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NBA Trades and Free Agents Update for 2016-17 Season: Wade to Bulls, Barbosa to Suns

Heat Franchise Player Wade Goes to the Chicago Bulls

Billions of dollars have already been spent for NBA free agency, but it's far from over. After perhaps the biggest surprise this year, Kevin Durant going to the Golden State Warriors, there are other surprising moves that have significant impact on the league.

Here are some of the latest updates:

1. Dwyane Wade goes to Chicago Bulls

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This is the biggest and probably holds the highest shock value after Kevin Durant's decision to join the Golden State Warriors. Dwyane Wade has agreed to a two-year, $47-million contract according to ESPN.

After 13 years with the Heat, the 34-year-old Wade decided to leave Miami after edgy negotiations with Pat Riley. Initial reactions were a bit on the negative side. For one, Miami loses its franchise star and basically gets nothing in return. For the other, Chicago gets a player who is way past his prime, albeit being a future Hall of Famer.

Wade's decision to leave Miami was based on the fact that despite his legacy, he didn't get the kind of treatment Kobe Bryant got with the Los Angeles Lakers in terms of financial considerations. The Heat management didn't match bigger offers from other teams, and Wade eventually chose to go to the Bulls; a team that didn't exactly give him max contract, but is a big market one nonetheless. Plus, Wade gets to go back to his hometown.

2. Tyler Johnson signs $50 million offer to Nets, Heat must match in 3 days

After Wade's departure, the Heat have shown interest in signing restricted free agent Tyler Johnson. Johnson, a sophomore in the league, averaged 8.7 points, 3.0 rebounds and 2.2 assists per game.

Johnson signed a $50 million offer sheet for the Nets, and it is now up to Riley and the rest of the Heat management to match that offer. Johnson's mother, overwhelmed with emotion, said, "We're very humble and he was pretty emotional, feeling pretty sick."

Logan Johnson, Tyler's 16-year old brother, had this to share: "I just balled up and cried. It was happy tears. He definitely deserved that. He earned every single bit of it. I'm still shocked."

3. Leandro Barbosa signs deal to play for Phoenix Suns

Leandro Barbosa goes back to his old team, the Phoenix Suns, agreeing to a two-year, $8-million deal. In a tweet, Barbosa thanked the Golden State organization and fans, saying, "Playing for the Warriors was an honor and I will forever cherish my two years here with my teammates, coaches, front office members, ownership, and, of course, the fans."

Barbosa comes home to Phoenix, where his first seven seasons in the NBA were played. During the NBA season 2006-07, his Suns team made it to the Western Conference Finals. That roster included Barbosa, Raja Bell, Boris Diaw, Shawn Marion, Steve Nash, and Amare Stoudemire, among others.

Last season, Barbosa played 68 games and averaged 6.4 points and 1.2 assists. He showed hints of his former vigor during the finals. In particular, he scored 11 crucial points in Game 1 against the Cleveland Cavaliers.

4. Other 2016 NBA free agency and trade moves

Other notable and recent moves in the league include the following: Richard Jefferson returns to the Cavaliers. Mike Dunleavy is also going to the Cavs in a cap room clearance move by the Bulls. Jose Calderon goes to the Lakers from the Bulls.

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