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Hornets ink Marvin Williams to two-year deal


by Igor Mello | CBSSports.com
(9:45 pm ET) Free agent forward Marvin Williams has agreed to a two-year, $14 million contract with the Hornets, according to ESPN on Saturday. Williams averaged 9.1 points, 5.1 rebounds and 1.2 assists in 66 games for the Jazz.

LeBron James signs two-year deal with Cavaliers


by Chris Towers | CBSSports.com
(6:20 pm ET) If LeBron James agreeing to join the Cavaliers Friday came as a surprise, the contract his signed Saturday is just as surprising.

James has signed a deal for just two years with the Cavaliers according to ESPN.com, an it also includes an opt-out after the first season. He will be paid $42.1 million over the course of the deal, and he plans to re-sign following the 2015-16 season. The league's new television contract is expected to kick in for the 2016-17 season, raising the value of the salary cap -- and the maximum contract value as well.


Pau Gasol announces signing with Bulls


by Chris Towers | CBSSports.com
(6:06 pm ET) Free agent center Pau Gasol announced he is signing with the Bulls Saturday, confirming multiple reports that he was leaning that that way.

Yahoo.com reported the Bulls were working on a sign-and-trade with the Lakers for Gasol, but that deal fell through, limiting how much the Bulls can offer. Gasol will sign a mulit-year deal with a starting salary of approximately $6.5 million according to report, though exact details are not yet known.

Gasol played in 60 games last season, averaging 17.4 points, 9.7 rebounds and 3.4 assists per game. 


Trevor Ariza signs four-year deal with Rockets


by Chris Towers | CBSSports.com
(6:01 pm ET) Free agent forward Trevor Ariza is repeating history, as he opted to sign as a free agent with the Rockets for the second time in his career, as first reported by USA Today.

Ariza has agreed to a four-year deal worth $32 million, with Yahoo.com reporting he will have a declining salary in each year, starting at $8.6 million in 2014-15.

Ariza put together one of the finest seasons of his career last year, averaging 14.4 points, 6.2 rebounds and 2.5 assists per game for the Wizards. He also shot a career-best 40.7 percent from three-point range, after posting a career-best 36.4 percent mark the previous season. 


Cavs send Alonzo Gee to New Orleans


by Chris Towers | CBSSports.com
(2:54 pm ET) The Cavaliers completed a trade sending forward Alonzo Gee to the Pelicans Saturday, in exchange for a second-round pick.  

Gee is expected to either be traded or waived by the Pelicans in the coming days, thanks to his $3.2 million unguaranteed contract for next season, according to The Times-Picayune. 


Hornets, Cavaliers announce minor move


by Chris Towers | CBSSports.com
(2:41 pm ET) The Cavaliers acquired center Brendan Haywood and the draft rights to Dwight Powell from the Hornets for guard Scotty Hopson, the team announced Saturday.

Haywood did not play at all for the Bobcats last year.  


Anthony Morrow signs for three years in Oklahoma City


by Chris Towers | CBSSports.com
(2:15 pm ET) The Thunder have added free-agent guard Anthony Morrow on a three-year deal, The Oklahoman reports Saturday.

Morrow's deal is reportedly worth $10 million with a team option for the third year. He averaged 8.4 points and 1.8 rebounds per game in 76 appearances for the Pelicans last season, and is a career 42.8 percent three-point shooter. 


Carmelo Anthony returning to Knicks


by Chris Towers | CBSSports.com
(2:04 pm ET) Free agent forward Carmelo Anthony has decided to re-sign with the Knicks, CBSSports.com NBA Insider Ken Berger was able to confirm Saturday.

Exact details on the contract are not yet known, but Anthony is expected to sign a five-year max contract which could pay him $129.5 million total. That deal would begin with $22.5 million in 2014-15.

Anthony missed the playoffs with the Knicks last season for the first time in his career, but still averaged 27.4 points, 8.1 rebounds and 3.1 assists per game. 


Vince Carter signs three-year deal with Grizzlies


by Chris Towers | CBSSports.com
(12:15 pm ET) Free agent guard Vince Carter is jumping from one Western Conference playoff team to another, after he agreed to terms on a three-year deal with the Grizzlies Friday.

According to multiple media reports, Carter will sign a three-year deal worth $12.2 million with the Grizzlies. ESPN.com reports the Mavericks offered Carter a two-year deal worth $8 million to return, but could not officially make that offer with their cap space tied up in other offers.

Carter had a solid age-37 season, averaging 11.9 points, 3.5 rebounds and 2.6 assists in 24.4 minutes per game. 


