Pacers getting $33.5 million to stay in Indianapolis

The Indianapolis Star reports:

The Indiana Pacers are staying in Indianapolis, but it will cost taxpayers at least $33.5 million over the next three years.

The city and the Pacers are expected today to announce an agreement hailed by some as an important step in protecting the financial state of the city but criticized by others as a multimillion-dollar bailout of a professional sports team and its billionaire owner…

Under the terms, control of Conseco Fieldhouse — and revenues from all events there — will remain with the team, but unlike the current contract, the city will chip in $10 million per year for fieldhouse operations for the next three years. The city also will pay at least $3.5 million for capital improvements at the fieldhouse, an amount that has the potential to increase by up to $4.7 million.

In exchange, the Pacers must stay in Indianapolis through the 2012-13 basketball season or pay back the entire $30 million. The team also would be on the hook for a portion of that $30 million if it left before its contract expired in 2019.

Wesley Matthews signs Blazers offer sheet

The Portland Trail Blazers announced today they have signed restricted free-agent guard Wesley Matthews to an offer sheet. Per team policy, financial details were not disclosed.

The Utah Jazz will have seven days to match the offer sheet from the day on which they receive it.

Undrafted out of Marquette University, Matthews appeared in all 82 games, including 48 starts, for Utah as a rookie during the 2009-10 season. He averaged 9.4 points (48.3% FG, 38.2% 3-PT, 82.9% FT), 2.3 rebounds, 1.5 assists and 24.7 minutes for the Jazz.

Matthews (6-5, 220) started all 10 of Utah’s 2010 postseason contests, posting averages of 13.2 points, 4.4 rebounds and 1.7 assists in 37.1 minutes.

Jordan Farmar will join Nets

Jordan Farmar will join Nets

The New Jersey Nets have reached an agreement in principle with free agent guard Jordan Farmar, Nets President Rod Thorn announced tonight.  Per team policy, terms of the agreement were not released. The agreement is contingent on the passing of the required physical.

The deal is for three-years, $12-million, reports the Los Angeles Times.

“Jordan will be an excellent complement to Devin in the backcourt,” said Thorn.  “He comes to the Nets with championship pedigree, which will prove to be invaluable to his teammates.”

Farmar, 6’2”/180, is a four-year NBA veteran with career averages of 6.9 points and 2.1 assists in 18.1 minutes over 301 career games with the Los Angeles Lakers.  The UCLA product was selected by the Lakers in the first round (26th overall) of the 2006 NBA draft.  Farmar helped the Lakers win back-to-back championships in 2008-09 and 2009-10.  In 69 career postseason contests, Farmar holds playoff averages of 5.9 points and 1.4 assists in 15.0 minutes per game Last season, Farmar appeared in all 82 games for the Lakers, posting averages of 7.2 points on 43.5% shooting and 1.5 assists in 18.0 minutes per game.

Cavaliers will not push tampering charge

Marc Stein of ESPN reports:

The Cleveland Cavaliers have no plans to push for an NBA probe into the circumstances that led to LeBron James joining Team USA colleagues Dwyane Wade and Chris Bosh in Miami, according to sources with knowledge of the team’s thinking.

NBA commissioner David Stern said Sunday that the league would investigate the Heat’s signings of James and Bosh for any illegal negotiating or planning before free agency officially started if the Cavaliers or Toronto Raptors make that request.

Reached Sunday by ESPN.com, Stern said: “Whenever a team lodges a tampering charge, it is investigated.”

The Cavaliers declined official comment Sunday, but one source briefed on Cleveland’s intentions told ESPN.com that — in the wake of owner Dan Gilbert’s vitriolic open letter to Cavs fans that slammed James for leaving his home-state team — the organization wants to try to keep the focus from here on its post-James future as much as possible.

Hornets to sign Luther Head

UPDATE: There were problems with Luther Head’s physical, so the Hornets chose not to sign him. See this page.

The AP reports:

The New Orleans Hornets have reached an agreement on a two-year contract with veteran guard Luther Head.

The Hornets are not announcing the deal yet because Head still must pass his physical, but Head’s agent, Mark Bartelstein, told The Associated Press on Saturday that the deal paying Head about $2.5 million over two years is done.

InsideHoops.com editor says:

With this move, the Hornets improve their bench depth.

