed up as much salary-cap space as possible in an effort to land one of the game’s best players.
James has led Cleveland to the league’s best record the previous two seasons, but neither one of those campaigns have resulted in a NBA Finals appearance. Without James, the Cavaliers appear to be a middling team in the Central Division light years away from a championship.
Despite that scenario, Cleveland has been installed as a 1/2 favorite according to Bodog.com to re-sign the superstar. James grew up in nearby Akron, and has played for Cleveland his entire pro career that began in 2003.
If James stays with the Cavs, they still appear to be a couple of years away from serious title contention. Cleveland recently hired Byron Scott as its new head coach, but the squad needs another key component to challenge the Los Angeles Lakers, Boston Celtics and Orlando Magic as serious title contenders.
Bodog.com lists Chicago as a 5/2 selection to land James. The Bulls are an interesting selection for a couple of different reasons. First, the Bulls would become a serious title contender with James in their lineup along with a salary structure to sign another quality free agent.
Chicago captured the Eastern Conference’s eighth-seed in the NBA Playoffs with a .500 record. The Bulls have a quality nucleus of young players with point guard Derrick Rose and forwards Luol Deng and Joakim Noah, but the addition of James could have Chicago reminiscing about the Michael Jordan title teams.
New York (9/2) and New Jersey (15/1) appear to be the other main movers in the LeBron sweepstakes. Playing in a major-media market of the Big Apple has a special allure, especially showcasing your skills in Madison Square Garden with director Spike Lee sitting courtside.
The Nets can brag about having Russian billionaire Mikhail Prokhorov and rapper Jay-Z as owners, along with an upcoming move to a new arena in Brooklyn. The perk of playing in such a big media market is the commercial appeal.
Bodog.com lists Dallas as a 30/1 selection to sign James, while Miami is 35/1. Any other NBA team on the board is set at 18/1, while the lowly Los Angeles Clippers entertain a 40/1 long shot status.NBA Basketball Betting Odds
Part of the Knicks' ability to sign James could hinge on their signing of Suns free agent Amare Stoudemire. Conventional wisdom appeared to have New York go after forward Chris Bosh in a further attempt to land James, but Stoudemire did play for head coach Mike D’Antoni in Phoenix.
Another key free agent shopping his services to a select few NBA basketball teams is guard Dwyane Wade. It appeared early in the free-agent process that Wade was recruiting James and Bosh to South Beach, but now there are reports that Wade is considering playing in his hometown of Chicago.
One big winner already is Atlanta guard Joe Johnson, who inked a six-year deal worth $119 million. Good work if you can get it, especially after shooting just 29.5 percent in a second-round playoff series loss to Orlando in four games.
Dallas re-signed forward Dirk Nowitzki to a four-year deal work $80 million, but the team appears to have no shot at any other marquee free agents. Paul Pierce is another veteran that re-signed with his team, hoping to capture another ring with the Boston Celtics.
One thing is certain at this point of the free-agent frenzy: NBA futures odds will quickly be updated once James, Wade, Bosh and others ink new deals. Then all we have to do is wait a couple more months until preseason camps begin.