Here's a look at what went down in NBA Free Agency on Wedneday, July 5. 

The big story

The fallout from Gordon Haywood's decision to join the Boston Celtics continued Wednesday. The Celtics have to clear space for Hayward's contract, so Avery Bradley, Marcus Smart, and Jae Crowder are all reportedly on the trade block. Rumors surfaced that the Celtics could look to acquire Grizzlies center Marc Gasol in the future, but it's unknown what such a deal would look like, or if the Grizzlies would be at all interested. 

Meanwhile, the Jazz continue to struggle to formulate a backup plan. Their trade for Ricky Rubio became official, but that's of little solace since his acquisition was a key to Utah's effort to retain Hayward. They reportedly are engaged in sign-and-trade talks for the Celtics' Crowder, which would kill two birds with one stone. Crowder would fit a nice need for the Jazz and help them as they try and continue to make the playoffs after losing Hayward and George Hill. 

The other team left out after Hayward's decision, the Heat, began moving on, agreeing to a four-year, $52 million deal to re-sign Dion Waiters. Sensible money on a long-term contract is surprising for the Heat, who seem to really believe in this core. 

Winners and losers

Winner: Miami Heat. Waiters on less than $15 million a year is a steal. By comparison, the Blazers paid Evan Turner $18 million last summer. Waiters is ... confident, but he's also talented and has learned to contribute on a winning team. He doesn't dog it on defense and is a solid playmaker. He's a legitimately good player. 

Loser: Monta Ellis. Ellis was bought out by the Pacers and may have a hard time finding a fit. There's always a chance a contender takes a look, but he's a poor decision maker, is inefficient and will turn 32 at the start of next season. The Pacers weren't a great situation, and he gets his money, but he's still without a home late in the free agency.

Winner: Nick Young. Somehow, someway, Swaggy P once again gets pulled from a one-way ticket to the Guangdong Tigers and winds up with a warm-weather, big-market team. This time, he has a legitimate shot at a title. The Warriors came to terms with Young, setting him up to take advantage of his 3-point trigger finger and solid defense. The Warriors are taunting the league by taking damaged goods who drove their former teams insane (like JaVale McGee), and winning rings with them.

Loser: McGee. He reportedly has interest from the Clippers and is unlikely to go back to the Warriors. That's a downgrade and he may not have the same success on any team that can't absorb his JaVale-ness because they're just more talented than everyone else. 

Winner: The Warriors. It's disturbing that the league's best team, which lost one postseason game, is improving in the offseason, but here we are. The salary cap is doing nothing to slow these guys down. 

Best available sleepers

Here's a look some free agents who could have hidden value: 

  1. Jonathon Simmons: The Spurs forward is a skilled scorer, ball-handler, rebounder, and defender. 
  2. C.J. Miles: There's no reason why he should be unsigned. He's a great shooter and an underrated defender. 
  3. Ian Clark: Anyone who earned time with the Warriors should get more attention. 
  4. Vince Carter: It's Vince Carter. Everyone loves Vince Carter. 
  5. Mike Muscala: Stretch fours are valuable, and Muscala has upside and ability.