Bulls have no negative words for LeBron

John Jackson of the Chicago Sun-Times reports:

Like other teams in other cities, the Bulls went all-in to try to get LeBron James and suffered a major setback when James decided to join the Miami Heat to form the Bigger Three with Dwyane Wade and Chris Bosh.

But unlike some of those other spurned teams — especially the Cleveland Cavaliers — the Bulls had no harsh words for James and offered no regrets about any decision they made in the free-agent process.

”In our dealings with [James], he was terrific,” general manager Gar Forman said. ”He was professional, we really enjoyed the time we had to spend with him and there was nothing [negative].”

Raptors sign-and-trade Chris Bosh to Heat

Raptors sign-and-trade Chris Bosh to Heat

The Toronto Raptors announced Friday they have acquired two first-round draft picks and a trade exception from the Miami Heat in exchange for forward Chris Bosh. The Raptors facilitated a sign-and-trade with Bosh.

InsideHoops.com will post details of Bosh’s contract this weekend.

“We all just witnessed an unprecedented moment in professional sports as these three young stars have joined forces in an attempt to completely transform this league. We are certainly sorry to see Chris leave, but we are planning to use these acquired assets to retool our roster and evolve as an organization,” said Raptors President and General Manager Bryan Colangelo.

The Raptors reacquired their own 2011 first-round pick originally sent to the Heat on February 13, 2009 (trade of Jermaine O’Neal and Jamario Moon for Shawn Marion and Marcus Banks) and Miami’s 2011 first-round draft choice (lottery protected).

Bosh was selected fourth overall by Toronto in the 2003 NBA Draft. He has career averages of 20.2 points, 9.4 rebounds, 1.2 blocks and 37.0 minutes in 509 games, including 497 starts. He is the all-time franchise leader in points (10,275), total rebounds (4,776), offensive rebounds (1,369), defensive rebounds (3,407), free throws made (2,997), blocks (600), minutes (19,813), games started (497) and double-doubles (239).

Clippers sign Brian Cook

Clippers sign Brian Cook

The Los Angeles Clippers today signed free agent forward Brian Cook. Per team policy, terms of the deal were not announced.

Cook, 29, appeared in 15 games for the Houston Rockets last season, averaging 1.4 points and 0.6 rebounds. A seven-year NBA veteran, the six-foot-nine, 234 pound Cook has appeared in 349 career games with the Rockets, Orlando Magic and Los Angeles Lakers, tallying career averages of 5.8 points, 2.7 rebounds and 0.3 blocks.

The former University of Illinois star was originally drafted by the Lakers with the 24th overall pick of the 2003 NBA Draft. As a rookie, Cook appeared in 35 games and 13 playoff contests as a member of the 2004 Western Conference Champions. Cook played four complete seasons with the Lakers, making a career-high 81 appearances in 2005-06, the same season he averaged a career-best 7.9 points and 3.4 rebounds.

In his career, Cook has played in 31 total playoff games, averaging 2.7 points and 1.7 rebounds. A career 39 percent three-point shooter, Cook has attempted over 80 three-pointers in five different pro seasons, shooting nearly 43 percent from beyond the arc in 2005-06.

Cook joined the Orlando Magic in a trade on Nov. 20, 2007 where he played in 66 total games from 2007-2009. The Lincoln, Illinois native was then traded to Houston on Feb. 19, 2009 as a part of a three-team trade. The Rockets waived Cook on Feb. 19, 2010.

The 2002-03 Big Ten Player of the Year and Third-Team All-American selection as a senior, Cook averaged 20.0 points and 7.6 rebounds in his final college season and finished his Illinois career as the third leading scorer in school history.

Cook’s father Norm was a star at the University of Kansas and played in 27 NBA games with the Celtics and Denver Nuggets from 1976-78.

Knicks sign-and-trade David Lee to Warriors

The Golden State Warriors have acquired All-Star forward/center David Lee in a sign-and-trade deal with the New York Knicks, in exchange for Kelenna Azubuike, Anthony Randolph, Ronny Turiaf and a 2012 second round draft pick, the team announced today.  Per team policy, financial terms of Lee’s deal were not released. We’ll post contract details tonight.

