Updated 5/14/2010: Click here for an updated list of the of the 2010 NBA Free Agent class - with a position-by-position breakdown

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Editors Note: The list (and preamble) below is outdated – as it was prepared in June of 2008.  For a complete, updated list of all free agents, please click the link above. 

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Let's start this piece off by comparing two NBA players.

Player A: At the age of 23, "Player A" had scored 5,762 points (connecting on a total of 24 three-pointers), grabbed 1,028 rebounds, and dished out 911 assists in his career to that point. 
He had won a total of one playoff game, never advancing past the first round. 

Player B: At the completion of his Age 23 season, "Player B" had tallied 10,689 points (including 510 three-pointers made), hauled in 2,694 rebounds, and racked up 2,572 assists. 
He had 26 career playoff wins under his belt, and had already carried his team to an NBA Finals appearance. 

'Player A' is Michael Jordan.

'Player B'?  That would be LeBron James.

First and foremost, it goes without saying (at least it should) that there will never be another MJ.  The list of over-hyped potential successors to His Airness' Throne, ranging from names like Harold Minor all the way up to O.J. Mayo, is humorous at this point.  (As an aside, hopefully all those "experts" that claimed Kobe was prepared to take up residence alongside Jordan's rarefied air will cease and desist with that nonsense.  Jordan was awarded the NBA Finals MVP trophy six times in his illustrious career – Kobe has yet to win one.) 

Now, just for a moment, imagine it was 1989 and each NBA franchise had an opportunity to steal away a 25-year-old Michael Jordan from Chicago and add him to their team, without having to trade a single player.  The only prerequisite required was enough salary-cap space to sign him.  Let that marinate for a minute…   

Again, LBJ can't, and shouldn't, be compared to MJ.  However, I think most basketball fans would agree that this LeBron James kid has a pretty bright future…

Mind you, Mike didn't win his first championship until he was 27.  But once he broke through in 1991, he strung together back-to-back three-peats.  And while LeBron's stats versus Jordan's are skewed because King James came into the league straight out of high school and had a two season head start on Mike, the numbers speak for themselves.  LeBron, arguably the most hyped athlete in the history of professional sports when he exploded on the scene back in 2003, has actually exceeded expectations – if that is even possible.  

Well, two years from now, LeBron James will be 25.  He will also likely become an unrestricted free-agent.  Yes, if LeBron elects to exercise the player-option on his current contract following the 2009-2010 season, every team in the NBA would have the opportunity to woo him. 

And that is why cap space in the Summer of 2010 (aka the Summer of LeBron) is considered the Holy Grail.  As soon as LeBron signed a truncated three-year extension, with an opt-out option, back in 2006, eyebrows were raised from coast-to-coast.  Immediately, fans in big markets like New York started dreaming the impossible dream.  Rumors related to kickers in LeBron's marketing deals started popping up everywhere.  The mere thought of having a slight shot at adding King James had fans giddy.

Then things got even more interesting as two of LeBron's contemporaries from the Draft Class of 2003 choose to sign similar contract extensions.  All of a sudden, Dwyane Wade and Chris Bosh were in the mix for a potential free-agent bonanza following the 2009-2010 season.  Remember, there was a time (following the 2006 NBA Finals) when some analysts believed  D Wade would have a better career than LeBron. 

Thus, NBA GM's across the country began planning for the future with a specific date in mind – July 1st, 2010.  As we get closer to this date of destiny, the urgency becomes more intense.       

And upon further inspection, it is certainly not just the trio from 2003 that has General Mangers salivating.  The list of veteran, superstar potential free-agents is mind-boggling. 

It is almost of a perfect storm of shortened extensions, expiring contracts, and Early Termination Options.  These convergent forces are lining up to create quite possibly the most extraordinary free-agent class in the history of the National Basketball Association.  This is not hyperbole or exaggeration.  This is real – take a look at the list below.

That said, it is important to note that so much can happen between now and then.  Over the course of two years, it is certainly possible that some of these names could sign extensions or choose not to exercise player options, etc.  These names are by no means set in stone.  Nonetheless, the sheer magnitude of exceptional players is astonishing.

So, let's break into a few categories.  First up, let's start with the stars whose contracts expire following the 2009-2010 season and will then become honest-to-goodness free agents:

Joe Johnson
Ray Allen
Manu Ginobili
Marcus Camby
Tracey McGrady
Shaquille O'Neal
Brad Miller
Stephen Jackson
Jermaine O'Neal
Mike Miller
Rip Hamilton

The next grouping is those players that are signed thru 2011, but can opt out in 2010 if they so choose:

Yao Ming (owed 17.7 million in 10/11)
Amare Stoudamire (owed 17.7 million in 10/11)
LeBron James (owed 17.2 million in 10/11)
Dwayne Wade (owed 17.0 million in 10/11)
Chris Bosh (owed 17.1 million in 10/11)
Dirk Nowitzki (owed $21.5 million in 10/11)
Josh Howard (owed $11.8 million in 10/11)
Mike Redd (owed $18.3 million in 10/11)
Tyson Chandler (owed $12.8 million in 10/11)

This next list consists of contracts that are set to expire in 2010, but the player may choose to opt-out following the 2008-2009 season:
Steve Nash (owed $13.1 million in 09-10)
Carlos Boozer (owed $12.7 million in 09-10)
Chris Paul (owed $6 million in 09-10 / almost certain to sign an extension before becoming unrestricted)
Memo Okur (owed $9.0 million in 09-10)
Hedo Turkoglu (owed $7.4 million in 09-10)

In addition to the superstars listed above, these 'second-tier' players are set to hit the open market as well:
Ben Wallace
Larry Hughes
Zydrunas Ilgauskas (option to opt-out after 09/10 season)
Anderson Varejao (option to opt-out after 09/10 season)
Al Harrington
Darko Milicic
Udonis Haslem
Jamal Crawford (option to opt-out after 09/10 season)
Eddy Curry (option to opt-out after 09/10 season)
Amir Johnson
Derek Fisher
Raja Bell
T.J. Ford (player option - owed $8.5 million in 10/11)
Travis Outlaw
Bruce Bowen
Earl Watson
Luke Ridnour
Matt Harpring
Quentin Richardson
Damien Wilkins

We also must include the list of players that will actually eventually have value due solely to the fact their contracts come off the books in the summer of 2010:
Jerome James (proof that Isiah Thomas knew what he was doing all along!)
Cuttino Mobley
Brendan Haywood
Tim Thomas
Brian Cardinal
Antonio Davis
Mark Blount
Bobby Simmons
Troy Hudson
Darius Miles
Kenny Thomas
Shareef Abdul-Rahim
Matt Bonner
Etan Thomas

Last, but not least, we have the 2006 Draft Class. These players will all be restricted free-agents in 2010, if they haven't already been inked to extensions:
Brandon Roy
Rudy Gay
LaMarcus Aldridge
Andrea Bargnani
Rajon Rondo
Tyrus Thomas
Kyle Lowry
Randy Foye
Marcus Williams
Josh Boone
Renaldo Balkman
Sergio Rodriguez
Ronnie Brewer

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So there you have it, from top to bottom.  The free-agent class that launched a thousand internet trade rumors. 

Be sure to check back later in the week when we take an in-depth look at the players with options and try to predict whether or not they will choose to become free-agents in 2010…