Sources: Stephenson signs $27M deal with Hornets

Former Indiana Pacers guard Lance Stephenson celebrates late in the second half of an NBA basketball game against the Oklahoma City Thunder in Indianapolis, Sunday, April 13, 2014. (AP Photo/Michael Conroy)
Former Indiana Pacers guard Lance Stephenson celebrates late in the second half of an NBA basketball game against the Oklahoma City Thunder in Indianapolis, Sunday, April 13, 2014. (AP Photo/Michael Conroy)

CHARLOTTE (WISH) — Lance Stephenson has signed a three-year, $27 million deal with the Charlotte Hornets, sources tell ESPN.

ESPN reports the deal was signed early Wednesday morning. Stephenson met with his representatives, Hornets owner Michael Jordan, and others Tuesday night in Las Vegas.

The Indiana Pacers had offered Stephenson a five-year, $44 million contract at the beginning of July, but Stephenson felt he was worth more, sources told ESPN.

Over the past few weeks, the Pacers said they wanted Stephenson to return to the team. President of basketball operations Larry Bird said offering more than $44 million was not possible.

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