The Latest NBA Trades: The Good, The Bad, and the Very, Very Ugly Trades of 2014

The excitement over the NBA is heating up now that free agency is looming just around the corner.

With last night's draft came a slew of trades that will shake up what the rosters looked like last season, and will add new life to a lot of teams. And now, with free agency the priority, teams on the hunt for all-star caliber players are busying themselves by freeing up the necessary cap space.

The state of Texas may be hoping to reel in one of those record-breaking franchise marlins -- including Carmelo Anthony or LeBron James -- that are set to grace free agency.

Houston got things started by unloading Omer Asik, who went to the New Orleans Pelicans for a future first-round draft pick. The move will open up the cap space needed to sign one of the two franchise players available.

Asik had been asking to be traded since last season when the Rockets picked up Center Dwight Howard. Howard ate up most of the playing time, which meant the  former starter, Asik, became good friends with the bench.

Not to be outdone by their cross-state rival, the Dallas Mavericks got involved in a six-player deal with the New York Knicks. The Mavericks picked up Raymond Felton and Tyson Chandler, two of Melo's beloved former teammates.

The move  should add incentive for Melo to choose Dallas, although rather than clearing cap space they added two medium sized contracts.

Dallas's move was questionable at best, seeing as how Chandler is coming off an injury and is 32-years old. Felton just had the worst season in his career, plagued by injury and run-ins with the law.

In the Melo/James saga, another team has entered the playing field by making a draft day trade, which will keep their cap space to a minimum.

The Chicago Bulls traded their No. 16 and No. 19 draft picks to the Denver Nuggets for Forward Doug McDermott. McDermott will hopefully add an element of offense that the Bulls have been lacking without superstar Derrick Rose.

If the Bulls are able to get ride of Carlos Boozer, they will be in a prime position to make a big franchise-caliber deal. The Chicago Bulls are an ideal destination for most stars because of their market and history, along with the chance to play with former MVP Derrick Rose.

However, Rose has been injured for the past two seasons, so the NBA world will patiently wait and see if he is the Derrick Rose of old in the post-injury games.

Free agency starts July 1, and the fury of the NBA pre-season will be well underway. Look for vast amounts of shocking trades to materialize as NBA teams try to position themselves to contend for a championship.