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. 


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