Earlier today, we learned that the Rockets are no longer the frontrunner for Marcus Camby as the big man isn't overly thrilled with the direction that the club seems to be going in.  While the veteran hopes to play for the here-and-now, Houston's moves this summer indicate that they plan on rebuilding.  Here's the latest on Camby and the Rockets..

• Camby will keep his visit with the Heat on Saturday and is not interested in signing for the veteran's minimum, meaning that he could only join Miami via sign-and-trade, tweets Chris Tomasson of FOX Sports Florida.  Tomasson also wonders if Shane Battier, a draft pick and cash entice the Rockets for Camby?
• A source tells Chris Tomasson of FOX Sports Florida (via Twitter) that Houston would consider a sign-and-trade with any team for Marcus Camby if they like what they could get back in return.  He adds that the Heat are in the mix.  Another source told Tomasson that the club could be enticed by a deal from the Heat involving draft picks and/or veterans who could mentor their young talent.
• Aaron Brooks and the Rockets have Rockets have mutual interest in a return, a source tells Jonathan Feigen of the Houston Chronicle (via Twitter), but a deal not close.  The outcome also won't hinge on the Jeremy Lin decision.
• The Rockets have "touched base" with Ramon Sessions and Raymond Felton, a source told Feigen (Twitter link) but it's unlikely that either guard signs with Houston.  Earlier this evening it was reported that the Rockets were in play for Sessions.

The Rockets are now in play for free agent guard Ramon Sessions, a source tells Jeff Caplan of ESPNDallas.com.  The 26-year-old is said to be seeking a starting job and the security of a multiyear deal, something that the Mavericks seem prepared to offer.  We ran down the day's free agent rumors earlier today, here's the latest batch..

• The Lakers have expressed interest in unrestricted free agent Jodie Meeks, sources close to the situation told Alex Kennedy of HoopsWorld (via Twitter).  Meeks became an unrestricted free agent when the 76ers decided not to give him the qualifying offer.
• Alonzo Gee's agent Andre Buck told Mary Schmitt Boyer of The Plain Dealer that he and his client are hopeful a deal can be done with the Cavs.  Cleveland extended the qualifying offer to Gee last week and reportedly will match any offer sheet extended to the 25-year-old.
• Bucks power forward Ersan Ilyasova might visit ‪the Cavaliers "sometime next week," agent Andy Miller told Bob Finnan of The News-Herald (via Twitter).  Miller added that the Cavs have legitimate interest.
• If the Hornets match Eric Gordon's offer sheet as expected, Sam Amick of Sports Illustrated (via Twitter) wouldn't be surprised if the Suns set their sights on free agent guard Lou Williams.
• The Pacers are weighing whether to put in a bid for Elton Brand, a league source tells Ken Berger of CBSSports.com (via Twitter).

Five days into free agency, a number of big names, such as Deron Williams, Kevin Garnett, Jason Kidd and Steve Nash, are off the market. But there are still plenty of players out there looking for contracts. We'll wrap up many of today's free agent updates right here, with the latest items added to the top of the page throughout the day....

• Antawn Jamison had dinner in Charlotte with Bobcats executives Rod Higgins and Rich Cho, writes Marc J. Spears of Yahoo! Sports (Twitter links). The former UNC star has also been talking to Warriors general manager Bob Myers, Jamison's former agent, and will chat with head coach Mark Jackson in the near future.
• The Mavericks have reached out to Ramon Sessions for a second time and pitched a starting job to the veteran point guard, writes Jeff Caplan of ESPNDallas.com. 
• Rashard Lewis will visit the Heat this weekend after having his contract bought out by the Hornets, reports David Aldridge of NBA.com (Twitter links). The Hawks and the Knicks are among other teams interested in the veteran forward. 

