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.