Free Agent Update

Day 1 of the most anticipated summer in NBA history has shook out with a couple of deals already being offered, including one maximum contract already on the table.  Here are some of the new developments from today according to sources at espn.com.

Joe Johnson was the first big name free agent to meet with teams, starting with a 12:01 a.m. meeting with the Knicks.  However, his only offer on the table at the end of the day ended up being a maximum contract offer from his current team, the Atlanta Hawks, worth $119 million over 6 years.  He can not officially sign until July 8th, but most sources believe that he will resign with the Hawks.

Drew Gooden was offered, and plans to accept, a 5 year deal worth $32 million from the Milwaukee Bucks.  

Rudy Gay, a restricted free agent, is expected to accept a 5 year, $80 million deal from the Grizzlies.

Carmelo Anthony has been offered a 3 year $65 million contract extension by the Nuggets.

Darko Milicic has agreed to a 4 year deal worth $20 million deal with the Timberwolves.

Paul Pierce has begun contract negotiations with Boston.  The maximum Pierce can be offered is a 4 year deal worth $93 million due to the NBA's over-36 rule.  I believe that the Celtics will be able to resign Pierce.  

According to many sources, Amare Stoudemire will not return to Phoenix.  He has meetings with the Heat and Knicks coming up soon.  

As I gather more information I will continue to keep everyone updated!