The New Jersey Nets have signed first round draft picks Derrick Favors and Damion James, Nets President Rod Thorn announced today. Per team policy, terms of the contracts were not released. They are both signed to standard rookie deals.

Favors (6’10”/246) was selected third overall in the 2010 NBA Draft. He played one season at Georgia Tech and was named ACC Rookie of the Year. The Atlanta, Georgia native averaged 12.4 points, 8.4 rebounds and 2.1 blocks in 36 games for the Yellow Jackets.

James (6’7”/225) was selected 24th overall by Atlanta in the 2010 NBA Draft and later traded to New Jersey in exchange for the draft rights to Jordan Crawford and Tibor Pleiss. He played four seasons at the University of Texas, averaging 18.0 points and 10.3 rebounds in 34 games as a senior. He holds Big 12 conference records for rebounds (1318) and double-doubles (55) and school career records for games started (140) and rebounds, while earning Third Team AP All-American accolades as a senior in 2009-10.