NBA Rumors and Free Agency News: Chris Paul trade to Lakers (or IS he??), some Bulls options off the board

[This thing is forever-changing, so some notes were added by yours truly -yfbb]

NBA Teams can begin signing free agents on Friday, but some players have reportedly already come to terms this week, as players met with teams. And the rumors are flying galore.

The salary cap will be $58.044 million, luxury tax line will be $70.307 million, and teams minimum payroll will be $46.435, Ken Berger tweeted. The Bulls are currently just under $65 million.

The big trade

[Since I've started writing this, news is breaking on Twitter over the deal hitting a snag and even declared dead, spurred on by other NBA owners who are questioning the NBA-owned Hornets on this.

There have been more pieces added to the original deal, including Goran Dragic and the Knicks 2012 first-rounder to New Orleans. Also a rumor that Emeka Okafor is headed to the Lakers. You know what's good for stuff like this? The SBNation StoryStream. Find confirmed updates there as this develops -ed.]

Adrian Wojnarowski is tweeting that the Hornets are "starting to inform teams" that they're sending Chris Paul to the Lakers in a three-way deal, including the Rockets. Pau Gasol to Houston, with Lamar Odom, Kevin Martin, and Luis Scola to L.A. Another tweet added the deal is "not finalized", but "close".

The Knicks and Celtics are reportedly trying to trade for the PG's expiring contract. The Warriors and Clippers are also reportedly interested, but Paul reportedly has expressed he won't sign an extension with the either of those two teams, so Stephen Curry and Eric Gordon has been pulled off the table in exchange -- effectively breaking the deal. The Celtics were reportedly attempting a three-way deal that includes the Pacers and already scheduling to bring Paul in for a physical.

Bulls' reported targets

Other confirmed signings and re-signings:

Rumors:

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