Lee, 27, appeared in 81 games for the Knicks last season, averaging 20.2 points, 11.7 rebounds, 3.6 assists and 1.05 steals in 37.3 minutes per contest, while shooting 54.5% (686-1,258 FG) from the field and 81.2% (268-330 FT) from the line en route to being named to the Eastern Conference All-Star Team.  One of only three players in the NBA last season to average at least 20 points and 10 rebounds (joining Chris Bosh and Zach Randolph), Lee ranked fourth in the league in rebounding, fourth in double-doubles with 53 (trailing only Dwight Howard, Zach Randolph and Carlos Boozer), ninth in field goal percentage and 15th in scoring.

“David Lee is a terrific basketball player and an All-Star,” said Warriors’ General Manager Larry Riley. “His skill-set addresses two areas where we need to improve: rebounding and passing, plus, we know he will score.  He is a proven talent in this league and we like the way that his talents fit with the other core players on our roster.  We thank Kelenna, Anthony and Ronny for their contributions to our team and organization during their time here, and wish them nothing but the best. This decision was not easy, but, at the end of the day, we feel that this was the right move for our organization and we are excited that David Lee is now a member of the Golden State Warriors.”

A five-year NBA veteran, Lee owns career averages of 13.0 points, 9.6 rebounds, 1.9 assists and 30.0 in 368 games (all with New York), while shooting 55.7% from the field and 77.4% from the free throw line.  Following a four-year collegiate career at the University of Florida, Lee has continued to improve each year of his NBA career, including an increase in scoring every season – averaging 5.1ppg as a rookie in 2005-06, 10.7 in 2006-07, 10.8 in 2007-08, 16.0 in 2008-09, and 20.2 last season.  In fact, over the last four seasons (not counting rookie year of 2005-06) the 6’9’’ forward/center has averaged 14.7 points and 10.7 rebounds per game, making him one of only seven players in the NBA to average at least 14.0 points and 10.0 rebounds over that four-season span (joining Carlos Boozer, Chris Bosh, Tim Duncan, Dwight Howard, Al Jefferson and Zach Randolph). Lee is currently a member of the 2010-12 USA Basketball Men’s National Team program alongside Warriors’ guard and teammate Stephen Curry.

Lee scored 20-or-more points 46 times last season (including five 30+ games), grabbed 10-or-more rebounds 54 times, 15-plus boards 23 times and had three 20-plus rebound efforts.  He posted 20-points & 10-rebounds in the same game 31 times, including his first career triple-double with a career-high 37 points, 20 rebounds and a career-high 10 assists at Golden State on April 2 to become the first NBA player to register at least 30 points, 20 rebounds and 10 assists in a game since Kareem Abdul-Jabbar did so in March of 1976.

Azubuike, 26, appeared in nine games (seven starts) with Golden State last season, averaging 13.9 points, 4.6 rebounds and 1.1 assists in 25.7 minutes.  He missed the final 73 games of the season after suffering a torn patellar tendon in his left knee on November 14 at Milwaukee and undergoing surgery for the injury on November 18.  Originally called-up from the NBA D-League by the Warriors on July 17, 2007, Azubuike owns career averages of 10.6 points, 4.0 rebounds, 1.1 assists and 24.4 minutes in 205 regular-season games over three seasons with Golden State.

Randolph, 20, appeared in 33 games (eight starts) last season for the Warriors, averaging 11.6 points, 6.5 rebounds, 1.3 assists and 1.55 blocks in 22.7 minutes per contest.  He missed 48 games due to injury, including the final 47 contests of the season due to a sprained left ankle that occurred on January 8 vs. Sacramento.  Originally selected by the Warriors with the 14th overall pick in the 2008 NBA Draft, Randolph owns career averages of 9.2 points, 6.0 rebounds, 1.30 blocks and 19.6 minutes in 96 games over two seasons with Golden State.

Turiaf, 27, appeared in 42 games (20 starts) with Golden State last season, averaging 4.9 points, 4.5 rebounds, 2.1 assists and 1.29 blocks in 20.8 minutes per contest.  Originally drafted by the Los Angeles Lakers in the second round (37th overall) of the 2005 NBA Draft and signed as a restricted free agent by the Warriors on July 10, 2008, Turiaf owns career averages of 5.5 points, 3.9 rebounds, 1.5 assists, 1.42 blocks and 17.9 minutes in 294 regular-season games over five seasons with the Lakers and Warriors.