After eight long years, the United States returned to its place atop the basketball world, winning the gold medal at the 2008 Olympics with a 118-107 victory over Spain. Spain fought hard but Kobe Bryant was just too much for them in the end, scoring 13 points in the 4th quarter. Spain walked away with the silver medal while Argentina won the bronze medal defeating Lithuania 87-75.

 The Boston Celtics announced that they have signed free agent forward Darius Miles. Per team policy, terms of the deal were not disclosed. Miles, a known head case has magically won over Celtics management. "Darius has been in twice for workouts with us and has impressed us with his progress, health, and attitude;" said Danny Ainge, Celtics Executive Director of Basketball Operations/General Manager. "Darius will have the next couple of months to prove to myself and Coach Rivers that he can help us win." Miles, a 6'9", 235lbs forward out of East St. Louis High School has posted career averages of 10.6 points, 5.2 rebounds and 1.15 blocks in 412 career games.

Devin Brown has rejoined the New Orleans Hornets after playing last season in Cleveland. Brown (6-5, 210) is a six-year NBA veteran, holding career averages of 7.5 points, 3.0 rebounds and 1.6 assists in 352 games while a member of the Cleveland Cavaliers, Denver Nuggets, New Orleans/Oklahoma City Hornets, San Antonio Spurs and Utah Jazz. “I am thrilled to be back on the Hornets,” Brown said. “The team is filled with great talent and playing with a point guard like Chris Paul is a joy. I am excited to be in New Orleans, I have a lot of family in the city, so it has always been a second home to me.” "I'll be all over the place," Brown said Friday. "I can play one through four, basically. And if I was a couple of inches taller, I'd play at the five, too. Wherever coach (Byron Scott) needs me to play, I'll play."

Also returning to their old team is big man Theo Ratliff, who returns to Philadelphia after ending last season in Detroit. “We are very fortunate to sign a player of Theo’s caliber,” 6er GM Ed Stefanski said. “He is a consummate professional, both on the court and off, who will provide us with additional depth in the front court while also serving as a mentor to some of our younger players.” The Sixers now have three players who rank among the NBA’s top-11 active all-time leaders in blocks per game (Elton Brand, Samuel Dalembert and Ratliff).

Straight outta Slovenia, point guard Goran Dragic is expected to sign with the Phoenix Suns in September. Dragic was quoted as saying "This is like my dream come true, I'm the happiest man on Earth now." Going the opposite way across the Atlantic former Suns guard Gordan Giricek has signed a 2 year deal to play with Turkey's premier club, Fenerbahce. Rarely used Miami Heat center Earl Barron has signed with Italy's Fortitudo Bologna.

Several players around the league are staying put as the Denver Nuggets have re-signed guard J.R. Smith to a multi-year contract. Smith, 22, has averaged 12.6 ppg in 137 regular season games for the Nuggets over the past two seasons – primarily as a reserve (just 24 starts). He has shot .396 (306-772) from three-point range as a Nugget, which ranks as the best percentage in team history (minimum 100 made treys). Other players re-signing include Dorell Wright in Miami, Paul Davis of the L.A. Clippers, Demetris Nichols in Chicago, and Devean George has signed a 2 year, $4 million dollar contract to stay in Dallas.

 The Philadelphia 76ers and Andre Iguodala have agreed to a six-year, $80 million contract. Bringing Iguodala back into the fold gives the 76ers a dangerous starting 5 of Iguodala, Andre Miller, Thaddeus Young, Elton Brand, and Samuel Dalembert. The 6ers have lost big man Jason Smith to a knee injury and look to replace him with free agent and former 6er Theo Ratliff. The 6ers have built a very nice squad and look poised to make a lot of noise in the upcoming season.

Milwaukee Bucks guard Mo Williams was the center piece of a 3 team trade that sent Mo to the Cleveland Cavaliers. The Cavs sent guard Damon Jones to the Milwaukee Bucks and forward Joe Smith to the Oklahoma City franchise. The Oklahoma City team also gained forward Desmond Mason while sending Luke Ridnour and Adrian Griffin to Milwaukee.

The Bucks remained active in the off season as they've signed former Sonics and Spurs big man Francisco Elson. The Spurs and veteran guard Michael Finley have agreed on a new contract. The Atlanta Hawks continue to get stronger as they signed combo guard Flip Murray. The Los Angeles Lakers have signed former Clipper Josh Powell, and the Suns have signed Louis Amundson.