Earlier updates:

• The Timberwolves' offer to Nicolas Batum now exceeds $11MM per season, reports John Canzano of The Oregonian (on Twitter). The Trail Blazers told Batum during a meeting this afternoon that the team will match any offer the player receives, tweets Jason Quick of The Oregonian.
• Even with the addition of Jason Kidd and the likely retention of Jeremy Lin, the Knicks remain in the market for a third-string point guard, tweets Jared Zwerling of ESPNNewYork.com.
• The Lakers remain interested in retaining restricted free agent Devin Ebanks and will match any deal barring a huge offer, tweets Alex Kennedy of HoopsWorld.
• Andrei Kirilenko wants to return to the NBA, but "wants way too much money" and may end up staying in Russia, according to Steve Kyler of HoopsWorld (Twitter links). Kirilenko plans to make his decision by Aug. 1 on whether he will sign with an NBA team, says Jason Jones of The Sacramento Bee (on Twitter).
• Ric Bucher of ESPN.com names the Mavericks, Rockets, Pacers, Clippers, Knicks, and Suns as teams that still have a shot at O.J. Mayo (Twitter link). I'd guess the Clips are off that list after reaching deals with Jamal Crawford and Chauncey Billups.
• Bucher adds in the same tweet that the Mavs, Pacers, Spurs, Kings, and Jazz are in the running for Chris Kaman.
• Asked about the Pacers pursuing Courtney Lee or O.J. Mayo, Mike Wells of the Indianapolis Star tweeted that Mayo is Indiana's "clear No. 1 choice." Whether that means he's the team's top free agent target overall or just compared to Lee, it's clear that Mayo is very much on the Pacers' radar.
• Teams are offering Ryan Anderson frontloaded contracts to make it difficult for the Magic to retain him, tweets Alex Kennedy of HoopsWorld.
• Ramon Sessions has been contacted by several teams, including the Mavericks, but not the Knicks, according to Sam Amico of FOX Sports Ohio. A multiyear deal and a starting spot remain Sessions' top priorities, says Amico (Sulia and Twitter links).
• Matt Steinmetz of CSNBayArea.com names Jordan Hill, Kirk Hinrich, Antawn Jamison, and Shelden Williams as some players the Warriors have reached out to so far in free agency.
• According to Steinmetz, the Warriors may not match an offer sheet for Brandon Rush if it approaches $5MM. Steinmetz hears that the Raptors may be considering an offer for Rush, though given Toronto's agreement with Landry Fields, that would surprise me.

The Lakers made their first big splash of the 2012/13 season last night, agreeing to a sign-and trade deal to acquire Suns point guard Steve Nash. After news of the agreement broke, there was speculation that it might be just the first shoe to drop for the Lakers. However, Dave McMenamin of ESPNLosAngeles.com hears from a source that L.A. expects to keep its core intact, suggesting you shouldn't hold your breath for a trade involving Andrew Bynum or Pau Gasol (Twitter link). Here are a few more Thursday morning Lakers notes:

• The Lakers "expressed significant interest" in Michael Beasley before he agreed to sign with the Suns, tweets Alex Kennedy of HoopsWorld. According to Kennedy, the Lakers were seeking a sign-and-trade for Beasley -- I imagine they're probably happy with the guy they acquired via sign-and-trade instead.
• Of course, with Nash on board, Ramon Sessions won't be re-signing with the Lakers, tweets Kennedy, adding that the 26-year-old will look for a starting job elsewhere. The Mavericks are said to have interest in Sessions, according to Sam Amico of FOX Sports Ohio (Twitter link).
• Nash's contract will be for three years and $28MM, says Paul Coro of the Arizona Republic (via Twitter). That would mean the Suns and Lakers made full use of L.A.'s $8.9MM trade exception.

It's past midnight on the East Coast, and that means teams may negotiate with free agents from other clubs, as the NBA's offseason gets under way in earnest. Players can't officially sign contracts until July 11, and trades can't be made official until that date either. That doesn't mean there won't be plenty of talk and agreements in principle between now and then, and if this evening is any indication, we're in for a busy couple of weeks ahead. There are several bits of news rolling in on free agents as July begins, so we'll round up what we're hearing around the late-night rumor mill here.

• The Lakers are seeking a point guard in free agency, and in addition to reaching out to Ramon Sessions, they're also targeting veterans like Chauncey Billups, Jameer Nelson, and Kirk Hinrich, according to Dave McMenamin of ESPNLosAngeles.com.
• In search of a center, the Mavericks have shown some interest in Hasheem Thabeet and Joel Przybilla, says Jeff Caplan of ESPNDallas.com.
• The Cavaliers have expressed interest in Jonny Flynn, tweets Alex Kennedy of HoopsWorld. They're also eyeing Sonny Weems, according to Sam Amico of FOX Sports Ohio (Twitter link).

