No division race is tighter than the Central, where the Bulls hold a half-game lead over the Pacers, while he Bucks sit three back in the loss column. Derrick Rose and Danny Granger will soon return to Chicago and Indiana, respectively, so we'll see how that affects the dynamics of the race. In the meantime, here's what's happening around the division:

• The Cavs are open to using their $4MM in cap space to absorb an otherwise unwanted player in exchange for a draft pick, but Jason Lloyd of the Akron Beacon Journal believes the team is done dealing this year. Signing Greg Oden is another possibility for that cap space, as Lloyd notes as he answers more questions from his Twitter followers.
• Cavs shooting guard Wayne Ellington, acquired in last week's trade with the Grizzlies, will be a restricted free agent this summer, and though he didn't address his future plans, he spoke to Jodie Valade of The Plain Dealer about his Charlotte connections and mentioned that he's best friends with Bobcats swingman Gerald Henderson, who's also set to hit restricted free agency.
• Sam Young demonstrated why the Pacers re-signed him this week with his defense against LeBron James and Dwyane Wade in last night's blowout of the Heat, observes Mike Wells of the Indianapolis Star. Wells writes that Young will have an impact the rest of the season, which suggests he isn't merely on a 10-day contract; when Young signed, the terms were unclear.
• MLive's David Mayo, in a pair of features, breaks down the impact that new starting point guard Jose Calderon will have on Detroit's rotation, and Matt Moore of CBSSports.com wonders why the Pistons aren't shopping Jonas Jerebko, who's struggled to find a role.
• Hunter Atkins of The New York Times looks at the rapid improvement of Larry Sanders, whom Atkins compares to Tyson Chandler. Sanders will be up for an extension on his rookie deal with the Bucks this summer.

The Pacers have officially re-signed Sam Young, the team announced today in a press release. Indiana had waived Young earlier in January after he sprained his ankle and before his contract could become guaranteed for the season.

Mike Wells of the Indianapolis Star reported (via Twitter) that the Pacers were expected to re-add Young to the roster to replace Dominic McGuire, whose second 10-day contract has expired. While Young takes McGuire's place as the team's 15th man, it's not clear whether the 27-year-old is back on a 10-day contract or rest-of-season deal.

Young was averaging 3.6 PPG and 2.9 RPG in 16.0 minutes per game earlier this season with the Pacers, before he went down with the ankle injury. Presumably, since the team is comfortable re-signing him at this point, Young's ankle has healed and he'll be available immediately.

Tonight's schedule includes a battle for Western Conference positioning between the Rockets and Jazz, Andrew Bogut's possible return to the court for the Warriors, and an opportunity for the Wizards to win their third straight game (and eighth of their last 11). As we look forward to the evening's slate of games, let's check out a few odds and ends from around the NBA....

• Dominic McGuire's second 10-day contract with the Pacers has expired, and the team has elected to let him go rather than sign him to a rest-of-season deal. According to Mike Wells of the Indianapolis Star (via Twitter), the Pacers will likely bring back Sam Young, though it's not clear whether he'll get a 10-day contract or a rest-of-season deal. Indiana released Young before his contract became guaranteed, and shortly after he suffered an ankle sprain.
• Agent Bill McCandless expects the Timberwolves to keep Mickael Gelabale for more than just one 10-day contract, as he tells Jorge Sierra of HoopsHype: "Based on my conversations with Timberwolves management, I understand that Minnesota is very likely to offer M.G. a second 10-day contract." (Twitter links).
• With Sacramento and Seattle potentially set to battle over the Kings, Neema Hodjat of RealGM.com makes a case for why the NBA should consider expansion as an alternative to relocation.
• We heard last week that Kris Joseph had signed a contract to play for Orleans in France, but David Pick of Sportando reports (via Twitter) that Joseph backed out of that deal for a possible D-League offer.
• A.J. Mitnick of Sheridan Hoops makes his early picks for the top 10 European prospects of the 2013 draft class.
• Tracy McGrady, Gilbert Arenas, and D.J. White are among the former NBA players in China whose CBA teams won't qualify for the postseason, according to Shaopeng Shen of Hupu.com (via Twitter). As such, those players would be free to return to the NBA sooner, assuming there's any interest.
• The Timberwolves received a disabled player exception worth about $381K for Malcolm Lee, tweets Eric Pincus of the Los Angeles Times and HoopsWorld. Considering how small that amount is, the team is unlikely to use the exception.

