The Detroit Pistons retained the face and point guard of their franchise, one year after losing a leader in free agency.
Chauncey Billups signed a $60 million, five-year contract Wednesday with the Pistons, returning to the team he helped reach five consecutive conference finals. The contract is worth $46 million guaranteed over four years and includes a team option for the fifth year.
“We are pleased to have reached an agreement with Chauncey Billups,” team president Joe Dumars said. “We have said from Day One that re-signing Chauncey was our top priority of the offseason.”
Billups, a former star at George Washington High and the University of Colorado, averaged 17 points, 7.2 assists and two turnovers last season.
76ers: Philadelphia signed first-round draft picks Thaddeus Young, taken 12th overall, and center Jason Smith, who played three seasons at Colorado State and averaged 16.8 points and 10.2 rebounds his junior year.
Young, a forward, entered the draft after averaging 14.4 points as a freshman at Georgia Tech. Smith was picked 20th by the Miami Heat and traded to the 76ers for the rights to 21st pick Daequan Cook, cash and a 2009 second-round pick.
Young will make $1.525 million in the first year of his contract and $1.640 million in the second. Smith, who is averaging 7.8 points and 8.0 rebounds in the summer league, will make a little over $1 million both seasons. The 76ers hold options for third and fourth years on both players.
Magic: A few minutes before Rashard Lewis was formally announced as the newest member of the team, the forward donned his white-and- blue uniform and made his way through the practice facility.
“Feeling good,” Lewis said, stopping to shake hands with well-wishers. “Feeling good.”
That’s no surprise, considering he’d just received a six- year contract worth more than $110 million with the Magic.
Lewis averaged a career-best 22.4 points last season for the Seattle SuperSonics.
Suns: Forward Grant Hill, who averaged 14.4 points last season with Orlando, agreed to a two-year deal worth about $1.8 million for the first year, with a second-year player option for about $2 million.
Trail Blazers: Portland agreed on a buyout with guard Steve Francis, who was acquired in a draft-night deal with the New York Knicks.
Francis, who was due $34 million over the final two years of his contract, was expected to clear waivers and become an unrestricted free agent. The terms of the buyout were not released.
Also, the Blazers and the Phoenix Suns completed a deal that sent James Jones and the draft rights to Spanish guard Rudy Fernandez to Portland in exchange for $3 million and other considerations. Fernandez was the 24th overall pick in the draft by the Suns. Jones averaged 6.4 points and 2.3 rebounds last season.
Bobcats: Forward Gerald Wallace, who led Charlotte in scoring last season (18.1), reached an agreement to return to the team.
Raptors: Toronto signed Jason Kapono, who led the NBA in 3-point shooting (51.4 percent) last season with the Miami Heat, and signed Indiana Pacers free-agent forward Maceo Baston to an offer sheet.
