is reporting that Lance Stephenson has signed with the Charlotte Hornets for the next three seasons. His contract is worth $27 million.
The deal was signed early Wednesday morning after Hornets owner Michael Jordan, general manager Rich Cho, head coach Steve Clifford and associate head coach Patrick Ewing met with Stephenson and his representatives Tuesday night in Las Vegas.
The Pacers offered Stephenson a five-year, $44 million contract on July 1. But Stephenson, who led the league in triple-doubles, felt the offer undervalued him.
The Pacers were unwilling to offer Stephenson a shorter deal worth more money. Last season, Stephenson has his most productive season and led the NBA with five triple-doubles.