Hawks add Kent Bazemore on two-year deal


by Chris Towers | CBSSports.com
(11:54 am ET) The Hawks added depth on the wings Friday, with the addition of free agent guard Kent Bazemore on a two-year deal.

Bazemore will reportedly sign for a $4 million over two years, choosing the Hawks over expressed interest from numerous teams. Bazemore finally broke into an NBA rotation last season following a trade from the Warriors to the Lakers, as he averaged 13.1 points, 3.3 rebounds and 3.1 assists in his final 23 games before his season ended with a foot injury.  


Shaun Livingston dealing with offseason toe injury


by Chris Towers | CBSSports.com
(11:49 am ET) Warriors guard Shaun Livingston will spend part of his offseason recovering from an injury, as reported by the Bay Area News Group.

Livingston suffered a sprained right big toe during his playoff run with the Nets, and has been put in a cast to immobilize the toe. He will wear the cast 3-to-4 weeks before being re-evaluated, but at this point there is no reason to think this injury will impact him when the season begins in five months.

Livingston signed a three-year deal with the Warriors at the start of free agency, likely to serve as the team's backup point guard. He averaged 8.3 points, 3.2 assists and 3.2 rebounds while appearing in a career-high 76 games last season.  


Jazz match Hornets' offer sheet for Gordon Hayward


by Chris Towers | CBSSports.com
(11:49 am ET) The Jazz officially matched the offer sheet Charlotte signed forward Gordon Hayward to Saturday, according to Yahoo.com.

Hayward, a restricted free agent, signed a four-year deal worth $63 million with the Hornets, but the Jazz exercised their right to match the deal. He is coming off a career-best season, and returns to the site of his first four NBA seasons.

Hayward averaged 16.2 points, 5.1 rebounds and 5.2 assists per game with the Jazz last season, while started all 77 of the games he appeared in.  


Knicks waive veteran Lamar Odom


by Igor Mello | CBSSports.com
(7/11/2014) The Knicks have parted ways with veteran forward Lamar Odom on Friday, according to a team statement from Phil Jackson.

"Unfortunately, Lamar was unable to uphold the standards to return as an NBA player. We found it necessary to free up the roster spot," Jackson said.

Suns, Kings complete sign-and-trade for Isaiah Thomas


by Igor Mello | CBSSports.com
(7/11/2014) The Suns and Kings have finalized a sign-and-trade deal on a four-year, $27M contract for restricted free agent Isaiah Thomas, Adrian Wojnarowski of Yahoo! Sports reports Friday.

The former 60th overall pick in the 2011 NBA Draft will be heading to Phoenix, while Sacramento will receive a $7 million trade exception and the rights to forward Alex Oriakhi, the 57th overall pick in 2013, according to Brian Windhorst of ESPN.

Thomas averaged career-highs of 20.3 points and 6.3 assists last season for the Kings. He is expected to serve as an ideal third guard to complement Eric Bledsoe and Goran Dragic in Phoenix, according to CBSSports.com NBA Insider Ken Berger.


Jordan Hill signs two-year deal with Lakers


by Igor Mello | CBSSports.com
(7/11/2014) Free agent forward Jordan Hill signed a two-year, $18 million contract to stay with the Lakers, Adrian Wojnarowski of Yahoo! Sports reports Friday. The deal will give the Lakers a team option in the second year of the contract. Hill averaged 9.7 points, 7.4 rebounds and 0.9 blocks per game over 72 games last season. 

Chris Bosh opts to return to Miami for five years


by Chris Towers | CBSSports.com
(7/11/2014) Though they lost the biggest member of the Big 3, the Heat won't come away from free agency empty-handed.

Yahoo.com reports Friday the Heat have agreed to terms on a five-year deal with center Chris Bosh, who had reportedly been considered a max offer from the Rockets. Bosh will reportedly be paid $118 million over the life of the deal, after joining Dwyane Wade and LeBron James in opting out of their respective deals earlier in free-agency.

Bosh averaged just 16.2 points and 6.6 rebounds per game in his least productive season since he was a rookie, but will likely see a bigger role moving forward following James' decision to sign in Cleveland.


Nick Young gets four years from the Lakers


by Chris Towers | CBSSports.com
(7/11/2014) The Lakers have agreed to a deal to keep guard Nick Young around, according to ESPN.com Friday.

Young put together a career-best season while working on a minimum-salary deal with the Lakers, and he will be rewarded handsomely for it. CBSSports.com NBA Insider Ken Berger reports the deal will pay Young $21.5 million over four years, with the fourth year a player option.

