I say Part I because I assume that more trades will take place before the NBA trade deadline passes tomorrow afternoon…..

But just in the last week, we’ve seen:

- Toronto go from a team that was destined to be well over the cap this summer now become a team that, depending on what they do with Marion and Graham, could have some cap room to play with.

- Miami go from a team that many thought would make a bid for Carlos Boozer this summer to a team that sees Jermaine O’Neal as their primary big man for the next year and a half.

- New Orleans go from a team that was going to be a tax payer in 2009-10 to a team that will be just over the cap.

- Oklahoma City go from a team with a huge amount of cap space this summer to a team with a lot of draft picks and the MLE to help them round out their young team.

Thinking about some of the implications league-wide, you have to consider things like:

Does Miami's deal change Boozer's mind about opting out? If so, doesn't that probably make Milsap available? Before, Utah might have been contemplating letting Boozer go and keeping Milsap at a cheaper rate. But now.....

And OKC was set to be one of the biggest potential spenders this summer in the FA market. Does that give KP more ammunition not to make a trade? Since his 'competition' for FA players who would want more-than-MLE money has now become one less team?

Very interesting developments to say the least. And there’s more to come, I bet……