Knicks exercise options on Danilo Gallinari, Anthony Randolph and Toney Douglas

New York Knickerbockers President of Basketball Operations Donnie Walsh announced today that the team has exercised fourth-year options on forwards Danilo Gallinari and Anthony Randolph, as well as its third-year option on guard Toney Douglas.

Gallinari, 6-10, 224-pounds, has averaged 12.8 points and 4.2 rebounds in 109 games (76 starts) over his first two NBA seasons. Originally selected by New York with the sixth overall pick in the 2008 NBA Draft, Gallinari was selected to play in the T-Mobile Rookie Challenge and compete in the Foot Locker Three-Point Contest at 2010 NBA All-Star Weekend in Dallas last season.

Randolph, 6-11, 225-pounds, has averaged 9.2 points and 6.0 rebounds in 96 games over his first two NBA seasons with the Golden State Warriors. Originally selected by the Warriors with the 14th overall selection in the 2008 NBA Draft following his freshman season at Louisiana State University, Randolph was acquired by New York, along with Kelenna Azubuike and Ronny Turiaf, from Golden State in exchange for David Lee on Jul. 9, 2010.

Douglas, 6-2, 185-pounds, averaged 8.6 points, 2.0 assists and 19.4 minutes in 56 games during his rookie campaign with New York in 2009-10. The Jonesboro, GA-native was selected by the L.A. Lakers in the first round (29th overall) in the 2009 NBA Draft and had his draft rights traded to New York in exchange for cash considerations on draft night, Jun. 25, 2009.

Cavaliers exercise fourth-year option on J.J. Hickson

The Cleveland Cavaliers have exercised the fourth-year contract option on forward J.J. Hickson, Cavaliers General Manager Chris Grant announced today from Cleveland Clinic Courts.

Hickson’s extension keeps him under contract with the Cavaliers through the 2011-12 season.  During the 2009-10 season, he more than doubled his scoring average from 4.0 points per game as a rookie to 8.5 points and increased his field goal percentage from .515 to .554 in 81 games played (73 starts). The 22-year old forward also averaged 4.9 rebounds in 20.9 minutes per game.  In eight games (seven starts) this preseason, Hickson averaged 14.3 points on .475 shooting, a team-leading 8.1 rebounds, 1.1 assists and 1.0 block in 24.5 minutes per game.

The 6-foot-9 forward was selected with the 19th overall pick of the 2008 NBA Draft by Cleveland. He played one season at North Carolina State, earning ACC All-Freshmen Team honors after averaging 14.8 points on a conference-best .591 shooting and 8.5 rebounds in 28.7 minutes per game in 31 games.

Blazers trade Jerryd Bayless to Hornets

The New Orleans Hornets announced today that they have acquired guard Jerryd Bayless from the Portland Trail Blazers in exchange for a conditional future first-round pick.

“We have always been very high on Jerryd as a basketball player and person,” said General Manager Dell Demps. “He is an explosive, young guard who will be able to come in and help us right away. He has the ability to do a variety of things and has stepped up many times for the Blazers when called upon. We are very excited about adding him to our team.”

Bayless (6-3, 204)  was drafted in the first round (11th overall) of the 2008 NBA Draft by the Indiana Pacers. His rights were traded along with Ike Diogu to Portland for the rights to Brandon Rush (13th pick in 2008 NBA Draft), Jarrett Jack and Josh McRoberts on draft night. Bayless played under current Hornets Head Coach Monty Williams in Portland for his first two seasons in the NBA.

Last season, Bayless averaged 8.5 points, 2.3 assists and 1.6 rebounds in 17.6 minutes of play over 74 games (11 starts). In those 11 games as a starter, Bayless averaged 12.6 points, 3.3 assists and 1.6 rebounds in 24.4 minutes of action. During his rookie season, Bayless appeared in 53 games,averaging 4.3 points, 1.6 assists and 1.1 rebounds in 12.4 minutes of play. The Phoenix native was named the 2008 NBA Summer League MVP after leading the league in scoring at 29.8 points per game.

Bayless spent one season at the University of Arizona before declaring for the NBA Draft. In his lone season for the Wildcats, Bayless averaged a team-high 19.7 points to go along with 4.0 assists and 2.7 rebounds. He was named second-team All-Pac-10 for his efforts. The 23-year old guard was a McDonald’s High School All-American coming out of St. Mary’s High School in Phoenix.

Heat sign Jerry Stackhouse

The Miami Heat announced today that they have signed free agent guard Jerry Stackhouse. Per club policy, terms of the deal were not disclosed.

Stackhouse, who was originally drafted with the third pick in the 1995 NBA Draft by the Philadelphia 76ers, has appeared in 896 career games (563 starts) with five teams over 15 NBA seasons. During his career, he has averaged 18.0 points, 3.6 assists, 3.4 rebounds and 32.8 minutes while shooting 40.9 percent from the field, 30.7 percent from three-point range and 82.1 percent from the foul line. During the 2009-10 season, Stackhouse averaged 8.5 points, 2.4 rebounds, 1.7 assists and 20.4 minutes while shooting 40.8 percent from the field, 34.6 percent from three-point range and 79.7 percent from the foul line in 42 games after signing on January 19, 2010 with the Milwaukee Bucks. He scored in double-figures 15 times, including two 20-point games.

The two-time NBA All-Star has appeared in 71 postseason games (16 starts) and has averaged 13.8 points, 3.2 rebounds and 2.5 assists in 30.1 minutes while shooting 37.2 percent from the field, 34.2 percent from three-point range and 83.0 percent from the foul line. Last season, he appeared in seven postseason games for the Milwaukee Bucks averaging 7.3 points, 1.7 rebounds and 1.1 assists in 20.6 minutes while shooting 32.6 percent from the field, 33.3 percent from three-point range and 90.0 percent from the foul line including a 16-point effort in a 107-93 Opening Round Game 3 win against the Atlanta Hawks.