NBA: Hornets sign Stephenson

The Charlotte Hornets announced Friday (Saturday, PHL time) that they signed free agent guard Lance Stephenson.

Terms of the deal were not disclosed by the team but multiple media outlets reported earlier in the week that the two sides agreed on a three-year contract worth up to $27 million.

Stephenson finished second in NBA Most Improved Player voting last season after leading the league with five triple-doubles and averaging career highs of 13.1 points, 7.2 rebounds, 4.6 assists and 35.3 minutes in 78 games with the Indiana Pacers.

He previously turned down a five-year, $44 million deal to stay in Indiana.

Stephenson also set career highs with 427 field goals, 49.1 percent field-goal shooting, 86 3-pointers, and 35.2 percent 3-point shooting.

In the playoffs, Stephenson averaged 13.6 points, 6.9 rebounds and 4.2 assists in 37.1 minutes over 19 games.

"We are extremely excited to add Lance to our team," general manager Rich Cho said in a statement. "He is a great up-and-coming player with an incredibly high ceiling. He is an exceptional athlete who has the versatility and skill to play multiple positions on both offense and defense. We believe he will be an outstanding addition to our roster."

Stephenson, a second-round draft pick in 2010, played 216 NBA games with the Pacers, averaging of 9.1 points, 4.4 rebounds and 3.1 assists. In 42 career playoff games, he has averaged 10.6 points, 6.5 rebounds and 3.4 assists in 33.1 minutes. - Reuters