The NBA's amnesty era is under way.
Taking advantage of the league's new get-out-of-a-contract card, the Orlando Magic waived Gilbert Arenas and the $62 million he was owed over the next three seasons as one of the very first moves after the lockout formally ended, and the New York Knicks were preparing to use the clause on Chauncey Billups - a precursor to adding Tyson Chandler as a free agent from the champion Dallas Mavericks.
There was Dwight Howard trade talk, widespread reaction over the NBA's decision to reject a proposed trade of Chris Paul to the Los Angeles Lakers, and dozens of moves in short order as teams worked briskly to start filling their rosters for a rapidly approaching season.
And finally, rookies could become, well, rookies. Kyrie Irving, the No. 1 pick this year, signed with the Cleveland Cavaliers, as did No. 4 pick Tristan Thompson. In Minnesota, No. 2 pick Derrick Williams practiced with the expectation his deal would be signed no later than Saturday, and Utah signed, among others, No. 3 pick Enes Kanter.
The biggest news was likely yet to come, and New York was in the epicenter of speculation.
Chandler was on his way to New York, though was not yet a member of the Knicks. A person with knowledge of the Knicks' plans told AP that the team is planning to use the amnesty clause to waive Billups and possibly make other moves before having the ability to free up space for Chandler and what could be a $58 million deal over four years.
Howard showed up for the start of Magic camp, amid reports that he was seeking a trade to New Jersey. Orlando was close to making one trade, working on finalizing a deal to acquire Glen Davis from the Boston Celtics for Brandon Bass. "Baby was terrific for us. He was," Celtics coach Doc Rivers said about Davis. "It will be different. . . . I wish him well."
The Magic made a slew of other moves, including the signings of veteran guard Larry Hughes and former Boston draft pick Gabe Pruitt.
Boston finalized its trade with Milwaukee, acquiring guard Keyon Dooling and a protected 2012 second-round draft pick from the Bucks. The move helps Milwaukee clear salary cap space. The Bucks also get the rights to forward/center Albert Miralles.
A day after the Paul trade fell apart, it seemed the all-star could be soon on the move. "Everything is on the table," Hornets general manager Dell Demps said.
In Phoenix, a person with knowledge of the deal told the AP that Grant Hill is returning to the Suns on a $6.5 million, one-year deal, and later, the team announced that Vince Carter was waived. The Suns also added guards Shannon Brown and Sebastian Telfair, who tweeted a picture of his new jersey and said, "I'm back. Thank god!!!! So blessed."
In Miami, point guard Mario Chalmers was smiling as he signed a new deal that could be worth up to $12 million over three years, swingman James Jones and forward Juwan Howard agreed to new contracts and center Eddy Curry - who has played in 10 games over the last three years - arrived to formally join the East champions as well.
In Portland, the news of the day was grim. The Blazers were told guard Brandon Roy will not play this season because of knee problems.
A person familiar with the decision said the Sacramento Kings agreed to a $21.3 million, four-year deal with free agent center Chuck Hayes. The team also re-signed free agent guard Marcus Thornton for $31 million over four years. Thornton averaged 21.3 points in 27 games with the Kings last season after getting traded from New Orleans. Also, the Kings completed the signing of No. 10 pick and former BYU star Jimmer Fredette.
For San Antonio, T.J. Ford was on the training camp roster, as was Richard Jefferson, who's widely believed to be an another amnesty candidate. The Los Angeles Clippers completed the signing of Caron Butler for a reported $24 million, three-year contract.
The Lakers signed sharpshooter Jason Kapono, a two-time winner of the league's three-point shootout contest at all-star weekend. Another former three-point shootout champ, Daequan Cook, agreed to terms on a two-year deal to stay with Oklahoma City.
Detroit re-signed Tayshaun Prince to what was expected to be a $27 million, four-year contract, and are set to part ways with Richard Hamilton.