NBA free agency is right around the corner as July 1st draws near and the big-name free agents like LeBron James, Dwyane Wade and Chris Bosh will officially become available to the highest bidder.

With the extremely talented free agent market almost upon us, the teams expected to make offers to these big-name NBA superstars are trying to clear as much cap space as possible. The one team that has made more moves than any other team recently in an effort to clear cap space is the Chicago Bulls.

The New Jersey Nets, Miami Heat and the New York Knicks are three other teams in the league that will have a lot of cap space to wheel and deal with this summer, but the Chicago Bulls may have cleared enough space to sign not just one big-name free agent, but two.

Hoops? World Cup? Bet On It! – Click Here NOW

The one player that the Chicago Bulls have their sights set on this summer is LeBron James. With promising young players on their squad like center Joakim Noah and All-Star point guard Derrick Rose, the Bulls have the right pieces of the puzzle to build around and with LeBron in the mix they would instantly be a title contender in many people’s opinion.

As of right now, the Cleveland Cavaliers are arguably the frontrunners to re-sign LeBron James this summer, but as July 1st draws near the chances of the Cavs bringing LeBron back to Cleveland seems to get worse and worse.

The Chicago Bulls on the other hand seem to keep improving their chances of signing the most desired free agent this summer and they continue to make moves in order to bring in some other big-name free agents to play alongside LeBron in Chicago.

One move the Bulls made recently to clear some more cap space for this summer’s free agent market was trading away defensive minded point guard Kirk Hinrich and the 17th overall pick in the NBA Draft to the Washington Wizards. The 17th overall pick in the draft turned out to be French power forward Kevin Seraphin who will now head to Washington instead of Chicago.

With the departure of Kirk Hinrich, the Chicago Bulls will have his contract off the books and much more cap room to deal with. Along with Hinrich off the books, the Bulls will also not have to pay the 17th overall pick Kevin Seraphin.

So with all this cap room this summer, the Chicago Bulls will give it their best shot to sign two big-name free agents come July 1st. LeBron James is the Bulls number one target and for good reason, but some other players mentioned as possible targets for Chicago are Chris Bosh, Amare Stoudemire, Dwyane Wade and Ray Allen.

It is uncertain what big-name free agents the Chicago Bulls will be able to sign this summer, but they will definitely be on the verge of seriously upgrading their roster this offseason and could be a force to be reckoned with in the Eastern Conference once again from here on out.