The Chicago Bulls didn’t win the big prize in this summer’s free agent sweepstakes, with LeBron James opting to sign with the Miami Heat. They’ve made some nice acquisitions despite that, however, and appear to be on the verge of signing well traveled shooting guard Tracy McGrady. McGrady is very receptive to joining the much improved Bulls, though there are a couple of contingencies that need to be worked out before a deal is finalized. ‘T-Mac’ has also met with the LA Clippers and Miami Heat, but a move to Chicago would likely be the best fit for all concerned.

Allen Iverson is one of the most high profile NBA free agents left on the market, and several teams have expressed interest in the dynamic guard. On Wednesday, Iverson sent a Twitter update indicating that the Memphis Grizzlies had made him an offer. Later that night, that information was confirmed by Memphis GM Chris Wallace.

Veteran point guard Jason Williams”nicknamed White Chocolate earlier in his career for his flamboyant play”is returning to the NBA after a season away from basketball. Williams announced that hes re-entering the league this season, and will do so in an Orlando Magic uniform.