Having turned down a reported 5-year, $44 million offer from the Indiana Pacers, free agent guard Lance Stephenson is on his way to Charlotte after agreeing to a 3-year, $27 million pact (with a Hornets team option on the third year.)
Per the Charlotte Observer:
Under terms of the agreement, Stephenson will make $9 million in 2014-15 and $9 million in 2015-16. Stephenson will get a slight raise in 2016-17 if the Hornets pick up the team option.
Stephenson fills an obvious need, as the Hornets were weak offensively at the shooting guard and small forward positions. The 6-foot-5 Stephenson had a breakthrough season statistically, averaging 13.8 points, 7.2 rebounds and 4.7 assists. He also shot 49 percent from the field and 35 percent from 3-point range.
Tuesday, following the summer Board of Governors meeting, Pacers owner Herb Simon reiterated to the Indianapolis Star that his franchise believes its offer to Stephenson is more than fair. “We made him a wonderful offer and they didn’t think it was enough, so it’s a simple situation,” Simon told the Star.