Sources: Stephenson signs $27M deal with Hornets

Indiana Pacers guard Lance Stephenson (1) pauses during the second half of Game 3 in the NBA basketball Eastern Conference finals playoff series against the Miami Heat, Saturday, May 24, 2014, in Miami. The Heat defeated the Pacers 99-87. (AP Photo/Lynne Sladky)
Indiana Pacers guard Lance Stephenson (1) pauses during the second half of Game 3 in the NBA basketball Eastern Conference finals playoff series against the Miami Heat, Saturday, May 24, 2014, in Miami. The Heat defeated the Pacers 99-87. (AP Photo/Lynne Sladky)

CHARLOTTE, N.C. (WISH) — Lance Stephenson has signed a three-year, $27 million deal with the Charlotte Hornets, multiple media outlets reported Wednesday.

Multiple news outlets said 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 and the Associated Press.

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.

Stephenson released a small statement via Twitter just before noon on Wednesday:

Indy, I had a great 4 years. Thank you Larry Bird, the fans, my coaches and teammates for the incredible experience. I will never forget any of you! I now have to look to the next phase of my career and the wonderful opportunity to continue to grow as a player and as a person in Charlotte! I’m excited to play for this franchise and the fans!! #buzzcity

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