Young averaged 17.9 points, 2.6 rebounds and 1.5 assists per game in 64 appearances for the Lakers last season. 


John Salmons waived for cap savings


by Chris Towers | CBSSports.com
(7/11/2014) The Hawks officially waived forward John Salmons Friday, after acquiring him in a cap-clearing move at the draft.

Salmons was due a $7 million salary for 2014-15 season, but the Hawks were able to waive him while paying just $1 million of that. He averaged just 5.2 points, 2.1 rebounds and 1.9 assists in 78 games for the Raptors and Kings last season.  


Report: Rockets shipping Jeremy Lin to Lakers


by Joe Polito | CBSSports.com
(7/11/2014) In an effort to clear cap space, the Rockets are working to finalize a deal that would send guard Jeremy Lin to Los Angeles. The Lakers would also receive a future first-round pick and other draft considerations but won't take on any salary in return, Yahoo Sports reports.

Lin averaged 12.5 points and 4.5 assists per game in what was mostly a sixth man role for Houston. He'll likely get to start in Los Angeles. Meanwhile, the Rockets cleared space in the hopes of adding free agent Chris Bosh on a max deal. 


LeBron James announces return to Cleveland


by Chris Towers | CBSSports.com
(7/11/2014) Free agent forward LeBron James is returning to the Cleveland Cavaliers, the star announced via Sports Illustrated Friday.

James, who spurned Cleveland for Miami four years ago, opted out of his deal with the Heat following a loss to the Spurs in the NBA Finals. Details of the contract are not known as of now, as James announced his decision in a personal letter on SportsIllustrated.com.

James ended up finishing second in the MVP voting last season after winning the previous two. He joins Cleveland after shooting a career-high 56.7 percent from the field, while averaging 27.1 points, 6.9 rebounds and 6.3 assists per game in 77 appearances for the Heat in 2013-14. 


Report: Suns, P.J. Tucker agree to three-year deal


by Igor Mello | CBSSports.com
(7/10/2014) The Arizona Republic reports that the Suns have reached a three-year, $16.5 million agreement to re-sign forward P.J. Tucker with Phoenix. Tucker, 29, posted averages of 9.4 points and 6.5 rebounds while shooting 38.7 percent from downtown in 81 games last season. 

Steve Blake signs with the Trailblazers


by Joe Polito | CBSSports.com
(7/10/2014) Veteran point guard Steve Blake inked a two-year deal with the Portland Trailblazers on Thursday, according to Yahoo Sports.

The deal is worth 4.2 million over two years and includes a second-year player option. Blake thrived in Mike D'Antoni's Lakers offense early on last year before being traded to Golden State to play a lesser role. He averaged 6.9 points and 5.6 assists per game overall on the season. 


Report: Mavericks reach agreement with RFA Chandler Parsons


by Joe Polito | CBSSports.com
(7/10/2014) The Rockets appear to be on the clock in free agency, as CSN Houston reported late Wednesday that the Mavericks and restricted free agent Chandler Parsons came to an agreement. The offer sheet is good for three years and $45 million according to the report.

Houston now has 72 hours to match the deal or watch Parsons walk away. This could be tricky considering the Rockets are still waiting on bigger fish to decide. They've reportedly offered Chris Bosh a max deal and have also been linked to other free agent forwards such as Luol Deng and Trevor Ariza. 

The gap between Parson's level of play and his meager salary has been perhaps the widest of any player in the league. He averaged 16.0 points, 5.4 rebounds and 3.8 assists per game for Houston over the last two years while making less than $1 million annually. 


Raptors re-sign Greivis Vasquez


by Joe Polito | CBSSports.com
(7/10/2014) Restricted free-agent Greivis Vasquez came off the market late Wednesday when the Raptors chose to re-sign him to a two-year, $13 million deal, according to Yahoo Sports.

Vasquez had maintained that he'd like to return to Toronto, where he was traded last season by the Kings. He averaged 9.5 points and 3.7 assists backing up Kyle Lowry last year.


Report: Carmelo Anthony returning to New York


by Joe Polito | CBSSports.com
(7/9/2014) Despite taking several meetings with other teams this offseason, Carmelo Anthony is expected to announce that he'll return to the Knicks. The New York Daily News reported Wednesday that Anthony told a close friend he "believes in Phil" and plans to announce his intent Thursday.

Anthony was said to be deciding between the Lakers and Knicks over the past few days, but it ultimately appears he'll opt to make more money by staying put while seeing what the new regime under Phil Jackson can do for him in the coming years.