Europe continues to raid NBA talent as former Hornet Jannero Pargo signed a 1 year deal worth $4 million dollars with Moscow Dynamo. The guaranteed money in Russia trumped serious bids made by the Spurs and Hawks. He joins former Nets forward Bostjan Nachbar who also left the NBA for greener pastures. In another trip across the Atlantic guard Dan Dickau has signed a two-year deal to play with Avellino of the Italian League.

The Memphis Grizzlies signed Hawks forward Josh Smith to a 5 year $58 million dollar offer sheet that was quickly matched by the Atlanta Hawks. After losing Josh Childress in free agency it was important for the Hawks to lock up their most dynamic player. The Hawks helped out their roster by adding former Bulls guard Thomas Gardner and Ohio State's Othello Hunter.

The Philadelphia 76ers re-signed their back up point guard Louis Williams for 5 years $25 million dollars. Negotiations with Andre Iguodala remain ongoing. The Los Angeles Clippers signed former Heat guard Jason Williams to a one year contract. L.A. also shored up their front line by signing journeyman Brian Skinner. The Cleveland Cavaliers signed Memphis guard Tarence Kinsey as negotiations with Delonte West continue.

The Hornets have reportedly reached an agreement with reserve forward Ryan Bowen to bring him back for the 2008-09 season. The Orlando Magic re-signed free agent center Adonal Foyle. He averaged 1.9 points and 2.5 rebounds per game this past season. The Detroit Pistons have added guard Will Bynum who played last season for Maccabi Tel Aviv of the Israeli League, in addition to re-signing forward Walter Herrmann. The Charlotte Bobcats signed Chicago native and former Bulls guard Shannon Brown. The Oklahoma City NBA franchise acquired guard Kyle Weaver in a trade with the Charlotte Bobcats In exchange for New Jersey’s 2009 2nd round pick.

The Lakers helped out their backcourt by adding D-League star Dwayne Mitchell and Chinese Olympian Sun Yue. The Denver Nuggets signed Grizzlies guard/forward Dahntay Jones. The Los Angeles Clippers acquired forward Steve Novak from the Houston Rockets. In return, Houston will have the option to exchange second round picks with the Clippers in 2011. The 2006 NBA Champion Miami Heat added forwards Bobby Jones and Yakhouba Diawara.

Several mid-level talents continue to chase the Euro as Earl Boykins signed a one-year contract with Italy's Virtus Bologna. The deal is worth more than $3.5 million for the 2008-09 season, which would make the 5-foot-5 guard Italy's highest-paid player. Orlando's Carlos Arroyo has accepted an offer from Israel's Maccabi Tel-Aviv. The point guard from Puerto Rico will receive an estimated $2.5 million net next season -- roughly the equivalent of a $5 million NBA salary after taxes over 3 seasons.

 The Chicago Bulls and Luol Deng have agreed on a 6 year deal worth $71 million dollars. Incentives could push the contract to $80 million dollars. The dollar amount of this contract comes as a surprise considering the down year Deng and the Bulls had in 07-08. After recent front-loaded contracts signed by Kirk Hinrich and Andres Nocioni, this contract is back-loaded so the first-year salary is the lowest and helps the Bulls remain out of luxury-tax territory.

That also means about $8 million is left for the Bulls, who are still negotiating with Ben Gordon, to avoid flirting with projected luxury-tax figures for next summer. Reinsdorf has told agents he won't pay the prohibitive luxury tax for a non-championship team. Gordon is seeking a deal that is at least equal to Deng's. That's now impossible unless the Bulls enter luxury-tax territory.  If a long-term extension with Gordon isn't reached, a sign-and-trade scenario could develop or Gordon would play on his one-year tender of $6.4 million.

While I am happy that a deal has been reached with Luol Deng, I am disappointed that Ben Gordon will be short changed in the process. Ben Gordon has led the Chicago Bulls in scoring for 4 straight seasons. Gordon is the best shooter and scorer that this team has. To consider trading him could destroy the offensive chemistry of the Bulls.

Locking up Deng for 6 more seasons is a step in the right direction. Once the Gordon situation is resolved John Paxson should look to trim down the backcourt and attain some low post help. With Derrick Rose as the centerpiece, the Bulls have a very bright future.

