Ira Winderman

What happens when you sell your soul for something you ultimately can't have?

You wind up with more leftover cap space than perhaps is prudent to now spend.

And you are left to reflect on what you cast aside in order to cast into what ultimately proved to be unfriendly waters.

Yes, there was a winner in a LeBron James derby, but there also were five teams that traveled to the shores of Lake Erie last week to, well, fail — hook, line and sinker.

Chicago Bulls: Considering LeBron James, Dwyane Wade and Chris Bosh all shunned Chicago after going through extensive interviews, the sense is that the Bulls exited the process as the biggest losers.

In reality, Chicago emerged from a position of strength among James' final six suitors.

Carlos Boozer is a very good fit, a dynamic low-post presence who can finish with power at the rim, but also step out to hit the baseline jumper off the drive-and-dish game of Derrick Rose.

And Joakim Noah sets up as a wonderful complement to Boozer's game, with a focus on clearing up the garbage at the rim, crashing after Boozer attacks, and snaring the rebounds that elude Boozer's undersized reach.

And while the trade of Kirk Hinrich might prove to be a move the Bulls come to regret, there still are enough pieces in place to field a credible lineup.

It could be argued, in fact, that shy of the Celtics, and perhaps the Magic, the Bulls have one of the most complete lineups in the Eastern Conference.

If Tom Thibodeau comes close to living up to his reputation as defensive savant, then Chicago just may have wound up with two of the league's most significant additions of this offseason.

Video   LeBron James chooses Miami July 9, 2010: The Morning Joe panel discusses both LeBron James' choice to join the Miami Heat, and reactions to the way that he handled making the decision.

Emotionally, free agency proved draining for the Bulls.

But here they stand, with talent, depth and cap space.

No, this does not have the look of a loser.

New York Knicks: Few would debate the point that at this respective stage of their careers that Amare Stoudemire is better than David Lee. He is. How much better could be the key in deciding how much the Knicks made of this offseason.

The Knicks still have plenty of cap flexibility, including enough to re-sign Lee, and there is enough on the market to address the perimeter.

But Donnie Walsh is plenty savvy and won't just throw dollars around because he has them.

Instead, look for the Knicks to attack the trade market. Monta Ellis is one name that has come up, and New York clearly has to look for a fleet ballhandler who would maximize Stoudemire's ability to run the floor and play off the pick-and-roll game.

When he exited Phoenix, the assumption with Mike D'Antoni's system was that it could work with almost any lineup.

These past two seasons have proven otherwise.

An answer could be regrouping for 2011. But with Carmelo Anthony possibly coming off that market, that might prove to be needless time spent in idle.

Video   MVP heads to Miami July 9, 2010: After months of speculation, LeBron James makes "The Decision." NBC's Tom Costello reports from Miami.

No, Walsh will hit the trade market, perhaps find a way to unload Eddy Curry's contract. The Knicks now will have to work the game, after hoping pieces would fall into their lap.

New Jersey Nets: For the Nets, the exit strategy from this opening round of free agency was the one that Mikhail Prokhorov inherited.

At worst, there was the option of playing the waiting game before the expected arrival in Brooklyn after two seasons of biding time in Newark.

So the Nets went for Derrick Favors in the first round of the draft, instead of a more polished prospect. Now the developmental project can develop.

Instead of injecting all of the cap space into the current product, shorter and smaller contracts can be offered to short-timers. That, alone, could push the Nets ahead of the Knicks, which seems to be the entire goal at this stage.

The addition of Avery Johnson as coach will make the Nets better. Brook Lopez will continue to emerge. Devin Harris will get his confidence back. And don't sleep on the potential of Terrence Williams. The acquisition of Travis Outlaw also was a savvy one.

Now the search can become more deliberate for a replacement for retiring Rod Thorn. Instead of forcing a new general manager to adapt to a philosophy in place, he can set his own agenda, building toward Brooklyn.

The Nets entered the process with patience on their side. They still have it.

Cleveland Cavaliers: There is no soft-selling the worst-case scenario.

This is an entire roster designed around James' unique skill set.

Slideshow   Are you a witness? A look at the highs and lows of LeBron James' career. NBCSports.com

And, frankly, Byron Scott might not have been the best choice to lead a team now faced with an overwhelming rebuilding process.

Already Shaquille O'Neal is running for cover, finding his own way to remain in title contention elsewhere.

Soon, Delonte West will be cast aside, if only to take advantage of the partial guarantee in his contract.

As for Mo Williams and Antawn Jamison? The irony is they well could be dealt into the cap space of the other teams that were holding out for LeBron.

Then there are the complementary pieces brought in purely to complement James. Jamario Moon and Anthony Parker again stand where they stood in Toronto, players not nearly good enough to carry a team on their own, but players who may be forced into such positions.

Now the Cavaliers are without their best player (James), the coach with the best winning percentage in franchise history (Mike Brown) and one of the league's best front-office minds (Danny Ferry).

Slideshow   NBA free agent signings Check out where the top NBA free agents of 2010 have signed. more photos

Unless you enjoy 82 games of Anderson Varejao flopping, this is not a pretty picture for a team that had no Plan B.

Los Angeles Clippers: This was never about LeBron, but rather simply about having enough cap space to merit an interview. So now we at least know that executives by the names of Andy Roeser and Neil Olshey work for the Clippers, after they made a cursory, and brief, presentation in front of James in Cleveland.

The Clippers simply were not going to allow themselves to be set up for another snub, after having gone through the process with Kobe Bryant, during the Lakers guard's previous free agency.

Instead, there is money that can be spent wisely, or not, based on the cash-hoarding whims of owner Donald T. Sterling.

In some way, the Clippers already are getting their LeBron (OK, perhaps a bit of hyperbole here) with the unveiling of 2009 No. 1 overall selection Blake Griffin, who was sidelined his entire rookie season by knee trouble.

Then there are Baron Davis and Eric Gordon in the backcourt, Chris Kaman in the middle and Al-Farouq Aminu to mature at forward.

Should Sterling spend any of what he has stashed away on a wing who can create his own offense, challenging for a playoff spot stands within reason. For the Clippers, that long has come off as a good-enough result.

Also on NBCSports.com Beyond the Arc: No. 11 Mich. St. takes big step forward Chandler: Jeremy Lin was special even in 8th grade What NFC teams need this offseason  |  And AFC DeMarco: Dodgers could become a contender Follow us on Twitter: @NBCSports  |  And Facebook

Ira Winderman writes regularly for NBCSports.com and covers the Heat and the NBA for the South Florida Sun-Sentinel.