Earlier updates:

• The Mavericks are interested in Anthony Randolph, according to Jeff Caplan of ESPNDallas.com.
• Jamal Crawford was contacted by six teams tonight, with Alex Kennedy of HoopsWorld identifying the Celtics, Suns, 76ers, Timberwolves, and Clippers, while Chris Haynes of CSNNW.com says the Pacers were also in touch.
• Seven teams contacted Ian Mahinmi when free agency opened, but the Mavericks weren't one of them, says Jeff Caplan of ESPNDallas.com.
• The Kings have reached out to Terrence Williams, tweets Jason Jones of the Sacramento Bee.
• There are five or six teams ready to make Lou Williams a contract offer, tweets John Mitchell of the Philadelphia Inquirer.
• Lakers GM Mitch Kupchak has already called Ramon Sessions to open dialogue about a new contract, says Mike Bresnahan of the Los Angeles Times (via Twitter).
• Adrian Wojnarowski of Yahoo! Sports clarifies an earlier item on Omer Asik (linked below), tweeting that a Blazers contingent met with Asik tonight, but that GM Neil Olshey was meeting with another player.
• After his meeting with the Rockets tonight, Omer Asik will sit down with Blazers GM Neil Olshey, who plans to make him an offer, tweets Adrian Wojnarowski of Yahoo Sports. 
• Rockets free agent Goran Dragic wants to be the starter no matter where he winds up, Wojnarowski also tweets.
• The Clippers will talk with Nick Young, Randy Foye and Jamal Crawford, Broderick Turner of the Los Angeles Times tweets.
• Lakers unrestricted free agent Jordan Hill will meet with the Wolves on Monday, tweets Adrian Wojnarowski of Yahoo! Sports. 
• The Nets are committed to reaching a deal with Mirza Teletovic but are waiting to find out what happens with Deron Williams first, reports Stefan Bondy of the New York Daily News (Twitter link).
• Lakers GM Mitch Kupchak contacted Devin Ebanks via text message about re-signing him, tweets Mark Medina of the Los Angeles Times.
• Rockets GM Daryl Morey is meeting tonight with Bulls restricted free agent Omer Asik, and K.C. Johnson of the Chicago Tribune hears the Rockets are prepared to offer Asik a deal worth $8MM a year (Twitter link).
• The Mavs may have interest in Wolves unrestricted free agent Michael Beasley, tweets Ken Berger of CBSSports.com. 
• The Clippers had contact tonight with Chauncey Billups' representatives, writes Broderick Turner of the Los Angeles Times.

We keep hearing teams like the Mavericks, Nets, and Raptors named as potential suitors for Steve Nash, but if one of those teams misses out on both Nash and Deron Williams, its next target could be Jeremy Lin. Alex Kennedy of HoopsWorld hears from sources that one of those three clubs could sign Lin to an offer sheet, forcing the Knicks to match. Here are a few more free agent updates from Kennedy, with just over 12 hours left until the fun begins....

• The Hornets plan to match any offer sheet Eric Gordon signs. If he's going to leave, New Orleans would like to sign-and-trade him, but it's far more likely the club will just keep him.
• The Celtics, Timberwolves, Pacers, and Clippers are among the teams expected to pursue in O.J. Mayo. Another two guard, Jamal Crawford, could draw interest from those four teams as well. The Suns may also target Crawford.
• While the Rockets or Mavericks could go after Roy Hibbert, it's likely to be a waste of time, since the Pacers are ready to match any offers for the big man.
• League sources tell Kennedy that Grant Hill will consider taking a pay cut to sign with a contender.
• The decision to opt out of his contract was a difficult one for Ramon Sessions, who would still love to re-sign with the Lakers.