Things aren't getting any easier in Lakerland, where Dwight Howard, Pau Gasol, and Jordan Hill have all been sidelined with injuries. Howard suffered a torn labrum, Gasol has a concussion, and Hill is dealing with a hip issue, meaning the Lakers' frontcourt looks awfully thin in the short-term. While Robert Sacre looks forward to more playing time and we wait to see if the Lakers add another body, let's round up a few more notes out of the Western Conference....

• The Lakers haven't reached out to free agent big man Kenyon Martin, tweets Marc J. Spears of Yahoo! Sports.
• Sam Smith of Bulls.com wonder if the Lakers should consider trading Howard.
• The Rockets are prepared to chalk up 2012/13 as a lost season for Royce White and attempt to reach some sort of agreement with the rookie forward in the offseason, according to Jeff Zillgitt of USA Today. Zillgitt and TNT's David Aldridge have the latest details on White, including his desire for the NBA and the Rockets to sign a document detailing his wishes for the mental health protocol that the team believes would be in violation of the CBA.
• Despite recent comments by Dirk Nowitzki questioning the Mavericks' approach to building the roster, owner Mark Cuban tells Tim MacMahon of ESPNDallas.com that Dallas won't be altering that approach. "If you only knew the things [Dirk] has said to me during recent seasons about our team," Cuban joked. "I'm glad I didn't listen."
• Nowitzki stressed to reporters today, including Eddie Sefko of the Dallas Morning News, that he never said he wanted to be traded.
• The Timberwolves have kicked the tires on Sam Young, who was released by the Pacers this weekend, but he's unlikely to land in Minnesota, tweets Darren Wolfson of 1500 ESPN Twin Cities. Young is currently out with an ankle injury.
• It would be a surprise if the Timberwolves don't move Derrick Williams at the trade deadline, says Sam Amico of FOX Sports Ohio.

While the Pacers didn't necessarily want to cut Sam Young, a recent ankle injury that required several weeks of recovery coupled with the need for more help at the wing position had forced Indiana's hand, says Mike Wells of IndyStar.com. Wells also writes that the team will likely sign someone to a 10-day contract and thinks about Dominic McGuire as a possible fit. Lastly, he believes that guard Ben Hansbrough will remain on the team for the rest of the season. Here are a few more tidbits we've heard from the Central Division tonight: 

• Jodie Valade of The Plain Dealer looks at how Cavaliers big man Tristan Thompson has thrived during Anderson Varejao's absence. 
• K.C. Johnson of the Chicago Tribune (Subscribers only) primes his readers on the impact that sharpshooter Daequan Cook is ready to make with the Bulls. 

4:26pm: The Pacers have officially waived Young, according to Wells (via Twitter). 

1:48pm: The Indiana Pacers are expected to release Sam Young today, reports Mike Wells of the Indianapolis Star (via Twitter). Wells points out that Young suffered a severe ankle sprain that is expected to keep him out several weeks, just as teams are forced to make a decision on whether to guarantee nonguaranteed contracts.

Wells also reports that the Pacers are likely to sign another player to a 10-day contract for short-term wing help, which the team has needed since the injury to Danny Granger. Wells speculates that the team may look to sign forward Dominic McGuire, who was waived by the Hornets over the weekend.

The Pacers fell out of sole possession of first place in the Central Division tonight following their loss to the Celtics and the Bulls' win over the Heat. We rounded up the latest out of Chicago earlier this evening, and now we'll do so with the other team atop the Central, courtesy Mike Wells of the Indianapolis Star.

