LOS ANGELES, 14 July 2006 — The waiting period is over and the abundance of deals agreed to over the last few weeks finally became reality Wednesday when the NBA’s version of “Let’s Make a Deal” officially got under way as the moratorium ended.
Although teams could begin negotiating with free agents on July 1, no signings were allowed until after the salary cap for the upcoming season was set. Once it was announced as $53.135 million on Tuesday night, the deals began to kick in throughout a busy day around the league.
The New Orleans Oklahoma City Hornets acquired smooth-shooting free agent forward Peja Stojakovic, along with cash from the Indiana Pacers in a sign-and-trade deal for the draft rights to 7-foot-1 center Andrew Betts.
Though terms were not disclosed, various reports have the deal at five years worth $64 million.
“One of our top priorities this summer was to add a sharp-shooting scorer who could stretch the defense and knock down shots off of penetration,” Hornets general manager Jeff Bower said in a statement on the team’s website. “We’re thrilled that we signed the best player available on the free agent market to fill that role.”
Stojakovic owns career averages of 18.4 points on 46 percent field goal shooting and has hit 40 percent of his 3-pointers, while grabbing 5.1 rebounds in his eight NBA seasons.
The 29-year-old native of Serbia and Montenegro spent the first seven-and-a-half years with the Sacramento Kings, where he was named three times to the Western Conference All-Star squad. However, he was traded to Indiana for Ron Artest in mid-season and averaged 19.5 points and 6.3 rebounds in 40 games, despite an ailing knee.
“Peja coming to the Hornets is probably the biggest free agent signing in the history of the franchise,” Hornets owner George Shinn said. “Our fans deserve the best team possible on the floor when we start the 2006-07 season, and we’re off to a great start this summer in making that happen.” Betts was a 1998 second-round draft pick of the Hornets, but played in Europe through the 2005-06 season.
“This was an opportunity for the Pacers to benefit from Peja’s signing with the Hornets by doing a sign and trade,” Pacers president Donnie Walsh said. “We acquire a $7.5 million trade exception that will be very beneficial in any trades that come up in the next year.” The Pacers weren’t done dealing yet, sending nine-year veteran forward Austin Croshere to the Dallas Mavericks in exchange for versatile swing man Marquis Daniels. Though the Hornets gained a sharpshooter, they lost a point guard when Speedy Claxton signed a four-year deal worth about $25.5 million to play for the Atlanta Hawks next season.
New Orleans also waived seldom-used Lithuanian guard Arvydas Macijauskas, who played only 19 games last season and averaged 2.3 points and 7.1 minutes.
Elsewhere around the league: The Memphis Grizzlies acquired and signed Rudy Gay, the eighth pick in last month’s draft in a deal that was agreed to at that time. To complete it, the Grizzlies re-acquired Stromille Swift from the Houston Rockets in exchange for fellow forward Shane Battier.
The Los Angeles Clippers agreed to re-sign 36-year-old Sam Cassell for another two years. The veteran point guard led the perennial doormats to their best record in 31 years, and first playoff appearance in nine seasons, where they were one victory away from reaching the Western Conference finals.
However, Vladimir Radmanovic bolted down the corridor of shared Staples Center to the rival Lakers, where his outside shooting is expected to take some of the heavy pressure off league-scoring champ Kobe Bryant.
