Hello, NBA fans! This will be a running log of the signings and trades taking place around the league now that these transactions can start being made official today. We’re going to lose our minds keeping track of this stuff throughout the day so that you don’t have to. You can check back with this post every half hour or so to see what’s crackin’, or you can stay informed through the Twitter feeds of chill bros like Trey, Skeets, Tas and myself — who you are undoubtedly already following as a discerning NBA aficionado.

6pm ET Update

76ers re-sign Thaddeus Young to five-year, $42 million deal
That’s a bit rich for my taste. Young is a productive, efficient scorer but he’s no great shakes as a rebounder or defender and he only started one game for the Sixers last night. Perhaps this deal is a sign they intend to move him into the starting lineup.

Pistons waive Richard Hamilton
This is not an amnesty waive, but a buy-out. A rejuvenated Rip Hamilton could be a very nice addition to a contending team. He’d be a great fit on the Bulls.

5pm ET Update

The Nets have offered NenĂª a four-year deal worth $60-65 million
I guess this is the Nets’ “Dwight Howard backup plan”. The Nuggets can offer NenĂª a fifth year, so I assume they’ll continue to be in the lead in this hunt.

Gary Forbes signs two-year deal with Raptors, with team option for third year
The Raptors add some more wing depth with the signing of the undrafted 26-year-old. Forbes is a streaky gunner who can put up a bunch of points but can also shoot his way off the court. Figures haven’t been announced, but we can safely assume the deal will be for close to the minimum.

4pm ET Update

Juwan Howard re-signs with Heat
Things are slowing down, as this was the only tidbit that leaked out in the last hour. Juwan is 38 years old and has already made $150 million in his career. He must really love this game, and he must really want a ring.

3pm ET Update

Magic waive Gilbert Arenas via amnesty rule
Sometimes news can be shocking even when it’s sort of expected. Sure, everybody knew this would be a good idea, but it’s not our $62 million he’ll be paid over his next three seasons. The bidding process on Arenas will have NBA fans sitting on the edge of their seats. Where do you see him ending up? I’ll just throw this team out there: Chicago.

Confirmed: Brandon Roy will retire
Trey posted about this earlier, but Ken Berger from CBS has confirmed it. This is a colossal bummer and a derailing of a probably Hall of Fame career.

Kings re-sign Marcus Thornton to five-year, $40 million deal
This might seem like a lot of money, but Thornton quietly had a monster third of a season after he was traded to the Kings in February: 21.3 PPG, 4.7 RPG, 3.4 APG and 1.7 SPG. Not too shabby for a guy drafted 43rd overall in the 2009 draft. Sacramento certainly has a lot of intriguing parts, now let’s see how they mesh.

Kings sign Chuck Hayes to four-year $21 million deal
That’s quite an eclectic group of big men the Kings have accumulated. Hayes is an excellent post defender, a fantastic offensive rebounder, and he’s not nearly as terrible a free throw shooter as he used to be. Solid pickup for Sac-town.

Catch up on the moves and shakes from earlier today, after the jump…

2pm ET Update

Knicks waive Chauncey Billups, sign Tyson Chandler to four-year, $60 million contract
The Knicks were 22nd in in the NBA in points allowed per 100 possessions last season, and this signing is obviously meant to address that weakness. With Chandler’s injury history, I’d say it’s highly likely this contract will haunt the Knicks in the not-too-distant future. As for Billups, his agent is reportedly telling teams not to bid for him unless he pre-approves them. Glad to see this whole Amnesty provision thing is working out.

Caron Butler signs three-year, $24 million deal with Clippers
This is a nice upgrade over Ryan Gomes at the starting three spot, but this seems like a lot of scratch for an injury-prone player who appears to be on the decline. The Clippers will be hoping he can match last season’s 43 percent shooting from beyond the arc, since they were 25th in three-point shooting accuracy last season.

Celtics sign-and-trade Glen Davis to Magic for Brandon Bass
Boston wins this trade easily. Bass is a quality backup big man who will undoubtedly get some starts when Kevin Garnett needs to rest. I’m not sure what Magic GM Otis Smith is thinking because Big Baby stinks now.

Pistons re-sign Tayshaun Prince for four years, $27 million and Jonas Jerebko to four years, $18 million
The Prince contract is easily the most inexplicable signing of this off-season, up to this point. I have no idea what Joe Dumars is attempting to accomplish in Detroit right now. Re-building: You’re doing it wrong.

James Jones re-signs with Heat for three years, around $4.5 million
Did you know that James Jones played the fifth-most minutes (1,549) on the Heat last season? An even more interesting fact: 287 of his 346 field goal attempts were from long range. OK, he’s a one-dimensional player, but his 42.9 percent accuracy from that range last season shows that he’s pretty good at that dimension.

Mario Chalmers will remain with Heat “until they don’t want him anymore”
Not exactly the best negotiating tactic there, Mario. Anyway, he’s the starting point guard on that squad at the moment.

Grant Hill signs a one-year, $6.5 million deal with the Suns
Since Hill is 39 years old, we can safely assume this will be his farewell tour.

Mike Dunleavy signs a two-year, $7.5 million deal with Bucks
While he seems like the type of journeyman player who might have played with five different teams already, the Bucks will only be Dunleavy’s third NBA franchise entering his 10th season. Aside from passing, Dunleavy doesn’t do anything particularly well, but he’s still a good value signing as a possible sixth man in Milwaukee.

Shannon Brown signs one-year, $3.5 million deal with Suns
This is a sneaky-good signing by the Suns. Brown can play both guard positions and he’s super-athletic. Plus, his contract preserves the buttload of cap space Phoenix currently has for the 2012 off-season.

Celtics trade second round pick to Bucks for Keyon Dooling
Keyon Dooling: The mayo-on-white sandwich of backup point guards.

Raptors trade conditional second round draft pick to Suns for Mikael Pietrus
The Suns get to dump Pietrus’ $5.3 million salary on the Raptors, and Pietrus’ contract expires after this season so the Raptors preserve their capspace for the 2012 off-season. Pietrus has been in a fairly steady decline over the past few seasons, but he’ll get minutes on the wing for a Raptors team that isn’t trying particularly hard to win games this season.

Eddy Curry signs with Heat, presumably for McDonald’s gift certificates
You already knew about this hilarious occurrence, but I just needed an excuse to post this cartoon, courtesy of I Go Hard Now (@IGOHARDNOW)