According to Rick Bonnell at the Charlotte Observer, Indiana Pacers guard Lance Stephenson has signed a three year contract worth $27 million with the Charlotte Hornets.
Hornets owner Michael Jordan, general manager Rich Cho and coach Steve Clifford met with Stephenson Tuesday night in Las Vegas and the deal was completed early Wednesday morning.
The contract includes a team option for the final year.
“Lance is forever grateful for all the love he’s received from Pacers fans. He is especially grateful to his teammates, Frank Vogel, Herb Simon, the Pacers management and most of all, Larry Bird,” Stephenson’s agent, Alberto Ebanks, said in a statement. “While we tried our best to come to the best possible terms for both sides, there was not sufficient flexibility in the terms of the contract, particularly the length of the contract.