• Steve Kyler of HoopsWorld (via Twitter) clarified that the Lakers' traded player's exception (from the Lamar Odom deal) can only be used to acquire a free agent in a sign-and-trade, and not as a means of re-signing their own free agents. 
• Sam Amico of Fox Sports Ohio writes that the Hawks are looking to improve their draft position, and one GM said that the team has dangled Josh Smith and Marvin Williams as potential trading chips. Amico also adds that Jamal Crawford, Ray Allen, and Alonzo Gee are possible free agent targets for Atlanta. 
• According to an ESPN Chicago report, Derrick Rose's rehabilitation process appears to be going well, and the 23-year-old guard visited Dr. James Andrews in Alabama just to have him take a look at his surgically repaired knee. Dr. Andrews is a renowned surgeon and has worked on many athletes. 
• Nick Friedell of ESPN Chicago (Twitter link) believes that Bulls GM Gar Foreman has placed a high priority on keeping Omer Asik. 
• Stephen Brotherston of HoopsWorld explores what direction the Celtics should go at this point. Boston will have nearly $27 MM in cap space to work with this summer and will have a lot of questions to answer with regards to free agency. 
• David Scott of The Charlotte Observer gives a closer look at the background of Mike Dunlap, the newly hired head coach of the Bobcats. 
• Eddie Sefko of SportsDay DFW continued the countdown of top 10 free agents who could help the Mavericks, examining Chauncey Billups at number six. 

Lakers GM Mitch Kupchak held a conference call with team beat writers this evening to offer his thoughts on Ramon Sessions' decision to opt-out of the final year of his contract and other offseason topics. Among those present was Mike Trudell of Lakers.com, who tweeted that Kupchack's preference would have been for Sessions to pick up his player option for next year. As we mentioned earlier, the team still owns Ramon's bird rights and will not have to use their mid-level exception if they choose to re-sign him. Trudell released the full transcript of Kupchak's comments, and here are some highlights..

On Sessions' declining his option: 

"The fact that he would not extend (his option) clearly puts him in the position where he’s an unrestricted free agent on July 1. With all situations like that, both sides have to absorb some risk. I’m not quite sure if he’s completely aware of what the future holds for him beginning on July 1. Beginning today, we have to plan for the contingency that he won’t be available as a free agent at a later date in July. We have to make sure we have back up plans in place."

On the team's point guard situation: 

"I suppose we could look to fill that position between now and July 1 via a trade, or we can wait until July 1 and pursue Ramon, or perhaps another free agent, although we’re limited with the exceptions available to us. He did indicate that he was happy here in Los Angeles and that he would look to return. But once again, once the market comes into play, there’s no telling what will happen." 

On Ramon's performance since becoming a Laker: 

"I thought when he first got here he was very effective and I thought as we approached the playoffs and particularly the second round of the playoffs, he wasn’t as comfortable as he was at the beginning. Having gone through that many, many years ago, the playoffs are a completely different experience. The intensity level, the scrutiny, the awareness by the public. Typically you don’t see (young players succeed as much) under those conditions. I think he’d admit it wasn’t his best basketball. I look at our team, and not many of our players (played their best)."

On Sessions' market value: 

"You could have 8-10 teams that value him at a certain number, but maybe there’s another team that values him at a much higher number. We’ve been involved in situations like that in the past. We knew what his number was if he did extend. But it can work the other way too: the market might not be as good as he thinks it might be. But he’s a young, developing player who I think is going to get better."

On free agency: 

"There is always value. In terms of high profile names, I wouldn’t categorize this free agent class as one of the best ever, but there is always value out there depending upon how you define it. Whether it’s at the minimum, the mid-level or the mini-mid (level), there’s somebody out there every year that can play and help your club."

On last year's draft picks, Andrew Goudelock and Darius Morris: 

"(Goudelock) is on a 2-year deal, so we have no decision to make there. (Morris)– we have until June 30 to tender him a 1-year contract. If we do that, we retain his rights and we retain the right to negotiate with him beginning July 1."

Ramon Sessions will opt out of his contract with the Lakers and will hit unrestricted free agency this offseason, according to Mike Bresnahan of the Los Angeles Times (via Twitter). Sessions had one year remaining on his four-year deal, a player option worth about $4.55MM, but will be seeking a new contract this summer rather than picking up the option.

Given Sessions' postseason play, the Lakers' financial restrictions, and a strong crop of free agent point guards, there's no guarantee the point guard will sign a new multiyear deal with the team, though he said last month he'd like to stay in L.A. The Lakers will have Sessions' Bird rights, so they could re-sign him without using any of their mid-level exception. If they don't bring back Sessions, the Lakers will likely target a point guard on the trade market, or using their $3MM taxpayer MLE.

