After weeks of speculation and rumors regarding where Dwight Howard would end up, it seems we’ll have to wait a bit longer for the answer. Talks between the Orlando Magic and Brooklyn Nets completely fell through Wednesday after attempts at negotiating a three-team or four-team trade proved unsuccessful. There were numerous combinations of trades involving the Cleveland Cavaliers, Los Angeles Clippers and possibly the Charlotte Bobcats, but the teams couldn’t satisfy all the involved parties. Now negotiations with the Lakers and Rockets have begun, meaning that Howard could end up in Los Angeles with Kobe Byrant and Steve Nash or in Houston. The Magic are interested in receiving Andrew Bynum from the Lakers in this scenario, but Bynum has guaranteed he would sign an extension with Orlando after a year there. Houston would also like to land Bynum if they are unable to win the grand prize in Howard but for now, it seems as if the Nets are the biggest losers here. The Nets resigned Deron Williams and Gerald Wallace while acquiring Joe Johnson from the Hawks (who signed Philadelphia’s Lou Williams to a multi-year deal two days ago), but couldn’t form a formidable big three with Superman. That meant they had to settle for Brook Lopez, offering him a ridiculous four-year, $60 million contract. They also agreed to a one-year deal with Jerry Stackhouse worth just over $1 million to “strengthen” their bench. The Magic are also not looking too good as the Dwightmare continues, especially after trading Ryan Anderson to the New Orleans Hornets for Gustavo Ayon. Anderson was a restricted free agent and the Hornets were looking to sign him, but trade talks commenced once the Magic made it clear they would not be matching offers for Anderson. This freed up some money for Orlando and although Ayon is not exactly a quality pickup, at least they were able to get something out of the deal.

There’s also some notable activity in Golden State, who acquired Jarrett Jack in a three-team trade. The Warriors sent Dorrell Wright to the Phildelphia 76ers and received Jack. The Sixers also got Darryl Watkins from New Orleans while the Hornets received the Sixers’ draft rights to Bosnian guard Edin Bavcic. The move clears salary space for the Hornets, who will be matching the Suns’ offer for Eric Gordon.

After stating their intent to offer Roy Hibbert a max contract, the Trail Blazers backed down upon hearing that the Indiana Pacers would match Portland’s offer. In the end, the Blazers didn’t even bother making the offer and the Pacers kept their All-Star center.

Finally, Ray Allen and Rashard Lewis officially signed with the Miami Heat. Allen and the Heat agreed to a two-year deal worth $6 million and Lewis signed a contract worth $2.6 million over two years.

The Nets might be looking to make big moves in Brooklyn, but the Knicks are quietly trying to retain the same lineup that hasn’t really seen much time on the floor together. Steve Novak signed a four-year deal worth $15 million and JR Smith agreed to a two-year contract worth just under $3 million. New York also acquired aging veteran Marcus Camby in a trade that sent Toney Douglas, Josh Harrelson, Jerome Jordan and two future second-round picks to the Rockets. It seems the Knicks overpaid to get a backup center to Tyson Chandler, but ultimately didn’t give up any major assets. Finally, the Knicks are set to match Houston’s offer to breakout star Jeremy Lin, an offer just under $30 million.

The Blazers might have given up on Roy Hibbert, but are still making some minor moves. They signed J.J. Hickson to a one-year deal, although the amount was undisclosed. The Timberwolves signed Russian guard Alexey Shved, although details of the deal were unknown because it has not been officially announced. Currently, the Timberwolves and Blazers are engaged in trade talks regarding Nicolas Batum and the possibility of sending him to Minnesota. The Wolves were set to make an offer for Batum but the Blazers said they would match any offer, leading to talks about a sign and trade.

Kirk Hinrich verbally agreed to a two-year deal with the Bulls on Sunday, sending him back to his old team in Chicago. The deal is supposedly worth around $3 million a year. Meanwhile, free agent Courtney Lee is being courted by Boston Celtics, along with an alleged seven other teams. The Celtics would have to execute a sign and trade with Houston to land Lee, however, due to their limited remaining cap space. The Suns, Timberwolves, Pacers, Hawks, Mavericks and Bulls are all also interested in Lee.

Some recent minor resigns include the Spurs resigning Tim Duncan to a three-year deal worth $36 million according to Yahoo! Sports. They also resigned Danny Green for a three-year deal worth $11 million and Boris Diaw to a two-year, $9 million deal. However, the big winner of this week so far (other than the ridiculously overpaid Brook Lopez) is Blake Griffin, who signed a five-year, $95 million deal with the Clippers.

The Dallas Mavericks tried to turn around their unfortunate free agency period by signing Chris Kaman to a one-year, $8 million deal. They also acquired Darren Collison and Dahntay Jones in a trade with Indiana in exchange for Ian Mahinmi.

More minor resigns include the Lakers and Devin Ebanks, who agreed to a one-year deal worth just over $1 million. The Grizzlies also agreed to a two-year deal with free agent Jerryd Bayless as they prepare for O.J. Mayo to leave.

That’s all for now but check back on Saturday for another NBA free agency update!