Crazy Ron Ron has found a new home. The Sacramento Kings have traded Ron Artest to the Houston Rockets for former King Bobby Simmons, rookie Donte Greene, and a 2009 first round pick. The Rockets also are expected to acquire rookies Patrick Ewing Jr. and Sean Singletary in the deal to make the money match, but both have partially guaranteed contracts and are likely to be released. The Rockets will also send the Kings cash in excess of $1 million.

This is a great move by the Rockets. Artest is the missing piece to a team that has struggled to get out of the first round. Artest and Luis Scola provide the toughness that Yao Ming lacks. Having Shane Battier and Ron Artest on the same team may be redundant. Look for Houston to field offers for Battier before the trade deadline.

Tracy McGrady has no more excuses. He is an elite scorer, he has arguably the best center in the NBA on his team, and now he has crazy Ron Artest.

 The Charlotte Bobcats have agreed in principle on a six-year contract worth at least $72 million with restricted free agent Emeka Ofakor. Okafor averaged 13.7 points, 10.7 rebounds and 1.7 blocks last season in 33.2 minutes per game last season.

The New York Knickerbockers announced that a 2010 second-round draft choice, guard Taurean Green and guard/forward Bobby Jones have been acquired from Denver for forward Renaldo Balkman and cash considerations. Green and Jones were immediately waived.

In other eastern conference player movement, the Atlanta Hawks signed guard/forward Maurice Evans and forward/center Randolph Morris to contracts. The Philadelphia 76ers signed guards Kareem Rush and Royal Ivey further bettering their team. The Detroit Pistons signed the 2001 #1 pick Kwame Brown to a two year $8 million dollar contract.

Nets center Nenad Krstic has officially signed a two year contract with Triumph Moscow worth $9 million per year. Krstic joins Josh Childress, Bostjan Nachbar, Juan Carlos Navarro, Jorge Garbajosa, Carlos Delfino, and Primoz Brezec as NBA players who opted to play for more money overseas this year.

In the west the Warriors re-signed center Andris Biedrins to a six-year contract worth a guaranteed $54 million and potentially topping $62 million with incentives. The L.A. Clippers signed Heat guard Ricky Davis for two years, $4.7 million with an opt out clause for Davis after his first year.

 NBA referee Tim Donaghy was sentenced to 15 months in prison Tuesday after pleading guilty last year to taking thousands of dollars in payoffs from a professional gambler for inside betting tips. Donaghy's lawyer asked the judge for probation. He had faced up to 33 months in prison, but the judge gave him credit for his cooperation. Donaghy told the court, "I brought shame on myself and my family."

Donaghy pleaded guilty last August to conspiracy to engage in wire fraud and transmitting betting information through interstate commerce for taking payoffs from a professional gambler for inside tips on games. ast week, two of Donaghy's former high school classmates were sentenced to more than a year in prison for their roles in the scheme. James Battista, a professional gambler and admitted drug addict, got 15 months in prison for making bets based on inside tips. Thomas Martino, the scheme's middleman, was sentenced to a year and one day for paying the referee thousands of dollars for the tips. The three men attended school together in Springfield, Pa. The league had demanded nearly $1.4 million in restitution. But the judge last week set the restitution at $217,266, to be paid jointly by the three defendants.

Donaghy also was sentenced to a three-year term of supervised release, on the condition that he receive mental health treatment for his gambling addiction. Donaghy's defense attorney asked that Donaghy be sent to a federal prison camp in Florida, near his family.

The Golden State Warriors signed their 22-year-old restricted free agent Monta Ellis to a six-year, $67 million contract. Ellis is receiving one of the largest raises in NBA history. As the 40th player selected in the 2005 draft, Ellis was paid just $770,610 last season. He will earn $11 million in 2008-2009. The Warriors also matched the offer sheet given to Kelenna Azubuike by the Los Angeles Clippers.

The other L.A. team re-signed their backup guard Sasha Vujacic to a three-year, $15 million contract to remain in L.A. Staying in California the Kings signed Cal State guard Bobby Brown. Hornets forward Chris Anderson is returning to the Denver Nuggets where his NBA career began. The Minnesota Timberwolves reached terms on a new contract with restricted free agent Ryan Gomes and the Charlotte Bobcats re-signed restricted free agent center Ryan Hollins.

Bayless was named the T-Mobile NBA Summer League Top Rookie after averaging 29.8 points and 4.8 rebounds in four games in Las Vegas.