Sessions, meanwhile, figures to draw a decent amount of interest on the open market. The Mavericks, Heat, Hawks, and Magic are among the many playoff teams who could be seeking a point guard this summer.

The Lakers officially exercised their option on Andrew Bynum yesterday, locking him up for the final year of his contract. Bynum's isn't the first option decision of the year -- Beno Udrih has picked up his 2012/13 player option, while Dwight Howard famously waived his early termination option earlier in the season. Over the next few weeks, we'll hear about even more team, player, and early termination options, as teams prepare for the July free agency period. Listed below are a few key decisions to watch in the coming weeks....

• Deron Williams, Nets ($17.78MM player option): Okay, so there's no real drama here. But when Williams declines his player option, the biggest free agent of the 2012 market will be set to officially hit the open market.
• Lou Williams, 76ers ($5.35MM ETO): Williams is expected to exercise his early termination option, making him an unrestricted free agent. Steve Kyler of HoopsWorld reported last week that the Sixers guard may seek a deal similar to the five-year, $43MM contract Thaddeus Young signed a year ago. Will Philadelphia be willing to make that sort of offer, or will Williams sign elsewhere?
• Gerald Wallace, Nets ($9.5MM player option): Wallace turns 30 in July, so this summer may represent his best chance to sign one more big-money, long-term deal. Even if he doesn't match $9.5MM annually on a new deal, I expect him to take advantage of that opportunity and turn down this option in search of a multiyear contract.
• Brandon Bass, Celtics ($4.25MM player option): A solid contributor to the Celtics this season, Bass would certainly draw interest if he decides to opt out and test the open market. He has said he'd like to remain in Boston long-term, but opting out to renegotiate a new deal with the C's could complicate the team's offseason plans.
• Elton Brand, 76ers ($18.16MM ETO): For the 33-year-old Brand, waiving his ETO seems like a lock. The real question is what will happen after he picks up the final year of his contract -- the Sixers still have the amnesty clause at their disposal, and the opportunity to clear $18MM+ off their cap figure in a single stroke may be too tempting to pass up.
• Ramon Sessions, Lakers ($4.55MM player option): Before the postseason, it seemed like a sure thing that Sessions would opt out and negotiate a new contract with the Lakers. But following a poor playoff performance, Sessions' future is less clear. If he declines his option in search of a new deal, I don't think there's any guarantee he re-signs with the Lakers. It's still probably the likeliest scenario, but given the number of point guards available this summer, L.A. figures to explore all their options.
• J.R. Smith, Knicks ($2.44MM player option): If Smith turns down his player option, he almost certainly won't be a Knick next year, so his decision will come down to how much he enjoys playing in New York. Because there's little doubt that he could find a more lucrative contract as a free agent.
• Mo Williams, Clippers ($8.5MM player option): Long-term security seems important to Williams, but it's hard to imagine him turning down an $8.5MM guarantee for next season, since he's unlikely to find that in free agency. His decision will affect how much flexibility the Clips have to pursue other free agents this summer.
• Jameer Nelson, Magic ($8.6MM player option): Like the Clippers' Williams, he'll likely only opt out if he can renegotiate a new deal with his current club. However, I think that's a more probable option in Nelson's case. He has talked about not wanting to always be on the trade block, so I think he'd be willing to take a pay cut for next season if it meant being locked up for the next two or three.
• Jamal Crawford, Trail Blazers ($5.23MM player option): Marc J. Spears of Yahoo! Sports has reported that Crawford will decline his option, which makes sense. A team like the Clippers or Timberwolves that has been missing a viable two guard will likely make Crawford an attractive multiyear offer.
• Kelenna Azubuike, Mavericks ($993K team option): The money may not be significant, but with the Mavs trying to clear room to make a run at Deron Williams and other free agents, every million counts. Dallas signed Azubuike with an eye toward 2012/13, so it would be a little surprising if the team turned down its option, but it could be necessary if cap space gets tight.

Our complete list of outstanding team, player, and early termination options can be found here.