• Sam Young suffered a sprained ankle in practice yesterday that could cost him his job. The 6'6" swingman's minimum-salary contract is guaranteed for $25K, and it will become fully guaranteed if he doesn't clear waivers before Thursday. As Wells notes, the Pacers would have to waive him by Monday to avoid the full season tab, and they'll consider doing just that over the weekend when they receive further information on Young's injury. The prognosis at this point has Young missing two weeks.
• Courtney Lee, who signed a four-year, $21.35MM deal with the Celtics last summer, gave thought to signing with the Pacers instead, since he's an Indianapolis native and friends with George Hill. When the Pacers signed D.J. Augustin and Gerald Green, though, Lee knew it probably squeezed him out, and as Wells writes, Indiana was turned off by his agent's asking price. "It just didn't pan out right," the shooting guard said. "I was kind of laid-back with that situation. I wasn't really too much into it. I was trying to relax and take my mind off free agency as much as possible and have my agent handle things."
• Orlando Johnson, recalled today from the Fort Wayne Mad Ants, was supposed to have a longer stint in the D-League, but Young's injury forced the team to bring him back early to provide depth for the big club.

Here are a few notes from around the NBA's Central Division.

• Cavaliers head coach Byron Scott has told Dion Waiters—who Cleveland selected with the fourth overall pick in this year's draft—he will have to earn a spot in the team's starting rotation, reports FoxSportsOhio.com's Sam Amico. 
• NBA.com's Truman Reed believes that if the Bucks can replicate their defensive performance from two seasons ago, then combine it with their offensive output last year, they'll make the playoffs in 2012/13.
• Mark Montieth from Pacers.com writes that the newly acquired Sam Young could embrace a role on the team as a strong wing defender, especially with a player like LeBron James looming in the playoffs. 

The Magic were ripped by fans and pundits alike when they dealt Dwight Howard and failed to receive a true impact player like Andrew Bynum in the trade. However, as Mike Bianchi of the Orlando Sentinel writes today, the team's decision not to take on Bynum and his balky knees is looking better now than it did at the time. The former Laker, who has been ruled out for three weeks, may end up being fine, but it's something of an ominous start for the Bynum era in Philadelphia, says Bianchi. Here are the rest of the morning's notes out of the Eastern Conference:

• Former NBA head coach John Lucas believes the Nets' signing of Andray Blatche could be the "steal of the summer," as Howard Beck of the New York Times writes. Of course, Lucas may be a little biased -- Blatche spent three months this offseason working out in Houston under Lucas' tutelage.
• The Pacers are keeping an "open mind" about whether to carry 15 players into the regular season or whether to keep an open roster spot, according to GM Kevin Pritchard. Mike Wells of the Indianapolis Star says he would be "shocked" if Sam Young didn't earn a place on Indiana's roster.
• Ray Allen spoke on the Dan LeBatard Show in Miami about how Pat Riley influenced his decision to sign with the Heat, and Eric Schmoldt of Sports Radio Interviews has the transcript.
• Raymond Felton will get the first shot to start at point guard for the Knicks, and fellow free agent signee Jason Kidd doesn't mind assuming the backup role, writes Marc Berman of the New York Post.
• Steve Kyler of HoopsWorld (Sulia link) explains why the Magic re-signed Jameer Nelson this summer and looks at whether they'd consider trading him later in the season.
• The Bulls' bench may include plenty of new faces, but Taj Gibson doesn't want to retire the "bench mob" moniker. Adam L. Jahns of the Chicago Tribune writes that the team's new additions are looking to be just as productive as last year's second unit.

• Mike Wells of the Indianapolis Star examines the Pacers' final couple roster spots, predicting that Sam Young will earn one, while Blake Ahearn and Sundiata Gaines will compete for the other.
• After a forgettable 2011/12 season, Charlie Villanueva is fighting to bounce back for the Pistons this year, as Vince Goodwill of the Detroit News writes. Asked about the amnesty rumors that surrounded him in July, Villanueva admitted that it was hard not to notice: "It burns me up. It just drove me. Instead of being upset, I said, this will pass and I will let my game do the talking."
• Marko Jaric was in recently to work out with the Bulls, according to Aggrey Sam of CSNChicago.com (via Twitter). Jaric has seven years of NBA experience under his belt, but hasn't played in the league since 2008/09, with the Grizzlies.
• Jannero Pargo expects to finalize a deal within the next couple days, reports Shams Charania of RealGM.com (via Twitter). Charania adds that Pargo is "sticking around Chicago," but I would assume that's just where he's working out, rather than an indication he'll sign with the Bulls.